The Sindh government has decided to bring down public transport fares by 7 per cent due to massive reduction in petroleum product prices by the federal government, Geo News reported.Sources said reduction in fares will be applicable on public transport, rickshaw, taxi and other means of traveling.Meanwhile, Karachi Transport Ittehad (KTI) has refused to abide by the government decision.KTI President Irshad Bukhari said the commuters are charged the lowest fares in Karachi as compare to other parts of the country, adding that 80pc vehicles run on Compressed Natural Gas (CNG). Bukhari said Karachi transporters will cut fares when decrease in CNG prices will be made.                                   
 Asian markets started 2015 on an upswing in limited trading on Friday, with mainland Chinese stocks surging in Hong Kong on speculation Beijing may ease monetary policy to boost slowing growth.Hong Kong rose 1.07 percent, closing 252.78 points higher at 23857.82.Seoul closed up 0.57 percent, rising 10.85 points to 1,926.44, while Sydney gained 0.46 percent, or 24.89 points, to close at 5,435.9.Singapore edged up 0.19 percent, gaining 6.39 points to 3,371.54.Markets in mainland China, Japan, Taiwan, New Zealand, the Philippines, and Thailand remained closed for holidays.With mainland bourses shut until January 5, shares in Chinese developers and financial companies surged in Hong Kong, stoked by hopes that Beijing could ease monetary policy to support lagging growth in the world�s second-largest economy.China Vanke, the country�s biggest developer by sales, leapt 10.8 percent and the People�s Insurance Company (Group) of China Ltd. was up 5.51 percent in afternoon trading.Train-builders CSR Corp. and China CNR Corp. soared -- CSR by 16.5 percent and China CNR by 16.0 percent -- extending gains on December 31 after they announced a merger agreement.China�s manufacturing growth dropped in December to its lowest level of 2014, an official survey showed Thursday, as the sector struggles with weak domestic demand.China�s official Purchasing Managers� Index (PMI) released by the National Bureau of Statistics (NBS) came in at 50.1 last month, down from 50.3 recorded in November.The index, which tracks activity in factories and workshops, is considered a key indicator of the health of China�s economy, a major driver of global growth. A figure above 50 signals expansion, while anything below indicates contraction."Growth momentum is still insufficient," NBS said in a statement. - Investors eye US factory data -On forex markets the dollar extended gains ahead of the release of American factory data due later on Friday and following a steady stream of good news from the world�s biggest economy.The dollar bought 120.44 yen, compared to 119.44 yen in final 2014 trading on Wednesday.Wall Street toasted a banner year in 2014, with US equity markets finishing near all-time highs.The euro meanwhile slipped amid growing expectations that the European Central Bank, which meets on January 22, will start buying sovereign bonds. The single currency bought $1.2061 compared to $1.2160 in pre-holiday trade.The ECB has already used several tools to push inflation in member nations back up to the 2.0 percent annual rate it regards as healthy, including asset purchases and making cheap loans available to banks.It is also examining the possibility of large-scale purchases of sovereign debt -- so-called quantitative easing (QE) -- to help jump-start the European Union�s moribund economy.Oil prices rose on Friday, with US benchmark West Texas Intermediate for February delivery rising 44 cents to $54.07 and Brent crude for February gaining 18 cents to $57.51."The gains in Asian trading are likely because of the positive US crude stockpiles data released on Wednesday," Daniel Ang, investment analyst at Phillip Futures in Singapore, told AFP.US crude reserves fell by 1.8 million barrels in the week to December 26, the US Energy Information Administration said in its last petroleum report for 2014 released on Wednesday, boosting prices that lost nearly half their value in the second half of the year.There is growing speculation that the slide in global oil prices -- the biggest since the financial crisis in 2008 -- may have been excessive."If we do see some supply-side responses, or even if they�re anticipated over the course of this first quarter of the year, we might find that oil has in fact bottomed," Michael McCarthy, a chief strategist at CMC Markets in Sydney, told Bloomberg.Gold was at $1,182.36 an ounce, compared with $1,199.00 in end-of-year trading on Wednesday.In other markets:-- Jakarta ended up 0.30 percent, or 15.82 points, at 5,242.77.Coal firm Indo Tambangraya Megah gained 3.41 percent to 15,900 rupiah, while miner Aneka Tambang slipped 1.88 percent to 1,045 rupiah.-- Malaysia�s main stock index shed 0.48 percent, or 8.48 points, to close at 1,752.77.Malayan Banking lost 0.55 percent to 9.12 ringgit, Public Bank slipped 0.44 percent to 18.22 while Top Globe added 1.77 percent 4.60 ringgit.-- Singapore rose 0.16 percent, or 5.44 points, to 3,370.59.Agribusiness company Wilmar International gained 0.93 percent to Sg$3.27 while real estate developer Capitaland dipped 0.30 percent to Sg$3.30.-- Mumbai gained 1.38 percent, or 380.36 points, to end at 27,887.90.Housing Development Finance Corp rose 4.30 percent to 1,171.80 rupees, while Mahindra & Mahindra fell 0.92 percent to 1,224.80 rupees. (AFP)                                   
  Hong Kong shares opened 0.66 percent lower Monday following a tepid lead from Wall Street, as the first full week of the new year kicked off.The benchmark Hang Seng Index dipped 158.63 points to 23,699.19.            
 Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.Oil prices, which fell below the psychological $50 a barrel mark in US trade, edged up marginally but remained under pressure owing to a global supply glut, weak demand and a stronger dollar.Tokyo tumbled 2.50 percent, Hong Kong lost 0.89 percent, Sydney eased 1.67 percent, Seoul was 1.30 percent lower while Shanghai reversed earlier losses to gain 0.70 percent.The first full week of the new year got off to a traumatic start for dealers as they bet a January 25 general election in Greece will see a victory for the the left-wing Syriza party.Markets fear the party will roll back austerity measures required under the IMF-EU bailout of the country, which could in turn lead it to exit the eurozone.The year is "barely three trading days old and already the two biggest themes that were predicted to affect the markets this year are making headlines: oversupply of commodities and the eurozone," Evan Lucas, a markets strategist in Melbourne at IG Ltd., wrote in an email to clients, according to Bloomberg News.At the weekend, Der Spiegel quoted German government sources as saying they consider Greece�s exit "almost inevitable" if Syriza wins the snap poll.Chancellor Angela Merkel and finance minister Wolfgang Schaeuble had come to consider Athens� removal from the bloc would be "manageable", the magazine said.However, investors were spooked and on Monday Greek stocks sank more than 5 percent, while the Paris, Madrid and Milan exchanges fell more than 3 percent.- Oil below $50 a barrel -The Dow dived 1.86 percent, the S&P 500 fell 1.83 percent and the Nasdaq lost 1.57 percent.In currency trade the euro sank to $1.1864 Monday, its lowest level since March 2006. On Tuesday morning the single currency recovered slightly buying $1.1943.The euro was meanwhile at 142.58 yen against 142.74 yen in US trade and well down from the 144.58 yen Friday.Adding to downward pressure is increased speculation that the European Central Bank will buy eurozone government bonds to counter deflation risks.The dollar was at 119.40 yen early Tuesday, compared with 119.61 in New York Monday and also well down from 120.46 yen Friday.Oil prices were marginally up Tuesday after slipping below $50 for the first time in more than five years in New York.US benchmark West Texas Intermediate for February delivery rose eight cents to $50.12 while Brent crude for February gained 14 cents to $53.25. WTI tapped $49.95 Monday.The cost of crude has plunged since June as supplies outstrip demand with key consumer China slowing down, the eurozone struggling and the dollar, in which it is priced, strengthening.A decision late last year by the Organization of the Petroleum Exporting Countries (OPEC) to maintain output despite the glut has also cut into prices."The fundamentals of oil are unlikely to change in the first half of this year, which will see oil bedding down into its bear market for months to come," IG�s Lucas said.Gold was at $1,203.59.40 an ounce, compared with $1,196.40 on Monday. (AFP)                                   
 US oil prices Monday slipped below $50 a barrel for the first time in more than five years as the surging dollar and news of additional supplies extended a six-month rout.US benchmark West Texas Intermediate for February delivery, in free fall since June, ended at $50.04 a barrel, down $2.65 or five percent. The contract got as low as $49.95 a barrel earlier in the session, its lowest level since May 1, 2009.European benchmark Brent oil for February delivery fell $3.31 to $53.11 a barrel in London.Monday�s slide in oil prices followed indications of rising output from key producers Russia and Iraq at a time when forecasters have trimmed their demand projections due to weak global economic growth.The breaching of the psychologically important $50 level also came on a turbulent day for global financial markets. US stocks fell nearly two percent, approaching the drops in European equity markets as the euro plunged to a nine-year low on revived eurozone worries.A long rally in the greenback, which gained 11 percent last year against a basket of major currencies, has weighed on the dollar-priced oil market by making crude more expensive for buyers using weaker currencies.Oil prices could fall further still, analysts say."There�s serious concern the bottom�s not in yet," said Kyle Cooper, managing partner at IAF Advisors in Houston. "Basically everyone who�s taken a stab at the bottom has been wrong.""Oil prices attempted to stabilize during the last two weeks, but the fundamentals remain weak," said Gene McGillian, broker and analyst at Tradition Energy. "The market is trying to come to a bottom. It could be anybody�s guess, but it appears we still have more to go."Fawad Razaqzada, a technical analyst at Forex.com., said the drop below $50 a barrel could trigger more selling, paving the way for oil to fall as low as $45 or $40 a barrel in the coming weeks.-Weak fundamentals-The retreat in prices comes on the heels of a multi-year boom in US oil production that has shaken the global petroleum market and put the US in a league with oil giants Russia and Saudi Arabia.Other leading producers are also pumping aggressively. Iraq�s oil ministry last week released figures showing that December crude exports reached their highest since 1980.Meanwhile, the Organization of the Petroleum Exporting Countries has consistently ruled out action despite the months-long slide in prices.In November, the cartel met in Vienna and took no action, as key powerbrokers like Saudi Arabian oil minister Ali al-Naimi said he preferred for the market to balance itself. In December, Naimi told a Middle East publication the group would take the same hands-off approach even if oil fell to $20 a barrel.Meanwhile, economic growth remains uncertain in Europe and in many emerging economies, such as China and Brazil. The International Energy Agency in December projected global crude inventories could rise by nearly 300 million barrels in the first six months of 2015. The agency also cut its demand outlook by more than 200,000 barrels a day for 2015.Energy equities, by far the worst performing sector in the S&P 500 last year, suffered more pain Monday. Dow member Chevron fell 4.0 percent, while oil-services giant Schlumberger lost 2.6 percent.Key US oil companies like ConocoPhillips and shale producer Continental Resources have cut their drilling budgets for 2015.Still, analysts expect US output to continue to rise this year, owing to investments that have already been made. That will put more pressure on crude prices."I still think one of the primary drivers of the market is US oil production and I really don�t see US oil production growth slowing appreciably in the first quarter," Cooper said. (AFP)                                   
 Oil prices tumbled Tuesday to fresh 5.5-year lows as Saudi Arabia blamed weak global economic growth and said it will stick to its guns on production policy.US benchmark West Texas Intermediate for delivery in February sank $2.11 to $47.93 a barrel, a low last witnessed in late April 2009.Brent North Sea crude for delivery in February dived $2.01 to $51.10 per barrel, the lowest level since early May 2009."The market is still worried that there are no signs that the supply glut will start falling," Nordea Markets analyst Thina Margrethe Saltvedt told AFP.James Williams of WTRG said the weakness in the market could take prices below $40 a barrel."Basically, there are continuing concerns about OPEC not cutting back, particularly Saudi Arabia, and US production continuing to grow," he said.Saudi Arabia�s Crown Prince Salman, in a speech on behalf of ailing King Abdullah Tuesday, said weak growth was to blame for the price fall, which has sliced deeply into the income of the world�s largest exporter."This development is not new in the oil market, and the kingdom has in the past dealt with it firmly and wisely," he said, adding that Saudi Arabia will maintain its "same approach" towards the market.That appeared to confirm Riyadh�s determination to defend its market share rather than reduce output, even if that pushes prices lower.On Monday Saudi Arabia reportedly cut its European and US export prices in order to maintain market share. (AFP)                                   
 Strong bulls on Friday pulled the benchmark KSE-100 Index at Karachi Stock Exchange (KSE) and taking it across the psychological barrier of 33,000 points with a single day�s gain of 207 points.The investors remained active right from the opening bells of today�s trade, contributing 207 points to the major index and a close at 33,324 points � a new record in Pakistan�s stock market history.According to stock market experts, the investors are interested in taking fresh positions in the expectations of discount rate going further down as a result of a visible decline in inflation rate.They said the stock market of Pakistan has earned the honour of being considered as one of the most successful markets of this region in 2014 during which investors booked over 25 percent profits.             
 Oil fell further in Asia Monday, with weak demand and a supply glut putting relentless pressure on prices already at their lowest in five and a half years, analysts said.US benchmark West Texas Intermediate (WTI) for February delivery was down 81 cents at $47.55 a barrel in mid-morning trade and Brent crude for February dropped 90 cents to 49.21."The fundamental factors have not changed much. There is an oversupply and demand is weak," said Daniel Ang, an investment analyst with Phillip Futures in Singapore.The outlook is for prices to decline further this week, with WTI seen touching a low of $45 and Brent $48, Ang told AFP."Oil prices continued to tumble and headed for a seventh straight weekly loss as key producers show no sign of cutting output in the face of a supply glut," Singapore�s United Overseas Bank said in a commentary.Crude prices have lost more than half their value since the middle of last year when they sat well above $100 a barrel.Members of the Organization of the Petroleum Exporting Countries, which pumps about 40 percent of the world�s oil, have said they will not cut production despite excessive supplies. (AFP)                                   
 Wholesale market rates for sugar dropped to less than Rs 50 per kg following the resumption of sugar cane crushing by sugar mills in Sindh.Within two days, the rate dropped by Rs 1.70 to Rs 49.80 per kg in Karachi Whole Sale Market.According to dealers, the resumption of sugar cane crushing by the mills stabilised the supply to the market with an immediate effect on price as well.Industry experts said that the quality of sugar cane is excellent in Sindh and approximately 100 kg of sugar cane can produce 11 kg of sugar.             
 Oil prices fell 1 percent on Wednesday after the World Bank cut its economic growth forecast, helping extend a rout that saw prices touch a nearly six-year low the previous session.Oil and other commodities came under pressure after the weaker outlook from the Washington-based financial institution reinforced worries of a gloomy economic outlook at a time when oil markets are plagued by oversupply."The global economy is running on a single engine ... the American one," World Bank chief economist Kaushik Basu said. "This does not make for a rosy outlook for the world."February Brent crude LCOc1 dropped 55 cents to $46.04 a barrel by 0927 GMT and West Texas Intermediate crude for February CLc1 was at $45.29, down 60 cents."There's clearly a souring of sentiment towards industrial commodities and I think that's spilling over to oil today," said Michael McCarthy, chief strategist at CMC Markets in Sydney."Potentially this selling is now being overdone, but today there's no sign of a turnaround," he said.Analysts said prices would stay under pressure as oversupply hurts both WTI and Brent, and a string of them have cut price forecasts for 2015 and 2016.Oil had tumbled nearly 5 percent on Tuesday before closing down 1.8 percent, with global benchmark Brent briefly trading at par to US prices for the first time in three months as some traders moved to take advantage of ample US storage space.US stocks are possibly approaching 80 percent of capacity by the upcoming spring season, according to US-based PIRA Energy Group.Commercial crude stockpiles in the US rose 3.9 million barrels last week, the industry group American Petroleum Institute (API) said. The Energy Information Administration's oil inventory report is due Wednesday at 1530 GMT.Outside the United States, some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea."Once floating storage starts, there is very little support on the downside for Brent spreads," analysts Energy Aspects said.With oil producer club OPEC deciding late last year to maintain its output despite slowing Asian and European economic growth, a glut has also appeared outside the United States."The closing gap looks to be solidifying Saudi Arabia's strategy to curb shale production and protect market share," ANZ bank said.                                   
 Tokyo stocks opened 0.74 percent lower on Wednesday, hit by the yen�s rise and drops on Wall Street on worries about falling oil prices.The Nikkei 225 index at the Tokyo Stock Exchange lost 125.89 to 16,961.82 at the start.In New York on Tuesday the Dow Jones Industrial Average dropped 0.15 percent and the broad-based S&P 500 fell 0.26 percent, overshadowed by worries about sliding crude oil prices.The yen rose against other currencies on safe-haven buying, a negative for Japanese exporters as the stronger currency makes them less competitive abroad and erodes profits when repatriated.The dollar was at 117.72 yen early Wednesday, down from 117.90 yen in New York Tuesday afternoon and rates above 118 yen seen in Tokyo earlier Tuesday.The euro also fell after a key European central banker expressed support for monetary stimulus.The common European currency bought 138.69 yen and $1.1776 against 138.84 yen and $1.1777 in US trade.The ruble�s drop took a breather early Wednesday after plunging by around 5 percent on Tuesday as global oil prices tumbled towards a six-year low.The dollar was at 65.28 against the ruble on Wednesday against levels above 66 seen on Tuesday.            
 Hong Kong stocks edged up 0.24 percent in early trade Thursday despite a fourth successive day of losses on Wall Street.The benchmark Hang Seng Index added 56.75 points to 24,169.35.            
 World oil prices rebounded Friday after the International Energy Agency declared there were signs "the tide will turn" following recent multi-year lows.In early afternoon London deals, Brent North Sea crude for delivery in March rallied $1.41 to trade at $49.68 per barrel. US benchmark West Texas Intermediate for February gained $1.09 at $47.34."How low the market�s floor will be is anyone�s guess," the Paris-based IEA energy watchdog said in a monthly report published on Friday."A price recovery -- barring any major disruption -- may not be imminent, but signs are mounting that the tide will turn."Crude futures have more than halved since June, crashing on stubborn worries over global oversupply and weak demand in a faltering world economy.The IEA cautioned Friday that prices were expected to keep falling in the short-term."The IEA have hedged their bets somewhat by saying the tide may turn," noted CMC Markets analyst Michael Hewson.He added that the "market is very oversold and was probably due a rebound".European benchmark Brent had tumbled Tuesday to $45.19 per barrel, hitting the lowest level since March 2009.The IEA added Friday that the dramatic collapse in oil prices was still insufficient to stimulate crude consumption, because weakness in the economy has cancelled out the benefits of cheaper crude.The agency maintained its oil demand forecast for 2015, expecting it to grow by 0.9 million barrels a day to reach 93.3 million barrels.The oil market rebounded Friday after plunging the previous day on news that the Organization of Petroleum Exporting Countries had overproduced in December, while it also cut its global demand outlook.The 12-nation OPEC cartel, which produces about one third of global supplies, said in a monthly report Thursday that its production rose to 30.2 million barrels a day in December, above its 30 million limit.It also projected that demand for its oil would fall to 28.8 million barrels per day this year from 29.1 million in 2014."The yo-yo effect of the crude oil prices can be attributed to the uncertainty in the market," said Shailaja Nair, associate editorial director at energy information provider Platts, pointing to an "unstable dollar" and an "irregular equity market"."OPEC has just forecasted a drop in demand for its oil this year and this could mean that the price rally we saw this week is unlikely to last," she said.Despite the global supply glut, OPEC decided in November to maintain its collective output ceiling at 30 million barrels of oil per day.Cartel kingpin Saudi Arabia has stated that OPEC will not cut production even if the price drops to $20 per barrel, in a move aimed at hurting US shale oil producers. (AFP)                                   
 Long queues of vehicles on fuel stations were visible in different parts of the country as the petrol became rare commodity on Thursday.Federal Minister for Petroleum Shahid Khaqan Abbasi says "it may take up to ten days to bring the situation to normality".He claimed that northern areas of Pakistan had been facing the petrol shortage. The minister cited the recent decline in petroleum prices and delay in a shipment as reasons for the shortage.He said situation would improve as soon as shipment reached Pakistan. Sources told Geo News hat due to financial restraints the Pakistan State Oil has been unable import petrol.            
 Brent crude oil prices traded around $50 a barrel on Monday, with some support coming from falling US output growth but an expectation of weak Chinese economic data weighing on markets.Analysts said prices were receiving some support around current levels but added that there was not much room for larger price gains."Some positive data points helped to stabilize oil for now...Upbeat IEA comments and a falling US rig count were the latest positive news. While the news was able to halt oil's price decline, it was not enough to turn prices bullish," Morgan Stanley said on Monday in a note.China is due to report gross domestic product figures on Tuesday, which are expected to show China's full-year growth would undershoot Beijing's 7.5-percent target and would be the weakest in 24 years.In Europe, the main event of the week will be Thursday's meeting of the European Central Bank (ECB), which is considered almost certain to see the launch of a government bond-buying campaign, pointing to further euro falls against the dollar as well as to downward pressure on oil prices."Commodity markets to be driven by currency markets and expectations of ECB quantitative easing this week," ANZ bank said in a note on Monday.Brent crude futures were trading at $50.12 per barrel at 0650 GMT, down 5 cents since their last settlement, although prices dipped below $50 a barrel in earlier trading. US crude was trading down 17 cents at $48.52 a barrel.Oil prices have dropped by more than half since last June as production around the world has soared while demand slows. Although the International Energy Agency (IEA) said that a reversal in trend was possible this year, it added that prices may fall further before the market begins to rise again.Analysts said that prices would likely rise away from levels below $50 per barrel, but many noted that the longer-term outlook was for oil prices to remain at lower levels than in recent years."We do not subscribe to the theory of US$20/bbl (barrel) oil. The price may go down to the US$30/bbl level for a short while, but it will bounce back," research firm Facts Global Energy (FGE) said in its January note to clients."We will be in the US$60-80/bbl price range till end of the decade," it added.                                   
 A two member committee tasked to probe the prevailing petrol shortage on Tuesday said that the situation was a serious failure on the part of OGRA (Oil and Gas Regulatory Authority) as a regulator. The committee presented its initial findings to Prime Minister Nawaz Sharif in a meeting held here under his chairmanship to review the petroleum situation in the country.The PM directed to make structural changes to ensure that such a situation never arises again. The meeting endorsed the earlier decision of suspending four senior officials responsible for the crisis.The meeting also decided that Deputy Managing Director Pakistan State Oil (PSO) Sohail Butt was also equally responsible and ordered for his suspension as well.Meanwhile, Petroleum Minister Shahid Khaqan Abbasi said that he was never satisfied with the performance of OGRA and the authority�s performance as a regulator was not just dismal for petrol but was also same for gas.Petrol crisis: Day 8 The petrol crisis has entered its eight day in Punjab as commuters continue their search for fuel. Long queues are seen at stations which are open with people complaining of waiting for several hours for just a litre of petrol. The All Pakistan Petroleum Dealers Association said that 5.7 mn liters of petrol has been disbursed to fuel stations across Punjab during the last three days and another 1.8 mn liters will be dispersed by tonight.However, according to the Petroleum Dealers Association, the state of affairs is improving and the chaos at stations was only due to mismanagement of the pumps and had nothing to do with the supply.The association further said that all fuel stations have been directed to meet the demands of the commuters with the provided supply of petrol, as well as all stations should stop providing petrol to customers with bottles and canisters in order to avoid queues.            
 The National Electric Power Regulatory Authority (NEPRA) on Wednesday said that a notification has been issued after November�s fuel adjustment regarding a relief on electricity charges for Karachi�s consumers.According to the notification, consumers will benefit by a reduction of Rs. 1.73 per unit which would reflect in bills for March 2015.NEPRA had proposed the reduction during the first week of January and after approval it issued the notification today.              
 Asian markets extended their rally this week, while the euro dipped ahead of a much-anticipated European Central Bank policy meeting that is forecast to see it introduce more monetary easing measures.Tokyo added 0.28 percent, or 48.54 points, to end at 17,329.02, Sydney rose 0.49 percent, or 26.56 points, to 5,419.94 and Seoul was flat, dipping a marginal 0.41 points to 1,920.82.Hong Kong rose 0.70 percent, or 170.05 points, to 24,522.63 and Shanghai gained 0.59 percent, or 19.73 points, to 3,343.34. The mainland China index has recovered almost all the losses it made on Monday in reaction to a regulatory crackdown on margin trading.Eyes are firmly on the ECB meeting later Thursday, with expectations high that it will unveil a programme of asset-purchasing, or quantitative easing (QE).Speculation has been rife for several months that more stimulus would be announced as inflation continues to weaken -- prices in the euro area fell in December for the first time in five years.According to analysts at UniCredit, the market is expecting the ECB to unveil a programme worth between 500 and 800 billion euros ($580 to $930 billion).Wall Street took its rally into a third day Wednesday, the Dow ending up 0.22 percent, the S&P 500 adding 0.47 percent and the Nasdaq 0.27 percent higher.With traders placing bets on a vast round of easing the euro has been hammered in the past few weeks, especially as it comes just a few months after the US Federal Reserve wound up its own QE programme and considers an interest rate hike this year.At one point last week the single currency fell below $1.1500 for the first time since late 2003.In afternoon trade Thursday it bought $1.1624 and 136.78 yen compared with $1.1607 and 136.85 yen in US trade."The euro decision is kind of well telegraphed but euro-dollar does have more to go on the downside," Thomas Averill, a managing director in Sydney at Rochford Capital, told Bloomberg News. "The eurozone economy seems pretty sluggish at the moment and needs QE."The dollar was 117.66 yen against 117.90 yen in New York.Oil prices were largely flat after enjoying a rare fillip Wednesday. US benchmark West Texas Intermediate (WTI) for March delivery rose just 10 cents to $47.88 and Brent rose 42 cents to $49.45.On Wednesday WTI jumped $1.31 and Brent climbed $1.04.Gold fetched $1,286.66 an ounce, against $1,300.64 late Wednesday.In other markets:-- Kuala Lumpur rose 0.66 percent, or 11.66 points, to 1,781.75.Public Bank rose 0.56 percent to 17.84 ringgit, RHB Capital gained 0.13 percent to 7.73 while Malayan Banking was flat at 8.87 ringgit.-- Jakarta rose 0.73 percent, or 37.92 points, to 5,253.18.State miner Aneka Tambang rose 0.48 percent to 1,055 rupiah while palm oil producer Astra Agro Lestari fell 0.72 percent to 24,000 rupiah.-- Singapore rose 0.47 percent, or 15.83 points, to 3,370.29.Real estate developer Capitaland gained 0.59 percent to Sg$3.42 while United Overseas Bank rose 0.64 percent to Sg$23.50.-- Mumbai rose 0.41 percent, or 117.16 points, to end at 29,006.02 points.Sun Pharmaceutical Industries rose 3.85 percent to 920.05 rupees, while National Thermal Power Corporation fell 2.30 percent to 140.20 rupees.-- Bangkok rose 1.49 percent, or 22.98 points, to 1,560.34.Bank of Ayudhya soared 8.98 percent to 69.75 baht, while Thai Oil climbed 7.22 percent to 48.25 baht.-- Taipei rose 0.53 percent, or 49.80 points, to 9,369.51.Taiwan Semiconductor Manufacturing Co. fell 0.71 percent to Tw$140.0 while Acer ticked up 0.74 percent to Tw$20.45.-- Wellington slipped 0.45 percent, or 25.71 points, to 5,647.14.Spark fell 1.83 percent to NZ$3.215 while Fletcher Building was down 1.78 percent at NZ$8.27.-- Manila fell 0.77 percent, or 57.79 points, to 7,416.31.JG Summit Holdings plunged 11.16 percent to 62.10 pesos, Metropolitan Bank dropped 2.86 percent to 90.00 pesos and Ayala Land ended 0.29 percent down at 34.85 pesos. (AFP)                                   
 The Economic Coordination Committee of the Cabinet (ECC) on Friday approved export of 1.2 million tons of wheat and imposed a bans on import of wheat byproducts. Federal Minister for Finance Senator Ishaq Dar chaired the meeting and approved the export of 1.2 million tons of wheat out of the surplus stocks available in Punjab and Sindh.Accordingly, Punjab will export 800,000 tons while Sindh has been allocated export quota of 400,000 tons of wheat. Punjab will get a subsidy of Rs55 per metric ton for export while for Sindh this subsidy would be Rs45 per metric ton.Taking notice of unhindered import of wheat byproducts, the ECC also issued instructions for immediate ban on their import.The ECC considered a proposal moved by the Ministry of States and Frontier Regions (Safron) and approved the provision of 30,000 tons of wheat to the United Nations World Food Programme for distribution among Temporarily Displaced Persons (TDPs), catering for the period up to March 2015.The ECC also observed that in case of further requirements, Safron could revert to the forum with a fresh proposal.The ECC considered and approved a proposal by the Water and Power Minstry to attract private sector investment in transmission line projects with the inclusion of upfront tariff as an option. The ECC also accorded approval for the extension of GSA between OGDCL and Fauji Kabirwala Power Company Limited (FKPCL) for provision of 20 mmcfd of gas at the earliest but not later than February 1. Till that time, LNG is made available to the company for power generation. At its maximum generation capacity utilisation, the plant will generate 157 MW of electricity.The ECC approved Issuance of Policy directive to NEPRA to build in costs incurred by the power sector into the tariff without affecting the end consumer.The committee also approved the re-lending of the buyer credit loan to PAEC as per actual terms and conditions available to the Government of Pakistan. Based on the above approval, the revised rate comes to nine per cent comprising actual cost of loan and exchange rate risk.                                   
 Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's long-serving oil minister.King Abdullah died early on Friday and his brother Salman became king, the royal court in the world's top oil exporter said in a statement.Salman named his half-brother Muqrin as heir, rapidly moving to forestall any succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders.While the new king is not seen as likely to change Abdullah's policies of keeping output high to protect the OPEC cartel's market share, some analysts said the succession has focused attention on the future of the oil minister Ali Al-Naimi."King Abdullah was the architect of the current strategy to keep production high and force out smaller players instead of cutting," said John Kilduff, partner, Again Capital LLC in New York, adding that he expected Salman to keep production high.FGE analyst Tushar Bansal said: "By and large, as of now, no major change is expected in Saudi policies" but he said the market would focus on whether the oil minister might step down."Ali Al-Naimi has been the oil minister since 1995... It was reported that he expressed a desire to step down, but King Abdullah asked him to stay on for as long as he is around. So, the real question is, if there is a new oil minister soon, will it lead to a change in Saudi energy policy?"IHS oil consultant Victor Shum said speculation over the fate of the oil minister could add to market uncertainty though he did not expect a change of minister or in overall policy."The decision on Saudi Arabia to keep pumping (oil) was made regardless of who the king may be," said Shum.Saudi leaders were also unlikely to want to repeat some previous policy misfires.In the 1980s, Saudi Arabia cut its own output to prop up prices in the face of falling demand and rising supplies from non-OPEC suppliers but was dealt a double blow from lower prices and reduced output.Saudi policymakers would be determined not to make the same mistake again, analysts said.Crude oil futures jumped on Friday after news of the Saudi king's death but later came off their highs and were still trading at levels more than 50 percent below their most recent peaks in June, 2014. [O/R]"This little spike in prices is understandable... It should be sold off quickly and it won't last long at all," said Mark Keenan, an analyst at Societe Generale.                                   
 The National Electric Power Regulatory Authority (NEPRA) on Friday said that it was unlawful of K-Electric to collect meter rent of Rs. 7.50 per customer.According to a NEPRA spokesman, the regulatory authority has immediately stopped K-Electric from collecting the rent. It has also directed the organisation to return all the collected rent so far back to about 2.2 million customers.            
 Finance Minister Ishaq Dar here on Sunday chaired a briefing session by managing director Pak-Brunei Investment Company seeking details of its present investment financing profile and immediate future plans. Pak-Brunei Investment Company is an investment finance company established as a joint venture between government of Pakistan and Brunei Investment Agency (BIA) that commenced operations in August 2007 said a press release. Managing Director Ayesha Aziz said that Pak-Brunei plans to increase its small and medium enterprise footprint across various regions of the country. She said that the company was in final stages of launching a modarba fund as its special future venture. The First Fund based on PE model will be established by March 2015.Pak-Brunei also has plans for establishment of specialized vehicles for warehousing collateral management. Finance Minister appreciated the company�s 100% recovery ratios particularly in SME financing and handling projects facing financial distress.             
 Pakistan's ongoing fuel shortage that has led to worsening power blackouts is weighing on its credit worthiness and hindering its ability to meet key reform targets laid out by the IMF, ratings agency Moody�s warned Monday. The country is currently in the grip of one of its worst power crises in years due to a shortfall in imported oil, with the situation exacerbated Sunday by an attack on a key powerline in restive Balochistan province. Moody�s said that increasing energy imports without addressing structural issues that create so-called circular debt "will further strain Pakistan's budget and balance of payments, a credit negative". "Fuel shortages also reflect the strained finances of state-owned distribution companies and the fuel importer, Pakistan State Oil corporation, and are a setback to the sector's progress on reforms made so far under Pakistan's financial support program with the International Monetary Fund."The IMF granted a $6.6-billion loan to Pakistan in September 2013 on the condition that it carry out extensive economic reforms, particularly in the energy and taxation sectors.Moody�s, which in July 2014 upgraded Pakistan's rating outlook from "negative" to "stable" in a boon for the shaky South Asian economy, said that structural reforms had been a "key driver" in its decision last year. "Circular debt" -- brought on by the dual effect of the government setting low electricity prices and customers failing to pay -- is at the heart of the crisis. State utilities lose money, and cannot pay private power generating companies, which in turn cannot pay the oil and gas suppliers, who cut off the supply. The fuel crisis began last week when Pakistan State Oil was forced to slash imports because banks refused to extend any more credit to the government-owned company, which supplies 80 percent of the country�s oil. The shortfall led to long queues of angry motorists at petrol stations, though these have since dissipated as fuel supplies have reached the pumps. But Moody�s warned that the government of Prime Minister Nawaz Sharif, which made solving the energy crisis a key campaign pledge, had so far failed to offer policy solutions and increasing oil supplies would only add to the fiscal burden. "The government�s targeted fiscal deficit of 4.5 percent of GDP in fiscal 2015 from 4.7 percent in fiscal 2014 is already impeded by delays in implementing electricity tariff adjustments and legal challenges related to tax collections," it said. Increasing fuel imports, which currently comprise 35 percent of total imports would further weigh on Pakistan�s import bill, it added.                                   
 In a move to give relief to consumers, sources in the Finance Ministry said on Tuesday that the price of petrol and petroleum products are expected to decrease further from February 1.According to sources, the price of petrol is expected to be slashed by Rs 10 per litre, High Speed Diesel by Rs 8.50 per litre, Light Diesel by Rs 11 per litre, HOBC by Rs 14 per litre, and Kerosene by Rs 12 per litre.Global crude oil prices have fallen by 50 percent since June 2014, and to provide consistent relief to consumers, the Pakistan government has decreased the price of petrol by Rs 29 since the last four months and brought the price of Diesel down by Rs 23 in the same time frame.Fuel crisis in the country began last week when Pakistan State Oil (PSO) was forced to slash imports because banks refused to extend any more credit to the government-owned company, which supplies 80 percent of the country�s oil.The shortfall led to long queues of angry motorists at petrol stations, though these have since dissipated as fuel supplies have reached the pumps.            
 The euro extended its gains against the dollar Tuesday while Asian equities climbed on hopes Greece�s new government will be able to negotiate a bailout deal with the EU and IMF that will avoid it leaving the eurozone.Regional investors took their lead from advances in Europe and New York, where news of Sunday�s Greek election win for anti-austerity party Syriza had been largely factored in, analysts said.Tokyo jumped 1.44 percent by lunch, Sydney added 0.67 percent, Shanghai edged up 0.10 percent, Seoul rose 0.46 percent and Hong Kong was flat.Markets have been buoyed by rhetoric coming out of Athens and its creditors that raises hopes they two sides can reach an agreement over Greece�s repayment of its 240-billion-euro bailout.Syriza had campaigned on renegotiating terms of the lifeline -- which included swingeing spending cuts and painful tax hikes -- and there are concerns it will default on its repayments, leading to its possible exit from the eurozone.But International Monetary Fund head Christine Lagarde said she was prepared to continue its financial support to the country, while some European finance ministers suggested they were willing to talk, as long as Syriza did not demand its debt be wiped out.The messages coming out of Europe helped shares higher. In Europe, equities in London, Paris and Germany all closed with healthy gains, although Athens lost more than three percent.Dow edged 0.03 percent higher, the S&P 500 added 0.26 percent and the Nasdaq put on 0.29 percent."The Greek elections had the potential to unnerve the market," Nader Naeimi, at AMP Capital Investors in Sydney, told Bloomberg News."It�s quite encouraging that the new government and the EU are willing to negotiate. The market is in a risk-on mode."The euro plunged to as low as $1.1098 at one point in Asia Monday, the lowest level since September 2003, before recovering later in the day to close out in New York at $1.1234.On Tuesday in Asia it bought $1.1250.It also sank to 131.55 yen Monday in Asia before bouncing to end the day at 133.12 yen. It bought 133.31 yen in Tokyo Tuesday.The dollar edged up to 118.47 yen from 118.49 yen in US trade.Oil prices edged up slightly after falling to fresh six-year lows Monday, despite a warning from the OPEC cartel that prices could punch $200 owing to shrinking investment in exploration.US benchmark West Texas Intermediate for March delivery rose five cents to $45.20 while Brent crude for March gained 13 cents to $48.29.Gold fetched $1,276.39 an ounce, against $1,281.39 late Monday. (AFP)                                   
 Oil prices rebounded Tuesday from six-year lows as the dollar weakened after disappointing US economic data.The US benchmark, West Texas Intermediate (WTI) for March delivery, rose $1.08 (2.4 percent) to close at $45.16 a barrel.Brent North Sea crude for March settled at $49.60 a barrel in London, up $1.44 from Monday�s closing level."The market has found a bottom in the mid-40 range," said Kyle Cooper of IAF Advisors.Crude futures sank Monday to their lowest closing levels since early 2009. Crude has shed nearly 60 percent of its value in an almost uninterrupted slide since June due to a supply glut, largely boosted by robust US shale-oil production and weaker global economic growth.The greenback has been strengthening for months, making dollar-priced oil relatively more expensive, adding to the pressure on the oil market.A slight easing in the dollar Tuesday against major rival currencies such as the euro, yen and pound underpinned the buying, Cooper said."I didn�t see anything bullish today" for WTI, he said. "Equities are down, durable goods (are) not that good."New orders for long-lasting US industrial goods unexpectedly fell in December, by a steep 3.4 percent, signaling some persistent weakness in the manufacturing sector.Saudi Aramco, the world�s largest oil company in terms of crude production and exports, acknowledged that prices have fallen too far but it was up to the market, not OPEC producers, to shore them up."It�s too low for everybody," said Khalid al-Falih, the president of the state-owned energy giant, told a conference in Riyadh. "I think even consumers start to suffer in the long term."Falih also said US shale-oil production is important for the world�s long-term energy future and Saudi Aramco has earmarked an additional $7 billion for its own shale projects.The kingdom is the leading exporter and top producer in the Organization of the Petroleum Exporting Countries, which provides about a third of global oil supplies.In November, OPEC resisted calls to reduce output in the face of falling prices, keeping its output ceiling at 30 million barrels per day in a decision that exacerbated the global price slump. (AFP)                                   
 State Bank of Pakistan (SBP) governor on Thursday urged the country�s Islamic banks to develop ways to reward their customers in line with a surge in the sector�s profitability, or face regulatory action. Islamic finance is experiencing a revival in Pakistan, aided by an ambitious five-year plan that regulators hope will double the industry�s share of the banking sector to 20 percent by 2020.A growing client base and improving asset quality helped Islamic banks post profits before tax of 12 billion rupees ($119.1 million) in the third quarter of last year, almost double the year-earlier amount, central bank data shows. But regulators want to tackle consumer perceptions that Islamic banks falter when it comes to social responsibility and ethical banking practices.The average financing-to-deposit spread - the difference between what banks charge for financing and what they pay their depositors - for all lenders, Islamic and conventional, remains high and should be "reasonably rationalised", central bank governor Ashraf Wathra said in a speech to a gathering of industry executives on Monday. He did not specify a satisfactory level, but singled out Islamic banks as the ones needing to reward customers in line with a rise in profits."Banks were advised to come up with their own solutions or the SBP will apply sharia-compliant measures to address the issue," said Wathra. He did not elaborate, but in the past the central bank has prescribed minimum targets for banks to lend to specific sectors of the economy such as agriculture and small business. Islamic banks follow religious principles which ban the charging of interest and gambling, and stress the sharing of risk and profits. The industry has developed a range of sharia-compliant financial tools, some with greater profit-sharing qualities than others. Islamic banks fall short when it comes to using strongly profit-sharing instruments such as musharaka, whose share of overall Islamic financing in Pakistan was only 10.1 percent as of September, compared to 4.2 percent a year earlier. Musharaka is a partnership in which two or more parties agree to provide capital, sharing both profits and losses according to a stipulated ratio. By contrast, murabaha - a cost-plus-profit arrangement where one party agrees to buy merchandise for another - commands the lion�s share of financing by the country�s Islamic banks, at 30.3 percent. Murabaha is often criticised for lacking economic substance and its resemblance to a conventional loan.            
 Oil tumbled to near a six-year low Wednesday as US crude stocks soared to a record high, sparking fresh fears over the growing global supply glut.US benchmark West Texas Intermediate (WTI) for March delivery dropped $1.78 to $44.45 a barrel on the New York Mercantile Exchange, its lowest close since March 2009.European benchmark Brent North Sea crude for March delivery lost $1.13 at $48.47 a barrel in London.Data showed that US crude supplies surged 8.9 million barrels to 406.7 million in the week ending January 23, according to the US Department of Energy.That was the highest level since the US government began keeping weekly records in 1982. It is also above monthly data since April 1931."It�s not a pretty picture," said Bart Melek, head of commodity strategy at TD Securities. "We�re seeking bottom but I don�t think we�re there yet."The oil market has collapsed by more than 50 percent since June, plagued by plentiful crude supplies, weak global demand and the decision of the Organization of Petroleum Exporting Countries to let prices fall."If proof were needed that oil prices remain constrained by too much supply, this afternoon�s US inventory data confirmed it," said CMC Markets analyst Michael Hewson."As such, prices could well have further to fall with prospects of a drop below $40 a barrel becoming a reality in the short to medium term." (AFP)                                   
  Federal Minister for Finance Ishaq Dar on Saturday announced a five percent increase in the General Sales Tax (GST) on petroleum products.Dar said that the increment would enable a recovery of 12 billion rupees.The minister, however, went on to say that the ministry would still face a loss of 40 billion rupees.Earlier today, Prime Minister Nawaz Sharif announced a decrease in the price of petroleum products.Petrol has been decreased by Rs 7.99, Hi-Octane by Rs 11.82, Light Diesel by Rs 9.56 and kerosene oil by Rs 10.48 per litre.            
 US authorities are investigating the credit rating agency Moody's over its glowing assessments of mortgage deals in the runup to the 2008 financial crisis, The Wall Street Journal reported Sunday.Citing people familiar with the situation, the newspaper said Justice Department officials had met with several former Moody's executives. It wasn't yet clear if the probe would result in a lawsuit.If the investigation is confirmed, Moody's would become the second major US credit-rating firm in the Justice Department's crosshairs, after a case against Standard & Poor's.S&P is expected to within days agree to pay $1.37 billion to settle lawsuits over its rosy grading of mortgage bonds in the financial crisis, sources told AFP.Neither Moody's nor the Justice Department were immediately reachable for comment Sunday.US authorities are probing whether the firm compromised its standards to score deals, the Journal reported, and the focus is on residential mortgage deals from about 2004 to 2007.Positive ratings on what turned out to be extremely risky mortgage deals, known as subprime loans, were a main cause of the 2008 financial collapse.Investors rely on rating firms' grades to assess risk.Numerous banks have already paid huge fines and settlements for their roles in packaging and selling the bonds as low-risk, solid investments.            
 Global oil prices slid Wednesday following a three-day rally as dealers were divided on whether the commodity has bottomed out after a plunge of nearly 60 percent since June. US benchmark West Texas Intermediate (WTI) for delivery in March shed $1.72 to stand at $51.33 a barrel compared with Tuesday�s close.Brent North Sea crude for March slid $1.15 a barrel to trade at $56.76 in London afternoon trade.WTI had soared $3.48 Tuesday to record its highest finish since December 31, while Brent jumped $3.16 to a similar closing peak, as dealers cheered signs that the oil industry is tightening exploration activities to cap a supply glut.Ken Hasegawa, an energy trading manager at Newedge Group in Tokyo, said the crude market was "extremely volatile" after the three-day rally that began Friday saw prices surge nearly 20 percent."It has become increasingly difficult to discern the direction of the prices of crude oil, but the fundamentals remain unchanged," Hasegawa told AFP. He added that prices could "fluctuate by increasing up to $10 and falling up to $10" in the short term.Deep cuts in capital spending by major oil companies, including new announcements Tuesday by BP and BG Group, had suggested there would be tighter supplies in the future. The Baker Hughes North America rig count report for the week to January 30 showed a drop of 128 rigs to 1,937. That compared with 2,393 a year ago.Some analysts however remain doubtful that the current oil price rebound will be sustained as supplies still outweigh demand in the immediate term.The oil market has lost more than half its value since June largely owing to a surge in global reserves boosted by robust US shale oil production. The problem was exacerbated in November after OPEC decided to maintain output levels despite plunging prices.The 12-nation Organization of Petroleum Exporting Countries (OPEC) cartel pumps about 30 percent of global crude supplies. (AFP)                                   
 Federal State Minister for Water and Power Abid Sher Ali on Wednesday said that K-Electric should step up production of electricity with immediate effect and end load shedding.The minister while claiming that there is no unannounced load shedding in the country, he added that the few areas facing load shedding was due to line losses.He went on to say that Sindh faced more load shedding because of 131 feeders facing line losses and that urban areas were facing six to seven hours while rural areas were facing eight to nine hours of load shedding. He added that the industries were facing four hours of load shedding.However, PPP�s Fahmida Mirza contradicted the minister�s figures saying that he is wrong about his statistics and that Badin was facing 20 to 22 hours of load shedding.              
 Oil prices fell further Thursday as the market was awash with ample US supplies and the dollar strengthened, dealers said.US benchmark West Texas Intermediate (WTI) for delivery in March shed $1.32 to trade at $49.09 a barrel compared with Wednesday�s close.Brent North Sea crude for March slid $1.12 to stand at 55.28 a barrel around midday in London. Crude prices on Wednesday snapped a three-day rally, with WTI sinking 8.7 percent owing to climbing US crude stockpiles.Analysts said prices are weighed down also by the euro�s fall on news that the European Central Bank had cut off Greek banks� access to a key source of much-needed cash.In a decision that rattled global financial markets, the ECB said Wednesday it would no longer allow Greek banks to use government debt, which has a junk rating, as collateral for loans."The Greek situation is worth keeping an eye on as it massively impacts the value of the euro against the US dollar," said Shailaja Nair, associate editorial director at energy information provider Platts.A sinking euro makes dollar-priced oil more expensive, denting demand and adding downward pressure on crude prices, which have already been battered by a supply glut and weak demand.Crude has lost more than half its value since June, when prices were at more than $100 a barrel.Global supplies have been boosted by surging US shale oil production and a decision by the Organization of the Petroleum Exporting Countries in November to keep current output levels. (AFP)                                   
 Talks between Pakistan and the International Monetary Fund (IMF) concluded successfully on Thursday, with the IMF agreeing to release $518 million by end of March as the next tranche of the three-year $6.6bn Extended Fund Facility (EFF) programme.�The mission and the Pakistani authorities have reached staff-level understandings on a Memorandum of Economic and Financial Policies on the sixth review of the program, which, upon approval by the IMF�s Management, will be discussed by the IMF Executive Board. "Upon completion of the review, SDR 360 million (about US$518 million) would be made available to Pakistan,� said the outgoing chief of the IMF Mission to Pakistan Jeffery Franks.Newly-announced Chief of IMF Mission to Pakistan, Herald Finger, will replace Franks after the talks.At a jointly held press conference with the IMF staff in Dubai, Finance Minister Ishaq Dar reiterated that there would be no increase in gas and electricity prices. Pakistan also informed the IMF of its expenditure of Rs. 150 billion on the implementation of the National Action Plan (NAP) as well as repatriation of Internally Displaced Persons (IDPs).Also agreed upon was Rs.60 billion in tax cuts for Pakistan, while it was decided that the target for tax cuts should reach Rs. 2750 million by June.Dar said that Pakistan�s foreign exchange reserves have increased to over $15 billion, entitling the country to receive subsidised loans.However, due to the price reduction of petrol in the country, tax revenue decreased to Rs. 68 billion. �Tax revenues were below the second-quarter indicative target by about 0.1 percent of GDP due in part to legal challenges to some revenue measures and to the fiscal effects of the plunge in international oil prices,� said a press statement from the IMF mission. �While progress has been made in addressing the structural impediments to higher and more inclusive growth, important challenges remain, such as steps to enhance the independence of the SBP, permanently resolve energy sector deficiencies, complete the legal framework for deposit insurance, and privatize or restructure public enterprises,� noted the IMF.                                   
 The final shipment of Chinese manufactured Rail Engines arrived in Pakistan on Friday. Federal Railways Minister, Khwaja Saad Rafique says, the inclusion of the new engines will help ease the shortfall faced by Pakistan Railways. The shipment includes 2000 and 3000-horse-power engines which will be used to pull freight bogeys. Rafique told journalists, the inclusion of 15 new engines has brought Pakistan Railways total strength to 268 engines however more engines are still required.             
 Oil prices extended gains on Friday at the end of a volatile trading week, as markets awaited the release of key US jobs data.US benchmark West Texas Intermediate (WTI) for March delivery jumped $1.41 from Thursday�s close to $51.89 a barrel.Brent North Sea crude for March rallied $1.64 to $58.21 a barrel in London afternoon deals. WTI on Thursday jumped $2.73 in New York and Brent advanced $2.41, erasing earlier losses. "It has been a fairly volatile but robust week for the oil market," said Myrto Sokou, senior research analyst at Sucden brokers."Crude oil inventories continue to remain fairly high following ongoing large builds of crude stocks in recent weeks."All eyes were on the United States and its eagerly-awaited jobs report due Friday that is expected to show the world�s biggest economy added 235,000 jobs last month, a slowdown from December, according to analysts� forecasts.Oil prices plunged by about 60 percent from their June peaks to a six-year low last week, largely owing to a surge in global reserves boosted by robust US shale production.The problem was exacerbated in November after the OPEC cartel insisted that it would maintain output levels despite plunging prices. The 12-nation group pumps about 30 percent of global crude. (AFP)                                   
 The Ministry of Water and Power issued a statement on Friday saying that the contract to supply 650MW of electricity to K-Electric cannot be renewed.The ministry went on to say that K-Electric should ensure its own production at full capacity to meet the demands.It further said that in case of an emergency shortage, at most 200 to 300MW could be provided.A summary of the decision has been sent to Prime Minister Nawaz Sharif.According to a K-Electric spokesperson, he warned that if the supply is stopped then there could be a possible blackout in the city as the company has no backup plan. He also said that the matter of the ministry not supplying the requirement is sub judice and could lead to contempt of court. Meanwhile, Karachi Chamber of Commerce & Industry President Iftikhar Ahmed Vohra said that if the national grid fails to provide the required demand, industrial production may be heavily affected.He demanded from the government that it should reconsider the supply of 650MW and include it in the contract.On January 26, the ministry had directed the National Power Control Centre (NPCC) not to suspend electricity supply to K-Electric following the expiry of the power distributor�s 5-year agreement for 650 MW supply on January 25. According to sources, a renewed contract with fresh conditions was under consideration earlier.            
 Tokyo stocks opened 1.09 percent higher on Friday, with investor sentiment supported by sharp gains on Wall Street and assurances that Greek banks will get liquidity funding.The Nikkei 225 index at the Tokyo Stock Exchange gained 191.56 points to 17,696.18 at the start.The Dow Jones Industrial Average jumped 1.20 percent Thursday on surging oil prices and merger activity by Pfizer.The euro rebounded as emergency funding was promised for Greek banks.The common European currency bought $1.1472 and 134.83 yen early Friday, compared with $1.1475 and 134.89 yen in New York Thursday afternoon.The euro plunged on Wednesday after the European Central Bank said it would not longer allow Greek banks to use government debt as collateral for loans.But on Thursday assurances that the banks could still tap the ECB�s emergency liquidity assistance programme helped quell fears of an immediate banking crisis.The access should help protect them against a possible run by depositors while Athens seeks to renegotiate its international bailout with creditors.The dollar was at 117.51 yen against 117.55 yen in US trade Thursday as investors waited for a key US jobs report to be released later Friday.            
 The consistent fall in the price of petrol saw a record sale in the month of January, with a 32 percent increase as compared to January 2014.Consumers across the country bought 0.39 million tonnes of petrol in January this year.According to industry sources, the price difference between petrol and compressed natural gas (CNG) dropped from 56 percent in January 2014 to 31 percent in January 2015.Global crude oil prices have fallen by 50 percent since June 2014, and to provide consistent relief to consumers, the Pakistan government has decreased the price of petrol by Rs 29 since the last four months and brought the price of Diesel down by Rs 23 in the same time frame.            
 Oil prices advanced further Monday with buying boosted by a dip in North American crude production, while a robust US jobs report also provided support, analysts said. US benchmark West Texas Intermediate for delivery in March advanced $1 to $52.69 a barrel compared with Friday�s close.Brent North Sea crude for March won 63 cents to stand at $58.43 a barrel in London afternoon trade.Last week saw WTI surge seven percent and Brent add 9.4 percent, their best weekly gains since February 2011.Nicholas Teo, market analyst at CMC Markets in Singapore, said the gains were "motivated by supply-side influences" in the United States.A survey by US oil services firm Baker Hughes Inc released Friday showed the number of rigs drilling for oil in the United States fell by 83 to 1,140 in the week to February 6. The dip followed a cut of 94 rigs the previous week.Bloomberg News reported that the rig count was standing at its lowest level since December 2011.The drop, coupled with announcements of deep cuts in capital spending by major oil companies including BP and BG Group, suggests tighter supplies in the future.Oil prices have plunged by about 50 percent from their June peaks, largely owing to a surge in global reserves boosted by robust US shale production.Teo said a surprisingly robust jobs report in the United States was also supporting prices as it heralds stronger demand.The Labor Department on Friday reported that the world�s biggest economy added 257,000 jobs in January and revised upward already healthy growth in the previous two months.The unemployment rate edged up to 5.7 percent from 5.6 percent, but that was in part because more people were actively seeking jobs. (AFP)                                   
 British bank HSBC Holdings Plc admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets."We acknowledge and are accountable for past compliance and control failures," HSBC said on Sunday after news outlets including French newspaper Le Monde and Britain�s The Guardian published allegations about its Swiss private bank. The Guardian, along with other news outlets, cited documents obtained by the International Consortium of Investigative Journalists (ICIJ) via Le Monde.HSBC said that its Swiss arm had not been fully integrated into HSBC after its purchase in 1999, allowing "significantly lower" standards of compliance and due diligence to persist.The Guardian alleged in its report that the files showed HSBC's Swiss bank routinely allowed clients to withdraw �bricks� of cash, often in foreign currencies which were of little use in Switzerland, marketed schemes which were likely to enable wealthy clients to avoid European taxes and colluded with some to conceal undeclared accounts from domestic tax authorities.HSBC said the Swiss private banking industry, long known for its secrecy, operated differently in the past and this may have resulted in HSBC having had "a number of clients that may not have been fully compliant with their applicable tax obligations."Its private bank, especially its Swiss arm, had undergone "a radical transformation" in recent years, it said in a detailed four-page statement.HSBC's Swiss private bank was largely acquired as part of its purchase of Republic National Bank of New York and Safra Republic Holdings, a US private bank.HSBC said the number of accounts in its Swiss private bank had fallen from 30,412 in 2007 to 10,343 at the end of last year and it was cooperating with authorities investigating tax matters.The data was supplied by Herve Falciani, a former IT employee of HSBC's Swiss private bank. HSBC said Falciani downloaded details of accounts and clients at the end of 2006 and early 2007. French authorities have obtained data on thousands of the customers and shared them with tax authorities elsewhere, including Argentina.Switzerland has charged Falciani, who Reuters was unable to reach for comment, with industrial espionage and breaching the country's secrecy laws. Falciani has previously told Reuters he is a whistleblower trying to help governments track down citizens who used Swiss accounts to evade tax.Some of the details of the list have been released before. The names of 2,000 Greeks with HSBC accounts was made public in 2010 and dubbed the "Lagarde List" after former French finance minister Christine Lagarde. France passed the names to Greece to help it crack down on tax evasion.                                   
 Oil prices fell in Asia on Tuesday after the International Energy Agency (IEA) predicted that global oil prices will recover only partially over the next five years, analysts said.US benchmark West Texas Intermediate (WTI) for March delivery slipped 74 cents to $52.12, while Brent crude for March eased 77 cents to $57.57 in afternoon trade. Citing a major shakeup in the oil markets, the IEA said in its five-year forecast that prices will recover from current levels of around $50-60 per barrel but remain considerably below the more than $100 price tags reached the slump began in June."The global oil market looks set to begin a new chapter of its history, with markedly changing demand dynamics, sweeping shifts in crude trade and product supply, and dramatically different roles for OPEC and non-OPEC producers in regulating upstream supply," the IEA said.It added that it sees market rebalancing occurring "relatively swiftly", with increases in inventories halting mid-year and the market tightening."This morning�s slight dip is likely due to the IEA report that predicts only a slow recovery for oil prices. However this is only in the short term as the market fundamentals have not changed," said Shailaja Nair, associate editorial director at energy information provider Platts.Prices have plunged from their mid-2014 peaks largely owing to a surge in global reserves boosted by robust US shale production and weak global demand. (AFP)                                   
 The Intra-Kashmir trade service will resume tonight after six days of its suspension at the Chakothi crossing point, Geo News reported on Wednesday.The trade service was suspended after authorities in Indian occupied Kashmir leveled allegations of smuggling.It was suspended when a truck from Azad Kashmir was stopped by Indian authorities allegedly said to be carrying contraband.According to Director General (DG) Azad Kashmir Trade and Travel Authority (TATA) Brigadier (R)Imtiaz Wayen, 50 trucks from AJK and 21 from IoK will return tonight.On Sunday in an interview with AFP, Basharat Iqbal, trade facilitation officer on the Pakistani side of the border said: �We were informed by the Indian authorities on Friday evening that they have stopped 22 Pakistani trucks which crossed the Line of Control (LOC) earlier that day.""They told us that they had discovered 12 kilograms (26 pounds) of opium from a truck carrying oranges and were taking an action against the driver. After the incident, we also held 50 Indian trucks on Pakistani Kashmir side, because traffic crosses the border simultaneously," said Iqbal.Imtiaz Wayen, director-general of Pakistani Kashmir�s trade and travel authority, said India was not entitled to stop Pakistani drivers on grounds of smuggling."According to our agreement, if they find any banned item in our trucks they are bound to hand over that item and the relevant truck driver to us for further action," he said.                                   
 Prime Minister Nawaz Sharif on Wednesday called for speedy implementation of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project terming it critical for the regional countries.The meeting in Islamabad included Petroleum Ministers of Turkmenistan, Afghanistan and India as well as Pakistan�s Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi.The PM said that Pakistan would play a positive role for the early progress on TAPI and any delay would add heavily to the cost.He went on to say that Pakistan was facing an acute shortage of gas and that this project would help Pakistan overcome the crisis. On February 6, Minister of State for Petroleum and Natural Resources Jam Kamal said that Pakistan would host technical group meetings of the TAPI project here during this month. All the countries under TAPI would participate in the meetings as the gas sales and purchase agreement had already been signed. He also said that project development was in progress while consultants were engaged in carrying out feasibility study and design.             
 Cricket fever has gripped Australia with the World Cup just days away. Fans from around the world have thronged to the country and hotels are capitalising. Prices of rooms have almost doubled to 300 dollars and hotels are experiencing full bookings. Experts estimate that during the mega event Australia will generate 1.5 million US dollars just from hotel bookings. If the cost of internal air travel, taxis and tickets is taken into consideration, Australia stands to generate two million US dollars during the World Cup.             
 Microsoft Devices Pakistan announced the availability of Nokia 215 Dual SIM, its most affordable Internet-ready phone, in the country. The Nokia 215 Dual SIM is designed to connect and introduce first-time mobile phone buyers to the Internet and new digital experiences. The Nokia 215 Dual SIM will expand the reach of Microsoft services at more affordable prices.Nokia 215 Dual SIM will allow more people to access popular Web content and digital services, and enable them to enjoy online experiences via Opera Mini browser, Bing search, MSN Weather, Twitter and Facebook. People can stay in touch with friends and family using Facebook and Messenger with instant notifications. With SLAM, people can share content between devices and make hands-free calls using Bluetooth 3.0.With a fresh design, durable quality and outstanding battery life, this entry-level mobile phone is an owner�s delight. It has all the essentials for a mobile-first world such as built-in torchlight, up to 20 hours of talk-time, outstanding battery life (up to 21 days for the Dual SIM), MP3 playback of up to 50 hours, FM radio playback of up to 45 hours and a VGA camera.Commenting at the launch of Nokia 215 Dual SIM, Kamran Khan, Country General Manager, Microsoft Mobile Devices Pakistan said: �With our ultra-affordable mobile phones and digital services, we see an inspiring opportunity to connect the next billion people to the Internet for the first time. The Nokia 215 Dual SIM is perfect for people looking for their first mobile device, or those wanting to upgrade to enjoy affordable digital and social media services, like Facebook and Messenger.�The Nokia 215 Dual SIM comes in Bright Green, Black and White, and will be available for an estimated retail price of PKR 4,100/-.                                   
 Federal Finance Minister Ishaq Dar on Thursday said that only companies will be issued National Tax Numbers (NTN) from now onwards while the Computerised National Identity Card (CNIC) numbers will be treated as tax numbers for individuals.While addressing the National Assembly today, Dar said that a shortfall of Rs 196 billion in revenue collection is expected this year and the government has taken measures to reduce it by Rs 46 billion by imposing additional tax.The minister added that the increase in GST on petroleum products and a change in other taxes was imperative to meet various needs including release of funds to the provinces from the devisable pool. He also said that expenditures in the wake of Zarb-e-Azb operation cannot be ignored, as well as factors such as debt servicing and payment of salaries.He went on to say that the government has lowered the revenue collection target to Rs. 2691 billion from Rs. 2810 billion.            
 Government has put in place new taxes of Rs4 billion while regulatory duty on 314 luxury items has been ratcheted up to 10 percent.The decision comes weeks after the central bank suggested in its monetary policy report that it would be challenging for the government to meet the revenue targets for the current fiscal year.According to the notification of the Federal Board of Revenue (FBR), the Federal Board of Revenue (FBR) has also raised regulatory duty on furnace oil, scraped metal, imported make-up and electronic appliances.Regulatory duty on imported chocolates has been increased by 10 percent and on electronic goods to 5 percent. The duty has been raised from 5 to 10 percent on scraped metal, imported makeup.The above decisions were made during the last meeting of the Economic Coordination Committee (ECC).            
 Oil prices edged higher in Asia Thursday but gains were capped owing to concerns about surging stockpiles in the United States, the world�s top consumer, analysts said. US benchmark West Texas Intermediate for March delivery rose 69 cents to $49.53 while Brent crude for March gained 34 cents to $55.00 in afternoon trade."There is some optimism in the market at the moment, but the fundamentals have not changed," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP. "The increased US stockpiles adds to the worry about ample global supply, which is the main cause for the current bearish market," he added. The US Department of Energy reported on Wednesday that commercial crude reserves rose 4.9 million barrels in the week ending February 6.Stockpiles were "at the highest level for this time of year in at least the last 80 years", the agency added.Oil prices have been under pressure for months, plunging about 60 percent to just over $40 a barrel between June and the end of January.However, they have recovered slightly in recent weeks as the number of drilling rigs has fallen and oil companies have trimmed some investment.Investors are also monitoring talks on Greece�s demands to renegotiate its international bailout as the risk of a debt default looms. A meeting between Finance Minister Yaris Varoufakis and his counterparts from the eurozone late Wednesday broke up without agreement, with deliberations now set to go down to the wire next week. "We expect price action to remain choppy as markets await for direction," said Singapore�s United Overseas Bank. (AFP)                                   
 World oil prices rose Friday, extending solid gains in the previous session in response to reports that leading petroleum producers are curtailing investment.US benchmark West Texas Intermediate (WTI) for March delivery added 75 cents to $51.96 a barrel compared with Thursday�s close.Brent North Sea crude for April leapt $1.02 to $60.30 a barrel in London afternoon trade -- the first time this year above $60.Crude futures had rallied by almost $2.50 on Thursday on reports of falling investment in the oil sector.Daniel Ang, investment analyst at Phillip Futures in Singapore, said dealers are wary about the impact of such cuts in the immediate term. "We will continue to see range-bound trading in the immediate term with little change to fundamentals," Ang told AFP. "The main thing is crude production. As long as production levels don�t go down for now, it is hard to see a reversal of low oil prices," he said."Markets seem to be ready for prices to go up again. They are just waiting for a sign that production will be significantly cut." A US stockpiles report Wednesday showing crude reserves standing at an 80-year high for this time of the year has exacerbated concerns about a global supply glut. Oil prices have been under pressure for months, plunging about 60 percent to just over $40 a barrel between June and the end of January.However, they have recovered slightly in recent weeks as the number of drilling rigs has fallen and oil companies such as Total and Royal Dutch Shell trimmed some investment. (AFP)                                   
 The price of furnace oil used in the production of electricity in Pakistan has increased by about Rs 2000 per tonne to reach Rs 37400 per tonne.A rise in global crude oil prices has affected the otherwise consistently falling price of furnace oil. According to experts, the constant falling price of furnace oil during October to December last year attributed to the reduction of cost of electricity production by Rs 3. The relief is being passed on to consumers gradually by the government.            
 The National Electric Power Regulatory Authority (NEPRA) issued a notification on Tuesday regarding provision of relief of Rs 3.24 per unit to power consumers.According to the notification, the regulatory authority decided the reduction after a review of the fuel price adjustment for December 2014.The relief would be provided to all consumers except for those belonging to K-Electric.            
 State-run Gulf energy company Qatargas is in the final stages of talks on a deal to supply Pakistan with 3 million tonnes of liquefied natural gas (LNG) annually for 15 years, industry sources in Doha told Reuters on Wednesday.The deal would help the country tackle serious energy shortages and power cuts which can last up to 20 hours a day. Nearly half the country�s electricity is generated by gas and its output of 4.1 billion cubic feet per day is well short of demand for as much as 6 billion, depending on the time of year.One source said the deal would be signed in weeks, while a second said the first shipment would be received by March.An official at the Ministry of Water and Power confirmed an LNG deal was planned but declined to give details. No-one at Qatargas, the world�s largest LNG producer, was available to comment.Pakistan State Oil (PSO) said payments to Qatar would be guaranteed by the government so any cash flow problems at PSO would not affect the Qatargas deal.                                   
 Asian markets rallied and the euro held up Wednesday on hopes of a settlement in Greece�s debt stand-off after it emerged that the country will ask for an extension to its bailout and avoid a painful eurozone exit.Another record close on Wall Street also provided support, although trade was thin with some markets closed and others winding down for the Lunar New Year holiday.Tokyo rose 0.84 percent, Hong Kong added 0.21 percent, Sydney put on 0.61 percent and Singapore was 0.41 percent higher.Shanghai, Seoul and Taipei were closed for public holidays.Greek public television said Tuesday that the new government will apply for further aid from its European partners, although will not sign up to the painful austerity measures imposed on the country.And in an interview with German public broadcaster ZDF Greek Finance Minister Yanis Varoufakis said: "We should extend the credit programme by a few months to have enough stability so that we can negotiate a new agreement between Greece and Europe."The news will come as a relief after two eurozone finance ministers� meetings in the past week both collapsed without agreement as Athens refused to continue with the bailout that imposed swingeing spending cuts and tax hikes.The apparent change of face also comes days before its financial lifeline package expires, which would leave the country without any cash and unable to pay its bills, leading it to default and almost certainly leave the eurozone.Investors bought up the euro on the reports and it held the gains in Asia. The single currency fetched $1.1404 and 136.02 yen Wednesday, slightly down from $1.1413 and 136.13 yen in New York afternoon but well above the $1.1357 and 134.70 yen quoted in Tokyo earlier Tuesday.The dollar fetched 119.29 yen from 119.29 yen in New York and 118.55 yen in Tokyo on Tuesday.US shares resumed their record-breaking run Tuesday after they were closed Monday for a public holiday.The S&P 500 climbed 0.16 percent to a second straight all-time high, while the Dow added 0.16 percent. The Nasdaq was up 0.11 percent.Oil prices, which have enjoyed a small recovery over the past week, eased. US benchmark West Texas Intermediate for March delivery fell 33 cents to $53.20 while Brent crude for April eased 20 cents to $62.33. Gold fetched $1,208.28 an ounce, against $1,220.88 on Tuesday. (AFP)                                   
 Pakistan�s Finance Minister Ishaq Dar said  the cost of ongoing Operation Zarb-e-Azb in North Waziristan may exceed $1.3 billion. Dar met with US Senate Armed Services Committee member, Jack Reed and Ambassador Richard Olson and informed them that the Pakistani government had already spent $400 million on the operation and IDPs. During the meeting the finance minister said the operation had the full support of political parties, armed forces and civil society in the country.  Dar added that Pakistani had suffered economically due to the exodus of people from the tribal areas owing to the operation. Senator Jack Reed said it was essential that the global community helped Pakistan in its fight against terrorism.             
 Oil prices fell on Wednesday before the release of a report on US crude inventories as traders kept an eye on unrest in crude exporter Libya.US benchmark West Texas Intermediate for delivery in March shed $1.39 to $52.14 a barrel compared with Tuesday�s close.European benchmark Brent oil for April delivery slid $2.00 to $60.53 a barrel in London.The US Department of Energy will release its weekly stockpiles report on Thursday with many analysts expecting another large rise in stocks.Last week�s report showed that US crude inventories reached their highest levels on record for this time of the year."The market had a very nice rebound from the $44-45 low it made a little while back," said Kyle Cooper, analyst at IAF Advisors in Houston."But the fundamentals are still on the downside, and expectations are for a crude oil build" on Thursday."I don�t think the production growth is going to slow in the next couple of months."Although leading producers like Chevron and ConocoPhillips have slashed capital budgets in light of the more than 50 percent plunge in global crude prices, the cuts are not expected to significantly affect short-term production levels.Traders were also keeping an eye on developments in north African crude oil producer Libya.Infighting and sabotage in Libya has reduced output to 150,000 barrels a day, down from a high of almost 1.5 million barrels per day, according to analysts. (AFP)                                   
 Apple Inc aims to begin producing electric vehicles as early as 2020, Bloomberg reported.The report cited people with knowledge of the matter as saying, a seemingly aggressive target for a mobile devices maker with little experience in car manufacture.The iPhone maker is pushing its "car team" of about 200 people to meet that goal.But Apple may decide to scrap its car-making effort, or delay it, if executives grew unhappy with its progress, the news agency said.            
 New York oil prices fell in late trade Friday, with the WTI contract breaking away from a stable trade in London to fall near the $50 dollar line.West Texas Intermediate for March delivery settled at the official close at $50.32 a barrel, down 82 cents from Thursday, as the contract expired. WTI then continued to fall further in late trade, dropping below $50.In London, Brent crude for April delivery was flat at $60.22 a barrel, one cent higher from a day earlier.US and Canadian output continued to rise despite the weak market, adding to the gap between the two key benchmarks."Still-rising US production and climbing inventories remain the more relevant fundamental story," said Timothy Evans of Citi Futures.Analysts at JPMorgan said reports of production and export drops in the Middle East and North Africa helped hold up London prices."An additional support also comes from higher crude demand in Europe from strong refinery margins and US refinery maintenance allowing refiners elsewhere to fill the product supply gap," they said."We continue to expect that crude markets will come under pressure in the short term, however, fundamentals point to stress on Brent-related crude outweighing that on WTI."More broadly, they said they foresee overall demand will decline as refineries adjust to different conditions, further pressing downward on prices."Assuming that Brent markets witness a reversal of the supply losses that have tightened them significantly in recent weeks, then we would expect weaker Brent cash differentials and structure to erode the support for Brent crude against other benchmarks, notably WTI." (AFP)                                   
 Minister for Petroleum Shahid Khaqan Abbasi on Monday said the government will begin importing Liquefied Natural Gas (LNG) from March 31.Talking to Geo News, the Petroleum Minister said initially 300 MMCFD (million cubic feet per day) of LNG will be imported. After six months the import volume will be increased to 400 MMCFD, he added.Shahid Khaqan Abbasi informed that Pakistan�s current consumer demand for LNG stands at 600 MMCFD.He said that in the initial phase, the Finance Ministry will foot the LNG import bill from subsidy allocated for the power sector.The Minister said the electricity generation from LNG will cost Pakistan less compared to the power production from diesel.He, however, said that the price for LNG has not yet been determined.            
 Oil prices slid Monday, extending last week�s sharp decline as the dollar strengthens on eurozone strains and record supplies in the United States add further downward pressure.US benchmark West Texas Intermediate (WTI) for delivery in April shed $1.17 to $49.64 a barrel compared with Friday�s close.Brent North Sea crude for April lost $1.24 to stand at $58.98 in London afternoon deals.WTI slumped 4.66 percent and Brent tumbled 2.1 percent during the week to last Friday."Crude oil prices extended declines (Monday)... as investors remained cautious following the ongoing uncertainty in the eurozone, while the strong US dollar currently weighed on market sentiment," said Myrto Sokou, senior research analyst at Sucden brokers."Crude oil inventories continue to remain fairly high, following sharp builds of crude oil stocks in the last few weeks. The continuous large increases of crude inventories verify a possible slowdown of US oil demand," she added.Globally, crude supplies are being boosted after oil fields in eastern Libya resumed pumping to the Hariga port after a pipeline was repaired, Bloomberg News reported.And Oman, the biggest Middle East producer outside the Organization of Petroleum Exporting Countries, plans to ramp up output to 980,000 barrels a day this year.Crude prices lost around 60 percent of their value between June and late January owing to an oversupply in world markets, a weak global economy and a strong dollar that made oil expensive to purchase for holders of rival currencies.The euro continued to be pressured by the dollar Monday despite eurozone ministers tentatively agreeing to extend Greece�s bailout by four months.While oil prices have won support in recent weeks on a decline in operating US oil rigs and as energy giants cut investment, markets-watchers say volatility is likely to continue for some time.Daniel Ang, an investment analyst with Phillip Futures in Singapore, said a sustained rebound for oil prices was unlikely because of a global oversupply of the commodity, noting that US crude production has remained strong at above 9.2 million barrels per day.He said a strike in US oil refineries has led to an excess of crude in the American market as less of the product is being sent to the facilities for refining.Workers at three major US oil refineries operated with Royal Dutch Shell went on strike on Saturday in a dispute over safer working conditions, the United Steelworkers (USW) union said.About 1,350 employees in three refineries and chemical plants are affected by the latest strike action, which mirrored walkouts on other sites launched earlier this month. (AFP)                                   
 The price of sugar decreased by 50 paisas in the wholesale market and is now being sold at Rs 49 per kilo. According to sources in the wholesale market, the price decrease took place due to an increase in the supply of sugar. The price decrease is also being experienced at the retail level where sugar is being sold at Rs 52 which is an Rs 1-2 decrease.             
 Oil prices rebounded slightly Tuesday after recent sharp losses caused by an oversupplied market.US benchmark West Texas Intermediate (WTI) for April delivery rose 39 cents to $49.84 a barrel.Brent North Sea crude for April climbed 51 cents to stand at $59.41 a barrel in London afternoon deals.WTI shed $1.36 in New York and Brent lost $1.32 on Monday, building on heavy losses last Friday, as US crude stockpiles linger at historic levels, contributing to a global oversupply.A closely watched report on US weekly crude stockpiles is next due on Wednesday, with a Bloomberg News survey saying inventories are expected to have risen by 3.75 million barrels.US oil stockpiles are already at their highest level on record at this time of year."The expectation of further rising US crude oil stocks is pressuring prices," said Commerzbank analysts in a note to clients.Globally, crude supplies are also being boosted after oilfields in eastern Libya resumed pumping to the port of Hariga after a pipeline was repaired, and oil producer Oman plans to ramp up output to 980,000 barrels a day this year."The partial return of supply from Libya is weighing on the Brent price despite its sustainability being anything but certain," said Commerzbank.Crude prices lost about 60 percent of their value to about $40 between June and late January owing to an oversupply in world markets, a weak global economy and a strong dollar.Prices have risen above multi-year lows following a slowdown in US oil drilling activities, but analysts say volatility is likely to continue for some time."It is apparent by now that drilling in the US will slow, global production growth is expected to be lower, and demand, at least in the US, is reacting positively to lower prices," British bank Barclays said in a report."In short, the market is forecast to remain oversupplied for most of 2015, but expectations beyond that are for more balanced fundamentals." (AFP)                                   
 Tokyo stocks opened flat on Tuesday after recent advances to 15-year highs as caution over a Greek debt deal grew.The Nikkei 225 index at the Tokyo Stock Exchange was up 1.47 points, or 0.01 percent, at 18,468.39 at the start.The euro remained under pressure as traders waited to see if Greece could complete the agreement reached last week with eurozone partners on its bailout programme.Athens has delayed sending a list of reforms to its international lenders aimed at obtaining a four-month extension of its bailout.The euro bought $1.1332 and 134.73 yen early Tuesday, compared with $1.1337 and 134.63 yen in New York Monday afternoon.The dollar was at 118.87 yen against 118.76 yen in US trade. Among individual stocks, Hitachi eased 0.20 percent to 833.0 yen in early trade after media reports that the Japanese firm reached a basic accord with Italian aerospace and defence giant Finmeccanica to buy its rail business for 250 billion yen ($2.1 billion).On Wall Street on Monday, the Dow Jones Industrial Average declined 0.13 percent following lacklustre housing data on the eve of congressional testimony by Federal Reserve chair Janet Yellen            
 All the petroleum products except diesel are likely to be increased from March 01, Geo News reported.Sources said Oil and Gas Regulatory Authority (OGRA) has prepared summary for hike in the POL product prices on the basis of 27 per cent General Sales Tax (GST) and moved it to Ministry for Petroleum.Sources said OGRA has proposed Rs5.59/litre hike for petrol, Rs7.32 Kerosene oil, Rs12.62 HOBC and Light Diesel Rs5.50 per litre.The authority has also suggested Rs5.49/litre decrease in the diesel prices.The Ministry for Petroleum will forward the summary to the Finance Ministry for a final go-ahead.                                   
 Oil prices rebounded Friday on bargain-hunting at the end of a volatile trading week, having slumped the previous day as surging US crude reserves added to the global supply glut.European benchmark Brent North Sea crude for April delivery rallied $1.14 to $61.19 a barrel in London midday deals.New York�s West Texas Intermediate (WTI) for April added $1.02 to $49.19 a barrel.Crude futures had dived Thursday as the market appeared to do a double-take on Wednesday�s US inventories report, which showed US crude stockpiles hit a fresh record last week."US crude oil (prices) posted a rebound... after plunging 5.5 percent the previous day as rising US inventories countered expectations for recovering demand," said ETX Capital analyst David Papier.WTI sank $2.82 in New York on Thursday while Brent shed $1.58 in London, in a delayed reaction by traders to a bigger-than-expected 9.4 million barrels increase in US crude stocks in the week to February 20.The US Department of Energy said Wednesday US crude reserves now stand at a record 434.1 million barrels.Surging American oil reserves normally weigh on prices because the United States is the world�s biggest consumer of crude."The Brent price appears immune to the negative news. US crude oil stocks surged significantly once again," noted Commerzbank analysts.Crude oil has however lost about 50 percent of its value since June, weighted down by the global supply glut.Later on Friday, traders will switch their focus to economic growth data in the United States, for clues on the health of oil demand."Investors will have plenty to look forward to today and with the second reading of US Q4 GDP data, as well as the Chicago PMI and University of Michigan sentiment index we could see further gains in crude oil on any positive surprise," said Sucden anlayst Kash Kamal.Earlier this week, prices won support from upbeat comments from Ali Al-Naimi, the oil minister of major oil producer Saudi Arabia.Oil demand is growing and the market has turned "calm", Al-Naimi said on Wednesday.Saudi Arabia is the biggest and most influential member of the Organization of the Petroleum Exporting Countries (OPEC), which in November decided to maintain output levels despite a global oversupply."Prices managed to get some support amid positive comments from OPEC�s kingpin Saudi Arabia�s Al-Naimi, who said prices were stabilising and that demand was growing," said analyst Andrey Kryuchenkov at Natural Resources Consulting."However, US crude stockpiles continue to push higher amid refining strikes, weather-related disruptions and still ample production." (AFP)                                   
 Ambassador of Tajikistan Sher Ali Jononov on Friday said that his country was preparing to export sizeable quantity of electricity to Pakistan to lessen the intensity of the energy crisis which has compromised economic growth. The KASA 1000 project is among the major electricity transfer projects in the region, based on which 1,300 megawatts of electricity from Kazakhstan and Tajikistan is expected to be transferred to Afghanistan and Pakistan.He said that Tajikistan wished to enhance bilateral trade with Pakistan and invited the business community to visit his country to explore investment opportunities and organise trade exhibitions. He added that the energy sector of Tajikistan had been showing sustainable growth for the last 15 years transforming the country into the world�s third largest producer of hydroelectric power after the US and Russia. Jononov went on to say that hydroelectric generation accounted for 76 percent of the total energy output of the country and the total cost of the project which would lighten Pakistan through Tajik electricity will be financed by the World Bank, ADB, Islamic Development Bank and other donors.He also said that this project would not only alleviate electricity shortages in Pakistan but would also replace fuel based electricity generation for Afghanistan and Pakistan, adding that it would also establish Afghanistan as a viable transit country and offer transmission capacity for other countries during the off peak season.He further said that it would also create a viable governance mechanism to build confidence among neighbours as major share of the export will be used by Pakistan and approximately 300 MW will be utilised by Afghanistan.            
 Global oil prices fell Monday, after bumper gains before the weekend, as many traders took profits and eyed plentiful world crude supplies, analysts said. European benchmark Brent North Sea crude for April delivery dropped $1.26 to $61.32 a barrel in London early afternoon deals.New York�s West Texas Intermediate (WTI) for April shed 90 cents to $48.86 a barrel.Crude futures had rebounded sharply Friday at the end of a volatile trading week. WTI had advanced $1.59 while Brent gained a hefty $2.53."Oil prices came under renewed pressure," said Sucden analyst Myrto Sokou on Monday."Crude oil inventories continue to remain at fairly high levels following ongoing builds of crude stocks last week."Oil has lost about 50 percent of its value since June, largely due to a global supply glut partially caused by surging US shale production."Although there is still a global supply glut, oil prices are on a general increasing trend especially with the falling rig count numbers indicating that US shale is responding to low prices," Ken Hasegawa, energy trading manager at Newedge Group in Tokyo, told AFP. The weekly Baker Hughes US drilling rig count showed the number of rigs in operation fell by 33 to 986 in the week to February 27. The count is down 39 percent since October, according to Bloomberg News. Analysts said dealers will next be scrutinising a slew of US economic data to be released later Monday for clues on demand prospects in the world�s biggest crude consumer.  (AFP)                                   
 Hong Kong stocks rose 0.70 percent in the first few minutes of trade Monday after China�s central bank at the weekend cut interest rates for the second time since November.The benchmark Hang Seng Index added 173.47 points to 24,996.76.            
 Billionaire philanthropist Bill Gates kept his spot as the world�s richest man, a rank he has held for 16 of the past 21 years, Forbes magazine said Monday.The Microsoft co-founder�s fortune increased $3.2 billion since last year to $79.2 billion, the business magazine said, despite a $1.5 billion gift of Microsoft shares to the Bill & Melinda Gates Foundation in November.Mexican telecom tycoon Carlos Slim held onto second place thanks to his $77.1 billion, ahead of American investor Warren Buffett, with $72.7 billion. The so-called Oracle of Omaha was the biggest gainer of the Forbes list this year, up $14.5 billion from last year riding on the rising share price of his Berkshire Hathaway.In fourth was Amancio Ortega, founder of the Inditex fashion group that includes Zara clothing retail shops. He counts a fortune of $64.5 billion.Facebook co-founder Mark Zuckerberg jumped five spots to land in number 16, the first time he made it within the exclusive circle of the world�s 20 richest people.Jack Ma, whose Alibaba online marketplace made the biggest global IPO ever last year, was ranked among the world�s 50 richest people, along with two other Chinese nationals.The number of billionaires is growing steadily, breaking an all-time record this year, with 1,826 � up from 1,645 last year.The rise of the dollar against the euro, along with plunging oil prices, had a significant impact on this year�s list.                                   
 Federal Minister for Water and Power Khawaja Asif on Wednesday said that despite the expiry of an agreement with the K-Electric, power is being supplied to it keeping in view the interest of people of the metropolis.Speaking to media representatives, he said that K-Electric has the capacity to generate sufficient power to meet the requirements of Karachi. However, it gets 650 MW of subsidised electricity from the national grid, he added. Asif said the issue will be reviewed in the new contract agreement with the K-Electric.The minister said the duration of loadshedding has been reduced across the country as compared to the previous year. Industries are being provided with uninterrupted electricity now, he added.To a question about the funding of Diamer Basha Dam, the power minister said the government will start construction on the project from its own resources. When asked about violations of Indus Water Treaty by India, Khawaja Asif said Pakistan is vigilant to the situation and will raise the matter at an appropriate forum in case of any violation.                                   
 Oil prices rose on Friday as dealers awaited US jobs data and focused on increasing tensions in the Middle East and Ukraine.US benchmark West Texas Intermediate for delivery in April added 14 cents to $50.90 a barrel.Brent North Sea crude for April gained 56 cents to stand at $61.04 a barrel around midday in London.Investors awaited the release Friday of US non-farm payrolls data that, if strong enough, could support a Federal Reserve interest rate increase in the world�s biggest consumer of crude.Analysts expect growth of 240,000 jobs in February and a fall in the unemployment rate to 5.6 percent from 5.7 percent."Crude oil prices climbed higher... ahead of the release of the US employment data which will set the tone for today�s trading session," said Myrto Sokou, senior research analyst at Sucden brokers.Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP that traders were "seeing a lot of upside potential, possibly based on tensions in the Middle East and Ukraine.""Somehow, we are seeing investors looking away from the huge build in US (crude oil) inventories this week," he added.Libya�s National Oil Corporation declared force majeure Wednesday at 11 oil fields after attacks by militants.The OPEC member country has been battling the rise of militias seeking control of its cities and oil wealth since the killing of dictator Moamer Kadhafi in 2011.Unabated fighting has seen its output reduced from a high of almost 1.5 million barrels a day to 150,000, according to analysts.In Ukraine, investors are closely watching latest efforts to prop up a ceasefire in the country�s eastern region, currently controlled by pro-Russia rebels.The 10-month conflict in the country -- a key conduit for Russian energy exports to Europe -- is seen as Europe�s worse since the war in the Balkans in the 1990s.Data on Wednesday meanwhile showed a 10.3 million barrels surge in US crude reserves in the week to February 27, which dampened expectations of robust demand in the world�s biggest economy. (AFP)                                   
 Bahria Town and K-Electric signed an agreement on Saturday, which will add 500MW of electricity supply for Karachi. According to the deal inked in UAE, KElectric will set up one coal based and one liquefied natural gas (LNG) based power plant in the metropolis and will supply uninterrupted power to Bahria Town Karachi.Speaking exclusively to Geo.tv from UAE, K-Electric�s spokesperson Usama Qureshi confirmed that two agreements have been signed, which include setting up of a 300MW coal powered plant and a 200MW LNG powered plant, while the second agreement pertains to supplying uninterrupted power to Bahria Town Karachi. Speaking on the occasion Ex-Chairman & Founder of Bahria Town Malik Riaz said, �For the people of Karachi, LNG and coal powered plants will be setup and Karachi Bahria Town will receive uninterrupted power supply.�            
 International Monetary Fund (IMF) Director for Middle East and Central Asia, Masood Ahmed said the economic survey of Pakistan is conducted keeping in mind the security situation in the country. Speaking at a seminar here, Ahmed said the IMF was aware that billions spent on security were putting pressure on Pakistan�s economy. He added the IMF has issued directives to Pakistan to decrease expenses and to focus on health and education in the budget. The IMF has also directed Pakistan to take necessary measures to increase tax revenue.             
 The Federal Bureau of Revenue (FBR) has begun chasing wealthy tax-dodgers who enjoy lives of extravagance and luxury, but revenue officials face huge challenges in trying to force the very richest � and most influential � to pay up.Pakistan's tax-to-GDP ratio of 9.5 percent is among the lowest in the world and the government is under pressure from foreign donors and lenders, including the International Monetary Fund (IMF), to increase collection to boost the struggling economy.Revenue authorities say they have identified about a quarter of a million new taxpayers who they project will add around 14 billion rupees ($140 million) to government coffers.Broadening the tax base and improving the economy after years of drift and sluggish growth under the last government was a key pledge in Prime Minister Nawaz Sharif�s 2013 election campaign, when he was swept to power for a third time.Currently less than one percent of Pakistanis pay income tax and the government collected just $8 billion in total income tax in the 2013-14 fiscal year � barely enough to cover just the country�s defence expenditure of $7 billion.The finance ministry is aiming to boost the tax-to-GDP ratio to 15 percent in the current fiscal year ending June 30.As part of those efforts, the FBR is compiling lifestyle and vehicle data to try to trace unregistered taxpayers, including wealthy landlords and businessmen zipping between their luxury homes in imported Mercedes."We are collecting information from the vehicle registration authority, car manufacturers, utility companies, telecom companies and property registration offices and tracing people who are not paying any tax," FBR spokesman Shahid Hussain told AFP.Taxpayer profilesThe data is used to generate profiles of potential taxpayers, after which demands are issued for them to pay income tax."FBR has already issued notices to 261,250 potential tax payers," Hussain told AFP, adding that that new taxpayers have paid 570 million rupees since the crackdown started.It is not just dodgy businessmen who have been caught � several lawmakers have been found paying either no tax or very little and not filing their mandatory annual tax statements.The FBR has taken punitive measures against some "chronic defaulters", freezing nearly 300 bank accounts, seizing more than 100 vehicles, putting 78 properties up for sale and issuing arrest warrants in 40 cases."Employing information technology, the FBR is creating a central database which would contain information about all taxpayers and nobody will be left undetected," Hussain said.A new FBR department tasked with broadening the tax net started working in July 2013 and within one year it started showing results, he added.But Pakistan is a country where wealth and political influence go hand in hand. For generations, landowners and industrialists have given patronage to political parties and scant attention has been paid to their assets by the taxman.Changing this privileged arrangement is a tricky proposition.Umar Cheema, an investigative journalist for Pakistani daily The News who has done several major exposes on tax-dodgers, says the FBR�s commitment is encouraging, but he does not expect them to net any big fish.�War on tax cheats�"FBR is after those who can�t influence them," Cheema told AFP, citing several well-known tycoons considered among Pakistan�s richest whose names were missing from a list of the country�s top 100 taxpayers."It can be done only by waging a war against tax cheaters without discrimination of good and bad cheaters," Cheema said.Pakistan�s central bank said in a recent report that tax revenue growth was not keeping up with budget targets.The tax take grew 11.7 percent in the first quarter of the current fiscal year, against an annual target of 26.9 percent � but this was only half the growth of the same period during the previous fiscal year, according to the State Bank of Pakistan (SBP).The central bank has urged the government to simplify tax procedures and do more to increase the documentation of the economy.A vast amount of business in Pakistan is done off the books, making transactions hard to trace and levy dues on."Although FBR has taken a number of measures to increase tax collection, these focused more on deductions at source, and/or increasing the tax rates," a recent SBP report said, warning such measures had enjoyed "limited success" in the past.The IMF, though, has said the government�s reform programme � tied to a $6.6 billion loan from the Washington-based lender � was on track, and expects growth to accelerate to 4.3 percent in the 2014-15 fiscal year from 4.1 percent previously.But even with growth quickening and officials insisting they are making inroads, challenges to the government�s efforts to gather taxes remain considerable.                                   
 The US dollar hit multi-year highs against the euro and yen on Tuesday on the growing chance of the Federal Reserve hiking interest rates by mid-year, the prospect of which also hurt stocks and currencies from emerging markets.The skittish mood spread from Asia to Europe where stocks were down for a second day despite the European Central Bank's new bond buying campaign continuing to push down the euro and the bloc's already record-low borrowing costs.Driving the dollar up was speculation that the Federal Reserve, in contrast, will start lifting interest rates from mid-year after another round of stellar jobs data on Friday and a subsequent chorus of hawkish Fed policymaker comments.The euro's woes were compounded by worries about Greece as euro zone finance ministers met in Brussels a day after the head of the group, Jeroen Dijsselbloem, urged Athens to "stop wasting time" and start implementing reforms.Selling in the euro had gathered pace again in Europe as a break below a major layer of chart support at $1.0762 to $1.0735 left bears eyeing 1.07 the figure and some mulling potential parity.The dollar also broke higher on the yen in Asia to reach 122.02, territory not visited since July 2007."It is all about the Fed now," said Aurelija Augulyte senior FX strategist at Nordea in Helsinki. "The ECB (bond buying) bias has now been fully digested, but what the market is now trying to do is price in earlier Fed rate hikes."The prospect of rising US yields threatened to draw funds away from emerging markets, causing strains from Brazil to Turkey. The Brazilian real led the rout, having fallen for the sixth straight session.The pressure spread then through Asia with the South Korean won hitting its lowest since late August 2013 and the Singapore dollar its lowest since 2010.Eastern Europe was also heavily in the red. Selling accelerated for Poland's zloty, Romania's leu and Hungary's forint and MSCI's main emerging market stock index fell 1 percent, down for its eighth day running.                                   
 Compressed Natural Gas (CNG) outlets in Sindh will remain suspended on second consecutive day Thursday.Sui Southern Gas Company (SSGC) officials said duration for closure of CNG stations across the province has been extended due to shortage of gas in the system.According to the schedule, the CNG outlets remained closed on Wednesday as well.                                   
 World oil prices rose Thursday on the back of the weaker dollar, but gains were capped after US crude reserves swelled again to a record high.In midday London deals, European benchmark Brent North Sea crude for April delivery advanced 82 cents to $58.36 a barrel.US benchmark West Texas Intermediate (WTI) for April added 52 cents to $48.69 a barrel."Despite the bearish oil inventories report yesterday, crude oil prices rebounded in early trade this morning supported by a slightly softer US dollar," said Sucden brokers analyst Myrto Sokou on Thursday."Brent futures recovered and climbed higher towards $59 per barrel while WTI futures rose above $48.50 per barrel."The weaker greenback makes dollar-denominated crude cheaper for buyers using stronger currencies, which tends to stimulate demand and prices.Crude futures had finished mixed Wednesday after a key report showed US crude stockpiles had struck another record high, adding to an oversupplied global market.The US Department of Energy said crude oil inventories surged by 4.5 million barrels in the week to March 6 to 448.9 million.That was the highest level since the beginning of the weekly data series in 1982.Crude prices lost some 60 percent of their value to decline to about $40 between June and late January owing to an oversupply in world markets, a weak global economy and the strong dollar.Prices have since rebounded somewhat following a slowdown in US oil-drilling activities, but analysts say volatility is likely to continue for some time.Elsewhere, investors were monitoring the progress of talks between the United States and other major Western powers and Iran on Tehran�s contested nuclear programme as a deadline at the end of March nears.The Islamic republic has been crippled by a series of UN and US sanctions, including on crude exports, aimed at bringing an end to its nuclear drive, which the West says is being used to develop atomic weapons. Iran denies the allegations."Prices are likely to remain in a tight range for the next two weeks until the market gets more clarity on the ongoing negotiations between Iran and the US over the lifting of sanctions," said Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY. (AFP)                                   
 �The authorities have made progress with consolidating macroeconomic stability, strengthening public finances and rebuilding foreign-exchange buffers.� The director also called on the Pakistani government to broaden the tax base which would increase revenue and reduce debt.              
 World oil prices sank Friday after the International Energy Agency warned over the price outlook amid bulging global supplies.In midday London deals, European benchmark Brent North Sea crude for April delivery fell 57 cents to $56.51 a barrel.US benchmark West Texas Intermediate (WTI) for April shed 72 cents to $46.33 a barrel."Crude oil prices extended losses ... as investors remained cautious following the bearish IEA oil monthly report, high levels of crude oil inventories and the strong US dollar rally," said Sucden analyst Myrto Sokou.The Paris-based IEA energy watchdog warned Friday that the recent rebound in oil prices was built on flimsy foundations.Prices collapsed by 60 percent to about $40 between June and late January due to global oil oversupply, a weak world economy and the strong dollar.However, the market has since rebounded somewhat following a slowdown in US oil-drilling activities."Behind the facade of stability, the rebalancing triggered by the price collapse has yet to run its course, and it might be overly optimistic to expect it to proceed smoothly," said the Paris-based IEA, which advises energy consuming nations.It noted that a key driver in the recovery in oil prices has been drops in the number of rigs drilling for shale oil in the United States."Yet US supply so far shows precious little sign of slowing down. Quite to the contrary, it continues to defy expectations," said the IEA in its monthly report, which sharply revised up output estimates for the end of last year and forecasts for the start of 2015.The IEA hiked its demand forecasts for every quarter this year, with the annual 2015 figure bumped up by 100,000 barrels per day to 93.5 mbpd, compared with its previous forecast given last month.In earlier Asian trading, the oil market had risen on news of a deal to end a strike at US refineries.Crude futures had fallen Thursday after a government report showed surging US stockpiles, adding to a global oversupply.The US Department of Energy on Wednesday said inventories hit a fresh record high of 448.9 million barrels last week, while stockpiles at the Cushing terminal hub in Oklahoma -- the price settlement point for WTI -- also increased.Bloomberg News meanwhile reported the United Steelworkers union representing 30,000 US oil workers had reached a tentative deal on a four-year contract with Royal Dutch Shell that could see a mass walkout brought to a close.Another development affecting the market was an announcement on Monday by the US Energy Information Administration raising its crude production forecast this year to 9.35 million barrels per day from 9.30 million. (AFP)                                   
 The Economic Coordination Committee (ECC) has approved allocation of 75 per cent gas from Turkmenistan-Afghanistan-Pakistan-India (TAPI) to Sui Northern Gas Pipelines and 25pc to Southern Gas Company.The approval was given during ECC�s meeting held in Islamabad on Saturday with Finance Minister Ishaq Dar in the chair.The committee also approved grant of Rs84 million for payment of four month�s salaries to the employees of Printing Corporation of Pakistan.The ECC also approved the proposal for allowing Attock Cement Pakistan to remit $24 million for establishment of Cement Grinding Unit in Basra Iraq.The ACPL intends to hire 50 percent of its labor force from outside Iraq and the venture will create employment opportunities for the Pakistanis.The committee also approved import of RLNG LNG by fertilizer plants using SNGPL Network with prior permission of the Ministry. (PPI)                                   
 New York oil prices sank to a six-year low on Monday, falling below $44 per barrel as the market was plagued by plentiful supplies and the strong dollar.In earlier deals, US benchmark West Texas Intermediate (WTI) for April delivery dived as low as $43.57 -- hitting the lowest since March 12, 2009.The contract later recovered slightly to stand at $44.40, down 44 cents from Friday�s closing level. European benchmark Brent North Sea crude for April fell 79 cents to $53.38 a barrel in midday London trade.Crude futures had plunged by more than two dollars on Friday after the International Energy Agency (IEA) warned of US crude reserves reaching storage capacity with little sign of a slowdown in output despite a global glut. "Selling pressure was generated on Friday by the IEA, which warned that storage capacities could soon be exhausted in the United States," said Commerzbank analysts."The reason cited by the IEA was the massive oversupply, which stems first and foremost from the still rising US oil production."The US Department of Energy last week said stockpiles in the world�s top crude consumer climbed to a fresh record high of 448.9 million barrels last week. "This week could be even more bearish for oil as there has been no shift in supply," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP. Singapore-based Phillip Futures said "with fundamentals remaining unchanged, we hardly find a reason for crude oil to break higher or even lower". Crude prices lost some 60 percent of their value to decline to about $40 per barrel between June and late January owing to an oversupply in world markets, a weak global economy and the soaring dollar.Prices have since rebounded following a slowdown in US oil-drilling activities, but analysts say volatility is likely to continue for some time."Behind the facade of stability, the rebalancing triggered by the price collapse has yet to run its course, and it might be overly optimistic to expect it to proceed smoothly," the Paris-based IEA, which advises energy consuming nations, said last week. McCarthy said oil prices are also under pressure owing to gains in the dollar against other major currencies ahead of a closely watched US Federal Reserve policy meeting on Wednesday. A stronger US dollar makes dollar-priced oil more expensive for buyers using weaker currencies, denting demand. (AFP)                                   
 The announcement of Monetary Policy for the next two months is likely to be made on March 21 by the State Bank of Pakistan (SBP).The experts are expecting a further cut in the policy rate in view of improvement in the country�s foreign exchange reserves, stability in rupee value and the decline of inflation rate to 3 percent.They are expecting that the central bank might ratchet down the discount rate by 0.5 to 1 percent.The economic analysts are of the view that a further cut in the policy rate of the SBP will not only provide additional impetus to the business and economic activities but also help boost employment in the country.             
 New York oil prices approached six-year lows Tuesday on worries over growing US stockpiles and after OPEC warned of a stubborn global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for April delivery slid to $42.63 a barrel -- touching the lowest level since March 11, 2009. It later stood at $42.70, down $1.18 from Monday�s close.Nearing midday in London, European benchmark Brent North Sea crude for May delivery fell $1.14 to $52.80 a barrel.Crude futures also dropped Monday on worries over growing US oil inventories, which already stand at record-high levels adding to the global oversupply.In addition, the market fell sharply after OPEC questioned the strength of last month�s rally, saying in a report that the price increase came "despite the fact that global supply continued to exceed demand".Traders are now eagerly awaiting Wednesday�s weekly US government report on crude reserves for the week to March 13."Growing concerns that US crude stockpiles would see additional builds this week pushed prices lower," said Sucden analyst Kash Kamal.A Bloomberg News survey showed US crude stockpiles are expected to have increased by 3.3 million barrels to 452.2 million last week.US crude stockpiles have risen for nine weeks in a row to reach a record 448.9 million barrels on March 6.Singapore�s United Overseas Bank said the recent price decline was due to "concerns that US crude supplies are at record levels and continue to build up".World oil prices have collapsed by more than half since June last year on mounting US supplies, weak global economic growth and OPEC�s decision to keep output high despite falling prices.Leading US energy producers have curtailed some investment, resulting in lower weekly rig counts.Despite the reduced drilling, Goldman Sachs estimated Monday that US output would still grow by 230,000 barrels a day in the fourth quarter of 2015 compared with a year ago. (AFP)                                   
 Federal Minister for Railways, Khawaja Saad Rafique Tuesday announced good news of pay-raise for the employees of Pakistan Railways.In a media statement, the Minister disclosed that a summary for increase in salaries for the employees of Pakistan Railways has been forwarded to the Prime Minister.He also said that the government had also chalked out a plan to build houses for the Railways workers.Khawaja Saad Rafique said it was expected that the salaries of Railway Police may witness a jump of 20 percent.He also announced the government�s plan to launch a new train service between Karachi and Islamabad.            
 Bearish spell at Karachi Stock Exchange (KSE) grew in strength on Wednesday, as the benchmark KSE 100-share Index witnessed a sharp decline of 817.28 points or 2.5 percent to close at 31,524.During the intra-day trading, the main Index at one point took a nosedive and lost over 1,000 points. But, some support was seen at the bottom which helped the Index regain about 200 points. However, the market remained deeply mired the red zone and the Index lost over 800 points at market close.The local bourse remained bearish for the third consecutive day in the backdrop of deteriorating law and order situation.According to capital market analysts, the selling of shares from foreign investors and mutual fund institutions has kept Pakistan biggest stock market under pressure.            
 Oil prices extended their losses in Asia Wednesday to new six-year lows on expectations US crude stockpiles will rise further, in a market already awash with supplies, analysts said.US benchmark West Texas Intermediate for April delivery eased 83 cents to $42.63 in afternoon trade, the lowest level since March 2009.Brent crude for May fell 14 cents to $53.37 a barrel."We expect the US stockpiles to increase further and this will exacerbate the market�s supply concerns," said David Lennox, a resource analyst with Fat Prophets in Sydney.A Bloomberg News survey showed US crude stockpiles are expected to have increased by 3.3 million barrels to another record 452.2 million in the week ending March 13.The US Energy Information Administration will release the final figure later Wednesday.US stockpiles have risen for nine weeks in a row, each time touching a record, helping push prices lower in a market already weighed down by a supply glut after the OPEC oil cartel decided in November to maintain elevated output levels.World oil prices have collapsed by about 60 percent since June as supply outpaces demand.Lennox said the gloomy market outlook will only shift if the Organization of the Petroleum Exporting Countries (OPEC) -- which is dominated by Saudi Arabia and other Gulf countries -- decides to slash production."At the moment we are keeping our eyes on OPEC," he said, adding: "They have a meeting in June and we are hopeful they will decide to cut production." (AFP)                                   
 The dollar struggled to recover Thursday after diving on comments from the US Federal Reserve that cooled expectations of an early summer interest rate hike.In Tokyo, the greenback briefly fell below 120 yen before ticking up to 120.22 yen by midday, well down from 121.35 yen level in Tokyo before the US central bank�s announcement. The euro changed hands at $1.0809 and 129.92 yen, down from $1.0871 and 130.54 yen in New York but still well above $1.0595 and 128.57 yen in Asia on Wednesday.While the US central bank opened the door for a rise from six years of zero percent rates, it lowered its forecasts for economic growth and inflation and stressed it would remain cautious before making any move."It�s fair to say we now have somewhat stronger doubt that Fed rates �lift-off� will begin a early as June, than we did heading into the FOMC (Federal Open Market Committee)" meeting, National Australia Bank said."The key takeaway is that (Fed chief Janet) Yellen has successfully established in the market�s mind the data, rather than date, dependency of Fed policy."After a two-day meeting, the Fed on Wednesday issued a statement that removed a pledge to remain "patient" on raising interest rates, signalling a possible mid-year rate increase.However Yellen stressed growth prospects were more muted than three months ago, despite strong increases in jobs creation. She noted consumer spending has slipped, inflation has declined, wages are flat, and the stronger dollar has hurt US exports.The policy committee lowered its rate outlook to 0.5-0.75 percent for the end of this year from 1.0 percent previously, while also reducing its 2016 forecast to 1.75-2.5 percent from 2.5 percent. "Just because we removed the word patient from the statement doesn�t mean we�re going to be impatient," Yellen told reporters.Markets have been focusing on the Fed�s timing for a rate hike -- a plus for the dollar -- with Yellen�s comments giving much-needed relief for the euro, which has been hammered by the European Central Bank�s new stimulus programme.While some analysts pegged the dollar to fall further, loose monetary policy in major economies was likely to stem its losses, said Sebastien Galy, a senior currency strategist at Societe Generale."The dollar will resume its uptrend vs G10 in the next few weeks driven by the pressure of negative interest rates elsewhere," he wrote in an e-mail, according to Bloomberg News. (AFP)                                   
 The State Bank of Pakistan on Saturday announced the new monetary policy for the next two months keeping interest rate at an all time low since 13 years.The central bank reduced interest rate by 0.5 percent and brought it down to eight percent.Experts were expecting a reduction of one percent.Despite a significant cut in interest rates during the current fiscal year, there has been no increase in loan acquisition by the private sector.On the other hand, government borrowing from the commercial banks has amounted to over one trillion rupees in eight months.             
 Oil prices dropped on Tuesday after activity in China's factory sector fell to an 11-month low and as Saudi Arabia said its production was close to an all-time high.The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level that separates growth in activity from a contraction on a monthly basis, stoking worries over the strength of the world's No.2 economy. Economists polled by Reuters had forecast a reading of 50.6."Considering that the preliminary PMI figures for major crude importers turned out much lower than estimates ... we expect both WTI and Brent to end-off today lower," Singapore-based Phillip Futures said on Tuesday.The PMI drop in China followed an overnight report that Saudi Arabia, OPEC's biggest producer, was now pumping around 10 million barrels of crude oil per day, a near all-time high and some 350,000 bpd above the figure Saudi Arabia gave to OPEC for its February output."The market was under pressure early in the trading day after comments from Saudi Arabia that it was producing almost 10 million barrels per day," ANZ bank said on Tuesday.Brent crude oil futures were trading down 47 cents at $55.45 a barrel at 0750 GMT. U.S. WTI crude dropped 65 cents to $46.80 a barrel.Worries over slowing growth in China's economy as well as high production have contributed to a global surplus in oil supplies."We expect crude prices to be pressured once again by the weight of some 2 million barrels per day of oversupply in Q2 2015," energy consultancy FGE said in a note on Tuesday.The refinery sector has benefited from cheap oil, which has improved margins for oil products such as diesel or jet fuel."A sharp decline in crude prices over late 2014 and into January 2015, followed by an extraordinarily cold February (in the United States and parts of Europe), has meant good times for refiners," FGE said, but it added that high refinery margins were unlikely to last."In H2 2015, we see an oversupplied products market even as crude prices begin to recover. Refinery margins will adjust downwards."                                   
 Moody�s upgraded Pakistan�s dollar bonds rating one notch from stable to positive on Wednesday on the back of the country�s improving macroeconomic indicators.The financial ratings firm said its decision came in view of Pakistan�s strengthening foreign exchange reserves.Pakistan has been trying to boost its flagging economy since Prime Minister Nawaz Sharif was elected nearly two years ago."Moody�s Investors Service has revised the outlook on Pakistan�s foreign currency government bond rating to positive from stable," the company said in a statement.Pakistan issued $1 billion in five-year Sukuk Bonds, the Islamic version of eurobonds, in November last year to boost foreign exchange reserves.In April 2014, the country issued $2 billion worth of eurobonds, in five and 10 year terms,Pakistan�s net foreign currency reserves with the central State Bank reached to $11.2 billion up to March 13, from just $3.2 billion in January 2014.The International Monetary Fund (IMF) has voiced satisfaction with Pakistan�s progress on reforms required under a $6.6-billion bailout agreed in 2013.The loan came on condition that Pakistan -- which was suffering an energy crisis -- would carry out extensive economic reforms, particularly in the energy and taxation sectors.Moody�s said continued success under the IMF programme would act as "upward triggers to the rating".The central State Bank of Pakistan on the weekend slashed its benchmark interest rates by half a percentage point to eight percent.The bank noted that the economy was now on a more stable footing and was benefiting from the drop in world oil prices.            
 Oil prices were mixed in Asia Wednesday ahead of the release of US stockpiles data, a closely watched barometer of demand in the world�s biggest consumer of the commodity, analysts said.US benchmark West Texas Intermediate fell 12 cents to $47.39 and Brent was up five cents at $55.16 in afternoon trade.Crude supplies in the United States are expected to have risen in the week ending March 20, according to a survey by Bloomberg News.Inventories have risen for the past 10 weeks in a row, putting further downward pressure on prices in the face of a global supply glut, with the OPEC oil cartel also maintaining elevated output levels.The US Energy Information Administration will announce the data later Wednesday."Inventories remain crucial in judging the oversupply issue," Daniel Ang, an investment analyst with Phillip Futures in Singapore, said in a market commentary.Data showing an unexpectedly sharp manufacturing slowdown in China is also weighing on sentiment.China�s manufacturing activity contracted in March at its fastest rate in 11 months, British banking giant HSBC said, suggesting worsening conditions in the world�s number two economy.HSBC�s preliminary purchasing managers index dipped to 49.2 in March from 50.7 in February. A number below 50 indicates contraction, and anything above 50 points to growth. (AFP)                                   
 A shipment of 147,000 cubic feet of Liquefied Natural Gas (LNG) from Qatar arrived at the Karachi anchorage on Thursday in a Floating Storage Regasification Unit (FSRU).The FSRU, after going through clearance, is expected to dock at Engro Corporation�s Elengy Terminal Pakistan Limited (ETPL), where the cargo will undergo �regasification� before being injected into the Sui Southern Gas Company Ltd (SSGCL) network.The SSGCL is then required to transfer it to the Sui Northern Gas Pipelines Ltd (SNGPL) at the Zamzama-Sawan gas establishment.The LNG will initially be provided to four Independent Power Producers (IPPs) in Punjab, including Kot Addu Power Company (Kapco). In the second phase of the operation, fuel will be used for Compressed Natural Gas (CNG) and in the third, it will be supplied to the fertiliser sector.            
 Asian markets mostly wound back Thursday, in line with a hefty sell-off on Wall Street, after surprisingly weak US data hinted at ongoing weakness in the world�s number one economy.The euro broke above $1.10, boosted by receding expectations of an early US rate hike and upbeat indicators out of the eurozone.Oil prices also enjoyed support from concerns about unrest in the crude-rich Middle East following news that Saudi jets had struck rebel positions in neighbouring Yemen.Tokyo tumbled 1.39 percent, or 275.08 points, to 19,471.12 after earlier this week touching a 15-year high, while Sydney sank 1.58 percent, or 94.22 points, to close at 5,879.1 and Seoul fell 0.99 percent, or 20.25 points, to 2,022.56.Hong Kong lost 0.13 percent, dropping 31.15 points to 24,497.08 but Shanghai gained 0.58 percent, or 21.37 points, to 3,682.10, having fallen Wednesday for the first time in 11 sessions.US investors ran for the sidelines Wednesday after the Commerce Department said durable goods orders fell in February after January�s gain.While the news will likely put back the Federal Reserve�s timeline on when to raise interest rates, it was taken Wednesday by investors as a sign of weakness, fuelling fears about the global outlook.The Nasdaq fell 2.37 percent, the Dow tumbled 1.62 percent and the S&P 500 gave up 1.46 percent."Wall Street is struggling to add to its recent record high and it looks like the upward momentum is starting to show signs of fatigue," Matthew Sherwood, head of investment markets research in Sydney at Perpetual Ltd., told Bloomberg News."Asia has an advantage over the US as Asia has cheaper valuations. What�s weighing on Asia is the performance of the Chinese economy, which is facing some growth roadblocks."- Dollar struggles -Banking giant HSBC this week revealed its preliminary gauge of Chinese manufacturing activity had hit an 11-month low and indicated it was in contraction. That comes after a string of releases showing the Asian economic giant struggling.The dollar -- suffering recent losses after the Fed dampened talk of an early summer rate rise -- came under further pressure after the latest figures.In Tokyo it bought 118.66 yen, compared with 119.43 yen in New York and well off the 119.62 yen in Tokyo earlier Wednesday.The euro bought $1.1011 and 130.65 yen against $1.0973 and 131.05 yen. The single currency has bounced against the dollar since slumping below $1.05 last week, before the Fed announcement.The euro was boosted by a closely watched Ifo economic institute index on business confidence in Europe�s biggest economy Germany, which rose to 107.9 in March, the highest level since July 2014.Another report showed eurozone business activity near a four-year high in March.Oil extended gains in Asia as investors eye events in Yemen, where Saudi Arabia carried out strikes against Huthi rebels as part of a regional coalition in a bid to save the government of President Abedrabbo Mansour Hadi and prevent civil war.US benchmark West Texas Intermediate surged $2.63 to $51.84 while Brent rose $2.83 to $59.31 in afternoon trade.WTI advanced $1.70 and Brent gained $1.37 Wednesday on news Hadi was rushed to a "secure location" after his presidential complex was attacked.Gold fetched $1,205.54 against $1,195.51 late Wednesday.In other markets:-- Taipei fell 0.50 percent, or 48.71 points, to 9,619.12.Taiwan Semiconductor Manufacturing Co. shed 3.64 percent to Tw$145.5 while smartphone maker HTC was 0.35 percent lower at Tw$140.5.-- Wellington slipped 0.42 percent, or 24.61 points, to 5,833.17.Air New Zealand was off 1.82 percent at NZ$2.70 and telecom giant Spark slipped 0.17 percent to NZ$2.97.-- Manila closed 0.44 percent higher, adding 34.76 points to 7,871.10.Metropolitan Bank added 0.62 percent to 97.60 pesos, SM Investments put on 0.06 percent to 888.50 pesos and SM Prime Holdings fell 1.49 percent to 19.90 pesos. (AFP)                                   
 Oil prices fell Friday after spiking the previous day as Saudi Arabian jets struck rebel targets in Yemen, sparking supply fears in the crude-rich Middle East.Brent North Sea crude for delivery in May sank 63 cents to $58.56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May slid 81 cents to $50.62 a barrel."Oil prices ... are shedding some of the strong gains they had achieved over the two previous days," said Commerzbank analyst Carsten Fritsch."It would appear that the initial panicky response to Saudi Arabia�s military intervention in Yemen is giving way to a more sober assessment of the situation."Prices rose sharply on Wednesday and Thursday after a Saudi Arabia-led coalition bombed Huthi rebels in support of Yemen�s embattled President Abedrabbo Mansour Hadi.WTI struck a one-month high of $52.48 and Brent jumped to a March 9 peak of $59.78 on Thursday.However, the market has since pulled lower owing to no disruption to oil supplies.Yemen is bordered by key Middle East oil producers Saudi Arabia and Oman."Oil prices have cooled ... as the initial panic over the consequences of Saudi Arabia�s military action in Yemen and the harm it might cause its oil distribution have failed to materialise," added analyst Alistair McCaig at traders IG.Yemen has been gripped by turmoil since the rebels launched a power takeover in Sanaa in February.Warplanes from the Saudi-led coalition kept up raids against Huthi rebels on Friday as Hadi headed to an Arab summit to garner support as Iran warned the intervention was "dangerous"."The recent developments in Yemen have caused oil prices to jump on fears of disruption to supplies," said research house Capital Economics in a commentary.There are concerns that an escalation of the conflict could disrupt oil shipments passing through the Bab el-Mandeb Strait, located between Yemen and Djibouti and through which about 3.8 million barrels of oil per day are transported, it added.Other analysts said the impact of the Yemen crisis on the market was tempered by the crude oversupply, which has been fanned by record US stockpiles and the OPEC cartel�s refusal to slash production."Despite all this increase, we continue to see weak oil fundamentals and thus, find it extremely hard for current prices to persist," said Daniel Ang, an investment analyst with Phillip Futures in Singapore. (AFP)                                   
 Pakistani stocks continued their free-fall at the start of the week, with the benchmark Karachi Stock Exchange 100-index falling over 1,000 points or 3.5 per cent during trading on Monday.The benchmark index was at a six-month low of 28,927.04 points at the close of trading, down 1,030.79 points or 3.34 per cent. The index has shed over 4,600 points during the last two months, with experts estimating that investors have lost now lost over USD10 billion or Rs 1 trillion.Mohammad Sohail, CEO of Topline Securities, said the bearish trend was �largely due to different rumours circulating in the market�. The market has been abuzz with speculation about leveraged investors selling stocks to meet margin calls.Panic-selling was seen across all sectors the previous week too as stocks fell like nine-pins, going under the 30,000-level after 22 weeks.                                   
 Oil prices fell on Monday as traders focused on whether Iran and six world powers would reach a deal that could add fuel to an already oversupplied market if sanctions against Tehran are lifted.The two sides are trying to reach an agreement in nuclear negotiations by a Tuesday deadline."Any relaxation of Iran oil sanctions could see increased exports adding to swelling global supplies and further pressuring prices," ANZ said.Brent crude futures were down 42 cents at $55.99 by 0633 GMT as the market began to price in a potential deal with Iran. U.S. West Texas Intermediate (WTI) was down 84 cents at $48.03 a barrel.Barclays said that the U.S. build-up in stocks would make its way into an already oversupplied market in the second quarter and that global demand would unlikely be strong enough to support oil prices once that happens."In OECD Asia, demand growth actually fell from -3 percent to -4 percent (in Q1) ... Apparent demand in China was around 2 percent higher, but actual demand is likely to be lower since seasonal stockbuilding typically takes place after the start of the year," the bank said. It added that demand growth in the OECD region had been in structural decline over the past five years."Continued dollar strength is (also) a headwind to the oil price recovery," Barclays said, forecasting the dollar rising slightly above parity with the euro by Q4.A potential climb in prices could come from an OPEC production cut, which some members have lobbied for but its biggest exporter Saudi Arabia has resisted."Saudi Arabia had to cut its price in Asia to ensure its crude oil remained attractive," energy consultancy Wood Mackenzie said."Other suppliers looking to position themselves in Asia will have to pay close attention to the Saudi's pricing strategy," it added.Morgan Stanley said that crude demand would also be dented via the refinery sector, where production tends to fall towards the middle of the year.In the United States, the oil rig count continued to drop, although analysts said that lower drilling activity would only affect oil production later this year."The current rig count is pointing to U.S. production declining slightly sequentially in 2Q15 and 3Q15," Goldman Sachs said although it added activity could bounce back in 2016 as drillers benefitted from falling production costs.                                   
 The new price of petrol effective from midnight Tuesday, October 31, will be Rs 74.29 per litre.The price of petrol has been increased by Rs 4 per litre for the month of April.Similarly, the price of diesel has been increased by Rs 3 per litre.All other POL prices will however remain same.The Oil and Gas Regulatory Authority (OGRA) on Monday forward a proposal to ratchet up the prices of petroleum products effective from April 1.OGRA had suggested increasing the rate of petrol by Rs4.40 per litre, high speed diesel by Rs6.25, High Octane Blending Component (HOBC) Rs7.66, light diesel Rs2.56 and kerosene oil by Rs1.56 a litre.In response to the similar proposal from OGRA last month, the government had decided not to increase the POL prices and kept them unchanged for the month of March.            
 Pakistan�s main stock index witnessed a bullish trend as it rebounded over 1,100 points during day trading on Tuesday, a day after the market plunged around 3.5 percent on fears of a selling spree by foreign investors.The benchmark Karachi Stock Exchange (KSE) 100-index was hovering around 30,028.85 points at 1 pm, up 1,101.81 points or 3.81 percent from its previous close of 28,971.The previous day, the index tumbled 1,252 points to 28,706, a drop of 4.18 percent � one of the largest falls in a single day in recent years � before it recovered somewhat to end on 28,971, down 3.44 percent.The KSE has enjoyed startling growth in recent years even though Pakistan has been racked by militancy and political upheaval for more than a decade.But from the start of January to March 29, the market saw an outflow of foreign investment of $131 million compared with a $384 million inflow last year.There was speculation in the market that local buyers had overrun their capacity to absorb more offloaded shares from foreign investors, while rumours were also circulating that some stockbrokers were also on the verge of default. But investor confidence appeared to have returned as the bourse recovered today.  The government of Prime Minister Nawaz Sharif has been trying to boost Pakistan�s flagging economy since being elected in May 2013.Last week, Moody�s upgraded Pakistan�s dollar bond rating one notch from stable to positive on the back of improving macroeconomic indicators. The financial ratings firm said its decision came in view of strengthening foreign exchange reserves.                                   
 The new price of petrol effective from midnight Tuesday, October 31, will be Rs 74.29 per litre.The price of petrol has been increased by Rs 4 per litre for the month of April.Similarly, the price of diesel has been increased by Rs 3 per litre.All other POL prices will however remain same.The Oil and Gas Regulatory Authority (OGRA) on Monday forward a proposal to ratchet up the prices of petroleum products effective from April 1.OGRA had suggested increasing the rate of petrol by Rs4.40 per litre, high speed diesel by Rs6.25, High Octane Blending Component (HOBC) Rs7.66, light diesel Rs2.56 and kerosene oil by Rs1.56 a litre.In response to the similar proposal from OGRA last month, the government had decided not to increase the POL prices and kept them unchanged for the month of March.            
 Chinese companies have expressed interest to invest in Pakistan�s oil and gas sector, the Petroleum Ministry revealed on Wednesday. A notification issued by the ministry stated that a workshop has been held in this regard. Pakistan was represented by the Petroleum Secretary while China was represented by the Director General National Energy Administration. During the briefing, it was revealed that Pakistan has an estimated 160 trillion cubic feet of gas reserves and this estimate includes 105 trillion cubic feet of Shale gas reserves. Chinese companies are interested to invest in Pakistan oil and gas sector to explore for further reserves.             
 Pakistan's central bank has received $500 million from the International Monetary Fund (IMF) as the sixth loan tranche of an ongoing aid arrangement to support economic reforms and growth, sources told Geo News on Wednesday.Sources said that the State Bank of Pakistan (SBP) has already received the funds and that the country's foreign reserves have now swelled up to $16.5bn as a result.Investor outlook at capital markets in the country appeared optimistic on reports of release of the IMF installment, with the benchmark Karachi Stock exchange 100 index witnessing an upward trend and gains of 550 at the start of trading today.                                   
 Oil prices fell in thin pre-holiday trade in Asia Thursday after a mixed US stockpiles report, while talks over crude producer Iran�s nuclear programme dragged on, analysts said.US benchmark West Texas Intermediate fell 40 cents to $49.69 while Brent slipped 32 cents to $56.78 in afternoon trade."Prices have come off with thin volumes ahead of the holiday tomorrow," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.Financial markets in major crude trading hubs including Singapore, the United States and Britain will be closed on Friday for the long Easter weekend.McCarthy said dealers were still digesting the latest US Department of Energy�s weekly petroleum report released Wednesday.The report, for the week to March 27, showed another increase in inventories to a new record high of 471.4 million barrels.But it also revealed a slight decline in US production of 36,000 barrels per day, ending a long climb to record output levels that have contributed to the global supply glut."The decline in crude production does give some hope that the state of oversupply can be brought under control, and bring about a lift in prices," McCarthy said.Talks between Iran and world powers aimed at preventing Tehran from getting a nuclear bomb remained in focus, he added."We are a few metres... from the finishing line, but we are well aware that the final metres are the hardest," French Foreign Minister Laurent Fabius told reporters as he arrived late Wednesday back in Switzerland to rejoin the negotiations.The United States, China, Britain, Russia, France and Germany hope a full agreement, due to be finalised by June 30, will see Iran scale back its nuclear capability, which would prevent Tehran from developing a nuclear weapon.In return, the diplomatically isolated Islamic republic, which denies wanting to build a bomb, is demanding the lifting of sanctions that have strangled its energy-reliant economy. (AFP)                                   
 All preparations have been completed to launch Haier Mobile phones in Pakistan in the coming week, Geo News reported on Friday.Haier will also be providing free insurance to cover phone theft, water damage, and broken sets, and will compensate the consumers in such cases on 15 of their mobile models.It is also the first time that plans to manufacture the mobile in Pakistan are also being formulated.  20 shoppers will also get a chance through lucky draw to travel free to the UK and spend a day with the Manchester United football team.President RUBA SEZ Group, Shah Faisal Afridi talking to Geo News said that a plan has been formulated to setup a manufacturing factory this year in Lahore with a capacity to produce 5 lac phones. He added that 800 people would be provided jobs due to this and hence government attention is required for it.According to experts, after the introduction of mobile manufacturing in Pakistan, the country can be part of those that manufacture hi-tech products in the world.            
 Crude-oil prices fell Thursday after six world powers and Iran announced they had agreed on a framework to curb Iran�s nuclear drive.With the tentative deal, if confirmed, likely to allow Iran crude exports back on the markets, Brent North Sea crude for delivery in May, the global benchmark contract, slumped $2.15, settling at $54.95 a barrel in London trade.The US benchmark, West Texas Intermediate (WTI) for May delivery, shed 95 cents to close at $49.14 a barrel on the New York Mercantile Exchange.Traders have been following the marathon negotiations closely. Shortly before the New York market closed, the world powers and Iran said that Tehran has agreed to curtail its nuclear program in return for the lifting of US and European Union nuclear-related sanctions that have harmed its economy.Lifting sanctions could open up the flow of Iranian crude to an oversupplied global market. The glut has pushed crude prices more than 50 percent lower since last June.The outline of the deal marked a major breakthrough in a 12-year standoff between Iran and the West, which has long feared Tehran wants to build a nuclear bomb. Iran has insisted the nuclear program is for peaceful purposes.At the beginning of the press conference in Lausanne, Switzerland, the price of WTI, which had been trading lower since the market opened, fell to $48.11 a barrel before paring its losses.The countries announced the drafting of a full agreement would begin immediately, with a June 30 deadline for completion.The sanctions would be lifted after the UN atomic agency verifies Iran has fulfilled the terms of the deal.The so-called P5+1 group � the United States, Britain, China, France and Russia plus Germany � hope that the deal will make it virtually impossible for Iran to make nuclear weapons under the guise of its civilian program.Commerzbank analysts, citing shipping sources, said earlier this week that Iran has at least 30 million barrels of crude oil in storage onboard tankers that could quickly move onto the market if sanctions were lifted.Iran has the world�s fourth-largest oil reserves. The OPEC member�s crude exports have fallen from more than 2.2 million barrels per day in 2011 to about 1.3 million bpd because of the US-EU sanctions.Traders also kept an eye on the latest Baker Hughes count of US crude-oil drilling rigs, looking for clues that the strong US crude output could be easing. The count fell by 11 rigs from last week, and the number of operating rigs has fallen more than 50 percent since October.                                   
 Oil futures climbed more than $1 a barrel on Monday, after Saudi Arabia raised prices for crude sales to Asia for a second month, signalling better demand in the region.International benchmark Brent regained ground after tumbling as much as 5 percent on Thursday, when a preliminary nuclear deal was finally reached between world powers and Iran. More Iranian oil could enter global markets if that is followed by a comprehensive deal by June.But analysts warned a ramp-up in exports could take months and would likely not happen before 2016."While clearly a bearish headline, a final deal and full lifting of sanctions still faces a number of obstacles," Morgan Stanley analysts said in a note."Even if a final deal is reached, we do not expect any physical market impact before 2016," the analysts said.Brent crude for May delivery touched a high of $56.19 a barrel and was up $1.19 from Thursday at $56.14 by 0635 GMT. US crude for May delivery was $1.21 higher at $50.35 a barrel, after earlier touching $50.48.There was no settlement in either Brent or US crude futures on Friday as markets were closed for the start of the Easter holiday.Despite the sanctions on Iran, China's imports from the OPEC producer are set to rise from August as a Chinese state trader has signed a deal with the National Iranian Oil Company to buy more condensate.The world's top exporter Saudi Arabia kept output steady and cut its official selling prices (OSPs) sharply late last year in a fight for market share during a global supply glut.Its ability to raise prices for April and May suggests its strategy is working, although competition has kept its flagship Arab Light at a discount to Oman/Dubai quotes, analysts said."There is still competition for the Asia market even though it is also a sign that some of the production elsewhere is less able to compete in the market right now," said Shunling Yap, a senior oil and gas analyst at BMI Research.On the supply front, the number of rigs drilling for oil in the United States declined by 11 last week to 802, the smallest drop since December, a weekly survey by oil service firm Baker Hughes showed on Thursday.Two weeks of small declines in the US rig count have raised expectations that drilling activity is nearing a level that could dent output, bolster prices and coax rigs back to the field after a precipitous cull since October.                                   
 Oil prices fell Tuesday, with profit-taking in evidence a day after the market rallied on doubts over an agreement with Iran over the crude producer�s nuclear programme, traders said. US benchmark West Texas Intermediate (WTI) for delivery in May dropped 64 cents to $51.50 a barrel compared with Monday�s close. Brent North Sea crude for May lost 46 cents to $57.66 in midday trade.The contracts had surged by three dollars each on Monday."The current decline in oil prices is most likely due to profit-taking," Ken Hasegawa, energy trading manager at Newedge Group, told AFP. Analysts attributed the steep gains on Monday to investors concluding that the nuclear framework agreed between Iran and international powers will have a minimal near-term effect on global crude supplies.The deal Tehran agreed with the United States, Britain, China, France and Russia plus Germany paves the way for the Islamic republic to curtail its nuclear activity in exchange for relief from punishing economic sanctions, including on oil investment."Most traders were waiting on Iran nuclear talks to cause a flood in Iranian oil as sanctions get lifted," said Daniel Ang, investment analyst at Phillip Futures in Singapore. "However, the tone from the US seems firm and this means that sanctions would only be lifted slowly," he added.Iran has the world�s fourth-largest oil reserves but its exports have fallen from more than 2.2 million barrels per day in 2011 to about 1.3 million because of the US-EU sanctions, which were put in place to prevent it building a nuclear bomb. (AFP)                                   
 Asian markets rallied Wednesday, led by an almost four percent surge in Hong Kong on its first post-holiday trading day as it reacted to weak US jobs data that reduced the chances of a rate rise any time soon.The Japanese central bank�s decision to delay any new easing measures pushed the yen up against the dollar, while investors await the release of minutes from the Federal Reserve�s latest policy meeting.Oil prices ticked lower on profit-taking in Asia after climbing Tuesday to their highest level of 2015.Hong Kong, which last traded on Thursday, soared 3.80 percent, or 961.22 points, to 26,236.86.Shanghai ended 0.84 percent, or 33.43 points higher at 3,994.81 and Tokyo added 0.76 percent, or 149.27 points, to 19,789.81.Sydney rose 0.59 percent, or 34.7 points, to 5,960.7 and Seoul advanced 0.60 percent, or 12.23 points, to end at 2,059.26.Last week�s Labor Department data showing that the US economy created fewer jobs in March than it had for more than a year raised expectations that rates will be kept low through the summer.The next focal point is the release later Wednesday of minutes from the last Fed meeting, with dealers poring over them for clues about when the bank plans to announce a rise.In currency trading the dollar edged down after the Bank of Japan stood pat on monetary policy even though the country is struggling to overcome anaemic price growth.The dollar bought 119.88 yen, down from 120.32 yen in New York Tuesday but well above the low-119 yen range seen in Tokyo at the start of the week soon after the US jobs data.- Greece fears linger -"There�s still a little bit of doubt in the market as to really where the US economy is, and more importantly, how the Fed perceives the US economy," Raiko Shareef, a markets strategist in Wellington at Bank of New Zealand, told Bloomberg News. The dollar is "in a little bit of a holding pattern", he added.The euro rose to $1.0875 in Tokyo from $1.0813 in New York and to 130.32 yen from 130.11 yen.However, dealers were cautious as Greece faces a Thursday deadline for its next bailout repayment to the International Monetary Fund. Eurozone deputy finance ministers will meet on Wednesday and Thursday to seek agreement on Athens�s reforms needed to unlock the last tranche of its multibillion-dollar bailout and avert a default.On Wall Street Tuesday the Dow edged down 0.03 percent, the S&P 500 dropped 0.21 percent and the Nasdaq fell 0.14 percent.Oil prices retreated from their 2015 highs, which were prompted by an easing of fears that Iranian crude would soon flood the market after last week�s nuclear deal with the West. Also providing support was news that Saudi Arabia had raised prices for Asia, citing increased demand.US benchmark West Texas Intermediate for May delivery fell $1.10 to $52.88 a barrel in afternoon Asian trade and Brent crude for May dropped 71 cents to $58.39.On Tuesday WTI rose $1.84 and Brent was up 98 cents.Gold fetched $1,211.01 against $1,212.72 late Tuesday.In other markets:-- Taipei fell 0.73 percent, or 69.93 points, to 9,571.97.Taiwan Semiconductor Manufacturing Co. sank 2.05 percent to Tw$143.0 while Hon Hai eased 0.11 percent to Tw$93.7.-- Wellington was flat, edging up 4.28 points to 5,859.71.Spark New Zealand sank 2.77 percent to NZ$2.98 while Air New Zealand added 1.29 percent to NZ$2.75.-- Manila closed 0.77 percent lower, giving up 60.72 points to 8,037.96.Ayala Land was unchanged at 40 pesos while BDO Unibank Inc. dropped 1.17 percent to 118.50 pesos and Metro Pacific Investments fell 4.13 percent to 4.64 pesos. (AFP)            
 The National Electric Power Regulator Authority (NEPRA) has approved a Rs4.42 per unit decrease in the price of electricity. The decrease was made under the monthly fuel adjustment for February on the petition of the Power Purchasing Agency.             
 Oil prices nudged higher on Friday, further recovering from a steep dive seen mid-week, although demand is set to remain shackled by a global supply glut, analysts said.US benchmark West Texas Intermediate for delivery in May edged up one cent to $50.80 a barrel.Brent North Sea crude for May gained 27 cents to $56.84 around midday in London.WTI and Brent sank 3.6 percent on Wednesday after the US Department of Energy said commercial inventories in the world�s biggest economy hit a record high last week.That came after Saudi Arabia�s Oil Minister Ali al-Naimi said his country�s production had hit an all-time high of 10.3 million barrels a day in March.Phil Flynn, an analyst at Price Futures Group, has said this week that rising imports of US crude oil could indicate improved demand prospects in the world�s largest oil consumer or concerns about supply tightening.Price support has meanwhile come from events concerning major oil producer Iran.Analysts attributed steep gains at the start of the week to investors concluding that the nuclear framework agreed between Iran and international powers will have a minimal near-term effect on global crude supplies.The deal Tehran agreed with the United States, Britain, China, France and Russia plus Germany paves the way for the Islamic republic to curtail its nuclear activity in exchange for relief from punishing economic sanctions, including on oil investment.The United States on Thursday warned that sanctions on Iran will be lifted in stages as a nuclear deal is implemented, after Tehran demanded they be removed as soon as it comes into force."Geopolitical factors remain a constant worry for investors with concerns regarding Iran�s nuclear programme potentially leading to ongoing volatility in the crude oil market," said Kash Kamal, senior research analyst at Sucden brokerage. (AFP)                                   
 Privatization Commission Chairman Muhammad Zubair on Saturday said the government is getting an offer of 1.6 billion dollars against the shares of Habib Bank Limited which it has decided to offload.Speaking at a press conference, he said selling HBL�s shares holds economic significance for the country, and due to government�s better policies the market has witnessed improvement. He said the market surged to 35000 points and attributed it to the robust economic reforms introduced by the government. He said the share prices were making huge gains between May 2013 and February 2015.             
 A high-level meeting in Islamabad on Sunday reviewed ways for smooth and regular supply of LNG to three  power plants in Punjab with a total capacity of 3,600 megawatts.The meeting presided by Finance Minister Ishaq Dar was attended by senior federal and Punjab government officials.These power plants each of 1200-megawatt capacity are to be constructed at Kasur, Sheikhupura and Jhang districts.The meeting was apprised that the federal government will lay an eleven hundred-Kilometer long North-South pipeline to transport the LNG, to the plants.The Finance Minister said a mechanism would also be devised to supply LNG to these plants.            
 Under Pakistan Remittances Initiative (PRI) scheme, overseas Pakistanis have sent remittances worth 13.3 billion dollars in the first nine months of the current financial year, Finance Minister Ishaq Dar said on Monday.     Appreciating the spur in growth of remittances at a meeting in Islamabad today, the Finance Minister said this not only showed a 15 percent increase over the same period last year but also revealed that an increasing number of overseas Pakistanis are sending remittances through formal banking channels.     Dar further said under the scheme banks would be paid 20 Riyal on a minimum remittance of 200 dollars from the first of July this year.            
 Most Asia markets climbed Monday, with Hong Kong advancing for an eighth straight session and Shanghai rallying after another disappointing batch of Chinese data that will add to hopes for fresh easing measures.Wall Street provided another strong lead, boosted by a string of merger announcements last week and a huge asset sale by General Electric (GE).Hong Kong was up 0.41 percent -- adding to the more than 11 percent gain seen over the past seven days -- while Shanghai ticked 1.30 percent higher. Sydney added 0.20 percent and Seoul put on 0.12 percent, but Tokyo retreated 0.13 percent by lunch.In China the customs administration said imports and exports sank in March, the latest figures to show the world�s number two economy continues to struggle. However, they will also reinforce investors� expectations that authorities will unveil a new round of growth-fuelling policies.Those expectations have powered a rally in Shanghai shares to seven-year highs over the past 12 months, and now mainlanders are jumping into Hong Kong�s market looking for what they consider cheap equities. Hong Kong�s Hang Seng Index has climbed more than 11 percent over the past seven sessions, and is on course for another rise Monday.Turnover hit two successive records last week as traders north of the border make the most of a link-up between the index and Shanghai�s exchange.While the stock connect programme was initially met with little interest, the decision by mainland authorities last month to expand the number of fund-management firms allowed to buy in Hong Kong has seen activity surge.Attention will now turn to the release Wednesday of Chinese economic growth figures for the first three months of the year.In New York the Dow got a bump from GE�s announcement that it will sell $26.5 billion in real estate assets as part of a plan to pare off most of its GE Capital unit over the next 24 months. That came at the end of a week that also saw major mergers including Royal Dutch Shell and FedEx.The Dow climbed 0.55 percent, the S&P 500 rose 0.52 percent and the Nasdaq gained 0.43 percent.On currency markets the dollar was at 120.31 yen, compared with 120.30 yen in New York.The euro bought $1.0590 and 127.41 yen against $1.0599 and 127.50 yen.Oil prices edged higher. US benchmark West Texas Intermediate for May delivery gained 28 cents to $51.92 while Brent crude for May rose 25 cents to $58.12. Gold fetched $1,209.41 against $1,202.92 late Friday. (AFP)                                   
 Lending to private sector contracted by 36.5 percent during the first nine months of the current fiscal year of 2014/15, despite the central bank�s efforts to get credit flowing through thrice cut in policy rates, data showed on Tuesday.Analyst said banks� hefty invested into the government papers and low borrowing costs have made little success in investment and spending by the businesses and consumers.The flow of loans to different firms fell to Rs178.9 billion between July 1, 2014 and April 3, 2015 against Rs281.9 billion during the same period of last fiscal year, the central bank said.Analysts said that bank heavy investment in the government treasury reduced the supply of lendable funds for the private sector despite falling borrowing costs.Since the start of 2014, banks have been actively placing funds in long-term Pakistan Investment Bonds, which carry much higher returns than the weighted average lending rate banks get from the industrial sector.And the central bank also continued to pump liquidity into the banking system to meet the shortage in the market because of banks� higher investment in the government papers.The State Bank of Pakistan injected a record high Rs842 billion into the banking system on March 20, through the opening market operations.Tuesday�s data on monetary aggregates depicted that the government borrowing from commercial banks reached at high level of Rs1.230 trillion from a same period a year ago.The government�s rising demand for bank borrowing has pushed out the private sector from banking.According to report from a brokerage house, investment to deposit ratio (IDR) of banks increased to 61.2pc in 2014 as compared to 54.1pc in the preceding year. Investment in government securities touched new peak as such a high IDR level has never been achieved previously.Though yields on the government papers are falling (7pc on T-bills and 8-9pc on PIBs), an anticipation of further cut in discount rate pushes banks to lock-in funds in PIBs on high returns.Since November 2014, the cumulative discount rate has been reduced by 200 basis points following low inflation and positive outlook on external sector.The government is not firmly agreed with the analysts� view that banks are not interested in extending private sector loans and parking their whole money into the government papers.The government in its latest letter of intent to the IMF said, �Private sector credit continued its healthy expansion (10.2 percent so far in FY15) driven mainly by businesses, and in particular manufacturing.�Some analysts foresee bank lending to start expanding in coming quarters. Within different financing segments, a moderate pickup is expected in consumer loans.The State Bank, with the help of World Bank experts, has developed a comprehensive National Financial Inclusion Strategy (NFIS) to implement financial sector reforms to meet their financing needs. The central bank is likely to launch the NFIS by end-April 2015.In order to improve the credit information system to help banks extend credit to broader sections of society, the Credit Bureau Act was submitted to parliament in February 2014 and the government expects it to be enacted by November 2015 to ensure that credit information sharing will protect the privacy rights of individuals.Private investment and growth are hampered by impediments in the legal framework for creditors� rights and contract enforcement, barriers to new business start-ups, complex legal, taxation and border trade requirements, and impaired access to finance.            
 US oil prices shot up to a 2015 peak Wednesday after a slight dip in US oil production sparked talk that the glutted petroleum market could be turning.US benchmark West Texas Intermediate for May delivery jumped $3.10 to $56.39 a barrel on the New York Mercantile Exchange, the highest closing price since December 23.European benchmark Brent oil for delivery in May rose $1.89 to $60.32 a barrel in London.The gains extended a market rally into a fifth straight day.Earlier in the day, the US Department of Energy reported US oil production fell by 20,000 barrels, or 0.2 percent, to 9.38 million barrels per day, in the week ending April 10.US crude inventories stand at the highest level for this time of year in at least the last 80 years, the DoE said, but the increase last week was smaller than expected.Analysts expressed caution at Wednesday�s price surge."I think this rally will stall," said Matt Smith, an analyst at Schneider Electric. "We got quite a bit ahead of ourselves here." Smith said it is likely still too soon for the lower US rig count to meaningfully dent supply."Yes, there are a couple of data points, but that doesn�t mean the US is not overflowing crude," he said.Meanwhile, the Paris-based International Energy Agency cut its supply forecast for non-OPEC countries, citing a lower outlook for US and Canadian production and the "worsening conflict" in Yemen.The agency also bumped up by 90,000 barrels per day its forecast for 2015 petroleum demand. The IEA now expects 2015 consumption of 93.6 million barrels per day, up 1.1 million barrels per day for the year. (AFP)                                   
 Pakistan needs a �huge amount of financing� for infrastructure and energy projects and China is ready to announce help when President Xi Jinping visits next week, a foreign ministry official said Friday.Islamabad has for decades been Beijing�s closest ally in South Asia, and China -- which is expanding its influence in the region -- is a major trading partner and key supplier of military technology to Pakistan.Chinese assistant foreign minister Liu Jianchao declined to offer details in a briefing to reporters ahead of Xi�s two-day trip, which starts Monday, saying that the "specific figure" would be announced during the visit.But he said a "huge amount of financing" was needed for projects in the transport, infrastructure and energy fields that are part of a China-Pakistan economic corridor initiative."China stands ready to provide financial support for Pakistan to be used on these projects," Liu said.The Wall Street Journal reported that Xi would announce a $46 billion spending plan for infrastructure, with the largest share going for electricity generation.Xi was originally scheduled to visit last September but Beijing cancelled the trip with Islamabad in the grip of major anti-government street protests.China has been a key financial and military ally of Islamabad over the years and Pakistani Prime Minister Nawaz Sharif secured promises of $42 billion worth of investment when he went to Beijing in November last year.Much of that centred on the energy sector -- Pakistan has wrestled with chronic power shortages in recent years that have scrubbed several points off GDP growth and inflicted misery on the everyday lives of its citizens.Pakistan�s foreign ministry said Thursday that a number of important agreements and memorandums of understanding would be signed during the visit, but gave no details.Liu said Xi�s visit would be the first by a Chinese president in nine years and stressed that it was his first overseas trip this year."It is yet another major diplomatic action taken by China�s top leader in China�s neighbourhood," he said.He added that the trip will "map out an overall plan for China-Pakistan relations and cooperation in various areas for the next five to 10 years and take bilateral relations to a new level."            
 Asian markets followed a positive lead from Wall Street on Tuesday, with investors keeping an eye on Europe as Greece struggles to pay off its debts.Tokyo rose 0.79 percent, Hong Kong added 1.14 percent, Sydney gained 0.93 percent and Shanghai was up 0.72 percent, while Seoul was flat.The gains reversed some of the losses suffered on Monday that came on fears about Greece�s future in the eurozone as Athens looks to secure billions of euros in bailout cash to pay its enormous debts.With its creditors refusing to extend a repayment deadline while also haggling over its bailout reforms, the Greek government has ordered all public agencies to hand over their financial reserves."With this act, the government hopes to cover urgent needs of the state amounting to three billion euros for the next 15 days," said a decree, which still needs adoption by the parliament.However, the euro held its ground in foreign exchange markets. The single currency bought $1.0733 and 128.20 yen against $1.0741 and 128.05 yen on Wall Street.Hong Kong and Shanghai resumed their upward trend after sharp losses Monday that came after China�s stock market regulator tightened rules on trading with borrowed money and increase the supply of shares for short-selling.Confidence was buoyed by Sunday�s cut by the People�s Bank of China in the amount of cash lenders must hold in reserve, the move aimed at helping kick-start the economy, which grew in January-March at its slowest quarterly pace in six years. The next indicator on the state of China�s economy comes with HSBC�s preliminary index of manufacturing activity on Thursday.US traders welcomed that move. The Dow jumped 1.17 percent, the S&P 500 rose 0.92 percent and the Nasdaq rallied 1.27 percent.The dollar edged up despite a key Federal Reserve official suggesting a US rate hike could be put back.New York Fed President William C. Dudley said recent inflation data was not strong enough to warrant an increase, even though economics growth was healthy.The dollar was at 119.34 yen against 119.22 yen, and sharply higher than 118.62 yen in Tokyo earlier Monday.Oil prices retreated. US benchmark West Texas Intermediate for May delivery fell 15 cents to $56.23 while Brent crude for June dipped 15 cents to $63.30.Gold fetched $1,194.55 against $1,200.30 late Monday. (AFP)                                   
 Oil prices traded mixed Monday after China slashed bank reserves requirements to get credit flowing more easily in the world�s largest energy consumer.West Texas Intermediate for May delivery climbed 64 cents to close at $56.38 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for June delivery, the global benchmark, was unchanged from Friday at $63.45 a barrel.China�s central bank announced Sunday it was cutting the reserve requirement ratio, the amount of cash that commercial banks must hold in reserve, by one percentage point, the second such move this year to boost lending. The move took effect Monday."While additional RRR cuts were expected throughout 2015, the size and timing of this cut indicates leaders are more deeply concerned about the state of the economy than official comments previously indicated," said Brian Jackson, China economist at IHS Global Insight.Jackson noted it was the largest RRR reduction since November 2008 amid the global financial crisis.Lifted in early trade by the Chinese action, prices retraced some gains after Saudi Arabia�s oil minister, Ali al-Naimi, pointed to strong crude production, only for prices to rise again on a bullish forecast for US inventories."It�s been choppy," said John Kilduff of Again Capital.Investors, he said, are "trying to determine when the production tide is going to turn" in the United States, which has been pumping out historic amounts of crude despite a global supply glut.Kilduff said a report by energy information company Genscape, showing that crude reserves at the key storage hub in Cushing, Oklahoma, had fallen by 900,000 barrels, had boosted trader sentiment.Dealers are also reading a drop in US oil rig activity as a sign of a production slowdown that could alleviate the global oversupply and push up prices that have halved since mid-2014."There may be scope for oil prices to be lifted further in the near term both by falling US oil output and crude stock data, and by better news on the demand side from the economies of the US, eurozone and China," said Julian Jessop, head of commodities research at Capital Economics. (AFP)                                   
 Federal Minister for Planning and Development Ahsan Iqbal said on Wednesday that out of a total of 46 billion dollars, 37 billion is pure Chinese investment, while remaining are soft loans.Addressing a media conference along with Information Minister Pervaiz Rashid in Islamabad today, he said the Chinese government will subsidise concessionary part for Chinese companies working on infrastructure related projects under the China-Pakistan Economic Corridor (CPEC). He went on to say that said all energy related projects would be implemented in investment mode, adding that the foundations of projects worth 28 billion dollars have been laid.Iqbal further said all the projects would be completed within the stipulated time and no incompetence will be tolerated regarding completion of the projects. The minister also said that the CPEC will transform starvation ridden Thar into an energy hub.             
 Japanese shares hit a 15-year high Wednesday after the country recorded its first trade surplus in three years, while the euro weakened on growing concerns that Greece will not reach a bailout reform deal with its creditors.With few catalysts to spur business in Asia, other markets were mostly higher despite a broadly negative lead from Wall Street.Tokyo rallied 1.11 percent, Hong Kong gained 0.12 percent and Shanghai put on 0.26 percent while Seoul added 0.72 percent. Sydney slipped 0.58 percent.Tokyo�s Nikkei broke back through the 20,000 point barrier -- after briefly clearing the hurdle earlier this month -- as the yen slipped against the dollar.Before the market opened the finance ministry said March saw the country enjoy its first trade surplus since June 2012 thanks to tumbling oil prices and a boost in exports.However, economists warned the positive results might not last."We expect the yen to weaken further in coming months, which should lift the cost of imports by more than the yen-value of exports," Marcel Thieliant at Capital Economics wrote in a commentary."The trade balance is unlikely to remain in surplus for long."The dollar was at 119.68 yen against 119.63 yen in New York and well up from 119.44 yen in Tokyo earlier Tuesday.The dollar�s strength comes despite the diminishing likelihood of a US rate hike by the US Federal Reserve soon."More and more the expectation is that the Fed won�t do anything soon. The momentum in equities is still there," Evan Lucas, a markets strategist at IG in Melbourne, told Bloomberg News.The euro slipped as investors nervously follow events in Europe as Greece struggles to scrape cash together to pay its bills.Athens is facing a backlash from the country�s mayors after it issued a decree ordering them to hand over their reserves in order to service its debts and pay wages.The government is locked in negotiations with its international creditors on unlocking some billions of euros in much-needed bailout funds. Failure to secure the cash will likely see it default and possibly crash out of the eurozone, which analysts fear could have global repercussions.Greece�s creditors sounded the alarm Saturday over the pace of debt negotiations, with European Central Bank chief Mario Draghi saying: "More work, much more work is needed now, and it�s urgent."The euro slipped to $1.0721 and 128.33 yen from $1.0735 and 128.42 yen in US trade.On Wall Street the Dow fell 0.47 percent and the S&P 500 slipped 0.15 percent but the Nasdaq added 0.39 percent.The next focus for investors is the release Thursday of HSBC�s preliminary report on activity in China�s manufacturing sector, which will give the latest indication about the state of the world�s number two economy.Oil prices were lower. US benchmark West Texas Intermediate for May delivery fell 31 cents to $56.30 while Brent crude for June dipped 14 cents to $61.94.Gold fetched $1,200.25 against $1,198.35 late Tuesday. (AFP)                                   
 Oil prices fell Tuesday as the Saudi-led coalition announced an end to its military strikes in Yemen and the market expected another rise in US crude inventories. West Texas Intermediate for May delivery sank $1.12, or two percent, to close at $55.26 a barrel on its last day the contract�s trade on the New York Mercantile Exchange.Brent North Sea crude for June delivery, the global benchmark, settled at $62.08 a barrel in London trade, down $1.37 (2.2 percent) from Monday�s closing level.News of the Saudi-led coalition wrapping up air strikes against rebels in Yemen, coming in afternoon trade in New York, accelerated losses on the market, said Phil Flynn of Price Futures Group."Oil is selling because the Saudis are going to end their operation in Yemen," Flynn said. "This is why we�ve seen the precipitous drop in prices in the last few minutes."The end of four weeks of air strikes against the Huthi rebel forces, with the coalition saying the rebels� threat to Saudi Arabia and neighboring countries had been removed, eased concerns about the spreading unrest in Yemen.Although Yemen is not a particularly important oil producer, market watchers have been worried about the impact of the turmoil on the oil-rich region, notably in Iran, which is suspected of supporting the rebellion.Expectations for Wednesday�s weekly inventories report from the US Department of Energy were bearish. The country�s historically high crude inventories were estimated to have increased by 2.5 million barrels in the week ended April 17, according to a Bloomberg News survey of experts.Oil prices have shed about half their value since last June amid a supply glut and weak demand growth.For many analysts, recent gains in oil prices were mainly the result of speculative buying by investors betting that the fundamentals of supply and demand would improve. News last week of a slight decline in US oil production had boosted prices."There is no fundamental explanation for the price spike," Commerzbank analysts said in a research note Tuesday. "Due to sharply higher OPEC oil production, the market remains significantly oversupplied." (AFP)                                   
 Punjab Chief Minister Shahbaz Sharif on Thursday said China has set a unique example of friendship through unprecedented investment of $46 billion for Pakistan.He was talking to a high level delegation of China Machinery Engineering Corporation in Lahore today.Both sides discussed matters pertaining to cooperation in energy and mining sectors. He said these historical investment packages are not only an opportunity but also a big challenge for Pakistan.            
 Minister for Water and Power Khawaja Asif on Friday said that maximum relief is being given to the consumers in power tariff.Talking to the media in Islamabad today, he said electricity generation has increased by 1,500 megawatts as compared to the last year.About the projects being started in the power sector, the minister said that projects of 8,370 MW have been signed with China and these projects will be implemented in all the provinces. Asif added that these projects will bring an investment of $20 billion.He went on to say that imported LNG will be given to the five power plants which will enhance their efficiency.He further said the government has ensured zero load-shedding to the industrial sector in the last four months. He also said that due to the government's efforts, line losses have decreased and circular debt is $70 billion lower as compared to the last year.            
 Most Asian markets rose Friday, taking a positive lead from Wall Street where the Nasdaq broke a 15-year-old record high, while the euro ticked higher ahead of a key eurozone meeting to discuss Greece�s debt crisis.Oil prices edged down after another rally that has been fuelled by worries that unrest in Yemen could hit Middle East supplies.Hong Kong added 0.45 percent, Sydney rose 1.19 percent and Seoul gained 0.23 percent while Singapore put on 0.41 percent and Taipei jumped 1.35 percent.However, Tokyo slipped 0.55 percent and Shanghai lost 0.68 percent.With few catalysts in Asia, investors tracked their US counterparts, where the tech-heavy Nasdaq passed its previous record high set at the peak of the dot-com boom.The index added 0.42 percent to finish at 5,056.06, finally making up the nearly 4,000 points lost in a stunning crash that followed the previous closing high set on March 10, 2000.The Dow gained 0.11 percent and the S&P added 0.24 percent.Thursday�s advances came despite official data showing fresh claims for US unemployment insurance benefits edged up marginally, while sales of new homes plunged in March after a sharp rise in February.The figures will further muddy the waters for the Federal Reserve as it debates when to hike record-low interest rates. On forex markets the dollar eased to 119.50 yen from 119.55 yen in New York late Thursday as expectations for an early summer hike narrow following several below-par US readings lately.The euro bought $1.0814 and 129.25 yen against $1.0823 and 129.39 yen in US trade.However, the single currency is still up from the $1.0703 and 128.28 yen in Tokyo earlier Thursday ahead of the meeting of eurozone finance ministers in Latvia�s capital Riga later in the day to talk about Greece.The Eurogroup meeting comes with Athens running out of cash and struggling to reach a bailout reform deal with its creditors that will unlock billions of euros to service its debts to avert a default and likely exit from the eurozone.However, Kathy Lien of BK Asset Management said that while there is optimism an agreement can be reached "in reality the rebound in (the euro) reflects short covering ahead of the meeting".Oil prices dipped on profit-taking after sharp gains Thursday that came as a Saudi Arabia-led coalition renewed airstrikes against rebels in Yemen.While Yemen is not a major producer, it sits on a key strategic entry point into the Red Sea through which some 4.7 million barrels of oil pass each day.US benchmark West Texas Intermediate fell 23 cents to $57.51 while Brent dipped 25 cents to $64.60.On Thursday WTI gained $1.58 and Brent advanced $2.12.Gold fetched $1,193.36 against $1,189.92 late Thursday. (AFP)                                   
 The transportation of cargo through freight trains has witnessed a marked improvement.According to Javed Anwar, the chief administrator of Pakistan Railways, the transportation of goods through freight train-mounted containers has surged by a whopping 10 times during July 2014 to March 2015.He said the transportation of coal went up by five times while that of cement almost doubled and that of oil saw an increase of 31 percent.            
 The price of petrol in Pakistan is expected to be reduced by Rs. 1.80, to settle at Rs. 73.21 from May 1, sources told Geo News on Monday.According to sources, OGRA will be sending a complete summary of the price changes for all POL products to the Petroleum Ministry by Wednesday, April 29.Furthermore, the price of diesel is expected to be decreased by Rs. 1.64, to settle at Rs. 81.97.On the other hand, the price of Kerosene oil is expected to be increased by Rs. 2, with the new price at Rs. 63.50.            
 Finance Minister Ishaq Dar said on Tuesday that the government is giving top priority to promote the agriculture sector to achieve a growth rate of seven percent by 2017.Dar was inaugurating a two-day International Conference on Innovative Agricultural Financing in Islamabad today.He said the government will soon launch a credit facility for farmers to boost agricultural growth. He said the government has put the economy on the path of high growth.He went on to say that the government is taking measures to enhance agriculture yield and ensure food security by introducing the best farming techniques. He further said �we have enhanced agriculture credit to Rs. 500 billion.� The Finance Minister also emphasised the need for diversification of crops to compete other countries of the world.            
 Tokyo stocks opened 0.49 percent higher Tuesday, led by a surge in Fanuc, while investors awaited full-year earnings by major Japanese firms and a US Federal Reserve policy meeting.The Nikkei 225 index at the Tokyo Stock Exchange rose 97.02 points to 20,080.34 at the start.The greenback bought 119.15 yen early Tuesday, up from 119.05 yen in New York late Monday.The euro fetched $1.0875 and 129.60 yen against $1.0889 and 129.64 yen in US trade.A weaker yen is positive for Japanese exporters as it makes them more competitive abroad and inflates the value of their repatriated profits.The slip in value of the Japanese currency has lifted hopes for another round of bumper earnings as Panasonic and Honda get set to report their results later in the day.Investors also awaited the outcome of a two-day meeting of the Federal Open Market Committee, the Fed�s policy arm, on Wednesday for signs of the timing of an interest rate increase, expected this year.In Tokyo early trade, Fanuc jumped 5.41 percent to 28,250.0 yen after the robot maker said it would double its dividend."The fact that Fanuc has doubled its dividend payout ratio will be a reason for stocks, especially the Nikkei 225, to rise," Toshihiko Matsuno, chief strategist at SMBC Friend Securities told Bloomberg News.But Tokyo Electron dropped 12.47 percent to 6,737.0 yen after the semiconductor equipment maker Tokyo Electron and US rival Applied Materials cancelled their merger Monday.US stocks fell back Monday from a three-day rally that saw record highs. The Dow Jones Industrial Average dropped 0.23 percent, while the Standard & Poor�s 500-stock index retreated 0.41 percent.Both the S&P and Nasdaq had built on record closes Friday as markets opened higher.            
 Oil and Gas Regulatory Authority (OGRA) has moved summary to the ministry of petroleum for changes in the petroleum product prices from May 01.Sources said, the regulatory body has recommended Rs01 per litre cut in the petrol price and Rs1.6 per litre in diesel price.However, the OGRA has recommended hike in HOBC and kerosene oil prices by Rs9.43 and Rs2.11 per litre respectively.                                   
 Asian markets slipped Wednesday after more weak US data raised questions about the health of the world�s top economy, while the dollar edged down as an early interest rate rise looks increasingly unlikely.The euro continued to hold its own, with investors hopeful that Greece will be able to hammer out a bailout reform deal with creditors and avert a default.Sydney plunged 1.85 percent, or 109.9 points, to 5,838.6, with big banks leading the decline as hopes of another interest rate cut waned. Seoul closed 0.23 percent lower, giving up 5.04 points to 2,142.63.Hong Kong ended 0.15 percent lower, shedding 42.41 points to 28,400.34, but Shanghai recovered from early losses to close flat -- edging up 0.41 points to 4,476.62.Tokyo was closed for a public holiday.With few major catalysts, regional investors are focusing on the Federal Reserve�s two-day meeting, which wraps up later in the day.While the US central bank will not announce any policy move, its statement will be pored over for any guidance on interest rates.On Tuesday the Conference Board reported its index of consumer confidence tumbled in March instead of rising as expected. Consumers reported growing pessimism about current and short-term US economic conditions.A series of disappointing indicators has fuelled speculation the US central bank will want to wait to increase rates, which have been pegged at zero since 2008. The Fed had signalled a possible rise as early as June, but analysts now expect it in September at the earliest.Wednesday will also see the release of the government�s first estimate on first-quarter economic growth, with analysts forecasting 1.0 percent, down from a 2.2 percent pace in the previous three months.However, on Wall Street Tuesday the Dow added 0.40 percent and the S&P 500 rose 0.28 percent. But the Nasdaq eased 0.10 percent.- Euro holds strength -The diminishing prospect of an early rate increase has weighed on the dollar, which fell to 118.88 yen in New York Tuesday from 119.10 yen earlier in the day in Tokyo. On Wednesday in Asia the greenback was at 118.82 yen.The euro was at $1.0998 and $130.90 against $1.0981 and 130.55 yen in US trade. It was sharply up from $1.0880 and 129.54 yen in Tokyo Tuesday.Even though talks between Greece�s government and its creditors are dragging on, there is hope for an agreement on the bailout that will unlock billions of euros, allowing Athens to avert a default and stay in the eurozone.Investors cheered Prime Minister Alexis Tsipras� decision to reshuffle his negotiating team, while he has also expressed confidence in a compromise.According to press reports Greece�s hard-left, anti-austerity leadership could also be prepared to adopt some reforms previously rejected, including a reinforced tax collection system, taxing television adverts and ramping up levies on luxury goods.Oil prices inched lower ahead of the release of the latest US supply report. US benchmark West Texas Intermediate fell 32 cents to $56.74 while Brent crude slipped 18 cents to $64.46.Gold fetched $1,208.05 against $1,201.29 late Tuesday.In other markets:-- Singapore fell 0.23 percent, or 7.94 points, to 3,487.15.United Overseas Bank declined 2.16 percent to Sg$24.42 while investment holding firm Ezion slid 5.24 percent to Sg$1.17.-- Bangkok was down 0.59 percent, or 9.06 points, to 1,522.47.Oil company PTT Exploration and Production lost 3.36 percent to 115.00 baht, while Siam Cement fell 2.19 percent to 536.00 baht.-- Kuala Lumpur slipped 0.65 percent, or 12.13 points, to 1,842.93.AMMB Holdings gained 0.46 percent to 6.49 ringgit while Public Bank ended 0.51 percent lower at 19.70 ringgit. Telekom Malaysia fell 0.27 percent to 7.47 ringgit.-- Jakarta was down 2.34 percent, or 122.87 points, to 5,119.29.Palm oil producer Astra Agro Lestari fell 1.85 percent to 19,925 rupiah while lender Bank Permata rose 1.25 percent to 1,620 rupiah.-- Taipei lost 1.03 percent, or 103.00 points, to end at 9,853.83.Smartphone maker HTC shed 5.7 percent to Tw$124.0 while Taiwan Semiconductor Manufacturing Co. was 1.98 percent lower at Tw$148hk.5.-- Wellington fell 0.50 percent, or 28.84 points, to 5,740.82.Air New Zealand shed 1.09 percent to NZ$2.715 and Fletcher Building was down 0.36 percent at NZ$8.21.-- Manila lost 0.77 percent, or 61.10 points, to 7,825.47.Shopping mall operator SM Prime Holdings fell 1.44 percent to 19.12 pesos, Metrobank was down 1.85 percent at 93 pesos and Banco de Oro sank 2.23 percent to 109.50 pesos.-- Mumbai declined 0.62 percent, or 170.45 points, to 27,225.93.Telecom major Bharti Airtel shed 3.32 percent to 387.50 rupees while Axis Bank rose 3.30 percent to 552.90 rupees. (AFP)                                   
 Maxus has been appointed as the Digital Media planning and buying agency for Nestl� Pakistan.According to a press release, this appointment builds on Maxus�s relationship with Nestl� alongside GroupM�s relationship across many markets around the world.�We have had a strong and productive relationship with our digital agencies but believe now is the moment for change,� says Samra Maqbool, Head of Communication and Marketing Services for Nestl� Pakistan.She further pointed out that the media landscape is evolving rapidly, adding, �it challenges us to innovate and find new ways of connecting with consumers. We believe that Maxus are the agency most capable of navigating our business through this period of transformation.�Sarwar Khan, Managing Director Maxus Pakistan, said, �We are delighted to have extended the group�s relationship with Nestl�. Maxus demonstrated digital leadership in communications planning and buying with the rigor that a prestigious business like Nestl� needs, underpinned by the scale that GroupM offers. We�re looking forward to working closely with the business to help Nestl� lean into change at a category and consumer level�.            
 Finance Minister Ishaq Dar announced on Thursday that the price of petroleum prices would remain unchanged for the month of May. The Oil and Gas Regulatory Authority (OGRA) had sent the summary seeking a change in prices which was rejected. Sources said, the regulatory body had recommended Rs01 per litre cut in the petrol price and Rs1.6 per litre in diesel price.OGRA had also recommended hike in HOBC and kerosene oil prices by Rs9.43 and Rs2.11 per litre respectively.            
 Milan�s Expo 2015 opened on Friday with hopes the six-month food-themed world fair will be a catalyst for economic revival competing with fears it will simply underline Italy�s deep-seated problems.The first global exhibition since Shanghai�s groundbreaking hosting five years ago has been beset by delays and the site was far from fully completed as the first visitors streamed in at 0800 GMT.Corruption scandals, fears of violent protests and evidence of a fledgling economic recovery running out of steam have all dampened the mood in the run-up to the event.But Italy is a master at delivering at the 11th hour -- the finishing touches to some of the stadiums for the 1990 World Cup came within minutes of kick-off.And a spectacular eve-of-opening concert, featuring tenor Andrea Bocelli, Chinese pianist Lang Lang and the choir and opera of the city�s renowned La Scala opera house performing in front of Milan�s magnificent Gothic cathedral, was a reminder of the country�s capacity to compensate with creativity for its shortcomings in the more humdrum aspects of event planning.Prime Minister Matteo Renzi has been bullishly predicting that it will all be alright on the night, facing down the opponents who say a state with Italy�s unsustainable debt should not be ploughing money into an event that is, by definition, ephemeral in nature.Those opponents are due to stage a major march on Friday and fears of a spillover into violence were raised by incidents on the eve of the opening, when a few dozen masked protestors attempted to spray-paint and smash the windows of a branch of Manpower, an employment agency that is one of the official partners of the Expo.- Milan seeking reinvention -Italy secured the rights to host the Expo seven years ago, long before Renzi came to power last year. But he has embraced it as an opportunity for Italy to show the world that it is reinventing itself under his leadership.The event plays to Italy�s strengths with its nutrition and gastronomy-based theme of "Feeding the Planet, Energy for Life."Organisers are predicting 20 million visitors over six months and a 10-billion-euro boost to economic activity through increased tourist revenues and other, harder to measure, benefits such as increased investment.More than a million Chinese are expected to visit Milan for the Expo and Italian officials are hoping some of them will become long-term business partners as the economic relationship between the two countries flourishes.For Milan, the Expo is also about reinvention with the city seeking to forge a new image as a 21st Century "smart" city that is defined as much by its flair for gastronomy, design and sustainable living as by its industrial past.There will be tight airport-style security around the site and a huge police presence on Friday in anticipation of the "No Expo" movement�s march.Earlier this week, police carried out pre-emptive raids on radical groups suspected of planning to ensure the demonstration turns into a showdown with the security forces.Officers seized fireworks, baseball bats, gas masks and material which could be used to make Molotov cocktails.The organisers of Friday�s demonstration have insisted it will be peaceful and accuse the police and media of whipping up public alarm because they are fearful that there will be more people protesting than visiting the Expo.The Expo�s critics have focused on the conditions of some of the 6,000 employees who have been engaged on a work experience basis, as well as the involvement of corporations such as McDonalds and Coca Cola, saying that has stripped the event of any environmental credibility.            
 Oil prices edged higher on Tuesday as the market seeks to build on strong gains in April following massive falls earlier in the year.US benchmark West Texas Intermediate for delivery in June won 56 cents to $59.49 a barrel.Brent North Sea crude for June won 47 cents to stand at $66.93 a barrel in London midday deals.After slumping at the start of the year, oil prices rose by about a fifth in value during April owing to several factors including concerns about unrest in Yemen, the weakening dollar and fewer US rigs in operation, analysts said.However, prices remain well down after plunging almost 60 percent between June and the start of 2015 on the back of a global supply glut and ramped up production."Crude oil producers in the US have significantly cut back output in an attempt to address the significant supply overhang which has exerted downward pressure on... prices since June last year," Kash Kamal, senior research analyst at Sucden brokers said on Tuesday.The International Monetary Fund has said that Gulf oil exporters must reduce spending, including subsidies, and diversify their economies to cope with lower revenues caused by the sharp drop in crude prices.The wealthy monarchies, however, should "not react in a knee-jerk way to lower oil prices", the IMF Middle East and Central Asia chief Masood Ahmed told AFP in an interview Monday."Saudi Arabia seem committed to defending their market share and have even increased output to over 10 million barrels per day in April," said Kamal."Support for higher crude prices has partly come from a weaker dollar," he added.A weaker dollar makes oil priced in the US unit cheaper for holders of others currencies, boosting demand. (AFP)                                   
 Gulf oil exporters must reduce spending, including subsidies, and diversify their economies to cope with lower revenues caused by the sharp drop in crude prices, the International Monetary Fund said.The wealthy monarchies, however, should "not react in a knee-jerk way to lower oil prices", the IMF Middle East and Central Asia chief Masood Ahmed told AFP in an interview Monday.They would be better off to "adjust gradually" using the large financial reserves they have accumulated during several years of bumper oil receipts, he said in Dubai. But as oil prices have dropped lower than budgeted breakeven levels, "it is important that they gradually, but in a determined way... reduce their spending (and) consolidate their fiscal position," Ahmed said.Oil prices have shed half of their value since June 2014, and are expected to be lower than the breakeven point for Gulf countries in the next three to four years.The Gulf Cooperation Council includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- economies all heavily dependent on energy revenues. A combined budget surplus for 2014 of $76 billion (68.5 billion euros) is expected to turn into a deficit of $113 billion this year, the IMF said in its latest regional report. "They need to act to reinforce their efforts to diversify their economies to become less dependent on oil," said Ahmed, pointing out that many have already taken such measures."The UAE is more advanced in terms of diversification. The others also are in varying degrees trying to encourage private sector activity outside the oil area." - Curb subsidies -GCC countries were also urged to cut energy subsidies in a bid to minimise public spending and trigger a change in consumer behaviour."Most GCC countries still have the domestic sale price for energy products below the international prices... We think that over time it is important to tackle the issue of energy subsidies to reduce them," Ahmed said.Gulf states should also contain salary growth in the public sector, which usually employs nationals as opposed to the private sector that depends on millions of foreigners.In addition, GCC countries would need to prioritise investment projects that "most advance the development agenda," said Ahmed.Oil-export revenues for GCC countries are forecast to be $280 billion lower this year than a year ago.With the exception of gas-rich Qatar and Kuwait, all GCC states are expected to face budget deficits this year, said Ahmed, adding this could persist for two or three years."The important thing to recognise is that GCC countries have built up financial buffers that put them in a very strong position to be able to use these savings to finance expenditure and to have a gradual decrease in spending over the coming years," he said.This in turn would minimise the economic impact of the drop in oil prices. GCC states are estimated to have foreign reserves of about $2.5 trillion."The impact on (economic) growth is quite limited," said Ahmed.The IMF has forecast GCC countries to grow as a group at 3.4 percent in 2015, one percent down from earlier predictions, mainly because of a slowdown in non-oil growth in response to lower oil prices.             
 Standard and Poor's on Tuesday revised Pakistan's credit rating outlook from stable to positive and forecast higher GDP growth for 2015 to 2017, amid a stint of economic reforms.In a statement, the agency said the country had made significant progress in stablising its economic, fiscal and external performance, alongside eased financing conditions.�We are therefore revising the outlook on the long term ratings on Pakistan to positive from stable,� the agency said, affirming a B- rating.S&P also revised its earlier average growth estimates for 2015 to 2017 to 4.6 percent from 3.8 percent.This reflected �strong capital inflows and remittances, and lower oil prices, which support business confidence and investment spending,� it said.Pakistan�s GDP grew by 4.1 percent in the fiscal year ending June last year.Net foreign exchange reserves with the central bank reached $12.36 billion dollars in recent weeks from just $3.2 billion in January 2014.The International Monetary Fund (IMF) has voiced satisfaction with Pakistan�s progress on reforms required under a $6.6-billion bailout agreed in 2013.The loan came on condition that Pakistan � which was suffering an energy crisis � would carry out extensive economic reforms, particularly in the energy and taxation sectors.In March, Moody�s upgraded Pakistan�s dollar bonds rating one notch from stable to positive.Pakistan has been trying to boost its flagging economy since Prime Minister Nawaz Sharif was elected nearly two years ago.                                   
 State Bank of Pakistan (SBP) on Thursday announced that the moratorium on KASB Bank Limited has been lifted and it has been merged with BankIslami Pakistan.The SBP spokesman said today that all account holders of KASB can withdraw their money from their branches. He added that all KASB depositors have been transferred to BankIslami.The spokesman welcomed the patience of KASB bank depositors for a period of six months.The State Bank had placed the publicly quoted KASB Bank Limited under moratorium for a period of six months to protect the interest of depositors and other stakeholders.The SBP had said the moratorium would be effective from the close of business on November 14.�In order to protect the interest of depositors and other stakeholders and due to the financial health and other circumstances of KASB Bank Limited, the federal government, on the application of the State Bank of Pakistan, has placed the KASB Bank Ltd. under moratorium for a period of six months with effect from close of business as of November 14,� the statement said.�Consequently, the payment of certain debts and obligations from the bank would be suspended while it would continue to receive all payments/recoveries due to the bank,� it added.During the moratorium period, the central bank will consider the various options, including amalgamation of the KASB Bank Limited with any other bank and finalise plans in the depositors� interest.                                   
 Asian shares fell Thursday after Wall Street dropped on weaker-than-expected US economic data and a warning from Federal Reserve Chair Janet Yellen that stock valuations were "quite high".Tokyo stocks fell 1.23 percent after a three-day holiday. The Nikkei 225 index ended 239.64 points lower at 19,291.99, while the Topix index of all first-section issues was down 0.69 percent, or 10.97 points, to 1,574.64.Sydney fell for the third straight day, finishing 46.5 points, or 0.82 percent, lower to 5,645.7 as mining stocks slipped despite recent gains in commodity prices.South Korean shares fell 0.65 percent or 13.58 points to close at 2,091.00 on heavy foreign selling, and Hong Kong ended 1.45 percent lower.Mainland Chinese markets took a dive on worries regulators may tighten control over margin trading, a practice which allows investors to trade with borrowed money.The China Securities Regulatory Commission on Thursday initially denied the reports on its official microblog, but later removed the statement.The benchmark Shanghai Composite Index tumbled 2.77 percent, or 117.06 points, to 4,112.21 on turnover of 540.2 billion yuan ($88.4 billion).The Shenzhen Composite Index, which tracks stocks on China�s second exchange, fell 1.15 percent, or 25.41 points, to 2,181.30 on turnover of 427.0 billion yuan.Fresh US data was relatively weak. Non-farm productivity fell 1.9 percent in the first quarter year-on-year in the second straight quarterly fall.Payroll firm ADP meanwhile reported the US added just 169,000 private-sector jobs in April, the second month in a row under 200,000, as the oil sector downturn continued to pinch the labour market.The figures came ahead of Friday�s highly anticipated Labor Department jobs report."The US economy was expected to bottom out in March and recover in the second quarter, but so far the figures for April have been poor," Mitsushige Akino, executive officer at Ichiyoshi Asset Management in Tokyo, told Bloomberg News."Sentiment could sour even more depending on the April payrolls report. Risk-off moves could intensify if the US economic situation is deemed weak."- US overheating? -Sentiment also took a hit as Yellen warned that US stock markets were at risk of overheating."There are potential dangers there," she told a conference, but added there was no rapid credit growth and "no signs of a financial bubble.""I believe we are better positioned now" to see risks, Yellen added.The comments helped to dampen investors� spirits with the Dow Jones Industrial Average falling 0.48 percent, while the S&P 500 was down 0.45 percent and the Nasdaq Composite Index lost 0.40 percent.Investors were also keeping a close eye on the tense situation in cash-strapped Greece, after the European Union and International Monetary Fund hit back Wednesday at accusations by Athens that internal rifts were blocking a bailout deal.Oil prices fell in Asia Thursday as dealers fretted over a lower-than-expected drop in US crude production that dimmed hopes of a quick end to a global supply glut, analysts said.US benchmark West Texas Intermediate for June delivery fell 35 cents to $60.58 while Brent crude for June eased 36 cents to $67.41 in afternoon trade.In currency markets, the dollar notched up modest gains after dropping sharply in New York on the weak US data, which raised more questions about whether a Fed interest rate hike would be pushed back.In Tokyo afternoon trading, the greenback fetched 119.49 yen, slightly up from 119.44 yen in New York.The euro was mixed at $1.1343 and 135.60 yen, compared with $1.1348 and 135.54 yen in US trade, as traders keep a close eye on tense Greek bailout talks.Gold fetched $1,183.36 against 1,189.70 late Wednesday. (AFP)                                   
 Tokyo stocks opened 0.90 percent lower Thursday, hit by declines on Wall Street and a stronger yen after poor US jobs data and a warning from the Federal Reserve chief on high equity valuations.The Nikkei 225 index at the Tokyo Stock Exchange fell 175.17 points to 19,356.46 at the start of the first trading session since Friday.The dollar was at 119.36 yen early Thursday, down from 119.44 yen in New York late Wednesday and 119.66 yen in Asia on Friday before Tokyo was shut for holidays.The euro bought $1.1344 and 135.43 yen on Thursday compared with $1.1348 and 135.54 yen in US trade.Fed chair Janet Yellen, speaking at a Washington conference, warned that "equity market valuations at this point generally are quite high".Payroll firm ADP meanwhile reported the US added just 169,000 private-sector jobs in April, the second month in a row under 200,000.The data came ahead of Friday�s highly anticipated Labor Department jobs report.The Dow Jones Industrial Average dropped 0.48 percent on Wednesday while the broad-based S&P 500 fell 0.45 percent.            
 Tokyo stocks opened 0.12 percent higher Friday as the dollar was firm on hopes for solid US jobs data later in the day while Nintendo soared seven percent on better-than expected earnings.The Nikkei 225 index at the Tokyo Stock Exchange gained 23.64 points to 19,315.63 at the start.Shares in Nintendo shot up 7.4 percent to 21,200.0 yen in the first few minutes of trade as the videogame giant announced better-than-expected full-year earnings late Thursday.The dollar stayed firm early Friday after rising on a positive US jobless claims report, buying 119.72 yen compared with 119.75 yen in New York late Thursday.A weak yen is positive for Japanese exporters as it makes them more competitive abroad and increases profits when repatriated.On Thursday, the weekly US unemployment claims report came in strongly positive, with the moving average falling to a 15-year low.Markets were geared up for the Labor Department�s jobs report Friday to gauge whether the economy is strong enough for the Federal Reserve to begin raising ultra-low interest rates.The euro slipped to $1.1249 and 134.69 yen on Friday, down from $1.1266 and 134.91 yen in US trade.The British pound jumped after exit polls suggested a surprise lead for Prime Minister David Cameron�s Conservatives.Sterling rose to $1.5425 in Asia early Friday, up from $1.5262 in New York on Thursday.            
 Finance Minister Ishaq Dar and International Monetary Fund�s (IMF) Harald Finger will hold a final round of review on policy matters on Monday under Extended Funds Facility (EFF) programme.Earlier, Pakistan and IMF completed the detailed deliberations for the 7th review under EFF in Dubai. Pakistan�s delegation was led by Finance Minister Senator Mohammad Ishaq Dar whereas the IMF team was led by Harald Finger at the talks, the Finance Ministry said in a press release here.The Finance Minister proposed that final round of discussion be held at Islamabad to which IMF authorities agreed. The details of the outcome of the talks would also be shared with the media on Monday, the ministry said.It may be mentioned that policy level talks between Pakistan and IMF started last week in Dubai where both sides discussed the 7th quarterly review under Extended Fund Facility (EFF).The successful conclusion of 7th review will enable the Fund to release next tranche of 550 million after the approval of its executive board by late June or early July. Pakistan has received 3.5 billion from the Fund in six tranches since September 4 2013 when the IMF board approved the three year extended arrangement under the EFF for about US 6.12 billion.            
 Finance Minister Senator Ishaq Dar on Monday termed deliberation between Pakistan and International Monetary Fund (IMF) for the 7th review under Extended Funds Facility (EFF) programme as successful.Pakistan�s delegation was led by Dar whereas the IMF team was led by Harald Finger at the final round of talks held in the federal capital.Speaking at a press conference here today, the finance minister said the successful conclusion of dialogue has paved the way for release of next tranche of $506 million to Pakistan by June this year. He said it is for the first time that Pakistan has reached the level of 7th review with IMF under any programme.Dar expressed confidence in achieving the fiscal deficit target of 4.9 per cent in 2015 and the next year's target has been kept at 4.3 per cent, keeping in view expenditure on Operation Zarb-e-Azb and rehabilitation of IDPs.He said all indicators have been showing an upward economic trajectory, calling it a moment of happiness for Pakistan. He said the country was on track to meet its targets for fiscal deficit by June.The minister said that foreign exchange reserves currently stand at $17.6 billion in the State Bank of Pakistan (SBP), hoping that the government would achieve the target of $18.5 billion by the Holy month of Ramadan.Inflation was recorded at 2.1pc in April this year, which he said was lowest in the last 12 years. The minster announced that the National Identity Card number would be used as the tax number from next financial year.The IMF mission chief, on the occasion, expressed satisfaction with Pakistan�s economic growth saying the next tranche under extended fund facility would be released by June.Pakistan has received 3.5 billion from the Fund in six tranches since September, 2013 when the IMF board approved the three year extended arrangement under the EFF for about US$6.12 billion.                                   
 Gwadar port started its long-awaited operations for containerised shipment services on Monday as the first private container vessel berthed at the deep sea port. The MV ZI JING SONG container vessel was the first reefer container vessel to berth since the port�s completion in 2007. With this, Gwadar Port has begun using its existing multipurpose terminal. The containerised shipment service will initially focus on export of local fish to international market. The government plans to make Gwadar, the country's largest port, fully operational by the end of the year. The port has been handling government�s seasonal cargo in the past.                                   
 Share prices witnessed a big drop at Karachi Stock Exchange (KSE) on Monday as the benchmark KSE-100 share index took a nosedive and plunged by 1023 points to peg at 32,502.According to market analysts, the capital market is witnessing a major decline in the wake of two developments. One is a notification of Securities and Exchange Commission of Pakistan (SECP) binding the consumers of security companies to submit a bi-weekly report.The second reason for the bearish spell is the suspension of gas supply to the fertilizers companies, they added.            
 The Asian Development Bank on Tuesday approved a $6 billion loan to help build up Pakistan�s dilapidated power network and other key infrastructure, Islamabad said.Among the projects to be financed by the ADB is a 660-megawatt coal-fired power plant in southern Pakistan, while funds will also be allocated for projects related to health, education and highway construction."(The ADB) agreed to finance US$6 billion for the next five years in Pakistan," an economic affairs ministry statement said, adding that the funds would help Pakistan tackle a long-running electricity crisis.Along with the 660-megawatt plant, the funds will be used for several hydroelectric dams that will each generate between 100 and 300 megawatts.Pakistan is expected to see accelerating economic growth in the coming years, with the International Monetary Fund forecasting 4.1 per cent expansion this fiscal year, followed by 4.5 per cent growth next year.Ratings agency Standard and Poor�s meanwhile has upgraded the country�s credit rating outlook from stable to positive.But electricity provision continues to be a massive problem.Pakistan faces an annual power shortfall of around 4,000 megawatts in the peak summer months of June and July when temperatures can reach 50 degrees Celsius (120 Fahrenheit) in the country�s centre.                                   
 Global oil prices rebounded sharply Tuesday on the falling greenback, which makes dollar-priced crude cheaper for buyers using stronger currencies.US benchmark West Texas Intermediate (WTI) for June delivery jumped $1.09 to $60.34 a barrel.Brent North Sea crude for June rallied $1.42 to stand at $66.33 in London midday trade."Crude oil prices rebounded strongly... supported by a softer US dollar, while investors remained cautious ahead of the release of the weekly oil inventories reports," said Sucden brokers analyst Myrto Sokou.The European single currency rose against the dollar on relief that crisis-hit Greece narrowly averted a default Tuesday that could have seen it crashing out of the euro.Athens tapped an emergency account to meet a debt repayment of 750 million euros ($845 million) due Tuesday to the International Monetary Fund.The oil market had fallen in earlier Asian deals on worries about a global oversupply after a veteran former energy minister in Qatar warned OPEC members against cutting output unilaterally. Abdullah al-Attiyah, who led the energy portfolio in oil-rich Qatar for about two decades, said Monday that OPEC should first reach a binding agreement with non-members before reducing production."OPEC should not do anything because it is not the swing producer" of the past, Attiyah told reporters in Kuwait City."They cannot and will not cut (output) unless the main producers outside OPEC join forces," he said.The 12-nation Organisation of Petroleum Exporting Countries (OPEC) in November maintained output levels despite tumbling prices. The group, led by de-facto kingpin Saudi Arabia, pumps about 30 percent of global crude.Nicholas Teo, analyst at CMC Markets in Singapore, added that concerns over a persistent global oversupply "continue to put a cap on oil prices". Those worries were compounded by the latest US data showing petroleum drilling is picking up in some areas. The closely watched Baker Hughes US oil rig count fell by just 11 to 668 last week.Dealers have been hoping that a slowdown in US shale output could help ease the build up of global crude reserves, which was a key reason for the collapse in prices of more than 50 percent between June and January. Overall crude reserves in the United States likely fell by 500,000 barrels in the week to May 8, according to a survey of analysts by Bloomberg News. The US Energy Department will release the official stockpiles figures on Wednesday. (AFP)                                   
 Oil prices inched higher Thursday as a weaker dollar and an easing supply glut offset lacklustre Chinese economic data that raised concerns about demand in the world�s top energy consuming nation. Brent North Sea crude for delivery in June gained 18 cents to stand at $66.99 a barrel in London afternoon trade.US benchmark West Texas Intermediate for June delivery inched up six cents to $60.56 compared with Wednesday�s close.The euro rallied to three-month peaks against the dollar Thursday on bright eurozone economic growth data and disappointing US numbers, aiding demand for commodities such as oil priced in the US currency.Crude futures won support also from official data Wednesday showing that crude US stockpiles dropped 2.2 million barrels last week.It was the second straight week of declines, and was much larger than the 250,000-barrel decrease expected by analysts.However, the International Energy Agency (IEA) has said this week that a global supply glut blamed for the recent plunge in oil prices remains as producers raise their output to make up for a cut in US shale production.Meanwhile, "the global demand situation for oil is considerably weaker" following this week�s poorly-received economic data out of China, according to Michael McCarthy, chief market strategist with CMC Markets in Sydney. (AFP)                                   
Zong Pakistan�s Chief Executive Liu Dianfeng  says a cut in tax rate will not only give a boost to country�s telecom sector and business volume, it will also bring positive impact on government revenue.He said this during his visit to Geo News headquarters on Thursday. The CEO said government�s cooperation could bring in more progress in the telecom sector and create opportunities for employment.He said ZONG would change people�s life style with its huge 300 million dollar investment and 4-G technology.Jang Group�s MD Yousuf Baig Mirza and others also discussed changes taking place in the telecom sector with the guest.             
 President Barack Obama Thursday called US oil production an �important� source of energy as America transitions towards cleaner resources, defending his move to allow petroleum giant Shell to drill in the Alaskan Arctic.Obama�s administration gave the petroleum giant a green light three days ago to explore the Chukchi Sea near Alaska -- as long as the Anglo-Dutch firm has the correct permits from the agencies that regulate the environment and marine mammal health.Environmental groups oppose the drilling due to the vulnerability of Arctic animals that are already struggling with melting sea ice and the risk that an oil spill would pose to the region."Despite the fact that Shell had put in an application for exploration in this region several years ago, we delayed it for a very lengthy period of time, until they could provide us with the kinds of assurances that we have not seen before," Obama said during a Thursday press conference.Shell put its drilling plans for the Alaska Arctic on hold in 2013 following multiple embarrassing problems with its two rigs.One, the Kulluk, washed ashore after breaking loose from towing vessels in stormy seas in southern Alaska in January.Another, the Noble Discoverer, was recently cited by the US Coast Guard for numerous safety and operational deficiencies.Both rigs were sent to Asia for repair and maintenance work."Shell had to go back to the drawing board, revamp its approach," Obama said."I am working internationally to reduce our carbon emissions and to replace, over time, fossil fuels with clean energies," he added."In the meantime, we are going to continue to be using fossil fuels, and when it can be done safely and appropriately, US production of oil and natural gas is important," Obama said.He added that importing oil and gas meant it might be "purchased from places that have much lower environmental standards than we do."Some Americans grew increasingly wary of drilling after the April 2010 explosion of BP-leased Deepwater Horizon in the Gulf of Mexico, which killed 11 people and spewed 4.9 million barrels of oil into the ocean.A Shell spokesman said that operations in the Chukchi Sea are scheduled to begin in the coming months.            
 The federal government will announce the annual budget for the year 2015-16 on June 5 in the National Assembly, the finance minister said on Sunday.At a meeting of top finance officials in Islamabad today, it was decided that the Economic Survey of Pakistan would be released on June 4, a day before the announcement of the federal budget.Chairing the session, Finance Minister Ishaq Dar said that recommendations of the tax reform commission will be included in the budget. He added that the budget would be prepared taken into account the public interest.Also read:  Tax Reform Commission advises autonomy for appellate forumsThe finance minister has also called a meeting of the federal Cabinet's Economic Coordination Committee (ECC) on Monday to discuss the budget and tax reform recommendations.Dar also said that he had a "positive" meeting with the Tax Advisory Council � a board comprising academics, professionals, members of chambers of commerce and industry and former government officials who offer proposals to the government for the national budget.                                   
 Chinese Prime Minister Li Keqiang headed to Brazil on Monday on a three-day visit with a promise of $50 billion in investment for creaking infrastructure as his hosts finalize preparations for next year�s Rio Olympics.Li, who was due to land late afternoon in the capital Brasilia, will hold talks Tuesday with President Dilma Rousseff, for whom the investment will be a major boon. Brazil�s economy is battling a fifth straight year of poor growth and spiraling inflation. Li will head for Rio on Tuesday evening to see some of China�s investment in the city, which Brasilia supplanted as the capital in 1960 but which will in August next year welcome South America�s first ever Olympic Games.On Thursday, Li will continue a Latin American swing designed to increase Chinese influence in the region, heading to Colombia before visiting Peru and Chile.Chinese investment in Brazil has grown exponentially over the past decade, with the Asian giant becoming Brazil�s main trading partner in 2009.Trade between China and Latin America as a whole rose some 2,550 percent between 2000 and 2012 from barely $10 billion to $255.5 billion.Boom in Sino-Brazilian tradeSino-Brazilian trade mushroomed from $6.5 billion in 2003 to $83.3 billion in 2012.Jose Graca Lima, head of Asian affairs in the Brazilian foreign ministry, said ahead of Li�s arrival that a "second generation" of Chinese investment is under way. The first involved trade in raw materials and the focus now is on heavy industry and infrastructure, he said.Graca Lima said Friday that Rousseff and Li will ink a series of accords on political and commercial issues, and some 30 investment deals. One mooted project is a proposed rail link stretching some 3,500 kilometers (2,175 miles) from the key Brazilian port of Santos to the Peruvian Pacific port of Ilo.Graca Lima said the plan would take some three to four years to realize, but he assured it is "advancing," despite some environmental groups voicing concern.The countries are also expected to announce the delivery of 22 jetliners from Brazil�s Embraer to China -- part of a larger order of 60 airplanes from the world�s number three commercial aircraft developer.Brazil has seen its reputation hit by a huge graft scandal at oil giant Petrobras. But the firm received a boost earlier this year when it signed a $3.5 billion financing deal with the China Investment Bank."China is fulfilling a desperately-needed role of investor in Latin America and the Caribbean -- Brazil desperately needs investment," says Charles Tang, chairman of the Rio-based Brazil-China Chamber of Commerce and Industry."The US back yard is growing a Chinese back garden - not just in Brazil but all over Latin America.""We believe in the fundamentals of Brazil," Tang told AFP."China sees opportunities in Brazil for investment and also has the funds available to invest" for strategic and geopolitical reasons.In an interview, Tang referred to a World Policy Institute essay he penned in 2013 in which he said "Latin America and China�s economies are complementary. Brazil ... has insufficient savings to finance increases in export production and job creation or build the infrastructure it needs."China has abundant capital -- but needs the plentiful strategic resources that Brazil has."Li�s visit will feature trade delegations some 130-strong from both countries during his Brasilia stay. In Rio, he will attend the unveiling of Chinese-made trains for a new Metro line.             
 Oil prices fell on Tuesday as a global supply glut and soft demand overshadowed the impact of geopolitical tensions in the crude-rich Middle East, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in June slid 43 cents to $59 a barrel.Brent North Sea crude for July shed 63 cents to stand at $65.64 a barrel in London afternoon deals."According to official data... Saudi Arabia exported just shy of eight million barrels of crude oil per day in March -- the highest export volume in more than nine years," said analysts at Commerzbank in a note to clients on Tuesday.Bernard Aw, market strategist at IG Markets Singapore, said "global oversupply with weak demand" continues to put a cap on prices despite geopolitical unrest raising concerns about a disruption in the Middle East.He said the crude market is already "used to" unrest in the region, where Islamic State fighters on Sunday captured the key Iraqi city of Ramadi.Yemen is also engulfed in violence that analysts fear could escalate and draw in neighbouring Saudi Arabia and Iran, which are backing the warring factions.Yemen is not a major oil-producing country, but its coast forms one side of the Bab el-Mandeb Strait, the key strategic entry point into the Red Sea through which some 4.7 million barrels of oil pass each day on ships headed to or from the Suez Canal."Fears that the fighting in Iraq and Yemen could hamper the oil supply have clearly given way to a more sober appraisal, for the past twelve months have demonstrated that such concerns are exaggerated," Commerzbank analysts added. "In actual fact, the oil supply from the region has continued to grow."Oil supplies from leading OPEC producers Saudi Arabia, Kuwait and the United Arab Emirates are already near their highest levels in three decades, the International Energy Agency (IEA) said last week. Crude futures have fought back a little in recent weeks after prices plummeted more than 60 percent between June and January, as the Organization of the Petroleum Exporting Countries refused to cut production despite a global glut.The move by the 12-nation OPEC cartel, which pumps about 30 percent of global crude, was widely taken as an attempt to push US shale producers, which have higher costs, out of the market. (AFP)                                   
 Following its approval from National Assembly, the lower house of the parliament, the upper house Senate on Wednesday also passed the Gas Infrastructure Development Cess (GIDC) bill 2015 amid protest from some opposition members.During the discussion, members of opposition parties criticized the government for presenting the bill in the house and urged that it should be presented in Council of Common Interest (CCI) for consultation with the provinces before its passage. Senator Tahir Hussain Mashhadi of MQM said that the the bill should have been presented in the CCI. He said any tax on natural resources cannot be imposed without consultation of provinces, he said.Senator Nauman Wazir and Sentor Saleem Mandviwala called for need to find a mechansim of gas infrastructure development and suggested that concerns of opposition should also be addressed.Opposition Leader Aitzaz Ahsan and Senators including Usman Saifullah, Mohsin Aziz, Shahi Syed, Saeed Ghani, Usman Kakar, Sassui Paleejo, Robina Adnan, Naseema Ehsan and Mohsin Leghari registered their opposing comments on the bill during discussion.Opposition members belonging to Muttahida Qaumi Movement (MQM), Pakistan Tehreek-e-Insaf (PTI), Awami National Party (ANP) and Balochistan National Awami Party staged a token walk out from the House.Earlier, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi in his winding up speech said National Assembly has already passed the Bill and said the government requires Rs1000 billion annually to maintain and improve gas infrastructure in the country.He said that Rs100 billion would be collated annually through this levy and it would be used for gas infrastructure and added that no province is self-sufficient in gas.He said that the production of gas is 4 BCFD and demand is 8 BCFD adding that it is very necessary to fund some important projects.He said that TAPI is Rs1 trillion project but our share is of Rs100 billion.The minister said that the collection amount of GIDC would not be misused and the parliament would oversee it.Shahid Khaqan said that the CCI itself says that the GIDC does not come into its domain and federal government should settle it. He said that Supreme Court has already decided that it is not a tax but a cess.Defending further the Cess Bill, he argued that to bridge the widening gas supply gap a number of gas import projects were being perused including the Iran-Pakistan (IP) gas pipeline project, Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project, LNG import projects and LPG supply enhancement project in public as well as private sectors.He said that in case the required infrastructure was not developed for the above mentioned projects the government would be forced to import liquefied fuels which are much costlier as compared to gas.Further Pakistan would also be exposed to payment of liquidated damages or payments. According to him presently neither the federal government nor any gas utility has adequate funding to implement the above project.To create the required infrastructure it was therefore necessary that a new Cess may be imposed.He also accepted the idea of some opposition Senators for forming a committee to point out anomalies in the bill, which would prepare its recommendations to make the bill more beneficial.The minister went on to say that it would be the current government, which has planned to provide gas to every district of Balochistan� APP/Geo News            
 Oil prices rebounded Wednesday from recent steep losses in the previous session, as traders awaited the latest snapshot of US crude inventories.US benchmark West Texas Intermediate (WTI) for delivery in July rose 59 cents to $58.58 a barrel.Brent North Sea crude for July gained 83 cents to stand at $64.85 a barrel in London early afternoon deals."Prices have bounced back a little following yesterday�s 3.0-percent drop," said analyst Fawad Razaqzada at trading site Forex.com."Speculators are exercising some caution ahead of the official supply data today."Later on Wednesday, the US government�s Department of Energy will publish its weekly inventories data for the week to May 15.The US Department of Energy is expected to report stockpiles fell by two million barrels in the week ending May 15, according to Bloomberg News. They still remain near their highest levels on record, however."Although stockpiles are expected to fall, the crude production level in the US is still on a high side and we expect it to rise further," said Daniel Ang, an investment analyst with Phillip Futures in Singapore.Both oil contracts fell sharply Tuesday on worries about the crude oversupply and as the greenback soared against other major currencies, making dollar-priced oil more expensive and denting demand.The dollar strengthened against the euro after a European Central Bank official said the bank would ramp up its asset-purchase stimulus programme in May and June to offset an expected financial market slowdown in the coming months.A robust report on US housing construction also lifted the greenback."The strengthening of the dollar... was the reason for the three percent decline in crude prices yesterday," added Ang."The subsequent rebound we see today is due to bargain-hunting and the market forces readjusting to normal trading." (AFP)                                   
 Chinese Premier Li Keqiang lifted the wraps Tuesday on a multibillion-dollar series of trade and investment deals with Brazil, as Beijing looks to invest $53 billion in South America�s largest economy.The news unveiled at the start of Li�s first official visit to Latin America is a huge boon for Brazil as it endures a fifth straight year of low growth after a period of rapid expansion fueled by Asian demand for commodities that has since slowed.Li�s host, President Dilma Rousseff, hopes Brazil can direct Chinese cash to overhaul decaying infrastructure as the country�s tourist magnet Rio de Janeiro prepares to host South America�s first ever Olympics next year.Headlining 35 deals on Li�s first official visit to Latin America were a pair of finance and cooperation agreements worth $7 billion for Brazil�s state-owned oil firm Petrobras.Rousseff, who will make a state visit next year to China, spoke of a "new intensity in our relations.""China and Brazil are playing a leading role in the construction of a new global order," she added.Rousseff, re-elected in October, has been battling a welter of negative economic data as well as fallout from a huge graft scandal at Petrobras.Li pointed to China�s "rich experience" in building infrastructure, saying Beijing "would like to cooperate with Brazil in reducing its costs."Despite a multibillion-dollar kickbacks scandal battering its reputation as Brazil�s flagship company, Petrobras had earlier this year received another Beijing boost in signing a $3.5 billion financing deal with the China Investment Bank.Despite becoming Brazil�s number one trading partner in 2009, amid an exponential rise in two-way trade, China currently ranks only 12th in terms of actual investment in Brazil, prompting Brasilia to seek deeper economic ties.The Chinese are notably supplying new metro trains and catamarans to Rio and Li will visit the Olympic host city Wednesday to inspect those investments before leaving Thursday for Colombia ahead of trips to Peru and Chile.Li�s tour, aimed at underpinning growing Chinese influence in Latin America, comes just days after Beijing signed accords worth $25 billion and $22 billion respectively with fellow BRICS developing nations Russia. But the Brazil package is worth more than those combined.- Air deals, railroad dreams -Aside from the Petrobras agreements, Rousseff and Li also signed a range of deals designed to further bilateral cooperation on trade, investment, agriculture, energy and transport.Brasilia and Beijing also finalised a $1.3 billion accord to sell 22 Brazilian Embraer commercial jets to China�s Tianjin Airlines, Embraer said.Brazil�s Vale, the world�s biggest iron producer, announced a range of deals including extended cooperation with China on maritime transport of iron ore.Among the deals, Vale said it would expand an existing accord by selling four ore carriers to China Merchants Energy Shipping Co. Ltd and also also signed a memorandum of understanding with the Industrial and Commercial Bank of China for up to $4 billion in loans and other financial arrangements.China also vowed to lift an import ban on Brazilian beef and signed onto an ambitious project to build a railway from the key southeastern Brazilian port of Santos more than 3,500 kilometers (2,200 miles) to the Peruvian Pacific port of Ilo.- Exponential growth -Bilateral trade between the BRICS developing states has mushroomed over the past decade, with the Asian giant becoming Brazil�s main trading partner in 2009.Trade between China and Latin America as a whole exploded from barely $10 billion in 2000 to $255.5 billion in 2012.Sino-Brazilian trade mushroomed from $6.5 billion in 2003 to $83.3 billion in 2012.Ahead of Li�s arrival late Monday, Jose Graca Lima, head of Asian affairs in the Brazilian foreign ministry, explained that a "second generation" of Chinese investment is underway, switching from trade in raw materials to heavy industry and infrastructure.Facilitating the movement of imports from Brazil -- and similarly that of its own exports to Latin America -- is a key Chinese aim, pushing their interest in funding the mooted $10 billion railway project through to Peru.Building the rail link would mean that "a new path to Asia will open up for Brazil, reducing distances and costs," Rousseff told reporters.            
 The price of petroleum products are expected to increase in June, industry sources have revealed to Geo News. The per litre price of diesel may rise by Rs6.20 and petrol by Rs5.80.  A staggering Rs11 increase may be seen in the price of HOBC. The reason for the price increase is the turmoil in Yemen which has led to an increase in crude oil price in the international market.             
 The National Electric Power Regulatory Authority (NEPRA) has approved Rs1.75 per unit cut in the tariff of K-Electric to provide a relief the Karachiites with effect from next month.The consumers will benefit from the cut in the tariff from the June.            
 The State Bank of Pakistan on Saturday dropped interest rate by 1 percent, bringing it to seven percent, the lowest in the country�s history.Announcing monitory policy,  State Bank Governor Ashraf Wathra told journalists that the new policy  will be applicable from May 25. .He said the cut in the interest rate would create opportunities for employment, business and investment.Applauding the announcement, business fraternity urged the State Bank to instruct commercial banks to release more loans to private sector.            
 Asian markets advanced on Monday, with Tokyo boosted by a weaker yen after the US Federal Reserve chief stuck to her plan to raise interest rates by year-end.The euro suffered further losses as Greece warned it did not have enough money to service its debts next month without the rest of its bailout cash.Tokyo closed 0.74 percent higher, adding 149.36 points to reach a 15-year high of 20,413.77, while Sydney jumped 1.00 percent, or 56.8 points, to 5,721.5.Shanghai surged 3.35 percent, or 156.20 points, to 4,813.80 as traders moved into undervalued stocks.Hong Kong and Seoul were closed for public holidays.Fed chief Janet Yellen said on Friday she expects to raise rates from historic lows "at some point this year", warning that a delay could risk overheating the economy.However, she also said there were still weaknesses, including slackness in the job market despite unemployment at 5.4 percent.Her comments came two days after minutes of the Fed�s April policy board meeting made it clear that slow growth in recent months meant it was not expecting a rise before late July.Adding to the dollar�s strength was news from the US Department of Commerce that core consumer prices -- which exclude food and energy -- jumped 0.3 percent in April from March, the largest one-month rise in more than two years.The dollar was at 121.62 yen Monday, against 121.52 yen in New York and sharply up from 120.71 in Tokyo earlier Friday."Inflation is speeding up a little in the US, and we can see the intention to raise rates sometime this year," said Shoji Hirakawa, chief equity strategist at Okasan Securities Co in Tokyo."When we consider the US versus Japan, rates will be higher in the States. Japan�s rate hikes and tapering will be further into the future."In other markets:-- Taipei was slightly higher, adding 6.37 points to 9,645.17.Taiwan Semiconductor Manufacturing Co rose 1.37 percent to Tw$147.5 while leading smartphone camera lens maker Largan Precision Co was up 0.14 percent at Tw$3,465.0.-- Wellington advanced 0.33 percent, or 18.96 points, to 5,794.98.Contact Energy surged 11.35 percent to N$6.18 after announcing a special dividend payment, while Fletcher Building gained 0.35 percent to close at NZ$8.56.-- Manila fell 0.62 percent, or 48.64 points, to 7,761.53.Universal Robina Corp slipped one percent to 199 pesos while Metropolitan Bank and Trust Co dropped 0.64 percent to 93 pesos.-- Singapore rose 0.31 percent, or 10.67 points, to 3,460.85.Singapore Telecom declined 1.40 percent to Sg$4.22 while e-commerce payments firm YuuZoo rallied 13.56 percent to Sg$0.34.-- Jakarta ended down 0.50 percent, or 26.79 points, to 5,288.36.Cement manufacturer Indocement Tunggal Prakarsa jumped 0.33 percent to 22,500 rupiah, while taxi operator Blue Bird fell 2.81 percent to 8,650 rupiah.-- Bangkok closed down 1.03 percent, or 15.70 points, to 1,508.16.Airports of Thailand dropped 2.97 percent to 294.00 baht, while supermarket operator Big C Supercenter lost 2.87 percent to 203.00 baht.-- Kuala Lumpur lost 1.13 percent, or 20.12 points, to 1,767.38.Malayan Banking fell 0.97 percent to 9.17 ringgit, Public Bank dipped 0.94 to 18.96 while property developer IGB gained 0.71 percent to 2.85 ringgit.-- Mumbai fell 1.12 percent, or 313.62 points, to 27,643.88 points.Mining major Vedanta Limited fell 3.59 percent to 200.00 rupees, while Oil & Natural Gas Corporation rose 2.12 percent 329.30 rupees. (AFP)            
 The Federal Cabinet on Tuesday approved the budget strategy paper, sources revealed to Geo News. During the cabinet meeting, Prime Minister Nawaz Sharif said tax rate had to be reduced to increase revenue. He added that people would happily pay taxes if the rate was reduced. The prime minister directed the cabinet to provide maximum relief to people in the budget, emphasising that the economic impact should reach people.             
 World oil prices rose Wednesday on bargain-hunting after sharp falls the previous day triggered by a strong US dollar and global supply glut concerns, analysts said.In early afternoon London deals, Brent North Sea crude for July added 36 cents to $64.08 per barrel, compared with Tuesday�s closing level.US benchmark West Texas Intermediate (WTI) for delivery in July won 43 cents to $58.46 a barrel.Crude futures had shed more than $1.60 on Tuesday, as markets in the United States and much of Europe reopened after a public holiday on Monday.Oil prices have been under pressure on a resurgent dollar, which has strengthened following expectations that the US Federal Reserve will follow through on plans to raise record-low interest rates later this year.The stronger greenback makes crude more expensive for buyers using weaker currencies."As the prices for crude dropped quite sharply last night, the current rebound is due to bargain hunting as traders pounce at the low prices," Nicholas Teo, market analyst at CMC Markets in Singapore, told AFP.Teo said dealers are also awaiting the latest official US stockpiles report for fresh clues about demand and production levels in the world�s top crude consumer.Crude reserves likely fell by 1.5 million barrels in the week to May 22, according to a survey by Bloomberg News.Overall US stockpiles, which stand at 482.2 million barrels, are at the highest level since 1930, according to data compiled by the US Energy Information Administration.The weekly report is normally published every Wednesday but will be issued this Thursday due to the US public holiday on Monday.Dealers have been hoping that a slowdown in US output, coupled with increased demand during the summer driving season, could whittle down the build up of global crude reserves, which was a key reason for the collapse in prices of more than 50 percent between June and January.(AFP)            
 Oil prices edged higher Friday following a mixed US petroleum report that showed a healthy decline in crude and gasoline reserves but a rise in oil production that could aggravate the global supply glut.US benchmark West Texas Intermediate (WTI) for July rose 53 cents to $58.21 and Brent crude for July gained 43 cents to $63.01 in afternoon trade.Daniel Ang, investment analyst at Phillip Futures in Singapore, said in a commentary that Thursday�s US Department of Energy petroleum report "showed a mixed sentiment as the bearish production increase was offset by a bullish inventory decrease"."As a result of this, we were seeing the bulls and the bears fighting fiercely".The report showed US commercial crude inventories fell 2.8 million barrels to 479.4 million in the week through May 22, while gasoline stockpiles fell 3.3 million barrels.But the DoE also reported a rise in US crude production last week, by 304,000 barrels per day to 9.57 million.Dealers have been hoping a slowdown in US output, and increased demand during the summer driving season, could whittle down the huge global supplies that were a key reason for the collapse in prices of more than 50 percent between June 2014 and January this year.Ang said investors are awaiting the release of the second reading of US first-quarter gross domestic product later Friday for clues about demand in the world�s biggest economy. (AFP)                                   
 OGRA has recommended an increase in the price of petroleum products for June in its summary sent to the Ministry of Petroleum. The price of petrol is expected to increase by Rs 6.19 per litre while diesel is expected to rise by Rs 7.91. According to OGRA�s recommendations the price of HOBC will increase by Rs 13.62.             
 Compressed Natural Gas (CNG) stations, expected to reopen Friday across all cities of Punjab after seven months, were still closed despite announcements by the Punjab and Islamabad governments. The petroleum ministry's negotiations between officials of Sui Northern Gas Pipelines Limited (SNGPL) and Compressed Natural Gas Association had earlier proved successful, with the associations assuring that Punjab CNG stations would reopen on Friday. But CNG stations were yet to reopen in the provincial capital Lahore, with sources saying the delay in reopening of stations related to a dispute over clearing of dues. The SNGPL had allowed station owners to reopen their businesses following advance payment after the gap of almost seven months.According to sources, the SNGPL has informed station owners to submit Rs 1.2 million as security deposit and has resumed supply of gas to stations whose owners have paid the security amount. A similar situation was witness in the federal capital Islamabad at the time of filing of this report. The CNG association says the matter would be resolved and CNG stations reopened by Friday evening.                                   
 The National Economic Council (NEC) at its meeting in Islamabad on Monday approved development outlay of 1.514 trillion rupees and fixed a GDP growth rate of 5.5 percent for the next financial year.      The meeting was chaired by Prime Minister Nawaz Sharif.    The development outlay includes 700 billion rupees as federal PSDP and 814 billion rupees as provincial Annual Development Program (ADP).    Growth target for the next financial year for agriculture sector has been set at 3.9 percent and for manufacturing sector 6.1 percent.        Export target for the year has been set as 25.5 billion dollars.            
 Sindh will present Rs700 billion budget for fiscal year 2015-16 on June 12, according to sources at provincial finance department.The sources told Geo News that Rs160 billion would be allocated for provincial development program in the upcoming budget, showing a decline of 10 percent compared to the previous fiscal.Out of the development budget, 80 percent will be earmarked for the ongoing schemes while 20 percent will be allocated for the new ones.The budget would set aside Rs65 billion for law and order whereas 10,000 new inductions will be made in the police department.Any raise in the salaries and perks of government employees will be in line with the federal budget�s announcement.The provincial government will earmark Rs2.5 billion for K-IV water supply project and Rs2 billion for water sewerage project S-III.The development budget will envisage an allocation of Rs3 billion for Orange Line Bus Service.            
 The National Electric Power Regulatory Authority (NEPRA) has approved a Rs 2.80 decrease in the per unit price of electricity. The decrease was made under the monthly fuel adjustment for the month of May. Apart from K-Electric, relief will be offered to consumers across the country.              
 Prime Minister Nawaz Sharif chaired a high-level meeting in Islamabad on Wednesday to review power and petroleum supply situation during summer months especially during Ramazan.The PM directed that all out efforts should be made to ensure smooth supply of petroleum products in all parts of the country particularly during the holy month of Ramazan.He also directed the Ministry of Water and Power that during Ramazan load-shedding should not exceed the specified limit of six hours in urban and eight hours in rural areas, with no load-shedding allowed at Sehr and Iftar time.            
 Pakistan has missed its economic growth target for the current fiscal year but per capita income rose significantly, giving hopes for ambitious GDP growth in the coming year.Finance Minister Ishaq Dar on Thursday launched the country�s "Economic Survey" for the outgoing year 2014-15, that reviews all the aspects of Pakistan�s economy for the fiscal year ending June 30.Pakistan had set its growth target at 5.1 per cent on the assumption of higher agricultural production, improvement in energy supplies and better investment prospects.However, with the key economic sectors missing their targets, GDP growth has been revised to 4.24 per cent."According to provisional estimates the GDP growth during 2014-15 remained at 4.24 per cent," the minister, reading the survey, said at a televised press conference.However, growth was higher than the 4.03 per cent posted in the previous fiscal year, he said.The agriculture sector grew at 2.9 per cent compared to the target of 3.3 per cent, industry grew 3.6 per cent against a target of 6.8 per cent, and the services sector grew at 5.0 per cent, just short of the 5.2 per cent target.The financial wizards, however, were enthralled with the sharp growth in per capita income that rose by 9.25 per cent to $1,512 during the fiscal year."The main contributing factors of this rapid increase in per capita income include acceleration in real GDP growth, relatively lower growth in population and the consistent Pakistani rupee," Dar said.Pakistan was also able to significantly cut its current account deficit to 0.6 per cent of GDP from 1.3 per cent last year for the first 10 months of the current fiscal.The financial year saw significant achievements as interest rates were curtailed to seven per cent, a 42-year low on the back of historic 4.8 percent inflation.Prime Minister Nawaz Sharif�s government vowed to revive the Pakistani economy after he took over power in May 2013.International credit rating agencies have upgraded Pakistan�s ratings.The Sharif government is scheduled to table the national budget for the year 2015-16 in parliament on Friday.                                   
 The economic growth this year for Pakistan was 4.2 percent while the target was 5.1 percent, according to a copy of the Economic Survey for 2014-15 received by Geo News on Thursday.The report goes on to say that floods, dharnas (rallies, sit-ins, protests), and law and order situation affected the growth rate.Agricultural development was at 2.9 percent for the fiscal year 2014/15, as compared to the set target of 3.3 percent.Finance Minister Ishaq Dar will release the Economic Survey for the outgoing fiscal year 2014-15 later today.The Economic Survey is an important document which highlights performance of different sectors of the economy.The Survey covers development of all the important sectors of economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities.              
 Finance Minister Ishaq Dar presented the Federal Budget 2015-16 in the National Assembly on Friday, eyeing an ambitious economic growth target of 5.5 percent.Prime Minister Nawaz Sharif arrived in the National Assembly for the special budget session in which Finance Minister Ishaq Dar presented budgetary proposals finalised in a meeting of the federal cabinet chaired by the premier. A growth and development oriented Federal Budget with a total outlay of Rs 4.313 trillion for the next financial year with special focus on attracting investment and providing relief to the common man was announced.Dar said despite critical challenges faced by the government during the last two years, it has been successful to turn around the economy which is now on a positive trajectory.Budget Speech-Geo Reports-05 Jun 2015 by GeoNewsHe said the government has been successful to steer the country out of economic crisis being faced for the last many years and now it is stable and can meet any future challenge.The Finance Minister said the government did not hesitate to take difficult decisions to bring back the economy on track and implemented on the policy given by the PM in this regard with all sincerity and good intentions.He said the government devised a three point strategy in 2013 to revamp the economy which included saving the country from default, gaining macro-economic stability and in the third stage creating more opportunities for employment and reducing poverty.Dar said today the economy is stable and heading towards sustainability. He said it is the result of the policies of the PM that inflation level has come down at an eight-year low of six percent. He said foreign exchange reserves have surged to 17 billion dollars which will further grow to 19 billion dollars during the next financial year. He said the Karachi Stock Exchange which was 19,916 points has crossed the level of 34000 points which shows 70 percent increase in the stock market business with similar increase in market capitalisation.The minister said fiscal deficit which was five percent during the outgoing financial year will be brought down to 4.3 percent in the next financial year. He said this achievement was made through increase in revenue collection and decrease in expenditures.GDP Growth RateUnder the framework, the target for GDP growth rate for the next fiscal year has been kept at 5.5 percent which would be taken to seven percent by 2017-18.Inflation would be kept to single digit, investment to GDP ratio at 21 percent, fiscal deficit 3.5 percent and tax to GDP ratio 13 percent.He said foreign exchange reserves would be maintained at the minimum of 21 billion dollars.The Finance Minister said GDP growth of 5.5 percent for the next year will be achieved through 3.9 percent growth target for agriculture, 6.4 percent for industries and 5.7 percent for services.Infrastructure ProjectsOn the infrastructure projects, Dar said Lahore-Karachi motorway is the priority of the government which will change the destiny of the nation. He said this project will generate many job opportunities. He said amount is also being allocated for the construction of Abdul Hakeem Multan section, Sukkur-Multan and Karachi- Hyderabad sections of the motorway.Dar said 185 billion rupees have been allocated for the construction of bridges.He said China-Pakistan Economic Corridor (CPEC) project which will prove to be a game changer is a priority of the government and for this purpose work on Raikot-Islamabad road will be launched during the next fiscal year. For this purpose 29 billion rupees are being allocated. Similarly, 10 billion rupees are being allocated for construction of Islamabad-D. I. Khan Road.About the revival of Pakistan Railways, the minister said a comprehensive plan has been devised in this regard which include dualisation of railway tracks from Raiwind to Khanewal and Shaddra to Lala Musa. He said rehabilitation of Karachi-Khanpur track will be completed during the next fiscal year. He said 159 weak railway bridges will be rehabilitated by 2017. He said 170 new locomotives will be inducted into the system besides repairing 100 locomotives and purchasing of 1500 new passenger coaches. He said a program is also being launched to renovate railway stations throughout the country besides improving signaling system between Lodhran and Kotri.Public Sector Development ProgrammeThe Finance Minister also announced Public Sector Development Programme (PSDP) amounting to over 1513 billion rupees.Out of this, 700 billion rupees have been earmarked for the development projects to be carried by the federal government while 814 billion rupees will be disbursed amongst the federating units for their development programs.    Dar said 184 billion rupees are being allocated for the construction of highways while 72 billion rupees are being earmarked for the power related projects.The minister said 62 billion rupees are being allocated for China-Pakistan Economic Corridor (CPEC) Project. In the first phase, western alignment of the corridor will be completed on priority so that economic benefits reach the people.He said the government plans to initiate new programmes to improve productivity in industrial and agricultural sectors and achieve food security and enhance exports.Dar said special emphasis will also be laid on the construction of motorways including Gojra-Multan, Sukkur-Hyderabad and Sukkur -Multan sections.             Under the development program, 20 billion rupees are being earmarked for the promotion of higher education and 20 billion rupees for health sector projects. He said it has also been decided to launch Prime Minister's health insurance scheme during the next financial year.   Dar said heavy investment is being made on the development projects in the water sector to ensure maximum water conservation for irrigation and power generation purpose.He said Diamer Bhasha dam is most significant in this regard which is very important for the future of Pakistan. He said this dam will have the capacity of 4.7 million acre feet water reservoir besides generation 4500 megawatts of cheap electricity. He said 15 billion rupees are being allocated for the procurement of land for the dam while six billion rupees have been earmarked for construction of first phase of this dam.He said special attention is also being laid on ensuring provision of water in Balochistan province. For this purpose, delay action dams, flood dispersal structures, canals and small dams will be constructed in the province which will be completed during the next two years. He said work on Basool Dam in Gwadar will be launched during the next fiscal year.He said similarly attention will be laid on the completion of ongoing irrigation projects including Raini Canal, right bank outfall drain and Darwat dam.He said work on Makhi Farash canal will be launched during the next fiscal year. In Punjab, he said work will be launched on Ghabbi Dam in Chakwal and Nala Dek in Sialkot.Dar said work on Kurram Tungi dam in North Waziristan and Gomal Zam Dam in South Waziristan will be continued with an objective to complete them at the earliest.Funds for Higher EducationComing to the education sector, the minister said the government believes in the promotion of education and ensures raising its standard. For this purpose, 20 billion rupees are being allocated for 143 projects of higher education commission besides allocating 51 billion rupees for the Higher Education Commission for current expenditures.Dar said the federal government stands by its commitment to increase expenditures on education sector equal to four percent of GDP during its tenure. However, he said after the 18th amendment, major portion of the education has gone to the provinces and both federal and the provincial governments will have to take visible steps to achieve their targets.ExpendituresDar said estimate for the current expenditures during the next fiscal year is 3128 billion rupees while the revised estimates for the outgoing fiscal year are 3151 billion rupees. He said the figure shows that the current expenditures are being reduced gradually.He said defence budget is being increased by 11 percent as 780 billion rupees have been allocated for the next financial year.      The minister said the nation has rendered matchless sacrifices in the war on terrorism. He said the armed forces are engaged to flush out terrorists through the ongoing Operation Zarb-e-Azb.He said 100 billion rupees are being allocated in the next budget for future security arrangements and return of TDPs of North Waziristan.TaxDar presenting new tax proposals said the country needs ample financial resources to ensure socio economic development and betterment of the people. He said the government considers significant increase in the taxes to ensure sustainable economic development of the country.    He said all-out effort has been made to save the poor segments of the society from imposing new taxes and measures will be taken to bring the rich segments of the society in the tax net.     He said measures will be taken to broaden the tax base and reduce the slabs and duty on custom tariff during the next fiscal year.    The minister said that to discourage undocumented economy, it has been decided that 0.6 per cent withholding tax may would be imposed on the fund transfers and banking instruments. However, the tax payers who file their returns will be exempted from this tax.     He said tax rate on dividend is being increased from 10 to 12.5 per cent. However, the tax rate on mutual funds will remain 10 per cent.He said that 10 per cent advance income tax which was being received on the bills more than 100,000 rupees will now be imposed on the bills up to 75,000 rupees due to decrease in power tariff.     Dar said it is proposed that one time tax on rich persons and companies which have the income of more than 500 million rupees per annum at a rate of four per cent to ensure raising of funds for TDPs which is estimated up to 80 billion rupees.Tax ReliefThe minister also announced several tax relief measures to promote corporate culture and documentation of the economy.Under the policy, the rate of tax on companies which was 33 percent this year is being brought down to 32 percent for the next financial year.Profit on transmission line projects is being exempted from income tax for 10 years to incentivise the private sector to invest in electricity transmission projects. The facility would be available to all those projects that would be launched by June 2018.He said presently salaried taxpayers with taxable income between 400,000 and 500,000 rupees pay five per cent tax. This rate is being reduced to two per cent to provide relief to this segment of salaried taxpayers. The rate for non-salaried individuals and association of persons of the same category would be seven per cent as against 10 per cent during current financial year.Sales TaxDar said the rate of Federal Excise Duty (FED) on cigarettes is proposed to be increased from the existing 58 percent to 63 percent to discourage smoking. Sales tax on import of different varieties of mobile phones is proposed to be increased by 100 per cent.He said exemptions worth 120 billion rupees given under different SROs in the realms of customs, sales tax and income tax are being withdrawn.He announced that the power of Federal Board of Revenue (FBR) to issue SROs is being withdrawn and now this power would be used by the federal government in special circumstances.The minister announced a package of incentives for construction sector. Bricks and crush is being exempted from sales tax for three years up to 30th of June 2018 so as to bring down the cost of construction.Increase in Pay, Pension and Allowances Dar announced a grant of 7.5 percent ad-hoc relief allowance in the pay and pensions of government employees from 1st of next month. He said as per recommendations of the Committee formed by the government for the purpose, adhoc increases of 2011 and 2012 are to be merged with pay scales.All government employees would get 25 percent increase in their medical allowance. A pre-mature increment would be given to employees in grade five. Last year premature increment was given from grade one to four. The minister said from 1st of next month all federal government employees with PhD or D.Sc would get an allowance of 10,000 rupees per month.  This would replace the existing Science and Technology allowance of 7500 and PhD allowance of 2250 rupees.Senior Private Secretary, Private Secretaries and Assistance Private Secretaries would get 100 percent increase in their special pay.Orderly allowance and special additional pension is also being increased to 12,000 rupees per month.On the analogy of government employees, minimum wages for labourers are also being increased from the existing 12,000 to 13,000 rupees per month.Dar said there would be 25 percent increase in the medical allowance of pensioners.He announced resumption of the policy for revival of surrendered portion of commuted value of the pension. The Finance Minister said the government would bear an additional expenditure of 46 billion rupees on increase in pay, pension and allowances.He said the government has also decided to own loans upto one million rupees and its markup payable by widow of a Shaheed by 30th of June this year. He said the PM has decided that federal and Balochistan governments will together pay compensations worth 3.5 billion rupees to the affectees of Mirani dam.Incentives to boost Construction Sector Dar said various incentives are being announced in the budget to give boost to the construction sector.  He said incentives will also be given to the industrialists so that they could provide more employment opportunities. He said under the green field industrial package of the PM, tax exemption is being extended up to 30th June 2017. Similarly, he said exemption in sales tax and custom duty on the import of solar panels is being extended up to 30th June 2016.     He said exemption in income tax on the equipment being used for the production of solar and wind energy plants are also being extended for the next five years.        Dar said the companies in the business of Halal meat will be exempted from income tax for four years.      The minister said various tax rebates and exemptions are being announced in the budget for the promotion of fish business, import of agriculture machinery and equipments and production of these equipments besides installation of solar tube wells.He said to facilitate the people of far flung and under developed areas, exemption of FED and withholding tax is being given in the civil aviation sector.    Dar said the government has decided to provide various incentives and tax exemptions in Khyber Pakhtunkhwa to flourish business and industries to overcome the losses incurred due to terrorism and extremism.  Incentives to Exporters The minister announced various steps to give incentives to exporters for giving a boost to the exports in the coming years.He said special incentives will be given in various sectors of exports, including product diversification, value addition, trade facilitation, enhanced market access and institutional strengthening.For this purpose, six billion rupees are being allocated in the budget besides taking steps for reconstitution of export development fund.He said significant measures will be taken to enhance textile exports of the country.Coming to agriculture sector, the Dar said with the approval of the PM, it has been decided to issue interest free loans for the installation of solar tubewells and convert the existing tubewells to solar ones.The minister said the government is focusing on expanding the volume of small agriculture loans for the benefit of growers and loans worth 600 billion rupees will be disbursed during the next financial year.Energy SectorDar said the government has prioritised the energy sector and has launched several projects in this regard. He said work is in progress to add 7000 megawatts to the national grid besides another 3600 megawatts through LNG based power plants by December 2017. He said in addition projects like Dasu, Diamer Bhasha Dam and Karachi nuclear power plants are also being executed to  address the energy crisis.The minister said 248 billion rupees are being allocated for energy sector with an objective to generate additional cheap electricity and overcome load shedding by 2017.He said work on on-going projects will be expedited during the current fiscal year and a huge amount has been allocated for this purpose.He said work on various projects for the small dams and link canals will not only continue during the next fiscal year but it will be expedited in all the four provinces. Similarly he said the projects to overcome wastage of flood water will also be continued with focus to complete them in the shortest possible time.BISPThe Finance Minister said under the Benazir Income Support Program (BISP) allocations are being enhanced up to 102 billion rupees which will cater to 31 million people of 5.3 million deserving families. He said similarly budget of Bait-ul-Mal is being doubled from two to four billion rupees.PM's Health Insurance SchemeDar announced to launch Prime Minister's Health Insurance Scheme at a cost of nine billion rupees to provide insurance to the patients suffering from serious and contagious diseases.He said initially the scheme is being launched in 23 districts, which will be expanded during the next three years to facilitate 60 percent poorest segments of society.       He said under this scheme, secondary medical coverage will also be provided in the tribal areas, Islamabad, Gilgit Baltistan and Azad Kashmir.PM Youth Business Loan SchemeHe said under the PM Youth Business Loan Scheme, 15,000 loan applications have been approved while 20,000 applications are under consideration. He said under this scheme, rate of markup is being reduced from eight to six percent in the next fiscal year.      Dar announced to provide internships to 50,000 unemployed graduates having education of 16 years during the next fiscal year.He said under this scheme, 12,000 rupees will be given as stipend to the internees. He said under the PM laptop scheme, 70,000 laptops have been disbursed among the outstanding students, which will continue in the next fiscal year. He said for all these schemes, 20 billion rupees are being allocated.Telecom SectorHe said under a �Universal Tele-centers� program 12 billion rupees are being allocated to set up 217 tele-centers all over the country in the first phase. Work is underway to connect 128 tehsils of the country especially under developed areas with fiber optic. Another program in telecommunication sector is being launched at a cost of 3.6 billion rupees which will connect rural areas with the rest of the country.Medium Term Macro-Economic FrameworkThe Finance Minister also announced a three year medium term macro-economic framework spanning over the financial year 2015-16 to 2017-18.                                   
Minister for Finance and Revenue Ishaq Dar Saturday said no new tax has been imposed on high speed diesel and furnace oil rather it has been rationalized.In a post budget press conference the Minister Ishaq Dar said it was poor friendly budget in which  prices of electricity, milk, ghee and wheat were not increased. He said that the government has not withdrawn subsidy on wheat for Gilgit Baltistan (GB).He said taxes were imposed only on rich.� Benazir Income Support Program, Baitul Maal and Youth Loan Scheme all these schemes in the budget are meant for poor ,� he added.He clarified that the subsidy of Rs. 6.05 billion for GB on wheat would remain intact and the provision to this effect has been provided in the budget 2015-16.            
 Oil prices fell in Asia Monday after OPEC decided to maintain its high output levels, while traders were also weighing the possible return of Iranian supplies that have been curtailed by international sanctions against Tehran, analysts said. US benchmark West Texas Intermediate for July delivery fell 59 cents to $58.54 while Brent crude for July eased 56 cents to $62.75 in mid-morning trade. Analysts said investors were mulling the long-term impact on prices after the 12-nation Organisation of the Petroleum Exporting Countries (OPEC) on Friday defied calls to cut output to alleviate a global supply glut that has seen prices slump almost 50 percent over the past year. Instead, they kept their collective target at 30 million barrels per day -- where it has stood for more than three and a half years.OPEC countries are reported to be actually pumping more than 31 million barrels a day, with the risk of more coming on line.Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy firm EY, said prices are "likely to remain volatile" ahead of a June 30 deadline for Iran and world powers to come to an agreement on curbing Tehran�s nuclear programme.  Six global powers -- Britain, China, France, Germany, Russia and the United States -- are trying to nail down a deal to curb Iran�s nuclear ambitions by reducing its stockpiles of enriched uranium and mothballing some of its sites.If the agreement is reached and implemented, the powers have agreed to gradually scale back sanctions imposed since 2012, including on its petroleum industry. Iran has the world�s fourth-largest oil reserves but its exports have fallen from more than 2.2 million barrels per day in 2011 to about 1.3 million because of the sanctions. "Any likelihood of a deal could act as a trigger for downward movement of crude prices," said Gupta. (AFP)            
 Foreigners working in the energy-rich Arab states of the Gulf sent more than $100 billion in remittances to their home countries last year, an economic report showed Tuesday.The figure was twice as high as remittances in 2010, an indication of strong growth, the head of economic research at Kuwait Financial Center (Markaz), Raghu Mandagoathur, said in the report.Around 25 million expats live in the Gulf Cooperation Council states -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- equal to the native population.The remittances are estimated at 6.2 percent of the combined GDP of the six GCC states of $1.6 trillion, the report said, citing IMF and World Bank figures.In comparison, foreigners in the United States and Britain sent home just 0.7 percent and 0.8 percent of GDP, respectively, it said.Saudi Arabia topped the list with its estimated 10 million expats sending home $44 billion, followed by UAE with 29 billion.Remittances from Kuwait and Qatar were $12 billion and $9.5 billion, respectively, while smaller transfers were made out of Oman and Bahrain, the report said.The majority of Gulf expatriates originate from India, Egypt, the Philippines, Bangladesh and Pakistan, as well as Indonesia, Sri Lanka and Yemen.The report attributed the high level of remittances to curbs applied by GCC states on foreign ownership and investment.And unlike in Western countries, foreigners have no hope of acquiring citizenship in GCC states regardless of the duration of residence.The report advised GCC states to encourage expatriates to invest by launching specialised services and opening up their markets to foreign residents, especially the real estate sector.                                   
 Moody's Investor Service has upgraded Pakistan�s sovereign credit rating by a notch, from Caa1 to B3, Finance Minister Ishaq Dar announced on Thursday in the National Assembly.According to Dar, Moody's had downgraded the country�s credit rating to Caa1 on July 13, 2012.The outlook for the rating back then was negative. A sovereign with a Caa rating is judged to be of poor standing and subject to very high credit risk.Weak government finances, structural inflationary pressures and domestic political uncertainties were adding to Pakistan's external vulnerabilities and debt sustainability, thereby compounding the downward pressure on sovereign creditworthiness, Moody�s said.Moody's also said the downgrade was also prompted by an upcoming repayment of $7.5 billion to the International Monetary Fund.            
 The Punjab government on Friday presented a Rs 1,447.2 billion proposed annual budget for the fiscal year 2015-16 before the provincial Assembly on Friday.This is eighth consecutive budget of the Pakistan Muslim League-Nawaz (PML-N)'s provincial government. Recently-appointed Punjab Finance Minister Dr Ayesha Ghaus Pasha presented the budget during the session chaired by Speaker Rana Iqbal Khan. According to details of the budget read out by the provincial finance minister, the provincial government is eyeing a revenue target of Rs160bn from provincial taxes and other sources. Among the major head included in the budget statement, the government has allocated Rs 400 billion for development works � a Rs 55bn increase from last year � and Rs 733 billion for non-developmental expenditure.The government has proposed a 7.5 percent increase in salaries and pensions of Punjab government employees, while it has set the proposed minimum wage of private sector workers to Rs 13,000.Among major allocation heads, the finance minster said the provincial government has set aside Rs 310bn � or 27 percent of the total budget � for education.Other allocations included Rs 166bn for health, Rs 117bn for rural development, Rs 105bn for expenditure on construction of roads and bridges, and Rs 87bn for the provincial police department.Separately, the Punjab government is proposing Rs 31bn to end the power crisis, and Rs 17bn to develop the Multan metro bus project. The Punjab government has also allocated Rs 2bn for the development of a cardiac hospital and education in Balochistan province. Earlier, the Punjab cabinet approved the budget proposals for the next fiscal year at a meeting chaired by Chief Minister Shahbaz Sharif in Lahore.The chief minister said the government has allocated ample funds in the budget for development of all areas of the province. He said focus has been laid on health, education, energy, clean drinking water and construction of roads in rural areas.                                   
 Tokyo stocks opened up 0.24 percent on Friday, aided by a lower yen and higher New York shares following a solid US retail sales report.The Nikkei 225 index at the Tokyo Stock Exchange added 48.81 points to 20,431.78 at the start.The Dow Jones Industrial Average advanced 0.22 percent after a stronger-than-expected US retail sales report suggested American consumers are gaining confidence after a sluggish first quarter.The dollar held up early Friday, buying 123.58 yen against 123.45 yen in New York late Thursday.A lower yen is positive for Japanese exporters as it increases profits when repatriated.The euro drifted lower to $1.1244 and 138.93 yen from $1.1260 and 139.00 yen in US trade as investors fretted over troubled Greek negotiations with official creditors.            
 Sindh Finance Minister Murad Ali Shah presented the Rs739 billion budget in the provincial assembly here on Saturday.During the budget presentation speech of the finance minister, opposition members chanted �shame shame� in the Sindh Assembly. The budget allocates Rs214 billion to development which is equal to 29 per cent of total expenditure. It has also been announced that 14,224 new jobs will be created.  Rs 144.67 billion have been allocated for education and Rs 57 billion for health. The provincial finance minister also stated in the speech that last year the centre had provided Rs 22 billion to Sindh while this year that figure was Rs10 billion. Following are the salient features of Sindh government�s budget for the fiscal year 2015-16:Receipts of the provinceThe total receipts of province for financial year 2015-16 are estimated at Rs726.57 billion as against budget estimate of Rs672 billion for the current fiscal year showing overall increase of 8.1 per cent.Receipts from Federal Government on account of revenue assignment straight transfers and grants are estimated at Rs494 billion which constitute 68pc of total receipts of the province. It is an increase of 4.2 per cent against the estimated amount of Rs474 billion last year.Straight transfers for next fiscal year have decreased substantially by 25.6pc to Rs61 billion from the budget estimates of Rs82 billion of the current fiscal year.The receipts from federal public sector development programme (PSDP) are estimated at Rs9.6 billion showing significant decrease of 57pc over the budget estimates of Rs22.47 billion in the current fiscal year 2014-15.The receipts on account of foreign project assistance (FPA) budgetary support loans and grants are estimated at Rs47.473 billion. The receipts from provincial own sources on account of tax and non tax receipts are estimated at Rs144 billion which constitute 19.7pc of total receipts. This is an increase of 15.2 per cent over estimates of Rs125 billion of the current fiscal year.The receipts from repayment of loans and borrowings are estimated at Rs11.489 billion�APP/Geo News            
 Provincial Finance Minister Murad Ali Shah has stated that tax rate in Sindh is the lowest among all the other provinces.Addressing post budget press conference here Sunday, Murad Ali Shah said tax on services is also very low as compared to other units of the federation.To facilitate the masses, tax rate in some new sectors has been decreased from 15 to 14 per cent, said Murad Ali Shah.Making it clear, the finance minister said 70pc budget funds come from the federation. He claimed that Sindh police salaries were high as compared to that of Punjab police.                                   
 Khyber Pakhtunkhwa Finance Minister Muzafar Said presented a Rs 488 billion provincial budget for the year 2015-16 on Monday, as opposition members staged a walk-out from the assembly session in protest.Opposition members chanted slogans against the KP government in the assembly hall while the provincial finance minister was giving his budget speech before they walked out of the assembly in protest. According to details read out by the finance minister, the budget does not include any new taxes but changes have been made to rates of existing taxes. The KP government has given 10 percent ad hoc relief in salaries for provincial government employees, while their medical allowances have been increased by 25 percent. The government has also recommended up-gradation of government employees in the budget proposals.The provincial government has set aside Rs 25bn for district governments formed after the recently held local bodies' elections in the province.The KP government has proposed Rs175bn for the annual development programme, with 1500 ongoing projects and new proposed projects. The development programme also includes Rs33bn in foreign aid.For education, the provincial government is proposing to set aside over Rs21bn. A 19 percent increase is being proposed for health expenditure over last year's allocation, coming to a total of approximately Rs12.31bn. Rs1.21bn is also being allocated for 53 projects relating to tourism and sports, while Rs3.20bn is proposed for 39 projects relating to power and electricity.According to other details, the allocation for the police department will see a 15 percent increase, social development will increase by 23 percent, and 11 percent increase in allocation for environment, 12 percent rise in funds for technical education, and a 12 percent increase in budgetary allocation for agriculture.                                   
 Federal Minister for Water and Power Khawaja Asif has welcomed the US Company, American Ethane for showing its deep interest in setting up three gas-based power plants, producing 2,000MW each, in Pakistan. Speaking to a delegation of American Ethane, led by, Prime Minister�s Special Envoy for Overseas Investment Ambassador Javed Malik, here on Tuesday, Asif said that the new power policy and power generation policies have been improved to facilitate the investment in the energy sector. �After the introduction of revolutionary reforms in power policy the private sector can now establish their own transmission line,� said the minister. �The government of Pakistan will purchase it,� he added.  Khawaja Asif said that a large number of private sector energy projects are already at different stages in the China Pakistan Economic Corridor (CPEC).He said that keeping in view the number of projects that are planned in the energy sector overall, economic activities were also gearing up and the country�s economic indicators were improving fast.The minister assured the American delegation that all facilities will be extended to them by his ministry and its institutions. He said that special instructions have already been passed by the ministry to the Private Power infrastructure Board in this regard. The water & power minister lauded Ambassador Javed Malik for his efforts in bringing in valuable investment in the country. He said that Ambassador Malik�s services were known to all Pakistanis living abroad and he was an important link between their homeland and the country of their work. Secretary Ministry of Water and Power Mohammad Younus Dagha briefed the delegation about the features of the new power policy and assured them that an all out support will be extended to the company. Other members of the delegation included John Teter, Michael Hood, Walter Teter and Alex Domakhin.                                   
 Broadband penetration in the country has reached 8.34 per cent as of March 2015 as compared to 1.95 per cent at end of corresponding period last year.  This enormous jump in broadband penetration can be attributed to Next Generation Mobile Services (NGMS) spectrum auction as mobile broadband leads the way in total broadband subscriber base.  As evident from the figure an immediate spike in broadband penetration can be observed in quarter after commercial launch of NGMS in the country. It is expected that mobile broadband will continue to form major chunk of broadband market and may also prove to be a catalyst for other broadband technologies to prosper in future. Official sources on Tuesday said Pakistan Telecommunication Authority (PTA) conducts nationwide broadband Quality of Service (QoS) survey in metropolitan cities and performance of different packages offered by operators was measured in different times.  During the survey three months data of non technical parameters i.e. response time of assistance service billing and service provisioning complaint resolution time were also analysed. The survey results analysis revealed that by and large QoS performance of broadband service providers can be rated as good.                                   
 The State Bank of Pakistan on Tuesday fixed Nisab for the deduction of zakat from bank accounts at the start of holy month of Ramazan. According to a SBP announcement, Nisab has been set at Rs33,641. The SBP said that 2.5 percent Nisab-i-Zakat  would be deducted from savings accounts holding Rs33,641 or more. Deduction of Nisab-i-Zakat  will be only applicable to savings accounts and will not apply to current accounts.Nisab-i-Zakat will be deducted on the first day of Ramazan, which would fall either on Thursday (June 18) or Friday (June 19), depending on sighting of the moon.Nisab-i-Zakat for the previous year had been fixed at Rs38,810.                                   
 The Balochistan budget for 2015/16 with a total outlay of Rs 243 billion was presented in the provincial assembly in Quetta on Wednesday.   Presenting the budget, Adviser to the Chief Minister Balochistan on Finance Mir Khalid Langau said the deficit of the budget was estimated at Rs 26 billion.He said Rs 189 billion have been allocated for non-development expenditures, while Rs 54 billion have been earmarked for development projects.Rs 3.8 billion have been allocated for the education sector, over Rs 6 billion for agriculture, and Rs 2.6 billion have been set aside for the law and order situation in the province.Giving more details of the budget, the advisor said 1741 new posts would be created in the education sector.He said the provincial government has decided to increase salaries and pension of government employees by 7.5 percent.The adviser said Rs 14.33 billion will be spent on energy sector, over Rs 1.11 billion have been set aside for generation of commerce and industries in the province.He went on to say that about 5000 vacancies will be generated in the new budget.He further said that a new Gwadar International Airport would be constructed with the help of the federal government.The PhD allowance has been increased from Rs 7000 to Rs 10,000 while M. Phil allowance has been increase from Rs 750 to Rs 5000.Langau also said that Rs 1.3 billion were distributed among the families of those who were affected by terrorism in the province.Moreover, compensation amount to the heirs of martyred personnel of forces and other government employees has also been increased from Rs 2 million to Rs 4 million and the maximum to Rs 50 million.            
 Pakistan International Airlines (PIA) has slashed fares for domestic travel during the holy month of Ramazan. The national flag carrier will reduce fares by 20 per cent during the hold month for passengers travelling on economy, economy plus and business classes. Passengers can purchase tickets at the reduced fares from 19 June till 14 July.             
 Asian markets mostly headed lower Thursday and the dollar retreated after the Federal Reserve said any rises in US interest rates would be slow.The losses come despite another advance on Wall Street, while investors are keeping track of Greece�s troubled bailout talks as Europe�s leaders are warned of the dire consequences of failing to reach a deal.Tokyo sank 1.13 percent, or 228.45 points, to close at 19,990.82, while Hong Kong shed 0.22 percent, or 59.13 points, to close at 26,694.66.Shanghai tumbled 3.67 percent, or 182.54 points, to 4,785.35 on liquidity fears as several new firms prepare to list while profit-takers also moved in after a surge in the index over the past year that has seen it pile on about 140 percent.Sydney fell 1.26 percent, or 70.5 points, to close at 5,524.9 but Seoul ended 0.34 percent higher, adding 7.02 points to 2,041.88.After a two-day meeting the Fed on Wednesday held off hiking rates but altered its outlook for future rises, expecting a lower upward curve than previously forecast.Afterwards, Fed boss Janet Yellen said its first interest rate hike in nine years would likely come "later this year".However, she added: "My colleagues and I would like to see more decisive evidence that a moderate pace of economic growth will be sustained, so the conditions in the labour market will continue to improve and inflation will move back to two percent."The prospect of lower borrowing costs boosted US shares. The Dow rose 0.17 percent, the S&P 500 gained 0.19 percent and the Nasdaq put on 0.18 percent."Yellen was dovish in the press conference," David Buckle, London-based head of quantitative research at Fidelity Worldwide Investment, told Bloomberg News."She was at pains to point out that monetary policy will likely remain highly accommodative for a long time after the first rate rise."In other markets:-- Mumbai rose 1.06 percent, or 283.17 points, to end at 27,115.83.Reliance Industries rose 5.41 percent to 981.45 rupees, mining major Coal India fell 0.92 percent to 394.10 rupees.-- Bangkok dropped 0.45 percent, or 6.75 points, to 1,508.04.Coal producer Banpu was flat at 26.00 baht, while Airports of Thailand plunged 3.15 percent, or 10.00 baht, to 307.00 baht.-- Singapore closed down 0.77 percent, or 25.49 points, to 3,300.42.United Overseas Bank gained 0.04 percent to Sg$23.00 while public transport firm ComfortDelGro eased 0.94 percent to Sg$3.18.-- Jakarta ended down 0.005 percent, or 0.254 points, at 4,945.50.Heavy equipment provider United Tractors gained 1.75 percent to 20,350 rupiah, while lender Bank Negara Indonesia slipped 2.21 percent to 5,525 rupiah.-- Malaysia�s key index slipped 0.51 percent, or 8.74 points, to 1,718.12.AirAsia surged 9.15 percent to 1.67 ringgit, and British American Tobacco rose 1.35 percent to 60.16 ringgit. Gaming resorts firm Genting lost 2.50 percent to close at 8.19 ringgit.-- Taipei rose 0.31 percent, or 28.54 points, to 9,218.37.Hon Hai Precision Industry closed 0.21 percent higher at Tw$94.6 while Taiwan Semiconductor Manufacturing Co was 0.35 percent lower at Tw$142.0.-- Wellington fell 0.51 percent, or 29.56 points, to 5,749.71.Air New Zealand slumped 9.62 percent to NZ$2.395 after rival Jetstar announced a domestic expansion, while Chorus closed down 2.70 percent at NZ$2.88.-- Manila closed 0.94 percent, or 70.55 points, higher at 7,606.86.Universal Robina added 2.86 percent to 197.50 pesos and Ayala Corp was up 2.50 percent at 799.50 pesos but Globe Telecom fell 0.61 percent to 2,600 pesos.            
 The World Bank has approved $188 million to improve the reliability and safety of the Guddu Barrage and strengthen the Sindh Irrigation Department�s capacity to operate and manage the barrages. Sindh Barrages Improvement Project (SBIP) under which the Guddu Barrage rehabilitation will be carried out is needed due to natural ageing of the infrastructure.The rehabilitation work will eliminate possible sources of failure and potentially give the structure another 50 years of life according to a news release from Washington.Barrages are strategic assets of Sindh and millions of people depend on the water that is controlled, diverted and managed by them. Their continued operation and management require specialized expertise, experience, decision making and continuity of operation, says Rachid Benmessaoud, World Bank Country Director for Pakistan.In addition to physical rehabilitation of barrage infrastructure this project will also support the Sindh Government in training and technical assistance in procurement, financial, social and environmental safeguards for operating hydraulic irrigation infrastructure.The SBIP will support the gate replacement works to improve the regulation and the flow of the barrage the replacement of all 65 main barrage steel gates, 25 main canal head regulator gates and hoist gears including all mechanical and electrical equipment.This project will also finance the independent Panel of Experts who will review, monitor, evaluate and help guide the rehabilitation process with regards to the safety of the barrage.The Guddu barrage constitutes the most strategic component of the large Indus Basin Irrigation System.                                   
 CNG stations will remain shut in Sindh on second consecutive day, Tuesday and will reopen on Wednesday morning after 48 hours of closure.According to Sui Southern Gas Company, closure of CNG outlets has been extended due to shortage of gas supply.Now, CNG pumps will reopen at 8:00AM on Wednesday morning after 48 hours of closure.It may be noted here that SSGC often changes CNG closure schedule, resulting daily commuter suffer severely.             
 Oil prices rose modestly on Monday as dealers focused on hopes for a Greek bailout deal and a possible return of Iranian supplies to an oversupplied global market.US benchmark West Texas Intermediate for July delivery edged up seven cents to $59.68 a barrel on the New York Mercantile Exchange.Brent North Sea crude for August closed at $63.34 a barrel in London, up 32 cents from Friday�s settlement.Eurozone leaders, holding an emergency summit in Brussels on Monday, were cautiously optimistic about eleventh-hour reform proposals from Greece as they met with Greek Prime Minister Alexis Tsipras in Brussels.The president of the European Union, Donald Tusk, said new reform offers made by the leftist Greek government were the "first real proposals for many weeks" from the government, giving hope for an end to the five-month standoff between the Greek government and its EU and International Monetary Fund creditors before a June 30 deadline.If the talks fail, Greece will likely default on an IMF debt payment of around 1.5 billion euros ($1.7 billion), possibly leading to its exit from the eurozone.Nevertheless, Daniel Ang of Phillip Futures in Singapore said Iran�s negotiations with world powers over its nuclear program are "going to give headwinds for... prices this week."If Tehran and six powers which want to restrict its nuclear activities reach agreement, the power have agreed to gradually scale back sanctions imposed since 2012 that have slashed Iran�s oil exports.A return of Iranian supplies "could cause another round of oversupply" in the global market, Ang said.                                   
 Foreign Exchange Reserves held by the country exceeded $18.20 billion.A statement issued by the Ministry of Finance here Thursday said that out of the total forex reserves, over $13 billion are with the State Bank of Pakistan (SBP) and over $5 billion are with Commercial Banks.Finance Minister Senator Muhammad Ishaq Dar extends felicitations to Prime Minister Nawaz Sharif and the whole nation as Pakistan on this important achievement.             
 The budget of Gilgit-Baltistan for the next fiscal year with a total outlay of above Rs 31 billion was presented on Sunday.Chief Minister of Gilgit-Baltistan Hafiz Hafeez-Ur-Rehman presented the budget in the GB Legislative Assembly.Speaker Gilgit-Baltistan Legislative Assembly Fida Muhammad Noushad chaired the session.The newly elected PML-N government of GB has taken over the charge a couple of days ago and due to shortage of time the session has been summoned on Sunday. The Assembly will pass the budget before the start of the next fiscal year falling on 1st of the next month.Rs 21.984 billion have been allocated for non-development expenditures while 9.937 billion rupees for the development expenditures.            
 Civil Aviation Authority (CAA) has ordered suspension of operation of Air Indus airline from July 1 due to the safety regulation violations by the airline.The spokesman of CAA said here on Tuesday that the unsafe condition and persistent violation of the safety regulations are endangering the safety of aircraft and life of passengers. Therefore, the authority has ordered suspension of the airline�s operation till the operators improve and achieve the required safety standard.            
 President Mamnoon Hussain has affixed his signatures on Finance Bill 2015-16 which will come into effect from July 1.According to sources at President House, the Ministry for Parliamentary Affairs had sent the Bill�s summary to the Prime Minister who attached his advice and forwarded it to the President for signatures.The process of approval for the Federal Budget with an outlay of Rs4.451 trillion now stands completed after signatures of the President.The National Assembly had okayed the Finance Bill for 2015-16 on June 23.             
 Asian markets rebounded Tuesday after the previous day�s rout, despite Greece being just hours away from default, while Shanghai surged in volatile trading that saw swings of more than nine percent.The euro edged down and analysts warned of sharp movements this week as Greece prepares for a Sunday referendum on creditors� bailout reform proposals, which European leaders say boils down to an in/out vote on the eurozone.Tokyo ended 0.63 percent higher, adding 125.78 points, to 20,235.73, Sydney gained 0.67 percent, or 36.5 points, to 5,459.0 and Seoul also put on 0.67 percent, or 13.71 points, to 2,074.20.Hong Kong jumped 1.50 percent in late trade.Shanghai�s roller-coaster ride continued, plunging more than 5.1 percent in the morning before bouncing back to rise 4.50 percent in the afternoon as bargain-buyers moved in after a recent hefty sell-off.Shenzhen was up 2.30 percent, having sunk more than six percent earlier.Mainland Chinese markets are swinging wildly after collapsing more than 20 percent over the past two weeks and analysts flagged more sharp movements in future.The Greek crisis sent markets tumbling across Europe and in New York on Monday.The euro ended Monday higher but edged down on Tuesday.It bought $1.1194 and 136.92 yen in Asia, against $1.1247 and 137.82 yen in New York."Right now the biggest surprise is that the euro is not materially weaker," Matthew Sherwood, head of investment markets research in Sydney at Perpetual Ltd, wrote to clients."Market expectations are that the Greek situation is manageable even if they exit the union," he said, according to Bloomberg News.The dollar edged down to 122.33 yen from 122.55 yen.With Greece�s bailout talks completely broken down after Prime Minister Alexis Tsipras called the July 5 plebiscite, the country is widely expected to miss its payment to the IMF due later Tuesday, leaving it in default."(How) is it possible the creditors are waiting for the IMF payment while our banks are being suffocated?" Tsipras said in a late-evening TV interview.With eyes on Sunday�s poll, top European leaders including Germany�s Angela Merkel, France�s Francois Hollande and Italy�s Matteo Renzi called on the Greek people to vote for the creditors� proposals."A �No� would mean, regardless of the question posed, that Greece had said no to Europe," said EU chief Jean-Claude Juncker."The political timetable is now unclear due to the surprise of the referendum. We do not know the wording of the question or the questions that will be asked, and so the outcome risks creating even more uncertainty," David Gaud, a senior fund manager at Edmond de Rothschild in Hong Kong, told AFP."The next big deadline is the payment expected on July 20 -- to the ECB this time. With the IMF payment already outstanding, the coming month will remain very volatile".- China volatility -In Shanghai dealers bought on the dip after heavy morning selling. The index lost more than three percent Monday, putting it in a bear market and economists warned of further losses as retail investors cash up and margin trades are called in.The exchange had run up gains of 150 percent in the year to June 12, before profit-takers moved in and authorities started tightening rules on margin trading, in which dealers borrow cash to invest.In a bid to protect the stock market China�s central bank at the weekend cut interest rates for the fourth time since November and also lowered the amount of cash lenders must keep in reserve.Speculation is also swirling that officials plan to halt initial public offerings often blamed for sucking up cash from markets."No one can tell for sure where the market�s bottom is," said Castor Pang, head of research at Core Pacific-Yamaichi in Hong Kong."The government will need to take more measures to stop the market�s freefall," Pang told Bloomberg News.Yingda Securities chief economist Li Daxiao told AFP: "The market started to show signs of stabilisation with blue chip stocks starting to resist the market plunge."Positive effects from the rate cut, as well as news of pension fund planning to enter the stock market, have started to kick in to support the market."On oil markets US benchmark West Texas Intermediate (WTI) for August delivery fell four cents to $58.29 while Brent crude for August gained 10 cents to $62.11 in afternoon trade.Gold fetched $1,177.05 compared with $1,177.05 late Monday.In other markets:-- Taipei rose 0.94 percent, or 86.92 points, to 9,323.02.Taiwan Semiconductor Manufacturing Co closed 1.44 percent higher at Tw$140.5 while Fubon Financial Holding gained 2.85 percent to Tw$61.4.-- Wellington rose 0.37 percent, or 21.15 points, to 5,726.96.             
 The Sindh High Court on Wednesday dismissed the Civil Aviation Authority (CAA) order suspending the operation of Air Indus from July 1. The SHC heard a petition filed by Air Indus whose lawyer informed the court that CAA had imposed the suspension on Air Indus under CAA Policy 2015. He added that the National Aviation Policy has been challenged by Air Indus in SHC and thus no action can be taken under it. The petition states that before taking action no show-cause was issued. The court suspended the CAA order and has issued notices to the federal government and CAA for July 6. On Tuesday, the CAA said unsafe condition and persistent violation of the safety regulations are endangering the safety of Air Indus aircrafts and life of passengers.            
 Greece became the first developed country Tuesday to default on its debt to the International Monetary Fund, after missing a 1.5 billion euro ($1.7 billion) payment."I confirm that the SDR 1.2 billion repayment due by Greece to the IMF today has not been received," said Fund spokesman Gerry Rice."We have informed our executive board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared."After a long day of failed attempts to resuscitate its bailout financing deal with the European Union, Greece had made a last-minute request to the IMF to have the payment, due by 2200 GMT Tuesday, extended.Rice confirmed the request but the board did not rule on it.The extension request "will go to the IMF�s Executive Board in due course," he said.                                   
 Oil prices fell on Friday with the focus on high US output as traders looked ahead to Greece�s weekend referendum that could determine whether it remains in the eurozone.West Texas Intermediate for August delivery fell 35 cents to $56.58 a barrel compared with Thursday�s close.Brent North Sea crude for August dropped 44 cents to stand at $61.63 a barrel in London afternoon deals.Traders are worried about a global supply glut and the first rise in the US oil-rig count this year.Oil prices had meanwhile slumped midweek as the US government revealed a surprise weekly build of 2.4 million barrels for the country�s commercial crude inventories. "This was the first build in stockpiles since the end of April, ending a run of eight weekly declines," said Fawad Razaqzada, technical analyst at Forex.com.Saxo Bank analyst Ole Hansen added Friday that the US situation combined with "OPEC producing the most since 2012... leaves the upside potential for crude oil (prices) still very limited". There are concerns also over a return to the market of Iranian crude.Talks between six world powers and Iran aimed at curbing the country�s nuclear ambitions were this week handed a deadline extension to July 7.Iran rejects allegations that it has been seeking to develop nuclear arms, and has resisted moves to give the International Atomic Energy Agency unbridled access to sensitive military sites to verify its claims.Successful outcome of the talks could see the lifting of sanctions that have forced the country to cut by half its oil exports.The Greece situation has meanwhile weighed on the euro this week, making dollar-denominated crude more expensive for holders of the single currency. (AFP)            
 With a benchmark index that has gained 16 percent in the last 12 months Pakistan has been among the world�s top 10 performers according to a recent Bloomberg report. The report highlighted improvements in Pakistan�s economicperformance in terms of trade, investment, industry, inflation, construction growth to name a few, during the Nawaz Sharif led PMLN government.The report noted that Prime Minister Sharif � who took power inMay 2013 � has boosted infrastructure spending by 27 percent to Rs.1.5 trillion for the fiscal year starting from July 1.Pakistan was making significant progress in meeting targetsunder its 6.6 billion loan program the International MonetaryFund said in May.The lender predicted a 4.5 percent growth in the economy inthe year starting July 1 following a 4.1 percent expansion lastfiscal year the report added.According to the report easing prices are also set to buoyconsumer spending. Inflation in South Asia s second largest economyslowed each month this year through April as transport and foodprices fell prompting the central bank to cut the benchmarkinterest rate in May to the lowest level in 42 years.It said Moody�s Investors Service upgraded Pakistan�ssovereign credit ratings for the first time since 2008 in June butsaid stalling the ongoing IMF program or an unstable politicalenvironment would be credit negative.The report noted that China was standing by Pakistan as thenation�s long time strategic ally.In April, Asia s largest economy, China signed deals for $28billion of investments in Pakistan as part of a planned $45 billioneconomic corridor that includes power plants and dams.The development in cities and smaller towns is trickling downand is good news for smaller contractors as well the report said.�Business has been very good and there s no doubt my work hastripled in five years,� the Bloomberg report quoted Mohammed HassanBakshi 43 a builder in Karachi. There s huge demandfrom the middle class for affordable housing. Builders in Pakistan are seeking technology from China to helpcut down construction and project execution times to as little assix months from as long as five years he said.The nation s construction sector grew by 11.3 percent in theyear through June 2014 almost double the 5.7 percent target according to central bank data.Pakistan is a reform story like neighboring India s but onlybetter said Renaissance�s Robertson.All of this is a big change on 2013 he said. Credit ratingagencies are beginning to recognize this. According to the report the construction boom also marks thenation s emergence as a frontier market after Prime Minister NawazSharif averted a balance of payments crisis with help from theInternational Monetary Fund and resumed selling stakes in statecompanies.He (Nawaz Sharif) is boosting infrastructure spending as the$232 billion economy expands at the fastest pace since 2008 amidthe cheapest borrowing costs in 42 years it said.It is the best undiscovered investment opportunity inemerging or frontier markets said Charlie Robertson London basedchief economist at Renaissance Capital Ltd.What�s changed is the delivery of reforms   privatization an improved fiscal picture and good relations with the IMF. D.G. Khan Cement Co. controlled by billionaire Mian MuhammadMansha and Cherat Cement Co. have announced expansion plans whilesteelmakers are selling shares.Amreli Steels Ltd. the nation s biggest maker of steel barsused in construction is planning a share sale to help doublecapacity. Mughal Iron & Steel Industries Ltd. completed an initialpublic offering in April.Pakistan�s cement industry has rallied 57 percent in the pastyear more than triple the gains by the benchmark according to datacompiled by Bloomberg.D.G. Khan Cement the third largest maker of the constructionmaterial has jumped 62 percent and Maple Leaf Cement Factory Ltd.has surged 161 percent and Fauji Cement Co. Ltd. has gained 81percent.The construction industry is seeing a boom and there isstill juice left in the cement rally said Mir Muhammad Ali chiefexecutive officer of UBL Fund Managers Ltd. that handles about 56billion rupees ($550 million) in stocks and bonds in Karachi.            
 China's tumbling stock market showed signs of seizing up on Wednesday, as companies scrambled to escape the rout by having their shares suspended and indexes plunged after the securities regulator warned of "panic sentiment" gripping investors.Beijing, which has struggled for more than a week to bend the market to its will, unveiled yet another battery of measures to arrest the sell-off, and the People's Bank of China said it would step up support to brokerages enlisted to prop up shares.The CSI300 index of the largest listed companies in Shanghai and Shenzhen closed down 6.8 percent, while the Shanghai Composite Index dropped 5.9 percent.With nearly half the market on a trading halt and another round of margin calls forcing leveraged investors to dump whatever shares could find a buyer, blue chips that had been supported by stabilisation funds earlier in the week bore the brunt."I've never seen this kind of slump before. I don't think anyone has. Liquidity is totally depleted," said Du Changchun, an analyst at Northeast Securities."Originally, many wanted to hold blue chips. But since so many small caps are suspended from trading, the only way to reduce risk exposure is to sell blue chips."More than 30 percent has been knocked off the value of Chinese shares since mid-June, and for some global investors the fear that China's market turmoil will destabilise the real economy is now a bigger risk than the crisis in Greece."Also, the ripple effect from the market correction has yet to show up," wrote Bank of America Merrill Lynch analysts in a note. "We expect slower growth, poorer corporate earnings, and a higher risk of a financial crisis."Commodities markets reflected growing concerns about the broader health of the world's second largest economy, with copper prices falling to a six-year low, Shanghai nickel futures sliding by their 5 percent daily limit, and oil falling towards $56 a barrel, near a three month-low.TRADING HALTSMore than 500 China-listed firms announced trading halts on the Shanghai and Shenzhen exchanges on Wednesday, taking total suspensions to about 1,300 - 45 percent of the market or roughly $2.4 trillion worth of stock - as companies scuttled to sit out the carnage.With so many small-cap companies sheltering on the sidelines, the ChiNext growth board, which has seen some of the biggest swings in valuations, fell a modest 0.8 percent.The plunge in China's previously booming stock markets, which had more than doubled in the year to mid-June, is a major headache for President Xi Jinping and China's top leaders, who are already grappling with slowing growth.Beijing's interventionist response has also raised questions about its ability to enact the market liberalisation steps that are a centrepiece of its economic reform agenda.China has orchestrated brokerages and fund managers to promise to buy billions of dollars' worth of stocks, helped by a state-backed margin finance company which the central bank pledged on Wednesday to provide sufficient liquidity.The securities regulator said the Securities Finance Corp had provided 260 billion yuan ($41.8 billion) to 21 brokerages, though that sum is only 40 percent of the amount of leveraged positions that investors have cut since June 18.RETAIL INVESTORSUnlike other major stock markets, which are dominated by professional money managers, retail investors account for around 85 percent of China trade, which exacerbates volatility."It's uncommon to see so many shares posting consecutive daily limit falls, and the index futures swinging so wildly," said Wang Feng, CEO and founder of hedge fund firm Alpha Squared Capital Co and a former Wall Street trader."It's a stampede. And the problem of the market is that all the players move in the same direction, and are too emotional."A surprise interest-rate cut by the central bank at the end of June, relaxations in margin trading and other "stability measures" have done little to calm investors.The barrage of official commentary and new support measures continued throughout Wednesday's trading session, without visible effect.Deng Ge, a spokesman for the China Securities Regulatory Commission, said in remarks posted on its official channel on Weibo, China's version of Twitter, that there had been a big increase in "irrational selling" of stocks.Government agencies also announced that insurers would be allowed to by more blue chips and urged major shareholders and top executives to buy their own shares.But the market sell-off has extended beyond the mainland, with Chinese stocks on US exchanges falling as much as 6.1 percent on Tuesday, according to the Bank of New York Mellon index of such securities.Hong Kong's Hang Seng Index fell 5.8 percent, with shares of Chinese brokerages taking a heavy beating."Investors are extremely unimpressed with their sudden conscription into national service, and you can see that in their share prices," said Matthew Smith, a strategist who covers the China financials sector for Macquarie.                                   
 The International Monetary Fund lowered its 2015 global economic growth forecast on Thursday, citing a likely "temporary setback" from the United States in the first months of the year.The IMF also highlighted the risk of "financial stress" in Europe from the Greek debt crisis and China�s slowdown, but left forecasts for the eurozone and the Asian giant unchanged.The Washington-based institution projected the world economy would grow 3.3 percent this year, less than the 3.5 percent pace it had forecast in April and slightly slower than 2014. The 2016 forecast was for a pick-up to 3.8 percent."Moderate growth continues, with an improving recovery in advanced economies, and a slowdown in underlying growth in emerging-market and low-income developing economies," said Olivier Blanchard, the IMF�s chief economist, at a news conference.According to the IMF, the downgrade of the global growth forecast largely reflects the contraction in the US economy in the first quarter amid severe winter weather, which spilled over to neighboring Canada and Mexico."The unexpected weakness in North America, which accounts for the lion�s share of the growth forecast revision in advanced economies, is likely to prove a temporary setback," it said.Because of the setback, the IMF lowered its forecast for the United States, the world�s largest economy, by 0.6 percentage point to 2.5 percent. Canada�s forecast was cut by 0.7 point to 1.5 percent, and Mexico�s by 0.6 point to 2.4 percent.Blanchard said that the US economy�s soft first quarter, a 0.2 percent contraction, turned out to not be a sign of underlying weakness "now that the fog has largely cleared.""Fundamentals are still solid, and the US recovery is on track," he said.Greece�s debt crisis, which could force it to abandon the euro, for the moment only was having a marginal effect on the expansion of the global economy, the IMF said in the update of its World Economic Outlook.The institution left unchanged its forecasts for the eurozone at 1.5 percent, and for the two largest economies: Germany (1.6 percent) and France (1.2 percent)."Developments in Greece have, so far, not resulted in any significant contagion. Timely policy action should help to manage such risks if they were to materialize," it said, noting the recovery in the eurozone seemed "broadly on track".But the recent rise in interest rates on the sovereign bonds in some euro area economies could signal larger problems ahead. "Some risks of a reemergence of financial stress remain," it said.- China outlook unchanged -The 188-nation IMF also left unchanged its forecast for China (6.8 percent) despite the turbulence in its capital markets."The puncture of what had clearly become a stock market bubble may have some limited effect on spending. But, for the moment, the slowdown in growth is primarily led by a slowdown in real estate investment, a development we see as basically desirable," Blanchard said."There is no particular reason to have lost confidence" in China�s economy because of the bursting bubble, he added.Japan, the world�s number-three economy, had some drag from sluggish consumption and wage growth, the IMF said, lowering its forecast by 0.2 point to 0.8 percent.Slowing growth in emerging market and developing economies was also holding back momentum in the global economy.The IMF said the contraction in Brazil, Latin America�s largest economy, would be worse than previously thought; it expects the economy to shrink by 1.5 percent this year.But the outlook for Russia, also in recession, was improved, with a 3.4 percent contraction expected after improvements in commodity prices and confidence.Risks to growth remained tilted to the downside, it said, including spillovers to economic activity from heightened geopolitical tensions in Ukraine, the Middle East and Africa.Given these uncertainties, the IMF was waiting for better growth in 2016, estimated at 3.8 percent, but showed caution."The projected pickup in global growth, while still expected, has not yet firmly materialized," it said.            
 The federal government on Thursday agreed to slash withholding tax on bank transactions to 0.3 percent, after a successful round of talks with the representatives of traders.Federal Finance Minister, Ishaq Dar said the government is ready to cut down the withholding tax on bank transaction from 0.6 percent to 0.3.He, however, said that those traders who failed to file income tax returns by September 30 would be charged the withholding tax on bank transactions at the rate of 0.6 percent.Earlier, the government had decided in the budget of 2015-16 to charge 0.6 percent withholding tax on bank transactions of Rs50,000 or more from non-filers.            
 Sindh Board of Revenue (SBR) has confirmed a fraudulent transaction worth Rs500 million between Aqeel Karim Dhedhi (AKD) and Pakistan Petroleum Limited (PPL) while National Accountability Bureau (FBR) has launched an investigation into the scam.In a shady transaction, a piece of land was acquired in 2010 by PPL through the real estate company of AKD at higher than market rate that caused a huge loss of Rs500 million to the country�s exchequer.Sindh Board of Revenue (SBR) confirmed fraud in the above transaction in its report filed with the NAB.A social worker named Waqas Ahmed had contacted the NAB and informed it about the transaction in question that took place on July 15, 2010.According to Waqas Ahmed, PPL bought the piece of land measuring 35009 sq ft through AKD�s real estate company at a rate of Rs175,000 per sq ft with the total amount of transaction hitting Rs1.2124 billion.Ahmed said the government rate for the land was Rs34,500 per sq ft and market rate was between Rs100,000 and Rs125,000.He said in order to allow illegal profit to the seller, 40 percent higher rate was paid for the land, causing a loss of Rs500 million to the national exchequer.When no action was taken after Waqas Ahmed�s contact with NAB, he approached Sindh High Court (SHC) on November 10, 2014.On this, NAB came up with an assurance to the SHC of taking action and began investigation into the matter.            
 Jubilee General Insurance (JGI) signed an agreement with Standard Chartered Bank Pakistan Limited (SCBPL) to provide General Insurance products to SCBPL  clients across Pakistan. The signing ceremony marked the beginning of this new alliance. The first product to be officially launched as a result of this alliance will be Critical Illness Plus designed especially for SCBPL clients with the mission to spread awareness about the lifestyle and financial impacts of a critical illness. The event highlighted the insurance options available to help protect against  unexpected expenses encountered during a major health condition. Moreover, the product offers the insured, his / her spouse and children the benefit of International Medical Second Opinion, which allows them access to over 100 world leading medical centers for 200 qualifying medical conditions.  JGI, one of Pakistan�s largest insurer, is a major General insurance provider with a number of key bank relationships in Pakistan. JGI�s sound financial position & service commitment will benefit SCBPL�s clients with world-class insurance coverage and service through new and inventive distribution channels. SCBPL is the leading international bank operating in Pakistan, recently accorded as the Best Foreign Bank by Finance Asia. The bank�s client base and extensive distribution network throughout Pakistan offer the opportunity for significant insurance penetration within the country.Speaking on the occasion, Mr. Tahir Ahmed, Managing Director, JGI, said: �We strongly believe that personal insurance products have the power to maintain and enhance the lifestyle of individuals. Therefore, Jubilee General is obliged to provide personal products to each and every Pakistani.The SCBPL resources strive to help raise awareness about the health and financial risks of a critical illness, such as cancer, heart attack or stroke etc. with the support of Jubilee General Team.I am glad to see that the staff of SCBPL is fully equipped with the product information and other insurance aspects related to this product.�Mr. Shazad Dada, CEO, SCBPL, added �We are extremely pleased to launch another enhancement to our insurance product suite for Retail Clients. SC in conjunction with our product partners has embarked on a journey to educate clients on the importance of coverage and offer them the most viable insurance options. Our ultimate aim is to continuously evaluate our client needs and leverage our strong alliances to refine our overall wealth proposition. This agreement is a good example of Standard Chartered living up to its brand promise, Here for good, and reflects our ongoing commitment towards bringing new and innovative client solutions to the market.�            
 The euro gained ground on Wednesday on hopes that Greece�s debt crisis will be resolved in a few days, averting a default to its European Union creditors.The euro, which had fallen to a five-week low of $1.0916 on Tuesday, rebounded as Greek Prime Minister Alexis Tsipras vowed to present "credible" reform plans to creditors by Thursday.The 19-nation currency rose to $1.1074 around 2100 GMT from $1.1007 at the same time Tuesday.European Union President Donald Tusk has set the "final deadline" for a deal on Sunday at a summit of all 28 EU leaders."Between the unusual suspension of trading on the NYSE and the meltdown in Asian equities, investors sent the euro higher on signs of progress towards a deal for Greece," said Kathy Lien of BK Asset Management.The New York Stock Exchange halted trading Wednesday for more than three hours due to technical problems that it said were not caused by hacking.Meanwhile, a weeks-long rout in Chinese equities continued, with stocks losing more than 30 percent since mid-June.The Federal Reserve�s release of the minutes of the June 16-17 meeting of the Federal Open Market Committee showed policymakers favored caution about embarking on the first interest rate hike in nine years.Omer Esiner, chief market analyst at Commonwealth Foreign Exchange, said the Fed minutes were less important to markets than normal because of the heightened level of concern regarding Greece and China."On both fronts, underlying conditions have deteriorated markedly since the Fed�s mid-June meeting, so the minutes may be largely irrelevant at this point," he said.                                   
 Oil prices ended the week firmer Friday, lifted by a recovery in share prices in China, which is the world�s biggest consumer of energy and major buyer of commodities generally.The crude market won a boost also from surging European stock markets, that were lifted mainly by hopes of a deal between Greece and its creditors. The International Energy Agency meanwhile forecast that global oil demand growth would slow in 2016 and that oil production in nations outside the Organization of the Petroleum Exporting Countries (OPEC) would stall.In its first estimates for 2016, the IEA forecast that oil demand would slow next year to 1.2 million barrels per day, compared with an average of 1.4 million barrels per day this year.Meanwhile growth in non-OPEC oil supply "is expected to grind to a halt in 2016 as lower oil prices and spending cuts take a toll", the IEA said in its monthly oil report.In trading Friday, US benchmark West Texas Intermediate for delivery in August climbed 42 cents to $53.20 a barrel compared with Thursday�s close.Brent North Sea crude for August advanced 62 cents to stand at $59.23 a barrel in London afternoon deals.- Chinese turbulence -US crude futures had sunk nearly eight percent Monday on worries about slowing global growth, as Greek voters rejected a bailout offer and China moved to calm financial market turbulence."There are some signs that foreign investors are more optimistic about China�s efforts to arrest the stock slide," said Bernard Aw, market strategist at IG Markets."However, I feel much caution should be exercised and it is important to observe the Chinese markets in the coming sessions before calling it a bottom."Aw added: "As we have seen in the past, Chinese equities may recover in one session, only to fall straight back into a downward spiral the next day."Chinese stocks surged for a second day on Friday as a government rescue plan offered a respite from a month-long rout.In a rollercoaster week, the Shanghai market gained 5.18 percent overall, after the government announced additional policies to avoid a market crash.But it is still down 24.9 percent from its closing peak on June 12. The stock market slide of recent weeks was a dramatic reversal of a 150-percent charge in the 12 months to its peak last month, fuelled by tens of millions of retail investors using borrowed funds.China�s economy, the world�s second largest, is already faltering. Gross domestic product expanded 7.4 percent in 2014, the slowest pace since 1990, and weakened further in the first three months of this year.But the International Monetary Fund said Thursday that there was no reason to lose faith in China�s economy because of the bursting stock market bubble.-- Greek relief --The oil market was focused also on Greece amid hopes debt-strapped nation would reach a deal with its creditors after Athens laid out details Thursday of a new bailout plan to save it from financial collapse.The package involves a pensions overhaul and tax hikes in return for debt relief and a rescue loan from the eurozone.Traders are also keeping an eye on negotiations in Vienna between western powers and Iran on a deal to curb Tehran�s nuclear ambitions and allow the lifting of punishing sanctions.Global powers leading the negotiations sought to ramp up the pressure for a deal, but Iranian Foreign Minister Mohammad Javad Zarif hit back, saying Western countries among the so-called P5+1 group on the other side of the talks were backtracking on previous commitments.A lifting of sanctions will allow Iranian oil to flow back into the global market, adding to a supply glut and helping depress prices, according to analysts.Meanwhile US commercial crude stockpiles rose another 400,000 barrels to 465.8 million barrels in the week to July 3, even as refineries picked up activity. Gasoline inventories also jumped, with the summer holiday driving season in full swing. (AFP)                                   
 Pakistan Railways has announced 30 percent reduction in fares of all the passenger trains on the eve of Eidul Fitr.The discount will be available for the first two days of the upcoming Eid, the announcement said.Fares of special Eid trains will also be lowered by 30 percent.However, the discount will not be available to journalists, scouts, students and senior citizens, as they already enjoy concessions in train fares.            
 Electricity prices are likely to be slashed by Rs3.29 per unit as the Central Power Purchasing Agency (CPPA) has asked the national power regulator to reduce tariff. CPPA has sent a recommendation to National Electric Power Regulatory Authority (NEPRA) in this regard. Electricity price are likely to go down by up to Rs3.29 per unit if NEPRA approves the request at its hearing scheduled for July 16. The decrease in consumer prices is likely to come into effect under the head of fuel adjustment for the month of May, and would be applicable across Pakistan except for consumers of K-Electric. The Central Power Purchasing Agency has informed NEPRA in its recommendation that fuel adjustment charges on power production were set at Rs8.09 per unit for the month of May, but  fuel cost in May remained at Rs4.80 per unit.NEPRA will conduct a hearing into the matter on July 16.                                   
 The euro surged against the dollar Friday amid hope that European leaders would accept Greece�s proposals for a new bailout deal over the weekend.The proposal, in which Athens offered signficant reforms over the next three years in exchange for fresh money and restructured debts from the country�s official EU creditors, raised optimism that another default by Greece and its exit from the euro area could be avoided.The euro rose more than one cent to $1.1149 around 2100 GMT on Friday. It also surged nearly three yen to 136.86 yen."The current proposals set forth by Greece and the creditors should have enough common ground that an agreement can be reached before the negotiation deadline on Sunday," said Christopher Vecchio, an analyst at DailyFX.The greenback showed little effect from Federal Reserve Chair Janet Yellen�s reiteration that the Fed�s first rate hike since 2006 will likely come before the end of the year.Yellen though remained cautious -- reflecting sentiment from the last Fed policy meeting -- noting continuing signs of slack in the jobs market and the risk of moving too soon on rates."We will be watching carefully to see if there is continued improvement in labor market conditions, and we will need to be reasonably confident that inflation will move back to two percent in the next few years," she said.                                   
 Federal Petroleum Minister Shahid Khaqan Abbasi said on Tuesday work on the Iran-Pakistan gas pipeline project is expected to begin in September. Abbasi said the time-frame on when work would begin on the pipeline depended on the nuclear agreement between Iran and world powers. He added that under the agreement Pakistan had to lay down pipeline 700 KM which may take over two years.             
 Oil prices slipped Monday as traders weighed reported progress in negotiations on Iran�s nuclear program, Greece�s tough bailout agreement with its European creditors and a mixed OPEC report.US benchmark West Texas Intermediate (WTI) for August delivery closed at $52.20 a barrel in New York trade, down 54 cents from Friday�s settlement.Brent North Sea crude for August shed 88 cents at $57.86 in London."The crude oil market is on the defensive in Monday trade as investors sort through the headlines since Friday," said Tim Evans of Citi Futures.Marathon talks between six major powers and Iran over Tehran�s nuclear program were making "real progress" but issues remained, the United States said Monday, suggesting the Vienna talks would stretch into another day.A deal could result in the lifting of sanctions that have sharply curbed Iran�s oil exports.The oil market is "wary that an Iranian nuclear deal could mean more supply, although it won�t be right away," said Evans.Greece�s bailout deal meanwhile lifted the dollar, which makes dollar-priced crude oil less attractive to buyers using other currencies."Oil traders are more concerned that the euro is weaker and the dollar stronger on the news," said Evans.Meanwhile, in its July monthly report, OPEC raised its forecast for growth in crude demand this year by 100,000 barrels to 1.28 million barrels per day.In 2016, demand is expected to pick up by 1.34 million barrels per day, hitting 93.94 million barrels per day, thanks to stronger economic growth, according to the OPEC report."OPEC raised its demand forecast... but with the stout supply picture, the market still has a bearish sentiment to price," said Brian Swan, commodity analyst at Schneider Electric.                                   
 Oil prices rose Tuesday as markets weighed the effects of Iran�s deal with six world powers on curbing the Islamic republic�s suspected ambitions for a nuclear bomb.US benchmark West Texas Intermediate for August delivery gained 84 cents at $53.04 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for August delivery added 66 cents at $58.51 a barrel in London. "I think people had already sold down the price of oil, expecting an agreement," said Michael Lynch, an analyst with the US-based consultancy Strategic Energy & Economic Research. "So it�s a case of selling on the rumour and buying on the news.""Now that it�s actually happened, people are buying back in," Lynch said.Analysts said the landmark agreement that will see sanctions eventually lifted on Iran�s oil exports would help to put a lid on any rise in crude futures this year and in the future."To be clear, the return of Iranian oil exports over the next year is one factor likely to keep oil prices low," said Thomas Pugh, commodities economist at consultants Capital Economics.Historic dealMajor powers -- Britain, China, France, Germany, Russia and the United States -- clinched a historic deal Tuesday aimed at ensuring Iran does not obtain the nuclear bomb, opening up Tehran�s stricken economy and potentially ending decades of bad blood with the West.Reached on day 18 of marathon talks in Vienna, the accord is aimed at resolving a 13-year standoff over Iran�s nuclear ambitions after repeated diplomatic failures and threats of military action.The deal puts strict limits on Iran�s nuclear activities for at least a decade and calls for stringent UN oversight, with world powers hoping that this will make any dash to make an atomic bomb virtually impossible.In return, painful international sanctions that have slashed the oil exports of OPEC�s fifth-largest producer and choked its economy will be lifted and billions of dollars in frozen assets unblocked.However, analysts cautioned that it will take time for additional Iranian oil to hit markets."Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak," Fitch Ratings said in a client note on Tuesday."Iran�s oil exports at the moment are around 1.1 million barrels per day versus levels of around 2.5 million before 2012," it noted.The ratings agency added: "We would expect to see some increases in production throughout the course of 2016 but that this would be less than half of the full 1.4 million barrels daily that was lost."The remainder will require significant investment and expertise, for which Iran is likely to want to partner with international oil companies."A spokesperson for Royal Dutch Shell said the energy giant is "interested in exploring the role Shell can play in developing Iran�s energy potential".BP added in a statement: "We are watching the situation and in the meantime we continue to comply with sanctions. We will look at opportunities once able to do so."Lid on pricesLooking ahead, "the extent of the impact on oil prices will depend primarily on the domestic capability to get oil on the market", said Nina Skero, economist at the Centre for Economics and Business Research."We expect Brent crude to... trade around $60 per barrel for the remainder of the year," she added.World oil prices collapsed by 60 per cent between June 2014 and January when it hit a low of $45. This in part was owing to excessive supplies caused by the boom in US shale oil.While OPEC on Monday revised upward its forecast for global crude oil demand growth for this year, it warned that crude output would also continue to increase.Iran�s OPEC peers Saudi Arabia and Iraq "have both significantly ramped up production this year", noted Richard Mallinson, analyst at research group Energy Aspects."There is little chance that these countries, and other OPEC members, are going to reduce output to make space for a return of Iranian production," he told AFP.                                   
 The State Bank of Pakistan (SBP) on Thursday stressed upon removing structural rigidities of various economic sectors, especially the export sector, in order to shift reliance from debt inflows for the financing of current account deficit and building up of foreign exchange reserves.�The first and foremost, exports, the prime source of foreign exchange earnings for the country, have been stagnant in the recent past, and declined during July-March (period) of FY15,� the central bank said in its latest report covering economic performance during the third quarter (January-March 2015) of the last fiscal year that ended on June 30, 2015.The report emphasized that as the non-debt inflows remained subdued, the country has to rely on debt inflows for the financing of current account deficit, and building up of liquid FX reserves.Moreover, it said net foreign direct investment (FDI) inflows, though maintained the last year�s level, could not match the outflow under repatriation of profits/dividends while the modest growth in tax collections continued to be a challenge.Referring to the external sector, it said the sector improved considerably due to (a) the current account, benefiting from a robust growth in workers� remittances, higher inflows under Coalition Support Fund, and a sharp reduction in oil prices, posted a notable surplus in Q3-FY15; and (b) the SBP�s liquid FX reserves more than doubled the level seen a year ago, enough to finance three months of the country�s import bill.The resulting stability in the exchange rate, together with the government decision to pass-on the benefit of fall in international oil prices to domestic consumers and the prudent monetary management, not only pushed YoY CPI inflation down to a decade�s low.The report added that the budget deficit during July-March FY15 slightly narrowed to 3.8 percent of GDP, compared with 3.9 percent in the same period last year. FBR tax collections grew by 12.7 percent during Jul-Mar FY15, which were well below the 17.9 percent growth recorded in Jul-Mar FY14. Overall expenditures grew by 8.3 percent during Jul-Mar FY15, against 8.7 percent in the same period FY14. According to the report, the financing of budget deficit indicates that the government did not resort to inflationary borrowing from SBP; instead, it returned a huge sum of Rs 674.4 billion (on cash basis) during July-March FY15.As a result, the government was not only able to contain its borrowing from SBP within the IMF ceiling for end-March 2015, but also met the limit of zero quarterly borrowing prescribed in the SBP Act, 1956.The report also noted that the real GDP grew by 4.24 percent in FY15. Though it was the highest since FY08, it fell short of 5.1 percent target for the year, as most of the challenges to economic activity continued to persist. Agriculture sector posted a slightly higher growth (2.9 percent) in FY15, compared with 2.7 percent in FY14. Large scale manufacturing (LSM) grew by 2.5 percent during Jul-Mar FY15, compared with the 4.6 percent growth during the same period last year. Despite relatively low growth in commodity producing sectors (agriculture and industry), services managed to grow by 5.0 percent in FY15, which was higher than 4.4 percent of last year.            
 National Electric Power Regulatory Authority (NEPRA) has approved Rs2.68 per unit cut in power tariff for consumers of all the power distribution companies except K-Electric.The regulatory body heard the petition, filed by Power Purchasing Agency, over fuel adjustment for the month of May. NEPRA approved slash in the power tariff by Rs2.68 per unit for all the companies except the K-Electric. The cut in tariff will not be applicable for the domestic and agricultural consumers using electricity upto 300 units.                                   
A major rally in Google pushed the Nasdaq to a second straight record high on Friday while weak energy stocks weighed on the Dow and S&P 500.Google surged 16.26 percent to end at an all-time high of $699.62, a day after reporting strong ad revenue growth. It was Google's largest one-day percentage gain since April 2008.Facebook rose 4.53 percent to a record high of $94.97 on hopes that it could mirror Google's ad growth. Etsy spiked 30 percent thanks to a nod from Google during its conference call.But a drop in oil prices limited gains on the broader stock market, with the S&P 500 energy index .SPNY down 1.07 percent to its lowest level since January 2013. Chevron lost 1.4 percent. The utilities index .SPLRCU dropped 1.06 percent.Wall Street insiders were cautiously optimistic about upcoming quarterly reports after some results this week came in above expectations.�It�s going to be better than what the consensus numbers were pointing to,� said Kurt Brunner, a portfolio manager at Swarthmore Group in Philadelphia. �Our economy is doing okay. We�re not growing at 5 percent but we have slow, steady growth and I think that continues.�The Nasdaq Composite .IXIC added 46.96 points, or 0.91 percent, to end at 5,210.14, its second straight record high close.The S&P 500 .SPX gained 2.35 points, or 0.11 percent, to end at 2,126.64, just shy of its record high of 2,130.82.The Dow Jones industrial average .DJI fell 33.8 points, or 0.19 percent, to end at 18,086.45.Boeing fell 1.11 percent and was the biggest drag on the Dow after it said it will take a second-quarter charge related to problems with its KC-46 aerial refueling tanker aircraft program.General Electric shares rose 0.74 percent after raising its 2015 outlook for its industrial manufacturing businesses.The technology index .SPLRCT was the sole gainer among the 10 major S&P 500 indexes, up 1.75 percent, mostly because of Google.For the week, the Dow gained 1.8 percent, the S&P added 2.4 percent and the Nasdaq rose 4.3 percent, its largest weekly gain since October 2014.The dollar saw its biggest weekly gain in two months due to expectations of a Federal Reserve rate hike this year. However, a strong dollar reduces the value of US companies' overseas income.US companies have been expected to post their worst sales decline in nearly six years in the second quarter, in part due to the strong dollar. Profit is expected to have fallen 2.9 percent, according to Thomson Reuters estimates.Declining issues outnumbered advancing ones on the NYSE by 2,000 to 1,076, for a 1.86-to-1 ratio; on the Nasdaq, 1,676 issues fell and 1,115 advanced for a 1.50-to-1 ratio favoring decliners.The S&P 500 posted 21 new 52-week highs and 25 new lows; the Nasdaq saw 107 new highs and 87 new lows.Volume was a bit light, with about 6.1 billion shares traded on U.S. exchanges, below the 6.6 billion average so far this month, according to BATS Global Markets.                                   
 The price of yellow metal in the local market dropped to a new record low on Tuesday, in line with the downward trend in international prices.Gold prices fell by Rs800 to Rs44,700 per tola (11.66 grams) � a new record low in the Pakistani market.  The fall in local market price follows a steep decline in the global market, where the precious metal has slumped to the lowest point in nearly five and a half years. On Monday, gold tumbled to $1,072.35 in Asian deals, striking the lowest point since February 11, 2010, and breaching the key psychological barrier of $1,100, as the precious metal continued to be weighed down by a strong US dollar and reports of massive selling in China.The metal is traditionally regarded by many investors as a safe store of value in times of economic or geopolitical turmoil.                                   
 Asian shares were mixed Tuesday morning with Tokyo buoyed by a weak yen but falling commodity prices raised fears about global growth as Chinese stocks slipped after a brief reprieve in their month-long rout.Tokyo�s benchmark Nikkei 225 index rose 0.43 percent, Hong Kong was up 0.23 percent, Seoul was flat, Sydney gained 0.14 percent, while Singapore edged down 0.06 percent.Chinese shares fell sharply at the open as investors grew cautious after the market approached the key 4,000-point level, dealers said.The benchmark Shanghai Composite Index dropped 1.64 percent while the Shenzhen Composite Index, which tracks stocks on China�s second exchange, lost 1.91 percent.Both indices moved back into positive territory in later trading. The fresh volatility comes after Beijing launched a series of initiatives to staunch a bloodletting that saw a 30 percent plunge in Shanghai and trillions wiped off valuations.Among the measures were a police crackdown on short-selling and a ban on big shareholders and company executives from selling stock for six months, adding to earlier announcements.Meanwhile, dealers said a drop in commodities prices raised concerns about the global economy as crude oil briefly fell below $50 a barrel on Tuesday, and gold traded near a five-year low."This commodities rout is a very big concern," Michael McCarthy, a chief strategist at CMC Markets in Sydney, told Bloomberg News. "There�s risk for a further downside. It looks like the overall global growth outlook is continuing to slow."Investors were also keeping an eye on Greece where the government hiked taxes and paid billions of euros to its creditors on Monday, as banks reopened just days after the debt-laden country reached a bailout deal with its creditors.In currency markets, the dollar was trading around a five-week high at 124.34 yen, against 124.30 yen in New York on Monday.The euro bought $1.0825 and 134.61 yen, little changed from $1.0824 and 134.55 yen in US trading."The weaker yen and cheaper oil will have a positive effect on Japanese stocks," said Toshihiko Matsuno, chief strategist at SMBC Friend Securities Co. in Tokyo.Eyes are now on Washington as the Federal Reserve considers when to hike interest rates from their record lows as the US economy gets back up to speed. Last week Fed chief Janet Yellen said she saw a rise taking place before 2016 -- a rate hike is a plus for the dollar.Meanwhile, the Bank of Japan and European Central Bank are spending hundreds of billions of dollars on bonds and other assets to support their respective economies, pushing down the value of the yen and euro.On oil markets, US benchmark West Texas Intermediate for August delivery was down 10 cents to $50.05, after briefly dipping to $49.94, and Brent crude for September fell eight cents to $56.57 a barrel in morning Asian trade.Gold fetched $1,103.54 after falling as low as $1,072 per ounce in Asia trade Monday. (AFP)            
 Crude oil prices slipped lower on Monday as a UN Security Council vote highlighted the prospect of Iranian oil returning to the global market.West Texas Intermediate for delivery in August, the US benchmark, fell for the fourth straight session, dropping 74 cents to $50.15 a barrel on the New York Mercantile Exchange.London, global benchmark Brent North Sea crude for September delivery closed at $56.65 a barrel, down 45 cents from Friday�s settlement.For the WTI contract, Monday�s closing level was the lowest since March 17, when it settled at $43.46. Several times during the session it dipped below $50, flirting with its lowest close since April 2."The market is in search of a bottom," said Gene McGillian of Tradition Energy.According to the analyst, "with the dollar rising the market is still trying to price in the idea we could have additional supplies to oil come to the market" in the near future, following the expected lifting of economic sanctions against Iran.Earlier in the day the United Nations Security Council unanimously adopted a resolution endorsing the historic deal reached last week between six major powers and Iran on Tehran�s nuclear program.Citi Futures analyst Tim Evans said that oil was swept up Monday in a wider decline in commodity prices, pointing out gold dropped to new five-year lows."We continue to view the current physical surplus as sufficient to drive price lower, but more Iranian production will certainly add to the overhang and push an eventual rebalancing of market further down the road," Evans said.The Islamic Republic�s exports could reach a potential 2.4 million barrels per day in 2016, from 1.6 million barrels in 2014, according to data from economist Charles Robertson at investment bank Renaissance Capital. (AFP)            
 Gold fell back towards five-year lows on Wednesday as investors continued to pull away from the precious metal, with a slide through key chart levels earlier this week setting prices up for further losses.A looming rise in US interest rates, the first in nearly a decade, has dented gold's investment appeal, encouraging more sellers in the market after Monday's 3 percent rout, its biggest one-day drop since September 2013.Holdings in top gold-backed exchange-traded fund (ETF) SPDR Gold Trust fell for a fourth day on Tuesday, declining another 4.8 tonnes to hit their lowest since 2008. Its reserves have nearly halved from their 2012 peak.Spot gold was down 0.5 percent at $1,095.69 an ounce at 0940 GMT, while US gold futures for August delivery were down $8.70 an ounce at $1,094.80. On Monday, gold slid to its lowest since March 2009 at $1,088.05 an ounce.It failed to benefit from a softer tone to the dollar and stock markets on Wednesday, which usually would be expected to give some respite to the metal."We expect further losses in gold," Commerzbank analyst Daniel Briesemann said. "Gold prices are falling against the weaker dollar, declining equity markets -- those are clearly bad signs. Everything speaks against rising gold prices."ETF investors are getting rid of their holdings, and it seems speculators are also continuing to sell. It's a perfect storm for gold," he said. "Expectations about the developments of US interest rates are clearly an underlying trend."Monday's selloff came on the back of huge volumes traded on the Shanghai Gold Exchange after investors dumped more than $500 million of bullion in New York in four seconds during early Asian trading hours.That sparked a slide through key chart levels, triggering stop-loss orders that added to momentum. From a technical perspective, gold remains under pressure."Our next price target is seen at $1,044, the 2010 low, followed by $1,006, the late 2009 high," technical analysts at ScotiaMocatta said in a note. "Lower lows and lower highs keep this bearish price move in motion. Only a close back above $1,133 will stabilize the metal."Physical demand has been sluggish despite this week's steep price drop. India is not rushing to pick up slack Chinese demand as would-be buyers wait for further price drops, with a wedding season lull and poor rains curbing appetite.Spot platinum was down 0.9 percent at $968.95 an ounce, while palladium was down 1.1 percent at $618.90, both trading near multi-year lows. Silver was down 0.3 percent at $14.77 an ounce.                                   
 The dollar weakened Tuesday after huge gains the prior week appeared to encourage profit taking, while the euro benefited from Greece�s progress toward a bailout."A lull in the US economic calendar over the first half of the week has enticed many to cash in a few of the dollar�s big two percent gains from last week which amounted to its best weekly performance in two months," said Joe Manimbo at Western Union Business Solutions.The euro rose to $1.0942 around 2100 GMT from $1.0824 at the same time Monday. The dollar also fell against the yen, to 123.86 from 124.30.The dollar�s weakness should be fleeting as the US Federal Reserve readies an interest rate increase, said Kathy Lien of BK Asset Management, with the next update of the Fed�s stance coming after a policy meeting on July 29."Although the Fed is not expected to raise interest rates in July, the tone of the monetary policy statement should be optimistic, reinforcing the notion that the economy is ready for tightening," she said.Last week Fed chief Janet Yellen said the rate hike was likely this year, underpinning the dollar�s rally. In Europe, there was positive movement in Greece�s efforts to gain a new bailout. The Greek government submitted to parliament a second batch of reform measures needed to start negotiations, with a vote scheduled for Wednesday."The euro is higher as progress continues to be made toward a third financial assistance program for Greece," said Nick Bennenbroek, head of currency strategy at Wells Fargo Securities.            
 Oil prices were mixed in Asia Thursday, with WTI stuck below $50 a barrel after a rise in US stockpiles added to concerns over a supply glut, analysts said.The US Department of Energy on Wednesday said the country�s commercial crude stockpiles rose 2.5 million barrels last week, while supplies at the closely watched Cushing, Oklahoma, hub were up 800,000 barrels.The report also showed US production staying at near-record levels of about 9.6 million barrels per day, bad news for a market already awash with crude from the Organization of the Petroleum Exporting Countries (OPEC).In late-morning Asian trade, US benchmark West Texas Intermediate (WTI) for delivery in September was up six cents at $49.25 after closing Wednesday below $50 a barrel for the first time since April.Brent crude for September fell six cents to $56.12."US inventories expanded more than expected... which exacerbated the oversupply problem, especially when Saudi is pumping at record production levels," said Bernard Aw, market strategist at IG Markets Singapore."OPEC produced 32.1 million barrels per day in June, with the largest increase coming from Iraq and Saudi Arabia. This was 2.1 million more than what the organisation said it will maintain," Aw said in a market commentary.A strong US currency is also putting further downward pressure on oil. With the commodity priced in dollars, it becomes more expensive for holders of weaker currencies, denting demand."The recent run-up in the greenback presented another pressure point for crude. It now looks like oil may move lower, with March lows of $42-$45 in the crosshairs," Aw said.Expectations that the US central bank is on track to raise interest rates this year have boosted the dollar as investors flock to the currency in the hope of getting better returns. (AFP)                                   
 Asian markets mostly fell Friday following another sell-off on Wall Street while the dollar edged up against the yen ahead of an expected US interest rate rise.Gold prices extended losses as commodity prices are hurt by the stronger dollar but oil recovered slightly from Thursday�s dips, although a global supply glut is expected to keep a lid on any strong gains.Tokyo slipped 0.39 percent, Hong Kong dipped 0.47 percent, Seoul was 0.82 percent lower and Sydney was flat.Shanghai rose 0.15 percent, a seventh-straight advance, after the government put in place measures to support the market in response to a month-long plunge.US traders retreated for a third straight session Thursday in response to more soft reports, with American Express, Caterpillar and 3M all disappointing.The below-par results follow similarly downbeat posts from Apple, Microsoft and United Technologies this week, which have fuelled fears about this quarter�s earnings.The Dow fell 0.67 percent, the S&P 500 dropped 0.57 percent and the Nasdaq gave up 0.49 percent.Company profits have been pressured by a strengthening of the dollar as the Federal Reserve prepares to hike rates, with bank chief Janet Yellen last week saying she saw a move before the year�s end.In Tokyo Friday, the dollar was at 124.00 yen, up from 123.90 yen in New York.The euro edged up to $1.0990 and 136.14 yen from $1.0985 and 136.10 yen."With the US dollar likely to keep rising as the Fed prepares to raise rates, there�s still some sort of weakness to come in the commodity space," Angus Gluskie, managing director at White Funds Management Ltd. in Sydney, told Bloomberg News."The earnings outlook in the US is also somewhat subdued as a result of the strong US dollar. We�re not likely to see a massive rally in the next few months."On commodities markets gold is sitting at five-year lows as the expected rate hike sees traders flee from the safer sanctuary of the precious metal in search of better returns.Bullion fetched $1,088.64 an ounce compared with $1,101.86 late Thursday.Oil rose but continues to be blasted by the strong dollar and worries about a global supply glut.US benchmark West Texas Intermediate for September delivery was up 37 cents to $48.82 -- around its lowest levels since March -- and Brent crude for September gained 26 cents to $55.53 a barrel in morning Asian trade. (AFP)            
 The State Bank of Pakistan (SBP) on Saturday announced the new monetary police keeping the discount rate unchanged at 7 per cent. The monetary policy for the next three months was announced by SBP Governor Ashraf Wathra who said the country was headed towards economic stability.             
 Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses.Investors are looking to the US Federal Reserve for direction this week. The central bank starts a two-day policy meeting on Tuesday that could result in a September interest rate hike that would strengthen the greenback."The markets are looking for price guidance from Janet & Co," said Ben Le Brun, market analyst at Sydney's OptionsXpress, referring to Fed Chair Janet Yellen and the bank."There is scope for the dollar bulls to be disappointed this week (which) might be a driver for oil prices and the commodities complex overall," Le Brun said.A weaker dollar makes dollar-denominated commodities, including oil, cheaper for consumers using other currencies.Brent crude for September was down 2 cents at $54.60 a barrel as of 0655 GMT after dropping 65 cents in the previous session to $54.62, its lowest close since March 19.US crude for September was down 12 cents at $48.02, after falling 31 cents in the previous session to $48.14, its lowest settlement since March 31. It hit an intra-day low of $47.72 on Friday, the lowest intraday price since April 1.Sparking new worries about a global glut, US oil producers added 21 drilling rigs last week, the biggest rise since April 2014, according to Baker Hughes.The increase in drilling activity came despite a 21 percent collapse in US crude prices from about $61 a barrel in mid-June. A 20 percent downturn is considered by many traders to constitute a bear market.In Iraq, exports from its southern oilfields are on course for a monthly record, having topped 3 million barrels per day so far this month, according to loading data and an industry source.The expectation of continued abundant oil supplies, including an output increase from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries, led the National Australia Bank on Monday to revise its oil price forecasts in a monthly report."We now expect oil prices to stay below $70 a barrel for the rest of 2015 and 2016," the bank said.Speculators cut long bets on US crude futures and options to the lowest level in five years last week, the US Commodity Futures Trading Commission said on Friday.                                   
 Pakistan on Tuesday received some $336 million from the United States for its ongoing role in combating a Taliban insurgency in neighbouring Afghanistan.The injection of cash, which comes as the Taliban steps up its annual summer offensive launched in late April, has helped Pakistan�s foreign exchange reserves reach a fresh high of about $19 billion, state bank officials said.Regular payments to Pakistan under the Coalition Support Fund (CSF) programme began in 2001 when Pakistan joined the US-led coalition in Afghanistan as a "frontline ally".Pakistan provides use of its air bases and other facilities in exchange for the reimbursements.The central State Bank of Pakistan (SBP) in a one-line press note said it had received a total of $336.8 million under the CSF programme, which is the first tranche of a $1.5 billion for the current fiscal year ending June 2016.Pakistan has received a total of $13 billion in CSF payments since the programme began.US-led NATO forces ended their combat mission in Afghanistan in December, leaving local forces to battle militants alone, but a 13,000-strong residual force remains for training and counter-terrorism operations.The Afghan government meanwhile conducted its first face-to-face talks with Taliban cadres on July 7 in a Pakistani hill station, aimed at ending the 14-year insurgency.But despite the willingness to engage in talks there has been no let-up in militant attacks, which are taking a heavy toll on civilians.Almost 1,000 civilians were killed in the conflict during the first four months of this year, a sharp jump from the same period last year, according to the United Nations.                                   
 Asian markets tumbled further Tuesday, dragged down by another massive sell-off in Shanghai a day after the mainland Chinese market�s heaviest one-day losses in more than eight years.Fears of a resumption of the rout that strafed Chinese shares over a month until July 8 sent global traders running Monday, with Wall Street falling for a fifth day in a row and safe-haven gold edging back up after a recent slip.The dollar weakened against the yen on risk-aversion while analysts said the latest crisis on Chinese markets could affect Federal Reserve policymakers� decision when considering hiking interest rates.Shanghai, which collapsed 8.48 percent Monday, fell a further four percent Tuesday, while Hong Kong was 0.50 percent down. Tokyo shed 1.07 percent, Sydney was 0.89 percent lower and Seoul retreated 0.83 percent.Chinese investors rushed for the exit Monday as more data showing the economy still struggling mixed with fears that government measures to prevent a market crash -- including providing vast sums of cash to support shares -- will not last.The moves -- introduced after a more than 30 percent dive that wiped trillions off valuations in just under four weeks -- had been credited with helping to stem the bleeding, stabilise trading and put prices back on an upward trajectory. The market had surged more than 150 percent in the year to hitting a near-term peak on June 12.Tuesday�s losses came despite assurances from Beijing that it will unleash more cash to provide stability to jittery share markets.State-backed China Securities Finance Corporation (CSFC), which has reportedly already pumped billions of yuan into mainland equities under a government plan, will continue to buy stocks, the state-run Xinhua news agency reported. - Return of volatility -"The worst time has passed but we think there is a final leg for this correction," Steve Yang, strategist at UBS Group AG, said. "Fundamentally there is no reason for funds to come in and buy aggressively."However, Zhang Yanbing, an analyst at Zheshang Securities, told AFP: "It�s a normal correction of the market since it rose too much before."Shares had climbed about 17 percent since hitting a trough on July 8.Analysts said the events could be a key issue on the agenda when the Fed�s policy meeting takes place this week. While it is not expected to lift interest rates now, dealers are hoping for some guidance on its plans."The return of market volatility in China will be a significant discussion point at the US Fed in terms of what this is telling us about the Chinese economy," Matthew Sherwood, Sydney-based head of investment strategy at Perpetual Ltd., said. "There is a lot of global weakness and significant external risk."The dollar eased to 123.19 yen early Tuesday, from 123.24 yen in New York and well off the 123.75 yen earlier in Asia.The euro changed hands at $1.1089 and 136.68 yen against $1.1091 and 136.69 yen in US trade.Gold, which is considered a safe bet in times of crisis, fetched $1.095.66 an ounce compared with $1.096.60 late Monday but it is much higher than the $1,080.50 at the end of last week.Oil prices continue to suffer from fears about the global economy as well as an oversupply of the commodity. US benchmark West Texas Intermediate for September delivery was down 30 cents to $47.09 and Brent crude for September dropped 40 cents to $53.07. (AFP)                                   
 Microsoft began rolling out its Windows 10 operating system Wednesday, aiming to revive the tech giant�s fortunes, especially in mobile and the "Internet of Things."The stakes are high for Microsoft as it pushes out the new operating system for both traditional computers and mobile devices such as tablets and smartphones.The US tech giant is hoping the new system can help it gain traction in mobile, where it lags behind Google Android and Apple iOS."Our vision was one platform, one store, and one experience that extends across the broadest range of devices from the smallest screens to the largest screens to no screens at all," said Microsoft executive vice president for Windows Terry Myerson in a blog post."Windows 10 begins to deliver on our vision for more personal computing. In this world experiences are mobile, moving with you seamlessly and easily across your devices. Interacting with technology is as natural as interacting with people -- using voice, pen, gestures and even gaze for the right interaction, in the right way, at the right time. And in our connected and transparent world, we respect your privacy and help protect your information."Forrester Research analyst Frank Gillett said Microsoft faces a tough task in catching up with Google and Apple in the mobile space."Microsoft will face a long road ahead to gain Windows share in mobile," he said."While it will win a growing share of enterprise tablet purchases, the plans for Windows 10 don�t show enough potential to create a differentiated mobile experience that will draw developers and customers away from iOS and Android."Richard Edwards, analyst at the consultancy Ovum, said Microsoft is looking beyond mobile to emerging technologies including wearables and other connected devices."This isn�t about recapturing the important mobile operating systems market," Edwards said."It�s about gaining a strong foothold in the next multibillion dollar market: the �Internet of Things.�"- Skipping to Windows 10 -Windows 10 -- Microsoft skipped directly from Windows 8, which got a lackluster response -- is being offered as a free upgrade for most devices, making it possible to be available quickly on billions of devices.It will allow for voice, pen and gesture input, and in some cases biometric identification for improved security.The Cortana virtual assistant -- Microsoft�s answer to Apple�s Siri and Google Now -- will also be integrated.And Windows 10 will include the Microsoft Edge browser, a move designed to help the tech giant regain market share lost to rivals such as Mozilla Firefox and Google Chrome.Microsoft hopes to break the cycle in which consumers shun Windows for mobile because it lacks the large catalog of applications found on rival platforms, thus discouraging app makers from creating Windows versions.Hit apps could ramp up popularity of Windows-driven hardware made by Microsoft and its partners, and increase opportunities for the company to make money from online activities such as search, shopping and software as services in the Internet cloud.With Windows 10 and other products, Microsoft is shifting away from one-time software sales to a subscription model -- or software as a service -- in an effort to better compete in the new tech landscape.Bob O�Donnell at the research firm Technalysis said the new operating system may help stimulate new sales of computers and other hardware -- a phenomenon of the past which has been absent in recent Windows releases."I�m still hopeful that the PC industry will see some decent upside from Windows 10, particularly in the fourth quarter of this year and into 2016," he said."The primary reason for my optimism is that Microsoft has actually integrated quite a few new capabilities into Windows 10 that will benefit from new hardware."            
 Most Asia shares rose Wednesday as calm returned to global markets after a heavy sell-off at the start of the week, with investors taking a cue from a rally on Wall Street ahead of a key US Federal Reserve policy meeting later in the day.Shanghai edged up on easing concerns about government�s measures to support mainland equities that were put in place at the start of the month to prevent a market meltdown.Shanghai added 1.32 percent after slumping more than 10 percent in the past three sessions, while Hong Kong rose 0.82 percent, Sydney gained 1.32 percent, Seoul was 0.49 percent higher and Singapore advanced 0.32 percent.But Tokyo eased 0.35 percent, weighed by a stronger yen.US and European bourses recovered Tuesday from the previous day�s huge losses that were sparked by Shanghai�s 8.48 percent plunge.Wall Street snapped a five-day losing streak thanks to strong earnings from shipping giant UPS as well as bump in petroleum stocks.The Dow climbed 1.08 percent, the S&P 500 gained 1.24 percent and the Nasdaq jumped 0.98 percent.That followed healthy rises in London, Paris and Frankfurt."Often when a lot of stocks get washed out, we get a rebound," Nader Naeimi, Sydney-based head of dynamic asset allocation at AMP Capital Investors, told Bloomberg News.The US central bank ends a two-day policy meeting on Wednesday and traders will be poring over its comments to get a handle on its plans for raising interest rates.While expectations are for a hike in either September or December, Naeimi said the events in China and elsewhere would likely have an impact on policymakers� decision-making."The Fed will be focused on global conditions. What�s happening globally can�t be totally ignored."On currency markets the dollar eased to 123.44 yen from 123.56 yen in New York, while the euro changed hands at $1.1073 and 136.78 yen against $1.1058 and 136.64 yen.Oil prices continue to fall on worries about the global economy as well as a global supply glut. US benchmark West Texas Intermediate for September delivery fell four cents to $47.94 and Brent crude for September declined nine cents to $53.21 in morning Asian trade.Gold fetched $1,096.18 an ounce compared with $1,091.80 late Tuesday. (AFP)            
 The government has decided to cut petroleum prices for the month of August in a monthly review of prices, Geo News reported.According to details, price of petrol has been cut by Rs1.30 per liter, bringing new price to Rs 76.49. The price of diesel per liter has been reduced to Rs84.52 after a decrease of Rs2.60.New prices would be applicable from midnight.                 
 Civil Aviation Authority (CAA) has revised the airport charges under various heads for passengers, effective from August 1st. According to details, the international embarkation fee for first and business class is Rs3000 and for economy class it has been set to Rs1500. For domestic embarkation, fee on economy class is set to Rs500. On the other hand, a security charge for international and domestic passengers is Rs1030 and Rs100 respectively and government airport tax is Rs20. For Multan International Airport, the embarkation charges for international economy passengers will be Rs2000 and other charges will remain the same as above. Pakistan Civil Aviation Authority (PCAA) has also increased variable landing charges at slot constrained airports by 25 percent. This will be applicable across the board irrespective of historical slots at Allama Iqbal International Airport, Lahore and Benazir Bhutto International Airport, Islamabad from winter schedule 2015 during peak hours.                                   
 Pakistan's car market has been dominated by Japanese automakers for decades, but a mini-economic revival looks set to attract new players from Europe and Korea into the mix.Despite heavy taxation on imported vehicles, enthusiasm for owning a car in Pakistan has remained undented � thanks in part to underdeveloped public transport in the country�s sprawling cities, but also the social status it brings.Toyota, Suzuki and Honda car assembly plants already work around the clock in the southern port city of Karachi and eastern Lahore � yet customers can still wait for up to four months for new vehicles to be delivered.Now demand for cars in the South Asian giant of 200 million people is accelerating even more quickly, as economic growth has reached its fastest pace since 2008 while renewed investor confidence and easing inflation have spurred consumer spending.Keen to cash in, a delegation from German auto giant Volkswagen visited the country in recent weeks, according to Pakistani officials and German diplomats.Company spokesman Christoph Adomat told AFP that while "Volkswagen is constantly evaluating market opportunities on a worldwide basis... there are no decisions for an investment from Volkswagen side in Pakistan".Miftah Ismail, the chairman of Pakistan Board of Investment who took part in the talks, said Volkswagen was not the only company expressing an interest. "There are a number of other companies from (South) Korea and Europe that we are talking to who are thinking of setting up assembly plants in Pakistan," he said, without naming the firms.Japanese strangleholdUS and European cars dominated Pakistan�s roads in the early years after it gained independence from Britain in 1947.But fuel prices made their compact, efficient Japanese rivals more popular and from the 1960s onwards manufacturers like Toyota, Suzuki and Honda gained a stranglehold on the market.Italy's Fiat made a brief foray in the 1990s, while South Korea�s Hyundai as well as Daewoo-owned Chevrolet tried � and failed � to gain a foothold in the 2000s before the financial crisis forced them to exit.Because Pakistan charges heavy duties on imported cars less than three years old, Japanese companies with in-country assembly operations can set prices significantly above the regional average.The bottom-of-the-range Suzuki Mehran costs the equivalent of $6,300 in Pakistan but sells for around $3,900 in neighbouring India. The most popular Corolla 1.3 sedan starts at 1.6 million rupees ($16,000), but buyers have to wait months or pay $1,500 for prompt delivery.The news that Volkswagen was exploring options to enter the Pakistani market has excited car enthusiasts, who are tired of high prices and limited choices."I think it is a great idea because Volkswagen cars are value for money and reliability," said Romano Karim, a fan of the classic Volkswagen Beetles from the 60s and 70s that can often be seen on Pakistan�s roads.Haji Mohammad Shahzad, chairman of the All Pakistan Motor Dealers Association, added that having Volkswagen in the market would help drive costs down."The monopoly of big three could be broken if Volkswagen produces at least 20,000-25,000 cars annually," Shahzad told AFP.Renewed confidenceGlobal auto giants are attracted by Pakistan�s booming economy, which the International Monetary Fund predicts will grow by 4.5 percent in the next financial year. Investor confidence in the medium-sized economy of $232 billion has improved since a new business-friendly government led by Nawaz Sharif took power in 2013, with Karachi�s share market among the world�s top 10 performers in the past year.The country is also undergoing a major construction boom driven by Chinese investment after President Xi Jinping visited Islamabad in April to unveil a $46 billion investment plan known as the China-Pakistan Economic Corridor.Car sales have also boomed thanks to the growth of car leasing and financing facilities. Sales in the 11 months to May this year rose 30 percent from a year earlier, according to industry group the Pakistan Automotive Manufacturers Association.Baber Kaleem Khan, editor of PakWheels.com magazine, said Volkswagen would be well poised to tap into the lower to mid-range market."Pakistani automakers haven�t really had much competition because their respective domains are well protected by monopolistic business practices," Khan told AFP."But given VW�s impressive small-range of vehicles, the German automaker can take the market from the ground up and start working to the top."                                   
 Pakistan-Iran gas pipeline will not benefit from nuclear deal until the agreement eases economic sanctions on Tehran.Last week Prime Minister Nawaz Sharif�s Special Advisor on Foreign Affairs, Tariq Fatmi�s said Islamabad welcomes nuclear deal as it would open doors for economic cooperation with Tehran, including  gas pipeline. However, US State Department spokesman Mark Toner said lifting of sanctions for economic deals with Iran has not started yet.              
 The EU on Tuesday announced a free trade deal "in principle" with Vietnam aimed at removing nearly all tariffs on goods traded between the two countries."We have a deal," EU Trade commissioner Cecilia Malmstroem announced as her office said it was "an agreement in principle" in two and a half years of "intense" negotiations for a free trade agreement."This finely balanced agreement will boost trade with one of Asia�s most dynamic economies," Malmstroem said."It sets a new, better and modern model for free trade agreements between the EU and developing countries, and establishes a good standard for the trade relationship between the EU and Southeast Asia as a whole," she added.The announcement followed a telephone conversation between Malmstroem and Vietnamese Industry and Trade Minister Vu Huy HoangThe two sides had agreed on "all issues of substance" and that the "agreement will remove nearly all tariffs on goods traded between the two economies," Malmstroem�s office said.Malmstroem said the deal would boost opportunities for both EU and Vietnamese companies "by increasing market access for goods and services." She added that more than 31 million jobs in Europe -- which is suffering from high unemployment -- depend on exports."So having easier access to a growing and fast developing market like Vietnam, with its 90 million consumers, is great news," the commissioner said.Malmstroem said the negotiating teams will now work on the finer points, "settle some remaining technical issues and finalise the legal text." The final version will then have to be approved by the EU member states and the European Parliament.            
 Gold hovered near a 5-1/2-year low on Wednesday as the dollar strengthened after comments from a Federal Reserve official backed expectations that the U.S. central bank would hike interest rates as early as next month.Atlanta Federal Reserve President Dennis Lockhart has said it would take "significant deterioration" in the U.S. economy for him to not support a rate hike in September, according to the Wall Street Journal.Gold, an asset that does not earn interest, has taken a hit given rising risks of a US rate hike. The Fed looks intent on lifting rates this year for the first time since 2006 as the U.S. economy strengthens, particularly its labour market.Spot gold was flat at $1,086.90 an ounce by 0606 GMT. Bullion has stayed largely below $1,100 since breaching that key support level in a late July rout that pulled it to as low as $1,077, its weakest since February 2010.U.S. gold for delivery in December slipped 0.4 percent to $1,086.50 an ounce."We suspect that we will see a steady grind lower across most commodity complexes, including gold, largely attributable to the strength of the dollar and poor technicals that will only encourage more funds to further increase their short side exposure," INTL FCStone analyst Edward Meir said.In fresh evidence of a recovering U.S. economy, new orders for U.S. factory goods rebounded strongly in June. The dollar index rose to its highest since April against a basket of major currencies.Gold may languish below $1,100 as investors wait out Friday's U.S. nonfarm payrolls, said MKS Group dealer Samuel Laughlin.Bullion could test $1,080 on Wednesday, he said, following Lockhart's comments although some Chinese demand where onshore premium is around $2 an ounce over the global benchmark is providing some support.Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, dropped further on Tuesday to 21.56 million ounces, the lowest since September 2008.Spot platinum and palladium wallowed near multi-year lows on a global glut and weak demand from the automotive sector.Platinum was unchanged at $951.60 an ounce, after sinking to $940.50 on Tuesday, its lowest since February 2009. Palladium gained 0.5 percent to $595.50 after hitting $586.33 overnight, its weakest since October 2012. Silver slipped 0.4 percent to $14.52 an ounce.                                   
 The New York Times said Thursday its digital paid subscriptions had topped one million for the first time, as it reported a jump in quarterly profits.The prestigious US daily, which is seeking to manage a transition to digital, said it hit the milestone for digital-only subscriptions on July 30, some four-and-a-half years after launching its pay model.The more than one million digital-only subscribers are in addition to Times� 1.1 million print subscribers, who also get access to digital news."This is a major milestone for our digital consumer business, which we launched in 2011 and has continued a strong and steady growth trajectory. It puts us in a unique position among global news providers," said Mark Thompson, president and chief executive of the New York Times Company."We believe that no other news organisation has achieved digital subscriber numbers like ours or comparable digital subscription revenue. It�s a tribute to the hard work and innovation of our marketing, product and technology teams and the continued excellence of our journalism."The Times began its online paywall strategy in 2011 and has been emphasising digital as print circulation and advertising decline.In 2012, the company said it took in more revenue from circulation than advertising for the first time.Thompson said international customers represent about 13 percent of the digital subscribers, noting that it was "a percentage we expect will continue to grow very nicely in the coming quarters."Digital traffic was up 27 percent year-over-year, to an average of 60 million monthly users, which helps boost ad revenues, according to Thomson.Ken Doctor, a media analyst at Outsell, said the milestone for the newspaper is "worth celebrating for all who value journalism."But Doctor said the newspaper cannot rest on its laurels."The next generation of Times execs faces this question: What do we build on top of the paywall?" he said in a blog post.This model "can only take the Times so far; it needs to find additional spigots of reader revenue to get past flat revenue and into growth."- Quarterly numbers -The Times said separately that its profit for the second quarter jumped 79 percent from a year ago to $16.4 million.The rise in profit came amid lower costs, while revenues dipped 1.5 percent from a year earlier, to $382 million.Circulation revenues grew, but failed to make up for the drop in advertising revenues.Second-quarter print advertising revenue fell 12.8 percent while digital ad sales grew 14.2 percent. Digital advertising pulled in $48.3 million, or 32.5 percent, of total ad revenues for the quarter ending June 30.Digital ad growth "was again driven by growth in mobile, paid posts and video," Thompson said."Expense management will remain a top priority as we head into the second half of 2015, although our emphasis on digital investment and execution is also more intense than ever."Thompson said he expects to boost readership through partnerships recently announced with Facebook and Starbucks. Facebook delivers "instant articles" through the social network and Starbucks allows its customers access to Times� articles."We expect all of these platforms to contribute to our digital audience and revenue growth," he said.                                   
 The Sui Northeren Gas Pipelines have decided to restore gas supply to CNG sector in Punjab that was closed on July 30.According to a spokesman for the SNGPL, gas supply to all the CNG stations would be restored today (Friday) at 6:00 pm.He said the supply would continue until the next order is issued.            
 Desperate to widen the tax base in a country where less then one percent of the population pay taxes, the Federal Board of Revenue (FBR) has set a target to collect 138,000 more returns during the tax year 2015, officials said on Friday. The FBR has fixed a target of 1.05 million income tax returns during the year due to higher tax rates on non-filers. The FBR last year received 0.912 million tax returns. A senior official at Directorate of Broadening of Tax Base (BTB) of FBR said the FBR was estimating over 100,000 new income tax returns to be filed by the taxpayers during tax year 2015. The return filing for tax year 2015 will be completed by December with the filing by corporate sector. The filing of income tax returns for the tax year 2014 has been increased after measures taken in the budget 2015/2016 and it has increased to 912,000. The total number is still low as 3.5 million registered taxpayers are in the country. The directorate has gathered details of transactions on which tax was paid during 2013/2014 for the purposes of bringing new taxpayers in the system. According to details, Rs19.75 billion was collected from 2.46 million commercial and 0.29 million industrial electricity consumers. Similarly, about Rs52 billion of taxes were collected through withholding mechanism from 136.5 million mobile phone and 5.6 million landline telephone subscribers. In the banking system the FBR recorded 30.5 million transactions including saving accounts, national saving schemes and cash withdrawals on which the tax authorities collected over Rs50 billion. The directorate so far issued 344,572 notices to defaulters. Around 72,000 persons filed returns and paid Rs485 million tax. Through those notices, the directorate created demand of Rs16.87 billion and recovered Rs6.42 billion. During the recovery process the tax authorities resorted to harsh measures in 2,326 cases, which included: freezing of 1,366 bank accounts; issued arrest warrant in 343 cases; attached 195 properties and impounded 422 vehicles.            
 Oil prices fell in Asian trade on Monday, extending weeks of losses after a US report stoked expectations of a global glut of suppliers.US benchmark West Texas Intermediate (WTI) for September delivery was at $43.57, down from $43.87 on Friday in New York -- its lowest close since March 17.Brent crude for September was trading at $48.25 after ending at $48.61 on Friday"It�s still a supply story," Jonathan Barratt, chief investment officer at Ayers Alliance Securities, told Bloomberg News."There is not a lot of upside for oil."Concerns about a global supply glut were stoked on Friday when Baker Hughes said the number of US drilling rigs rose for the third straight week.The count rose to 670, the oil-field services firm reported -- its fifth weekly gain in six -- just days after the US government reported an increase in oil production in the world�s top consumer.A glut in crude oil supply is seen as the main driver for a sharp decline in oil prices that has seen crude slump to almost a third of its mid-2014 peaks.News of rising US production comes as top producing cartel OPEC has refused to cut output, and as investors wait for Iran to ramp up exports after a major deal over its nuclear programme last month.In exchange for curbing its nuclear activities, Tehran will see the lifting of sanctions, which have slashed its oil exports.Investors predict crude prices will remain under pressure for the rest of the year, particularly after trade and inflation data added to concerns about China�s economy over the weekend."We�re expecting oil prices not to recover at all in the second-half," Mark Pervan, head commodity research at Australia�s ANZ bank, told Bloomberg.            
 Federal Board of Revenue (FBR) has announced August 31 as last date for salaried persons and September 30 for non salaried persons to file their tax returns.The deadlines for filing the tax returns is for all existing and new tax filers an official of FBR told APP here on Tuesday.He said the FBR was committed to broadening the tax net for strengthening of the national economy and to enhance tax to GDP ratio.The official said that FBR had collected Rs 140 billion during first month of current fiscal year 2015-16. He said the amount is six percent extra as compared to the previous year as the FBR collected Rs 133 billion in July last  year.The performance of FBR is very encouraging in the start of current fiscal year and figures shows six per cent increase in collection of taxes he added.He said that FBR was aiming to issue the notices to those non compliant persons who have not returned their tax files.He said that the FBR s administrative reforms were gradually leading to improvement in tax structure and revenue collection. The reforms will continue for addressing the issue of tax compliance and administration he said.The FBR Spokesman said the government directed all Chief Commissioners of regional tax office to accelerate the efforts for the broadening of tax base.                                   
 China�s central bank on Tuesday devalued its yuan currency by nearly two percent against the US dollar, as authorities seek to push market reforms and bolster the world�s second-largest economy.The surprise move marked the biggest drop since China reformed its currency system in 2005 by unpegging the yuan -- also known as the renminbi (RMB) -- from the greenback.It should make the country�s exports more competitive overseas, but analysts said it could prompt anger in the US.The People�s Bank of China (PBoC) set its daily reference rate for the yuan at 6.2298 to $1, compared with 6.1162 yuan the previous day, effectively 1.86 percent lower.The change came amid speculation China is preparing to widen the yuan�s two percent trading band for the first time since March 2014.The range is calculated from a central "reference rate" each day. Before Tuesday, Chinese officials said they based the fixing on a poll of market-makers, but the PBoC�s move means it will now also take into account the previous day�s close and other factors.Beijing has so far kept a tight grip on the currency�s value on fears major swings and volatile capital flows could present financial risk and reduce its control over the economy.That has made the yuan far more stable than other major global currencies and a two percent move in its value is dramatic -- before Tuesday�s announcement it had traded within a roughly 0.4 percent band for four months.            
 Oil prices fell in Asia Tuesday as dealers focused on an upcoming US energy report for clues about production and demand levels in the world�s top crude consumer amid abundant global supplies.US benchmark West Texas Intermediate for September delivery fell 47 cents to $44.49 while Brent crude for September eased 45 cents to $49.96 in mid-morning trade.The US Energy Information Administration will release the latest US stockpiles report for the week to August 7 on Wednesday.Analysts said dealers will focus on production after it rose 52,000 in the previous week, slightly offsetting a 4.4 million drop in overall crude reserves that indicated healthy demand.London-based research house Capital Economics said the main drivers pressuring oil prices were "signs of a recovery in US production and buoyant OPEC supply".Dealers predict a slowdown in US output -- and increased demand during the summer driving season -- could whittle down a huge global glut that has been a key reason prices collapsed from a peak of around $120 in June last year.The Organisation of the Petroleum Export Countries� (OPEC) decision to maintain its output level at around 30 million barrels a day despite sagging demand is also seen as a reason for the abundant supplies.The move is seen as an attempt by the producer cartel�s kingpin Saudi Arabia to defend its market share as it fends off competition from US shale oil.That policy may be working, with the latest drop in prices prompting "more Western oil companies to shelve investment plans, which will feed back into slower growth in non-OPEC production," Capital Economics said.            
 In a bid to increase the number of income tax returns, the Federal Board of Revenue (FBR) has made mandatory for all salaried persons having taxable income to file income tax returns electronically from Tax Year 2015.Through SRO 791(I)/2015 issued on Tuesday, the Income Tax Ordinance, 2001 has been amended to make it mandatory for all individuals earning taxable income to file tax return electronically for the tax year 2015, for which the last date is August 31, 2015. Tax experts strongly criticised the move. They said salaried individuals were a soft target, and by forcing salaried persons for filing returns the tax authorities were trying to achieve their desired number.Earlier, the law required a person earning Rs500,000 per year to file tax return electronically. While salaried persons under threshold for income tax payment, ie Rs400,000 were also required to file returns, but it was not mandatory through e-filing.Muhammad Zubair, President, Karachi Tax Bar Association (KTBA) said the changes made by the FBR are disappointing, as this shows they only want to increase the numbers instead of increasing the tax revenue.He said that a large segment of salaried persons fall in the slab of Rs400,000 to Rs500,000, which also includes the lower cadre of any corporate entity. �In some cases even a peon of an entity will be filing tax return,� he added.It is pertinent to mention here that a large number of the salaried class already files income tax returns on an annual basis. According to data obtained from a report of Tax Reform Commission, around 881,262 total returns were filed in tax year 2013, out of which salary returns were 235,117.Rehan Jafri, General Secretary, Pakistan Tax Bar Association (PTBA) criticised the FBR move and asked the authority to first enable its e-portal to handle such a huge number of filings.He said that the last date of filing the income tax return is August 31 and so far the return forms have not been issued by the FBR. �It will create difficulties for taxpayers to file in a short span of time,� he said, adding the FBR should have issued the form on July 1 allowing at least two months for filing preparation.The FBR�s new online software for filing income tax returns IRIS (Integrated Risk Information System) was criticised last year for deficiencies. Tax experts believe that without addressing the issues it will be another failure for FBR.Shahid Hussain Asad, Member Inland Revenue (Policy) and official spokesman said the measure had been taken to ensure electronic availability of taxpayers� data.As per tax laws all the individuals are also required to file a wealth statement along with their return.            
 Oil prices extended losses in Asia on Wednesday as dealers worried about China�s economy following its surprise currency devaluation, while oversupply concerns also added to downward pressure, analysts said.US benchmark West Texas Intermediate (WTI) for September delivery fell five cents to $43.03 while Brent crude for September slipped 35 cents to $48.83 in late-morning trade.WTI on Tuesday sank to its lowest level since March 2009, while Brent also fell in London, after China�s central bank moved to devalue its currency by nearly two percent against the US dollar.The People�s Bank of China again lowered the daily fix that sets the value of the Chinese currency against the greenback on Wednesday by 1.62 percent, sending a new shockwave through financial markets."The Chinese yuan continues to weaken for the second day, which could suggest further weakening of oil prices," said Daniel Ang, an investment analyst at Phillip Futures in Singapore.Investors fear Beijing�s move signalled concerns over growth in the world�s second-largest economy and top energy consumer, which came after data published over the weekend showed a slump in Chinese trade.It also pushed up the greenback, which strengthened further against Asian currencies on Wednesday, which hurts dollar-denominated commodity prices by making them more expensive for international buyers.Ang said prices were also under pressure after the Organization of the Petroleum Exporting Countries (OPEC) said output in July rose by 100,700 barrels per day from the previous month to 31.5 million barrels per day."An increase in OPEC production is certainly not ideal for the oversupplied market at this point in time," Ang said.The producer cartel�s refusal to cut its output level despite sagging demand is seen as a reason for a prolonged global oversupply, which has seen prices fall to almost a third of their mid-2014 peak.Analysts have said the move is an attempt by the cartel�s kingpin Saudi Arabia to defend its market share as it fends off competition from US shale oil.Dealers will next focus on US crude stockpiles data to be released on Wednesday for clues on demand in the world�s top crude consumer, Ang said.            
 Asian shares were mixed Thursday, as an afternoon rally on Wall Street gave investors room to breathe after concerns about China�s economy jolted global financial markets.The dollar inched higher, after taking a knock in New York from speculation the US Federal Reserve will delay hiking interest rates following China�s devaluation of the yuan.Tokyo opened flat, easing 0.23 points, Sydney added 0.57 percent and Seoul dipped 0.1 percent after the South Korean central bank left its key rate at a record low.Hong Kong added 0.60 percent and Shanghai rose 0.19 percent in early deals.China cut the rate of the yuan against the dollar for the third consecutive day Thursday, reducing the reference rate by 1.1 percent from the previous session.The reduction comes after two previous cuts, on Tuesday and Wednesday, sparked concerns that China�s economy, long an engine for world growth, is weaker than previously thought.The move fanned fears the Chinese currency could be set for a prolonged depreciation and send shockwaves reverberating through global financial markets.Commodities along with stocks in Europe and Asia fell, safe-havens gold and bonds rose and currencies in Asia-Pacific suffered their worst two-day selloff since 1998.But an afternoon comeback on Wall Street, led by Apple and energy stocks, and news China�s central bank had intervened to stop the yuan tanking on Wednesday cheered dealers.The intervention "is a hopeful sign that the authorities are not shooting for a maxi-devaluation," Tim Condon, head of Asian research at ING in Singapore, told Bloomberg News.In Tokyo forex trade, the dollar fetched 124.30 yen early Thursday against 124.24 yen in New York late Wednesday.The euro exchanged hands at $1.1156 and 138.67 yen compared with $1.1159 and 138.63 yen in US trade.Oil prices were mixed on Thursday after edging up from a six-year low in New York on news US oil supplies declined and the dollar retreated.US benchmark West Texas Intermediate for delivery in September fell three cents to $43.27 and Brent crude for September rose five cents to $49.71 in morning Asian trade.Safe-haven gold fetched $1,121.23 compared to $1,117.50 late Wednesday.In individual shares, Australia�s Telstra fell two percent to Aus$6.12 after the telecoms company said annual net profit fell one percent Aus$4.23 billion after the sale of Hong Kong mobile business CSL.Chinese Internet giant Alibaba closed more than five percent lower in New York at $73.38 after a disappointing quarterly report showed sales growth cooling.            
 CNG stations in Sindh will remain closed for three days per week, a spokesman for the Sui Southern Gas Company (SSGC) said. According to the spokesman the CNG stations will remain closed on Monday, Wednesday and Friday. The stations will be shut from 8:00AM in the morning on the above mentioned days for 24 hours.             
 Oil prices resumed their decline in Asia Monday as a global glut of crude supplies showed no signs of abating in the face of sluggish demand, analysts said.US benchmark West Texas Intermediate (WTI) for September delivery fell 63 cents to $41.87 a barrel in late-morning trade, the lowest since March 2009. Brent crude for October, a new contract, was down 65 cents to $48.54.WTI and Brent�s September contract rose in New York on Friday after closing at their lowest level in six and a half years in the prior session.But oil came under renewed pressure in Asia after the latest data showing the number of rigs drilling for US oil increased last week, the sixth rise in seven weeks, analysts said.The news added to fears of a prolonged global surplus as output from the Organization of the Petroleum Exporting Countries and the United States remains robust despite the tumbling prices."The combination of elevated stockpiles in the US and increasing production from OPEC, sluggish demand growth, and a stronger US (dollar) would continue to pressure oil prices," said Bernard Aw, market strategist at IG Markets in Singapore.The dollar strengthened in Asia on Monday after solid data boosted expectations of an imminent US rate rise, after China�s shock devaluation of the yuan last week hurt Asia-Pacific currencies.As oil is traded in the US currency, a strong dollar makes it more expensive for international investors, dampening demand."The devaluation of the yuan by China led to the weakening of other emerging market currencies," said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at professional services firm EY."This spells negative news for crude as a strong US dollar makes crude expensive for importing countries, thereby curtailing demand."Gupta said traders will be watching Chinese home prices data due for release Tuesday for further clues on the health of the world�s second-largest economy.Traders will also comb through the minutes of the US central bank�s meeting in late July, due for release Wednesday, for signs on when the Fed will raise interest rates."We continue to expect further short-term downside in WTI crude over the next few months," the Australia and New Zealand Banking Group (ANZ) said in a market commentary.            
 BuzzFeed, the website which lives off viral and "shareable" news, got a major boost for expansion plans Tuesday with a $200 million investment from NBCUniversal.The deal with NBCU, a division of the media and cable conglomerate Comcast, calls for "strategic partnerships" between the two groups, which could allow sharing of content between BuzzFeed and the vast NBC television operations.The deal values the "social news" pioneer at some $1.5 billion, according to several media reports. The companies did not comment on the valuation terms of the investment."It�s a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences," said Jonah Peretti, BuzzFeed�s founder and chief executive.The news comes just a week after NBCUniversal announced a similar $200 million injection into another digital news group, Vox Media, and highlights the potential seen in online news as consumers move away from traditional media."BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways," said Steve Burke, CEO at NBCUniversal."They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players. We are pleased to be making this investment and for our companies to partner and work together."The investment follows Monday�s announcement that BuzzFeed would launch a Japanese news website in a partnership with Yahoo Japan, the latest step in a global expansion push.BuzzFeed is one of the largest pure-play digital websites, claiming to reach some 200 million users worldwide.With its recent expansion, the group says some 45 percent of traffic now comes from outside the United States, having launched editions in Britain, Brazil, France, Australia, India, Germany, Mexico and Canada.BuzzFeed, founded in 2006 by Huffington Post co-founder Peretti, was known for offbeat "shareable" news but has been investing in new staff and technology as it expands globally.NBCU was created as a joint venture with the NBC broadcast group and Universal Pictures, previously controlled by France�s Vivendi. Comcast took full control of NBCU in 2013.- Profiting from sharing -While BuzzFeed�s finances are not made public, documents leaked last week by the website Gawker suggested it is making a profit -- some $2.7 million in the first six months of 2014 and $7 million in 2013.Rebecca Lieb, an independent media consultant and analyst, said BuzzFeed "has successfully captured mass eyeballs, which is difficult in an era of highly specialised and topical information."BuzzFeed "is good at picking topics which are light and entertaining and shareable," Lieb told AFP.Additionally, she said BuzzFeed has successfully reached younger audiences who often don�t read newspapers or subscribe to cable television, and that this group is attractive to advertisers.BuzzFeed also has been able to optimise its content by using algorithms that show which stories are viewed and shared most often, and prioritising these items, Lieb said.She added that the website is strong in "native" advertising, which includes "sponsored" and similar content.The tie-up with NBCU offers potential, Lieb said, such as snippets of Olympic videos which could be offered to BuzzFeed and drive consumers to watch more on television.Kenneth Lerer, BuzzFeed�s executive chairman, said in a statement that the tie-up could mean "collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands."Last year, BuzzFeed said it had secured $50 million in a deal that reportedly valued it at $850 million. But the latest injection vaults it into the club of "unicorns," a term used for startups valued at over $1 billion.Vox is believed to be worth over $1 billion following its recent cash infusion from NBCU. And Vice Media last year secured some $500 million which boosted its valuation to a reported $2.5 billion.One of the largest digital-only news groups is the Huffington Post, whose future is uncertain after its parent company AOL was sold this year to telecom giant Verizon.            
 Oil prices fell in Asia Wednesday, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world�s top economy.US benchmark West Texas Intermediate for September delivery fell 17 cents to $42.45 a barrel and Brent crude for October dipped 23 cents to $48.58 a barrel in late-morning Asian trade.Both contracts eked out modest rebounds in closing deals in New York on Tuesday.But analysts said prices were unlikely to stage a sustained rally because the market remains awash with supplies from the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia.Oil traders are also watching a report on US crude inventories in the week ending August 14 due later Wednesday to measure demand in the world�s biggest economy and large producer of shale oil.Analysts expect inventories to decline, but also said stockpile levels remain high after a weaker-than-hoped rise in demand during the summer driving season."Output in the US has turned out to be more robust than many had previously assumed, as shale firms have dramatically slashed costs and increased their efficiency rather than cutting production," said Thomas Pugh, commodities economist at research firm Capital Economics.Demand growth is not keeping pace with supply, especially with the slowdown in China, the world�s top energy consuming nation and its second-biggest economy.Iran last month also reached an agreement with major world powers to rein in its nuclear ambitions in exchange for the lifting of crippling Western economic sanctions which have restricted its oil exports."This renewed decline in oil prices has largely been driven by a combination of concerns about demand, notably from China, and continued strong growth in supply," said Pugh."OPEC has increased its output by almost 1.4 million barrels per day since January and the potential return of exports from Iran early next year could exacerbate the supply glut," he said.            
 Global oil prices hit a new six and a half year low Thursday, nearing the key $40 a barrel level as a surprise rise in US stocks fuelled supply glut fears.US benchmark West Texas Intermediate for September delivery sank to $40.21 per barrel, the lowest level since March 2009. It later stood at $40.30, down 50 cents from Wednesday�s close.Brent North Sea crude for October delivery meanwhile slid to $46.31 a barrel, a point last seen in mid-January and not far off a six-year nadir. The contract later stood at $46.40, down 76 cents."US stockpiles unexpectedly expanded when the market was looking at a contraction, which heightened the global oversupply concerns," said Bernard Aw, a market strategist at IG Markets."This added pressure to crude prices, and we see WTI drop below $41, heading towards the key $40 level. We could see more downsides, given that the current conditions remain unfavourable to oil."The US Department of Energy on Wednesday said oil stockpiles rose 2.6 million barrels in the week ending August 14, and reported a 300,000 barrel rise at the closely watched Cushing, Oklahoma trading hub.The surprise jump in inventories at a time when they normally fall added to concerns of a global surplus, particularly as signs emerge that demand is faltering in top energy importer China.US banking giant Citigroup said WTI could fall to $32 a barrel, a level not seen since the throes of the financial crisis, pressured by excess supplies."Oil balances point to further oversupply throughout 2015 begging the question how low can oil go," it said in a market commentary, adding that hitting the 2008 low of $32.40 a barrel "is a conceivable reality."But Daniel Ang, an investment analyst with Phillip Futures in Singapore, said he expects WTI to be supported at $40 a barrel in Thursday�s trading session."Technically, we are still seeing a very bearish momentum, however for prices to break below $40 is going to be an arduous task," he said."We see $40 for WTI to be a strong psychological support."            
 The Federal Board of Revenue (FBR) has initiated a drive to identify income sources of luxurious vehicles� owners to ensure their tax return filings, confiscating vehicles on non-compliance, official sources said on Thursday.The sources said tax officials are obtaining data of registered motor vehicles above 1,000cc to determine the sources of income of their owners to increase filings of tax returns.They told The News that Inland Revenue asked local car assemblers and customs authorities to share the last five-year data of purchased vehicles with the tax department.�We are comparing this with the data provided by the provincial motor vehicle registration authorities,� said a source.The sources said the FBR has started issuing notices to the owners of vehicles and around 422 vehicles have been seized on non-compliance.Motor vehicle registration authorities of various cities have so far shared data of 821,000 registered vehicles above 1,000 CC, while Indus Motors Co Limited, Pak Suzuki Motors Co Ltd and Honda Atlas Motors Ltd have provided the details of 73,200, 153,700 and 45,000 vehicles, respectively.The sources said the customs department will also provide the details of vehicles imported during the past five years, including those cleared under the amnesty scheme announced in 2013.They said a number of smuggled vehicles are being used, especially in rural areas.An official at Regional Tax Office (RTO) Karachi said vehicles were also cleared on fake identity for which customs authorities are responsible.The customs cleared around 51,200 vehicles under the amnesty scheme 2013 and earned the FBR Rs16.2 billion as duty and taxes.�The amnesty was granted on clearance and a vehicle owner is required to file income tax returns and declare source of income,� said the source.However, the FBR failed to identify the real ownership due to apathy of customs department fraught with corruption and misconduct.The Federal Tax Ombudsman, in 2014, released a detailed report on irregularities in clearance of imported vehicles.�Granting amnesty to smuggling is counterproductive as it promotes smuggling, emboldens smugglers and contributes to black economy,� the report said.It further said luxury vehicles were mostly smuggled to cater to the upper class, adding that therefore the amnesty was more undesirable and against the national interest.�Apart from the conceptual irrational and counter-productivity of amnesty for smuggled vehicles, the amnesty scheme 2013 was allegedly misused for corrupt motives by the customs staff for regularising such vehicles as had either not yet arrived in the country or these were not physically presented or actually seized by the customs,� the report said.Besides, many tampered and stolen vehicles might have been granted amnesty due to weak or non-checking of tampering and absence of any filer for stolen vehicles, it said.�It will be difficult to cross-match the data of imported vehicles with those registered with the provincial authorities in such as scenario,� said a source in the Inland Revenue.            
 The State Bank of Pakistan (SBP) on Friday warned exchange companies on �artificial shortage� of the US currency that dropped rupee further to 104 against dollar amid a frenzy in the currency market.�The artificial shortage of the US currency is a major source of concern,� Abid Qamar, the chief spokesperson of SBP told The News. �The State Bank is strictly monitoring the exchange rate movement in the open market and instructed the exchange companies� heads that they should take necessary actions.�Qamar said the central bank expressed its concerns over the falling rupee value in the open market despite that the bank has allowed exchange companies to import dollars to meet the growing demand for the greenback.�(The central bank) has warned the exchange companies to make all-out efforts for curbing the US currency shortage in the market,� he added.Qamar said recent move in the kerb dollar rate is really a source of worry for the central bank. �The rising supply-demand gap is a source of worry.�The rupee hit 104 against the US currency on Friday at the open market as dollar shortages continued. It was quoted 103.50/103.70 against the greenback.The rupee also breached its support level of 101 and closed at 102.02 versus dollar in the interbank market.The rupee has depreciated 3.5 percent since August 2014. The [interest] spread on buying and selling of the dollar between interbank and open markets has widened to Rs2. The State Bank has clearly instructed that the spread should not exceed 25 paisas.Malik Bostan, President Forex Association of Pakistan said the open currency market was volatile due to rise in dollar demand from Hajj pilgrims and imposition of 0.3 percent withholding tax on banking transactions for non-filers, who are now trading in dollar to avoid the tax.Hajj flights started from August 17 and will end next month. Therefore, Bostan said people have started buying dollar and Saudi Riyal for their journey.Meanwhile, the head of the central bank�s foreign exchange department, in a meeting with the representatives of exchange companies, directed them to bring stability in the kerb market by ensuring smooth supply of the foreign currencies.Bostan said the SBP ordered the exchange companies, during the meeting, to use biometric verification system in foreign exchange dealings for due diligence of the customer.�The SBP said it would provide foreign exchange to the exchange companies to curb the shortage,� Bostan claimed.�It was also suggested that companies would not sell or buy single dollar without providing the CNIC (computerised national identity card) from the customer.�            
 Suddenly the online news business is red-hot. Money is flowing into digital news ventures at an unprecedented pace, as investors anticipate an accelerating shift away from traditional media, and new ways to generate revenue from news.BuzzFeed made news this past week with a $200 million capital injection from Comcast�s NBCUniversal, and with the announcement of a joint venture with Yahoo Japan for Japanese readers.Earlier this month, Vox Media also secured $200 million from NBCU as the startup seeks to ramp up its news websites including Vox.com, The Verge, Re/code and Bleacher Report.Vox and BuzzFeed joined the club of "unicorns," or venture-funded startups worth at least $1 billion, a group which also includes Vice Media, which unveiled a $500 million funding round last year.The flood of capital to the sector suggests confidence in the ability of digital media to connect with readers -- especially younger audiences which eschew traditional media -- and generate profits, say analysts."Right now it�s an arms race. These are companies growing quickly and they have to grow quickly," said Ken Doctor, a media analyst with the research firm Outsell.Doctor said a key for these organization is capturing the attention of "millennials," or young adults born after 1980 who rarely subscribe to print publications or cable television, and who get most of their content online."Marketers have discovered the millennial generation as they get more earning power," he told AFP.Interestingly, much of the money flowing into these organizations is coming from traditional media, seeking fresh ways to deal with a transition to digital news.The Murdoch family�s 21st Century Fox is an investor in Vice Media, for example, while Time Warner has invested in the online news site Mashable."It�s as much a hedge as anything else," Doctor said."It�s a lot of money but not a bank-breaking amount."Digital eats everything The analyst added that big media groups which saw troubles for print a decade ago are now waking up to digital disruption of television.With consumers slowly moving away from cable TV bundles, "you can see the fault lines," Doctor said. "Digital eats everything, and television is not immune."The more successful media startups have found ways to connect and use technology better than legacy firms, say some analysts."BuzzFeed and Vox and other high-profile startups make the claim they are not just content companies, they are tech companies," says Nikki Usher Layser, a journalism professor at George Washington University specializing in digital media.This means "using data science to understand how information is spreading" and being shared, she said, to better adapt news feeds and enable advertisers to reach specific segments of readers.BuzzFeed is known for using technology to help understand how news goes viral, while Mashable uses its own system for this. AOL, which owns news sites such as The Huffington Post and TechCrunch, is known for ad technology which measures effectiveness of online messages. Old, new media mergeRebecca Lieb, an independent media analyst and consultant, said she sees benefits from bringing old and new media together.Comcast�s NBC can reach young audiences by sharing video from programming including the Olympic Games."We�re seeing an era of declining television viewership and increased cord cutting," she told AFP."We have a large number of millennials who are never going to sign up for television packages so I�m sure NBC is hoping that BuzzFeed can help drive new audiences."For journalism, the good news is that this trend is driving investment in content, which means more hiring and in-depth reporting at a time when traditional newsroom job losses are accelerating.These large venture-funded news groups have been adding staff, along with smaller ones like Ozy, Fusion and Vocativ. Additionally, eBay founder Pierre Omidyar has pledged to invest $250 million in his online news operations, which include investigative site The Intercept.Doctor said most new media groups spend 60 to 70 percent of their budgets on news and content compared with just 12 percent for the newspaper industry."These companies have a belief that good content and appropriate content is a business driver," Doctor said.Still, it remains unclear if the companies are seeing an investment bubble which gives them unjustifiably high valuations."We have seen scant evidence of actual return of money to investors," Layser said. "We have not seen a magic bullet that is going to make a clear pathway to profitability."            
 With stock markets in Asia tumbling including the Karachi Stock Exchange (KSE) the Pakistani rupee fell to its 17 month low against the US dollar.The dollar rose by RS2.03 in the interbank trading at Rs104 against the rupee. A spokesman for the State Bank said they were monitoring the trading of the dollar. The spokesman added that currency dealers have been told to lower the sale and purchase of dollars.             
 Asian stocks sank deeper into crisis Monday, with Shanghai posting its largest intra-day fall since 2007 as growing concerns about China�s slowing economy rattled equity investors worldwide. Oil prices fell further after slipping below $40 a barrel for the first time in six years, as weak Chinese manufacturing data deepened worries about the slowdown in the world�s number two economy.China-linked shares led the falls, with Shanghai losing more than 8.50 percent at one point before recovering slightly to a 7.52 percent decline in afternoon trading -- wiping out all this year�s gains. Hong Kong was down 4.77 percent.Tokyo closed down 4.61 percent, or 895.15 points, at a six-month low of 18,540.68. Seoul dropped 2.47 percent or 46.26 points to 1,829.81 and Sydney lost 4.09 percent, or 213.3 points, to finish at a two-year low of 5,001.3.Regional shares, as measured by the MSCI Asia Pacific Index, slumped to a two-year low Monday after suffering the worst week for three years. Taipei posted its worst ever intra-day slump of almost 7.50 percent."Today has all the hallmarks of being one of the worst trading days of the past five years," said Evan Lucas at IG Markets."The reaction from Asia today will be symptomatic of the current investor sentiment and belief that a hard landing (of China�s economy) is inevitable."Asia�s losses followed a steep fall in US and European stocks on Friday, while the price of several commodities plunged to multi-year lows and emerging market currencies took a battering. Global equities have lost more than $5 trillion in value since China�s shock currency devaluation on August 11 sparked fears its economy is slowing more than thought. Data on Friday showing Chinese manufacturing activity slowed to a 77-month low added to the gloom, signalling that even a campaign by Beijing to stimulate growth by cutting interest rates and boosting lending is not working. Pension fund buying equitiesMore than 750 stocks listed in Shanghai fell by their maximum 10 percent daily limit on Monday, among them many of the brokerages which helped to spark a year-long rally that saw shares soar 150 percent before they collapsed in June. Chinese authorities have since launched unprecedented measures to support shares. On Sunday state media said the huge national pension fund would now be allowed to buy equities, in a fresh bid to prop up the market. The fund, which had some 3.5 trillion yuan ($550 billion) in net assets at the end of 2014, will be able to invest up to 30 percent of that in equities.But local investors fear even Beijing�s huge firepower will not be enough to stop the rout in Chinese shares, particularly after Shanghai shares fell through the key 3,500 point mark."This is a real disaster and it seems nothing can stop it," Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co., told Bloomberg News."If we don�t cut holdings ourselves, the fund (managed by his firm) faces risk of forced closure. Many newly started private funds suffered that recently. I hope we can survive."Oil prices also fell, after breaking below the $40 barrel for the first time in six years Friday on concerns about waning demand in China, the world�s top energy importer.Data showing the number of US drilling rigs rose last week, despite the slump in prices, added to concerns a global supply glut will last for years.US benchmark West Texas Intermediate for October delivery fell $1.28 to $39.58 while Brent crude for October eased $1.45 to $44.65.Jitters over China and the global economy saw traders drop the dollar and move into the yen -- a safe haven in times of turmoil and uncertainty -- while the currencies of Malaysia, Thailand and South Korea all hit fresh multi-year lows.The greenback fell to 121.23 yen in Asia Monday, down from 122.06 yen in New York Friday. The euro was at $1.1425 and 138.51 yen, from $1.1386 and 138.97 yen.Gold traded at $1,153.24 compared to $1,154.45 late Friday.In other markets:-- Taipei closed down 4.84 percent, or 376.58 points, at 7,410.34 after posting their biggest ever intra-day decline of 7.49 percent.Taiwan Semiconductor Manufacturing Co lost 4.96 percent to Tw$115.0 while Hon Hai Precision closed 4.56 percent lower at Tw$81.6.-- Wellington dropped 2.50 percent or 143.87 points to an eight-month low of 5,607.32.Heavyweight Fletcher Building was among the biggest losers, down 3.98 percent at NZ$7.23, while Air New Zealand slipped 0.93 percent to NZ$2.67.                                   
 Following Asian stock market trend, Karachi Stock Exchange (KSE) shed over 1,419 points at the closing of Monday's trading.With over 1,400 points down, the KSE-100 index was recorded at 33,100.The KSE witnessed a three month low and market capitalisation suffered a loss of almost Rs270 billion. Out of 100 companies, 81 have hit 5 per cent lower lock. Biggest markets of Asia including Hong Kong, China and Japan also plummeted on Monday.The fall in the Asian markets will likely to hit world stocks.                                   
 Crude prices dived in Asia on Monday, with US oil hovering below the key $40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply, analysts said.US benchmark West Texas Intermediate (WTI) for October delivery fell $1.04 to $39.41 while Brent crude for October eased 91 cents to $44.55 in late-morning trade.WTI extended losses after briefly dipping to $39.86 on Friday in New York -- breaking $40 for the first time in six years -- after data showed an increase in US oil rigs despite ample global supplies."Soft manufacturing data from China and continued increase in weekly rig count led to the sharp sell-off" in oil prices, said Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy EY.The Baker Hughes US oil rig count showed producers in the world�s top crude consumer added two more rigs in the week to August 21, the same number as the previous week, bringing the overall tally of active drilling oil rigs to 674.A much weaker-than-expected manufacturing report on Friday also added to concerns energy demand is also waning in China.The Caixin�s Purchasing Managers� Index came in at 47.1 this month, falling from 47.8 in July and its worst reading since March 2009. A reading below 50 signifies contraction in activity.The poor data fuelled concerns about the world�s second-largest economy and top energy importer -- already heightened by Beijing�s unexpected devaluation of the yuan two weeks ago -- at a time when high production levels and weak demand growth are weighing on prices.Oil dealers will next be scrutinising preliminary US second-quarter GDP data to be released on Thursday, analysts said.The data could be key to the Federal Reserve�s timeline for raising interest rates, with predictions for a September raise fading in the face of global growth jitters.Interest rate adjustments are closely watched by crude investors as an increase usually leads to a pick-up in the dollar. A stronger greenback makes dollar-priced oil more expensive for buyers using weaker currencies, denting demand.                                   
 The State Bank of Pakistan (SBP) said on Tuesday that it is cognisant of the global developments related to markets and is keenly observing its impact on the domestic economy as well. �SBP believes that Pak Rupee will remain stable going forward and may even strengthen depending on the relative movement of international currencies,� said an SBP statement today.On Monday (August 24), financial markets across the globe witnessed turbulence and the panic was most visible in the stock markets. Earlier, the foreign exchange markets also had their share in this global turmoil. Since the start of devaluation of Chinese Yuan on August 11, currency depreciation around the globe particularly in the developing countries has accelerated. Many of these countries have allowed their currencies to depreciate primarily to maintain their trade competitiveness against China. Pakistan is also a part of the global economies and cannot remain immune to the developments around the globe. This fact raised expectations about a possible impact on the domestic economy and a downward movement of the exchange rate. As a result on August 24, 2015 Pak Rupee depreciated against the US Dollar to close at Rs 104.50. This translates into a single day movement of the currency by 2.4 percent and a cumulative depreciation of 2.6% percent since the beginning of this fiscal year. It is important to realise that this positioning is driven by international currency movements and not due to any weakness in the domestic economy. The macroeconomic stability achieved through sustained improvements in economic fundamentals is very much intact and these recent developments do not pose any serious challenge to it.�Our external sector is robust and reserves are at historically high level.�The statement added that, �Nevertheless it is keenly watching the international economic developments and its impact on our domestic economy. It is also watching the rent seekers who tend to take advantage of such situations and cause damage to the economy by their speculative activities.� �SBP stands ready to take any measure to ensure stability in the markets and will deal with such unscrupulous elements with strong measures.�            
 The Asian Development Bank said Tuesday it has approved a new assistance programme for Pakistan worth $1.2 billion annually, to improve infrastructure and create jobs. The Manila-based bank said Pakistan, which has suffered sluggish growth in recent years, was on track to meet targets for cutting poverty. But it said overall development was below potential and further institutional reforms were needed. Tax collection in Pakistan is tiny, severely hampering the government�s ability to manage its finances. A chronic crisis in the power sector -- made worse by poorly targeted subsidies -- is also a major brake on growth. "The main challenge in Pakistan was to deliver higher, sustained and inclusive growth to cut poverty and create productive jobs for the growing labour force," ADB Pakistan country director Werner Liepach said in a statement. The new programme, which runs until 2019, will target six sectors including energy, transport and public sector management, the ADB said. The funds will support improvements to highways and provincial roads, as well as to power generation and transmission and bus rapid transit schemes in Karachi and other cities.                                   
 Shanghai stocks tumbled on Tuesday, extending the worst daily plunge for eight years after worries about China's faltering economy sent world financial markets reeling, but other Asian markets bounced back from heavy early losses.A slump in Chinese shares sparked panic across global markets on Monday, with the Dow Jones Industrial Average in New York initially diving more than 1,000 points, or six percent, before trimming its losses, while European stocks fell sharply.The dollar and commodity prices plumbed fresh multi-year lows in New York, with US oil finishing below $40 a barrel for the first time in six years as fears of a global slowdown hit commodity markets.But Asian bourses cast off heavy early falls Tuesday to post gains by late morning, with Tokyo up 1.10 percent by the break after closing at a six-month low in the previous session.Hong Kong was 1.62 percent higher by the break while Sydney added 2.30 percent, Seoul climbed 1.32 percent and oil led a recovery among commodities as dealers took a breather after Monday�s rout."Our bottom line is that the world�s still not a bad place," David McDonald of Credit Suisse told Bloomberg News."It's just a case of whether you would want to rush in now or perhaps wait until it settles down a bit more."China's benchmark index in Shanghai opened down 6.41 percent before recovering slightly to stand 4.33 percent off by the break.Slowing growth in Asia's largest economy has long kept investors on edge but China's shock devaluation of the yuan two weeks ago, following a string of weak economic data, has riled world markets.Fears Beijing could taper a massive share market rescue package helped push Shanghai down 8.49 percent on Monday, wiping out the year's gains in its biggest daily slump since February 2007. Capital Economics said investors had been "overreacting about economic risks in China", arguing that the "collapse of the equity bubble tells us next to nothing about the state of China's economy".'Step up'Chinese shares have been on a roller-coaster ride after a year-long debt-fuelled rally collapsed in mid-June, prompting the government to unleash a vast support package that has included using state vehicles to support the market.In the latest move, Beijing said on Sunday it would allow the state pension fund, which had 3.5 trillion yuan of assets at the end of 2014, to buy stocks.But mainland investors are worried that support could start to taper and they are now waiting to see if the "national team" will intervene further, or China�s central bank will loosen monetary policy.The People�s Bank of China, the central bank, said on Tuesday it had injected 150 billion yuan ($23 billion) into the money market to ease tight liquidity. "With such an unreasonable sell-off, they (regulators) should at least encourage the market and step up," Haitong Securities analyst Zhang Qi told AFP. The dollar remained weak at 118.78 yen, little changed from 118.51 yen in New York trade Monday, but dramatically weaker than 122.06 yen seen in US trading on Friday.The euro stood at $1.1570 and 137.50 yen in Tokyo, compared with $1.1606 and 137.55 yen in New York overnight.Commodity prices recovered after Monday�s rout, although oil remained under pressure as dealers expect a global supply glut to continue for the coming years.US benchmark West Texas Intermediate (WTI) for October delivery was trading at $38.67 in mid-morning Asian trade after closing at $38.24 a barrel on the New York Mercantile Exchange.Brent North Sea crude for October, the international benchmark, was at $43.13 a barrel after closing at $42.69 a barrel in London, its lowest level since March 2009.Safe-haven gold traded at $1,153.60, slightly down from $1,154.00 late on Monday but still some seven percent higher than its low this month.                                   
 Crude prices and most commodities rebounded in Asia Tuesday but remained under pressure following a global sell-off triggered by mounting fears over China�s faltering economy, the world�s top user of industrial metals and energy.US benchmark West Texas Intermediate (WTI) for October delivery was trading at $38.67 in mid-morning Asian trade after closing at $38.24 a barrel on the New York Mercantile Exchange, its first below-$40 close since February 2009.Brent North Sea crude for October, the international benchmark, was at $43.13 a barrel after closing at $42.69 a barrel in London, its lowest level since March 2009.The Bloomberg Commodity Index, which tracks 22 raw materials, was up 0.58 percent to 86.3507, after losing 2.2 percent on Monday to close at its lowest point since August 1999."There is some stability in crude and commodities in Asian trading after the global rout but I am not holding my breath that it will last," said Bernard Aw, market strategist at IG Markets in Singapore."The main catalyst for the market today will be if and when the Chinese authorities are going to intervene further to stabilise the volatility in the equities market," he told AFP."Market participants remained gripped by fear... Slowing global growth, commodity slumps, deflation risks, Chinese slowdown, timing of the Fed hike are all possible drivers of fear," he added.World equity markets have seen some $5 trillion wiped off their value since China�s surprise devaluation of the yuan on August 11 added to fears the world�s second-largest economy is weaker than had been thought.Chinese shares have been extremely volatile since a huge debt-fuelled rally, which saw the market rise 150 percent in 12 months, collapsed in mid-June prompting Beijing to unleash unprecedented measures to support the equity market.Investors are fearful that China�s faltering economy will curb demand for industrial materials that have helped feed its astonishing growth rate in recent years.On oil markets, a drop in buying from China, the number-one energy importer could be catastrophic at a time when international markets are already heavily oversupplied and could soon see resurgent production from Iran after its nuclear deal."None of the support for oil are holding strong enough to reverse the current bearish momentum," said Daniel Ang, investment analyst at Phillip Futures in Singapore."We believe that the lows of $32.40 and $36.20 for WTI and Brent could be a floor and would think that prices should hold there," Ang added.Gold prices remained steady, boosted by prospects of increased demand due to its status as a safe bet in times of turmoil.Bullion for immediate delivery rose 0.1 percent to $1,156.01 an ounce in Singapore morning trade, according to Bloomberg generic pricing, after declining 0.5 percent on Monday.Resources stocks recovered slightly after tumbling on Monday. BHP Billiton was trading 1.40 percent higher at Aus$23.20 while Fortescue was up 8.56 percent to Aus$1.77.            
 Asian stocks flip-flopped on Wednesday after China cut interest rates in a bid to restore confidence in its sagging economy, with trading volatile after days of heavy swings across world equities.The dollar edged up in Tokyo, after rebounding from this week�s steep losses in New York as nervous investors searched for safety.Tokyo rose 0.40 percent by the break, bouncing after their worst two-day plunge since 2011, and Seoul added 1.05 percent as China�s move to cut rates and free up cash for banks to lend spurred optimism.But Shanghai swiftly gave up gains in opening deals to fall 3.03 percent by mid-morning, and Hong Kong and Sydney both dropped 0.70 percent.China on Tuesday cut its key interest rate and slashed the amount of money banks must hold in reserve for the second time in as many months in a bid to spur growth and end its worst stock market rout in decades.The People�s Bank of China has already cut interest rates five times since November to spur the slowing economy as concerns mount it may miss its seven percent growth target for the year.Fears of stalling growth in China, the world�s number two economy and key driver of world growth, has sent global markets into a tailspin and investors said the cuts alone may not be enough to stem the losses."The authorities have not been intervening, they have been allowing stocks to go down in price. Assuming that continues to be the case on Wednesday, I do see a continued fall in prices," Komal Sri-Kumar, founder of Sri-Kumar Global Strategies, told Bloomberg News.In currency trade, the dollar remained under pressure at 118.96 yen, little changed from 118.84 yen in New York trade Tuesday, but dramatically weaker than the 122.06 yen seen in US trade on Friday.The euro stood at $1.1535 and 137.25 yen in Tokyo, compared with $1.1518 and 136.87 yen in New York overnight.Oil prices held steady ahead of the latest US energy report after heavy losses earlier in the week owing to jitters over China�s faltering economy.US benchmark West Texas Intermediate for October delivery gained four cents to $39.35 while Brent crude for October rose 11 cents to $43.32.Gold traded at $1,137.66 compared to $1,149.80 late Tuesday.In individual shares, BHP Billiton rose 0.81 percent to Aus$23.54 after the global mining giant announced a 86.2 percent slump in annual net profit after trading closed Tuesday.            
 A Memorandum of Understanding (MoU) was signed in Islamabad on Thursday to form Pakistan Stock Exchange, with the merger of Karachi, Lahore and Islamabad stock exchanges.Speaking on the occasion, Finance Minister Ishaq Dar expressed the confidence that Pakistan will secure a new place in international capital markets with the emergence of one national stock exchange.He said Pakistan Stock Exchange will be made vibrant and competitive in the global financial markets.Dar added that Pakistan has a great potential to turn into a strong, stable and economically sovereign country.Highlighting the steps taken for revival of economy, he said the world financial institutions are also recognising stability in Pakistan's economy.The finance minister went on to say that efforts will now be made to enhance growth rate to six to seven percent as envisioned in the medium term framework.He said special emphasis is also being given to the development sector and allocations for this purpose have been doubled in the last two years.The minister further said that the foreign exchange reserves are at a historic height and hovering between 18.50 to 18.75 billion dollars. He said efforts are afoot to enhance the reserves to over 20 billion dollars very soon.Regarding energy crisis, Dar was confident that 10,000 megawatt of electricity will be added to the grid by December, 2017.               
 Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating healthy demand.However, US crude production slipped a scant 11,000 barrels a day in the same period, keeping output above 9.3 million barrels and not far from a decades-high production level.In another bearish indicator, gasoline supplies increased by 1.7 million barrels, adding to concerns of a global glut of energy supplies.Despite the gains in Asian trading, Singapore�s United Overseas Bank said the mixed report compounded "negative sentiment after worldwide falls in equities that helped drag fuel prices to six and a half year lows".Oil prices hit their lowest levels since early 2009 on Monday over concerns China�s slowing economy will curb demand for the commodities that have helped drive its growth over the past three decades.The devaluation of the yuan two weeks ago largely fuelled the economic fears that sparked the rout, which also saw heavy losses in most global commodities and equity markets.London-based Capital Economics predicted a rebound in commodities markets, saying that "much of the bad news was already baked in the cake before the latest sell-off"."We think commodity prices will now stabilise and perhaps even edge higher and we disagree with the doomsday scenarios for China�s economy that are currently doing the rounds," it said.            
 Pakistani Ambassador to the United Nations Dr. Maleeha Lodhi on Friday rang the opening bell at the NASDAQ Stock Exchange in New York to signal the ceremonial start of trading saying Pakistan�s economy is on the upswing as it pursues liberal economic and investor friendly policies.�We are open to business and we are open to foreign investment,� she told traders and investors gathered at the impressive ceremony held in NASDAQ�s office in New York�s Time Square.A video based on a patriotic song by Pakistani singer Najam Shiraz was screened ahead of the ceremony. The film depicted historic spots across Pakistan and various features of life in the country that many people at Times Square watched on a giant screen. Pakistan�s national flag was also flashed across the screen. �It is an honour to represent Pakistan at the NASDAQ opening bell ceremony as part of our Independence Day celebrations from the platform of the Pakistan American Business Association (PABA) which is doing an excellent job to promote Pakistan-US business ties through private sector cooperation,� Dr. Lodhi said before pressing the button to set off the bell.�Our economy has staged an impressive recovery while our security situation is improving by the day,� she said, adding that, �Our economic reforms and liberalisation policies have placed us on a trajectory to achieve higher economic growth.� �Pakistan has a functioning democracy, an independent judiciary, and a free and lively media. Our hardworking and enterprising overseas Pakistanis are not only making a mark in their countries of adoption but sending back remittances which are at a record level today.� �Our strategic location gives Pakistan a pivotal role in promoting regional connectivity. Plans are underway to make Pakistan a regional economic hub providing trade energy and communication corridors linking Central Asia to South and South West Asia and beyond.�Earlier, top officials of NASDAQ, Andew Hall and David Wicks congratulated the government and people of Pakistan after Hall introduced Ambassador Lodhi.The Chairman of PABA, M. Siddique Sheikh, President of PABA, Keith Segerson, and active member Sajjad Qamar were among those present at the ceremony which was also attended by Pakistan Consul General Raja Ali Ejaz.�This year�s Independence Day coincides with a remarkable recovery in Pakistan�s economy. This is a very exciting time for Pakistan to attract foreign investment and for the US based companies to benefit from lucrative incentives this country offers. PABA is ideally poised to work as a bridge between the private sectors of the two countries,� Segerson said in a statement.            
 The Oil and Gas Regulatory Authority (OGRA) has sent its summary to the petroleum ministry to slash prices of petroleum, diesel, kerosene oil and other petroleum products by Sept 1, sources told Geo News on Friday. According to the summary, a copy of which is available with Geo News, OGRA has recommended the ministry to slash the price of petrol by Rs6.14 per litre.The regulatory body has also recommended a decrease in price of diesel by Rs7.40 per litre, Rs7 per litre for Hi-Octane, and a reduction in price of kerosene oil by Rs7.7 per litre.If approved by the federal ministry, the prices will be applicable by Sept 1.                                   
 Tokyo shares led Asian stock markets higher on Friday after a surprising US economic growth report buoyed investors following a prolonged rout driven by concerns over China�s economy.The dollar gained and oil prices rose on the back of the US growth report, but concerns over Japanese inflation figures tempered sentiment.Tokyo stocks gained 2.49 percent in early trading, while Hong Kong was up 1.00 percent and Shanghai gained 1.65 percent.Sydney was also 0.53 percent higher, while Seoul gained 1.38 percent.The gains in Asia followed a second straight day of advances on Wall Street, with the Dow Jones Industrial Average gaining 2.27 percent, the broad-based S&P 500 rising 2.43 percent and the tech-rich Nasdaq adding 2.45 percent.They were boosted by a US economic growth report that showed the world�s biggest economy expanded at an annual rate of 3.7 percent in the second quarter, sharply higher than the initial appraisal of a 2.3 percent gain."Fear for the global economy had been one reason behind the recent falls, so the unexpected strength in the US, the fact that their GDP has managed to grow this much, is positive," said Nobuyuki Fujimoto, a Tokyo-based senior market analyst at SBI Securities Co.The gains come as a relief to investors who at one point saw $8 trillion wiped off global markets in a rout led by fears over the outlook for China.Oil prices also extended gains after surging 10 percent in the previous session on the back of the US data.US benchmark West Texas Intermediate for October delivery gained 83 cents to $43.39 while Brent crude for October rose 45 cents to $48.01.And on currency markets, the dollar was at or near one-week highs against the euro and the yen.In Tokyo trading, the dollar bought 121.14 yen, up from 121.02 in New York and 119.98 on Wednesday.It was also at $1.1250 against the euro, down from $1.1239 in New York but still stronger than Wednesday�s value of $1.1312.The euro bought 136.30 yen, against 136.03 yen in US trading.Gains from upbeat releases in the US were tempered by data in Japan that showed that inflation in the Asian powerhouse fell back to zero in July while household spending dropped for a second straight month.Gold, which is seen as a safe haven in times of stock market turmoil, traded at $1,129.61, up from $1,125.00.                                   
 The visit of Rawalpindi Chamber of Commerce and Industry (RCCI) to USA is a good step towards greater things to be seen in the field of trade from Pakistan to USA in the years to come, said Consul General of Pakistan in Houston Afzaal Mahmood.He was addressing as the Guest of Honor at the �Meet & Greet� networking Luncheon organized by the Houston Karachi Sister City Association (HKSCA) in the honor of the high ranking delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI). Established in 1952, RCCI is one of the premium trade and industry forums of Pakistan, with about 5,200 members from diversified variety of businesses.Among the delegation included President of RCCI Syed Asad Mashadi, Raja Amir Iqbal (Former VP of RCCI and Chairman of Foreign Affair Committees, Punjab, Mohammad Khurshid Barlas, Muhammad Ayaz Malik, and others.In order to welcome the RCCI Delegation to Houston, the Houston-Karachi Sister City Association (HKSCA) under the leadership of Muhammad Saeed Sheikh arranged a �Meet & Greet�, which was attended by the Consul General of Pakistan Afzaal Mahmood, Commercial Attach� of Government of Pakistan Syed Fawad Ali Shah, President of the Islamic Society of Greater Houston (ISGH) M.J.Khan, President of South Asian Chamber of Commerce Nomi Hussain,President of Pakistani-American Association of Greater Houston (PAGH) Mian Nazir, President of PCC-USA Waseem Akhtar, and many others.Emcee of the event was young attorney Omar Khawaja, also an executive committee member of HKSCA. President of HKSCA Muhammad Saeed Sheikh welcomed the delegates, and introduced HKSCA as an organization that worked very closely with the Mayor�s Office of the City of Houston, whose job is to establish people to people ties in the fields of trade, education, healthcare, & humanitarian services.Former Honorary Investment Advisor of Government of Pakistan Zafar Zaf Tahir stressed upon the Pakistan-American Community to become active and play important role in American economy. �Pakistani-American Community throughout USA should place in front of Congressional Leadership the things which are good for both Pakistan and USA, asking for the Bilateral Investment Treaty�, he said..He also emphasized that other than textile goods Pakistan has much to offer. �So side by side with the textile goods, Trade Shows and Trade Delegations from Pakistan should also bring other manufactured products of Pakistan to introduce in USA,� he added.Founding Member of HKSCA and President of ISGH MasrurJaved Khan said Pakistani Community needs to be active in the public sphere. Speaking on the occasion, he announced his candidacy for the City of Houston Controller Elections of November 2015.Introduced by Chair Trade & Commerce Committee of HKSCA Khalid Kazi, Syed Asad Mashadi, President of RCCI thanked Muhammad Saeed Sheikh for arranging the luncheon, and said more entrepreneurs from Pakistan will be visiting USA.�I did not know that economy of the State of Texas is larger than many countries. There is need to organize  Texas Trade & Business Symposium.� Said Syed Asad Mashadi (President RCCI).On this occasion President HKSCA Muhammad Saeed Sheikh presented the Mayor Annise Parkers Special Welcome recognition to Syed Asad Mashadi, President Rawalpindi Chamber of Commerce and Industry (RCCI), Khurshed Barlas & Raja Amir Iqbal Chairman of RCCI Foreign Affair Committees, & other members of the delegation, While President Mashadi of RCCI also presented a Memento of Appreciation to President HKSCA Muhammad Saeed Sheikh.             
 Two traders unions have announced to launch a protest movement against withholding tax, threatening the government that a shutter down strike and complete shutdown of their bank transactions might take place if the demands of traders were not met.In two separate press conferences held by as many factions of the All Pakistan Anjuman Tajiran here, it was announced that the Supreme Council of Trade Organisations has given an approval for the proposed protest movement that they intend to launch on September 2. They said as part of the next round of protest, traders would stop all transactions with banks on September 4 and then a country-wide strike would be observed on September 9.The press conferences were addressed by Khalid Pervez and Khawaja Shafiq who said they were united in launching the protest movement.                                   
 A strike called by the Oil Tanker Owner's Association has caused a severe shortage of petrol in Karachi, Quetta and several parts of the country.The shortage comes as the government notified a decrease of Rs 3 per litre in the prices of petrol and diesel from Tuesday. Chairman Petroleum and CNG Association Shabir Sulemanji said earlier today that 30 percent of fuel stations in Karachi have run out of petrol and diesel due to the strike, expressing hope that situation would improve by Wednesday.But Geo News correspondent Ali Imran said that by now petrol was available on only about 20 to 25 percent pumping stations � those too most likely on the outskirts of Karachi. He said that there were also reports of fuel stations illegally selling petrol in black at exorbitant rates of up to Rs100 per litre.Read more: Prices of petrol, diesel slashed by Rs3 per litre Some parts of Sindh and Punjab have also begun to feel the effect of the shortage, with fears that the shortage may spiral out of control. The strike by the Oil Tanker Owner's Association, called to protest against sales tax imposed on transportation of oil, is being seen as the main reason for the shortage which is causing great difficulty for consumers.Experts and observers say the effects of the shortage are exacerbated by pumping stations not keeping enough stock and consumers waiting for prices to go down to refill their fuel tanks.                                   
 Price of Compressed Natural Gas (CNG) has been decreased by Rs0.53 in region 1 and by Rs4 in region 2 from September 1, said Oil and Gas Regulatory Authority (OGRA) on Monday.According to a notification issued by the regulator, CNG price has been slashed by Rs0.53 to Rs75.82 per kilogram in region 1 that comprise of Khyber Pakhtunkhwa, Balochistan and Potohar areas.In region 2 that includes Punjab and Sindh provinces, price of CNG has been reduced by Rs4 to Rs67.50 per kg.                                   
 Pakistan is poised to fetch higher export orders for onion this year after India, its competitor, and Bangladesh returned to the international markets to overcome local shortage in supplies, traders have said."Pakistan has registered an increase in demand from the overseas markets in the last couple of weeks�India has recently started importing onion from Pakistan via the Wagah border," said Haji Shahjahan, an exporter."Total export of the country would remain steady at 450,000 to 500,000 ton this year, which is similar to the previous year," he estimated. The country�s annual export size of the commodity stood at 250,000 to 300,000 tons in recent years, he added.Shahjahan said that on an average, some five trucks of onions have been crossing the Wagah border daily to enter into India from Pakistan. Each truck carries some 15 tons of onions.Under these circumstances, prices at Karachi's wholesale market at Super Highway have shot to Rs1,600/40kg of onions from Rs1,000-1,100/40kg a few days ago. Accordingly, the commodity in retail has increased to around Rs40-50/kg from Rs30-40/kg a few days ago.He linked the hike in the prices with the drop in supplies to the market. "Supplies are sometimes slowed down when the crop finishes in one area and harvesting begins in other areas...These days, onions from Balochistan are available in the markets nationwide." Sindh would begin harvesting the new crop from October, and will continue in full swing until November-December. The crop would last till April 2016.He, however, said Malaysia, Sri Lanka, and UAE remain the biggest importers of Pakistani onion.Attributing the price fluctuation to the demand supply gap, Shahjahan said Malaysia has been importing 50-60 containers (of 25 tons each) every week, UAE 40-50 containers, whereas Sri Lanka buys 30-40 containers of onion from Pakistan every week. "On a weekly average, Pakistan exports 8,000 to 10,000 tons of onion," he said.Ahmed Ali Baloch, another exporter, said "I have just received an export order from Bangladesh, and I am evaluating the export price."Reportedly, Bangladesh usually imports onion from India. The export country {India}, however, is itself experiencing shortage in local supplies and price-hike these days. The situation has also convinced Bangladesh to divert its import orders to other countries.Pakistan, a common neighbour to both the countries, with a local production estimated at 2.5 million tons this year, may help them overcome a part of their local shortages.Egypt, Iran, an Afghanistan may also help them overcome the crises, it was learnt.Baloch added that Pakistan could fetch higher exports than the estimated amount if the government did not set a maximum limit per exporter. "According to the rules, one exporter cannot load more than one container of onion in each vessel� may be each vessel carries 100 containers."Shahjahan added two to three vessels of onions leave the Karachi Port every week.                                   
 A strike by freight forwarders and air cargo agents is piling up cargo containers at the country�s main port as delays in offloading and taking on new cargo is causing fears that a prolonged stand-off will cost the economy billions of rupees.The strike, observed in protest against eight percent turnover tax, entered the second day on Wednesday, bringing the external trade to nearly halt, said a protesting leader.Pakistan International Freight Forwarders Association (PIFFA) and Air Cargo Agents Association of Pakistan (ACAAP) had announced strike for indefinite period until government resolves all the issues, which include withdrawal of the turnover tax.Farukh Iqbal, chairman of Air Cargo Agents Association of Pakistan (ACAAP) said there was no bill of leading for exporters to ship goods through dry ports/sea ports/airports/bonded container freight station.�No one from government�s side came forward to negotiate with us,� he said.�We have written several letters to the Federal Board of Revenue, finance ministry and Prime Minister�s secretariat, but the government was not ready to listen to our grievances.�Even various trade bodies took up this issue with the government, which seems to be indifferent to trade and commerce, he added. The cargo agents� leader said since no government official had contacted them on Wednesday they decided to continue the strike.�Our members are not responsible or liable for any direct or consequential losses suffered by trade due to strike as government has forced our member companies to take the extreme decision to close businesses in protest against the imposition of this unjust tax, which itself means closure of businesses,� he said.An official at a leading terminal operator of Karachi port told The News that the strike had already slowed down the activities.�If this situation persists for another four to five days the goods waiting for clearance will pile up to create menace,� he said. �And, it will take 20 to 25 days or even more to do clearance in addition to jack up the operational cost for exporters and importers in form of extra port duties.�He added that the government is not realising the fact.Freight forwarders didn�t issue any bill of leading for exports and there was no delivery order for lifting the import consignment at terminals. If the situation persists it will create handling issues.Perishable export/import items can be ruined if not cleared on time.The terminal operator said clearing agents and freight forwarders don�t work on high turnovers and higher taxes can lead to the closure of their businesses.A leading exporter Jawed Bilwani said government�s non-serious attitude to resolve any industry issue is marring trade. The country�s exports are already suffering and with the ongoing strike of the freight forwarders and other stakeholders will further hamper the exports.Bilwani said last year good transporters called strike and the government didn�t seriously take the issue. It was only after 12 days, during which traders sustained huge losses the government came for negotiation with the protestors.He said the present government allows an issue to blow out of proportion before coming for the rescue.Fawad Ijaz Khan, Patron-in-Chief of Pakistan Leather Garments Manufacturers and Exporters Association said the government has failed to resolve the issues facing freight forwarders and air cargo agents.�We have been trying to contact the various ministries, including finance and commerce ministries, but no one was available to listen to our grievances,� Khan said.�Our members are worried about their consignments and their orders might be cancelled if not shipped on time.�Shabbir Ahmed, former chairman of Pakistan Bedwear Exporters Association said the government should seriously take notice of the matter and immediately resolve the issues of the logistics sector. Ahmed said small exporters will suffer the most due to the strike.                                   
 Fragile financial markets are grappling with wild swings in world oil prices, unnerved by uncertainty over global supplies and the demand outlook from China.By the close of business Monday, the price had shot up 27 percent in just three days for the US benchmark contract, West Texas Intermediate for October delivery, rebounding from six and a half year lows.But they skidded again Tuesday when weak Chinese manufacturing data cemented concerns over demand from the world�s biggest commodities consumer.Later in the week oil prices got a boost from the European Central Bank, which on Thursday held out the prospect of yet more stimulus for the eurozone economies if needed.By the end of the week, crude oil prices were trading in London on Friday evening barely changed.Brent North Sea crude sold at $49.95 a barrel -- down from $50.17 a week earlier. The WTI contract traded at $46.22, up from $45.22.Crude oil, the world economy�s most important raw material, has roughly halved in price in a year."The fall in commodity prices has looked particularly dramatic because it has included oil," said Julian Jessop, chief global economist and head of commodities at London-based research group Capital Economics.While many raw materials have been declining in price since 2011 as China�s booming economy began to slow, oil�s price had been propped up by a perceived threat to supply after the Arab Spring, Jessop said in an interview."Once the concerns about the potential threat to supply from the Arab Spring disappeared and were replaced by the reality of massive oversupply because of the shale revolution in the United States and OPEC�s response of keeping production high when people had thought it might cut, then oil tanked," the analyst said.Keeping pressure on oil prices, Iraq has managed to boost production this year by 1.5 million barrels per day despite the conflict with extremists including Daesh group and Iran is set to raise exports as sanctions are lifted after an agreement was reached over its nuclear programme.Despite the uncertainty on commodity markets, the price of gold -- a safe haven -- lost its shine over the past week, hurt by a rally in the US dollar.The precious metal also lost its lure as a haven at as volatile Chinese markets took a holiday on Thursday and Friday to mark the 70th anniversary of the end of World War II.On the London Bullion Market, gold was trading at $1,118.25 dollars an ounce Friday against $1.135 dollars a week before. (AFP)            
 Announcing a shutter-down strike against the government for not withdrawing the newly imposed withholding tax, the main traders union in Sindh on Saturday vowed no bank transaction on September 9.Speaking to media representatives here, Sindh Tajir Ittehad (STI) Chairman Jamil Ahmed Paracha said the strike will be held against the government for not withdrawing the increased withholding tax.Last week, two traders unions in Lahore had announced a protest movement against the withholding tax.The announced stoppage of all transactions with banks on September 4 and then a country-wide strike on September 9.                                   
 Japan and Iran will start talks next week to negotiate a bilateral investment treaty, as Washington moves to ease sanctions against Tehran and Tokyo looks to step up its interests in the resource rich nation.Japanese and Iranian officials will meet in Tehran from Monday through to Wednesday to secure a deal, Chief Cabinet Secretary Yoshihide Suga said Friday, as other energy consumers also rush to explore Tehran�s commercial potential."The aim of these negotiations is to protect the investment activities of Japanese companies," Suga told reporters at a regular briefing.When asked how resource-poor Japan would tap Iran�s energy potential, Suga said: "Keeping those various factors in mind, Japan will take the necessary steps and not be later than other nations."The move comes as Washington secures support in Congress for its nuclear deal with Iran, designed to limit its nuclear programme in exchange for the easing of US-led international sanctions.The historic deal was clinched in July after two years of negotiations to address Western concerns that Iran was developing a nuclear bomb -- a claim Iran denies.Japan hopes the lifting of sanctions will lead to increased auto exports to Iran and more Iranian energy imports, although Tokyo officials are bracing themselves for fierce international competition for market access, local media reported. Tokyo, which is heavily dependent on Middle Eastern oil, has maintained friendly relations with Tehran through its years of ostracism, keeping up diplomatic dialogue that many developed countries cut off decades ago.But Tokyo has reduced its Iranian oil imports in recent years under pressure from fellow developed powers backing the US-led sanction regime. There have also been no new Japanese investments in Iran since 1993, according to official data. There were approximately 30 Japanese firms operating in the country as of July last year, data showed.Iran has meanwhile praised Japan�s nuclear technology, even after the 2011 Fukushima crisis, and said more investment in Iran�s atomic sector could boost bilateral relations.Japanese Foreign Minister Fumio Kishida is also expected to visit Iran as early as next month to set up a bilateral committee to discuss energy and infrastructure development and other economic issues, Kyodo News said.            
 The Karachi Stock Exchange (KSE) plummeted over 1,000 points during intra-day trading on Monday, with investors at the Pakistani bourse in a cautious mood as Asian markets also stayed on edge ahead of key data on the slowing Chinese economy.The benchmark KSE 100-share index was down 3.17 per cent, or 1073.78 points, trading at 32817.30 at around 2:00PM.Traders said that, after flight of foreign investment, local investors had also begun to withdraw their capital from the market.Analysts largely attributed the bearish trend at the KSE to declines at other Asian markets and continuing political uncertainty in Pakistan.AFP adds: Stock markets in Shanghai and Hong Kong gave up early gains to end lower Monday as dealers await fresh Chinese economic data this week, amid fears weak figures will spark more turmoil.Shanghai's benchmark index fell 2.52 percent, or 79.75 points, to 3,080.42. However, the Shenzhen Composite Index, which tracks stocks on China�s second exchange, edged up 0.20 percent, or 3.38 points, to 1,677.33. In Hong Kong the Hang Seng Index shed 1.23 percent, or 257.09 points, to close at 20,583.52.                                   
 Oil prices eased in Asian trade Monday as dealers await the US Federal Reserve�s decision on whether to raise interest rate following a mixed August jobs report, analysts said.US benchmark West Texas Intermediate for October delivery fell 35 cents to $45.70 while Brent crude for October eased 38 cents to $49.23 in mid-morning trade.The US Labor Department said Friday the economy added 173,000 jobs in August, fewer than estimated.However, the previous two months� job gains were revised upward, pushing the unemployment rate down more than expected to 5.1 percent, its lowest level since April 2008.The report was the last before the Fed�s policy board meets on September 16-17 to discuss its plans for borrowing costs. US financial markets are closed Monday for the Labor Day public holiday."The realisation that the Fed will still raise interest rates this year... dampened market sentiment," said Bernard Aw, market strategist at IG Markets In Singapore.A rate hike would likely strengthen the greenback, making dollar-priced oil more expensive to holders of weaker currencies, hurting demand and prices.Analysts said dealers are awaiting a slew of global economic data this week for clues about demand, with ample supplies boosted by relentless US and OPEC production.The Chinese government is scheduled to release monthly trade and inflation figures, as well as industrial output, fixed-asset investment and retail sales in the coming days.Oil prices have fluctuated wildly in recent weeks on uncertainty about Fed monetary policy as well as worries about the growth in world number-one energy consumer China.The eurozone�s second-quarter gross domestic product figures are due Tuesday.                                   
 Talks between Milk Retailers Association and Commissioner Karachi, Shoaib Ahmed Siddiqui, proved partially fruitful on Tuesday evening which resulted in Dairy and Cattle Farmers Association to split into two factions over the milk price hike.Commissioner Karachi said this evening that the milk shops in the city that were sealed by the government would be opened soon, as most milk retailers were ready to bring down their prices.Meanwhile, a faction of the Dairy and Cattle Farmers Association still refused to bring down the price and some of the milk retailers announced that they would shut the supply of milk in the city tomorrow (Wednesday). They also demanded the release of those vendors who were arrested for six months for selling milk at costly rates.Earlier today, it was reported that a milk shortage had emerged in Karachi as dairy shops in the city had closed over disagreements on the selling price.President Dairy and Cattle Farmers Association Shakir Umer said dairy shops were being sold milk at Rs74/litre. The official price of milk is set at Rs70/litre and shop owners complained they cannot sell at a loss.Shops had also closed across the city over inadequate supply. The President of the Dairy and Cattle Farmers said the city government should listen to their grievances instead of initiating crackdowns.Commissioner Karachi had said they were willing to discuss the sale price of milk and other issues.            
 Oil prices were mixed in Asia Tuesday after the latest Chinese trade data showed lacklustre demand in the world�s top energy consumer, analysts said.US benchmark West Texas Intermediate for October delivery fell $1.34 to $44.71 while Brent crude for October gained 44 cents to $48.07 in late-morning trade.The Chinese customs administration said Tuesday overseas shipments in August fell 6.1 percent in yuan terms from a year earlier. This compared with a fall of 8.9 percent in July.Imports dropped 14.3 percent, from an 8.6 percent decrease in July."This data just reinforces the view we are still seeing weakness in the Chinese economy and this data point suggests we have not seen a bottom yet," Bernard Aw, market strategist at IG Markets, told AFP."China�s economy remains a worry for the wider world economy and global asset markets," he added.The data was the first in a string of economic figures this week that will be used as a barometer of the state of the Chinese economy, the world�s second-biggest and a crucial driver of global growth.Oil prices have come under pressure from concerns that China�s slowing economy will curb demand for the commodities that have helped feed its astonishing growth over the past three decades.The devaluation of the yuan on August 11 fuelled economic fears, sparking a slump in world equities sending commodities, as measured by the Bloomberg Commodity Index of 22 raw materials, to a 16-year-low before stabilising near current levels.Oil prices are down almost 30 percent from this year�s closing peak in May, according to Bloomberg News data.Analysts said dealers would next scrutinise the latest weekly US petroleum report due Thursday, a day later than usual due to a holiday on Monday.US crude reserves currently sit near an eight-decade peak due to high production levels despite tepid demand.Dealers had been hoping that an uptick in US demand, coupled with a slowdown in output, could whittle down the huge global supplies that were a key reason for the collapse in prices from around $120 in June last year.                                   
 Putting  stout defence of the solar power projects, Punjab Chief Minister Shahbaz Sharif has said his government has saved Rs2 billion by cutting the cost of Quaid-e-Azam Solar Power Park project.He said efforts were made to make the project controversial, adding that the government not only reduced the cost but also setup the project within six months.The chief minister said since his government believes in transparency, it plans to conduct the audit of the Nandipur Power project through an international company after facing the allegations of corruption. Sahbaz Sharif said prevailing energy crises would largely be overcome by the end of 2017.                                   
 Pakistan is set to sign a 40-year-lease with a Chinese company to develop a massive special economic zone in the deep sea port of Gwadar, officials said Wednesday.<br/><br/>The scheme is part of the the China-Pakistan Economic Corridor (CPEC), an ambitious $46 billion investment plan linking western China to the Arabian Sea with infrastructure, energy and transport projects.<br/><br/>The contract assigning the 923 hectare (2300 acre) swathe of tax-exempt land to China Overseas Port Holding Company (COPHC) is likely to be signed this month or October, Dostain Khan Jamaldini, chief of the Gwadar Port Authority (GPA) told AFP.<br/><br/>As part of the wider plans, "work on the Gwadar International Airport would start in the next couple of months and we are quite hopeful of completion of the national highway connecting Gwadar with the north within the next month", he added.<br/><br/>Pakistan is also raising a special security force of between 10,000 and 25,000 men to protect the port, which lies in the restive southwestern province of Balochistan, which since 2004 has been roiled by a separatist insurgency.<br/><br/>Abdul Razzaq Durrani, the director general of GPA, confirmed the deal.<br/><br/>Gwadar port, located 540 kilometres southwest of Karachi, was built in 2007 with technical help from Beijing as well as Chinese financial assistance of some $248 million.<br/><br/>But acquiring the land from private owners to build the economic zone took several years and cost the Balochistan government around $62 million, Durrani said.<br/> <br/>Simbal Khan, a geo-political analyst, said that China had made similar deals in Africa, Vietnam, Sri Lanka and Bangladesh and the project was of great strategic value to both countries.<br/><br/>"Pakistan is looking at the CPEC project as a game changer, kick starting an era of infrastructure growth and investment. The land deal is just part of the Gwadar port infrastructure that needs to develop to realise the expectations of Pakistan and China from this mega project," she said.
 Dubai property developers are still turning out some larger-than-life projects even though prices are heading south again after clawing back a good chunk of their losses in the 2008 crash.  The Gulf emirate�s annual Cityscape property fair opened Tuesday with developers foreseeing price declines of about 15 percent this year, yet confident there would be no return to the days when huge projects were abandoned half finished.Scale models of new skyscrapers, sprawling villa compounds and leisure centres, including a new indoor ski slope, were rolled out by several companies.Analysts have signalled a slide in property values, which had recovered significantly in the past two years after shedding half of their value in the 2008 global financial crisis. Dubai had shaken world markets when it signalled that it might default on huge debts incurred after borrowing extensively to build those ambitious projects.Thanks to the robust trade, tourism and transport sectors, the economy has since steadied. "Residential prices have fallen maybe nine or 10 percent this year," said Craig Plumb, Middle East and North Africa research director for Chicago-based investment management company Jones Lang LaSalle."We expect prices to go down further over the rest of the year," saying the decline has "more to do with what is going on globally. Things like (falling) oil prices and the global nervousness with the Chinese economy slowing.""The Dubai residential market is very much affected by what�s going on in the rest of the world because a large number of people buying here are investors coming from overseas," said Plumb."There is a negative sentiment largely driven by oil prices... It pushed stock prices down and pushed sentiment against the residential market as well."The city-state, one of seven that make up the United Arab Emirates, is the largest and one of very few markets in the region that has opened up to foreign free-hold ownership. Plumb said prices are likely to fall for 12 more months, while forecasting the drop for this year at 15 percent. London-based property consultancy Knight Frank has reportedly put the annual drop to June at over 12 percent. Cluttons, another London consultancy, expects villa prices to lose up to seven percent in the second half of the year after dropping five percent in the first six months. Signs of price softening had begun to show as a result of strict regulations introduced by UAE financial authorities to avoid a new bubble, including mortgage caps.  In particular, they put a cap on mortgage financing at 75 percent for a first purchase and 60 percent for a second one. This priced out of the market those who could not make down payments of 25 percent or more. As a result, Plumb said, prices are not expected to nosedive as they did in the crisis.  "We are seeing a much more stable market and that is a sign of better regulation."Developers undeterredAgainst that background, Cluttons said more than 40,000 units have been announced this year, with in excess of 20,000 to be delivered by 2017. Ziad Chaar, managing director of Dubai developer DAMAC Properties, said "with 53 billion dirham ($14 billion) recorded transactions in the first six months... we are sure that this market is a good market."Chaar cited a growing population and healthy economic expansion, including a rising number of tourists and modern infrastructure, in addition to a stable exchange rate and political stability compared with a wider region in turmoil. "If we did not know that this market is strong, and that there is a very strong demand, we would not have launched these projects," he said, pointing to scale models of various luxurious projects. One of the projects on display at Cityscape is Meydan One, which includes plans for the world�s highest residential tower, at 711 metres (2,333 feet) high. Dubai is already home to the world�s tallest building, Burj al-Khalifa, with stands at 829.8 metres. At foot of Meydan One, a 1.2-kilometre indoor ski slope is set to break Dubai�s own world record, Ski Dubai, which boasts a 400-metre slope.  Dubai�s Nakheel Properties, developer of Palm Jumeirah and the World Islands, announced that it aims to bring 10,000 units on to the market in the Jebel Ali area. Savills, another British real estate consultancy, ranks the UAE as the world second-best country for residential investment, after only the United States. It said Dubai�s market has "matured" and that softening prices are expected to pick up again in mid-2016, as the country prepares to host the Expo 2020 trade fair.                                   
 Traders and business community is observing countrywide complete shutter down strike, halting business activities today (Wednesday) against the imposition of withholding tax on all types of banking transactions.This would be the second countrywide strike on the same issue. Earlier, the business community succeeded in observing the strike across country, pressurising the Federal Board of Revenue to halve the rate of withholding tax on banking transactions, and extending the date of implementation of the said tax.However, a faction of traders refused the FBR incentive, sticking to their single point agenda of withdrawal of the withholding tax from banking transactions, which has compelled the other groups to join hands with them and show their muscle power to the government.On Tuesday, different factions of the traders in two different press conferences announced the complete shutter down strike for today. They said that after this strike, they will announce their future plans of protests and strikes which would be for an indefinite period.They said that businessmen had never refused to pay taxes, but the government instead of taxing those who were already in the net, should bring new people in to the tax net.They said that this tax had not only made life of the traders miserable, but also destroyed the whole banking sector, as it was now facing a collective loss of Rs878 billion.After the traders and business community, the Lahore Chamber of Commerce and Industry (LCCI) also announced to observe the September 9 strike.                                   
 Oil prices edged higher in quiet Asian trade Wednesday as dealers set aside weak Chinese trade data and looked ahead to the release of a US stockpiles report, analysts said.US benchmark West Texas Intermediate for October delivery gained 22 cents to $46.16 while Brent crude for October rose 24 cents to $49.76 in late-morning trade."We are seeing trading volumes for oil futures down a third than on average. The market seems to have shrugged off the weak Chinese trade data and is now looking beyond that for cues," Michael McCarthy, chief market strategist at IG Markets in Sydney, told AFP."We might see some movement next depending on how the US stockpile numbers turn out," he said.China said Tuesday its exports fell 5.5 percent year-on-year in August while imports plunged 13.8 percent, led by falling commodity prices, adding to worries about the strength of the world�s number two economy and top energy consumer.The slowdown Chinese growth, as well as a slew of other weak indicators, have sent panic through world markets, as the country is a key driver of global expansion.In the United States, the Department of Energy will release its weekly petroleum report on Thursday, a day later than usual owing to the Labor Day holiday on Monday.US crude reserves likely rose by 250,000 barrels in the week to September 4, according to a Bloomberg News survey of analysts. An increase in stockpiles usually points towards weaker demand.Dealers had been hoping that an uptick in US demand, coupled with a slowdown in output, could whittle down the huge global supplies that were a key reason for the collapse in prices from around $120 in June last year.                                   
 Prime Minister Nawaz Sharif has ordered audit of the Nandipur Power project amid allegations of corruption.Acting upon the prime minister�s orders, the Ministry of Water and Power has written a letter to the Auditor General, asking him to conduct the audit with three terms of reference. The terms of reference will address the requirements of the commercial audit of the project which has become nightmare for the government.The Ministry of Water and Power has directed the Auditor General of Pakistan to conduct the audit keeping in view three points: (1) Reason behind the increasing cost of the project (2) Amount that has been spent so far (3) Whether the Board, Administration of the project and the contractor fulfilled their responsibilities.                                   
 A mixed reading on Chinese inflation Thursday kept Asian equities traders on edge in fresh volatility Thursday as markets retreated from a two-day rally, while fears of a US interest rate hike saw safe assets advance.Early selling spread through regional exchanges, with Hong Kong and Shanghai seeing hefty losses, despite Chinese Premier Li Keqiang the day before seeking to shore up confidence in the government�s handling of an economic crisis that has sent global markets plunging.A late tumble on Wall Street provided extra reason to run after a report showing a tighter US jobs market increased speculation the Federal Reserve will pull the trigger on a rate rise at next week�s policy meeting.Thursday�s losses follow thumping gains across the world over the previous two days -- including a 7.7 percent jump in Tokyo Wednesday -- which were helped by Chinese moves to bolster its economy.However, Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors Ltd. in Sydney, told Bloomberg News: "Markets will remain volatile until the Fed meeting next week."Investors are again focusing on the potential US interest rate increase and how it would impact emerging markets."In Beijing, official figures showed the consumer price index (CPI) rose two percent last month, better than July�s 1.6 percent and beating forecasts of 1.8 percent.However, the producer price index (PPI) -- a crucial measure of costs for goods at the factory gate and a leading indicator of the trend for consumer prices -- slumped at its fastest rate in six years.The figures will do little to ease the struggle authorities have in kickstarting the world�s number two economy and main driver of global growth as it suffers a painful slowdown."This is a real problem," said Zhu Qibing, a Beijing-based analyst at China Minzu Securities Co. "For a manufacturer, CPI represents its costs because wages rise, and PPI represents the prices of its product. Now profits of enterprises are being further eroded." (AFP)                                   
 Prime Minister Nawaz Sharif has underscored the need for enhancing exports, saying that Pakistan could not progress without improving its exports.Addressing the meeting of industries and traders� representatives here Friday, the Premier said, �How can we pay off our debts without increasing our revenue?�PM Nawaz assured the business community for redressing its issues, saying that PML-N government wanted to resolve issues of the said community, however, these could not be resolved in a single day and resources are required for it. The Prime Minister regretted that Pakistan lacks behind others countries of the region in exports, adding that �The country has not witnessed any growth in its exports over the past few years.�He went on to say that they have to make this sitting a fruitful.                                   
 Asian markets were relatively calm Friday at the end of a volatile week, with Shanghai and Hong Kong ticking higher after China unveiled a series of steps to shore up its economy, but fears of a US interest rate hike kept dealers on edge.Higher-yielding, or riskier, currencies such as the Malaysian ringgit and South Korean won benefited from a more upbeat outlook, which followed a positive lead from Wall Street, while the Australian dollar edged higher.The safe-haven yen, considered a go-to asset in times of turmoil, retreated.Analysts said world markets seemed to be settling after a roller-coaster ride since China last month devalued its yuan currency, sparking concerns about the world�s number two economy -- the main driver of global growth -- and its leaders� ability to control the crisis.The broadly upbeat sentiment comes after Beijing sought to reassure investors it was able to maintain high growth, and announced a plan to speed up major construction projects and cut taxes for small and medium-sized enterprises.A set of capital controls to prevent a flight of cash were implemented this week, while analysts said a rise in the offshore yuan Thursday suggested the central bank had intervened to prop it up.Authorities also unveiled a series of measures to prevent huge swings in China�s stock markets, which have seen trillions of dollars wiped off valuations in Shanghai since it hit a peak in mid-June. Among the measures are a "circuit breaker" that stops shares being traded after rising or falling by a certain amount.In early trade, Shanghai was up 0.29 percent, Hong Kong added 1.31 percent and Sydney was 0.37 percent higher. Tokyo pared most early losses to end the morning flat.Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News: "We seem to be forming a bottom, but uncertainty has yet to be completely dispelled, including what happens with US monetary policy."Global investors are nervously waiting for next week�s Federal Reserve policy meeting, with uncertainty over whether it will lift interest rates for the first time in nine years or hold fire owing to the recent market turmoil.A hike in borrowing costs would likely hinder investment possibilities and also fan a flight of capital back to the United States in search of better returns, to the detriment of emerging markets.Hopes that bank policymakers will opt not to raise rates supported US stocks, with Wall Street�s three main indexes all ending strongly higher.A less volatile atmosphere saw low-risk assets retreat. The dollar bought 120.82 yen compared with 120.63 yen in New York, while the euro was at $1.1279 compared with $1.1275.And the Australian dollar, which earlier in the week hit a six-year low below 69 US cents, was at 70.72 cents.The ringgit was up 0.13 percent and the won gained 0.82 percent. New Zealand�s dollar, which tanked Thursday after the central bank cut interest rates, edged up 0.3 percent.                                   
 The State Bank of Pakistan on Saturday announced the new monetary policy for the next two months reducing the interest rate further by 50 basis points. The central bank reduced interest rate by 0.5 percent and brought it down to six percent.The State Bank of Pakistan noted year-on-year headline CPI inflation to have decelerated to 1.7 percent in August 2015 from 7.0 percent in August 2014. Following its declining trend of the past several months, the 12-month moving average CPI inflation came down to 3.6 percent in August 2015 from 8.4 percent in August 2014. A press release from the State Bank noted, �With better law and order situation, investor and consumer confidence is improving. After recording a growth of 3.3 percent, Large-scale Manufacturing is expected to gain further traction at the back of improvement in energy supplies. Implementation of infrastructure development and energy projects under China Pakistan Economic Corridor would further enhance the improving investment environment. Therefore, there is anticipation of higher economic activity in FY16 which is expected to boost credit uptake.�            
 The National Accountability Bureau (NAB) on Friday submitted another reference in the rental power projects (RPP) scam against former prime minister Raja Pervez Ashraf.An accountability court has summoned Ashraf and 11 other suspects on September 18 after the NAB submitted the reference in connection with Samundri Rental Power Project.The bureau has accused all 12 of misuse of power, violation of laws and awarding illegal contracts.Former water and power secretary Shahid Rafi, former secretary Ismail Qureshi, Pepco�s former MDs Tahir Basharat and Munawar Basir were also among the suspects.Naudero, Sahiwal, Peeran Ghaib and Karkey rental power cases against the PPP leader are also sub judice.                                   
 Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi, said on Monday that the issues that Sindh Finance Minister, Murad Ali Shah, spoke about a day earlier do not befit him.Addressing a press conference in Islamabad today, the petroleum minister said that the gas from Sindh is not going to be directed anywhere, adding that any ambiguities will be cleared.Shahid further said that these issues that Murad Ali Shah spoke of have already been discussed with the Council of Common Interest (CCI) as well as during other occasions.�Pakistan People's Party (PPP) Co-Chairman Asif Ali Zardari also raised these issues in a meeting with Prime Minister Nawaz Sharif.�The minister went on to say that corruption allegations on import of Liquefied Natural Gas (LNG) is shameful.He added that the LNG policy was made by the PPP government.On Sunday, Sindh Minister for Finance, Murad Ali Shah said the incumbent government and rulers only seem interested in launching high-cost projects, claiming the federal government�s policies are proving detrimental for Sindh.Murad Ali Shah further said there is rampant corruption today but the same is invisible to the eyes of investigation authorities.            
 Oil prices were mixed in Asia Monday ahead of a US interest rate decision, with weak demand in an oversupplied market keeping a lid on any gains.US benchmark West Texas Intermediate for October delivery was up five cents at $44.68 and Brent crude for October fell 16 cents to $47.98 in late-morning trade.The cost of the black gold tumbled last week after Goldman Sachs slashed its price forecasts for next year in the face of a larger-than-expected glut.Sanjeev Gupta, head of the Asia Pacific oil and gas practice at professional services firm EY said prices will remain volatile on concerns "over demand growth not being sufficient to absorb excess supply".Weak demand from China, the world�s top energy consumer, is also weighing on the market, he said, following another round of weak data on the world�s number two economy at the weekend.Gupta said dealers are focusing on the Federal Reserve�s rate meeting that ends Thursday.While expectations are for a rise by the end of the year, the bank�s decision has been made complicated by the recent turmoil across the globe caused by the Chinese economic crisis.Higher US interest rates will boost the US currency, making dollar-priced oil more expensive for holders of other units, hurting demand and prices."For now, the market appears willing to give in to the Fed�s well telegraphed intention to hike in 2015 but remains doubtful of more hikes thereafter," DBS Bank said in a market commentary."The (dollar) could reassert itself if Fed Chair Janet Yellen turns out to be more optimistic than expected and reinforces her colleagues� recent message that the Fed will be gradual and cautious in normalising monetary policy."Oil prices have plunged from peaks of more than $100 a barrel in June 2014 as global supply outpaced demand.                                   
 On the occasion of Eidul Azha, PIA is offering 25 per cent ticket discount on all domestic sectors for travel during September 25, 26 and 27. A statement issued here on Tuesday said that the discount offer was formally announced by PIA�s Director Marketing & Customer Services Khurram Mushtaq at the airline�s head office today.The passengers can now avail 25 per cent discount on all domestic flights during the first three days of Eid. The discount offer applies to all three classes; Business, Economy and Economy Plus.                                   
 World crude prices diverged Tuesday as traders eyed weak demand and excess supplies, dealers said.Brent North Sea crude for October dropped eight cents to stand at $46.29 a barrel around late afternoon in London.US benchmark West Texas Intermediate for delivery in October added 86 cents to $44.85 per barrel compared with Monday�s close.Expectations that US crude oil inventories expanded for a third week and news that the OPEC cartel has slashed its demand growth forecast for next year are keeping a lid on any price rally, analysts said.Bloomberg News said it expects US crude stockpiles to have risen by 1.75 million barrels in the week to September 4.The US Energy Information Administration (EIA) will release Wednesday the official stockpiles data, a gauge of demand in the world�s top oil consuming nation."Prices are unable to make much headway as the market expects US crude stockpiles to expand for the third straight week ahead of the EIA report," said Bernard Aw, a Singapore-based strategist at IG Markets.The Organization of the Petroleum Exporting Countries on Monday cut its 2016 forecast for global demand "due to the projected slower economic momentum in Latin America and China".The cartel said demand would grow by 1.29 million barrels per day to 94.08 million barrels a day next year, 50,000 barrels less than its previous estimate.Traders are also watching out for the US Federal Reserve meeting this week to see whether policymakers would raise interest rates for the first time since 2006.Analysts say that a hike in the zero-level benchmark rate would likely push the dollar higher, making dollar-priced crude oil more expensive and potentially further damping demand.                                   
 The government believes that coal-based power generation is the best source of energy in the wake of depleting gas reserves.The National Electric Power Regulatory Authority (NEPRA) said efforts must be made to change the energy mix towards cheaper fuels.�With the depleting natural gas reserves in the country and relatively longer lead time for the construction of hydroelectric power projects, coal power plants are considered the best option in the short- and medium-term planning,� reads a Nepra�s decision pertaining to the generation licence application of Siddiqsons Energy.NEPRA awarded a generation licence to Siddiqsons Energy Limited for 350-megawatt coal-based thermal facility at Port Qasim with a cost of approximately $600 million.The project is expected to be commissioned by December 31, 2018, while the company is required to provide a certificate on bi-annual basis, confirming that the operation of its generation facility is in line with the environment standards as prescribed by the relevant competent authority.NEPRA said electricity is a fundamental element for the economic growth of any country. The electricity consumption per capita has a strong correlation to the social development and economic indices.�Increasing electricity consumption per capita can directly stimulate faster economic growth and indirectly achieve enhanced social development,� the authority said.�In short, the economic growth of any country is directly linked with the availability of safe, secure, reliable and cheaper supply of electricity.�The authority said for sustainable development, all types of electric power generation resources, including coal (imported/indigenous), hydel, wind, solar and others must be tapped and developed on priority basis both in public and private sectors.The existing energy mix of the country is heavily skewed towards the costlier thermal generation facilities operating on furnace oil.�The import of expensive furnace oil results in depletion of the precious foreign exchange reserves of the country, affecting the macro and microeconomic stability,� read the ruling.�An increase in the consumer end tariff results in higher inflation but it also affects the competitiveness of the local industry with its foreign peers.�It further said it is vital that indigenous and imported coal projects are given priority for power generation and their development is encouraged to reduce the demand-supply gap and to achieve sustainable development.            
 Oil prices fell Thursday as jittery investors awaited a key interest rate decision from the US Federal Reserve.US benchmark West Texas Intermediate (WTI) for delivery in October dropped 58 cents to $46.57 a barrel from Wednesday�s close.Brent North Sea crude for November shed 60 cents to stand at $49.15 a barrel in London midday deals.Prices were lower as traders took profits after crude futures had soared Wednesday.WTI surged almost six percent and Brent jumped more than four percent after the US Department of Energy revealed a weekly drop of 2.1 million barrels in crude inventories.That included a 1.9 million-barrel decline at the Cushing, Oklahoma trading hub, indicating stronger demand in the world�s top oil consumer. The report also said US oil production fell for the sixth straight week."For the oil market, the fact that US oil production was down once again may perhaps be even more relevant than the decline in stocks," said Commerzbank analyst Carsten Fritsch."This would appear to prove OPEC�s strategy correct, namely that low oil prices would prompt shale oil producers to abandon production. In fact, this trend may well even accelerate in the near future."World oil prices have roughly halved in value since a year ago, plagued by a global supply glut caused largely by cheaper production of US oil following extraction from shale rock.Attention is now focused on Washington where the Fed will make an announcement on borrowing costs, with analyst opinion split on whether it will begin lift-off of raising rates on Thursday or wait until December.Fed chief Janet Yellen has said she expects an increase in US interest rates by the end of the year but recent turmoil in global markets caused by concerns about China�s economy have complicated policymakers� decision-making.A rise in US interest rates tends to bolster the dollar, making dollar-priced oil more expensive for holders of weaker currencies, hurting demand.                                   
 Seven private coal-based and hydropower projects, having a total electricity generation capacity of 5,155 megawatts, will reach their financial close by yearend, a minister said on Thursday.Minister for Water and Power Khawaja Muhammad Asif, chairing 102nd meeting of the Private Power and Infrastructure Board (PPIB), said the implementation of these projects will start after the financial close.These projects have local and foreign investments. Investors from China, Korea, Qatar and Saudi Arabia have large equity contributions in these projects.�The government is making every effort to increase electricity supply to the national grid through all possible avenues, private sector being one of them,� Asif said.The said projects include 102MW Gulpur hydropower at Poonch River, Azad Jammu and Kashmir, 720MW Karot hydropower at Jhelum River, district Rawalpindi, 870 MW Suki Kinari hydropower at Kunhar River, Mansehra, Khyber Pakhtunkhwa, 1,320MW Port Qasim coal-based power, 660MW Engro Powergen coal-based power at Thar Block-II, Sindh, 1,320MW Shandong imported coal-based power at Qadirabad, Sahiwal, and 163MW Grange Holdings coal-based power at Arifwala, Punjab. The minister said the presence of international investment groups/companies in the development of private sector power projects shows the confidence of the international community in the government�s policies. Various ongoing private power projects were also discussed during the meeting. The board was briefed on coal and hydel based private power generation projects being handled by PPIB, particularly the projects being processed under the China-Pakistan Economic Corridor. The minister and board members expressed their satisfaction on the progress and advised PPIB to ensure the timely completion of the projects.            
 Oil prices rebounded in Asia Monday but analysts said they remain weighed by a crude oversupply and fresh worries about the world economy after the Federal Reserve decided last week against raising interest rates.US benchmark West Texas Intermediate for October, which expires on Tuesday, rose 15 cents to $44.83 and Brent crude for November was up 10 cents at $47.57 a barrel in late-morning trade.Oil stockpiles held by Saudi Arabia, the world�s biggest crude exporter, climbed to a record, Bloomberg News reported.It said the country�s commercial petroleum stockpiles advanced to 320 million barrels, the highest since at least 2002, citing data on Sunday on the website of the Riyadh-based Joint Organisations Data Initiative.Fresh worries have also emerged about the health of the global economy and its impact on oil demand after the Fed, the US central bank, held off raising benchmark interest rates last week.Fed chief Janet Yellen said that bank policymakers cited the ongoing slowdown in China and recent turmoil on world markets as playing a role in the decision."Indeed, the Fed�s hesitancy only appears to have reinforced investors� worries about the global economy, rather than reassure them," Capital Economics said in a commentary.            
 Oil prices fell in Asia Tuesday, reversing sharp gains in the previous session, hit by a strong dollar and persistent concerns over a global supply glut.US benchmark West Texas Intermediate for October delivery, which expires at the end of the trading day, eased 39 cents to $46.29 in late-morning trade after spiking 4.1 percent at its close in New York on Monday.Brent crude for November dipped 37 cents to $48.55 a barrel following a 3.1 percent surge in London."A resurgent US dollar weighed on crude prices. However, an improved risk tone could cushion oil prices on the downside," said Bernard Aw, market strategist at IG Markets in Singapore.The dollar climbed after three Federal Reserve presidents put the argument for borrowing costs the rise by year�s end, in a bid to soothe concerns about the global economy that were stoked by the bank�s decision to hold fire Thursday.A strong greenback makes dollar-priced oil more expensive for holders of weaker currencies, hurting demand and prices.Analysts have said Monday�s strong price rebound looked more like a technical correction from heavy losses last week as the fundamentals of a crude oversupply outrunning demand remained intact.Traders are also closely monitoring progress on Iran�s compliance under a deal with western powers to curb its nuclear ambitions in return for the lifting of sanctions that will allow it to export more oil.On Monday, Iran said it independently collected samples at a suspect military site where illicit nuclear work is alleged to have occurred and later handed them to UN inspectors who were not physically present.In an apparent bid to stave off criticism, the chief of the UN�s International Atomic Energy Agency said "the integrity of the sampling process and the authenticity of the samples" was not compromised despite the absence of UN inspectors. (AFP)            
 The price of Liquefied Petroleum Gas (LPG) has been slashed by Rs10 per kilogram, announced Chairman LPG Distributors Association Irfan Khokhar on Wednesday.The announcement was made following the meeting of a delegation of LPG Distributors Association with the Federal Minister for Petroleum, Shahid Khaqan Abbasi here.The Chairman LPG Distributors Association said it was decided at the meeting that the price of LPG remains fixed at Rs75 per kg throughout the year.He said after the reduction of Rs10 per kg, the price of a commercial LPG cylinder stands slashed by Rs400.Irfan Khokhar further said that the rate of domestic LPG cylinder has been cut down by Rs100.             
 A plunge in a gauge of Chinese factory activity stoked fresh fears about the world�s number two economy and the global outlook Wednesday, sending Asian markets tumbling after a heavy sell-off in New York and Europe.Emerging market currencies -- already under pressure from an expected US interest rate hike and weak growth -- also took a battering as investors rushed into lower-yielding, or safer, assets such as the yen while oil prices eased.The losses extended a general downward spiral across the world as dealers fret over the state of the global economy, with a US recovery offset by China posting growth at 25-year lows, and Japan and the eurozone also struggling.On Wednesday China�s closely watched Purchasing Managers� Index (PMI) of manufacturing activity for September came in at a six-and-a-half-year low and showed the sector contracted further.The preliminary reading released by financial publisher Caixin came in at 47.0, down from August and missing expectations of 47.5. A result below 50 indicates shrinkage and anything above points to growth."The decline indicates the nation�s manufacturing industry has reached a crucial stage in the structural transformation process," He Fan, chief economist at Caixin Insight Group said in a statement accompanying the figures.He blamed the weakness mainly on sluggish external demand for Chinese goods and lower export prices.The figures come a day after the Asian Development Bank (ABD) said it had lowered its growth expectations for Asia because of the sharp growth slowdown in China, a key driver of global trade."It�s a confirmation of fears that were existing in the market already that China is in fact doing worse than we had been led to believe and there�s a lot of uncertainty about where that economy really is," Emma Lawson, senior currency strategist at National Australia Bank in Sydney, told Bloomberg News.Among Asian stock markets Shanghai sank 0.88 percent, Hong Kong was 1.90 percent lower and Sydney -- where a number of firms with strong China links are listed -- shed 1.70 percent.Seoul, Taipei and Singapore were also each down more than one percent.            
 Asian markets mostly recovered Thursday from the previous day�s sharp losses but Tokyo tumbled as investors returned from a long weekend to play catch-up, with auto giants hit by the Volkswagen scandal.The dollar edged up against most emerging market currencies ahead of a closely watched speech later in the day by Federal Reserve chief Janet Yellen, during which markets hope she will provide more clarity on the bank�s plans for an interest rate hike.Stocks and other high-yielding, or riskier, assets took a hit after the Fed�s decision last week to hold -- citing China�s woes and a developing market slowdown -- fanned concerns about the US and global economy.Those worries were exacerbated Wednesday when a closely watched gauge of Chinese manufacturing activity for September hit a six-and-a-half-year low, the latest ion in a string of results highlighting a severe slowdown in the world�s number two economy.The news sent shares in Asia plunging -- with Shanghai and Hong Kong down more than two percent -- followed by losses in New York.On Thursday, however, investors in most stock markets turned buyers, with Shanghai up 0.75 percent, Sydney adding one percent and Seoul 0.42 percent higher. However, Hong Kong continued to drop, shedding 0.44 percent.Tokyo tumbled 2.34 percent by lunch as trading began for the first time since Friday owing to a three-day public holiday."Japanese markets have still got some catch up to do after the uncertainty that�s been washing through global markets," Tony Farnham, a strategist at Patersons Securities in Sydney, said."The issue is gauging the extent of the slowdown in China and the ongoing debate about whether the Fed is doing the right thing" on when to raise interest rates.                                   
 Oil prices fell in Asia Monday as investors looked for further clues about the health of the Chinese and US economies, the world�s top crude consumers.US benchmark West Texas Intermediate for November delivery eased 48 cents to $45.22 and Brent crude for November dipped 47 cents to $48.13.Markets were rocked last week by news that a key gauge of manufacturing activity in China fell to a six-and-a-half-year low in September, the latest sign of slowdown in growth for the world�s second-biggest economy."For most commodities, a �hard landing� in China would be a far greater threat than a gradual tightening from the Fed," research firm Capital Economics said.It said that the manufacturing data is likely to improve over the remainder of the year.The US Federal Reserve held off raising interest rates during its September meeting, but on Thursday Fed chief Janet Yellen said she still expects a lift-off this year and that concerns about weaker global growth likely will not affect that plan.Focus this week "is likely to remain on China and particularly the equity market, which has recently shown signs of stabilising, and on the US ahead of the employment report on Friday", Capital Economics said in a market commentary.A rise in interest rates would likely boost the US currency, making dollar-priced oil more expensive for holders of weaker units, hurting demand.Prices are also under pressure owing to the prospect of Iranian oil returning to the oversupplied market following a landmark nuclear deal with major world powers reached in July.Under the agreement, the west will lift crippling economic sanctions if Iran curbs its nuclear ambitions, allowing the country to increase its oil exports. Tehran has denied western claims it is aiming to build an atomic bomb.Prices are expected to be volatile during the week, analysts said."With no major economic data announcements during the week except for the US unemployment rate due next Friday, crude oil prices will continue to seesaw," said Sanjeev Gupta, who heads the Asia Pacific oil and gas practice at professional services firm EY. (AFP)            
 Karachiites spent around Rs30 billion in sacrificing animals on this year�s Eidul Azha, which speaks volumes about the success of the ongoing crackdown against criminal elements in the provincial capital. Last year the prices of sacrificial animals had dropped considerably but on the contrary the rates of the cattle went through the roof this time around. So much so that people who went to the market to buy the sacrificial animal on the third day of Eid in a hope to get some discount had to return empty handed.According to the sales figures from Super Highway�s cattle market till the third day of Eid, 340,000 cows/bulls were sold. The sale of goats touched 140,000 while 3500 camels were sold till the third day.            
 The Oil and Gas Regulatory Authority confirmed on Tuesday that will send a summary to the Petroleum Ministry seeking a decrease in the price of petroleum products for October 2015.According to sources, OGRA has recommended a 10-paisa decrease in the price of petrol, and a Rs. 2.00/liter decrease in the price of diesel, HOBC and Kerosene.             
 Nepra allowed increase in the losses of distribution companies (Discos) by up to 15.3 percent from 13.03 percent in 2004 in the power tariff, inflicting a loss of Rs2.1 billion per annum, reveals the government�s official plan of managing the circular debt agreed to with the IMF, a copy of which is available with The News.Under the circular debt management plan, the government intends to reduce the circular debt from Rs314 billion (as of end of June 2015) to Rs212 billion by financial year ending June 30, 2018 while keeping within the target of 0.4 percent of GDP for subsidies to the power sector (about Rs128 billion) and 4 percent fiscal deficit. �At the end of each month, the circular debt will be maintained below the cap of Rs314 billion. �The circular debt management plan (or capping mechanism) will include reducing the increase of circular debt (flow) as well as the stock (outstanding amount). Policy induced public sector power entity debt including Power Holding Company Limited (PHCL) debt will be reduced from Rs335 billion to Rs220 billion by 2018. Collection from government customers will be rationalized, and subsidies will be on actual basis and paid according to schedule.� Independent energy experts say the power sector requires just over Rs1 trillion to run itself and if one percent loss appears in the system, it accounts for Rs10 billion. This means the consumers are currently paying over Rs150 billion in the tariff just under the head of losses. However, Nepra, which is supposed to pressurize Discos to bring down losses, has accommodated the inefficient power sector by increasing the losses to 15.3 percent from 13.03 percent. Nepra spokesperson admitted that the regulator had increased the losses of Discos by up to 15.3 percent in the tariff from 13.03 percent insisting that it will add the additional burden of Rs2.1 billion, saying one percent loss means damage of just Rs1 billion that will be recovered from the consumers in the tariff. Nepra had earlier fixed the allowed losses for Discos for 2013-14 at 13.02 percent compared to 18.7 percent. The 5.6 percent difference between determined loss and actual loss accumulated as circular debt of Rs33.6 billion in financial year 2014. Now the regulator for financial year 2015 allowed 15.3 percent compared with expected losses of 18.70 percent, narrowing the gap between allowed and actual losses, but it will still result in accumulation of circular debt of Rs32 billion due to increase in generation. In the short term, there is little that can be done about the flow because the tariffs have been determined. Nepra as a condition of its determinations requires Discos to conduct a study on technical losses to justify the need for increase and to set out future loss reduction initiatives, to be conducted by independent consultants but the results are unlikely to show an effect until financial year 2016 determinations. For the purposes of this circular debt management plan, it is assumed that reductions in losses will reduce the flow of circular debt from Rs32 billion to Rs11 billion. The privatization programme, according to the document, is also likely to reduce excess line losses to the extent of the companies that will be privatized. With expected privatization of three Discos in FY 2016, multi-year tariff (MYT) will have been determined instead of annual tariff determinations and this will give incentives to the new owners to improve losses against the Nepra benchmarks; in any event, the costs of any underperformance will be the responsibility of the new owner. For the Discos not privatized, the surcharge mechanism will still be used to rationalize subsidies dealing with Sector Inefficiencies and recover costs of service.                                   
 Finance Minister Ishaq Dar said on Wednesday that the prices of all petroleum products would remain unchanged for the next month (October).Addressing a news conference in Islamabad this evening, he said that the Oil and Gas Regulatory Authority (OGRA) had recommended a nominal decrease of 15 paisa in the price of petrol and an increase or decrease of Rs 2.51 to Rs 2.99 in prices of other products.Dar said after consultations with Prime Minister Nawaz Sharif over telephone in New York, it has been decided to keep the prices of POL products unchanged.The minister went on to say that the last date for filing of Income Tax Returns has been extended till October 31.He added that the concessional rate of withholding tax on banking transactions for non-filers would also remain applicable for another month at the demand of traders.             
 The deadline to file income tax returns has been extended till October 31. The original deadline to file tax returns was set to expire today (September 30). The decision was taken during the meeting of the Economic Coordination Committee (ECC) chaired by Finance Minister Ishaq Dar. The Federal Board of Revenue (FBR) spokesman informed the committee that 100,000 people had filed their income tax returns online.Speaking to the media after the meeting, Finance Minister Dar said after holding consultations with Prime Minister Nawaz Sharif the price of petroleum products would remain unchanged for October.              
 Asian stocks recovered slightly Wednesday from a mass sell-off in the previous session, with emerging currencies ending a tough quarter on a high but analysts warned of further volatility ahead.Mining giant Glencore almost halved Tuesday�s 30 percent losses after it moved to reassure investors its business remained robust, following rumours in financial circles it might soon be delisted as it is buffeted by weak commodity prices and China�s slowdown.The next focus point is on a speech due to be given by Federal Reserve boss Janet Yellen later in the day, with hopes she will shed more light on the bank�s plans for raising US interest rates.Regional equities and risk assets went into a sharp reverse Tuesday, tracking a slump in New York and Europe after another batch of disappointing Chinese data fanned fresh fears about the world�s number two economy.But buying picked up on Wednesday, the last day of a torrid quarter that has seen trillions wiped off global valuations, sparked by Beijing�s shock devaluation of its yuan currency last month. Traders were given a mostly positive lead from Wall Street, while the Dow and S&P 500 edged up.Hong Kong-listed shares of Glencore, which has been hammered by soft resources demand in China that led brokerage Investec to question its future if prices did not improve, were the stand-out winner as it rallied after Tuesday�s crash.The firm rose 15 percent in early trade after the debt-laden Swiss company insisted its business was "operationally and financially robust"."We have positive cash flow, good liquidity and absolutely no solvency issues," it said in a statement.The firm�s London-listed stock ended up 16.95 percent Tuesday, recovering a good part of the 29-percent loss it suffered the previous day.In Asian trade Wednesday Tokyo rose 1.87 percent by the break, Hong Kong added 0.80 percent, Sydney was 0.98 percent higher and Shanghai put on 0.72 percent. Seoul, which was closed on Monday and Tuesday for a public holiday, eased 0.62 percent.                                   
 Minister for Finance, Ishaq Dar on Thursday said Pakistan�s foreign exchange reserves have risen to the highest level in the country�s history at $20.07 billion.At a press conference here, the Finance Minister said with this development the incumbent government�s promise of taking the forex reserves to $20 billion stands fulfilled.Of the country�s total liquid reserves of $20.07 billion, $15.24 billion are held by the State Bank of Pakistan (SBP) while $4.83 billion are with the commercial banks.He said receipts under various heads have materialized, pushing the level of foreign exchange reserves to over $20 billion. These receipts include proceeds from Euro Bond, tranche from International Monetary Fund (IMF), Coalition Support Fund (CSF).Ishaq Dar said in February last year Pakistan�s foreign exchange reserves stood at $2.75 billion and at that time no one would have imagined that in a matter of such a small period of time these reserves would touch the present level.The Finance Minister greeted the nation over what he termed a landmark achievement.            
 The FBR is facing revenue shortfall of Rs63 billion during first quarter (July-Sept) period of the current fiscal year as the tax collection stood at Rs584 billion against desired target of Rs647 billion. It seems that the FBR will be facing uphill task for achieving revenue collection target of Rs 3104 billion for the current fiscal year.The government argues that the revenue collection went up by 30 percent over the last two years as the collection touched Rs2590 billion during the last fiscal year.However, according to provisional revenue collection figures, FBR has provisionally collected Rs584 billion during first quarter of July-September (2015-16) against target of Rs647 billion, reflecting a shortfall of Rs 63 billion. The provisional revenue collection during first quarter of July-September (2015-16) stood at Rs 584 billion against Rs 541 billion in the corresponding period of 2014-15, reflecting a growth of 8 percent.The FBR has provisionally collected Rs 253 billion for September 2015 against Rs 228 last year, showing a growth of 11 percent.The breakup of tax-wise targets for first quarter of July-September (2015-16), target of direct taxes is Rs 245 billion, sales tax Rs 295 billion, FED Rs 38 billion and target for customs duty has been set at Rs 68 billion.                                   
 Pakistan and the Republic of Korea signed a framework agreement amounting to US$500 million in Islamabad on Friday which will enable Pakistan to complete various projects with Korean assistance. The projects include improvement of Power distribution systems, hydro-power, road infrastructure, information technology as well as the Health Sector.The Secretary Economic Affairs Division and the Ambassador of the Republic of Korea signed the Framework on behalf of their respective governments. On the occasion, Finance Minister Senator Ishaq Dar appreciated the role and cooperation extended by the Republic of Korea for development projects in Pakistan. He said the Framework Arrangement will enable Pakistan to seek financing from Korean Exim Bank for development of Energy and other Infrastructure Projects in Pakistan. The Ambassador of the Republic of Korea said that Korea would extend all possible cooperation for economic development of Pakistan.            
 The gas-rich United Arab Emirates will invest $35 billion in clean energy by 2021 as it seeks to reduce its dependence on fossil fuels following crude�s global price slide, it said Sunday."By 2021, our investments in nuclear and solar projects will reach $35 billion (31 billion euros)," Energy Minister Suhail al-Mazrouei said at an energy conference in Abu Dhabi.He said that the UAE�s four nuclear reactors currently under construction will, once operational, "provide 24-25 per cent of electricity consumption in the country".An international consortium led by Korea Electric Power Corp won a contract in 2009 worth more than $20 billion to build the four 1,400-megawatt reactors at Baraka, west of Abu Dhabi."Our aim is to increase the share of renewable energy to 30 per cent between now and 2020/2030, and to reduce that of natural gas to 70 per cent," Mazrouei said.Speaking on the sidelines of Sunday�s conference, he told AFP that "this diversification also seeks to ensure price security and stability" for consumers.He added, however, that as overall demand continues to grow, the UAE�s gas production would follow suit.Mazrouei said Abu Dhabi was determined to maintain investment in development projects in spite of the global fall in oil prices, which have slid by more than half since June 2014."We are going to continue our development projects on schedule," he added.                                   
 Air France's human resources manager had his shirt stripped from him as he was "almost lynched" on Monday by workers protesting at a plan to cut 2,900 jobs from the struggling airline.Bosses were unveiling a revamped restructuring plan after pilots rejected an earlier proposal to work longer hours. But the board meeting was cut short when hundreds of striking workers stormed into the airline�s headquarters in Roissy, outside Paris.Human resources manager Xavier Broseta "was almost lynched", according to one union delegate, and had his shirt ripped off as he clambered over barriers to escape, helped by security guards. CEO Frederic Gagey also made a hasty exit, and the board said the meeting would not resume on Monday.The management condemned the "physical violence", and said it would file complaints to the police. Transport Minister Alain Vidalies said the violence was "unacceptable". "They do nothing to advance the search for a solution for Air France," he said in a statement.The loss-making airline, which employs 52,000 people, is struggling in the face of fierce competition from global rivals.It had tried to convince pilots, who earn up to 250,000 euros ($280,000) a year, to fly 100 more hours annually for the same salary, but talks broke down last week with pilots saying the plan amounted to an effective pay cut. The French government, which owns a 17.6-percent stake, has criticised the pilots, with Prime Minister Manuel Valls denouncing their "hardline" attitude."If Air France does not evolve then it puts itself in danger," Valls said at the weekend.- �Spectators to a crash� -Four unions announced a strike to coincide with Monday�s meeting. It was not clear how many staff were taking part, but the airline said flights would be unaffected beyond some check-in delays. Not all staff support the pilots, who also led a record-long strike a year ago that cost the company nearly half a billion euros."Ground staff, stewards and hostesses feel they have made enormous efforts without ending up in a position to influence decisions," Beatrice Lestic, of the CFDT union, told Le Parisien newspaper. "They are now spectators to a crash in which they will be the first victims," she said.Seeking to sharpen its competitive edge against main European rivals Lufthansa and British Airways-Iberia, the management�s new proposals include ending five long-haul routes, reducing the frequency of other flights, and selling 14 planes over the next two years.Although the company says it favours voluntary departures, Gagey has indicated compulsory redundancies may be necessary for the first time, "otherwise we would not make hoped-for progress in terms of productivity".Sources at Monday�s meeting said the plan includes the possibility of dismissing 300 pilots, 900 air hostesses and stewards, and 1,700 ground staff. The company already shed 5,500 posts via voluntary departures between 2012 and 2014 as it battled competition from low-cost carriers and Gulf airlines. Pilots were also behind a record-long two-week strike in September 2014, which knocked 416 million euros off turnover and was described as "catastrophic for the French aviation sector" in a joint statement from key industry unions.The striking pilots opposed the expansion of Air France�s low-cost subsidiary Transavia.Air France, which merged with Dutch national carrier KLM in 2004, is trying to cut costs over two years by 1.8 billion euros.A source close to the deal told AFP Monday that as part of its cost-cutting plan, Air France is to enter into discussions about cancelling all or some of the Boeing 787s it has on order.The airline ordered 25 of the 787-9 Dreamliners in 2011.The source said: "We are going to contact our suppliers from tomorrow to ask them if possible to cancel the scheduled delivery of the 787 planes."Discussions will be opened and they could end in cancellations, that�s our approach."            
 Twelve Pacific rim countries sealed the deal Monday on creating the world's largest free trade area, delivering President Barack Obama a major policy triumph.The deal on the Trans-Pacific Partnership, led by the United States and Japan, aims to set the rules for 21st century trade and investment and press China, not one of the 12, to shape its behavior in commerce to the TPP standards."After five years of intensive negotiations, we have come to an agreement that will create jobs, drive sustainable growth, foster inclusive development, and promote innovation across the Asia Pacific Region," said US Trade Representative Michael Froman. The hard-won deal to create the world�s largest free-trade area, encompassing 40 percent of the global economy, came after five days of round-the-clock talks in an Atlanta hotel.President Barack Obama, who made the TPP a priority of his second term, said the accord reached in Georgia "reflects America�s values and gives our workers the fair shot at success they deserve." "When more than 95 percent of our potential customers live outside our borders, we can�t let countries like China write the rules of the global economy," Obama said in a statement. "We should write those rules, opening new markets to American products while setting high standards for protecting workers and preserving our environment."More than 18,000 taxes imposed by various countries on US products will be eliminated thanks to the partnership, he added. - �Shape the future� -The accord involves significant market openings from Canada, the United States and Japan but also sets controversial new patent standards for cutting-edge biologic drugs and demands countries like Vietnam, Mexico and Malaysia improve labor standards."This agreement in my view is truly transformational," said Canada Trade Minister Ed Fast."The magnitude and importance of rules for 21st century issues can�t be underscored enough.... It will shape the future for many trade agreements in this 21st century." The talks went four days past deadline to resolve conflicts over Canada and Japan opening up their dairy markets to New Zealand exports, and objections from Australia, Peru and Chile to the US push for longer biologic patent protections.Trade ministers said the landmark deal addresses new issues like data trade, foreign investment protections and intellectual property that have not been covered in multilateral trade pacts of the past. New Zealand Trade Minister Tim Groser said his side of the talks went to 5 am Monday morning before an agreement was set.The deal is "profoundly important and beneficial to the generations of people in our respective countries," he said.The accord still must be signed and ratified by the respective countries, which also include Singapore and Brunei.In Canada, facing a national election in two weeks, and in the United States, with elections coming in one year, that could prove particularly difficult.US members of Congress have already warned that they will not ratify any deal that gives up too much in US interests.Powerful Senator Orrin Hatch warned Monday that he will scour the deal "to determine whether our trade negotiators have diligently followed the law so that this trade agreement meets Congress�s criteria and increases opportunity for American businesses and workers."            
 Oil extended gains in Asia Monday as a decline in US drilling pointed to a slowdown in production, but concerns over demand remain after a disappointing US jobs report.A report from Baker Hughes Inc. said the number of active rigs in the United States fell by 26 to 614 last week, the lowest in five years, helping ease concerns over the global crude oversupply that has depressed prices.But poor unemployment data from the US continued to weigh on the market.The US Labor Department said Friday that jobs growth in the world�s biggest economy and top oil consumer faltered in September and the labour market weakened across the board.This has stoked concerns about demand for the commodity at a time when the Chinese economy is also slowing down amid a crude supply glut, analysts said.The US economy added a disappointing 142,000 jobs during the month, well below analyst estimates of 205,000 and the August jobs level of 173,000 was revised sharply lower to 136,000, surprising analysts.The July number also was lowered, bringing the average for the past three months to 167,000 jobs, lagging behind the 200,000-plus growth trend seen earlier in the year and in 2014.The unemployment rate, measuring those without work but actively seeking jobs, was unchanged as expected at 5.1 percent, the lowest level since 2008.The jobs data suggested that the US economy was being affected by the China-driven global slowdown and market volatility.In morning Asia trade, US benchmark West Texas Intermediate for November delivery was up 11 cents to $45.65 and Brent crude for November jumped 15 cents to $48.28 a barrel.Both contracts also rose on Friday after a decline in US oil drilling bolstered hopes of lower production to ease the global oversupply."The disappointing US jobs report for September will clearly do little to improve investor confidence in the global economy," research house Capital Economics said."Yes, it will probably delay the first interest rate hike from the Fed until early next year."Analysts had predicted the Federal Reserve would raise interest rates either this month or in December after policymakers held back during a meeting in September.The Fed has said the timing of a rate increase will depend on the health of the US economy.                                   
 Federal Minister for Finance, Ishaq Dar on Tuesday said he has prevented his sons from undertaking any business venture in Pakistan.Speaking in Geo News program �Capital Talk� hosted by senior anchor Hamid Mir, Dar said as long as he is in the field of politics he would ensure that his sons never become part of any business activity in Pakistan.He said he reserves the right to go into litigation against National Accountability Bureau (NAB) which, according to him, hurled allegations at him over an anonymous complaint.            
 Chinese investors have showed keen interest to enter into joint ventures with their Pakistani counterparts in the fields of solar and coal power generation projects, a statement said on Monday.A two-member Chinese delegation, comprising Asia-Pacific CEO Sun Huoi and Miss Fang Wong from MenShine Fang Wong called on LCCI President Sheikh Muhammad Arshad.The delegation members said that the Chinese business community values Pakistan highly; therefore, they were always ready to put their money in new ventures in Pakistan.The delegation members said that they are also planning to step into joint ventures with the businessmen of United Arab Emirates (UAE).The LCCI president said that China is a time-tested friend and a very important partner in Pakistan Economic Development and bilateral trade.            
 Buoyant oil prices sustained a rally in Asia Wednesday driven by hopes the crude supply glut would ease and expectations the US central bank would hold off from raising interest rates.A softening of the US currency also helped bolster prices as the dollar-priced commodity becomes cheaper for holders of weaker units, spurring demand, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery rose 55 cents to $49.08 and Brent crude for November advanced 40 cents to $52.32 a barrel in late-morning trade.Prices fell to six-year lows in August on strong production from the United States and the Organization of the Petroleum Exporting Countries, but have since crept higher.The recent rally began last week after data showed a drop in US drilling activity, raising hopes this would help ease the oversupply.The US Department of Energy has forecast production to decline to an average of 8.9 million barrels per day next year from 9.2 million in 2015.Expectations that the Federal Reserve, the US central bank, would not raise interest rates this year because of the weak global economy also boosted oil prices, analysts said."We no longer look for lift-off until the first quarter of 2016. It may not come then either," DBS Bank said.Bernard Aw, market strategist at IG Markets in Singapore, said an interest rate hike seemed less likely after the International Monetary Fund (IMF) on Tuesday downgraded its growth forecasts for the world economy.The global economy will expand just 3.1 percent this year and 3.6 percent next year, the IMF predicted, revising downward its previous forecasts by 0.2 percentage points in both cases."It is no secret that the IMF wants the Fed to delay its planned rate hike until next year, and the economic undercurrents increasingly lean towards that direction," Aw said."Furthermore, the IMF sees risks for emerging economies."A rate increase will typically boost the dollar, making oil more expensive, hurting demand and prices.                                   
 An International Monetary Fund (IMF) report on Tuesday said that the government of Pakistan has given a timetable for privatisation to IMF according to which privatisation for Pakistan International Airlines (PIA) will be completed by December this year, while for Pakistan Steel Mills (PSM) by March 2016.Meanwhile, speaking on conference call to journalists in Pakistan, IMF Mission Chief Pakistan, Harald Finger, said that the privatization of public entities in Pakistan is slow, however, the delay process exists in most countries. He added that the restructuring of railways is highly recommended.He went on to say that distributing companies in the power sector need to be privatised, while the collection of bills needs to increase, theft should be controlled and reduction in line losses should be maintained.Harald Finger further said that circular debt stands at 2 percent of the GDP and over three years it needs to come further down.            
 Pakistan�s total liquid foreign exchange reserves have risen to 20.05402 billion dollars, said State Bank of Pakistan (SBP) on Thursday.According to SBP, the forex reserves held by the SBP on October 2 amounted to 15.202 billion dollars while the net foreign reserves with other banks stood at 4.85202 billion dollars.During the week ending October 2, SBP�s liquid foreign exchange reserves increased by 1.794 billion dollars to 15.202 billion dollars compared to 13.408 billion dollars in the previous week.During the week, the SBP received 505 million dollars from International Monetary Fund (IMF) under EFF, 500 million dollars as proceeds of Pakistan International Bonds, 376 million dollars under Coalition Support Fund (CSF) and 263 million dollars as syndicate financing for Government of Pakistan. (APP)            
 Erratic monsoon rains have made it increasingly hard for rice farmer Sardar Muhammad to bring in a good harvest. But learning how to plant seed directly in his fields � rather than transplanting seedlings, as farmers have for centuries in parched Punjab province � is helping him manage scarce water better and get a decent crop. Growing rice this way "requires less labour, less irrigation", he said. The rice seed is sown straight into moist soil and does not require continuous submergence.So far 30 farmers have applied the improved, water-saving rice cultivation technique on a total of 48 hectares (118.6 acres) in Punjab province. With the traditional method, in contrast, rice seedlings are first cultivated in nurseries for several weeks before being transferred to flooded fields. About a third more water is required through the growing cycle, and the crop takes 15 to 20 days longer to mature. On average in Pakistan, some 3,000 litres of water are used to produce 1 kilogramme of rice, which is the main staple food.But as the country's already scarce water resources dwindle, there is increasing pressure to find more water-efficient growing methods. A recent report from the Planning Commission of Pakistan shows that, in 1951, per-capita water availability was 5,650 cubic metres. By 2010, that figure had plunged to 1,000 cubic metres and is projected to fall to 800 cubic metres by 2025, when the population is expected to hit 221 million.Finding ways to grow more food with less water will be crucial in Pakistan as climate change alters weather patterns, affects monsoon rainfall and reduces groundwater, experts say.Planting rice directly in fields may be one way to keep up food production and help reduce the migration already happening as hard-hit, small-scale farmers give up on their fields and trek to towns and cities in search of other work.INNOVATION BENEFITSMuhammad, who grows rice on his family's 15 hectares (37 acres) in Sheikhupura district, said switching to the new planting method had cut the amount of irrigation needed in his rice fields by around 40 percent, a crucial change as groundwater levels drop."This is really no small benefit," he said, smiling. "This is helping us adapt to water shortages."Muhammad learned the new technique under a four-year agricultural innovation programme, launched in 2013 by partners including the US Agency for International Development (USAID) and the International Rice Research Institute.The $30 million project aims to help Pakistan's farmers boost their profits while coping with climate change risks to the sustainability of water and agriculture, said John Groarke, head of USAID in Pakistan.Besides its work on rice, the programme has introduced heat-tolerant maize and higher-yielding wheat varieties, he added.Muhammad Ibrahim Mughal, chairman of Agri Forum Pakistan, a farmers' rights organisation, said traditional rice cultivation was time-consuming and laborious, as farmers spend long hours bent over in fields.It has also become less viable as river flows decrease and groundwater declines, he added.As a result, farmers are now increasingly willing to experiment with the new growing technique, said Sardar Karim, another farmer from Punjab province.Direct sowing is producing a 25 percent boost in harvests under ideal conditions on the test plots, said Iftikhar Ahmed, chairman of the Pakistan Agricultural Research Council.                                   
 National Electric Power Regulatory Authority (NEPRA) has announced an advance tariff for a local company engaged in the generation of electricity through a solar plant.NEPRA in its decision has fixed the per unit rate of the electricity produced here at Rs15.77.The company that produces 12 MW of electricity through a solar plant had applied for the advance tariff. This project is meant to be installed at Adhikot area of Tehsil Thal, District Khushab.            
 The All Pakistan Textile Mills Association (APTMA) Punjab Zone will observe a black day on Wednesday the 14th of October to protest against the Punjab government not having accepted their demands. Addressing a press conference in Lahore, Chairman APTMA Punjab, Amir Fayaz said the association had been conveying their reservations and grievances to the government for the last many months, but the government has done nothing besides offering comforting statements. He stressed that due to existing electricity tariffs and the shortage of gas, the textile industry is suffering. He added that approximately 30-35 mills have shut down, adding that on the 14th of October all mills will remain closed.             
 Managing Director Nandipur Power Project, Mohammad Mehmood on Wednesday was sacked by the ministry of water and power amid allegation of corruption.According to an official notification, Tariq Bhatti has been given the post replacing Mehmmood, who has also been directed to report to the ministry.Prime Minister Nawaz Sharif had ordered an audit of the controversial project after allegations of corruption surfaced in September this year.Acting upon the prime minister�s orders, the water & power ministry directed the Auditor General to conduct the audit with three terms of reference: (1) Reason behind the increasing cost of the project (2) Amount that has been spent so far (3) Whether the Board, Administration of the project and the contractor fulfilled their responsibilities.                                   
 Crude prices fell Thursday awaiting the release of official data on the levels of US commercial energy inventories for clues on demand in the world�s biggest oil consumer.US benchmark West Texas Intermediate (WTI) for delivery in November delivery dropped 63 cents to $46.01 a barrel from Wednesday�s close.Brent North Sea crude for November delivery fell 18 cents to stand at $48.97 a barrel in London afternoon deals.The US Department of Energy will publish inventory data against a backdrop of market concern about a supply glut owing in part to weaker demand from China, the world�s biggest energy consumer.Prices had fallen Wednesday, as weak Chinese trade data and poor consumer spending numbers in the US added to a picture of a slowing global economy.Underpinning the bearish sentiment has been a forecast this week from the International Energy Agency that pointed to much slower oil demand growth next year.US crude inventories are meanwhile expected to have risen last week.A Bloomberg News survey showed stockpiles are expected to have increased by 2.58 million barrels in the week to October 9.                                   
 Pakistan and Russia on Friday signed an inter-governmental agreement for the construction of 1100-kilometer gas pipeline project from Karachi to Lahore.Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi and Russian Energy Minister Alexander Novak signed the agreement at a ceremony also attended by Prime Minister Nawaz Sharif in Islamabad today.The 1,100 kilometer pipeline with a capacity of 12.4bcm per annum will connect liquefied natural gas (LNG) terminals of Karachi with those of Lahore.Russia will make an investment of $2 billion in the project, the first phase of which is expected to be completed by December 2017.                                   
 Chairman All Pakistan Textile Mills Association (APTMA), Tariq Saood on Saturday said government seems to be showing some flexibility in connection with bringing down the power tariff and taxes.He was talking to media persons after a delegation of APTMA and representatives of textile exports association held a meeting with the Federal Minister for Finance, Ishaq Dar here.The APTMA Chairman said talks were underway with the government over their demand for a reduction in Rs170 billion additional taxes on Textiles Sector.During the meeting, he said, the delegation also called for bringing down regulatory duty on import of Indian yarn besides slashing the prices of electricity and gas tariffs.He said now the APTMA delegation was in talks with Advisor Revenue, Haroon Akhtar and Chairman Federal Board of Revenue (FBR).                                   
 The prices of petroleum products are expected to increase next month (November) in Pakistan. According to sources the price of petrol will increase by Rs3.43/litre and diesel by Rs.2.80/litre. The price of kerosene oil will rise by Rs3.00/litre. The final estimate for the price increase will be made on October 26.              
 Oil fell in Asia Monday after official data showed China�s economy posted its slowest growth for more than six years in the third quarter, reinforcing worries about demand from the world�s top energy guzzler.The government said gross domestic product (GDP) for the world�s second-biggest economy rose 6.9 percent in the three months to September, beating market forecasts but still the worst since 2009.Growth in China�s industrial production, which measures output at factories, workshops and mines, also dropped sharply to 5.7 percent year-on-year in September, the government said."Although China�s retail sales turned out strong, industrial related data remained weak. This would likely be weighing down on commodity usage in China," Daniel Ang, an investment analyst with Phillip Futures in Singapore, said in a market commentary."With weak Chinese industrial production, we may see Chinese manufacturing PMI worsen, thus, leading to weaker oil prices," he said, referring to the forward-looking Purchasing Managers� Index to be released later this week.The market will also be on the lookout for economic data from the United States and the eurozone expected to be released this week."Considering the expectations for both China and eurozone, we could see US being the tie breaker between oil bulls and bears. US data has not been exceptionally strong, and thus, could mean that oil prices could be facing some headwinds towards the end of the week," Ang said.In Asian trade, US benchmark West Texas Intermediate for November delivery was down 10 cents to $47.16 and Brent crude for December fell 12 cents to $50.34 a barrel at around 0300 GMT.Both contracts fell for four straight trading days last week before advancing Friday on the back of data showing a fresh decline in US oil exploration, which suggested lower output that could help ease the global oversupply.Sanjeev Gupta, head of the Asia Pacific oil and gas practice at professional services firm EY, said the market will also be seeking clues from a meeting of OPEC and non-OPEC technical experts in Vienna on Wednesday.Oil-producer Russia said last week it was prepared to discuss output cuts during the meeting.                                   
 Oil prices dipped in Asia on Wednesday as traders anticipated an increase in US crude inventories when weekly data from the Energy Information Agency (EIA) is released later in the day.US benchmark West Texas Intermediate (WTI) for delivery in December eased 23 cents to $46.06 per at around 0400 GMT.Brent North Sea crude for December was 11 cents lower at $48.60.Bernard Aw, market strategist at IG markets in Singapore, said traders had "renewed concerns" over the worsening oversupply problem.The "American Petroleum Institute reported that US crude inventories may have expanded by around 7 million barrels last week, which gave credence to the expectations of increased stockpiling ahead of official Energy Information Agency data", Aw told AFP.A build-up in the inventories data by the EIA for the week ending October 16 would indicate softer demand, in turn dampening prices."The overall picture for oil remains unchanged. The oversupply issue is expected to stay for a while longer until global demand picks up," Aw added.Traders are also wary of the return of Iranian oil supplies into the market as Tehran and world powers begin to implement a deal aimed at curbing Iran�s nuclear programme in exchange for the lifting of crippling economic sanctions.            
 The Asian Development Bank (ADB) will extend financial assistance of 178 million dollars to Pakistan on easy installments for 20 years.The agreement in this regard was signed between Secretary Finance and Country Director ADB here on Thursday.Speaking on the occasion, Finance Secretary Salim Sethi said the amount will be spent on the construction of Gojra-Shorkot motorway.He said the motorway�s 62 kilometer section is part of the Pak-China Economic Corridor. Salim Sethi said the construction of Gojra-Shorkot motorway will cut by half the travel duration of Islamabad-Toba Tek Singh and Lahore-Toba Tek Singh.            
 National Electric Power Regulatory Authority (NEPRA) has approved Rs2.88 per unit cut in power tariff for the month of September.The authority approved the reduction while hearing on plea for fuel adjustment for the month of September at NEPRA headquarters.Speaking on the occasion, NEPRA Chairman Tariq Sadozzai said consumers will get a relief of Rs24.39 billion, adding that the decision is applicable for all the power distribution companies except K-Electric.            
 Oil prices edged up in Asia Thursday, lifted by bargain-hunting following a sharp decline the day before, although analysts said the market remains hobbled by an oversupply of the commodity.A report released Wednesday showing a bigger-than-expected increase in US crude stockpiles has stoked fresh worries about a global glut that has depressed oil prices for more than a year.US benchmark West Texas Intermediate for delivery in December rose 25 cents to $45.45 and Brent crude for December climbed 21 cents to $48.06 a barrel at around 0300 GMT.The rebound followed Wednesday�s steep fall after the US Energy Information Administration said the country�s commercial crude-oil inventories jumped by eight million barrels to 476.6 million in the week ending October 16.The increase, which typically indicates weaker demand in the world�s number one economy, was more than double market expectations.Oil prices took a hit at the start of the week when China said gross domestic product grew in the third quarter at its slowest pace in more than six years."Worries about the health of the Chinese economy continue to batter commodities prices. In the US, crude stockpiles surged ... and supply glut remains a concern," said Sanjeev Gupta, who heads the Asia Pacific oil and gas practice at professional services firm EY.Gupta said a meeting between OPEC and non-OPEC oil producers on Wednesday "did not produce any meaningful results as no potential production cuts were addressed".Russia had said it was prepared to discuss a reduction with members of the cartel at the meeting in Vienna.Gupta said the market will be looking at a December 4 policy-setting meeting of the Organization of the Petroleum Exporting Countries which is expected to "provide vital clues about price development in the medium term".OPEC, which includes Saudi Arabia, Kuwait and the United Arab Emirates, has maintained high production levels despite the oil price decline, as members seek to maintain market share.                                   
 Asian stocks on Monday were close to wiping out all their losses since China�s shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates and US tech giants provided upbeat earnings guidance.MSCI�s index of Asia-Pacific shares outside Japan rose 0.5 percent to hit its highest since Aug. 12, led by 1.2 percent gains in Honk Kong. Japan�s Nikkei rose 1.1 percent to a two-month high.The surprise move by China lifted risk assets that had been already boosted by Thursday�s message from the European Central Bank that it stood ready to enhance quantitative easing and cut interest rates to even deeper negative levels."These moves by the ECB and China are raising speculation that the Bank of Japan will act later on this week as well," Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management. The BOJ will hold its next policy review on Friday.The US Federal Reserve is also widely expected to refrain from raising rates at its two-day policy meeting on Tuesday and Wednesday.Against these backdrop, the MSCI's index of the world's share markets shot up to its highest level since Aug. 20, having risen more than 10 percent from its two-year low hit less than a month ago.It has recovered most of the losses since Aug. 11, when China's sudden devaluation of the yuan sparked worries its economy may be in deeper trouble than many had thought.On Wall Street, S&P 500 Index rose 1.1 percent to turn positive on the year, while the tech-heavy Nasdaq jumped 2.3 percent.Technology shares led the way, thanks to gains in Alphabet, Amazon and Microsoft, after the three companies reported earnings results. The former two hit record highs, while Microsoft rose to a 15-year high.Mainland Chinese shares rose on Monday after China cut the benchmark one-year lending rate - for the sixth time in less than a year - by 25 basis points to 4.35 percent, and lowered big banks' reserve requirement ratio late.Gains were fairly limited, however, with Shanghai composite index up just 0.5 percent.Naoki Tashiro, the president of TS China Research, noted that in the week following each of the past year's five rate mainland shares rose three times but fell twice."Mainland investors are cautious. The market has been rallying so far this month, so some investors could may well take profits into rally," he said.One big focus is Chinese Communist party's central committee meeting from Monday to Thursday to set out a new five-year plan, while investors attempt to gauge how much China's growth is likely to slow in coming years.Ahead of the central committee meeting, Premier Li Keqiang said that China has never stated the economy must grow seven percent this year, coinciding with remarks by a top central bank official on Saturday that China would be able to keep annual economic growth at around 6-7 percent over that period.Risk sentiment supported by Thursday's message from European Central Bank President Mario Draghi that the bank stood ready to enhance quantitative easing.That saw the Italian and Spanish two-year government bond yields both turn negative for the first time, meaning investors effectively pay to hold them.The benchmark German two-year yield fell further to minus 0.345 percent.As negative yields undermine the attraction of holding the euro, traders pushed it to a 2 1/2-month low of $1.0989 in early Asian trade. It last stood at $1.1031, bouncing back on profit-taking.The yen dipped to 121.60 to the dollar, its lowest since late August as traders speculated the Bank of Japan might unleash additional easing on Friday, before bouncing back to 121.16 on profit-taking."The Japanese economy is weaker than in August and there's no sign of a rebound. Markets are now expecting easing from the BOJ," said Takeru Ogihara, chief strategist at Mizuho Trust Bank.Despite a recovery in global equity prices, oil prices were softer, pressured by ongoing oversupply worries.Brent futures stood at $44.68, hardly recovering after a fall of 5.6 percent last week, not far from three-week low of $44.20 touched on Friday.                                   
 European lawmakers on Tuesday approved an end to loathed mobile phone roaming charges in the EU by 2017 and adopted rules to ensure open internet access."This abolition of roaming surcharges has been long awaited by everybody: ordinary people, start-ups, SMEs and all kinds of organisations," said Pilar del Castillo, the Spanish MEP who helped steer the legislation through the European Parliament.Roaming charges vary enormously between telecoms operators and many users have ended up paying exorbitant rates -- often without knowing in advance -- to make calls when travelling within the 28-nation European Union.Also included in the telecoms package were rules to ensure what is known as "net neutrality," meaning unfettered access to the Internet, although critics said they do not go far enough.Earlier this year, the US telecoms regulator put in place "open Internet" rules to prevent operators offering different rates of access depending on fees or the services offered.The EU rules are largely the same but they do offer some leeway to operators to market different services. "Thanks to this agreement, Europe will also become the only region in the world which legally guarantees open internet and net neutrality," del Castillo told parliament in the eastern French city of Strasbourg."The principle of net neutrality will be applied directly in the 28 member states. It also ensures that we will not have a two-speed internet," she said in a parliament statement.Critics said both measures were welcome but more should be done, especially on internet access.Monique Goyens, head of the European Consumer Organisation, said that while "access to the open Internet is now a legal right for all EU consumers ... deficiencies remain."            
 Oil prices extended losses in Asia Tuesday on expectations of a rise in US crude inventories and following forecasts that a global supply glut will persist into next year.The US Energy Information Administration (EIA) will release Wednesday its weekly report on the country�s commercial crude inventories for the week ending October 23, which is seen as a gauge for demand in the world�s top oil consuming nation. Analysts expect another build-up."Oil prices remain near two-month lows as oversupply issues stay in the forefront... Fundamentals re-exerted themselves," Bernard Aw, market strategist at IG Markets in Singapore, told AFP."There is a belief that US inventories are on the rise, which would prolong the global glut," he said."The EIA on Wednesday will provide colour to the view."In Asia, US benchmark West Texas Intermediate (WTI) for December delivery was trading 63 cents lower at $43.35 and Brent eased 43 cents at $47.11 a barrel at around 0300 GMT.Both contracts were down on Monday after stretching losses into a second week on Friday.The losses came after Fatih Birol, executive director of the International Energy Agency, said at an energy conference in Singapore on Monday that it saw "ample supply in the market" until mid-2016.Prices fell to six-year lows in August but bounced back earlier this month to trade above $50, lifted by upbeat comments on the demand outlook from the head of the OPEC cartel of crude producers.The rally however was not sustained as oversupply concerns resurfaced. Current price levels are more than 50 percent below peaks of more than $100 reached in June last year.                                   
 The value of US dollar once again seems to be going out of control, as it climbed to Rs105.70 in the open market on Wednesday.According to sources, the greenback saw a rise in the Inter bank as well and closed at Rs105.51.Banks have been directed not to carry out transactions of dollar at lower than Rs105.50.            
 The government is expected to ratchet up the prices of all petroleum products by a large margin with effect from November 1, sources told Geo News on Wednesday.It is expected that the price of petrol will be increased by Rs 5.35 per litre, High Speed Diesel by Rs 2.43, High Octane Blending Component (HOBC) by Rs 6.10, and kerosene oil by Rs 3.17 per litre.According to sources, Oil and Gas Regulatory Authority (OGRA) is in the process of finalising a summary which will be forwarded tomorrow.            
 The Pakistani rupee on Wednesday slipped to a fresh two-year low of 105.80 against the US dollar in the interbank market, falling 56 paisa from its previous closing. In the open market, the rupee was down 30 paisa from Tuesday's closing, trading at 105.60 against the USD. Due to the rise in the value of the dollar by Rs 1.40 in the last two days, Pakistan's external debt is likely to see an increase of Rs 84 billion, analysts said. The recent climb of the dollar against the rupee has been attributed to a strong demand of the greenback from importers and its outflows from the country. Currency dealers say the growing demand is due to oil-related payments."There were a few import payments in the market and banks were already short of them, and as the rupee crossed the 104.50 level it triggered 'stop', surging the rupee past the 105 figure," Eman Khan from Tresmark, an application that tracks financial markets, told The News on Tuesday. "It's no coincidence that it happened on a day when the Finance minister initiated meeting with the IMF (International Monetary Fund) and also when economic managers are assessing the damage from the deadly earthquake," Khan said. The talks between the IMF officials and the Pakistan's authorities on the ninth review of the extended fund facility program started on Monday in Dubai. Despite strong foreign exchange reserves and narrowing current account deficit, the rupee is constantly losing its value. The rupee depreciated 3.5 percent since the beginning of the current fiscal year.                                   
 Oil prices tumbled in Asia Thursday, cutting short a rally the day before after hints of an interest rate hike in December by the US Federal Reserve boosted the dollar.Prices rose Wednesday after the US Department of Energy said the country�s commercial crude stockpiles had increased less than expected, suggesting stronger demand in the world�s top oil consuming nation.But the rebound was punctured after the Fed on Wednesday signalled it could raise rates before the end of the year, expressing optimism for the world�s top economy after "solid" consumer spending and business investment."With the Federal Reserve holding off on interest rates hikes on Wednesday, the market will keep watch on the December meeting where a rate hike is likely in play," said Sanjeev Gupta, head of the Asia Pacific oil and gas practice at professional services firm EY.At around 0330 GMT, US benchmark West Texas Intermediate for delivery in December was trading 16 cents lower at $45.78 and Brent crude for December was down 21 cents at $48.84.US oil prices jumped more than six percent in Wednesday�s session after news domestic crude supplies rose less than expected in the week ending October 23.The news helped ease some fears over a glut of world supplies that experts warn could last well into next year, which has seen oil prices more than halve from last year�s highs.But the rally was cut short when the US central bank explicitly pointed to the possibility of a rate hike in its next meeting in December, dampening market predictions it could be held off until March.The news pushed the dollar higher -- an interest rate hike is bullish for the dollar as it attracts investors to the currency in the quest for higher returns.But because oil is traded in dollars, a strong US currency will make the commodity more expensive for holders of weaker units, hurting demand and prices."We are still expecting the Fed rate normalisation to be an eventuality and the latest Federal Open Market Committee decision further reaffirms our expectation for the first hike (since 2006) to take place in the 15-16 December 2015 FOMC (meeting)," United Overseas Bank said.            
KARACHI, October 30, 2015 - Advance Telecom will offer iPhone 6s and iPhone 6s Plus beginning on Friday 13th November 2015.According to a press release, the interested customers can avail the offers at 5 Futuretech and 11 Advance Stores across Pakistan. It further said that amazing offers can be availed by booking the devices on futuretech.pk starting 31st October 2015. People can visit the stores and become a part of this launch in Karachi, Lahore & Islamabad.            
 Liquefied Petroleum Gas marketing companies have increased price of LPG by Rs 8 per kg following increase in import duty and its demand.Chairman LPG Distributions Association, Irfan Khokhar said price of domestic cylinder is hiked by Rs 100 and commercial cylinder by Rs 400.Khokhar said the new price of LPG in Karachi would be Rs 85 per kg with domestic cylinder at Rs970. In Lahore and Peshawar the price of LPG had been raised to Rs 90 per kg with domestic cylinder at Rs 1030 while in AJK Rawalpindi and Islamabad of LPG would available at Rs100 per kg with domestic cylinder at Rs 1150.In Northern area, the price has climbed to Rs120 per kg.He demanded of the government to abolish duties and taxes on import of LPG in order to encourage more its import for meeting local demand.                                   
 Asian stocks dipped in early trade Monday, while the dollar retreated against most regional currencies as a weak reading in a Chinese manufacturing index stirred worries about the world�s number two economy.On equity markets, there were losses across the board as Sunday data showed activity in China�s vast manufacturing sector declined in October for the third straight month, triggering worries about the Chinese economy, a crucial driver of global growth.Investors also turned to profit taking after equity markets surged last month, recovering from their worst quarter in four years during July-September, as analysts said fresh cues were needed for markets to rally further.China�s Purchasing Managers� Index (PMI), tracking activity in the factory and workshop sector, was unchanged from the previous month at 49.8, the state statistics office said Sunday.A PMI figure above 50 signals expanding activity while anything below indicates shrinkage."I�m struggling to see catalysts to encourage the market to take this rally to the next level," said Tony Farnham, a strategist at Patersons Securities Ltd."China�s PMI numbers were underwhelming. Manufacturing will probably remain weak as China tries to rebalance its economy away from manufacturing and into services."Tokyo was down 1.87 percent by the lunch break on the weak figures, Hong Kong fell 0.60 percent in early trade and Shanghai dropped 0.38 percent. Sydney lost 1.26 percent as oil halted a three-day climb, while Seoul edged up 0.17 percent after a drop in South Korean exports.On Wall Street Friday, the Dow fell 0.52 percent, the S&P 500 lost 0.48 percent and the Nasdaq dropped 0.40 percent.- Dollar retreats -The dollar remained under selling pressure against emerging currencies and the yen early Monday, after stagnant US economic indicators bolstered the argument against a December rate hike.The US government said Friday its consumer spending rose only by 0.1 percent in the United States in September, less than expected and the slowest rate since January.While the US Federal Reserve said earlier this year it expected to tighten monetary policy before 2016, the summer�s turmoil on global markets and a slowdown in the world economy have forced policymakers to stay their hand."Tokyo has taken over the dollar-selling sentiment from New York," Minori Uchida, head of Tokyo global markets research at Bank of Tokyo-Mitsubishi UFJ, told AFP."It is difficult to buy the dollar now as the recent economic figures are not strong enough to justify a rate hike," Uchida said.Many economists now are tipping a lift-off early in the new year, bolstering emerging market currencies, which had been hammered this year on talk of a 2015 move as investors remove their cash to the United States in search of better, safer returns.In early trade on Monday, the Malaysian ringgit added 0.21 percent against the dollar, while the Indonesian rupiah advanced 0.20 percent, the Singapore dollar rose 0.07 percent, Taiwan�s dollar gained 0.35 percent and the Thai baht was 0.14 percent higher.The greenback bought 120.40 yen from 120.67 yen Friday in New York. The euro was at $1.1032 and 132.83 yen from $1.1003 and 132.77 yen in US trade.                                   
 Oil prices rebounded in Asia Tuesday, buoyed by bargain hunting ahead of the release of US government data that will gauge crude demand in the world�s biggest economy.Analysts expect the data to be released Wednesday by the US Energy Department to show that commercial crude stockpiles rose in the week to October 30 which typically means weaker demand in the world�s top oil consuming nation.Despite occasional rallies, oil remains generally bogged down by a global crude supply glut that has outpaced demand and depressed prices for more than a year."Expectations of more US stockpiles restrained oil bulls," said Bernard Aw, market strategist at IG Markets in Singapore.A global economic slowdown led by China has hammered demand for the commodity and highlighted worries that there may not be enough economic activity to soak up excess supplies as output levels from oil producing nations remain high.China�s official purchasing managers index for the manufacturing sector showed activity shrank in October for the third straight month.Russian oil production broke a post-Soviet record in October, climbing to 10.78 million barrels per day, according to Bloomberg News.At around 0310 GMT Tuesday, US benchmark West Texas Intermediate for delivery in December was up 16 cents at $46.30 and Brent crude for December was trading 11 cents higher at $48.90 a barrel.Prices dipped on Monday after data showed China�s manufacturing output continued to contract and Russian oil production hit a new record high.Current price levels are more than 50 percent lower from their peaks in June 2014 when a barrel of oil was selling at over $100.            
 Oil prices were flat in Asia Wednesday as investors weighed US petroleum industry data showing a build-up in crude stockpiles and news that shipments from a Libyan port were halted due to tensions.US benchmark West Texas Intermediate for delivery in December was down one cent at $47.89 and Brent crude for December was trading two cents higher at $50.56 at around 0315 GMT.The industry-funded American Petroleum Institute said US crude inventories rose by 2.8 million barrels in the week to October 30, according to Bloomberg News.The industry report comes ahead of the release later Wednesday of the official US Energy Department of Energy data on commercial crude stockpiles which is also expected to show an increase.A build in the stockpiles indicates softer demand in the world�s top oil consumer and is negative for prices.Libya�s Petroleum Facilities Guard meanwhile halted crude shipments from Zueitina port indefinitely due to the widening conflict between the strife-torn nation�s rival governments, Bloomberg News said.Tankers seeking to load crude at the port must register with the National Oil Corp. administration loyal to the internationally recognised government in the country�s eastern region, Bloomberg quoted Petroleum Guard spokesman Ali al-Hasy as saying."Supply is still the story," Jonathan Barratt, chief investment officer at Ayers Alliance Securities in Sydney, told Bloomberg."Geopolitical issues will always put a base under prices and there is a solid range for oil."Oil prices have fallen by more than half from peaks of over $100 a barrel in June last year.A global economic slowdown led by top energy guzzler China has led to demand not keeping pace with the crude supply glut which is expected to persist well into next year.                                   
 Pakistan is set to receive the 10th tranche of 550 million dollars from International Monetary Fund (IMF) next month under Extended Fund Facility (EFF) arrangement.Finance Minister, Ishaq Dar made the announcement on Thursday while addressing a press conference along with IMF mission head, Herald Finger here.He said the next installment of loan assistance will be received in the mid of December after the approval from IMF�s administration and Executive Board.Ishaq Dar said Pakistan has achieved all the economic targets while work is in progress towards improving tax collection and keeping the budget deficit under control.He did mention steps aimed to achieve the tax collection target but stopped short of elaborating on them.The Finance Minister also announced that Pakistan will receive 900 million dollars from the World Band and Asian Development Bank in the current month of November.                                   
 The dollar held steady in Asia Thursday after US central bank chief Janet Yellen suggested that a December US interest rate lift-off was still on the table.In congressional testimony, Yellen said that if the world�s top economy was "performing well" and, if conditions warrant, a rate hike in December "would be a live possibility".Yellen�s remarks came ahead of Friday�s release of a key US jobs report for October and as fresh data on the vast US services sector Wednesday supported the view that the economy was on the upswing."Solid US data and Yellen�s comments that seemed to support a rate hike next month sparked dollar buying," Naohiro Nomoto, an economist at Bank of Tokyo- Mitsubishi UFJ, told Bloomberg News."The dollar is being bought gradually, with markets pricing in the rate increase as data come out and yields rise. Fed officials appear to be setting up for the move."Yellen�s comments took a bite out of some Asian currencies Thursday with the Malaysian ringgit, the South Korean won and the Indonesian rupiah among the units falling against the greenback Thursday.But the dollar ticked lower against the yen, edging down to 121.50 yen from 121.55 Wednesday in New York, after trading in New York at its highest level since August on Yellen�s comments. High-yield, riskier emerging currencies have been hit hard this year on fears of a flight of capital back to the United States as dealers look for better, safer investments on the back of the looming US rate lift-off.The greenback has suffered a heavy sell-off against the Asian emerging units in recent weeks, however, as the Federal Reserve stood pat on raising interest rates at its October policy meeting.In other deals, the euro was nearly flat from US trade at $1.0866 and 132.02 yen compared to $1.0865 and 132.06 yen.            
 The oil market rose on Friday but gains were limited by the global supply glut and after the US Federal Reserve hinted at a December interest rate hike.In midday deals in London, Brent North Sea crude for December won 44 cents to stand at $48.42 per barrel.US benchmark West Texas Intermediate for delivery in December rose 26 cents to $45.46 per barrel compared with Thursday�s close. Despite the slender gains, prices are lower compared with the previous week as the market struggles with a crude oversupply and weak demand owing to sluggish global growth led by top energy guzzler China.Increasing talk of an interest rate hike by the US Federal Reserve has also bolstered the dollar, making dollar-priced oil more expensive for weaker currencies, hurting demand and prices.A meeting last month of the policy-setting Federal Open Market Committee (FOMC) hinted that a decision to implement the first rate hike since 2006 could be made during a December meeting.Comments this week by Fed chair Janet Yellen and New York Fed president Bill Dudley considered as "hawkish" by the market have firmed up expectations for the December FOMC meeting "as a live possibility for the first Fed rate hike in nearly a decade," Singapore�s United Overseas Bank said.Markets are watching the US non-farm payrolls data to be released later Friday for further signs about the health of the US economy which could help swing any decision on interest rates, it said.The data is a closely watched gauge of the unemployment situation in the world�s biggest economy and top oil consuming nation.Oil prices have plunged by more than half from peaks of over $100 a barrel in June last year.The International Monetary Fund has projected slower growth for the world economy this year and next.            
 Pakistan has finalised a 15-year, $16 billion liquefied natural gas (LNG) deal with supplier Qatar and shipments are expected to begin next month, Pakistan Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Monday.The amount is 1.5 million tonnes per year, the minister told news agency Reuters on the sidelines of an Asian ministerial energy roundtable in the Qatari capital Doha.The two sides have agreed a price, he said without elaborating."We have finalised the deal. The first shipment is expected in December," he said. "We are hopeful for similar deals in the future.                                   
 Moody�s Investors Service on Wednesday changed the outlook for the Pakistan banking system to stable from negative, reflecting the improvement in the country�s economic growth prospects, driven in turn by the government�s commitment to economic reforms under its IMF program.�We expect the strengthening economy, together with the central bank�s accommodative monetary policy, to stimulate lending growth and support the banking sector�s loan performance over the next 12-18 months," said Elena Panayiotou, a Moody�s Assistant Vice President and lead analyst for Pakistani banks.Moody�s forecasts Pakistan�s real GDP will expand by 4.0 per cent in the fiscal year ending June 2016 (compared to a sluggish 2.8pc during 2008-13), mainly driven by higher spending on infrastructure projects as the government aims to ease energy shortages and execute projects associated with the China-Pakistan Economic Corridor (CPEC).The rating agency noted that the strengthening of the domestic economy will contribute to the improvement in Pakistani banks� asset quality. The level of credit risk, however, will remain high as banks are heavily exposed to the low-rated Pakistan sovereign (B3, stable) through holdings of securities and government-related loans, which were equivalent in size to 7.3x Tier 1 capital, exposing banks to event risk."We expect problem loans will decline to around 12 per cent of total loans by the end of 2016 compared with 12.4pc for the end of June 2015. Banks, however, will remain heavily exposed to the low-rated Pakistan sovereign, linking the banks� creditworthiness to that of the sovereign" Panayiotou said.In the area of capital, the rating agency expected that buffers will come under pressure due to moderate asset growth and lower internal capital generation � a result of weaker profitability.Moody�s expected earnings to ease slightly over the outlook period, mainly because of the lower coupon on government securities in a declining interest rate environment and as the market�s perception of Pakistan�s risk profile eases (upgraded to B3 from Caa1 on June 11, 2015). Higher loan volumes and capital gains booked through the sale of government securities will only partially offset the pressure on profitability.In addition, the rating agency expected that Pakistani banks will maintain ample liquidity and continue to benefit from large volumes of low-cost and stable customer deposits."The Pakistani banks� deposit-based funding structure remains a credit strength. We expect inflows of remittances from migrant workers will continue to drive the growth in bank deposits and support banks� funding bases," said the asst vice-president of Moody's.While banks will use part of their liquid asset to fund lending, Moody�s expected the sector to maintain strong liquidity buffers, with core liquid assets � defined as cash and bank placements � at 12 per cent of total assets and liquid securities, more broadly defined, at 41pc of total assets as of June 2015.                                   
 Oil prices resumed their decline in Asia Wednesday, with global crude oversupply continuing to dampen investors� sentiment despite occasional rallies.Prices had risen the previous day after a four-day losing streak, as traders weighed a bearish price outlook from the International Energy Agency (IEA) and a lowered US estimate for crude production.The oil market has collapsed by more than half since mid-2014 with prices languishing under $50 a barrel, hurt by the supply glut and the decision by the oil exporter grouping OPEC to maintain output to counter booming US shale production.The Paris-based IEA, in a report Tuesday, forecast that the global oil market would recover to $80 a barrel by 2020.At around 0300 GMT Wednesday, US benchmark West Texas Intermediate for delivery in December was trading 47 cents lower at $43.74 and Brent crude for December was down 26 cents at $47.18."We continue to think the market will remain in surplus through most of 2016, which is likely to restrict the upside for prices, particularly over the fourth quarter of 2015 and the first quarter of 2016," British bank Barclays said in a market commentary.A strong dollar, fuelled by widening expectations that the US Federal Reserve will raise interest rates next month, has also been keeping a lid on prices.Oil is traded in the US currency and a buoyant dollar would make the commodity more expensive for those holding weaker units, lowering demand and prices."We expect the greenback to continue to be supported as we approach the likely lift-off in rates," Singapore�s United Overseas Bank said, referring to a December 17 meeting of the Fed�s policy-setting Federal Open Market Committee.            
 The dollar eased against most currencies in Asia early Thursday after surging at the start of the week, while a strong unemployment reading boosted the Australian dollar.The Aussie surged more than one percent against the greenback, as government data showed the country�s October jobless rate fell to a better-than-expected 5.9 percent.Investors moved into high-yield, or riskier, emerging currencies as they await speeches by Federal Reserve chief Janet Yellen and other US central bank policymakers for hints about their plans for US interest rates.With US economic data showing improvement, the Fed is considering hiking rates next month, at the same time as other central banks -- including in Europe and Japan -- are mulling further loosening as growth at home struggles."Divergence in monetary policy is creating an even choppier investment environment," Michael McCarthy, chief market strategist at CMC Markets Plc, told Bloomberg News. "The futures market is indicating that it�s more likely than not that we�ll see the Fed raise rates in December. Expectations of further easing in China are high because there�s been a demonstrated responsiveness among policy makers to the weakening economy."The dollar has given up some of its strength in previous days after last week�s US jobs report boosted expectations Fed policymakers will hike rates for the first time in nine years at their next meeting.This week, a lot of the rate hike speculation has already been priced in, Koji Fukaya, chief executive officer at FPG Securities Co, told Bloomberg News."Emerging and commodities currencies have more scope to react to positive news as they have priced in negative news," Fukaya said."These currencies have been sold off, making some breathing space to recover when there (is) positive news."In Tokyo trade Thursday Indonesian rupiah tacked on 0.2 percent, the South Korean won added 0.1 percent and the Malaysian ringgit was up 0.05 percent. The Taiwan dollar was up 0.2 percent and the Thai baht was also higher.Emerging units have climbed in Asia for the past three days after taking a hammering in response to the US jobs figures.The euro advanced to $1.0764 and 132.34 yen from $1.0741 and 131.94 yen. But the dollar rose to 122.95 yen from 122.84 yen Wednesday in New York.                                   
 Oil prices remained under pressure in Asia Friday after a huge jump in US crude inventories reinforced projections that a supply glut will persist well into next year.US benchmark West Texas Intermediate (WTI) for delivery in December was down 24 cents to $41.51 and Brent crude for December was trading four cents higher at $44.10 a barrel at around 0330 GMT.Prices were hammered Thursday after the US Department of Energy reported that commercial crude inventories in the world�s top oil consumer grew by 4.2 million barrels last week, far higher than analyst expectations of an increase of 1.3 million barrels.WTI sank 2.7 percent and Brent fell 3.8 percent after the report, which also showed US crude oil production continued to ramp higher.Global oil demand growth has not been fast enough to soak up the excess in supplies and analysts say a rebalancing of the supply-demand situation is needed for a sustained uptick in prices.Oil prices have plunged by more than half from peaks of over $100 a barrel in mid-2014."Although global oil demand growth has been exceptionally strong year-to-date, the overall pace of supply side adjustment has been too slow to end a sustained increase in global inventories that we expect to persist through most of 2016," British bank Barclays said.It said in a market commentary that US offshore production in the Gulf of Mexico reached its highest level since early 2010 in August and is expected to remain strong although at a slower pace into 2016 "as several more new fields begin to produce".Members of the Organization of the Petroleum Exporting Countries (OPEC) have also kept production high in an aggressive bid to retain market share.OPEC�s collective production has stabilised at around 31.5 million barrels per day in recent months, Barclays said, but this is still more than its output ceiling of 30 million barrels per day.            
 Turkey has cancelled a multi-billion-dollar deal with China to build its first anti-missile system that had alarmed Ankara�s allies in NATO, a Turkish official said on Sunday."The deal was cancelled," the official from Prime Minister Ahmet Davutoglu�s office told AFP. "One of the main reasons is that we will launch our own national missile project," added the official.The news came as Turkey hosted key Western allies including US President Barack Obama but also Chinese leader Xi Jinping for the summit of G20 top economies in the Mediterranean resort of Antalya.Turkey entered negotiations in 2013 with the China Precision Machinery Import-Export Corporation (CPMIEC) to finalise a contract worth $3.4 billion (3 billion euros).French-Italian consortium Eurosam and US-listed Raytheon Co had also submitted offers but the government had prioritised talks with the Chinese company, which raised serious concerns over the compatibility of CPMIEC�s systems with NATO missile defences.NATO has said missile systems within the alliance must be compatible with each other while calling on Turkey to take this factor into account.Turkish government sources said an official announcement was expected next week. A second Turkish official said the issue of technology transfer was one of the major stumbling blocks in negotiations with the Chinese company."They refused to give what we demanded," the official told AFP, without elaborating. "The talks were blocked at some point."Although the government�s current plans to build Turkish-made missile defence system, it was not immediately clear if Ankara would launch talks with the European and American contenders.Washington was particularly irked by Turkish decision to negotiate with the Chinese company, which has been hit by a series of US sanctions for selling arms and missile technology to Iran and Pakistan.Turkey in the past made confusing comments over its lucrative tender, with a government minister saying the Chinese company was the winner and that its system could be used without integrating with NATO systems.But a spokesman for President Recep Tayyip Erdogan had insisted that the missile system would be harmonious and integrated with NATO defence architecture.                                   
 Asian stock markets tumbled and the euro lost ground early Monday in the first trades after the deadly weekend terror attacks in Paris.The late-night assault on Friday in French capital, which killed 129 people, sparked concerns about security in Europe and its impact on the already struggling eurozone economy.It also sowed fresh uncertainty in already nervous markets, which ended last week on a low owing to increasing worries about the state of the global economy.Losses across Asian stock markets were joined by a fall in the euro, which is already under pressure from expectations the European Central Bank will loosen monetary policy to shore up the eurozone."There is no doubt that the attacks in Paris will contribute to short-term investor nervousness," Shane Oliver, Sydney-based strategist at AMP Capital Investors, said.However, he added that he expected the Paris-linked losses to be brief and pointed out that markets had bounced back from initial selling following past terror attacks."I think history will repeat itself. It will just be a short selloff in response to the Paris attacks," he told Bloomberg News.In early trade Hong Kong was 1.2 percent off, Tokyo fell one percent and Sydney gave up 0.9 percent.Adding to selling pressure in Tokyo Monday was data showing the Japanese economy had slipped into recession for the second time in three years, throwing into question the government�s much-vaunted drive to kickstart growth and inflation.- Shanghai retreats -The Cabinet Office said gross domestic product (GDP) shrank 0.2 percent in July-September, or 0.8 percent on an annualised basis, marking the second straight quarterly decline -- a technical recession.The preliminary figure was worse than the 0.1 percent decline forecast in a Bloomberg News survey and will put pressure on the Bank of Japan to ramp up its bond-buying scheme of monetary easing. The central bank is scheduled to hold a policy meeting this week.The soft results continue to flow despite Prime Minister Shinzo Abe�s big-spending three-year plan -- dubbed "Abenomics" -- to revitalise the torpid economy and end years of debilitating deflation.Taro Saito, director of economic research at NLI Research Institute, told AFP: "Companies are reluctant to invest despite their sound profits." He added that while consumer spending improved "its overall trend still remains weak".In China, authorities doubled the deposit required for investors to borrow funds to trade stocks -- known as margin trading -- as they try to limit a practice that led a massive market bubble and summer rout.The minimum requirement for margin trading was hiked to 100 percent from 50 percent, meaning traders must have the same level of funds in their accounts as the amount they want to borrow.Margin trading was behind a stock market rally that sent the Shanghai index up 150 percent in a year, before it crashed in June.The move comes as Shanghai rebounds from the summer volatility, with the benchmark index now up 22 percent from its August low. However, on Monday it was off 0.6 percent.                                   
 Federal government has released Rs201 billion as this year�s allocation for development projects.According to the Ministry of Planning, Rs27.78 billion has been released to National Highway Authority (NHA) for construction of roads.Higher Education Commission (HEC) gets Rs186.9 million while Rs52.60 billion has been released for rehabilitation of homeless people and their security.Here is the break up for other projects: Water projects Rs5.15 billion; Defence Division Rs1.04 billion; National Health Services Division Rs5.94 billion.            
 Oil prices extended gains in Asia Tuesday but the uptick was capped as investors waited for data on US crude stockpiles expected to further underscore a global supply glut.Prices pushed higher on Monday after US-led coalition jets bombed the Daesh group�s oil operations following the deadly attacks on Paris, but analysts said the impact of geopolitical tensions on the oil market is limited.At around 0300 GMT, US benchmark West Texas Intermediate (WTI) for delivery in December was up six cents to $41.80 and Brent crude for January was trading 11 cents higher at $44.67 a barrel.The gains on WTI "are really an exercise to defend the $40 handle, where we saw a 4.0 percent rebound after prices touched lows of $40.06," said Bernard Aw, market strategist at IG Markets in Singapore."It�s difficult to see more upside potential, although we might be getting closer to the equilibrium price level where we meet the sweet spot in the supply and demand equation," he told AFP.He said investors are also cautious ahead of a US Department of Energy report Wednesday on commercial crude stockpiles in the week ending November 13.Analysts expect another build in the inventories, which would indicate weaker demand in the world�s top oil consuming nation.BMI Research said the geopolitical tensions sparked by the escalation of military action against IS following the Paris attacks is unlikely to be a major influence on oil prices.It pointed out in a commentary that the global market remains oversupplied, crude inventories in developed countries are at record levels and there is no direct threat to Middle East oil facilities and transit points."There is no material threat to the oil-producing facilities and transit routes in the Middle East from the escalation of the French military effort in Syria," it said."Namely, this refers to the oil facilities of Saudi Arabia, the Gulf states, southern Iraq and the Kurdistan Regional Government (KRG), as well as the strategic chokepoints of Suez Canal, Bab el-Mandab and the Straits of Hormuz, all of which remain out of reach of military campaigns."            
 Finance Minister, Ishaq Dar on Wednesday said those who used to call Pakistan �bankrupt� have been shut down for good and vowed to transform the country into world�s 18th best performing economy.�Pakistan�s budget deficit will be further curtailed in the coming three years,� he expressed the resolve while addressing the launching ceremony of Islamic Index here at Karachi Stock Exchange.Earlier, the Finance Minister rang the conventional bell and let the trade begin.Expressing his contentment over the performance of the State Bank of Pakistan (SBP), he identified Islamic banking as a challenge and added that the government was working towards its promotion as well as serving the country at large.Terming the introduction of the Islamic Index as a milestone, Ishaq Dar said the new index will cast a positive impact on the stock exchange.He said investment in Islamic banking will yield positive results for the stock market of the country.Later, talking to media men, Ishaq Dar said the government will extend its all out cooperation to the traders and encourage them to invest in Islamic banking.He said the economic indicators have shown positive growth while the country�s foreign exchange reserves have witnessed a record leap.            
 The global stocks rally faltered on Friday with European equities stumbling as some investors took profits and eyed overnight US losses."We�re seeing some profit taking," said analyst Craig Erlam at traders Oanda."They�ve been on a good run since October and it�s perfectly reasonable that traders will ... lock in some profits," he told AFP.The start of this week was overshadowed by last Friday�s deadly Paris attacks, which raised fears about security in Europe and its effect on the economy.Markets then bounced higher after the US Federal Reserve on Wednesday flagged a likely December interest rate hike amid the brightening economic outlook.Minutes showing Fed policymakers are confident the US economy is strong enough to withstand a December hike had fuelled buying across global markets and sent the dollar climbing.Heading into the weekend on Friday, many investors paused for breath.Asian stocks tacked higher in a choppy session after Wall Street had finished in negative territory on Thursday."Europe had a lacklustre lead from the US and Asia ... and a lack of other positive catalysts leaves traders without the incentive to get back on board," Erlam added.By 1130 GMT, Frankfurt�s DAX 30 stocks index rose 0.1 percent, but the Paris CAC 40 nudged 0.2 percent lower compared with Thursday�s close.Outside the eurozone, London�s benchmark FTSE 100 index added a marginal 0.03 percent in value.In foreign exchange, the euro dipped against the dollar, as traders digested fresh comments from European Central Bank chief Mario Draghi.Draghi, speaking in Frankfurt, declared that the bank will "do what we must" to lift inflation as quickly as possible, in a new sign it could boost its anti-deflation defences.He also warned that inflation was stubbornly way below the target of close to 2 percent even though the bank has deployed a 1.1-trillion-euro ($1.2-trillion) stimulus scheme to help lift consumer prices.The quantitative easing programme to buy sovereign bonds at a rate of 60 billion euros a month runs until at least September 2016, but inflation came in at zero in October."The head of the ECB appears determined to fight the disinflationary environment," noted London Capital Group analyst Brenda Kelly. "A lower euro against both the dollar and the pound has been the result but any upside effects on eurozone (stocks) indices has thus far been elusive."Key figures around 1130 GMTLondon - FTSE 100: UP 0.03 percent at 6,332.10 pointsFrankfurt - DAX 30: UP 0.1 percent at 11,097Paris - CAC 40: DOWN 0.2 percent at 4,904.20EURO STOXX 50: UP 0.2 percent at 3,269.90Tokyo - Nikkei 225: UP 0.1 percent at 19,879.81 (close)Euro/dollar: DOWN to $1.0693 from $1.0735 in late US trade on Thursday.Dollar/yen: DOWN to 122.78 yen from 122.87 yen                                   
  State Bank of Pakistan (SBP) on Saturday announced its monetary policy and decided to keep the policy rate unchanged at 6.0 percent.A statement issued here said that the average Jul-Oct FY16 inflation was at 1.7 percent is lower than the 7.1 percent average inflation in the corresponding period of last year.It said that the decline is broad based as both food and non-food and core inflation measures came down in this period.Going forward with subdued outlook of international oil price and other major commodity prices and in the absence of any shock to supplies of food items even though the average inflation would remain below the FY16 annual target of 6 percent the headline inflation is expected to reverse its declining momentum.Moreover market surveys indicate a marginal increase in inflation expectations for the coming months.The SBP statement further pointed out that the current account deficit despite a year on year 10.6 percent contraction in exports has narrowed down to $ 532 million in Jul-Oct FY16 from $ 1.9billion in Jul-Oct FY15. The improvement largely owes to declining oil price that has substantially reduced the oil import payments healthy workers remittances and the realization of Coalition Support Fund.At the back of official disbursements and Eurobond inflows surplus in capital and financial account has supported the overall balance of payments position thus ensuring an upward trajectory in foreign exchange reserves in Jul Oct FY16. Going forward continued flow of external resources would be required to maintain the stable balance of payments position.Furthermore, realization of investment inflows stemming from the China Pakistan Economic Corridor would indeed strengthen the external sector outlook over the medium to long term.Large Scale Manufacturing (LSM) mainly supported by food and beverages, automobiles, fertilizers and cement production increased to 3.9 percent in Jul Sep 2015 compared to 2.6 percent in the same period of last year.Further boost to this growth is expected from expansion in cotton yarn manufacturing strong construction activities as per planned development spending increased automobile production encouraged by government schemes and improving energy supply at the back of recent LNG imports.Credit to private sector witnessed a nominal increase in July-October 2015 wherein fixed investments continued to expand for the fourth consecutive quarter from Q2 FY15 to Q1 FY16. As a result of easy monetary policy, the weighted average lending rates on fresh and outstanding loans at 7.8 percent and 9.2 percent in September2015 are the lowest in 10 years.Thus, with current credit cycle now entering in uptake phase and with improving LSM growth borrowing on account of both the working capital and fixed investment is likely to increase.This outlook would reflect in broad money (M2) growth going forward which during July 01-November 06, 2015 M2 has expanded by 0.2percent against 0.7 percent during the same period last year.While the Net Domestic Assets declined by Rs 78 billion Net Foreign Assets contribution in M2 growth remained substantial as it increased by Rs106 billion.In view of the foregoing the Central Board of Directors of SBP has decided to keep the policy rate unchanged at 6.0 percent.            
 Oil prices fell in Asia on Monday, extending their slide as a stronger dollar and news that world stockpiles have reached a record high put pressure on futures.Crude dived to two-month lows on Friday after the International Energy Agency, the world�s forecaster, said global commercial stocks had reached three billion barrels.Mounting expectations the US will raise interest rates for the first time in almost a decade next month also drove the dollar higher on Monday, hurting commodities."Record levels of crude oil in storage with no let-up in production are likely to keep prices in a range in the coming weeks," said Sanjeev Gupta, head of EY�s oil and gas practice for Asia-Pacific.At around 0300 GMT, US benchmark West Texas Intermediate (WTI) for January delivery was down 84 cents at $41.06 while Brent crude for January was 51 cents lower at $44.15.World oil prices have more than halved in the past 18 months as global production has outpaced consumption, and the IEA on Friday predicted demand will grow by a sluggish 1.2 million barrels next year.The strengthening greenback, which got a boost over the weekend from bullish comments from a US Federal Reserve member, further hurt oil prices after three weeks of falls.A higher greenback tends to dampen demand for dollar-denominated commodities among holders of weaker currencies.Bernard Aw, market strategist at IG in Singapore, said oil prices are unlikely to stage a comeback any time soon. "Crude oil appears to find some bottom at current levels, although it will find it difficult to break higher as bears are clearly waiting in the folds to knock it lower each time there is a rally," he said.            
 Power tariff is likely to witness a decline of Rs1.81 per unit as a result of fuel adjustment for the month of October.In this connection, a petition will soon be sent to National Electric Power Regulatory Authority (NEPRA) to slash the electricity tariff, said spokesman for Ministry of Water and Power.He said there is a proposal for bringing down the power tariff due to the fuel adjustment for the month of October. The Central Power Purchasing Agency will soon dispatch a petition in this regard to NEPRA.NEPRA will come to decision to the above petition after conducting a hearing.The proposed cut in tariff will be applicable for all other power distributing companies with the exception of K Electric.            
 The government has old wine to offer in a new bottle to appease both the IMF and the traders in its bid to broaden the tax base. The strategy, however, offers no promise to arrest the flow of smuggled goods, one of the key reasons for the undocumented economy. The tax amnesty scheme for whitening black money of traders will be treated as �regularisation of money� as the IMF is opposed to any kind of amnesty. The government sees no other option to bring traders in the tax net, according to a well-placed official. Compared to past amnesty schemes, this measure will be for traders only. Although the government has taken a bold decision of daring traders community, the constituency of the ruling party, the current scheme lacks any strategy for checking the smuggled items that are available at cheap rates but without any invoicing, generating a chain of undocumented income and tax evasion at multiple level.�It is hard to fix all issues at once but we are trying to raise the cost of undocumented business through taxing banking transactions,� said an official privy to the ongoing deliberations when asked about the challenges to economy from the smuggled goods.Instead, the government is more focused on bringing the traders into the tax net by exempting them from tax audit at least for three-year allowing them declare their hidden assets and bank accounts, and in return they will gradually increase their tax payments during the amnesty period.�We have reminded traders that the era of benami transactions is going to be over soon,� said a tax official with reference to the legislation being drafted for tabling in Parliament early next year suggesting heavy penalty for offenders.The government will grant amnesty to the traders having undeclared assets if the declarations are made in the tax return and such return filers continue increasing their tax payment by 25% during the financial years exempted from scrutiny.Unlike the complicated tax return form for the regular taxpayers, one-page tax return is being designed for the traders in English and Urdu both benefiting from this scheme in order to facilitate their entry into the tax net.Another issue regarding the sales tax on the turnover is also being reduced from one percent to 0.25% in order to settle down long-standing dispute between the FBR and the traders. The traders have been objecting turnover on the total cost of product instead of total sale.Among other measures to address their concerns, regional-level committees of traders have been formed for meetings with the regional tax commissioners to discuss ways and means for ironing out differences.Right now, the government is in contact with two groups of traders headed by Khalid Pervez and Naeem Mir, both are Lahore-based.The former is said to be non-cooperative as he tends to politicise the entire issues even the tax notices that he received months ago alleging him of mis-declaration of bank accounts and assets.In tax year 2013, he declared a book shop in Urdu Bazara as his only business in addition to foreign remittances of four millions rupees and property income of three millions and paid tax Rs49,992, according to an FBR official. This was in contrast with the six undeclared bank accounts and plots as well as eight vehicles spotted by the FBR forming basis of issuing him a notice.Naeem Mir, on the other hand, has been cooperative and urging the government to launch an awareness campaign in order to counter the false propaganda, address their legitimate concerns in addition to educating traders about the benefits of being in the tax net.                                   
 Oil prices fell in Asia Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey�s shooting down of a Russian fighter jet on the Syrian border.Prices had surged Tuesday following the incident which analysts warned could further heighten tensions among key powers involved in the Syrian conflict and affect crude supplies from the oil-producing Middle East.The rally was cut short amid a flurry of diplomatic effort to appease a furious Russian President Vladimir Putin who called the shooting a "stab in the back" by "accomplices of terrorists".UN Secretary-General Ban Ki-moon called for urgent measures to cool down the heat, saying a "credible and thorough review" of the incident would help clarify what happened and prevent a repeat.The Russian SU-24 attack plane was shot down earlier Tuesday by two Turkish F-16s after it received 10 warnings within a five-minute period, Turkey�s envoy to the United Nations said, but Moscow insisted the aircraft was inside Syrian territory.At around 0215 GMT, US benchmark West Texas Intermediate for delivery in January was down 11 cents to $42.76 and Brent crude for January was trading seven cents lower at $46.05. Both contracts jumped by more than $1 after the shooting."Crude prices were bid up on fresh concerns over the Middle East tensions after Turkey shot down a Russian aircraft," said Bernard Aw, market strategist at IG Markets in Singapore."However, it is unlikely that the tensions will escalate given the trade importance between the two countries, which means we should see a diplomatic solution," he told AFP.He said traders are setting their sights on a meeting on December 4 of the Organization of the Petroleum Exporting Countries for signs on whether the cartel will slash high production levels which have depressed prices in an oversupplied market."An agreement to cut the production target will definitely be a booster for oil prices," Aw said.Attention will also be on a report by the US Department of Energy later Wednesday on last week�s commercial crude stockpiles that will gauge demand in the world�s top oil consumer.            
 The total foreign exchange reserves of the country have climbed to 19.828 billion dollars, said the State Bank of Pakistan (SBP) on Thursday.SBP�s weekly statement said the foreign reserves held by State Bank on November 20 amounted 14. 6766 billion dollars and the net foreign reserves with other banks figured 5.151.6 billion.During the week SBP�s liquid foreign reserves increased by 88 million to 14.677 billion compared to 14.589 billion in the previous week.            
 Volta Batteries has started an initiative to check the car batteries of the consumers free of cost. Volta has chosen the renowned petrol stations in the cities of Islamabad, Rawalpindi and Peshawar. The aim of the program is to help end consumers know about the health and general maintenance of their car batteries. The free battery checkup activity has been well received by the general public and in just initial two days, around 500 cars a day were inspected by Volta professionals.It is a two-month activity where trained professional from Volta inspect the battery water levels and overall condition of the batteries. Also, those who brought their cars for the checking received special gifts from Volta. What should be appreciated is that Volta is not only entertaining consumers that only have their batteries installed, but also those who are using batteries from other manufacturers. Volta is currently providing 10 MONTHS FREE REPLACEMENT GUARANTEE on car batteries.Volta officials told us that buyers usually forget to maintain their batteries soon after the purchase. And that can lead to premature failure of the batteries. This activity was initiated to make people realize that with proper maintenance, they can achieve the maximum from their batteries. A properly maintained battery won�t only save you money in longer run, but will also prevent any unpleasant vehicle breakdown that could have been prevented in the first place.Volta produces all sorts of batteries and cater all types of vehicles; private, public or industrial. Volta produces not only regular car batteries but also maintenance free batteries for various applications. Volta is not available for the general public but is also being used by different governmental departments, including Pakistan Army.            
 Pakistan is set to invite global online payment giants PayPal and Alibaba to offer their services in the country, the IT ministry has said, after easing its e-commerce rules.The move follows a decision by the global Financial Action Task Force to remove Pakistan from its list of high-risk and non-cooperative jurisdictions linked to money laundering.Neither US-based PayPal nor Chinese e-commerce giant Alibaba (which operates a service called Alipay) currently work inside Pakistan, which had strict regulation until recently limiting online payments for services.Local vendors instead offer cash-on-delivery options.Pakistan's junior minister for information technology Anusha Rahman said in a Monday statement that following the central bank's decision to announce new rules for e-commerce, the government would "solicit mechanism to coordinate with international e-commerce players such as PayPal, AliBaba etc encouraging them to establish their setup to enable e-commerce services in Pakistan."Pakistan has a growing IT industry that mainly provides outsourcing services in the form of coding to major Western clients.IT exports, which account for around 10 percent of total service exports, are currently worth $2.2 billion annually, with the government aiming to increase the figure to more than $5 billion by 2017.The country of about 200 million people launched high-speed mobile internet services last year, with the subscriber base now totaling around 18 million. There are also around 21 million broadband Internet subscribers, according to official figures.                                   
 The government has decided to enhance regulatory duty on more than 313, what it called, luxury items within the next 72 hours in order to generate around Rs40 billion in line with the IMF�s commitment for avoiding revenue shortfall in achieving the desired tax target of Rs3,104 billion.Top economic managers disclosed to The News on Wednesday night that the government dropped the idea to promulgate a presidential ordinance or then getting approval from parliament for legislation to amend the income tax or sales tax laws keeping in view expected stiff resistance from the opposition parties, especially in the Senate.�We have decided to rely upon increasing regulatory duty on luxury items in order to bridge the gap of Rs40 billion revenue shortfall in the coming seven months (Dec to June) period,� said the official.The items under consideration on which the duty may be enhance included packed or imported yogurt, butter, dairy spreads, cheese, natural honey, pineapples, guavas, mangoes, orange, lemons, apples, cherries, peaches, strawberries, pomegranates, lichis, dried fruits, chewing gum, cocoa powder, macaroni, vermicelli, pasta, corn flakes, sweet biscuits, waffles and wafers, rusks, cucumbers, pickles, tomatoes, tomatoes paste, potatoes and other vegetables, soya sauce, tomato ketchup and other tomato sauces, ice cream, syrups and squashes, mineral waters, dog or cat food, perfumes, lip makeup, eye makeup, nail polish, face powder, talcum powder, face and skin creams, lotions, shampoos, hair dyes, tooth paste, deodorants, soap in other forms, marble, granite and other stone, waste and scrap of tinned iron or steel, semi-finished products of iron or non- alloy steel, bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel.            
 Oil prices held above $43 a barrel in Asia Thursday after US commercial crude supplies rose at a slower pace while jitters over the shooting down by Turkey of a Russian warplane lingered.Data from the US Department of Energy released Wednesday showed the country�s commercial crude supplies rose by 1.0 million barrels for the week ending November 20.The increase for a ninth straight week kept supplies more than 100 million barrels above the five-year seasonal average and further confirmed the supply glut that has depressed prices for over a year.However, analysts noted that the increase was not as much as in previous rises and could be positive for prices in the longer term.The inventories data was followed by a report from oil field services firm Baker Hughes showing US oil drilling rigs in operation fell by nine to 555, indicating an ease in activities."US crude oil inventories are not increasing as much as before, so this is giving the market some bullish sentiment," said Daniel Ang, an investment analyst with Phillip Futures in Singapore.At around 0115 GMT, US benchmark West Texas Intermediate for delivery in January was up eight cents at $43.12 and Brent crude for January was trading seven cents higher at $46.24.Ang said a report that durable goods orders in the United States, a barometer of the health of the world�s biggest economy, came in better than expected was also helping to perk up sentiment.Prices rose after Turkey downed a Russian warplane on the Syrian border on Tuesday, due to fears that any escalation of the conflict would affect crude supplies."There are still tensions going on and they are giving a bullish push to prices," Ang said. "Tensions are still playing a part in the whole oil landscape."Russia on Wednesday accused Turkey of a "planned provocation" and a rescued pilot of the targeted jet said that no warning had been given.            
 World oil prices rose this week on concerns that heightened geopolitical tensions could disrupt Middle East supplies despite a market awash with crude.Traders were turning their attention to next week�s OPEC output meeting to see if the oil producers� cartel will slash high output levels.The 12-nation OPEC, which counts the world�s biggest oil producer Saudi Arabia among its members as well as Nigeria, Venezuela and Iran, holds a regular meeting in Vienna on December 4.Most analysts expect the cartel to stick to its decision taken at the last meeting in June, when OPEC defied calls to cut output despite sliding oil prices, so extending its strategy of preserving market share and fending off competition from the US shale energy boom.Keeping the status quo would see the Organization of Petroleum Exporting Countries� official production target left at 30 million barrels per day -- where it has stood for four years -- following pressure from cartel kingpin Saudi Arabia on the other members."We continue to believe that there will not be any change in Saudi or OPEC policy" in Vienna, noted Societe Generale analyst Michael Wittner."Oil market oversupply will continue through next year, due to resilient US production -- even if it is declining -- high OPEC output led by Saudi Arabia and Iraq and the gradual return of Iran starting in" 2016, he added.OPEC member Iran last week said it would not negotiate with the cartel over a planned half million barrels per day oil production hike once sanctions are lifted.Despite a supply glut that has caused crude prices to more than halve over the past 18 months -- due primarily to high output from US shale rock but also owing to weaker Chinese demand -- Iran has consistently said it plans to up its output when nuclear-related sanctions are lifted under a deal agreed in July with world powers.Downward pressure on the oil market this week was meanwhile capped by the shooting down by Turkey of a Russian fighter jet on the Syrian border.But reports that Russia is not taking military action against Turkey in retaliation eased fears that the tense situation in the region could escalate and disrupt Middle East oil supplies.Moscow said retaliatory measures would focus on using its leverage to tighten the screws on Turkey�s economy, including halting joint economic projects.Next week will see traders monitoring also the meeting of the Federal Reserve, when policymakers are expected to lift US interest rates for the first time in almost a decade. A hike would likely boost the dollar, making oil priced in the US unit more expensive for holders of weaker currencies.By late Friday in London, Brent North Sea crude for delivery in January edged higher to $44.93 a barrel from $44.66 a barrel one week earlier.US benchmark West Texas Intermediate for January stood at $42.02 a barrel compared with $40.39 for the expired December contract one week earlier.            
 Pakistan must raise an extra $379 million (about Rs40 billion) through new tax measures, the finance minister said on Monday, as the government seeks to qualify for its latest IMF loan tranche.Earlier this month, the IMF approved the release in December of a $502 million tranche of Pakistan�s three-year $6.68 billion programme, even though the government missed targets for tax revenue generation, net domestic assets and the budget deficit.The government will levy an additional 5 to 10 percentage points of tax on 350 items and raise customs duty by 1 percentage point, Finance Minister Ishaq Dar said at a press conference in the federal capital.The full list of items was not immediately available.The increased levies would target "non-essential luxury items" only, and exemptions on the customs duty have been offered for 25 key industrial sectors, Dar said on Monday."We have kept in mind not to increase duties that would make items more expensive for the common man," he said.Separate increased taxes were also announced on imported automobiles - both new and used - and domestically-produced cigarettes.In its last review, the International Monetary Fund had warned that the release of December�s approved $502 million tranche depended on the announcement of new measures to generate an extra 40 billion Pakistan rupees ($380 million) in revenue. "This was a deadline in a sense, and if the government didn�t do it the next tranche of the programme would at least be delayed, if not suspended," Khurram Husain, an economic analyst and journalist, told Reuters.It was unclear if the new measures would meet the target.Dar had earlier told a parliamentary standing committee that the increased duties were meant to restrict Pakistan�s import bill, not increase revenue.Husain said if the measures did not raise enough funds, the government would have to raise taxes on staples such as electricity and petrol.                                   
 Oil prices traded below $42 in Asia Monday ahead of an OPEC meeting and the release of data on China�s important manufacturing sector later in the week.The market will be watching whether members of the Organization of the Petroleum Exporting Countries, which meets on December 4, slash currently high output levels and ease a crude supply glut that has depressed prices for more than a year.Analysts said traders will also tune in to two key speeches by US Federal Reserve chair Janet Yellen this week for signs on the timing of a hike in US interest rates.November data on China�s industrial sector is released on Tuesday, with traders looking for clues on the health of the world�s top energy consumer.At around 0230 GMT, US benchmark West Texas Intermediate for delivery in January was up 10 cents to $41.81 and Brent crude for January was trading five cents lower at $44.81 a barrel."We expect the focus to return to the timing of the US interest rate rise, with two key speeches by Fed Chair, Janet Yellen, on Wednesday and Thursday," Capital Economics said in a market commentary.Analysts expect Fed policymakers to raise interest rates during their December meeting, a move that will boost the dollar and make dollar-priced oil more expensive, denting demand and prices.OPEC�s Friday meeting is expected to focus on the global crude oversupply, the return of Iranian oil to the market after the lifting of western economic sanctions and whether the cartel will cut production to boost prices."However, comments from key OPEC ministers still seem relatively sanguine. Also, it is not clear that even if OPEC did cut its production target, actual output would fall, given the cartel is already producing well above its current target," Capital Economics said.Sanjeev Gupta, head of the Asia Pacific oil and gas practice at professional services firm EY, said the OPEC meeting would "draw attention on supply and demand in the next year".                                   
 Oil prices rose in Asia Tuesday, three days before an OPEC meeting in which the cartel is expected to maintain high output levels despite a global supply glut.Analysts say the Organization of the Petroleum Exporting Countries is likely to focus more on maintaining market share against competitors than on slashing production in order to lift prices.US benchmark West Texas Intermediate for delivery in January was up 29 cents to $41.94 and Brent crude for January was trading 18 cents higher at 44.79 a barrel at around 0300 GMT."Crude oil remained on the soft side as many expect OPEC to be unwaving about its production target when the group gathers this Friday," said Bernard Aw, market strategist at IG Markets in Singapore."Crude prices are likely to stay sideways ahead of the OPEC meeting, where Iran is expected to announce plans to expand output."Iran is expected to increase its oil exports after crippling western sanctions are lifted under a landmark deal reached with major world powers in July to curb its nuclear programme.The sanctions have restricted Iranian oil shipments and analysts say their return to the market will further add to the crude oversupply.Iran�s deputy foreign minister Abbas Araghchi said last week his country expects the deal to come into force in early January, when Tehran will have implemented its commitments.Oil prices have been in retreat from levels above $100 a barrel reached in mid-2014, with the decline accelerating after OPEC�s November 2014 meeting signalled the group would keep output high.A key measure of China�s manufacturing activity dropped to its weakest level in more than three years in November, data released Tuesday showed, further underlining weaknesses in the world�s top energy consumer.The official Purchasing Managers Index (PMI), which tracks activity in the crucial factories and workshops sector, fell to 49.6, the government statistics bureau said. It was the fourth consecutive month of decline and the lowest figure since August 2012.            
 Asian markets saw fresh volatility Wednesday, with Shanghai seeing sharp swings, as weak factory activity data highlighted weakness in the global economy but fuelled hopes central banks will stick to a loose monetary policy.The euro also held its own after rallying in New York as a surprisingly positive set of eurozone figures raised the possibility the European Central Bank will delay an expected stimulus boost.Official figures showing a gauge of Chinese manufacturing activity hit a three-year low in November was followed later in the day by news that US factory work contracted at the fastest pace since June 2009.While the US economy, the world�s biggest, has shown strong signs it is well on track to recovery, traders remain nervous about the future, with commodity prices at multi-year lows and the dollar soaring, hitting exports."Traditionally, the manufacturing sector has been the canary in the coal mine when it comes to slowing growth. To what extent does this bleed over into other sectors of the economy -- that�s yet to be seen," Brett Ryan, a US economist at Deutsche Bank Securities in New York, told Bloomberg News.All three main indexes on Wall Street ended higher as investors bet that an expected increase in interest rates will be slow and gradual.In Asia, markets shifted in and out of positive territory. Shanghai was 0.1 percent lower after surging more than one percent at one point.- Eurozone boost -The benchmark index rose Monday and Tuesday, having plunged 5.5 percent at the end of last week on news that several top brokerages were being investigated as part of a crackdown after the summer�s market rout.However, the International Monetary Fund�s decision to include the yuan in its special drawing rights basket of elite currencies has provided some buying support.On currency markets talk of a slow rise in US rates weighed on the dollar, which retreated in New York to $1.0634 from $1.0566 and to 122.86 yen from 123.09 yen.The euro was also given support by data showing factory growth in the eurozone picked up the pace last month while unemployment tumbled, fuelling hopes the bloc is slowly recovering.The EU�s Eurostat agency said unemployment in the 19-country region fell to 10.7 percent in October, the best reading since January 2012. In Germany the rate sank to its lowest level since the country�s reunification in 1990.Dealers are awaiting a European Central Bank policy meeting this week to see if it ramps up its stimulus programme or, in light of the latest report, stands pat until the new year.Sydney stocks slipped despite a slight pick-up in the Australian economy in the July-September quarter, which Treasurer Scott Morrison said showed progress in shifting from a resources-fuelled boom to broader-based growth.- Key figures around 0300 GMT -Tokyo - Nikkei 225: down 0.1 percent at 20,002.12 (break)Shanghai - composite: DOWN 0.1 percent 3,452.12Hong Kong - Hang Seng: UP 0.2 percent at 22,427.61Euro/dollar: DOWN to $1.0620 from $1.0634 late TuesdayDollar/yen: UP to 122.95 yen from 122.86 yenNew York - Dow: UP 1.0 percent at 17,888.35 (close)London - FTSE 100: UP 0.6 percent at 6,395.65 (close)                                   
 The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices, its president and Nigerian oil minister Emmanuel Ibe Kachikwu said following a meeting here Friday.OPEC, whose members together pump out more than one third of world oil, is currently producing above its official target of 30 million barrels per day."Given the present position of the economy of countries that are purchasing (oil) and the worldwide economy, we will retain production at current levels," said Kachikwu, who is minister of state for petroleum resources in Nigeria.OPEC is currently pumping out around 32 million barrels of oil per day.The cartel on Friday published no figures on output in its communique, as it awaits increased output from Iran after sanctions were lifted on the Islamic republic."We cannot put a number now because Iran is coming, we don�t know when Iran will come, and we will have to accommodate Iran one way or the other," said OPEC Secretary General Abdullah el-Badri."We decided to postpone this decision to the next OPEC meeting (in June) until the picture will be more clearer for us to decide on a number," he added.Despite oil prices plunging by more than 60 percent in 18 months, OPEC kingpin Saudi Arabia and the cartel�s other Gulf state members are defying calls to reduce output -- in a year-long strategy of attempting to preserve market share and fend off competition from non-OPEC and world leading producers Russia and the United States.Saudi Arabia on Friday repeated the kingdom�s stance that it would be willing to cut as long as non-OPEC also reduces its output."We have said on more than one occasion that we are willing to cooperate with anyone that will help balance the market... with us," Saudi oil minister Ali al-Naimi told reporters gathered at OPEC headquarters in Vienna.OPEC�s poorer nations -- notably Venezuela, Ecuador and Algeria -- had led the calls for a cut to help boost prices and in turn their badly-hit revenues."Everyone is concerned about... the prices, no one is happy," said Iraq�s oil minister Adil Abd Al-Mahdi.OPEC on Friday confirmed that Indonesia had returned to the cartel after a near seven-year absence, bringing the number of member countries to 13.            
 World stock markets churned lower Friday on lingering disappointment over "underwhelming" eurozone stimulus measures and ahead of key US jobs data.Equities had plunged Thursday as the European Central Bank�s latest stimulus plan disappointed investors, sparking a global sell off that spilled over into Wall Street and Asia.In late Friday morning deals, London lost another 0.2 percent, Frankfurt fell 0.6 percent and Paris also slid 0.6 percent, one day after the key indices shed between two and four percent in value.Speculation had swirled for weeks that the ECB would ramp up its bond-buying programme and loosen monetary policy to bolster growth and counter weak inflation.Hopes were stoked Wednesday by news that eurozone inflation languished at 0.1 percent in November -- far lower than the ECB�s official 2.0-percent target.The bank on Thursday cut deposit rates further into negative territory -- meaning lenders must pay to park cash with it and so look to loan more -- and extended the length of its bond purchases.- Huge let-down -However, the long-awaited announcement was seen as a huge let-down as it crucially failed to increase the size of the stimulus while the rate cut was less than hoped for."Equity markets took a notable shake out yesterday in response to the underwhelming actions of the ECB," said TrustNet Direct analyst Tony Cross."The central bank�s stimulus measures fell some way short of expectations, initiating degree of panic across the board."This rattled US markets after the European close last night and is once again taking a toll in early trade as the week�s final session gets underway."The news sent the euro surging on Thursday to a one-month peak at $1.0981, having earlier hit a 7.5-month low of $1.0524 in highly volatile deals."Draghi failed to deliver on investors� expectations," said ETX Capital analyst Daniel Sugarman."In November the ECB governor had stated that the ECB would �do what we must to raise inflation as quickly as possible� -- which investors took to mean the unveiling of a significant surge in monetary stimulus in December."The single currency had come under fierce selling pressure leading up to the announcement as dealers positioned themselves for more far-reaching measures.- Fed caution -The euro�s gains were also given support after Federal Reserve boss Janet Yellen said the bank remained wary of a US interest rate rise because of concerns about a strong dollar and other central banks� loose monetary policies.While the Fed is still widely expected to lift rates this month -- for the first time in nine years -- Yellen�s comments caused traders to baulk after a recent run-up in the dollar. Dealers are now awaiting the release of key US jobs data later in the day, although analysts say the report would need to be monstrously bad to prevent a Fed rate rise in December.Asian stocks finished in the red, with Tokyo down 2.2 percent, Shanghai shedding 1.7 percent and Sydney 1.5 percent lower.Oil prices rose Friday amid OPEC�s policy meeting in Vienna, where the cartel appears on course to maintain crude production levels despite a recent plunge to underneath $40 per barrel.- Key figures around 1130 GMT -London - FTSE 100: DOWN 0.2 percent at 6,263 pointsFrankfurt - DAX 30: DOWN 0.6 percent at 10,728Paris - CAC 40: DOWN 0.6 percent at 4,702 EURO STOXX 50: DOWN 0.4 percent at 3,149Tokyo - Nikkei 225: DOWN 2.2 percent at 19,504.48 (close)New York - Dow: DOWN 1.4 percent at 17,477.67 (close)Euro/dollar: DOWN to $1.0876 from $1.0947 in late US trade on ThursdayDollar/yen: UP to 122.80 yen from 122.61 yen            
 Home World, a Pakistan based company, has signed a contract with ICS New Zealand for distribution of Kiwi Mobiles - a well reputed brand of New Zealand for Asia and United Arab Emirates (UAE).The ceremony was held in Karachi, Pakistan, in which both the parties announced their aim to establish quality and latest technology driven products to cater to the present day market.The agreement was inked by Chairman ICS Mr. Richard Prebble and CEO Home World (Right) Asif Rajar.Soft launch dates will be announced in Pakistan soon.            
 Finance Minister, Ishaq Dar on Monday said the government is ready to set up a parliamentary committee over the ordinance issued a day earlier for conversion of Pakistan International Airlines (PIA) into a limited company.Issuing a policy statement from the floor of National Assembly, the Finance Minister said prior to reaching any conclusion the opposition should first go through the ordinance.Defending the issuance of the ordinance, he said the government adhered to all the legal requirements in promulgating this ordinance.�We are restructuring PIA and the purpose of the ordinance is to make it a corporate entity,� he argued, adding that implementation of the ordinance will not lead to any kind of change in the rights and privileges of the PIA employees. He said if the opposition has objections over the ordinance, it can go ahead and present a resolution for its rejection in the lower house. He said the matter will be discussed with the opposition leader in the National Assembly and thereupon the speaker may constitute a committee to look into the issue.Defending the government�s decision to impose additional taxes, Ishaq Dar said there was a tax shortfall of Rs40 billion. He said taxes have either been imposed or raised only items that fall in the category of luxury goods.He said 58 percent of the proceeds from additional taxes will go to the provinces� kitty while the federation will only receive its one third.            
 Oil stayed below $40 a barrel in Asia Monday after the OPEC cartel decided against slashing high output levels and traders turned their focus to a US central bank meeting next week.<br/><br/>US benchmark West Texas Intermediate for delivery in January was down 37 cents at $39.60 and Brent crude for January was trading 12 cents lower at $42.88 a barrel at around 0210 GMT.<br/><br/>At a meeting in Vienna on Friday, the Organization of the Petroleum Exporting Countries decided against cutting its oil output to lift prices, its president and Nigerian oil minister Emmanuel Ibe Kachikwu said.<br/><br/>OPEC, whose members together pump out more than one third of world oil, is currently producing above its official target of 30 million barrels per day despite a global crude supply glut that has battered prices for more than a year.<br/><br/>"Crude oil were no doubt compressed by the lack of an agreement at the OPEC, signalling that the supply glut will persist longer," Bernard Aw, market strategist at IG Markets in Singapore.<br/><br/>"WTI is trading below the key $40 (mark) and it looks set to remain there."<br/><br/>Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at professional services firm EY, said market attention is now turned to a meeting of Federal Reserve policymakers and to the latest economic data from China, the world�s top energy consumer.<br/><br/>Traders are watching whether the Fed will raise interest rates, a move that will boost the dollar. A stronger US currency will make dollar-priced oil more expensive to holders of weaker units, denting demand and prices.<br/><br/>"While all eyes are now on the Federal Reserve as it meets next week for the last policy meeting this year to decide whether to raise its benchmark rate, economic data from China will set the tone of prices in the coming weeks," Gupta said.<br/><br/>He said the dollar also got a boost from a strong US jobs report on Friday. The report strengthens the case for a Fed rate hike, analysts said.
 K Electric has announced a reduction of Rs2.08 in powe tariff which will be applicable in electricity bills for the month of December.�According to the spokesman of K Electric, the power tariff cut has been made as a result of fuel surcharge adjustment for the months of August and September.�Earlier, National Electric Power Regulatory Authority (NEPRA) had also announced a decrease in electricity tariff which was applicable for all power distributors of the country with the exception of K Electric.
 Oil prices struggled at seven-year lows Tuesday, sending Asian energy firms plunging in line with their US and European counterparts after OPEC�s decision to maintain output dimmed hopes for a recovery in the black gold.<br/><br/>Another tumble in Chinese imports and exports exacerbated the panic on regional markets, reinforcing worries about the state of the world economy at the same time as Washington considers hiking US interest rates.<br/><br/>A global supply glut, weak demand and the growth slowdown in China have combined with soaring production over the past year to send crude slumping more than 60 percent over the past 18 months.<br/><br/>Investors had been hoping that with the market becoming increasingly tight, the Organization of the Petroleum Exporting Countries could find a way to ease output and release some pressure on prices.<br/><br/>However, the cartel�s six-monthly meeting Friday ended without any agreement between bickering members to make any cuts, which in turn battered global markets.<br/><br/>On Monday, US benchmark West Texas Intermediate crude sank 5.8 percent and Brent shed 5.3 percent -- hitting levels not seen since February 2009. WTI tumbled 2.7 percent and Brent lost 1.9 percent Friday.<br/><br/>US giant ExxonMobil, France�s Total and Italy�s Eni all fell between two and three percent, with many smaller producers and oil-services companies suffering even bigger drops.<br/><br/>And Asian firms continued those losses as crude failed to recover. Hong Kong-listed Chinese giant CNOOC was down more than three percent, while PetroChina was off 1.4 percent in Shanghai.<br/><br/>- Weak demand -<br/><br/>Mining giant BHP Billiton dived almost five percent in Sydney, while Rio Tinto was off 3.5 percent. Woodside lost 3.5 percent and Oil Search plunged 15.8 percent after Woodside dropped a multi-billion-dollar bid for the latter without an explanation.<br/><br/>Japan�s Inpex was off 5.4 percent while JX Holdings lost 3.2 percent.<br/>"Market focus at the moment is the potential deflationary effects of lower oil prices, and the signalling that aggregate demand is weak," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told Bloomberg News.<br/><br/>Commodity-linked currencies took a hit from the falls, with Malaysia�s ringgit down one percent and the Australian dollar losing 0.1 percent.<br/><br/>In China, investors were hit by another round of weak trade data indicating the world�s number two economy and key driver of global growth is heading for its worst year in a quarter of a century. <br/><br/>"Given the weak global growth and falling commodity prices, China�s trade outlook remains challenging," Larry Hu, Head of China Economics at Macquarie Securities in Hong Kong, wrote in a report ahead of the figures.<br/><br/>The plunge in oil prices and news from China overshadowed data out of Tokyo showing Japan�s economy grew slightly in July-September, meaning it averted a recession, as was initially thought from provisional results last month.<br/><br/>However, Hideo Kumano, chief economist at Dai-ichi Life Research Institute, said: "While severe pessimism is receding, consumption -- a key driver for the economy -- is still weak. Without more spending and higher wages, the engine of the economy won�t be ignited."<br/><br/>- Key figures around 0300 GMT -<br/><br/>Tokyo - Nikkei 225: DOWN 1.0 percent at 19,494.98 (break)<br/>Hong Kong - Hang Seng: DOWN 1.6 percent at 21,841.86<br/>Shanghai - composite: DOWN 1.5 percent at 3,482.30<br/>Euro/dollar: UP to $1.0849 from $1.0835 late Monday<br/>Dollar/yen: DOWN to 123.16 yen from 123.36 yen<br/>New York - Dow: DOWN 0.7 percent at 17,730.51 (close)<br/>London - FTSE 100: DOWN 0.2 percent at 6,223.52 points (close)
 Symmetry Digital and Iris Digital, full service digital media agencies of Symmetry Group have created history yet again by winning the coveted Gold and Bronze in 2015 respectively.�According to a press release, this is the 4th consecutive win for the Group agencies at the Campaign South Asia�s Agency of the Year Awards.�Consecutive wins by Symmetry Digital and Iris Digital in the Campaign South Asia Awards over the last four years is a result of dedication of its leadership to strive for innovation, the efforts of its employees who are always moving forward with a new sense of achievement, and the work culture of Symmetry Group which promotes creativity and growth in all its departments.�Speaking on the significance of the fourth win, Adil Ahmed - Director, Symmetry Group said: �Winning the Digital Agency of the Year Award for Pakistan, reflects how much we have evolved in terms of challenging boundaries and setting new standards for digital business as it is essential for us to create the right solutions as desired by our clients. Our strength is in our belief, believe to achieve things. And to achieve things we need to deliver. And this award is the biggest witness to what we have delivered.��While commenting on the win, Mr. Sarocsh Ahmed - CEO, Symmetry Group said: �Winning these prestigious awards for 4th year in a row is an exemplary achievement. It shows how aligned our service offerings are with the global trends &amp; standards. Our way forward should be to work hard towards offering creative &amp; innovative solutions to our Clients for enhancing the digital experience for their consumers.�
 A modest recovery in oil prices provided some respite for Asian energy firms Wednesday but stock markets extended losses as China�s ongoing economic woes cast a pall over the region�s trading floors.The cost of the black gold has plunged by almost a tenth since Friday�s refusal by the OPEC oil exporters� group to agree a ceiling on output despite oversupply and anaemic demand across the globe.The impact of the weak commodity price environment was also made stark Tuesday when US mining giant Anglo American said it would scythe almost two-thirds of its workforce and reduce investment by about $1 billion.On Wednesday US benchmark West Texas Intermediate was up 1.7 percent in the morning while Brent added 1.2 percent.Among regional energy firms BHP Billiton added almost one percent in Sydney, Inpex gained 1.3 percent in Tokyo and Hong Kong-listed CNOOC put on 1.7 percent.However, the oil contracts are still struggling around seven-year lows and analysts said the gloom was likely to last for some time."We remain of the view that oil will stay below $50 a barrel into the foreseeable future," Evan Lucas, a markets strategist in Melbourne at IG Ltd., told clients according to Bloomberg News."The industrial metals and iron-ore thematics are basically facing the same factors that are influencing oil."A global supply glut, weak demand and the growth slowdown in China have combined with soaring production to send crude slumping more than 60 percent over the past 18 months.Most Asian markets extended their losses of this week, tracking a downturn on Wall Street where all three main indexes ended in the red.Tokyo was 1.1 percent off by lunch, Hong Kong lost 0.6 percent and Sydney fell 0.3 percent while Taipei, Singapore and Kuala Lumpur were also in negative territory.Shanghai was 0.2 percent down as ongoing worries about China overshadowed data showing November inflation was just above expectations.Consumer prices rose 1.5 percent last month, up from October and better than the forecast in a survey by Bloomberg News but well short of Beijing�s target rate of "around three percent".But the November reading remained well below China�s annual target of an increase of "around three percent" announced in March.- Key figures around 0300 GMT -Tokyo - Nikkei 225: DOWN 1.1 percent at 19,281.46 (break)Hong Kong - Hang Seng: DOWN 0.5 percent at 21803.28Euro/dollar: UP to $1.0912 from $1.0892 late TuesdayDollar/yen: DOWN to 122.78 yen from 122.97 yenNew York - Dow: DOWN 0.9 percent at 17,568.00 (close)London - FTSE 100: DOWN 1.4 percent at 6,135.22 points (close)
 Oil prices edged up in Asia Thursday following signs of a slight improvement in US demand but concerns that an oversupply will persist past next year kept the commodity struggling at multi-year lows.Analysts said a sharp fall in the dollar on Wednesday may also have spurred some buying as weakness in the US currency makes dollar-priced oil cheaper.But analysts also noted that the unit will likely to gather strength before a Fed meeting next week in which the US central bank is widely expected to raise interest rates.US benchmark West Texas Intermediate for delivery in January was up 23 cents at $37.39 and Brent crude for January was trading 33 cents higher at $40.44 at around 0300 GMT.Prices have slumped about nine percent since Friday�s decision by the OPEC oil exporters club not to cut output despite pumping more than its target in the face of a global oversupply and weakness in the world economy.There was some good news when the Department of Energy said US Wednesday oil inventories fell 3.6 million barrels in the week ending December 4, a booster for prices as it indicates an uptick in demand.However, Sanjeev Gupta, who heads the Asia Pacific oil and gas practice at professional services firm EY, said: "The market remains weak overall due to global oversupply, compounded by the OPEC�s decision to leave its production quota unchanged."Investors will closely monitor the Federal Reserve�s policy-making meeting next week as dollar-dominated commodities will become more expensive if US dollar appreciates," he said.In a market commentary on Thursday, BMI Research said it expects prices to remain range-bound as the oil glut "persists to 2018".
 Global oil prices tanked on Friday close to seven-year lows on oversupply woes, sparking a fresh wave of selling on European and US stock markets as panicked investors fled the energy sector.�Crude, which has slumped since OPEC left its oil output at a record high level last week, took another tumble after the International Energy Agency (IEA) said oversupply would persist until late 2016.�In response, Brent crude futures for January delivery collapsed to $38.90 per barrel -- a level last seen on December 31, 2008, during the global financial crisis.�US benchmark West Texas Intermediate (WTI) for delivery in January dived to $36.12 -- last witnessed in February 2009.�"Comments from the IEA have ... seen both WTI and Brent fall aggressively, after they (indicated) that the unrelenting supply would see oil prices lower into the new year," said analyst James Hughes at trading firm GKFX.�Traders were also positioning themselves before the weekend and next Wednesday�s expected interest rate hike, the first in nine years, from the US Federal Reserve.�The prospect of higher rates boosts the greenback, which in turn makes dollar-priced crude more expensive for buyers using weaker currencies. That tends to weigh on oil demand and pull prices lower.�"Oil prices have fallen heavily again this morning as the commodity rout continues to dominate the week," Hughes told AFP.�"Prices have tumbled yet again as many investors try and position themselves ahead of the weekend, and also next week�s key Fed decision."�Oil has collapsed by more than 10 percent since the 13-nation Organization of the Petroleum Exporting Countries decided against cutting output despite plunging prices, weak global demand and the stubborn supply glut.�That has sent shockwaves across world equity markets because low oil prices slash profits for energy majors like BP, Total and Royal Dutch Shell.�In mid-afternoon trading, major European markets saw early losses deepen with the London FTSE 100 index shedding 1.8 percent to drop below the 6,000 mark, while Frankfurt and Paris lost 2.2 percent in value.�BP�s share price slid 3.2 percent to 339.80 pence and Shell�s �B� shares dropped 4 percent to 1,498 pence and Anglo American shed 7 percent in a London session which saw just two FTSE 100 firms in positive territory.�French giant Total saw its stock sink 3 percent.�US stocks opened more than one percent lower, with investors selling down industrial heavyweights Dow Chemical and DuPont after they confirmed plans to merge.�Ten minutes into trade, the Dow Jones Industrial Average was off 1.26 percent with the broad-based S&amp;P 500 and the tech-rich Nasdaq Composite Index similarly heading south.�Dow Chemical and DuPont both gave up about half the sharp gains that came Wednesday on leaked news of their mega-merger, losing 3.9 percent and 5.8 percent respectively.�Most Asian markets also sank at the end of a painful week for global equities defined by a commodities rout which analysts expect to continue.�With the global economy struggling, China�s growth subdued and the dollar tipped to strengthen further, oil is expected to remain beaten down until possibly 2017.�Shares in Hong Kong sank 1.1 percent -- a seventh-successive loss -- with CNOOC and PetroChina leading energy firms lower.�On other markets Shanghai slipped 0.9 percent, but bargain-buying and a weaker yen helped Tokyo rally.�- Key figures around 1500 GMT -�London - FTSE 100: DOWN 1.8 percent at 5,979 pointsFrankfurt - DAX 30: DOWN 2.2 percent at 10,362Paris - CAC 40: DOWN 2.2 percent at 4,531EURO STOXX 50: DOWN 2.0 percent at 3,206New York - Dow Jones: DOWN 1.3 percent at 17,353.27Tokyo - Nikkei 225: UP 1.0 percent at 19,230.48 (close)Euro/dollar: UP to $1.1021 from $1.0939 late in New York on Thursday.Dollar/yen: UP to 121.70 yen from 121.62 yen
 Federal Finance Minister, Ishaq Dar on Saturday claimed that Pakistan Muslim League-N (PML-N) has once again put the �failed state� back on its feet.��We are taking Pakistan to an economic take off,� he said while addressing a national conference organized by Jang Group of Companies on the topic of �Role of Islamic Banking in Pakistan Economy�.�He said the promotion of Islamic banking in Pakistan is among the top priorities of the government. �Instructions have already been issued to the institutions to carry out transactions through Islamic banking,� he added.�Governor State Bank of Pakistan (SBP) Ashraf Wathra, president National Bank of Pakistan (NBP) Ashraf Iqbal and president Muslim Commercial Bank (MCB), Mian Mansha said there is a great scope for Islamic banking in agriculture, SMEs and housing sectors.�MD Jang Group, Sarmad Ali, Deputy Governor SBP Saeed Ahmed, president Meezan Bank Irfan Siddiqui, president SAARC Chamber Iftikhar Ali Malik and president Al-Barka Bank Shafaat Ahmed also spoke on the occasion.
 International oil and gas companies and some leading global investors have shown interest in Pakistan�s promising gas sector, which is a very healthy sign, said Ghiyas Paracha, Chairman All Pakistan CNG Association (APCNGA) in a statement here on Sunday.�He said the oil and gas majors in US, Russia, China, UAE and Singapore have realised Pakistan�s interest in gas, prompting them to explore opportunities in gas import terminals and pipelines.�Paracha said the confidence of investors is rising which will help the government bridge gas shortfall of two billion cubic feet.�He said government is framing policy for gas import by CNG sector which will relieve government of the burden besides resulting in price cuts as compared to petrol.�He said gas utilities are improving transmission and distribution system, which would increase their swap capacity by December 2016.�He said completion of LNG pipeline and more terminals will settle the energy crisis, Ghiyas Paracha said. (PPI)
 Energy-linked firms took another battering in Asia Monday morning, leading losses on regional markets as oil prices sank to fresh seven-year lows, with warnings of further falls to come for the commodity.However, while companies that rely on fossil fuels to drive profits were taking a hit, analysts said the weekend climate deal was unlikely to have had a major impact on their shares for now.Adding to the unease on trading floors is this week�s Federal Reserve policy meeting that is widely expected to see US interest rates lifted for the first time since 2006.Crude has slumped more than 12 percent since the OPEC oil producers� group on December 4 opted against cutting its output levels, despite anaemic demand, a global economic malaise and a growth slowdown in major consumer China.And with the commodity falling further on Monday, regional energy companies tumbled. In Sydney BHP Billiton shed 2.2 percent, Rio Tinto was 1.5 percent lower and Santos lost 3.4 percent.Elsewhere, Hong Kong-listed CNOOC sank 2.8 percent and Sinopec fell more than two percent. Inpex dived 3.7 percent in Tokyo while JX Holdings was more than three percent off.However, CMC Markets chief analyst Ric Spooner said there were too many other negatives to suggest Saturday�s agreement to limit global warming to below two degrees Celsius (3.6 degrees Fahrenheit) over pre-industrial levels had any real impact.- Hong Kong�s SCMP sold -"It�s difficult to strip out what impact there has been, if any, given the day already had so many negatives," he said. "That said, it�s possible that investors will increasingly start to look to the medium- and long-term future of the oil and gas sector."Tokyo�s Nikkei led Asian markets down, shedding 2.5 percent by lunch, while Hong Kong was off 1.8 percent, Sydney slipped 1.3 percent and Shanghai gave up 0.3 percent.The losses followed another sell-off on Wall Street, where all three main indexes ended in the red.Hong Kong-listed shares in SCMP Group were suspended as it was announced Chinese Internet giant Alibaba will pay US$266 million for the city�s South China Morning Post newspaper.The Chinese firm announced the purchase on Friday, saying it would use its "digital expertise" to provide "comprehensive and insightful news and analysis of the big stories in Hong Kong and China".SCMP Group also owns the Hong Kong editions of magazines Esquire, Elle, Cosmopolitan and Harper�s Bazaar.Also in Hong Kong, conglomerate Fosun International plunged more than 11 percent as it resumed trading after it said last week its head was cooperating with authorities over an investigation, but there were no details about what the inquiry was in connection with.The firm�s billionaire chairman Guo Guangchang, dubbed "China�s Warren Buffett", reappeared Monday after he went missing Thursday.�- Key figures around 0300 GMT -Tokyo - Nikkei 225: DOWN 2.5 percent at 18,757.32 (break)Hong Kong - Hang Seng: DOWN 1.8 percent at 21,087.43Sydney - S&amp;P/ASX 200: DOWN 1.3 percent at 4,964.90Euro/dollar: DOWN to $1.0964 from $1.0996 late late FridayDollar/yen: UP to 121.06 yen from 120.86 yenNew York - Dow: DOWN 1.8 percent at 17,265.21 (close)London - FTSE 100: DOWN 2.2 percent at 5,953 (close)
 Oil prices were mixed in Asian trade on Tuesday after rebounding from sub-$35 levels in New York, but traders were braced for more downward pressure ahead of an expected hike in US interest rates.With global oversupply still dictating price trends, West Texas Intermediate for delivery in January was up two cents at $36.33 by 0330 GMT, while Brent crude for January dipped four cents to $37.88.WTI had fallen briefly in New York below $35 a barrel, the lowest levels since February 2009 during the global financial crisis.Ted Sloup of iiTrader.com called the rebound "a healthy correction" in a technically oversold market but added that the mood was "still very bearish" as investors continued to worry about global oversupply.BMI research said in a report that more downside pressure is expected in the coming months."Oil prices will remain anchored by oversupply," it said, predicting that the global surplus "will only narrow significantly post-2018."Prices have fallen more than 60 percent from levels above $100 in June last year owing to slack global demand and a slowdown in key markets including China.Also, the world market is awash with the commodity as the OPEC exporters� group refuses to cap production in a move to preserve its market share, while Iran is expected to restart pumping its own crude for shipment in 2016.An anticipated US interest rate hike on Wednesday could put further pressure on oil demand because the commodity is priced in dollars, making it more expensive for economies with weaker currencies.
 The dollar held steady on Wednesday after upbeat US inflation figures all but sealed the case for a Federal Reserve interest rate hike, analysts said.Financial markets are focused on the US central bank�s last 2015 meeting, which wraps up Wednesday, with policymakers likely to give the go-ahead to a rate rise for the first time in almost a decade.The case for a rate lift-off -- which is a plus for the dollar -- has grown stronger over the past year as the world�s top economy appeared to be staging a firm recovery.That view got another boost Tuesday as fresh November data showed an inflation gauge that excludes volatile food and energy prices hit the Fed�s 2.0 percent target."For (Fed Chair) Janet Yellen, who has been at pains to emphasise her concern of inflation overshooting if rates are not hiked in 2015, this final data point surely locks in the Fed rate rise now," Angus Nicholson, a market analyst with IG Ltd. in Melbourne, wrote in a commentary.The benchmark federal funds rate has been pegged near zero since December 2008 to support the economy�s recovery from deep recession.In Tokyo trading, the dollar rose to 121.87 yen from 121.66 yen Tuesday in New York, while it gained 0.18 percent against the Malaysian ringgit, and also ticked up against the Taiwanese dollar, Thai baht, Indonesian rupiah and Singapore dollar.However, the South Korean won rose 0.67 percent on the greenback, as it bounced off recent drops.The euro edged up to $1.0936 and 133.18 yen from $1.0930 and 132.97 yen in US trading.The pound ticked up to $1.5050 from $1.5039 while the dollar edged down to 0.9901 Swiss Francs against 0.9914 francs in New York.While markets have been pricing in a rate hike, analysts said there was still room for the dollar to strengthen."Money markets have not fully discounted a Fed rate hike, so there is scope for the US dollar to have a knee-jerk upside reaction," Elias Haddad, a currency strategist at Commonwealth Bank of Australia, told Bloomberg News."We expect the (Federal Open Market Committee) to emphasise that its tightening cycle will be gradual. This should slow rather than reverse the uptrend in the dollar."
 Crude prices extended losses in Asia Thursday after another report showing a further increase in US stockpiles added to fears about a global glut, while the dollar strengthened after the Federal Reserve hiked interest rates.</strongThe under-pressure commodity suffered fresh selling on Wednesday after the US Department of Energy showed that supplies rose 4.8 million barrels in the week ending December 11.While they recovered slightly in early Asian trade, the two main contracts retreated by mid-morning.At around 0320 GMT, US benchmark West Texas Intermediate for January delivery was down six cents at $35.46 while Brent crude for February, a new contract, was down 15 cents at $37.24.Prices tumbled since December 4, when the OPEC oil exporters� group refused to put a limit on the amount it produces, despite a supply glut, anaemic demand and a slowing global economy."While the global oversupply has been persistent, expanding US supplies on warmer weather and low heating demand is putting a further downward pressure on oil," Kang Yoo Jin, a commodities analyst at NH Investment &amp; Securities, told Bloomberg News."As the market generally expects another rate increase in March, oil prices will most likely stay low at least until the first quarter."The Fed�s widely expected decision to lift interest rates for the first time since 2006 also weighed, with the dollar ticking up against most rivals, making oil more expensive to customers using weaker currencies.However, the bank�s boss Janet Yellen said she had been surprised by "the further downward movement in oil prices" and expected them to stabilise before edging up.Analysts said there was some support from US lawmakers� decision to pass a bill Wednesday to lift a four-decade ban on oil exports as part of a massive government spending overhaul.Crude exports were banned in 1975 as prices skyrocketed in the wake of the Arab oil embargo."A lifting of the export ban could narrow the spread between WTI and Brent, by providing the international market with a substitute for oil from current main supplying regions," said Sanjeev Gupta, head of the Asia-Pacific Oil and Gas practice at professional services organization EY.
 Crude futures fell in Asian trading on Friday as fresh signs of inventory building and the Federal Reserves rate hike this week kept prices under pressure amid a global glut of oil that shows no sign of abating.�US crude's West Texas Intermediate (WTI) futures CLc1 were down 18 cents at $34.77 a barrel by 0104 GMT. The contract fell 1.6 percent to $34.95 a barrel on Thursday.Brent LCOc1 fell by 19 cents to $36.87 a barrel. It fell 33 cents to $37.06 a barrel on Thursday.Both contracts are on track to post a third week of losses, with U.S. crude down 2.4 percent and Brent off by 2.6 percent.WTI is less than 60 cents away from the low reached during the global financial crisis of $32.40 in December 2008, while Brent is less than 70 cents off its nadir of $36.20 the same month.Market intelligence company Genscape reported an inventory increase of 1.4 million barrels at the Cushing, Oklahoma delivery hub for WTI futures, traders who saw the data said on Thursday.That came a day after the US Energy Information Administration (EIA) said crude stockpiles across the United States rose by 4.8 million barrels last week, compared with analysts expectations for a draw.
 Global stocks ended the week with a thud Friday as investors second-guessed the Federal Reserve�s landmark interest rate hike and focused again on the oil rout.</strong�The losses were broad in terms of geography, with bourses in Japan, Europe and New York all tumbling to conclude a topsy-turvy week on a sour note.�Friday�s trade marked an extension of Thursday�s US session, where stocks also fell sharply one day after the Fed lifted interest rates for the first time in almost a decade.�The market has been rethinking whether the initial wave of optimism about the Fed was overbaked.�"While Wednesday�s Fed rate hike removed one cloud of uncertainty from the markets... speculation about when the next one is likely to occur is not expected to remain too far away," said Michael Hewson, chief market analyst at trading group CMC Markets UK.�Oil prices fell to fresh multi-year lows as a continued supply glut weighed on the commodity and petroleum-linked stocks.�"Overall, the market is still trying to digest two things," said David Levy, portfolio manager at Kenjol Capital Management. "We still have in mind the price of oil as well as the long-term ramifications of what the Federal Reserve is trying to do."�- Dow falters -�In the US, the biggest losses came in the Dow Jones Industrial Average, which shed 2.1 percent, with big companies including Apple, Boeing, JPMorgan Chase, Procter &amp; Gamble and Microsoft all losing between 2.7 percent and 4.1 percent.�Another Dow company, Disney, fell 3.8 percent despite setting a record $57 million in opening-night ticket sales for its blockbuster "Star Wars: The Force Awakens." BTIG downgraded the stock, saying the strong performance of the movie will not be enough to offset weakness in Disney�s ESPN division.�The Frankfurt and Paris exchanges closed down more than 1.0 percent while London ended the day off by 0.8 percent.�Japan�s Nikkei 225 index dropped 1.9 percent following unexpected Bank of Japan policy tweaks that initially sent the yen briefly lower.�In Argentina, the Merval index lost 4.5 percent following a week of shock economic reforms by the new conservative government, including a decision to scrap currency restrictions.�The euro picked up to $1.0870 in foreign exchange deals having fallen heavily Wednesday after the US Federal Reserve raised borrowing costs from near zero, where they were pegged for seven years to support the recovery from the Great Recession.�Next week�s economic calendar is relatively light ahead of the Christmas holiday Friday, when markets are closed. Investors will be keeping an eye on key data, including economic growth figures and existing-home sales, after the Fed rate move boosted hopes the world�s top economy was back on track.�"Investors are keen to confirm the health of the US housing market," Nomura Securities said in a commentary.��- Key figures at 2200 GMT -New York - Dow: DOWN 2.1 percent at 17,128.55 (close)New York - S&amp;P 500: DOWN 1.8 percent at 2,005.55 (close)New York - Nasdaq: DOWN 1.6 percent at 4,923.08 (close)London - FTSE 100: DOWN 0.8 percent at 6,052.42 (close)Frankfurt - DAX 30: DOWN 1.2 percent at 10,608.19 (close)Paris - CAC 40: DOWN 1.1 percent at 4,625.26(close)EURO STOXX 50: DOWN 1.4 percent at 3,260.72 (close)Tokyo - Nikkei 225: DOWN 1.9 percent at 18,986.80 (close)Euro/dollar: UP to $1.0870 from $1.0824 late in New York ThursdayDollar/yen: DOWN to 121.26 yen from 122.60 yen
 Oil prices resumed their slide in Asia Monday as a spurt in the number of US oil rigs in use and the prospect of renewed crude exports from the country compounded a global oversupply.�At 0335 GMT, US benchmark West Texas Intermediate for January delivery was down 20 cents at $34.53, sitting at lows not seen since the height of the global financial crisis at the start of 2009.�European benchmark Brent crude for February was down 33 cents at $36.55.�Prices have slumped by almost a fifth since December 4 when the OPEC oil producers� group decided against limiting its production, despite tepid demand and the supply glut.�The commodity has sunk more than 60 percent from above $100 in summer 2014 and are now at levels not seen since the financial crisis.�Oversupply woes were also stoked on Friday by the Baker Hughes US oil rig count which showed an increase of 17 for the week ending December 18 to 541 rigs.�This added to "the already prevailing negative sentiments in the market due to the build-up in inventory", said Sanjeev Gupta, head of the Asia-Pacific Oil and gas practice at professional services organization EY.�US lawmakers last week lifted a 40-year ban on oil exports, marking a historic shift even though it is still largely symbolic in the futures market.�Gupta said while the move would likely have limited impact on spot prices, he warned it could "negatively impacting long-term futures prices".
 Federal Finance Minister, Ishaq Dar on Sunday said the government has no intention to undertake privatization of Pakistan International Airlines (PIA).�</strongIn a statement issued today, Ishaq Dar said the government is only looking for a strategic partner.�He said the fleet of the national flag carrier has expanded under the present government.�The Finance Minister said PIA will once again become a profitable organization.�Meanwhile, PIA action committee held an emergency meeting here today and announced to stage a protest once again against the presidential ordinance for turning PIA into a public limited company.�The PIA employees at head office and other outlets across the country will take part in the protest, sources said.
 Gold retained gains from a two-day rally on Tuesday, supported by a slide in the dollar, although a slump in oil prices and uncertainty over the pace of future U.S. interest rate hikes capped the metal's advance.</strongWhile prices drew support from a big rise in assets of the top gold exchange-traded fund (ETF) late last week, a resumption in outflows this week indicated investors remained cautious.Spot gold was little changed at $1,079.20 an ounce by 0648 GMT, after gaining 2.5 percent in the last two sessions. The metal got a boost on Monday as the dollar fell after data from the Chicago Federal Reserve suggested the U.S. economy grew at a below average pace in November."The jump in gold-ETF demand is impressive after the string of losses over the past couple of years, but the market will likely need to see further accumulation for the rally to be extended," said HSBC analyst James Steel."A major stumbling block for a further gold rally is oil, and commodity prices in general," he said, adding that oil is a powerful drag on gold.Crude oil slid to its lowest levels since 2004 on Monday and more declines could ignite deflation fears. Bullion is often seen as a hedge against oil-led inflation.SPDR Gold Trust, the world's top gold ETF, saw its assets rise by nearly 19 tonnes on Friday, the first increase in two months and the biggest in four years. But that was followed by outflows of three tonnes on Monday.Holdings of the fund had hit a seven-year low earlier in the month, as investors positioned themselves for higher interest rates in the United States.While persistent inflows into the fund can boost gold prices, a further slump in oil could undermine any rally.Also in focus was the pace of the Fed's future rate hikes. The Fed last week raised U.S. interest rates for the first time in nearly a decade. Investors fear higher rates could dent demand for non-interest-paying gold, while boosting the dollar.The Fed's promise of gradual rate hikes in coming months means the central bank will not raise rates at every meeting, Atlanta Fed President Dennis Lockhart said on Monday. The more probable pace of upcoming hikes "will be more like every other meeting," he said.
 The dollar retreated against most of its major peers and emerging market currencies Wednesday, as analysts predict the Federal Reserve could hold off another hike in borrowing costs until April.</strongAs the effects of last week�s greenback rally -- fuelled by the US central bank�s first rate rise in almost a decade -- wear off, pressure has built on the unit as dealers decide to cash in at the end of the year.With a sense of optimism reappearing in regional markets -- and demand for higher-risk assets -- Asia tracked a rally on Wall Street for a second-successive day, boosting emerging currencies. And a lift in oil prices also supported commodity-based units.The dollar�s losses also come despite upbeat readings on US growth and consumer spending that indicate the Fed�s decision to begin lift-off was well justified."There�s some paring of outstanding dollar long positions with investors reluctant to carry dollar exposure into the holidays," Ray Attrill, co-head of currency strategy at National Australia Bank in Sydney, told Bloomberg News."If you want to be at least modestly constructive on the US dollar early next year, which we are at this stage, you�re probably going to need to see the market attaching a higher probability" to the Fed raising rates in the first quarter, he said.In morning Asian trade the dollar bought 121.03 yen, down from 121.10 yen in New York Tuesday and well off the levels above 123 yen touched last week. The euro was at $1.0950 against $1.0954 but sharply up from the $1.0830 mark last week.Australia�s dollar rose 0.04 percent against the US unit, while the South Korean won was 0.2 percent higher and Taiwan�s dollar gained 0.1 percent. There were also increases for the New Zealand and Canadian dollars as well as the Thai baht.
 Oil prices extended their recent rally in Asia on Thursday as a drop in US crude supplies cheered global financial markets ahead of the long Christmas weekend.</strongThe main global contracts for the commodity surged more than 3.5 percent on Wednesday after the US Department of Energy reported inventories unexpectedly fell in the week ending December 18 while imports sank about 13 percent week on week.The news stoked hopes that a plunge in prices, which has seen the Brent contract hit 11-year lows, may be coming to an end.At 0330 GMT on Thursday US benchmark West Texas Intermediate climbed 25 cents, or 0.67 percent, to $37.75 a barrel and Brent gained 24 cents, or 0.64 percent, to 37.60.WTI this week broke past Brent for the first time since January, after US lawmakers last week lifted a 40-year ban on crude exports, leading to hopes of a fall in supplies at home."Concerns over the global supply glut have been slightly eased by last week�s decline in stockpiles," Hong Sung Ki, a commodities analyst at Samsung Futures Inc. in Seoul, told Bloomberg News."Seasonally stockpiles should be easing, but the issue here is how fast. At this price level, the number of rigs should continue to fall."However, analysts pointed out that the US report also included some aspects that were less favourable towards addressing a supply glut that has sent prices diving more than 60 percent from above $100 since summer 2014.Domestic production of oil rose slightly and inventories at a closely watched trading hub in Cushing, Oklahoma, increased.
 Federal Finance Minister, Ishaq Dar on Saturday said the present government is committed to overcoming major challenges of economic revival, energy crisis, elimination of terrorism and extremism from the country and doubling the education and health sectors� budget.�He was addressing the passing out ceremony of Probationary Officers of the 42nd Specialized Training Programme of the FBR here at Directorate General of Training and Research (Inland Revenue).�Ishaq Dar said: �I have firm belief and faith that Pakistan has great potential to progress and has very bright future that is why we have almost grasped all these major challenges by ensuring remarkable achievements in these directions.��He mentioned that the PML N government had always put the country�s economy on track to speedy growth citing that in 2012-13 Pakistan�s economy was declared instable and no country was then ready do business with Pakistan or buy Pak bonds but today Pakistan�s bonds including Sukuk got unprecedented response at global level.�He said the present government managed to stabilize Pakistan�s economy in just two years and that is why 22 credible institutions of the world have declared Pakistan�s economy much stable.��According to one of the global economic pundits, Pakistan could become world�s 18th largest economy from the current 44th till 2050, provided she maintained its current pace of economic development,� he said.�The Finance Minister said the PML-N government managed to bring down the budget deficit to 5.3 percent from 8.8 percent and would soon lower it further to 4.3 percent.�We have curtailed the discretionary funds of the Prime Minister and the ministers,� he added.
 Federal Finance Minister, Ishaq Dar on Monday said Pakistan has come a long way since 2013, as international institutions have commended the country�s economic progress.�Addressing the 39th FPCCI Export Award ceremony here, the Finance Minister said economy, education, energy and anti-terrorism efforts precede the incumbent government�s priority list.�He said the Prime Minister has taken bold steps for restoring peace across the country including Karachi.�Ishaq Dar said establishing economic discipline is the most difficult task.�He said the rate of income tax collection has witnessed a rise of 16 percent over the past five months. �We managed to put in place economic order in the country by pursuing effective policies,� he added.�The Finance Minister said the austerity measures were started from the Prime Minister�s House.�He said the scope of Benazir Income Support programme is being enhanced to three million families.
 Saudi Arabia�s government ran a record budget deficit of 367 billion riyals ($97.9 billion) in 2015 because of low oil prices, the Council of Economic and�Development Affairs said on Monday.�</strongThe deficit is "considered an acceptable figure" under the circumstances, with oil languishing at multi-year lows, Hindi bin Abdullah al-Suhaimi, an advisor to the council, told a media briefing. �State spending in 2015 totaled 975 billion riyals, more than the 860 billion riyals originally planned because of extra outlays such as a salary bonus for public employees that marked the accession of King Salman in January, Suhaimi said.�Revenues this year totalled 608 billion riyals, less than the original target of 715 billion riyals as prices for oil, on which the economy depends, fell further than expected.�Officials are due to announce Saudi Arabia�s 2016 budget plan later in the afternoon.
 Gold slipped on Monday, tracking lower oil prices, but failed to get safe-haven bids despite weakness in the dollar and Asian equities as liquidity remained thin in a holiday-shortened week.</strongSpot gold eased 0.1 percent to $1,074 an ounce by 0259 GMT.Silver dropped 0.5 percent to $14.27.Oil prices fell after the long Christmas weekend, with international crude and product markets still well supplied in excess of demand.Gold is positively correlated to oil as the metal is seen as a hedge against petroleum-led inflation.The dollar index also fell, edging towards a two-month low hit earlier in the month.MSCI�s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent, though Japan�s Nikkei was up 0.2 percent.Some markets, including Australia and many in Europe, will remain closed on Monday after Friday�s Christmas holiday.Many markets will also be shut this coming Friday for New Year�s Day."As it is a holiday shortened week, I don�t think we would see much action. Having said that, we could see some sharp moves because of the paltry liquidity in markets," said a precious metals trader in Hong Kong."Early next year, gold should move lower as the dollar will remain strong in the first half of next year," he said.Any price moves will also be impacted by the pace of US interest rate hikes, the trader said.Higher rates would dent demand for non-interest-paying gold, while boosting the dollar.Gold is set to close the year down about 9 percent, its third straight annual loss, largely in anticipation of the first US rate hike in nearly a decade, which occurred this month.Many traders and analysts expect gold to fall to $1,000 an ounce or even lower next year.Assets in SPDR Gold Trust, the world�s top gold exchange traded fund, are near a seven-year low, reflecting bearish investor sentiment.
 Oil prices fell on Monday after the long Christmas weekend, with U.S. crude defending a newly gained premium over internationally traded Brent contracts in quiet trading ahead of the end of the year.</strongFront-month US West Texas Intermediate (WTI) futures were trading at $37.87 per barrel at 0311 GMT, down 23 cents from their last settlement.Brent was down 16 cents at $37.73 a barrel, meaning that US crude defended a premium it gained over the globally traded benchmark last week.Trading volumes were down for both contracts in the post-holiday period. Only about 5,000 WTI contracts have changed hands so far during this trading session on Monday versus 8,953 contracts at this point in the trading session on December 7.The US market tightened slightly in December following reduced drilling activity, withdrawals from near record crude stockpiles and the prospect of crude exports following a 40-year export ban."The biggest adjustment to prices comes from WTI gaining premium over the Brent. This was mainly followed by the US lifting its ban on crude oil exports," Singapore-based Phillip Futures said on Monday.The brokerage added that it expected "a quiet week ahead" with the biggest expected news for energy markets likely coming from U.S. inventory data to be published on Wednesday and Thursday.While the US slightly tightened, international markets remain over supplied as producers like Russia and the Organization of the Petroleum Exporting Countries (OPEC) produce between half a million and 2 million barrels of crude every day in excess of demand.At the same time, developed and emerging economies especially in Asia are slowing.Japan's industrial output fell 1.0 percent in November from the previous month, government data showed on Monday, suggesting that sluggish emerging market demand continues to cloud the outlook for the economy.In Japan's refining sector, top oil refiner JX Nippon Oil &amp; Energy Corp said on Monday it would trim its domestic crude refining plans in January from a year earlier, due to unspecified problems with its refining operations and scheduled maintenance.The company, the core business unit of JX Holdings Inc, said it would process 1.11 million barrels per day (5.49 million kilolitres) of crude oil in January for domestic consumption, down 2 percent from a year earlier.Japan's domestic demand has been easing due to a shrinking population, while a decline in kerosene demand accelerated this month due to warmer temperatures, a spokesman said.In 2014, Japan was the third-largest global oil consumer, closely followed by India, according to the BP Statistical Review of World Energy.
 The number of e-Return filers in Pakistan has climbed to 500,000 compared to only 200,000 filers the previous year, sources at Federal Board of Revenue (FBR) said.The sources further said that the tax payers are being provided the facility of filing their returns online.The number of tax returns filers is witnessing a steady rise, the sources said.
 There will be bank holiday on Friday, January 01, 2016 all over the country.</strongAll the banks including State Bank of Pakistan, Banking Services Corporation of Pakistan, commercial and private banks and financial institutions will remain closed on January 01 throughout the country.No transaction will be carried out in the banks on January 01. However, bank staff will remain present in the banks on this day for annual closing.
 National Electric Power Regulatory Authority ( NEPRA) has approved reduction in power tariff by Rs 2.06 per unit for the month of November.</strongNEPRA took up for hearing application filed by Central Power Purchasing Agency (CPPA) seeking reduction in power tariff for the said.During the course of hearing, NEPRA curtailed the tariff by Rs 2.06 per unit against fuel adjustment surcharge for the month of November keeping in view statistics presented by CPPA.According to NEPRA the reduction in tariff will not be applicable to consumers of K-Electric and domestic consumers using upto 300 units electricity per month.
 Asian stocks were subdued on Tuesday, with Japanese and South Korean equities slipping, after crude oil prices resumed their slide and cooled investor sentiment.</strongMSCI's broadest index of Asia-Pacific shares outside Japan were effectively unchanged, and looked set for a loss of around 12 percent for the year.Japan's Nikkei lost 0.3 percent and South Korea's KOSPI fell 0.4 percent. Australian stocks bucked the trend and rose 0.4 percent.On Monday, prices of both Brent and U.S. crude dropped more than 3 percent, reversing a brief rebound and dragging U.S. energy shares down 1.8 percent as the worst performing of the major S&amp;P sectors.Brent was at $36.60 a barrel, near an 11-year low of $35.98 struck last week.The Dow dipped 0.1 percent and the S&amp;P 500 lost 0.2 percent overnight after trading resumed following the Christmas break, but activity is expected to remain thin until after the long New Year holiday weekend.In currencies, the dollar edged down 0.1 percent to 120.33 yen, within striking distance of a two-month low of 120.05 struck late last week.The greenback has been sapped by profit taking after the Federal Reserve this month hiked interest rates for the first time in nine years. The currency market will wait for the Fed to send fresh signals about when the second rate hike could take place in 2016 for potential dollar support.The euro nudged up 0.1 percent to $1.0977.The dollar fared better against its Canadian counterpart, which was weighed down as crude oil prices weakened again.The Canadian dollar stood little changed at C$1.3894 to the greenback after losing 0.7 percent overnight. The loonie fell to an 11-year low of C$1.4003 against the dollar earlier this month."We are looking for USD/CAD to break 1.40 and head towards 1.45 in the first half of 2016. The oil industry is experiencing its biggest downturn since the 1990s and prices could fall another $10 a barrel before bottoming," wrote Kathy Lien, managing director at BK Asset Management.The Australian dollar gained 0.2 percent to $0.7262 while the New Zealand dollar rose 0.2 percent to $0.6859. Both currencies were confined to a narrow range ahead of the year's end.
 Finance Minister Senator Mohammad Ishaq Dar has said all out efforts were being made to bring Pakistan International Airlines (PIA) out of deficit.Talking to media, he said the government had started restructuring of national flag carrier from day one.�Its fleet had been expanded from 18 to 38 which would soon reach 40,� he added.To a question about privatization of the Steel Mills, he said initially Sindh Government was offered to purchase the Steel Mills.He said civil and military leadership had same goals regarding operation Zarb-e-Azb and eradicating terrorism from the country.Replying to a question he said the Prime Minister Muhammad Nawaz Sharif had given special instructions to Punjab government for taking strict action in accordance with the law against banned outfits.Ishaq Dar said seminaries and international non-governmental organizations (INGOs) were being registered under newly formulated policy.Operation Zarb e Azb would continue till the elimination of last terrorist as civil and military leadership had expressed their resolve in this regard he added.
 The Ministry of Commerce has finalized new Strategic Trade Policy Framework 2015-18 which would be announced soon after the approval of the Prime Minister, a senior official said.The Framework was finalized in consultation with all stakeholders and was submitted to the Prime minister for final approval, a senior official privy to trade policy formulation told APP here.He said that under the new strategic trade policy framework 2015-18 the exports of the country would be enhanced to $35 billion by the end of the year 2018. Every year around $4 billion would be added to the exports, he remarked.Highlighting some of the main focus of the policy, the official said that under the policy incentives would be given to the exporters besides providing them soft-term loans for the purchase of technology for products upgradation and value addition to make the export oriented industry competitive in the international markets.He added that old FTAs and PTAs would be reviewed and improved for the benefits of Pakistani exporters and their products.The official said that the Commerce Ministry and its subordinate organizations including Trade Development Authority of Pakistan (TDAP), Domestic Commerce Wing and Trade Dispute Resolution organization would be strengthened further for the benefit of the country�s exports and facilitation of the exporters.He said that carry forward policies of the previous trade policy would be implemented including the start of operations of EXIM Bank (Pakistan) for the support of the exporters.He said Drawback of Local Taxes and Levies (DLTL) would also be looked into in the new trade policy.
 Global economic growth will be "disappointing" next year, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.</strong"In many countries the financial sector still has weaknesses and in emerging markets the financial risks are increasing. All of that means global growth will be disappointing and uneven in 2016," IMF Managing Director Christine Lagarde said.She added that low productivity, ageing populations and the effects of the global financial crisis were putting the brakes on growth, which has weakened the medium-term prospects.
 Crude oil futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the United States would be short-lived also hurt prices.</strongCrude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the Petroleum Exporting Countries, Russia and the United States led to a global surplus of between half a million and 2 million barrels per day.More recently, a slowing demand outlook, especially in Asia but also Europe, has started dragging on prices.Front-month U.S. West Texas Intermediate crude futures were trading at $37.18 per barrel at 0140 GMT, down 69 cents or 1.82 percent from their last settlement. Brent futures were down 47 cents, or 1.24 percent, to $37.32 a barrel.Traders said the price falls were largely a result of a weak outlook for next year and the closing of 2015 trade books."The 2016 outlook is for lower prices, especially early next year. Many are closing their last long positions for the year today as nobody wants to come back in January and be surprised badly. Better start with a clean sheet," a trader said.Forecasts that an upcoming cold weather in Europe will only be short-lived could also hurt crude prices.U.S. crude and Brent had both rallied about 3 percent in the previous session on hopes that a drop in temperatures would buoy demand for oil for heating purposes.But weather data in Thomson Reuters Eikon shows that average continental European temperatures are expected to drop from around 5 degrees Celsius currently towards and slightly below the seasonal norm of 2.4 degrees by Jan. 3 before rising to as high as 6-8 degrees by Jan. 7.For most of the United States, a brief cold period is also not expected to last for much more than a week.
 Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear.</strongGlobal oil benchmark Brent and U.S. crude's West Texas Intermediate (WTI) futures rose between 1 and 2 percent on the day on short-covering and buying support in a thinly traded market ahead of the New Year holiday.But for 2015, both benchmarks fell double-digits for a second straight year as Saudi Arabia and other members of the once-powerful Organization of the Petroleum Exporting Countries (OPEC) again failed to boost oil prices.The U.S. shale industry, meanwhile, surprised the world again with its ability to survive rock-bottom crude prices, churning out more supply than expected, even as the sell-off in oil slashed by two-thirds the number of drilling rigs in the country from a year ago.The United States also took a historic move in repealing a 40-year ban on U.S. crude exports to countries outside Canada, acknowledging the industry's growth."You do have to tip your hat to the U.S. shale industry and their ongoing ability to drive down costs and hang in there, albeit by their fingernails," said John Kilduff, a partner at Again Capital, an energy hedge fund in New York.Brent crude settled up 82 cents at $37.28 a barrel, rebounding from a near 11-year low of $36.10 hit earlier in the session. For the month, it was down 16 percent and for the year, it fell 35 percent. In 2014, Brent lost 48 percent.WTI rose 44 cents to $37.04 a barrel. It slid 11 percent in December and 30 percent for the year, after a 46 percent loss in 2014.The immediate outlook for oil prices remains bleak. Goldman Sachs has said prices as low as $20 per barrel might be necessary to push enough production out of business and allow a rebalancing of the market.Adding to oil's woes, floods across the Midwestern United States were threatening refineries and pipelines from Illinois to Louisiana, potentially swelling the glut of domestic crude at a time when stockpiles were already at record highs.A mild winter so far in the Northern Hemisphere due to the El Ni�o weather phenomenon has also slashed demand for heating oil. U.S. heating oil prices fell 40 percent for a second year in a row."We have brimming oil inventories in Europe," Bjarne Schieldrop, chief commodity analyst at SEB in Oslo, said. "And our predictions are that oil inventories in Asia are going to get closer to saturation in the first quarter."Morgan Stanley said in its outlook for next year that "headwinds (are) growing for 2016 oil."The bank cited ongoing increases in available global supplies, despite some cuts by U.S. shale drillers. "The hope for a rebalancing in 2016 continues to suffer serious setbacks," it said.strong>INDUSTRY PAIN</strongBrent prices briefly hit a 2004 bottom below $36 a barrel last week, effectively wiping out gains from a decade-long commodity super-cycle sparked by China's once-inexorable growth and energy demand boom.The downturn in oil has caused pain across the energy supply chain, including to shippers, private oil drillers and oil-dependent countries from Venezuela and Russia to the Middle East.Analysts estimate global crude production exceeds demand anywhere between half a million and 2 million barrels a day. This means even the most aggressive estimates of expected U.S. production cuts of 500,000 bpd for 2016 would be unlikely to fully rebalance the market.Oil began falling in mid-2014 as surging output from OPEC, Russia and U.S. shale producers outpaced demand. The downturn accelerated at the end of 2014 after a Saudi-led OPEC decision to keep production high to defend global market share rather than cut output to support prices.OPEC failed to agree on any production targets at its Dec. 4 meeting in Vienna, cementing its decision to protect market share, as the world braces for the return of Iranian crude exports to the market after the lifting of Western sanctions against Tehran.Russia is also showing no signs of reining in production, prompting traders, hedge fund managers and other speculators to establish record high active short positions in the market that would profit from further crude price falls.
 National Accountability Bureau (NAB) Chairman Qamar Zaman Chaudhry has said that an effective anti-corruption strategy yielded results in 2015 and it will continue in 2016.</strongThe NAB chairman said that it was encouraging that for the first time the anti-corruption has been made a part of development agenda in Pakistan in the context of governance.�The Planning Commission of Pakistan has included a chapter devoted to issues of corruption in the 11th five-year plan and we intend to work closely with the commission to achieve the goals,� the NAB chairman said, according to a press release issued here on Saturday.The NAB prosecuted corrupt elements and recovered over Rs4.5 billion looted money during the last one year, bringing the total recovery to date to Rs265.12 billion.Last year the NAB filed 12 references in the Rs22 billion Modarba scam and recovered over Rs1billion from the accused involved in the scam. NAB also arrested 33 accused in the case.During the last year, the NAB also filed nine references in the Rental Power Project case in respective accountability courts.On the directives of the NAB Chairman a standard operating procedure (SOP) has already been devised to rationalize the workload and timelines have been prescribed for efficient, effective and expeditious disposal of cases putting a maximum limit of 10 months from complaint verification to inquiry to investigation and finally to a reference in the accountability court.
 Minister for Water and Power Khawaja Asif on Monday said that 2015 remained a good year for the power sector as the total recoveries from consumers stood at 93 percent against 88 percent last year.The minister in a statement here, said that in December maximum recoveries were made bringing the annual recoveries to 93 percent resulting in a benefit of Rs 56 billion on this account only.The minister said that the losses also went down from 19per cent to 17.9 per cent during the said period resulting in a benefit of around Rs 12 billion.�We are Rs 68 billion higher in revenue in 2015 despite reducing monthly tariff,� he said.Asif said that Rs 49 billion were also saved on account of oil consumption owing to �merit order generation�.He said the government also succeeded to cap the circular debt since November 2014 and kept it in the band of Rs 310 � 330 billion.
 Federal Investigation Agency (FIA) on Monday raided offices of AKD Group and rounded up three of its senior officials over charges of causing losses of millions of rupees to the national kitty.�Later, Aqeel Karim Dhedhi, Chairman of the AKD Group at a press conference here at Karachi Press Club expressed his reservations over the raids and the arrest of the two directors.�Earlier, the FIA took into custody Muhammad Fareed Alam - CEO AKD Securities, Tariq Adam Ghumra - Director, Head of Equity Operations AKD Securities and Muhammad Iqbal � another Director in the AKD Group.
 Oil prices surged during the start of 2016 trading as relations between top crude producers Saudi Arabia and Iran deteriorated, raising concerns about potential supply disruptions, though weak Asian manufacturing data kept a lid on bullish expectations.</strongSaudi Arabia, the world�s biggest oil exporter, cut diplomatic ties with Iran on Sunday in response to the storming of its embassy in Tehran.The diplomatic row between the two major oil producers escalated following Riyadh�s execution of a prominent cleric on Saturday.Global oil benchmark Brent climbed more than a dollar to a high of $38.50 per barrel on Monday, before easing back to $38.10 at 0350 GMT, still up over 2 percent.US crude�s West Texas Intermediate (WTI) futures were up 77 cents, or 2.08 percent, at $37.81 a barrel.Oil traders said the crisis between Saudi Arabia, also the world�s second-largest oil producer, and Iran, which holds some of the largest proven oil reserves, was pushing up prices.The clash between the two Middle Eastern rivals also comes as Iran hopes to ramp up oil exports following the expected removal of sanctions against it after reaching a deal over its alleged nuclear weapons development programme."With increased geopolitical tensions between Saudi Arabia and Iran, the market has put a premium on prices just when markets opened (in 2016)," brokerage Phillip Futures said on Monday.Despite Monday�s jump, oil prices are down by two-thirds since mid-2014 on ballooning oversupply as producers including the Organization of the Petroleum Exporting Countries (OPEC), Russia and the United States pump between 0.5 million and 2 million barrels of oil every day in excess of demand.
 Asian share markets struggled to stabilize on Tuesday as Chinese stocks bounced from a shaky start, offering hope that Monday's plunge was a flash in the pan.</strongThe People's Bank of China injected a generous slug of liquidity into domestic markets to keep borrowing costs down.The central bank also set the value of its yuan currency a little firmer than many had expected, countering concerns China was seeking an aggressive devaluation to aid exports.After an opening skid, the CSI300 index of the largest listed companies in Shanghai and Shenzhen rebounded to be 0.7 percent higher. That followed a 7 percent dive on Monday and only added to the market's reputation for wild moves.Shares in Shanghai veered either side of flat and were last up 0.2 percent."The price action reminds investors that the world is more connected than ever; volatility is likely here to stay, and liquidity may suffer if investor uncertainty worsens," analysts at Citi said in a note."Global growth and geopolitical stability remain the main sources of concern."Investors across the rest of Asia hoped for the best and nudged Japan's Nikkei up 0.4 percent, recouping just a little of Monday's 3.1 percent dive.MSCI's broadest index of Asia-Pacific shares outside Japan swung higher to be up 0.3 percent, but Australia's market was still down by 0.9 percent.EMINI futures for the S&amp;P 500 ESc1 also hinted at a bounce with a rise of 0.25 percent.The Dow ended Monday down 1.58 percent, while the S&amp;P 500 fell 1.53 percent and the Nasdaq dropped 2.08 percent as weak Chinese and U.S. factory activity surveys rekindled fears of a global economic slowdown.strong>POLICY WATCH</strongPolicymakers seemed to share the general sense of unease.A South Korean finance ministry official on Tuesday said the government will take action to stabilize markets if needed.Sweden on Monday gave its central bank chief formal powers to act immediately to weaken the crown and help push up inflation, a radical step among developed world institutions.Under Governor Stefan Ingves, Sweden's Riksbank has already slashed rates to a record low of -0.35 percent.The European Central Bank was under pressure to do yet more after German inflation proved surprisingly weak in December, pushing down bond yields and slugging the euro.The common currency was stuck at $1.0825 on Tuesday, having touched a one-month low around $1.0780. Against a basket of major currencies, the dollar was flat at 98.872.The dollar regained some ground on the yen to stand at 119.49 after being as low as 118.68 on Monday.Oil prices edged up on Tuesday after a volatile session the previous day, with the impact of tension in the Middle East offset by worries over global economic growth.Brent LCOc1 for February delivery was quoted 29 cents firmer at $37.51 a barrel, while U.S. crude added 27 cents to $37.03.
 The State Bank of Pakistan (SBP) has frozen bank accounts of over Rs1 billion as they were allegedly being used for financing terrorism.This was disclosed by Governor SBP, Ashraf Wathra and his team at a press conference here on Wednesday.Wathra said 121 bank accounts of more than Rs 1 billion were frozen over evidence of being used for funding terrorist activities in the light of a resolution of United Nations Security Council (UNSC).In order to choke the funding of terrorists, he stressed the need for making the National Counter-terrorism Authority (NACTA) functional besides enhancement of cooperation between federation and provinces.He said effective measures were being adopted for putting tabs of transfer of money through �Hundi�.The SBP Governor further said that about 20 to 30 percent imports were taking place without the letter of credit (LC). �We are binding such importers to identify their sources of funding,� he added.
 Oil prices slid more than 4 percent to new 11-year lows on Wednesday as the row between Saudi Arabia and Iran made any cooperation between major exporters to cut output even more unlikely.The furore over Saudi Arabia�s execution of a Shi�ite cleric has stripped nearly 8 percent off the price of oil in the last three trading days, killing speculation that OPEC members might agree to production cuts to lift prices."There are rising stockpiles and the tension between Iran and Saudi Arabia make any deal on production unlikely," said Michael Hewson, chief market analyst at CMC Markets.Evidence of slowing economic growth in China and India has meanwhile fuelled fears that even strong demand elsewhere may not be enough to mop up the excess crude that has resulted from near-record production over the last year.Benchmark Brent crude futures were at $35.07 a barrel at 1318 GMT, down $1.58 on the day, and reached their lowest since early July 2004, having staged their largest one-day drop in percentage terms in nearly five weeks.US crude futures were down $1.25 cents at $34.72 a barrel after slipping 79 cents the previous day.Oil has slumped from above $115 in June 2014 as shale oil from the United States has flooded the market, while falling prices have prompted some producers to pump even harder to compensate for lower revenues and to keep market share.Adding to this oversupply, Iranian oil exports are widely expected to increase in 2016 as Western sanctions against Tehran over its nuclear programme are lifted."Shale production and increasing capacity from countries like Russia who need to protect revenue combined with expectations of further Iranian supply mean actual production as well as expectations of future production are rising," Hewson said.Still, a senior Iranian oil official said the country could moderate oil export increases once sanctions are lifted to avoid putting prices under further pressure.Also feeding into broad market weakness, a survey showed that China�s services sector expanded at its slowest pace in 17 months in December, following on from weak factory data on Monday which also knocked markets globally.The People�s Bank of China set a weaker midpoint for the yuan, prompting concerns that the economy of the world�s largest energy consumer could be in worse shape than<br/>believed.In the United States, concerns over mounting oil stock levels persisted, with crude inventories likely to have risen by 439,000 barrels last week, according to a Reuters poll of eight analysts.The US Energy Information Administration (EIA) will publish its closely watched weekly data at 1530 GMT.Some analysts think oil prices have fallen too far and will stage a sharp recovery later in the year, with Commerzbank targeting $60 per barrel by the end of 2016."This looks ambitious from current levels but current prices are unsustainably low," Carsten Fritsch, senior oil analyst at Commerzbank, told the Global Oil Forum."We are in a speculative exaggeration at the moment."He added that he expects US oil production to fall at least 1 million bpd by autumn.�
 Asian stocks were subdued early on Wednesday as floundering crude oil prices continued to dampen risk sentiment, while the dollar and yen drew support from anxiety over global growth and geopolitical risk stemming from Iran-Saudi tensions.</strongMSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent. Wall Street shares closed Tuesday on very modest gains and failed to provide Asia with much impetus.Australian shares lost 0.7 percent and South Korea's KOSPI dipped 0.1 percent. Japan's Nikkei bucked the trend and rose 0.2 percent.Risk markets are now waiting to see how Chinese equities will fare later in the session. Shanghai shares stabilised somewhat on Tuesday, following an arresting 7 percent plunge at the week's start that spooked stocks worldwide.Both the dollar and yen attracted bids amid the risk aversion that gripped financial markets globally from the start of 2016.The euro stood little changed at $1.0752 after shedding 0.8 percent overnight, when it a one-month low of $1.0711.The common currency was steady at 128.045 yen following an overnight drop of 1 percent. It dipped as far as 127.535 on Tuesday, its lowest since late April.Kathy Lien, managing director of FX strategy at BK Asset Management, wrote that the U.S. and Japanese currencies were being bought because "China is in trouble, U.S. data has been disappointing, Japan refuses to increase stimulus and oil prices continue to fall, but everyone's greatest fear is that stocks have finally peaked".The yen had a slight edge over the greenback. The dollar traded at 119.14 after slipping 0.3 percent overnight. It had hit a 2-1/2-month low of 118.705 earlier this week.In commodities, crude oil prices struggled near 11-year lows, with the market giving more attention to the stronger dollar and swelling U.S. inventories rather than growing tensions between Saudi Arabia and Iran.Relations between the two major oil producers collapsed in acrimony this week after Saudi Arabia executed a cleric, setting off a storm of protests in Tehran.U.S. crude nudged up to $36.28 a barrel but was still down 2 percent on the week and near a seven-year low of $33.98 hit late last month.Oil-linked currencies like the Canadian dollar sank deeper on shaky crude prices. Canada's loonie fell to a 12-year low of C$1.402 to the dollar overnight.
 The collapse in relations between Saudi Arabia and Iran after the Saudi execution of a Shi�ite cleric puts an end to speculation that OPEC could somehow agree production curbs to lift the price of oil anytime soon.A Reuters survey of OPEC production showed on Tuesday that Saudi Arabia ended 2015 with its output at full tilt, with no sign of cutting supply to make room for Iran, which plans to ramp up its own output when international financial sanctions are lifted this year.According to the survey, compiled from shipping data, oil company figures and industry experts, Saudi production for December averaged 10.15 million barrels per day.That means it was above 10 million barrels per day for nine straight months, the longest period of sustained production above that threshold for decades.The determination by the world�s biggest exporter Saudi Arabia to defend its market share despite a global glut has helped drive oil prices to their lowest in 11 years.Meanwhile, the lifting of sanctions on Iran in line with a nuclear agreement is expected to provide the biggest increase in supply of 2016. The world is now producing 1.5 million barrels a day more than it is consuming, and Iran is promising to add another million bpd to supply over the next 12 months.The Organization of Petroleum Exporting Countries failed to agree any caps on production at its annual meeting in Vienna last month, amid acrimony between Saudi Arabia and Iran, the Gulf region�s main Sunni and Shi�ite powers.If there was still any suggestion that the two rivals might somehow overcome their animosity to agree to manage supply this year, it was buried on Monday when Riyadh called off diplomatic ties with Tehran over Iran�s response to the execution of Saudi<br/>Shi�ite cleric Nimr al-Nimr.Several OPEC delegates told Reuters they now saw no chance of any improvement in relations between OPEC members, which have been already very low over the past months.<br/><br/>"This new situation will just make it worse and I see no agreement to be reached within OPEC," one representative to OPEC from a member country outside the Gulf region said, on condition of anonymity.
strong>The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market economies will tamp activity overall, as will anaemic showings from developed countries such as the United States.</strongGlobal growth should accelerate to 2.9 percent this year from 2.4 percent in 2015, the bank said, but that still represents a downgrade from its June forecast for 3.3 percent growth.The bank raised particular concern about the flagging performance of top emerging economies."Given the size and global economic integration of the largest emerging markets - Brazil, the Russian Federation, India, China, and South Africa, or the so-called BRICS - the simultaneous slowdown underway in all but one of them could have significant spillovers to the rest of the world," the report said.The bank forecast the Russian and Brazilian economies would continue to contract in 2016 rather than return to growth as it had estimated in its previous outlook in June.Real gross domestic product in Russia could shrink at a 0.7 percent annual pace this year, it said. In June it had forecast 0.7 percent GDP growth for 2016. The bank estimates the Russian economy shrank by 3.8 percent in 2015.In Brazil, GDP is forecast to decline by 2.5 percent in 2016 compared with an earlier estimate for growth of 1.1 percent, the World Bank said. The Brazilian economy likely contracted at a 3.7 percent rate in 2015.China GDP growth was estimated to slow to 6.7 percent in 2016 from an estimated 6.9 percent in 2015. In June the bank had estimated 2016 growth of 7.0 percent.The South African economy should grow at a modestly faster rate in 2016 than last year - 1.4 percent compared with 1.3 percent - but substantially slower than the 2.1 percent growth forecast in June.Of that group, India was the only one expected to see notable improvement in economic performance from 2015 - advancing at a 7.8 percent rate in 2016 versus 7.3 percent in 2015. But even there, the bank nipped its 2016 estimate by 0.1 percentage point from its earlier forecast.The bank also trimmed its outlook for the United States and other developed economies.The U.S. economy should grow by 2.7 percent, down from an earlier estimate of 2.8 percent but up from 2015's 2.5 percent.Estimates for growth in the euro zone were trimmed by the same amount, to 1.7 percent from 1.8 percent previously, although that would mark a modest acceleration from 2015's estimated 1.5 percent rate.
 Brent crude prices fell to fresh 11-year lows on Thursday as fresh concerns over China's economy added to huge storage overhangs, near-record production and slowing demand that have already pummelled prices.</strongChina accelerated the devaluation of the yuan on Thursday, sending currencies across the region reeling and domestic stock markets tumbling, as investors feared the Asian giant was kicking off a virtual trade war against its competitors. Trading on its stock markets was suspended for the rest of the day.Global oil prices have crashed 70 percent since mid-2014 as near record output from major producers like the Organization of the Petroleum Exporting Countries (OPEC), Russia and North America create a ballooning overhang that has left storage tanks around the world struggling to cope with the excess oil.At the same time, demand is slowing, especially in Asia where the biggest economy and energy consumer, China, is seeing the slowest economic growth in a generation.Global benchmark Brent crude futures fell to new 11-year lows of $33.09 per barrel on Thursday, undercutting a low from a day earlier, although prices edged back to $33.52 per barrel by 0213 GMT.Traders said a dispute between Saudi Arabia and Iran, which might normally be seen as posing a risk to oil supplies, may actually be bearish as it all but eliminates cooperation over production between the two OPEC members."Neither one of them (Saudi Arabia or Iran) is going to voluntarily cede a single barrel to the other, so it arguably makes a coordinated production cut even less likely than it has been," one Middle East oil trader said.In the United States, West Texas Intermediate (WTI) futures set fresh 2009 lows of $32.77 per barrel, with prices crawling back to $33.25 by 0213 GMT.Analysts said that the huge U.S. storage overhang was the main reason for falling WTI crude."Data suggest gasoline and distillate fuel stockpiles increased 10.6 million barrels and 6.3 million barrels, respectively, last week. The rise in gasoline and distillate inventory more than offset the fall in crude oil inventory levels by 5.09 million barrels to (still near record) 482.3 million barrels last week," ANZ bank said.The huge storage overhang means that even if U.S. production falls this year as drillers succumb to low prices, it will take many months to work down excess supplies.With the global economy looking shaky due to China's slowdown, traders said the outlook for oil remains for cheap prices for much of this year.
 Pakistan�s foreign exchange reserves fell to $20.810 billion in the week ending Jan 1, compared with $21.073 billion the previous week, according to State Bank of Pakistan.Remittances from Pakistanis abroad rose 7.57 percent to $8.098 billion in the first five months of 2015/16 fiscal year, from $7.528 billion during the same period last year.The fiscal year runs from July to June.
 Global benchmark oil futures rallied more than 2 percent on Friday, following Asian shares higher after Beijing deactivated a circuit breaker mechanism that was blamed for aggravating equity market crashes.</strongChinese stocks were also boosted as the yuan currency firmed in early trade after the central bank strengthened its official rate for the first time in nine trading days.Brent had risen 56 cents to $34.31 a barrel as of 0150 GMT, having hit an intraday high of $34.72. It settled down 48 cents at $33.75 in the previous session, after marking $32.16, a level last seen in April 2004.U.S. crude West Texas Intermediate (WTI) was trading 63 cents higher at $33.90 a barrel after settling at $33.27 on Thursday. In the last session, it hit its lowest since late 2003 at $32.10.OPEC's smallest member Ecuador, which has increased debt and reduced investments due to the oil price plunge, said on Thursday it would continue to press for production cuts at the cartel's next meeting scheduled for June."Oil remains under pressure amid concerns about China's economy," ANZ said in a note on Friday."With rising Middle East tensions now a distant memory, oil is likely to test the $30 a barrel level amid growing concerns on the impact of a weakening yuan on Chinese demand."Natixis said in a research note that global demand should increase by 1.1 million barrels per day (bpd) as opposed to 1.7 million bpd in 2015."There are several clouds on the horizon which may impact demand growth such as the potential slowdown in China and any other emerging markets," it said.Chart-watching oil analysts said if oil prices do not rally hard on Friday, they seem doomed to drop below $30 a barrel for the first time since 2003.
strong>The benchmark S&amp;P 500 U.S. stock index on Friday notched its worst five-day start to a year on record as fear of a slowdown in China offset a surprisingly strong payrolls report in the United States.</strongBrent and U.S. crude futures prices extended their weekly slide to more than 10 percent, pressured by unrelenting oversupply and a bleak demand outlook.Stocks had opened higher on Wall Street after data showed the economy created many more jobs than expected in December and previous months were revised higher.But the S&amp;P 500 hit its session high within five minutes of the open and closed near its session low, down more than 1 percent on the day and 6 percent for the week.It was the largest weekly drop in more than four years and the largest 5-day slide to start a year on record."The market�s reaction (to the jobs report) is something between curious and concerning," said Richard Scalone, co-head of foreign exchange at TJM Brokerage in Chicago."People are skittish in holding positions. If you are long stocks, you think you might be saved by this jobs report. If they don't go up, you are in trouble.�Investors fear that China, the second-largest economy in the world, is growing more slowly than expected and could further weigh on commodity prices and global economic growth.Stocks and other risk assets got support earlier from Asian markets after China nudged the yuan higher for the first time in nine days, easing fears it had lost control of the currency, and as the Chinese stock benchmark rose 2 percent.Europe initially followed suit, but the pan-European FTSEurofirst 300 index closed down 1.5 percent and lost 6.7 percent this week.MSCI's broadest gauge of stocks globally was down 0.8 percent on the day and fell more than 6 percent this week, also the largest such drop in more than four years."What's going to come out of China is a short-term concern for the market, so maybe the ... decline we've seen is not quite enough," said Andrew Slimmon, a Chicago-based portfolio manager at Morgan Stanley Investment Management, which manages more than $400 billion in assets.He said concerns are only near-term and the beginning of earnings season will "remind investors that the U.S. micro story hasn't changed."Traders are indeed more concerned near-term, with the spot price of the CBOE volatility index higher than futures three months down the line. The VIX "fear index" closed Friday at its highest since late September.For others, however, the mood is bleaker."The start of the year is very poor, so that's got investors on the defensive," said Bucky Hellwig, senior vice president at BB&amp;T Wealth Management in Birmingham, Alabama."In the face of weakening global growth," he said, "it's difficult to find reasons to commit money at this point even if one is bullish."strong>NO RESPITE FOR OIL</strongBrent and U.S. West Texas Intermediate crude futures seesawed through the day, settling lower after Wall Street stock prices gave up earlier strength. The two benchmarks hit 12-year lows earlier in the week.Goldman Sachs said in a note on Friday the market needs to see sustained low prices through the first quarter and that producers were not ready to slash output at current prices.Brent crude rose as much as 2.9 percent but was last down 1.2 percent on the day at $33.33 per barrel. WTI fell 1 percent to $32.95 a barrel after gaining more than 3 percent earlier.The benchmark U.S. Treasury yield hit the lowest since late October, reversing an initial rise after the strong jobs data that also showed hourly earnings were unchanged versus expectations of a 0.2 percent increase. Continued safety bids also kept yields from climbing.U.S. 10-year Treasury notes were up 10/32 in price to yield 2.1173 percent, from 2.153 percent late Thursday.The dollar climbed on measures taken by China to ease this week�s market turmoil and on the U.S. payrolls data, but gains were limited by worries over whether Beijing has done enough to calm its battered stock market.The euro was down 0.1 percent against the dollar at $1.0923, while the greenback lost 0.1 percent to 117.52 yen.Spot gold fell for the first time this week but gained more than 4 percent for the week, the most for any week since August.
 The National Assembly (NA) Special Committee on Pakistan International Airlines (PIA) will meet here at the Parliament House on Monday.Federal Minister for Climate Change and Human Rights Zahid Hamid will chair the meeting.The PIA NA Chairman will give a briefing to the committee on the national airlines performance and other issues.The Chairman Privatization Commission would brief the committee on PIA�s restructuring.
 Overseas Pakistani workers remitted $9.735 billion in the first six months (July - December) of Fiscal Year 2015-16, showing a growth of 6.26 percent compared with $9.162 billion received during the same period in the preceding year.During December 2015 the inflow of workers remittances amounted to $1.637 billion which is 2.84 percent higher than that in November 2015 and 0.18 percent higher than that in December 2014, said a statement here on Monday.The country wise details for the month of December 2015 show that inflows from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Countries (including Bahrain Kuwait Qatar and Oman) and European Union countries amounted to $503.2 million, $341.55 million, $212.1 million, $193.72 million, $213.29 million, and $37.14 million respectively compared with the inflow of $499.09 million, $355.24million, $256.08 million, $198.72 million, $191.48 million and $30.57 million respectively in December 2014.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2015 amounted to $136.06 million together as against $102.88 million received in December 2014, the statement added.�
 Pakistan stock Exchange (PSX) has been formally launched after integration of all the three bourses of the country.</strongMinister for Finance Ishaq Dar on Monday inaugurated the PSX, formed after the integration of Karachi, Lahore, and Islamabad, into a single national stock exchange.The operations of Islamabad and Lahore stock exchanges have been integrated into the Karachi Stock Exchange, which has now been renamed as Pakistan Stock Exchange Limited (PSX).Monday marked the first day of trading for the PSX, which was formally inaugurated at a ceremony in Islamabad today.The ceremony was attended by high-ranking government officials, foreign dignitaries along with the international fund managers and high net worth individuals.
 Gold edged higher on Monday, trading close to last session's nine-week high as pressure on Asian stock markets supported safe-haven bids for the metal.</strongAsian share markets swept lower after Wall Street suffered its worst starting week in history and doubts over Beijing's economic competence sent investors into the arms of the safe-haven yen and sovereign bonds.Spot gold rose 0.1 percent to $1,105 an ounce by 0330 GMT. U.S. gold gained 0.7 percent to $1,105.2."We have some supportive factors in the market such as Saudi Arabia-Iran tensions, devaluation of yuan which have prompted safe have appeal of gold," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers Ltd in Hong Kong.Gold climbed to its highest since early November on Friday, adding more than 4 percent to its value this year, on concerns over the Chinese economy and tumbling stock markets.Perceived missteps by China's authorities in controlling their share market and currency have led to concerns Beijing might lose its grip on economic policy too.China will face great difficulty in achieving economic growth above 6.5 percent over the 2016-2020 period due to slowing global demand and rising labour costs at home, the China Securities Journal quoted a top state adviser as saying.Investment appetite for bullion showed signs of picking up last week. Holdings of the world's largest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, rose 4.2 tonnes on Thursday, data from the fund showed.Bullion is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.Gold slid 10 percent last year on fears higher U.S. rates would lower demand for the non-interest-paying asset, while boosting the dollar. A stronger greenback makes dollar-denominated gold costlier for holders of other currencies.Silver rose 0.4 percent at $13.986 an ounce, while platinum lost 0.5 percent at $870.25 an ounce. Palladium was down 1.2 percent to $488.25 an ounce.
 K Electric has filed a petition with the National Electric Power Regulatory Authority (NEPRA), seeking 57 paisa increase in per unit rate under fuel adjustment for the month of November 2015.According to NEPRA, the K Electric has in its petition stated that it supplied a total of 1.21 billion units of electricity during the month of November while the fuel cost born by it rose by Rs700 million for the same month.NEPRA will come to a decision over the K Electric�s petition after conducting a hearing on January 19.
 US crude prices continued a relentless dive early on Tuesday approaching a 20 percent drop since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls.</strongUS crude West Texas Intermediate (WTI) CLc1 were trading at $31.34 per barrel at 0805 GMT on Tuesday, down 7 cents from their last settlement and almost 19 percent lower than at the beginning of the year. WTI has shed over 70 percent in value since the downturn began in mid-2014.Trading data showed that managed short positions in WTI crude contracts, which would profit from a further fall in prices, are at a record high, implying that many traders expect further falls.Analysts also adjusted to the early price rout in the year, with Barclays, Macquarie, Bank of America Merrill Lynch, Standard Chartered and Societe Generale all cut their 2016 oil price forecasts on Monday."A marked deterioration in oil market fundamentals in early 2016 has persuaded us to make some large downward adjustments to our oil price forecasts for 2016," Barclays bank said."We now expect Brent and WTI to both average $37/barrel in 2016, down from our previous forecasts of $60 and $56, respectively," it added.But it was Standard Chartered that took the most bearish view, stating that prices could drop as low as $10 a barrel."Given that no fundamental relationship is currently driving the oil market towards any equilibrium, prices are being moved almost entirely by financial flows caused by fluctuations in other asset prices, including the USD and equity markets," the bank said."We think prices could fall as low as $10/bbl before most of the money managers in the market conceded that matters had gone too far," it added.
 Asian shares made their first real rally of the year on Wednesday after Chinese trade data beat expectations, offering a rare shaft of light for the global economy.</strongJapan's Nikkei jumped 2.6 percent from a near-one-year trough, while battered Australian stocks gained 1.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan sped ahead by 1.6 percent and away from its lowest since late 2011.Even China's mercurial markets found some relief with the Shanghai Composite Index up 0.8 percent and the CSI300 index 0.9 percent.The good cheer spread to E-mini futures contracts for the S&amp;P 500 which climbed 0.8 percent.The gains came after China reported its exports had risen 2.3 percent in yuan-denominated terms in December, from a year earlier while imports dipped 4.0 percent.In U.S. dollar terms, China's December exports exceeded analyst expectations, falling 1.4 pct from a year earlier, while imports fell by 7.6 percent. Analysts polled by Reuters had expected exports to fall 8.0 percent and imports to fall 11.5 percent.While investors harbour suspicions about the reliability of the data, on the surface they offered hope that world trade flows were at least stabilising after a dismal 2015.It also suggested Beijing might prove successful in its increasingly forceful attempts to stabilise the yuan, so dampening fears of a sustained devaluation.All of which galvanised currency markets where the Australian dollar, often used as a liquid proxy for the yuan, was up half a U.S. cent at $0.7036.With safe-haven suddenly out of favour, the Japanese yen and the euro eased broadly. The U.S. dollar moved up to 118.22 yen from an early 117.61, while the euro slipped to $1.0815 from $1.0860.Against a basket of currencies the dollar gained 0.2 percent.Likewise, low-risk sovereign debt had to surrender a little of their recent gains and yields on 10-year paper nudged up 3 basis points 2.137 percent.The hint of firmer demand from China provided a reprieve for commodity prices, which have been under the hammer for months.U.S. crude edged up 44 cents to $30.88 a barrel a day after diving as deep as $29.93 to break the $20 barrier for the first time in 12 years.Benchmark Brent was quoted 31 cents higher at $31.17 a barrel. U.S. crude had fallen 17 percent in just seven sessions, a gift to consumers across the globe but also a strong force for disinflation.
 Brent crude fell to another 12-year low on Thursday as the prospect of more oil supplies from Iran loomed, amid gloom over a world already awash with supply and concerns about global economic growth hitting equity markets.</strongThe global benchmark dropped as far as $29.73, the lowest since February 2004 and down more than 1.5 percent.It was down 26 cents at $30.05 a barrel at 0452 GMT and the contract has fallen every trading day this year.West Texas Intermediate (WTI) was up 5 cents at $30.53 in see-saw trading.US oil is trading at a rare premium to Brent, reflecting the hit that the global benchmark is taking with the prospect of more crude from Iran flowing as sanctions imposed on the country for its nuclear programme may be lifted as early as Friday.It was the second time in two days for Brent, the global benchmark, to drop below $30 a barrel after WTI fell below that mark on Tuesday, before recouping some of the losses."Perhaps $30 or just slightly below is acting as a little bit of a floor, but that being said that�s a straw in a hay barn in terms of positivity," said Ben le Brun, market analyst at�OptionsXpress in Sydney."The rest of the news is decidedly negative about oil," he said.The United Nations� nuclear watchdog is likely to confirm on Friday that Iran has curtailed its nuclear programme as agreed with world powers, paving the way for sanctions to be lifted.
 US crude oil futures fell in Asian trade on Friday, heading lower after posting the first significant gains for 2016 in the previous session, as the prospect of additional Iranian supply looms over the market.</strongWest Texas Intermediate (WTI) was down 48 cents at $30.72 a barrel at 0345 GMT.On Thursday the contract rose 72 cents, or 2.4 percent, to settle at $31.20. It hit a 12-year low of $29.93 earlier this week.WTI is on track to post a third consecutive weekly loss, down more than 6 percent.The contract is down nearly 18 percent from a 2016 high on January 4.Brent crude was down 20 cents at $30.68 a barrel.The global benchmark settled up 72 cents, or 2.4 percent, at $31.03 a barrel on Thursday, after falling to $29.73, its weakest since February 2004.Over the previous eight sessions, Brent had lost about $7 a barrel, almost 20 percent.Western sanctions on Iran are expected to be lifted within days, potentially paving the way for more crude oil exports from the country, under a landmark agreement on Tehran�s disputed nuclear programme."This is three or four months ahead of what the market was thinking last year, so it just adds fuel to the fire," said Tony Nunan, Oil risk Manager, Mitsubishi Corp in Tokyo.Iran has removed the sensitive core of its Arak nuclear reactor and UN inspectors will visit the site on Thursday to verify the move crucial to the implementation of the atomic agreement with major powers, state television said on Thursday.Any additional oil from Iran would add to the glut that has pushed oil prices into a deep slump since the middle of 2014."It is the wrong time for Iran to be returning to the oil market, both for the market and likely also for Iran," Phillip Futures said in a note on Friday."It would have been so much more ideal for Iran to return to the oil scene if prices were soaring at $100," it said.
 Indian Prime Minister Narendra Modi launched a number of initiatives on Saturday to support the country�s start-ups, including a 100 billion rupee ($1.5 billion) fund and a string of tax breaks for both the companies and their investors.India, which already has a handful of new generation success stories, is seeking to encourage more cutting edge technology and other start-ups - supporting new businesses in a country which badly needs to accelerate a still sluggish economic recovery and create millions of jobs as the workforce expands.Modi�s high-profile event in New Delhi - attended by hundreds of investors and entrepreneurs, including the founder of taxi-hailing app Uber, Travis Kalanick - promised a shot in the arm for the sector, with exemptions from tax and compliance inspections for three years."I urge all entrepreneurs to create companies that solve India�s problems and create jobs," he told a packed auditorium in New Delhi, speaking in Hindi."Start-up does not mean a billion dollar company where thousands of people work. It is about employing even 5 people, and developing India."Online companies such as e-commerce marketplaces Flipkart and Snapdeal, along with ride-sharing company Ola, have highlighted the potential for home-grown technology successes in a country best known for capitalising on cheap engineering talent as the world�s back office.However, the push by Modi�s government is the first time Indian policymakers have announced an agenda directly aimed at promoting start-ups and entrepreneurship.Modi unveiled plans for a new 100 billion rupee fund: a structured fund of funds that will invest in venture capital funds over a period of four years, financed by the government and the state-owned Life Insurance Corporation (LIC).He also said start-up companies would benefit from cheaper and faster patent applications, enjoying 80 percent rebates on the cost of patents.A mobile app would allow companies to be set up within a day, he promised.Moreover, they will be exempt from income tax for the first three years in which they make a profit.Their investors could also benefit: recognised funds of funds could see exemptions<br/>from capital gains tax, Modi said.The announcements, at a government-organised conference on start-ups in New Delhi, come months after Modi made a whirlwind tour of Silicon Valley, meeting the chief executives of Facebook Inc, Google Inc and Apple Inc.India, with a rapidly expanding population of Internet users, is seen as one of the world�s fastest growing start-up hotspots.Venture capital funds including Sequoia and Tiger Global have raised multi-billion dollar funds for their Indian investments in recent years.The National Association of Software and Services Companies estimates the number of new companies launched in India grew by 40 percent in the last year.Earlier on Saturday, Japan�s Softbank said it would "seriously" accelerate investments in India, comparing the growth in India�s internet economy to China a decade ago.Softbank had previously said it would invest $10 billion in India over 10 years.WeWork, a New York-based provider of shared office space, used the conference to announce its Indian launch plans.
 Popular burrito chain Chipotle Mexican Grill Inc will close its restaurants for a few hours next month to hold a meeting on food safety with employees, company executives said.Chipotle, which has been plagued by a series of food poisoning outbreaks, will hold the meeting on Feb.8, the executives said at the ICR Conference on Wednesday.Chipotle is confident that steps being taken to tighten food safety will prevent future food poisoning outbreaks, the executives said.�
 Marketing Association of Pakistan (MAP) hosted �Island of Excellence� series seminar which was attended by more than hundred CEOs, Marketing &amp; Advertising practitioners and academia in Karachi.</strongNiaz A. Malik, Deputy CEO, China Mobile Pakistan Limited � ZONG was the keynote speaker. He shared interesting presentation about "ZONG - The Success Story: 4G - The New Paradigm Shift for the Marketers".In the end President of Marketing Association of Pakistan Talib S. Karim presented shield to the Speaker.Program was also attended by S. Masood Hashmi, Muhammad Azfar Ahsan, Lucas Peter, Anis H. Younus and other MAP officials and past presidents.
 International Monetary Fund (IMF) has appreciated the steps being taken by the government of Pakistan for improving the fiscal condition of the country.According to international media, the IMF spokesman welcomed the measures adopted by Pakistan government for improving the country�s financial condition and reducing the domestic borrowings.He noted that steps were also being taken to curtail the budget deficit through fiscal management by ensuring better coordination between the federation and the provinces.The spokesman further also observed that Pakistan�s foreign debt servicing has also improved while the rise in foreign exchange reserves will help bring economic stability.���
 A five-day Pakistan-China Business Friendship Conference began in Islamabad on Monday.The conference has been organized by Ministry of Commerce in collaboration with the Board of Investment and Trade Development Authority of Pakistan.Inaugurating the Conference, Minister for Commerce Khurram Dastgir Khan said improved law and order situation in Pakistan will attract foreign investment.He said meetings between Chinese delegation and traders of Pakistan will promote trade between the two countries. He expressed the hope that the trade volume between the two countries will be increased to thirteen billion dollars this year.The Commerce Minister said China is a major partner and reliable friend of Pakistan.Addressing the Conference, Minister for Planning and Development Ahsan Iqbal said the friendship conference will strengthen trade relations between Pakistan and China.He expressed the hope that forty-six billion dollars Chinese investment on China Pakistan Economic Corridor (CPEC) will go up to hundred billion dollars.The Minister said CPEC will benefit three billion population of the region.The conference is being attended by a hundred member delegations from China heads of Chinese Companies working in Pakistan and prominent traders and businessmen of Pakistan. 
 Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend.</strongThe UN nuclear watchdog on Saturday said Tehran had met its commitments to curtail its nuclear programme, and the United States immediately revoked sanctions that had slashed the OPEC member's oil exports by around 2 million barrels per day (bpd) since their pre-sanctions 2011 peak to little more than 1 million bpd."Iran is now free to sell as much oil as it wants to whomever it likes at whatever price it can get," said Richard Nephew, program director for Economic Statecraft, Sanctions and Energy Markets at Columbia University's Center on Global Energy Policy.Iran is ready to increase its crude exports by 500,000 bpd, its deputy oil minister said on Sunday.In what traders described as a knee-jerk reaction, international Brent crude fell to $27.67 a barrel early on Monday, its lowest since 2003, before recovering to $28.56 by 0208 GMT, still down over 1 percent from its settlement on Friday.US crude was down 27 cents at $29.15 a barrel, after hitting a 2003-low of $28.36 earlier in the session."The lifting of sanctions on Iran should see further downward pressure on oil ... in the short term," ANZ said on Monday."Iran's likely strategy in offering discounts to entice customers could see further downward pressure on prices in the near term," the bank added.Trading data shows that short positions in US crude markets, which would profit from further price falls, have hit a fresh record despite steep recent drops.While this could trigger sudden price jumps once traders close positions to cash in from further drops, it also indicates that many market participants think there is still more downside to prices.Iran's potential new exports come at a time when global markets are already reeling from chronic oversupply as producers pump a million barrels or more of crude every day in excess of demand, pulling down crude prices by over 75 percent since mid-2014 and by over a quarter since the start of 2016.And although analysts expect Iran to take some time before being able to fully revive its export infrastructure, suffering from years of underinvestment during the sanctions, it does have at least a dozen Very Large Crude Carrier super-tankers filled and in place to sell into the market.The oil price rout is also hurting stock markets, with Asian shares set to slide to near their 2011 troughs on Monday, stoking further worries about a global economic downturn."Growth keeps slowing ... Lower commodity prices, including oil, partly reflect weakening demand itself. In addition, the downturn in mining capex and the declining income of commodity producers is weighing on exports from Asia," said Frederic Neumann, co-head of Asian Economics Research at HSBC, Hong Kong.
 Asian stocks rose modestly and crude oil prices nudged up on Tuesday after Chinese GDP figures were mostly in line with expectations.</strongChina's economy grew 6.8 percent in the fourth quarter from a year earlier, the data showed, the slowest growth since 2009. Industrial output in December rose 5.9 percent from a year earlier, compared with forecasts for a 6.0 percent increase.The lack of negative surprises offered the market a slight reprieve following a tumultuous start to 2016 as concerns about China's economic health weighed heavily on global growth prospects."I think that at least the biggest fears about the real economy, fears that came to the surface during the stock market rout...I think those biggest fears were overblown," said Louis Kuijs, head of Asia economics at Oxford Economics in Hong Kong."We don't see signs of an abrupt slowdown, or something getting worse than we had expected say six weeks ago."MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent after earlier touching its lowest level since October 2011.Australian shares added 0.8 percent, while Tokyo's Nikkei dropped 0.3 percent.Volatile Shanghai shares rose 0.2 percent, to pull away from a 13-month low on Monday.In commodities, Brent crude was up 0.9 percent at $28.81 a barrel, pulling away from a 13-year low of $27.67 hit on Monday on worries about the return of additional Iranian crude to an already oversupplied market.International sanctions on Tehran were lifted over the weekend, removing an obstacle to one of the world's biggest oil producing nations.U.S. markets were closed on Monday for Martin Luther King Day.The Australian dollar, often used as a proxy for China-related trades, stood little changed at $0.6859. The Aussie fell to a seven-year low of $0.6827 last week amid a rout in commodity-linked currencies.The dollar nudged up 0.2 percent to 117.55 yen after slipping last week to a 4-1/2-month low of 116.51.The euro was flat at $1.0894 after dipping about 0.2 percent on Monday.
 Gold edged higher on Wednesday as a further fall in equities and oil burnished bullion's safe-haven draw, although the metal was restricted to narrow ranges.</strongstrong>FUNDAMENTALS</strong* Spot gold was up 0.2 percent at $1,088.66 an ounce by 0035 GMT. The metal, while supported by a weaker appetite for risky assets, has faced resistance at around $1,090 with some analysts attributing this to slow Asian physical demand.* U.S. gold for February delivery was flat at $1,088.70 an ounce.* The International Monetary Fund cut its global growth forecasts for the third time in less than a year, as new figures from Beijing showed that the Chinese economy grew at its slowest rate in a quarter of a century in 2015.* Confidence about near-term sales growth among chief executives around the world has fallen to its lowest level in six years as China's economic engine slows and a slump in oil prices signals deep unease about the global outlook.* The U.S. Mint cut its weekly allocation of American Eagle silver bullion coins to 1 million ounces, just a quarter of the 4 million ounces that were rationed and sold last week.strong>MARKET NEWS</strong* Asian shares slipped as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite.* U.S. crude fell to a new low since 2003 at under $28 a barrel after the world's energy watchdog warned the market could "drown in oversupply".
 Battered crude oil prices bounced back from their lows on Thursday, propelling solid gains in Asian shares and the dollar.</strongThursday's gains built on Wall Street's consolidation overnight in which major indexes finished with declines of more than 1 percent, but well off the 3 percent plus they plumbed in the previous session when U.S. crude had dropped to 2003 lows.New front-month U.S. March oil futures fell nearly 4 percent on the day to close at $28.35 a barrel, but they were up 1.2 percent in Asian trade at $28.70, a far cry from the expiring contract on U.S. crude for February delivery, which slid 6.7 percent to settle at $26.55.Brent crude rose 1.4 percent to $28.27 in Asian trade.MSCI's broadest index of Asia-Pacific shares outside Japan extended early gains and was up 1.4 percent while Japan's Nikkei average added 1.5 percent, clawing back some of the 3.7 percent it plunged in the previous session to a 14-1/2 month closing low."Perhaps this stock market rebound comes from the usual suspects: Short-covering and bargain-hunting. However, today's results alone should not be seen as proof of an upward trend," said Hiroki Allen, chief representative of Superfund Securities Japan.China's bluechip CSI300 index was down 0.5 percent in early trade, and the Shanghai Composite Index slipped 0.8 percent.The dollar bounced back from a one-year low against its perceived safe-haven Japanese counterpart. The greenback added about 0.4 percent to 117.38 yen after falling as low as 115.97 on Wednesday, even as it marked impressive gains against some emerging market currencies."It is not your ordinary day in the foreign exchange market when the Russian rouble and the Mexican peso hit record lows while the Hong Kong dollar falls to its weakest level since 1999," said Kathy Lien, managing director at BK Asset Management in New York."Emerging market countries bear the brunt of the selling because the slowdown in global growth and volatility in commodities causes significant economic damage for these countries," she said in a note to clients.U.S. data out on Wednesday undermined the dollar overnight. U.S. consumer prices unexpectedly fell in December, suggesting inflation was more sluggish than the U.S. Federal Reserve believed.Other Wednesday data showed a drop in housing starts and building permits last month, which led investors to pare expectations of further interest rate hikes this year.The euro edged down about 0.2 percent to $1.0870, ahead of the European Central Bank's regular policy meeting later in the session. Expectations are for the ECB to hold interest rates steady but highlight increasing risks to growth and inflation while keeping the door open for further easing steps later this year.
 Oil prices rose for a second session on Friday, moving further away from 12-year lows plumbed earlier this week, as cold US and European weather as well as firmer financial markets gave some traders reason to cash in on record short positions.</strongWhile benchmark crude futures on both sides of the Atlantic were poised for their first weekly gain this year, analysts cautioned the price rally was unsustainable given soaring inventories amid persistent overproduction.US West Texas Intermediate (WTI) crude futures were up 17 cents at $29.70 per barrel at 0206 GMT, around $3.50 away from a 12-year low of $26.19 hit earlier this week. Prices were headed for a 1 percent weekly rise.WTI prices could test a resistance at $30.85 based on a Fibonacci retracement measured from the downtrend between Jan. 4-20, said Reuters technical analyst Wang Tao.International benchmark Brent was up 24 cents at $29.49 per barrel, off a 12-year low of $27.10 and set for a 2 percent gain for the week.Oil prices drew support from freezing weather conditions and snowstorms that have gripped the US East Coast and parts of continental Europe like Germany, lifting demand for heating oil. However, meteorological data in Reuters shows that the current cold snaps will likely to be short-lived.The cold weather in North America and Europe follows an extremely mild start to the winter in large parts of the northern hemisphere that had led to weaker-than-usual demand for oil, exacerbating a plunge in prices earlier this year.Traders said that a lot of people with open short positions in the market, which profit from falling prices, had decided to cash in when prices plunged 30 percent between the beginning of the year and the middle of this week. They have now flipped into buying at low costs, lifting oil futures."More stable global markets are likely to see speculative buying re-emerge in commodities that have suffered heavy losses in recent weeks. However, these rallies are likely to remain short-lived," ANZ bank said.Analysts said the fundamental reason for low oil prices remained unchanged, with producers around the world pumping over 1 million barrels of crude every day beyond demand, leaving storage tanks brimming.US crude inventories rose 4 million barrels in the last week, compared with analyst expectations for an increase of 2.8 million barrels, according to the U.S. Energy Information Administration (EIA)."At 486.5 million barrels, US crude oil inventories remain near levels not seen for this time of year in at least the last 80 years," the EIA said.
 Crude oil futures extended gains on Monday following a surge at the end of last week on short-covering and fuel demand triggered by freezing weather in parts of the northern hemisphere.</strongOil prices soared 10 percent on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over.Brent had gained 8 cents to $32.26 a barrel by 0221 GMT after touching $32.69 a barrel earlier in the day. It settled at $32.18 a barrel in the previous session.U.S. crude rose 5 cents to $32.24 a barrel, compared with its session-high of $32.64 and previous settlement at $32.19."A change in investor sentiment was the key factor, with speculative short positions in WTI falling from historically high levels the previous week," ANZ said in a note on Monday, referring to U.S. West Texas Intermediate crude."Low crude oil prices continue to negatively impact high cost U.S. oil producers. Indeed, recent Baker Hughes data suggested U.S. oil explorers idled more oil rigs this week."Reuters market analyst for commodities and energy technicals Wang Tao said on Monday that Brent oil faces resistance at $32.72 per barrel, and may hover below this level for one day or retrace to support at $30.98, before rising again.A massive snowstorm on the U.S. East Coast helped stoke demand for oil for heating, helping push up crude prices. While New York and Philadelphia were getting back to business, Washington was not ready after an historic storm dumped more than 20 inches (51 cm) of snow on the city and nearly three feet (1 metre) in surrounding areas.Asian stocks gained early on Monday, relieved after seeing Wall Street rally on the back of a sharp rise in crude oil prices. The dollar was steady at 118.75 yen after surging 0.9 percent on Friday, when it touched a two-week peak of 118.88.
 Asian stocks moved further away on Monday from four-year lows struck last week, as the blizzard on the US East coast pushed oil prices higher, relieving some of the bearish pressure on Wall Street and world markets.</strongGlobal equities also took heart from the European Central Bank signalling last week additional monetary easing steps to come, raising hopes that other central banks, like the Bank of Japan, would take the same path.MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 percent, putting further distance between a four-year low plumbed last week.Shanghai stocks added 0.9 percent, Tokyo's Nikkei rose 1.1 percent and Australian shares advanced more than 1 percent to a 10-day peak."The latest rebound in oil, combined with European and Japan central bank's hinting at further stimulus, has provided a short-term reprieve for what so far this year, can be described as a nervous and punishing market," said Gary Huxtable, client adviser at Atlantic Pacific Securities.On Friday, the S&amp;P 500 rose 2 percent and the Dow added 1.3 percent Friday as a cold snap in North America and Europe caused a rally in oil prices. The S&amp;P energy sector surged 4.3 percent.Both the Federal Reserve and Bank of Japan hold policy meetings this week, with the Fed meeting on Jan. 26-27 and the BOJ meeting immediately after, on Jan. 28-29.Investors will look for any hints of when the Fed intends to make a second interest rate hike, while there is speculation that the BOJ could opt to take additional easing measures."We expect no action from the Fed or BOJ, although investors will be looking for a more dovish forward bias as the renewed decline in oil prices lowers inflation expectations globally," wrote strategists at Barclays.Risk aversion amid fears of a China-led global slowdown and oil prices sinking to 13-year lows had rocked global markets at the start of the year, and the lull in flight-to-quality seen towards the end of last week weighed on safe havens like U.S. Treasuries and the Japanese yen.The benchmark 10-year Treasury yield US10YT=RR nudged up to 2.05 percent after rising to as high as 2.089 percent on Friday, the highest in a week.The dollar was steady at 118.795 yen after surging 0.9 percent on Friday, when it touched a two-week high of 118.88. The euro was little changed at $1.0801 after losing 0.8 percent on Friday.The Australian dollar, sensitive to the ebb and flow in risk appetite and fluctuations in commodity prices, traded at $0.7002 after touching a nine-day high of $0.7046 on Friday.Crude, recently under pressure from a global glut, jumped percent as harsh winter weather on the U.S. East coast boosted demand for heating oil. U.S. crude climbed 9 percent and Brent LCOc1 bounced 10 percent on Friday.U.S. crude was last up 0.3 percent at $32.29 a barrel. The contracts had descended to as low as $26.19 last week, their lowest since May 2003. Brent crude rose 0.2 percent at $32.24 a barrel.
 Gold climbed to a two-week high on Tuesday as falling equities burnished bullion�s safe-haven draw, and the dollar also came under pressure as the Federal Reserve meets against a backdrop of a slowing global economy.</strongRisk appetite soured again as equities and crude oil resumed their decline, boosting gold demand.Spot gold touched a session peak of $1,111.26 an ounce, its loftiest since Jan. 8, and was up 0.3 percent at $1,110.86 by 0313 GMT."Gold might go for a run," said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore, adding the metal can test $1,138, a level last reached in November."If that is breached, it could go to $1,160."U.S. gold for February delivery rose 0.6 percent to $1,111.50 an ounce.Indications that a wobbly global economy may limit the opportunity for the U.S. Federal Reserve to raise interest rates this year also supported gold.The Federal Open Market Committee starts a two-day policy meeting later on Tuesday, and is widely expected to leave its federal funds rate unchanged at 0.25-0.50 percent.The probability of another rate increase at the next Fed meeting in March has eased, with some analysts seeing it postponed to later in the year.That puts downward pressure on the dollar and benefits gold, which has gained nearly 5 percent so far this year after declining in 2015 for a third year in a row.At this week�s meeting, it is likely that "the Fed will reiterate its dovish stance and this should push gold prices up", INTL FCStone analyst Edward Meir wrote to clients.Meir said the poor shape of the U.S. equity market shows "a major capitulation will be needed in order to clear out much of the selling", suggesting investors should keep a bullish gold bias in the near term.Spot platinum was down 0.3 percent at $855.74 an ounce, but well off last week�s seven-year trough of $806.31.Platinum is forecast to average less than $1,000 an ounce in 2016 for the first time in more than a decade as global growth concerns and demand fallout from the Volkswagen scandal grip the market, a Reuters poll showed.Spot palladium slipped 0.3 percent to $488.50 an ounce and silver gained 0.2 percent to $14.27.
 Asian shares pushed back into the black on Thursday as investors dipped their toes back into equities and demand for safe haven assets such as the yen and sovereign bonds faded.</strongA bounce in oil prices offered some salve to strained nerves. While Brent crude was off 23 cents at $32.87 a barrel, this followed a 4 percent jump on Wednesday after Russia hinted at co-operation with OPEC on oversupply.U.S. crude eased back 21 cents to $32.09.After starting weaker, MSCI's broadest index of Asia-Pacific shares outside Japan swung 0.4 percent firmer in very choppy trade.Likewise, Japan's Nikkei turned 0.3 percent higher having been down more than 1 percent at one stage. Shanghai's Composite Index was just a whisker lower.The initial losses followed a poor finish on Wall Street, though dealers noted E-Mini futures for the S&amp;P 500 had since rebounded by 0.65 percent.The Dow had ended Wednesday with losses of 1.38 percent, while the S&amp;P 500 fell 1.09 percent and the Nasdaq shed 2.18 percent.Apple's shares fell 6.57 percent after the iPhone maker reported its slowest-ever rise in shipments, while Boeing lost 8.9 percent in its biggest fall since August 2011.The blame for Wall Street's fall was laid at the door of the Federal Reserve, with investors apparently frustrated the central bank was not concerned enough about the global outlook to scale back its plans for policy tightening.Rather, the Fed left all options open, including a hike at the next meeting in March."We have no doubt that the market was looking for a 'Fed put' via some commentary about the committee growing increasingly nervous about financial markets and the global backdrop," wrote Tom Porcelli, chief U.S. economist at RBCCM."Instead, the Fed chose the pragmatic route."The reaction to the Fed in currency markets was much more muted. The dollar gained on the safe-haven yen to 118.88, while the euro was sidelined at $1.0883.Against a basket of currencies, the dollar edged up 0.12 percent.The New Zealand dollar fell more than half a U.S. cent after the Reserve Bank of New Zealand said low inflation meant further policy easing may now be required, having previously flagged that it would not cut rates further.The kiwi dollar fell to $0.6428, from around $0.6480.There is little in the way of market-moving economic data out of Asia. In Europe, Britain's fourth-quarter growth data looms large for the embattled pound.Annual economic growth is expected to have slowed to 1.9 percent, from 2.1 percent, an outcome that could push expectations for a hike in interest rates even further out. Markets are currently pricing in a rate hike in 2017.Sterling was last at $1.4256, having retreated from this week's high of $1.4367.
 The total liquid foreign exchange reserves held by Pakistan have declined by 109 million dollars to 20.50 billion, said State Bank of Pakistan (SBP) on Thursday.�SBP�s weekly statement here on Thursday said that the foreign reserves held by State Bank on January 22 were dollars 15.65 billion and the net foreign reserves with other banks stood at dollars 4.855 billion.�During the week ending Jan. 22 SBP�s liquid foreign reserves decreased by 105 million to 15.647 billion compared to 15.752 billion in the previous week.�Over the week SBP made payments of dollars 109 million on account of the external debt servicing.
 Pakistan International Airlines (PIA) has lost Rs500 million due to the ongoing strike by its employees.</strongA spokesperson for the PIA said that passengers apprehensive of flight delays were not purchasing tickets of the national flag carrier.Expenditures of PIA were increasing day by day and it had to face losses due to shattered confidence on the part of the passengers, the spokesperson said, adding that travel agents were also advising passengers to buy tickets of other airlines to avoid any inconvenience.The spokesperson added that the employees have threatened to close operations if their demands were not met.
 Prime Minister Nawaz Sharif has announced Rs5 per litre cut in petroleum product prices with effect from February 01.</strongThe Premier announced reduction in the prices of petrol, diesel and kerosene while talking to media here Saturday after holding condolences with Mian Amir Mehmood on the sad demise of his father at his residence in Model Town.PM Nawaz stressed the need for accelerating implementation on some clauses of National Action Plan (NAP).He said Karachi has witnessed noticeable improvement in law and order situation after launch of operation against miscreants.Nawaz Sharif added it was Pakistan's own initiative to defuse tension between Iran and Saudi Arabia.It may be noted here that the Oil and Gas Regulatory Authority (Ogra) has recommended to the government to make a big cut in oil prices, hinting that in the international market its prices may go further down in the wake of increased oil supply, as Iran is also going to join the international market after lifting of sanctions on it.The authority has recommended Rs7.56 per litre reduction in petrol which is widely used in cars and motorcycles owned by middle class commuters. The price of high-speeddiesel (HSD), mostly used in mass transportation and agriculture, could also be cut by Rs11 per litre (13.6 per cent). The price of light diesel oil (LDO), an industrial fuel, may be cut down by Rs8.17 per litre.
 The Oil and Gas Regulatory Authority (OGRA) on Sunday issued a notification, reducing the prices of petroleum products by Rs5 per litre effective from 12 AM Monday.</strongAccording to the notification, after the reduction the new price of petrol has been fixed at Rs71.25 a litre; High Speed Diesel Rs75.79; High Octane Blending Component (HOBC) Rs75.66 and light diesel Rs39.95 a litre.Prime Minister Nawaz Sharif on Saturday made the announcement that the government is bringing down the prices of all the petroleum products by Rs5 from February 1.
 Pakistan�s annual consumer inflation rate rose to 3.32 percent in January from 3.19 percent in December, the Bureau of Statistics said on Monday.</strong"The year-on-year inflation increased mainly due to an increase in food prices," said Asif Bajwa, the bureau�s chief statistician.On a month-on-month basis, prices rose by 0.21 percent in January from December.The average annual inflation rate for July-January 2015/2016 over July-January 2014-15 was 2.26 percent.On Saturday, State Bank of Pakistan announced that it was leaving the benchmark interest rate unchanged at 6 percent.Consumer inflation is expected to remain between 3 percent and 4 percent in the current fiscal year, central bank chief Ashraf Mahmood Wathra said while making the monetary policy announcement.
 Asian stocks started a new month on a cautious note on Monday, with the Bank of Japan's surprise policy easing sparking some buying but further signs of economic weakness in China and a fall in oil prices keeping investors on guard.</strongThe greenback continued to benefit from the growing monetary policy divergence between the U.S. and its counterparts in Europe and Asia while bonds, especially investment grade debt, received a boost after Japan's surprise decision to introduce negative interest rates last week.MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, after losing 8 percent in January.Australia and Japan leading regional markets with gains of more than 1 percent each, while Chinese stocks slipped in early trade."In the short term, the surprise move by Japan will be a catalyst for global equities but it only underlines the weakness of the global economy and we need to see some strong economics data for a sustainable rally," said Cliff Tan, head of global markets research with Bank of Tokyo-Mitsubishi UFJ.Monday's batch of economic data from China added to worries about the health of the world's second-largest economy and only increased calls for more policy easing from China.Activity in China's manufacturing sector contracted at its fastest pace in almost three-and-a-half years in January, missing market expectations, while growth in the services sector slowed, official surveys showed on Monday."As deflationary pressures remain high, further reserve requirement cuts are still needed to support the slowing economy and permanently inject liquidity into the market," ANZ strategists wrote in a note. They expect a total of 200 basis points of cuts this year with a 50 basis points cut coming in the first quarter."In fact, refraining from further easing could risk an even weaker economy, which will then intensify depreciation expectation and capital outflows."The Shanghai Composite Index eased 0.8 percent in early trade, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.6 percent. January was the worst monthly performance for the Shanghai market since the 2008 crisis with more than a 10 percent loss.The Bank of Japan said it would charge for a portion of bank reserves parked with the institution, an aggressive policy pioneered by the European Central Bank (ECB). Earlier in January, the ECB indicated it could cut rates further in March."The fact that both the BOJ and the ECB suddenly showed additional easing stance after the markets' rout suggests policymakers in Japan and Europe share concerns and take actions," Masafumi Yamamoto, chief currency strategist at Mizuho Securities, said.In contrast, the U.S. Federal Reserve has so far stuck to the script that it will gradually raise interest rates this year even though bets have been pared back with Federal Fund rate futures pricing in barely one hike this year.Elsewhere, fixed income markets cheered a fresh round of policy easing from a major global central bank with investment grade debt in Asia ending a torrid January on a high note.In government debt, the rate-sensitive U.S. two-year yield fell to a three-month low of 0.766 percent on Friday before bouncing somewhat to 0.779 percent.The U.S. 10-year debt yield fell to 1.93 percent, edging near a double-bottom around 1.90 percent made in August-October, also helped by speculation Japanese investors will go after U.S. bonds as local bond yields plunge.On Monday the 10-year Japanese government bond yield hit a record low of 0.050 percent while the two-year yield hit a record minus 0.100 percent.Negative interest rates pressured the yen, which traded briefly at 121.38 to the dollar, near six-week low of 121.70 touched on Friday.The euro was steadier at $1.08440.Oil prices fell, with international benchmark Brent sliding 1.8 percent to $35.35 per barrel.Still, oil has bounced more than 30 percent from a 12-year low hit less than two weeks ago, taking some pressure off reeling global equity markets but that bounce is proving to be fleeting.A 19-commodity Thomson Reuters/Core Commodity CRB Index, a global benchmark for commodities edged higher and up more than 8 percent from a 13-year low hit in late January.
 Gold edged to a three-month high on Tuesday as weak global manufacturing activity underscored the challenges for the world economy, pushing investors towards safe-haven assets.</strongIncreased volatility in other assets has benefitted gold and it could see more gains as global central banks may be forced into easing monetary policy further this year to spur growth.With rates close to zero, the "only option is to move either towards zero or negative rates as the Japanese and selected European countries are already doing in a desperate attempt to force banks to lend", INTL FCStone analyst Edward Meir wrote to clients."Whatever the case, this should be constructive for gold."Spot gold touched $1,130.11 an ounce, its strongest since Nov. 3, and was trading down 0.2 percent at $1,126.55 by 0226 GMT.A break above $1,136 could lift gold towards $1,157, a level reached in late October, said ScotiaMocatta technical analysts.U.S. gold for April delivery was flat at $1,127.30 an ounce.Reflecting growing confidence in gold, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose to 21.9 million ounces on Monday, the most since Nov. 3.Global manufacturing expansion accelerated slightly but remained weak at the start of 2016 as faster growth in developed markets failed to offset a contraction in emerging economies. In China, a gauge of factory activity fell to its lowest since mid-2012.The U.S. economy could suffer if recent volatility in financial markets persists and signals a slowdown in the global economy, Federal Reserve Vice Chairman Stanley Fischer said.Gold is typically the asset of choice in times of uncertainty. It posted its best monthly jump in a year in January, and has gained more than 6 percent so far in 2016, after falling 10.4 percent last year.The Fed's statement last week that it will closely monitor the global economy and financial markets lifted gold to near $1,130, as it underlined expectations that U.S. policymakers may take it slow in raising interest rates this year."Weaker macro numbers out of the U.S. are also increasing the odds that the Fed's December move could have been an outlier, forced onto a central bank that basically had to move after promising to do so for much of the last year," said Meir who sees only one U.S. rate hike this year.Spot platinum fell 1 percent to $860.85 an ounce, palladium was steady at $500.16 and so was silver at $14.31.
 The International Monetary Fund said on Thursday it had agreed to release a $497 million tranche for Pakistan after the latest review of a bailout package awarded in 2013, though the disbursement still requires IMF board approval.</strongOnce the latest disbursement is made, the IMF will still have to release $1.1 billion of the total $6.7 billion loan agreed three years ago."After constructive discussions, the mission and the Pakistani authorities have reached staff-level agreement on the completion of the tenth review under the EFF (Extended Fund Facility) arrangement," the IMF said in a statement.APP adds:�Minister for Finance, Senator Ishaq Dar Thursday said that Pakistan has for the first time successfully completed 10th Review with International Monetary Fund (IMF)."Pakistan was on the path of economic trajectory with all indicators showing economy moving in the right direction," he said while addressing a joint press conference with IMF Country Director, Herald Finger in Dubai.Ishaq Dar said that the government has initiated structural economic reforms during its two and half year in office which were showing positive results. ��
 Crude oil futures steady in lacklustre trading on Friday as Asian liquidity faded ahead of the Lunar New Year holiday across large parts of the region.</strongInternational benchmark Brent crude futures were trading at $34.50 per barrel at 0426 GMT, up 4 cents from their last settlement. U.S. crude futures were up 8 cents at 31.80 a barrel.Traders said liquidity was low due to the Lunar New Year holiday which will last for most of next week.Oil prices have been extremely volatile since the start of the year, and in particular this week, as a string of bullish indicators like a slump in the dollar and potential talks on output cuts clashed with bearish reports of record U.S. crude inventories, higher output and a slowing global economy."Volatility should remain elevated with the trade-weighted U.S-dollar, headlines and macro concerns continuing to drive oil prices," Morgan Stanley said on Friday.BMI Research, a unit of rating agency Fitch Group, said on Friday that "bloated crude inventories in the U.S. pose rising risk to WTI" and that "a continued build in storage over the coming six to eight weeks could collapse the price of WTI, driving a sharp reopening of the spread to Brent."U.S. crude inventories climbed 7.8 million barrels in the week to Jan. 29 to 502.7 million barrels. Gasoline inventories rose to a record high, soaring 5.9 million barrels to 254.4 million barrels.Brimming storage is contributing to an overall bearish market outlook as long as major producers don't reach an agreement on output, with China's economic slowdown now showing signs of spreading across the world.Commodities brokerage Marex Spectron said that "the macroeconomic environment is bearish. Global industrial production, manufacturing and automotive demand indices all point towards weakening demand.""Rebalancing will take longer, keeping prices low ... We see the low price regime persisting until 2Q17," Morgan Stanley said.
 Asian shares got off to a rocky start on Monday after mixed U.S. jobs data helped sink shares on Wall Street, but trade was thin with many regional markets closed for the Lunar New Year holiday.</strongMSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, with Australian shares slipping about the same amount.Japan's Nikkei pared early steep losses, helped by a weaker yen, but it also was down 0.2 percent by midday."We didn't get much clues on future U.S. rate hikes from the jobs report, so investors are having hard times deciding their positions," said Takuya Takahashi, a strategist at Daiwa Securities."Japanese companies' earnings reports are not helping sentiment, either, so the market may stay sluggish for a while."U.S. nonfarm payrolls increased by just 151,000 jobs last month, falling well short of expectations for a rise of 190,000.But the unemployment rate fell to 4.9 percent, the lowest since February 2008, and wages rose, indicating some signs of underlying strength in the labour market despite the weak headline figure.With Singapore, Hong Kong and mainland China all closed for the new year holiday, "volumes will be well below average and there tends to be a build-up of global leads that is released once Asian investors return to their desk � expect 'release valve trading late in the week," Evan Lucas, market strategist at IG in Melbourne, wrote in a note to clients.Markets in China, a focus of recent market concern, will be closed for the entire week for the holiday.Data released over the weekend showed China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows.Beijing has been struggling to underpin the yuan, which faces depreciation pressure as China's growth rate slows to its lowest levels in a quarter of a century."Just as China's persistent accumulation of foreign reserves in the first decade of the 21st century signalled that its managed currency was undervalued, its persistent loss of foreign reserves signals that the yuan has become overvalued by market criteria," economist Bill Adams at PNC Financial Services Group said in a research note."There is a large probability that China's central bank tires of spending its foreign reserves to defend an overvalued currency in the near future. The People's Bank of China will likely widen the currency's trading bank and permit a larger managed slide against the dollar in coming months."Also over the weekend, North Korea's launch of a long-range rocket drew international condemnation.On Wall Street, major U.S. indexes logged both daily and weekly losses. The Nasdaq Composite led session losses, plunging 3.25 percent after a spate of disappointing forecasts from the technology sector.Recently weak U.S. economic data has led investors to pare bets on a steady pace of interest rate increases by the Federal Reserve.Speculators slashed bullish bets on the U.S. dollar for a sixth straight week through Feb. 2, as net longs fell to their lowest level since roughly the third week of October, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday.In currency markets, the dollar index which tracks the greenback against a basket of six major rivals, edged up 0.1 percent to 97.131, well above a nadir of 96.259 plumbed last Thursday, its lowest since October.The dollar rose about 0.4 percent to 117.26 yen moving away from Friday's 2-1/2 week low of 116.285 in a week in which it logged a 3.6-percent slide, its biggest weekly drop since July 2009.The euro edged down about 0.2 percent to $1.1135 though it remained in sight of Friday's three-month high of $1.1250 scaled immediately after the headline figure of the payrolls data led investors to reduce their bets on further Fed rate hikes.The Australian dollar added 0.3 percent to $0.7081 after plunging nearly 2 percent against its U.S. counterpart on Friday.Crude oil futures edged higher, against a backdrop of hope for steps by oil producers to address the global supply glut that has led to recent steep selloffs.Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilise the global oil market with his Venezuelan counterpart on Sunday, according to state news agency SPA.But nothing was decided, so wariness kept gains in check. Brent crude LCOc1 was up about 0.2 percent at $34.11 a barrel, while U.S. crude futures CLc1 added about 0.2 percent to $30.94.
 World Bank Group President Jim Yong Kim on Tuesday underlined the need for investing in people to make Pakistan a successful economy of the world.�Providing best education and health care facilities to the people would help them offer good performance in every field of life for the economic growth of the country,� he said while addressing a meeting held here on Tuesday.Finance Minister Mohammad Ishaq Dar Minister for Planning Development and Reforms Ahsan Iqbal federal ministers and other senior officials of the government attended the meeting.He quoted from sayings of founder of the nation Quid e Azam Muhammad Ali Jinnah of �Unity, Faith and Discipline� and self devotion to duties, adding that if these principles were followed Pakistan could become next great success story.The WB President said Pakistan was passing through a critical phase of development and the government could play a historical role in the development of the economy during next two years.He stressed the need for investing in people specially in early childhood education and provision of health facilities to further boost economic growth in the country.He said private sector of any country could play vital role in the economic development and Pakistan should also strengthen its private sector by providing incentives to the sector.Kim said Pakistan was now on the right track and it could become the next great success story of the world.He said the World Bank was ready to offer its experience to Pakistan for making a sustainable growth.He said every country needed to take tough decisions and undertake structural reforms to consolidate its economy. Pakistan should do the same, he added.Due to good policies of the government, Pakistan has survived from being bankrupt, he remarked.Finance Minister, Ishaq Dar in his welcome remarks said due to prudent reform initiatives of the government the tax to GDP ratio had risen from 8.5 percent to 10 percent while the revenues had registered 18.2 percent growth.�We are on the track and economic indicators are showing improvement,� he added.Ishaq Dar further said that GDP growth in fiscal year was 4.24 percent which was the highest in seven years and it would be further increased to 5 percent in current financial year.Fiscal deficit he said would be brought down to 4.3percent in the current fiscal year.He also informed that for Benazir Income Support Program (BISP) allocations had been increased three times.Dar said previous governments did not give proper attention on energy generation which created energy crisis in the country.He added the government had initiated a number of energy projects and by 2018 10 000 MW more electricity would be added in the system.Ahsan Iqbal on the occasion highlighted the government�s vision 2025 initiated for the benefit of the country and its people.He said that China Pakistan Economic Corridor (CPEC) had been initiated at a cost of US 46 billion which would be a game change not only for Pakistan but the entire region.
 Pakistan has officially kicked off its Kinnow export two months ahead; the government has set an export target of 400,000 tonnes for 2015-16 which is 100,000 tonnes higher than the export target for the previous season.</strongHowever, growers and exporters warn this year that Kinnow production is sub-par and that there is a very likely possibility that the target will be missed by a long shot.Former FPCCI Chairman Standing Committee Ahmad Jawad said the low export quality yield in the ongoing season would keep Pakistan away from the opportunity to fill the gap created by the Russian ban on the import of Turkish oranges after the recent events in the Middle East.He said if government doesn�t use preventive measures then Kinnow export will be squeezed further in next two to three years.
 World Bank President Jim Yong Kim says Pakistan is well poised to become the next fast growing successful economy due to the steps taken by the government over the past few years.</strongAddressing a meeting on the country�s economic performance here on Tuesday, he pointed out the country has made significant progress to achieve micro-economic stability.He said the government has introduced reforms in the tax system to enhance revenue.World Bank President said the country has also undertaken good steps to improve business climate.
 The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said.</strongThe agency, which coordinates energy policies of industrialised countries, said that while it did not believe oil prices could follow some of the most extreme forecasts and fall to as low as $10 per barrel, it was equally hard to see how they could rise significantly from current levels.The Paris-based IEA trimmed its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day (bpd) following a five-year high of 1.6 million in 2015.It cut its call on OPEC crude for 2016 by 100,000 bpd to 31.7 million bpd. That figure is much lower than OPEC's January output of 32.63 million bpd."Persistent speculation about a deal between OPEC and leading non-OPEC producers to cut output appears to be just that: speculation. It is OPEC's business whether or not it makes output cuts either alone or in concert with other producers but the likelihood of coordinated cuts is very low," the IEA said.Oil prices collapsed over the past 18 months to below $30 a barrel from as high as $115 as OPEC opened its taps to drive higher-cost producers such as U.S. shale companies out of the market.Low oil prices have spurred global demand but it was not enough to absorb all crude produced. As a result, unwanted oil went into storage, leading to record global stockpiles of over 3 billion barrels.U.S. shale oil output has started to decline because of low prices and OPEC has said it sees the market rebalancing sometime later in 2016 when demand finally meets supply.But the IEA said supply may still exceed demand throughout the whole of 2016 and added it saw non-OPEC output falling by just 0.6 million bpd in 2016."The number could be higher of course and many senior international oil company figures have said so but there is a lingering feeling that the big fall-off in production from U.S. shale producers is taking an awful long time to happen. Perhaps resilience still has some way to go," the IEA said.The agency also said it saw the dollar remaining strong as it benefits from its safe-haven status, meaning more downward pressure on oil prices.With weaker global oil demand, likely new gains in Iraqi, Iranian and Saudi output, low chances of an OPEC deal, resilient U.S. production and a strong dollar - the IEA said the global oil glut was only poised to worsen.It said that even if OPEC production remained flat, global stocks would build by 2 million bpd in the first quarter, followed by a 1.5-million-bpd build in the second quarter."Supply and demand data for the second half of the year suggests more stock building, this time by 0.3 million bpd. If these numbers prove to be accurate, and with the market already awash in oil, it is very hard to see how oil prices can rise significantly in the short term. In these conditions the short-term risk to the downside has increased.�
 Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.</strongTuesday would mark gold's eighth straight day of gains as investors seek safe havens in the face of instability in other financial markets, although liquidity was slow in Asia with China shut for a week-long Lunar New Year holiday.Spot gold was up 0.2 percent at $1,193 an ounce by 0250 GMT. The precious metal rose as high as $1,200.60 on Monday, its strongest since June 22 last year.If gold sustains its gains later on Tuesday, it would be its longest rally since an 11-day run in July 2011."While it's quite clear that one of the drivers here is a weaker U.S. dollar, it does appear that risk appetites are diminishing and that of course means more demand for gold," said Michael McCarthy, chief market strategist at CMC Markets in Sydney."It's not impossible we could see another touch of $1,200, some consolidation and then potentially a move higher if current conditions prevail."The dollar briefly crashed through the 115-yen level to its lowest since November 2014 as a selloff in European and U.S. stocks continued into the Asian session, spurring demand for the Japanese currency, another safe haven.Bullion gained 5 percent last week, its biggest such increase since July 2013, boosting gold bulls' expectations that the price can go higher as global headwinds could make it tough for the U.S. Federal Reserve to raise interest rates this year.U.S. gold for April delivery was off 0.3 percent at $1,194 an ounce.Underlining gold's rising draw, holdings in eight major gold exchange-traded funds (ETFs) rose to 43.3 million ounces on Friday, the highest since July 2015.More significant was the rapid pace of inflows since the start of the year, having risen more than 8 percent and the biggest five-week surge since March 2011."We remain quite upbeat on gold's prospects over the short-term given the continued unease surrounding the global equity markets, the weaker dollar and gold's much stronger technical profile," INTL FCStone analyst Edward Meir said in a note.The next stop for gold could be $1,205/$1,215 and further to $1,235, said Meir.Spot silver rose 0.6 percent to $15.39 an ounce, near Monday's three-month high of $15.46. Platinum gained 0.5 percent to $925.80 an ounce, also near a three-month peak of $931.76 reached overnight. Palladium slipped 0.5 percent to $510.52 an ounce.
 Overseas Pakistani workers remitted 11.2 billion dollars in the first seven months (July - January) of FY 2015-16, showing a growth of 6 percent compared to 10.566 billion received during the same period in the preceding year.</strongDuring January 2016 the inflow of workers remittances amounted to 1462.87 million dollars which is 10.64% lower than December 2015 and 4.21% higher than January 2015.The country-wise details for the month of January 2016 show that inflows from Saudi Arabia, United Arab Emirates (UAE), United States of America (USA), United Kingdom, GCC countries including Bahrain, Kuwait, Qatar, and Oman and European Union countries amounted to 462.18 million, 313.32 million, 179.56 million, 172.53 million, 190.38 million and 28.64 million respectively as compared to the inflow of 452.81 million, 289.79 million, 197.39 million, 178.4 million, 162.31 million and 25.85 million respectively in January 2015.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during January 2016 amounted to 116.26 million together as against 97.19 million received in January 2015.
 The Pakistan International Airline (PIA) on Wednesday announced reduction in domestic and international fares.</strongPIA spokesman Danyal Gilani said that PIA has reduced Umrah fares by Rs4000. The PIA has also reduced Islamabad-Karachi fares to Rs7500 from Rs9,000.He went on to say that 10 percent reduction has also been made on international flights including London, Manchester, New York, Pairs, Oslo and Toronto routes.
 Pakistan and Qatar have signed four agreements and Memorandum of Understandings (MoUs) to increase cooperation in diverse fields between the two countries.</strongPrime Minister Nawaz Sharif and Emir of Qatar Sheikh Tamim bin Hamad bin Khalifa Al Thani witnessed the signing ceremony held in Doha on Wednesday.The most important agreement signed today is regarding import of LNG from Qatar. It was signed by Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi and Chairman of Qatar Gas.Under the agreement Pakistan will import 3.75 million tons of LNG annually from Qatar which will fulfill 20 percent need of Pakistan.MoUs for enhancing bilateral cooperation with Qatar in Radio and TV, education, health and academic research were also signed.
 Asian stocks dipped early on Wednesday amid growing concerns about the health of the global banking sector, particularly in Europe, while the safe-haven yen stood near a 15-month high versus the dollar.</strongMSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent.Australian stocks dropped 2.3 percent, stooping to a 2-1/2-year trough. Japan's Nikkei, which sank more than 5 percent Tuesday, extended losses to hit a 16-month low. It was last down 2.1 percent.Equity markets remained wobbly after being hit hard early in the week by worries about the health of the euro zone banking sector, with very accommodative monetary policy seen crimping bank profits and their ability to repay debt.Trouble for equities has meant a boon for government bonds, with the Japanese government bond 10-year yield at minus-0.035 percent after dropping into the negative for the first time on Tuesday. The U.S. Treasury benchmark yield stood near a one-year trough and the 10-year German bund yield was at its lowest in 10 months.The yen and Swiss franc, often sought in times of financial market turmoil, have also received strong boosts this week. The dollar traded at 114.74 yen after sinking to a 15-month low of 114.205 overnight. The greenback traded close to 0.9695 franc, a four-month low touched on Tuesday."Concerns about European banks are contributing to the risk off mood in markets. In addition, U.S. data this month has been weak and Fed officials appear to be toning down on rate hikes," said Shinichiro Kadota, chief FX strategist at Barclays in Japan.The euro was flat at $1.1298 after scaling a four-month high of $1.1338 overnight on the dollar's broader weakness.After a tumultuous start to the week, markets looked to Federal Reserve Chair Janet Yellen's congressional testimony later in the session for fresh cues on the policy outlook, which may provide some relief for markets.While Yellen is expected to defend the Fed's first rate hike in a decade last year and likely insist that further increases remain on track, any signs of a departure from such a stance in the wake of global growth concerns could provide risk assets with a breather."The narrative that she faces is that the U.S. economy and asset markets are being sucked into the downdraft caused by oil, China, emerging markets, reserve manager and sovereign wealth fund asset selling, commodities, currency war, the strong dollar, weak European banks, weak Japanese banks, weak US banks and policy ineffectiveness...to name a few," wrote Steven Englander, global head of FX strategy at Citi.In commodities, crude oil prices trimmed some of their sharp losses suffered overnight. U.S. crude was up 2 percent at $28.50 a barrel. Crude sank nearly 6 percent on Tuesday after weak demand forecasts from the U.S. government and a rout in equities pressured prices.Spot gold fetched $1,191.76 an ounce, within reach of a 7-1/2-month peak of $1,200.60 struck on Monday on the back of risk aversion in the wider markets.
 Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi on Thursday said that five more Liquified Natural Gas (LNG) based agreements would be signed with Qatar.In an interview, the Minister said that Pakistan has been passing through a severe energy crisis and the import of LNG from Qatar would be a positive and welcome step to address the issue.He said that two countries also signed three other agreements and Memorandum of Understanding (MoU) for cooperation in the fields of Radio, TV, health and academic research.The Petroleum Minister said that 50 percent needs of energy of Pakistan depend upon the energy produced by gas.He said that import of LNG from Qatar has been started partially but on the basis of need the LNG has been given to the users.Abbasi said that under the agreement three ships carrying LNG will reach every month in Pakistan in 2016 and next year adding that number of ships will be increased to five after 2017. To a question he said that Pakistan has been facing crisis of energy for several years due to which not only domestic users are facing troubles but economy of the country has been affected badly.In his comment former General Manager Sui Southern Gas Brigadier (R) Agha Gul also said that the process of buying LNG from Qatar was going on from 2004. Talking to VOA he said God willing this will prove to be one of the achievements Prime Minister Nawaz Sharif has secured so far.He said people who have some know how of the energy crisis will term this project as light at the end of the tunnel.Agha Gul said the government has made the deal at the time when petrol prices have reduced which will have a good impact on the deal.He said the deal will help in reducing power load-shedding by 10 to 15 percent.
 Oil prices slid on Thursday as record U.S. crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half of the year.</strongInternational benchmark Brent crude futures LCOc1 were trading at $30.67 per barrel at 0601 GMT, down 17 cents.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $27.01 per barrel, down 44 cents and within a dollar of the $26.19 a barrel intra-day low hit in January that was the lowest since 2003.Inventories at the Cushing, Oklahoma delivery point for U.S. crude futures rose to an all-time high just shy of 65 million barrels, data from the government's Energy Information Administration (EIA) showed on Wednesday.The U.S.-based Schork Report said that seasonally falling crude oil demand towards the end of the winter heating season also weighed on markets.Analysts said that the recent strength in Brent's premium over WTI contracts was supported by U.S. slowing demand and brimming storage."Brent is holding much stronger than WTI which reflects the current oversupply in the U.S.," said Singapore-based brokerage Phillip Futures.The overhang in oil supplies, together with an economic slowdown in China, means that prices will remain low until the second half of the year, Goldman Sachs said in a note to clients."The risks of China growth concerns and oil price downside ... materialised faster than we anticipated," the bank said."We expect oil prices will continue to fluctuate between $20 per barrel (operational stress level) and $40 per barrel (financial stress level) with significant volatility and no price trend until 2H2016," it added.Chart analysts said that crude prices may be just days away from falling to $25 a barrel or below as weakening technicals put more pressure on the market.Matthew Sferro, technical analyst at New York's Informa Global Markets, said if WTI fell further it would likely test the support level at $25.04 per barrel established in April 2003.Oil prices have fallen almost 75 percent since mid-2014 as producers pump 1-2 million barrels of crude every day in excess of demand, just as China's economy grows at its lowest rate in a generation.Trading activity in Asia remained low due to China's New Year holiday which lasts all week and as Japan is also on a public holiday.
�</strong><strong>Gold on Friday clung to sharp overnight gains that pushed the metal to a one-year high, and looked set to post its best week in over four years as stock market turmoil stoked safe haven demand.</strongAsian shares slid as mounting concerns about the health of European banks further threatened a global economic outlook. MSCI's global stock index closed more than 20 percent below its all-time high.Safe-haven assets shone across the board. U.S. 10-year Treasury yields hit their lowest since 2012 and the Japanese yen climbed to its highest in 15 months against the dollar, while money continued to flow into gold-backed exchange traded funds.Spot gold rose to $1,260.60 on Thursday, its highest in a year, before paring some gains to close up 4 percent in its biggest daily gain in about 2-1/2 years. On Friday, it eased 0.9 percent to $1,235.85 by 0335 GMT."We are seeing a flight to quality," said a Sydney-based trader. "ETFs have been accumulating the metal for some time now. They are one of the main drivers (of the gold rally) along with the equity markets which are extremely soft."Assets in SPDR Gold Trust, the world's top gold ETF, rose 2 percent on Thursday, the biggest inflow in two months.Total holdings of the top eight gold ETFs have risen by 3.8 million ounces so far this year, after three straight years of decline.The risk-off sentiment has made gold the best performing commodity in 2016, ANZ said, while others predicted further gains."$1,300 would be possible if stocks don't stop falling," said Yuichi Ikemizu at Standard Bank in Tokyo.Jeffrey Gundlach, the co-founder and chief executive officer of DoubleLine Capital, said gold is likely to reach $1,400 as investors lose faith in central banks.For the week, spot gold is up 5.5 percent, the biggest weekly gain since October 2011. U.S. gold futures are set to post a gain of nearly 7 percent for the week, the sharpest such jump since 2008.Also helping gold was dovish comments from Federal Reserve Chair Janet Yellen, who stressed that the U.S. central bank was not on a "pre-set" path to return policy to "normal" amid a worsening meltdown in global stock markets.Though Yellen said she still expects the Fed to gradually raise rates this year, federal funds rate futures have almost completely priced out the chance of a rate hike.
 The government has increased the annual stipend to the beneficiaries of Benazir Income Support Program (BISP) from eighteen thousand to eighteen thousand eight hundred rupees per annum in accordance with the increase in Consumer Price Index during the last year.</strongA decision in this regard was taken by Finance Minister Ishaq Dar after consultation with Prime Minister Nawaz Sharif.The Minister hoped the decision would contribute to mitigating the effect of inflation on the BISP beneficiaries.The stipend at the enhanced rate of four thousand seven hundred rupee per beneficiary per quarter would be payable with effect from first of July last year.
 Finance Minister, Ishaq Dar on Sunday stressed the need for early completion of shares divestment process in Pakistan Stock Exchange (PSX).Chairing a meeting of senior officials of the Securities and Exchange Commission of Pakistan (SECP) the minister underscored the need for improved governance structure for PSX.The minister was given an overview of the performance of the PSX post integration and the status of divestment of shares of PSX.The minister noticed the post-integration improvement in performance and emphasized upon early completion of the divestment process of the shares besides improved governance structure for the new stock exchange.He said the purpose of integration has been the creation of a modern and well governed exchange which has radically improved and well positioned in the global arena.The SECP Chairman while briefing on the reform agenda for commodities futures market expressed the regulator s resolve to develop this segment of the market on priority basis.Pakistan he said primarily being an agriculture based economy needs a mercantile exchange that plays its due role in ensuring closer linkage with the real economy.He said that Pakistan Mercantile Exchange (PMEX) should have national level branch network.The Finance Minister endorsing the SECP vision assured of his full support in revitalizing PMEX and emphasized the need to have a visionary leadership at the exchange that can steer it to success and implement required reforms.He stated that infrastructure development and long term financing through the capital market is a critical element to raise GDP growth rate from the existing level to 7 percent.He assured that the government was fully committed to support the debt market in particular SUKKUKs.During the meeting the minister was also updated on the two-day international NBFC Conference held last month and the recommendation put forth by the participants.<br/>The minister appreciated SECP�s supportive role in facilitating various reforms and its efforts in creating investor awareness and education.He expressed his pleasure over the increase in number of accounts and the investors interest in the capital markets through the mutual fund industry.Ishaq Dar said the government�s business friendly policies and economic reform agenda had already put the country�s economy back on track.It was further emphasized that all necessary reforms be put in place to facilitate the market to grow to its full potential so that the benefits can be passed on to the economy and assured the Government�s full support to the SECP for the same.
 Brent and US crude futures edged down on Monday as a strong dollar weighed on prices, paring gains from a more than 10-percent jump late last week that came amid renewed talk that OPEC might finally agree to cut output to reduce a world glut.</strongThe mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister said, adding he will have talks with his Saudi and Qatari counterparts.London Brent crude for April delivery was down 45 cents at $32.91 a barrel by 0032 GMT (7 p.m. ET on Sunday). It jumped $3.30 on Friday after the United Arab Emirates' energy minister was quoted as saying that OPEC members are ready to cooperate on an output cut.NYMEX crude for March delivery was down 37 cents at $29.07 a barrel, after rebounding more than $3 in the previous session from Thursday's 12-year low. There will be no settlement on Monday for U.S. crude due to the Presidents Day holiday, and trading may be thinner than usual.The U.S. dollar rose from a 15-month low against the yen and also gained against the euro on Monday helped by a bounce in U.S. consumer spending last month."The dollar's strength is contributing to slight declines in Brent and U.S. crude," said Kaname Gokon at brokerage Okato Shoji in Tokyo. "But the market may not move much today due to the U.S. holiday."Iran is exporting 1.3 million barrels a day (bpd) of crude oil, and will be pumping 1.5 million barrels a day by the start of the next Iranian year on March 20, a vice-president was quoted as saying on Saturday.Iran will load 4 million barrels of crude oil on tankers destined for Europe in the coming 24 hours, a senior official was quoted as saying on Saturday, including 2 million barrels to be bought by France's Total.Amid worries over slowing global demand, China's exports, denominated in yuan, fell 6.6 percent in January from a year earlier, while its yuan-denominated imports dipped 14.4 percent, trade data showed on Monday.Japan's economy contracted an annualized 1.4 percent in the final quarter of last year, data showed on Monday.
 The Federal Board of Revenue (FBR) has realized Rs 1664 billion revenues upto February 15 against the collections of Rs1404 billion taxes in the same period of last fiscal year showing an increase of 18 percent, a senior official of the board said.</strongSpokesman of FBR Dr Muhammad Iqbal says that the FBR had performed well in tax collection and it collected 17 percent more taxes during first 15 days of February 2016 as compared to same period last year.He said during the period Rs78.6 billion were collected as compared to the collection of Rs66.9 billion during same period last year.The FBR spokesman said: �We had issued notices to 300 000 non-tax filers whereas currently one million people are filing their taxr eturns in the country.�He added the FBR was committed to broaden the tax net and enhance the tax filers from one million to 1.7 million to increase the revenue for economic development and prosperity.He said the tax amnesty scheme was aimed at introducing the simple procedure for filing the tax returns to facilitate the filers.He said the new procedure would enhance tax compliance expand the tax base discourage tax evasion and reduce cost of compliance by the traders.He added that under this scheme FBR wanted to raise tax revenues without inconveniencing the traders and minimizing contact between tax officials and taxpayers.Dr Iqbal said the simplified procedure can be availed by both the existing return filer and non-filer traders.The FBR had collected an amount of 28 percent extra in the months of October and November and mid of December as compared to the same period of previous year, he said.The performance of FBR, he said, was very encouraging in the second quarter of current fiscal year and figures show 30 percent increase in collection of taxes, he added.The FBR Spokesman said that the FBR�s administrative reforms were gradually leading to improvement in tax structure and revenue collection.The reforms he said would continue to address the issue of tax compliance and administration.He said that serious efforts were underway to bring FBR at par with the tax authorities of the developed countries for economic stability in the country.
 Managing Director Pakistan State Oil (PSO), Sheikh Inamul Haq Tuesday announced that the import of Liquefied Natural Gas (LNG) from Qatar will begin from the first week of March.</strongIn a media statement, the MD PSO said Pakistan will import 400 mmcf LNG per day from Qatar.Last week Pakistan and Qatar inked an agreement for supply of around US one billion dollars worth of LNG to Pakistan annually to help the country meet its energy shortfall.The agreement on Long Term LNG Sale and Purchase was signed during the visit of Prime Minister Muhammad Nawaz Sharif�s two-day visit to Qatar.
 Brent crude oil futures pared gains on Tuesday after Qatar�s energy minister said his country had agreed to freeze output at January�s levels, together with Saudi Arabia, Russia and Venezuela.</strongBrent crude futures were last up 48 cents at $33.87 a barrel at 0907 GMT, having fallen back from a session high of $35.55 earlier.Qatari energy minister Mohammad bin Saleh al-Sada said the joint decision was contingent on other major producers following suit."It�s really the first supply management decision taken since November 2014, so even though there will be some that will try to discount it and say it�s not a cut, it�s a change.It is a big change in policy," Petromatrix strategist Olivier Jakob said.Oil prices have fallen by more than 70 percent in the past 20 months, driven down by near-record production both from OPEC and from non-members of the cartel, such as Russia.
 Asian shares extended their gains on Tuesday as a combination of stabilising Chinese markets, a rebound in oil prices and solid US consumption data drove investors to look for bargains after last week's rout.</strongMSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6 percent, with Chinese bank shares leading the gains after a surprise jump in China's bank lending data.Mainland Chinese shares also rose 2.5 percent to three-week highs.Japan's Nikkei rose 0.9 percent after a 7.2 percent climb on Monday, recovering a sizable part of its 11 percent slump last week - its biggest since 2008.On Monday, European stocks rose 2.9 percent, having shed nearly 10 percent over the last two weeks. U.S. financial markets were closed for a national holiday but globally-traded U.S. stock futures rose 1.5 percent."It is partly a reaction after such big falls last week. Solid U.S. data is also improving investor sentiment given that they are counting on U.S. growth to lead the global economy," said Hirokazu Kabeya, chief global strategist at Daiwa Securities.U.S. retail sales data published on Friday showing firm growth allayed fears - at least for now - that the U.S. economy could be dragged into recession as growth stumbles in many parts of the world.Sentiment on the U.S. currency also improved, with the dollar rising to 114.65 yen, recovering further from a 15-month low of 110.985 touched on Thursday.The euro also eased to as low as $1.1128 on Monday, retreating from Thursday's 3 1/2-month high of $1.1377, and last stood at $1.1173.The common currency was also driven lower by remarks from European Central Bank President Mario Draghi that the bank is ready to ease policy further in March.Gold extended fall from Thursday's one-year peak of $1,262.90 per ounce as safe-haven buying in the precious metal in recent weeks was rolled back.It fell 0.6 percent to $1,203.90, unable to find a floor after 2.2 percent on Monday, which was its biggest fall in almost seven months.Oil prices gained on news of a rare private meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.Global benchmark Brent futures rose 3.3 percent to $34.48 a barrel, rising to their highest level in a week. U.S. crude futures also jumped back above $30.As risk sentiment improved, yields on top-rated government bond rose, with the 10-year U.S. Treasuries yield rising 4.7 basis points to 1.793 percent from 1.746 percent at the end of last week.The Bank of Japan started implementing negative interest rates on Tuesday. The benchmark interbank lending rate fell to zero percent but not to negative levels partly because some banks have not fixed their system to deal with negative rates.
 Iran said on Wednesday it would resist any plan to restrain its oil output as fellow OPEC ministers tried to persuade the country to join the first global oil pact in 15 years.</strongTalks in Tehran between Iranian oil minister Bijan Zanganeh and his counterparts from Iraq, Qatar and Venezuela lasted for nearly three hours.Visiting ministers left without making comment.Zanganeh was due to make televised remarks at around 1500 GMT.Iran is the major obstacle to the first joint OPEC and non-OPEC deal since 2001, having pledged to increase output sharply to regain market share lost during years of sanctions.The meeting in the Iranian capital followed a deal reached on Tuesday by OPEC power Saudi Arabia and non-OPEC Russia, the world�s top two producers and exporters, to freeze production at January levels if other big oil nations agree to join.OPEC Gulf producers - Qatar, Kuwait and the UAE - as well as Venezuela said they would join the pact, aimed at tackling a growing oversupply and helping prices recover from their lowest in over a decade."Asking Iran to freeze its oil production level is illogical...when Iran was under sanctions, some countries raised their output and they caused the drop in oil prices," Iran�s OPEC<br/>envoy, Mehdi Asali, was quoted as saying by the Shargh daily newspaper on Wednesday."How can they expect Iran to cooperate now and pay the price?" he said. "We have repeatedly said that Iran will increase its crude output until reaching the pre-sanctions<br/>production level."The freeze plan has so far failed to push up oil prices, due to concerns Iran would not participate and that a deal would do little to ease the global glut as it would still allow Russia and Saudi Arabia to keep pumping at near record levels.Venezuelan Oil Minister Eulogio Del Pino, Iraqi Oil Minister Adel Abdel Mahdi and Qatari Energy Minister Mohammad bin Saleh al-Sada sat down with Zanganeh at 3 p.<br/>m. (1130 GMT).The sanctions, imposed over Iran�s nuclear programme, were lifted last month after an agreement with world powers, allowing Tehran to resume selling oil freely in international markets.Iran exported around 2.5 million barrels per day (bpd) of crude before 2012, but sanctions cut that to around 1.1 million bpd.Tehran has pledged to raise supply by around 1 million bpd in the next 6-12 months.
 Crude oil futures rebounded on Wednesday on investor hopes that a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices.</strongBrent crude had climbed 34 cents to $32.52 a barrel by 0455 GMT, after settling down $1.21 in the previous session.It had surged to $35.55 a barrel in early trade on Tuesday.US crude was up 19 cents at $29.23 a barrel, having ended the last session down 40 cents.Top oil producers Russia and Saudi Arabia on Tuesday agreed to limit oil production at January levels, provided other oil exporters joined in, but stopped short of agreeing cuts in oil output.Iraq, Qatar and Venezuela said they would freeze output at January levels provided a deal could be agreed, while OPEC member Iran could be offered special terms to freeze oil production levels, sources said.Oil prices initially surged on Tuesday on news of the deal but early gains were wiped out by the realisation that there would be no immediate supply cuts to tackle global oversupply."It was a �buy the rumour, sell the fact� event," said Ben Le Brun, market analyst at Sydney�s OptionsXpress."The market is coming around to the idea that it is not bad news, but not as good news as it was anticipating," he said, adding that investors were hoping for production cuts.Moves to freeze output at January levels will make little difference to the overall supply-demand balance this year and won�t be enough to clear the 600,000 barrels per day surplus projected for the year, analysts FGE said in a note on Wednesday."It could pave the wave for further action to be taken should the likes of Saudi Arabia, other OPEC members and Russia deem it necessary," FGE said.April crude futures will remain range-bound, Singapore�s Phillip Futures said in a note on Wednesday.Saudi Arabia�s oil production has stagnated at slightly more than 10 million bpd throughout 2015, meaning that "all that was achieved was an agreement to continue what they were doing", Phillip Futures said.Investors are also eyeing US oil inventory data later on Wednesday for further direction on oil prices.US crude stocks rose by 3.9 million barrels to 505.9 million barrels in the week to Feb. 12, according to a Reuters poll of analysts on Tuesday.Weekly inventory reports from industry group the American Petroleum Institute (API) and the US Department of Energy�s Energy Information Administration (EIA) will be released on Wednesday and Thursday respectively, a day later than usual because of a public holiday on Monday.
 Oil prices rose 7 percent on Wednesday after Iran voiced support for a Russia-Saudi-led move to freeze production to deal with the market glut that had pressured crude prices to their lowest in a dozen years.</strongIranian Oil Minister Bijan Zanganeh met counterparts from Venezuela, Iraq and Qatar in Tehran for over two hours on Wednesday, saying the proposed production "ceiling" should be the first step toward stabilizing the market.Zanganeh, quoted by Tehran's Shana news agency, did not say explicitly say that Iran will keep its own output at January's levels, in line with the proposal that major producers including Russia and Saudi Arabia restrict output.An Iranian official, speaking before Wednesday's meeting, said Iran would continue increasing its oil output to levels held before the 2012 trade sanctions imposed on the fourth largest producer in the Organization of the Petroleum Exporting Countries.Tehran has been the main obstacle to the first joint OPEC and non-OPEC deal in 15 years, after its pledge to recapture market share lost to sanctions.Even so, Zanganeh's endorsement of the production freeze plan helped spark a powerful rally.Brent settled up $2.32, or 7.2 percent, at $34.50 a barrel.U.S. crude closed up $1.62, or 5.6 percent, at $30.66 a barrel.Prices extended gains in post-settlement trade after data from industry group the American Petroleum Institute showed a stockpile drop of 3.3 million barrels versus analysts' forecasts for a build of 3.9 million barrels. The U.S. government will release official stockpile data on Thursday.Options expiry in U.S. crude also fed Wednesday's rebound, some traders said.Some investors said they had a better outlook for oil now."I'm pricing between $35 and $45 for Brent by summer, as we still have a daily surplus of up to 1.7 million barrels of oil to contend with," said Phil Davis, an independent crude trader at PSW Investments.Others were more skeptical. "I think people will be in a wait-and-see mode," said Scott Shelton, energy broker for ICAP. "Risk would be lower because of the volatility involved."Traded volume in U.S. crude futures was just above 500 million barrels, lower than the past three sessions, Reuters data showed, despite the price gains and activity prior to options expiry.
 Asian shares slipped from near three-week highs on Friday as a rally in oil prices reversed and investors remained cautious about the outlook for the global economy.</strongMSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent, but gains in previous sessions left it up 4 percent for the week.Japan's Nikkei dropped 2.2 percent as the yen firmed, but remained on track for a weekly gain of 5.9 percent."This week is the first sign of change I have seen in 2016," Evan Lucas, market strategist at trading services provider IG, wrote in a note.But "most fund managers are nearing their maximum levels of cash under their respective mandates. This capital needs to be deployed to confirm the change is on."MSCI's emerging market index hit a six-week high overnight on hopes that oil prices were stabilizing, but the positive sentiment didn't flow through to U.S. shares.The S&amp;P 500 shed 0.5 percent, dragged down by lackluster earnings from Wal-Mart Stores.Oil prices reversed earlier gains on Thursday following a rise in US stockpiles but look set to post their first rise in three weeks after the battered market took heart from a tentative deal by major producers to freeze output at January's highs.Still, doubts about how much other countries will cooperate have weighed on investors, with a focus on Iran, which has pledged to increase output sharply to regain market share lost during sanctions.Brent crude extended losses on Friday, last trading down 0.8 percent at $34.02 per barrel, but is up 2 percent for the week.US crude last traded at $30.56, off a two-week high of $31.98 hit on Thursday but up 3.8 percent so far this week."I would assume oil prices will face downward pressure and there will be selling into a rally," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.In a sign that investor fears over a global economic slowdown are far from being on the wane, traditional safe-haven assets held firm after a strong outperformance on Thursday.Gold surged 1.8 percent on Thursday to $1,230.90 per ounce and last stood at $1,225.96.Investors also flocked to the safety of top-rated government bonds, with the 10-year US Treasuries yield falling back to 1.7276 percent, compared with Wednesday's one-week high of 1.8470 percent.In the currency market, the yen regained its edge, rising to 112.93 per dollar from this week's low of 114.875.The euro fell to as low as 125.34 yen on Friday, a low last seen in June 2013, and last traded at 125.56 yen.Against the dollar, the common currency traded at $1.1117, having slipped to a two-week low of $1.1071 on Thursday.The minutes from the European Central Bank's January meeting showed some policymakers are advocating the need to act pre-emptively in the face of new threats on the economy.A big focus is on the British pound and the EU summit in Brussels, where UK Prime Minister David Cameron is seeking more favorable terms for its EU membership.A successful deal there is expected to lead to a referendum on EU membership as soon as in June."We expect a correction lower in EURGBP should an agreement be reached at the meeting, although an impasse, to which we assign a non-negligible probability, would likely weigh on the GBP," wrote Barclays analysts in a report.The pound stood at $1.4321, having fallen to a near seven-year low of $1.4080 last month partly on worries about so-called "Brexit".Against the euro, it stood at 77.635 pence per euro.
 Iran aims to increase its oil production by 700,000 barrels per day in the near future, the deputy oil minister said on Saturday.</strong"One of the goals of Iran's sixth development plan is to produce 4,700,000 bpd of crude oil. To achieve that we need to increase our production by 700,000," Rokneddin Javadi, was quoted as saying by the ministry's news agency, Shana.
 Prime Minister Nawaz Sharif has directed to ensure completion of ongoing power projects on time.</strongChairing a meeting of cabinet committee on energy here on Monday, PM Nawaz said he will monitor the progress on power projects on a regular basis.He said significant addition of electricity to national grid will not only minimize load shedding but will also greatly contribute to economic and infrastructure development.Federal Secretary Water and Power briefed the meeting that 2015 remained the best year for power generation and recovery of arrears.�Peak generation of power was 17,000 MW last year.He said the line losses were reduced by 5.8 percent due to better monitoring and strategy to eliminate corruption and theft.The Prime Minister was informed that Rs 51 billion increase was noticed in recoveries while Rs 10 billion were saved due to decrease in the line losses.The meeting was informed that there are sufficient fuel stocks in the country.Facilities provided to new Independent Power Producers last year will help generate 12, 000 MW electricity.The meeting was informed that 9,090 megawatt additional electricity will be added to the grid by end of next year.
 Asian share markets edged cautiously higher on Monday as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.</strongA busy week for data culminates with a Group of 20 meeting that offers leaders a chance to soothe market concerns with talk of coordination, even if it produces nothing concrete.MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.7 percent, having rebounded more than 4 percent last week.E-Mini futures for the S&amp;P 500 ESc1 were also up 0.3 percent.The calmer mood was aided by oil as Brent crude added 31 cents to $33.32 and US crude rose 26 cents to $29.90.Japan's Nikkei recouped early losses to rise 0.7 percent, buoyed by a retreat in the yen even as an activity survey showed a drop in new export orders took a heavy toll on manufacturing.The Markit/Nikkei Flash Japan fell to 50.2 in February, from 52.3 in January, a potentially bleak omen for the rest of the region.China's major stock indexes firmed as investors welcomed news over the weekend that the head securities regulator was being replaced.The blue-chip CSI300 index and the Shanghai Composite Index both rose 0.9 percent.While Wall Street ended Friday with a whimper, the major indexes still boasted their best weekly performances this year, with the Nasdaq tallying its strongest week since July."Equity markets successfully stress-tested and bounced from key technical support last week," wrote analysts at RBC Capital Markets."While we cannot definitively say the cycle/2016 lows are in place yet, the technical evidence continues to suggest a more durable bottom may be forming."strong>TO LEAVE, OR NOT</strongThe early price activity was in sterling, which beat a hasty retreat as worries that Britain may quit the European Union flared up after London Mayor Boris Johnson threw his weight behind the exit campaign.The pound fell around 1 percent on the greenback, euro and yen. It slid as far as $1.4235 and 160.07 yen, from around $1.4405 and 162.10 late on Friday.Sterling has just about completely reversed gains made on Friday after EU leaders agreed unanimously on a package of measures aimed at keeping Britain in the 28-nation bloc to avoid a potentially disastrous divorce.The other major currencies were steadier. The dollar was a touch firmer at 112.89 yen, as was the euro at 125.45. Against the greenback, the common currency was also slightly weaker at $1.1116.The dollar was underpinned by data last Friday that showed underlying US consumer price inflation accelerated in January by the most in nearly 4-1/2 years.The figures should support the view that the Fed could gradually raise interest rates this year as forecast, though markets remained highly skeptical given the backdrop of slowing global growth and market turbulence.Finance ministers and central bank governors from the Group of 20 rich nations gather in Shanghai this week to discuss those global headwinds.There has been some chatter about a possible grand currency agreement that would allow for a depreciation in the US dollar, which might relieve pressure on commodity prices and on emerging markets.However, most analysts consider it very unlikely given so many of the G20 central banks are actively easing policy and need their own currencies to stay competitive.
 Finance Minister, Ishaq Dar Tuesday asked all the ministries and departments concerned to put in their best efforts to address the issue of power shortage.</strongChairing a meeting here today, the Finance Minister said timelines for different projects should be strictly followed.The meeting was apprised about hydel, gas, wind, solar and coal based projects being undertaken for enhancing the country�s power generation.Officials of Ministry of Petroleum briefed the meeting about arrangements for supply of natural gas and the development of necessary infrastructure to facilitate the upcoming power projects.
 Gold edged up on Tuesday as Asian shares reversed gains and the dollar slipped, with the metal also supported by big inflows into bullion funds.</strongAsian shares turned negative after rising to a seven-week high as the oil price rally that boosted global equity markets reversed. The dollar index fell from a three-week top.Spot gold had risen 0.7 percent to $1,217.20 an ounce by 0324 GMT. Bullion had fallen as low as $1,201.63 on Monday, when it lost 1.6 percent on the day as equities rallied.Bullion could be vulnerable to more corrections if stock markets strengthen, analysts said."Prices may stay under pressure at least in the near term," said HSBC analyst James Steel. "Greater investor risk appetite erodes demand for gold, while increased scrap adds to supply as major consumers are shying away from physical purchases."Top consumers China and India have turned sellers of gold as prices rally. Discounts in India have hit a record high, while prices in China have also turned cheaper relative to the global benchmark, in a sign of waning demand.Gold has gained this year largely on the back of turmoil in stock markets and concerns over the global economy. But the metal has given back some of those gains as markets have stabilised.The volatility index, which measures implied volatility of stock options and is often seen as an investor fear gauge, fell below 20 percent this week, hitting the lowest closing level since early January.HSBC's Steel said the recent decline in gold prices doesn't mean the rally is over, adding that demand for bullion exchange traded funds and possible weakening of the dollar could support the metal.Assets in SPDR Gold Trust, the top gold-backed exchange-traded fund, rose 2.64 percent to 752.29 tonnes on Monday, the highest since March 2015.The 19.33-tonne inflow matches Friday's increase, which was the fund's biggest single-day inflow since August 2011.The fund's inflows since the beginning of the year have already surpassed outflows for the whole of 2015.Among other precious metals, silver ticked up after hitting a two-week low of $14.90 an ounce on Monday. Platinum declined, falling towards a two-week low hit in the previous session, while palladium firmed.
 Asian shares fell on Wednesday as oil prices skidded after Saudi Arabia effectively ruled out production cuts by major producers anytime soon, sending investors into safe-havens such as the yen.</strongMSCI's broadest index of Asia-Pacific shares outside Japan extended earlier losses to fall 1.1 percent as of 0246 GMT, slipping further from Monday's six-week high.Japan's Nikkei shed 0.7 percent on the drop in oil prices and as the stronger yen weighed on exporters.Chinese shares opened higher but surrendered the gains, with the CSI 300 index down 0.1 percent and the Shanghai Composite little changed.The US S&amp;P 500 Index fell 1.25 percent on Tuesday to 1,921.27, having failed to rise above its peak hit on Feb. 1, with energy and material sectors being a major drag as oil prices quickly gave up Monday's hefty gains.Saudi Oil Minister Ali Al-Naimi told oil executives on Tuesday that markets should not view the agreement by four major oil producers to freeze output at January levels as a prelude to production cuts.While Naimi said he was confident more nations would join the pact, Iran was seen as unlikely to agree to the output cap, which does not allow Iran to regain the market share it lost during sanctions.Oil prices slid in early Asia trade, extending losses of more than 5 percent overnight. US crude futures were down 1.8 percent at $31.29 per barrel, while international benchmark Brent futures were down 1 percent at $32.94."I suspect few people were expecting a deal to cut production so his comments are hardly a surprise. Yet, the latest development seems to suggest that for oil producers to get more united they will have to feel more pain," said Ayako Sera, senior market economist at Sumitomo Mitsui Trust Bank.The toll from low oil prices is also spreading to banks that have exposure to the energy sector, as roughly a third of US shale oil producers are at high risk of slipping into bankruptcy this year, according to a study by Deloitte.JP Morgan, the largest US bank by assets, said it will increase provisions for expected losses on energy loans by $500 million, or more than 60 percent of its existing reserves.JPMorgan shares fell 4.2 percent on the announcement.Investors instead favoured safer assets such as US Treasuries, with the 10-year notes yield falling to a two-week low of 1.714 percent overnight.The increased risk aversion led gold to erase all its losses from earlier this week to trade at $1,227.30 per ounce, coming near its one-year high of $1,262.90 touched about two weeks ago.In the currency market, traditional safe-haven currencies such as the yen and the Swiss franc outperformed.The yen firmed to 111.77 to the dollar on Tuesday, edging near its 15-month high of 110.985 hit on Feb. 11. It last stood at 111.90.The Swiss franc gained broadly, hitting a one-month high on the euro at 1.09165 franc per euro on Tuesday. It has since weakened to 1.0929 franc per euro.The franc got a lift also as the head of its central bank warned it could not "endlessly" take further steps to ease monetary conditions.The euro in contrast was hit by a key index on German business climate showing sentiment among German manufacturers plunged by its largest amount since the bankruptcy of Lehman Brothers in 2008.Against the dollar, the euro fell to three-week low of $1.0990 on Tuesday and last stood at $1.10160.The British pound remained on defensive, hitting a seven-year low below $1.40 in early Asian trade on Wednesday on worries Britons would vote to leave the European Union in a June referendum.
 Asian shares slipped on Thursday as a fragile recovery in volatile crude oil unraveled, reviving anxiety about the health of the global economy, and Chinese shares skidded.</strongMSCI's broadest index of Asia-Pacific shares outside Japan gave up early gains and was down 0.2 percent.Japan's Nikkei stock index added about 0.5 percent as the yen moved away from its recent highs.Sharp Corp shares jumped after its board decided to accept a takeover offer from Hon Hai Precision Industry Co, a source said, in what would be the largest acquisition by a foreign company in Japan's insular technology sector.Market players said investors have focused on Friday's G-20 meeting in Shanghai as one potential catalyst for troubled, directionless markets."The IMF has suggested that members of the G-20 summit use the meeting as a means of discussing a coordinated policy response for what could otherwise be a crisis," said Stefan Worrall, director of Japan equity sales at Credit Suisse in Tokyo."I think investors are closely watching the G-20 for any signs of a coordinated fiscal response."Chinese shares extended early losses, with the CSI300 index of the largest listed companies in Shanghai and Shenzhen down 3.4 percent, while the Shanghai Composite Index slumped 3.6 percent.The dollar added about 0.1 percent against its Japanese counterpart to 112.33 yen, well off a two-week low of 111.04 yen plumbed overnight.The euro rose about 0.1 percent to $1.1021 after touching a three-week low of $1.0957 overnight.The British pound steadied at $1.3930 after dropping to a seven-year low of $1.3878 in the previous session on heightened fears that a June 23 referendum could lead to a British exit from the European Union.US crude futures CLc1 shed about 0.9 percent to $31.86 a barrel, after they gained nearly 1 percent overnight on government data showing gasoline demand rose more than 5 percent over the past four weeks compared with a year ago. That helped offset investors' fears about record high crude inventories.The sharp downturn in global oil prices has fed investor fears about slowing world growth, with broader concerns about China's cooling economy adding to heightened anxiety and financial market volatility.Brent crude for April delivery skidded 1.1 percent to $34.04 a barrel.Wednesday's recovery in crude oil prices helped drag Wall Street higher at the close, after lackluster economic data weighed on sentiment for much of the session.US data showed the services sector contracted in early February for the first time since October 2013, suggesting a weakening of economic conditions beyond the troubled manufacturing and energy industries. Other data showed weakness in new US single-family home sales, though the overall housing market recovery remains intact.Spot gold erased early losses and rose about 0.4 percent to $1,234.50 an ounce, within site of a one-year high of $1,260.60 reached on Feb. 11.
 Crude oil prices dipped in early trading on Friday as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.</strongThe drop in prices came after oil markets rose late on Thursday on the back of strong US gasoline demand and what ANZ bank called a "perennial hope that OPEC members can coordinate supply".That hope was stoked by reports that OPEC-members Saudi Arabia, Qatar and Venezuela, as well as non-OPEC producing giant Russia, would meet in March to discuss capping crude oil production at January levels.But the rally did not last into Friday as traders estimated that a freeze in production would not reduce a glut that has pulled down prices by 70 percent since 2014.International Brent crude futures were trading at $34.89 per barrel at 0139 GMT, down 40 cents from their last settlement. US West Texas Intermediate (WTI) crude futures were down 21 cents at $32.86."Capping production at January levels, when the market was pumping out well over a million barrels of crude a day above what consumers need, will in no way reduce overcapacity. In fact, given that Iran has started to return to markets since January, it'll worsen the glut," said one senior oil trader.Iran is hoping to increase its crude exports by 1 million barrels per day within the next year after international sanctions against it were lifted in January. The sanctions had cut Iran's exports by more than half from a pre-sanctions peak of almost 3 million barrels per day in 2011.Despite the glut, prices did receive some support this week from strong demand for gasoline, especially in the United States."The idea that gasoline demand is actually rising suggests that perhaps the lower prices of crude are actually prompting a greater usage of this product (gasoline)," said Vyanne Lai, oil analyst at National Australia Bank."I think the market is reading this as a positive sign in terms of demand."
 Federal Minister for Planning, Ahsan Iqbal on Saturday said the next 10 years will prove to be Pakistan�s fastest economic progress and the country will stand among the 25 largest economies of the world by the year 2025.</strongAddressing a discussion at Center for Strategic and International Studies here, Ahsan Iqbal said Pakistan achieved the growth rate of 4 percent for the first time in the past 8 years.�Pakistan�s growth rate will be increased to 5 percent in the current year and it will be further raised to 6 percent by 2018,� he added.The Minister said that Pakistan is presently in talks with the US for producing 10,000 PhDs in the fields of science, technology and engineering. He said implementation of this plan will begin following the Pakistan-US strategic Dialogue set to be held on February 29. 
 The Federal Board of Revenue (FBR) has decided to extend the date for Voluntary Tax Compliance Scheme (VTCS) after the target it had set could not be achieved.</strongAccording to sources at FBR, despite the launch of VTCS the set targets could not be achieved, as only 305 businessmen filed tax returns by February 26.The sources further said that two recommendations were being chalked out for extending last date of the scheme. One suggests its extension till March 15 while the other proposes March 31 as its new deadline.The final decision in this regard is expected to be made during the meeting of Economic Coordination Committee (ECC) which will be held either on February 29 or March 1.
 �Mobile phone imports in the country have reached �433.276 million dollars in current financial year (July-January), registering 10.39 percent increase as compared to same period last year.</strongThe imports of mobile phone were 392.493 million dollars in same period last year statistics of Pakistan Bureau of Statistics (PBS) showed on Sunday.The data said overall telecom imports saw a decline of 5.5percent during July January 2015 16 as compared to same period last year.The total telecom imports were recorded at 800.127million dollars during the period as compared to 846.713 million dollars previous year.Other telecom apparatus import also witnessed a significant decline of 19.23 percent during this period as it stood at US 366.851 million during July January (2015 16) against �454.220 million dollars during same period of last year.Meanwhile telecom experts said in next two years smart phones are expected to cross 55 per cent of mobile phone imports.Smartphones adoption in Pakistan is expected to grow due to expanding 3G and 4G networks (currently 3G services are available in more than 200 cities and towns.Moreover, according to Grappetite Research 77 per cent of smartphone users are between ages of 21 30 years which is the most adaptive segment for use of smartphones.Cellular mobile operators have also collaborated with smartphone manufacturers to promote smartphone usage in Pakistan and companies have also started developing mobile apps and mobile websites keeping in view the fast adoption of smartphones in Pakistan which will increase the smartphone usage in future.With the rapid expansion of mobile broadband networks and adoption of smartphones in the society the telecom import burden has gradually increased over the last five years.In the Fiscal Year 2014 15 Pakistan imported US 1.2 billion worth of telecom equipment in which a record import of US 629.9million was on account of cellular mobile handsets imports.According to International Data Corporation (IDC) Pakistan remained one of the fastest growing markets for smartphones shipments in 2015�� 123 per cent growth was registered in smartphone shipments to Pakistan between Q 1 2014 and Q 1 2015.Currently almost 31 per cent of cellular mobile handsets imported in Pakistan are smartphones which were only about 7 per cent in 2012.
 India unveiled a fire-fighting budget on Monday that seeks to win back support among rural voters for Prime Minister Narendra Modi�s government and sustain growth against a grim global backdrop - all without borrowing more.Finance Minister Arun Jaitley�s third budget marked a strategic shift by addressing rural distress in a country of 1.3 billion, where two-fifths of families rely on farming and are reeling from two years of drought.At the same time it hiked public investment in India�s woeful infrastructure by 22.5 percent, while taking further steps to revive corporate investment that Modi needs to create new jobs for India�s burgeoning workforce.Here are the highlights of Jaitley�s budget for the fiscal year that begins on April 1.strong>FISCAL DEFICIT</strong* Fiscal deficit seen at 3.9 percent of GDP in 2015/16<br/>* Fiscal deficit seen at 3.5 percent of GDP in 2016/17<br/>* Planned expenditure seen at 5.5 trillion rupees in 2016/17<br/>* Proposes to set up panel to review fiscal responsibility management actstrong>RURAL ECONOMY</strong* Rural jobs programme allocated 385 billion rupees in 2016/17 <br/>* Farmer welfare budget to total 359.84 billion rupees<br/>* Rural road development to get 190 billion rupees<br/>* Target of agriculture credit at 9 trillion rupees<br/>* Interest subvention towards farm loans at 150 billion rupees<br/>* To set up dedicated irrigation fund worth 200 billion core initially<br/>* Allocates 55 billion rupees for crop insurance programme for 2016/17strong>GROWTH</strong* Nominal GDP growth seen at 11 percent year-on-year in 2016/17strong>MONETARY POLICY</strong* Government along with central bank to set retail inflation target every 5 years<br/>* Monetary Policy Committee to have 6 members, including 3 appointed by federal government <br/>* Monetary Policy Committee to decide policy rates to achieve inflation target; decisions shall be binding on central bank <br/>* RBI act is being amended for implementing monetary policy Frameworkstrong>BANKING REFORMS</strong* Government to infuse 250 billion rupees capital into state-run banks in 2016/17; will find resources for additional capital for banks if required<br/>* To weigh cutting stake in state-run IDBI below 50 Percentstrong>POLICY REFORMS</strong* Proposes to raise foreign portfolio investment limit in state-run companies except banks to 49 percent from 24 percent currently <br/>* Bankruptcy code for financial firms to be introduced in parliament in 2016/17<br/>* To list general insurances companies on stock exchanges<br/>* Companies Act 2013 to be amended to improve ease of doing businessstrong>MARKET REFORMS</strong* Investment basket of foreign portfolio investors in corporate bonds will also include unlisted debt securities, pass-through securities <br/>* Proposes raising investment limit for foreign entities in local stock exchanges to 15 percent from 5 percent<br/>* Government proposes developing an electronic platform for repo in corporate bonds in 2016/17strong>INFRASTRUCTURE</strong* Allocates 2.21 trillion rupees for infrastructure development for 2016/17, up 22.5 percent on last year<br/>* Allocation for roads and highways development at 550 billion rupees<br/>* Capital expenditure on roads and rail development at 2.18 trillion rupeesstrong>DISINVESTMENT</strong* Total stake sales in 2016/17 seen at 565 billion rupees<br/>* To encourage central public enterprises to divest own assets for raising resources for new projects<br/>* Strategic divestment seen at 205 billion rupeesstrong>TAXATION</strong* Net revenue gain of 196.1 billion rupees seen from taxes in 2016/17 <br/>* Will not resort to retrospective taxation in future; one time tax dispute resolution proposed for retrospective taxation<br/>* To rationalise corporate tax for new manufacturing companies<br/>* To implement general anti avoidance tax rule from April 1,2017<br/>* To levy 20 percent ad valorem duty on locally produced crude oil versus current 4,500 rupees per tonne <br/>* Security transaction tax on options raised to 0.05 percent<br/>* Proposes to levy infrastructure cess of 1-4 percent on certain models of cars<br/>* Raises factory gate tax on various tobacco products by 10-15 percent<br/>* Proposes limited compliance window on undeclared income of domestic tax payers; new dispute resolution scheme to resolve tax disputes<br/>* Thirteen cesses levied by various ministries having revenue collection of less than 5 million to be abolished <br/>* Proposes to raise excise duty on aviation turbine fuel to 14 percent from 8 percent <br/>* Considers scrapping export duty on low-grade iron ore<br/>* Increases import duty on aluminium products to 7.5 percent from 5 percent <br/>* Redemption of sovereign gold bonds by individuals will be exempt from capital gains tax<br/>* Forex appreciation gains at redemption on rupee-denominated bonds by non-residents will be exempt from capital gains taxstrong>EXPENDITURE</strong* Allocates 2.49 trillion rupees for defence sector in 2016/17BORROWING<br/>* Gross market borrowing seen at 6 trillion rupees for 2016/17<br/>* Net market borrowing seen at 4.25 trillion rupees for 2016/17<br/>* Government to switch bonds worth 750 billion rupees in 2016/17strong>SUBSIDIES</strong* Total subsidy seen at 2.5 trillion rupees in 2016/17 <br/>* Food subsidy seen at 1.35 trillion rupees<br/>* Petroleum subsidy estimated at 269.5 billion rupees<br/>* Fertilser subsidy seen at 700 billion rupeesINVESTMENT<br/>* 100 percent foreign direct investment to be allowed in food processing industry<br/>* Promises further reforms in foreign direct investment policy in insurance, pension, asset recast companiesstrong>GOLD</strong* Jaitley makes no mention of revising gold import duty in budget speech <br/>* India raises concessional countervailing duty on gold dore bars to 8.75 percent from 8 percentstrong>MARKET REACTION</strong* India�s NSE share index closes down 0.6 percent<br/>* India�s 10-year bond yield ends down 16 bps at 7.62 percent, after falling as much as 18 bps, the lowest since Jan. 22. as Jaitley keeps 2016/17 fiscal deficit target<br/>* Several of India�s state-owned banks shares� gain as investors hope for more cash, despite Jaitley announcing lower-than-expected capital infusion plans <br/>* Indian rupee ended at 68.4250/68.4350, posting the biggest gains in a single day since Feb.4.<br/>* India gold futures jump 1.3 percentstrong>MODI ON TWITTER</strong"#Budget2016 will ensure a qualitative transformation in our villages and in the lives of farmers, women and marginalized sections of society.""Our commitment to rural electrification, housing for all, job creation, education and healthcare for all are strongly reaffirmed in #Budget2016."strong>FINANCE MINISTER�S COMMENTS</strong"We have a shared responsibility to spend prudently and wisely for the people, especially for the poor and downtrodden."�The government has to prioritise its expenditure. We wish to enhance the expenditure in the farm and rural sector, the social sector and infrastructure and provide for the recapitalization of the banks."�Different schools of thought have argued either in favour of fiscal consolidation and stability or for a less aggressive consolidation and for boosting growth.��I have weighed the policy options and decided that prudence lies in adhering to the fiscal targets.��We stand solidly behind these banks. Our public sector banks will be strong and competitive.�
 Asian stocks retreated on Monday after a weekend meeting of G20 policymakers ended with no new coordinated action to spur global growth and as solid US data revived expectation of the Federal Reserve further raising rates before year-end.</strongMSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.4 percent and appeared likely to post its second consecutive month of losses, with a 1.0 percent drop so far this month.Japan's Nikkei gained 0.4 percent largely on the overnight fall in the yen, though it looks set to log its third monthly fall in a row with decline of 7.2 percent so far.Mainland Chinese shares fell sharply with the bluechip CSI 300 Index briefly hitting a 15-month low.Disappointing earnings results released over the weekend, the lack of concrete measures from the group of 20 economies and political implications from the latest cyberspace crackdown by Beijing were all cited as a culprit.G20 finance ministers and central bankers agreed to use "all policy tools � monetary, fiscal and structural � individually and collectively" to reach the group's economic goals, citing a series of risks to world growth."The G20 communique basically says 1) the world is not as bad a place as markets think; and 2) if it gets worse we will use fiscal, monetary and structural policy aggressively to fix it," Steven Englander, global head of G10 FX Strategy at CitiFX, said in a note to clients."In baseball parlance, they were aiming for a single in terms of restoring confidence and they probably achieved it," he added.While some market players say the statement could mildly underpin market sentiment, the lack of any concrete action - especially on fiscal stimulus as some had speculated - was seen as a disappointment.A pledge in the statement to "consult closely" on foreign exchange markets was also seen by some market players as hindering a few countries from adopting flexible policy actions.On the other hand, fresh US economic data published on Friday revived expectations of Federal Reserve rate increases, helping to lift US bond yields and the dollar.Consumer spending rose solidly in January and underlying inflation picked up by the most in four years. Gross domestic product growth in the fourth quarter was revised higher, to a 1.0 percent annual rate"The US economy doesn't look too bad after all. So some people seem to start thinking that the Fed's rate hike could be back on the agenda," said Bart Wakabayashi, head of forex at State Street.The figures prompted Federal funds rate futures to price in a more than 50 percent chance of one rate hike by the end of year, compared to almost zero percent chance in mid-February.The two-year US Treasuries yield also hit a four-week high of 0.817 percent on Friday and last stood at 0.797 percent versus its Feb 11 low of 0.582 percent.The greenback's yield allure helped lift the dollar's index against a basket of six major currencies to a three-week high of 98.26 on Friday. It last stood at 98.13.As the dollar gained, the euro fetched $1.0920, having slipped to a three-week low of $1.0912 on Friday. In early Asia on Monday, it traded at $1.0931, flat on the day.The yen also slipped to one-week low of 114 to the dollar on Friday but bounced back 0.5 percent on Monday to 113.41.Still, with gains of 6.8 percent in February, the yen remains the best performing major currency this month as concerns over slowing global growth fanned buying in safe-haven assets.In contrast, fears of "Brexit" offered traders a good excuse to sell the British pound, which fell to a seven-year low of $1.3841.Although the British government managed to get G20 to agree to include a warning against "Brexit" in the statement, that appeared to have limited impact. The British currency is down 2.7 percent on month.Equally under pressure was the South Korean won, which fell to 5-1/2-year lows, shedding 3.4 percent this month, on worries about growth prospects in China and tensions with North Korea, despite suspected intervention by Seoul to stem the currency's fall.Elsewhere, the oil markets maintain their firmness as short-sellers have reduced their positions following major oil producing countries' decision to freeze output earlier this month.While the measure is unlikely to solve the persistent supply glut in the market, it was seen as a first step for further cooperation in the future.International Brent futures climbed 1.1 percent from their last close to $35.49 per barrel, 2.2 percent above its levels at the end of January.
 National Power Regulatory Authority (NEPRA) has accorded approval to reduction of power tariff by Rs 4.11 per unit under Fuel Adjustment Surcharge (FAS) from the month of January.</strongThe application filed by Central Power Purchasing Agency (CPPA) recommending reduction in power tariff under FAS came up for hearing in NEPRA headquarters on Monday.NEPRA has accorded approval to scale down power tariff on CPPA plea. The reduction has been allowed in FAS for the month of January.The relief of reduction in tariff will be provided to the consumers in the billing for the month of February.The reduction in tariff will not apply to K-electric and the consumers using less than 200 units electricity per month.NEPRA said that curtailment in tariff will afford relief amounting to Rs 20 billion to consumers.
 Top oil exporter Saudi Arabia is expected to raise prices for most of the crude it sells to Asia in April, following robust demand for Middle East grades, trade sources said on Tuesday.</strongThe official selling price (OSP) for flagship Arab Light could rise by about 50 cents a barrel from March, a Reuters survey of five refiners showed.Benchmark Dubai prices fell below $30 a barrel at the start of this year, boosting demand for Middle East and Russian crude in Asia.That pushed up prompt prices against future-dated ones, narrowing the market�s contango structure, one of the triggers for the OPEC kingpin to raise prices."In theory, it (Arab Light) will go up 60-70 cents," a trader with a North Asian refiner said, but added that a rise of 30-40 cents was more likely as it would have to compete with crude from Abu Dhabi National Oil Company (ADNOC).The approach of the peak summer driving season in the United States may support a bigger price hike for Arab Extra Light on stronger demand for gasoline blendstock, he said.Three of the respondents expect Saudi Arabia to limit the price increase for Arab Heavy as the grade has become more expensive than Iraqi Basra Light for March.Basra Light crude loading in March, with an API gravity of 30 degrees, is 15 cents a barrel cheaper than Arab Heavy, a second North Asian refiner said.Saudi crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.Saudi Aramco officials as a matter of policy do not comment on the kingdom�s monthly OSPs.
 Gold dipped for a second straight session on Wednesday, as global equities and the dollar rose following strong US manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.</strongOther safe-haven assets also fell, with the Japanese yen nursing broad losses, having suffered a big reversal overnight as traders in London and New York took a brighter view on the global economy.Spot gold slipped 0.4 percent to $1,226.56 an ounce by 0247 GMT, after dropping 0.5 percent in the previous session."The selling (in gold) will likely continue going into Wednesday's session, especially if we see another round of strong buying set in over global equity markets," said INTL FCStone analyst Edward Meir."All this goes to show us that gold still remains very much in the orbit of US equities and we suspect that this will remain the case for some time to come," he said.The US S&amp;P 500 Index jumped to an eight-week high on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan jumped to their highest since early January on Wednesday.Shares got a boost after data showed US manufacturing appeared to stabilize in February, with production accelerating and new orders holding steady at higher levels.The economic outlook was further bolstered by another report on construction spending that scaled a more than eight-year high in January.The US dollar rebounded against the yen and hit one-month highs against the euro on Tuesday, making commodities priced in the greenback expensive for holders of other currencies.Investors will be watching more US data to gauge the impact on stocks and the Fed's monetary policy, with the most important one being US non-farm payrolls on Friday.So far this year, gold has gained 16 percent as turmoil in equity markets and concerns over the global economy triggered speculation that the Fed will not raise US interest rates any further this year. The US central bank hiked rates for the first time in nearly a decade in December.For now, gold is also drawing support from flows into bullion-backed exchange traded funds (ETF). Assets in SPDR Gold Trust, the world's top gold ETF, rose 1.15 percent to 786.20 tonnes on Tuesday, the highest since September 2014.In physical markets, India's gold imports in January surged 62 percent compared with the same period last year, news agency NewsRise Financial reported on Tuesday, citing a government official.
 Asian shares were bound for a third straight session of gains on Thursday as upbeat data on US jobs and a rally in a range of commodities whetted risk appetites globally.</strongNotably, oil shrugged off record high US crude stockpiles as investors chose to focus on an OPEC plan to freeze production, keeping alive talk the market had bottomed from a near two-year selloff.US crude edged up a further 9 cents to $34.75 a barrel, while Brent also rose 9 cents to $37.02.MSCI's broadest index of Asia-Pacific shares outside Japan added another 0.9 percent to reach a seven-week top, having surged 2.6 percent on Wednesday.Higher prices for copper and iron ore helped Australian stocks rise 0.8 percent to their highest in almost two months. Japan's Nikkei firmed 0.8 percent, on top of a 4-percent jump the previous session."Value is starting to snap back and some sectors that pretty recently were hanging around all-time lows are showing signs of life," said Nicholas Smith, a strategist at CLSA."The general updraft in oil is helping confidence as well. Investors aren't yet ready to take on a lot of risk, but they are adding to their positions."Energy and bank stocks had led Wall Street higher on Wednesday, giving the Dow a gain of 0.2 percent. The S&amp;P 500 added 0.41 percent and the Nasdaq 0.29 percent.The calmer mood showed in the CBOE Volatility index, a measure of investor anxiety, which closed at its lowest level so far this year.Sentiment was underpinned by a report showing US private sector jobs rose a surprisingly strong 214,000 in February, adding to speculation Friday's payrolls report would also be upbeat.strong>NOT SO FAST</strongYet fissures remain in the global outlook, argued Justin Fabo, a senior economist at Australia and New Zealand Bank.Despite the latest bounce in commodities, prices were still very weak and a lot of money had been borrowed on the assumption that they would not be."China has huge potential to roil markets as the nation navigates a difficult structural transition," he said. "Asian trade, traditionally a bellwether for global growth, is in recession.""Risk is being repriced, and the ability of central banks to keep pulling rabbits out of the hat is now pretty limited."Indeed, there are plenty of worries the European Central Bank could disappoint expectations for aggressive easing when it meets next week - just as it did in December.Back then markets reacted violently when the central bank's stimulus steps stopped far short of what had been priced in, leading the euro to rocket 3 percent in just one session.Fearing a re-run, investors are holding back on shorting the euro, keeping it at $1.0871 and off a one-month trough of $1.0825. The dollar also faded a little on the yen to 113.70, after losing grip of a two-week high at 114.56.Instead, the limelight was stolen by the Australian dollar which neared its 2016 peak in the wake of surprisingly strong domestic economic data.The Aussie was taking in the view at $0.7306, up 0.3 percent on the day following a 1.7 percent rally on Wednesday.Investors warmed to the currency after data showed fourth quarter economic growth unexpectedly picked up to a healthy 3.0 percent annual clip.
 Volkswagen said on Wednesday its top management did not violate market disclosure rules and is taking legal action to fend off lawsuits claiming it had been too slow to inform investors about its rigging of diesel emissions tests.</strongVolkswagen (VW) is mounting its defences in anticipation of a report next month by US law firm Jones Day appointed by the carmaker to investigate those responsible for the biggest corporate scandal in its history.Investors have lodged dozens of lawsuits at the German regional court in Brunswick, claiming that VW failed to disclose its rigging of emissions tests until about three weeks after it had admitted its wrongdoing to US authorities on Sept. 3.VW said it had filed a statement of defence with the court in Brunswick, claiming its manipulations did not have any "stock price relevance" until Sept.18 when US regulators announced that the malfeasance had violated environmental rules."After careful examination by internal and external legal experts, the company confirms its belief that its management board duly fulfilled its disclosure obligation under German capital markets law," the company said in a statement.The German group�s own public admission of the cheating on Sept. 20 subsequently wiped out billions of euros in VW�s market value, forced out its long-time chief executive and sparked investigations and lawsuits across the world.Law firm Nieding + Barth said in January it would lodge a case with the Brunswick court, seeking hundreds of millions of euros in damages on behalf of 66 institutional investors from the United States and Britain.Volkswagen said it considered the lawsuits to be without merit.A week ago, the VW supervisory board�s top committee hired a German law firm to advise it on the liabilities the carmaker could face as a result of its scandal.More than five months after the emissions scandal broke in the United States, Europe�s leading carmaker has yet to come up with a technical fix for almost 600,000 diesel cars, and is facing a growing number of legal claims.
 Oil futures rose in Asian trade on Friday, buoyed by renewed optimism prices may have bottomed out after official US data showed oil production fell to its lowest level since November 2014.</strongBrent futures nudged up 3 cents to $37.10 a barrel as of 0147 GMT after settling 14 cents higher in the previous session. The crude benchmark is set to end the week with a gain of more than 5 percent.US crude futures had climbed 13 cents to $34.70 a barrel, after settling down 9 cents in the previous session.While US crude inventories rose to a new record of 517.98 million barrels last week, output fell for a sixth straight week to 9.08 million barrels a day, according to data from the US Department of Energy's Energy Information Administration.Cuts in US production are providing price support, but investors are also waiting for key US economic data later on Friday to give further direction, said Ben Le Brun, market analyst at Sydney's OptionsXpress."A lot of traders are keeping their powder dry in front of non-farm payroll data - it's the number one (indicator) in terms of crude consumers," he said.Positive numbers for both February payrolls and US jobs data, both due at 1330 GMT on Friday, could maintain the momentum of higher oil prices, Le Brun said"Investors are a little more confident we've seen a bottom in oil (prices)," he added. Le Brun is forecasting oil prices will hover around $40 by the middle of this year.Further cuts in US output are possible in the coming months."The tight credit market will make it difficult for US shale producers to refinance upcoming debt and we may see an accelerated decline in US oil production in 2016-17," ANZ said in a note on Friday.The decline in US production will fuel a 1.5-percent drop in oil supply by non-members of oil producers' cartel OPEC this year, the first year of non-OPEC negative supply growth since 2008, Paul Bloxham, chief Australia economist at HSBC said in a report on Friday.Non-OPEC supply is forecast to fall by 850,000 barrels a day this year, of which 760,000 barrels will be cut from U.S. production.HSBC, which kept its price forecasts unchanged, assumed an average Brent price of $45 a barrel this year, rising to $60 in 2017 and $75 thereafter.
 Finance Minister Ishaq Dar on Saturday chaired a meeting to review performance of Pakistan International Airlines (PIA).</strongSecretary Aviation Division, Muhammad Irfan Elahi briefed the minister in detail about the current economic profile of PIA and also apprised him about its immediate financial requirements.He said efforts are being made to minimize operational losses of the airline, to improve the service delivery and overall working of the airline.The minister appreciated efforts by the PIA administration for improving service delivery and reduction of operational losses.He said that as national flag carrier it was expected of PIA to ensure quality travel and cargo services in line with international standards. He said strict financial discipline coupled with quality management would get the desired service levels.He said the government was fully prepared to support all efforts aimed at improvement in PIA�s services but it was the will and spirit of its employees that mattered the most in bringing about resurgence of the airline and make it truly self sufficient. He called for continued efforts to revamp PIA.��
 Iran expects economic growth of more than 5 percent in 2016 after the lifting of sanctions on the country, state television quoted the central bank governor on Saturday as saying.</strong"Iran�s economic growth slowed down in 2015 but domestic and international predictions both indicate that growth in 2016 would be beyond 5 percent," Valiollah Seif said.Iran emerged from years of economic isolation in January when world powers led by the United States and the European Union lifted crippling sanctions against OPEC�s No. 3 oil producer in return for curbs on Tehran�s nuclear ambitions.
 �China will keep the yuan basically stable against a basket of currencies and there is no basis for continued yuan depreciation, central bank vice governor Yi Gang said on Sunday.</strongChina also will keep foreign exchange reserves at appropriate levels, Yi said.�
 Oil prices jumped on Monday, extending a rally that has lifted crude benchmarks by more than a third from this year's lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery.</strongFront-month Brent crude futures were trading at $39.49 per barrel at 0400 GMT, up 77 cents or 2 percent from their last settlement. That is up more than a third from a low hit in January, when prices fell to levels not seen since 2003.US West Texas Intermediate (WTI) futures were trading at $36.63 a barrel, up 71 cents from the last close and 40 percent above lows touched in February."It looks at this stage as if it (oil) has formed a little bit of a bottom and perhaps we're going to see a sustained price in the $30s, maybe trending back up to $40 dollars at some point," said Ben Le Brun, market analyst at OptionsXpress.Le Brun said an improved economic outlook was pushing prices: "The macro picture takes all corners of the globe into account, and those corners seem to be improving ... and that's where I'm seeing the oil price tick higher."Analysts said that strong US payroll data had pushed markets on Friday and early Monday, but that attention was now shifting to Asia.Morgan Stanley said on Monday that China's parliament, the National People's Congress, which opens its annual session this week listed "to ease market barriers for transport, oil, and gas" among key policy targets this year.On the supply side, US energy firms cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as producers slash costs.Drillers removed eight oil rigs in the week ended March 4, bringing the total count down to 392, oil services company Baker Hughes Inc said.Beyond a tightening supply outlook, traders said a shift in sentiment was also lifting prices as they shut down short positions and abandoned bets on further falls in prices.Trading data shows that the number of managed short positions on WTI contracts - which would benefit from lower prices - have fallen more than a quarter since mid-February, with many new long positions betting on rising prices being opened.Ric Spooner, chief market analyst at CMC Markets said "there's a good prospect that Brent could hit $40 ... (it) could easily do it in the next trading session."
 National Power Regulatory Authority (NEPRA) has accorded approval to reduction of power tariff by Rs 4.11 per unit under Fuel Adjustment Surcharge (FAS) from the month of January.</strongThe application filed by Central Power Purchasing Agency (CPPA) recommending reduction in power tariff under FAS came up for hearing in NEPRA headquarters on Monday.NEPRA has accorded approval to scale down power tariff on CPPA plea. The reduction has been allowed in FAS for the month of January.The relief of reduction in tariff will be provided to the consumers in the billing for the month of February.The reduction in tariff will not apply to K-electric and the consumers using less than 200 units electricity per month.NEPRA said that curtailment in tariff will afford relief amounting to Rs 20 billion to consumers.
 Top oil exporter Saudi Arabia is expected to raise prices for most of the crude it sells to Asia in April, following robust demand for Middle East grades, trade sources said on Tuesday.</strongThe official selling price (OSP) for flagship Arab Light could rise by about 50 cents a barrel from March, a Reuters survey of five refiners showed.Benchmark Dubai prices fell below $30 a barrel at the start of this year, boosting demand for Middle East and Russian crude in Asia.That pushed up prompt prices against future-dated ones, narrowing the market�s contango structure, one of the triggers for the OPEC kingpin to raise prices."In theory, it (Arab Light) will go up 60-70 cents," a trader with a North Asian refiner said, but added that a rise of 30-40 cents was more likely as it would have to compete with crude from Abu Dhabi National Oil Company (ADNOC).The approach of the peak summer driving season in the United States may support a bigger price hike for Arab Extra Light on stronger demand for gasoline blendstock, he said.Three of the respondents expect Saudi Arabia to limit the price increase for Arab Heavy as the grade has become more expensive than Iraqi Basra Light for March.Basra Light crude loading in March, with an API gravity of 30 degrees, is 15 cents a barrel cheaper than Arab Heavy, a second North Asian refiner said.Saudi crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.Saudi Aramco officials as a matter of policy do not comment on the kingdom�s monthly OSPs.
 Gold dipped for a second straight session on Wednesday, as global equities and the dollar rose following strong US manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.</strongOther safe-haven assets also fell, with the Japanese yen nursing broad losses, having suffered a big reversal overnight as traders in London and New York took a brighter view on the global economy.Spot gold slipped 0.4 percent to $1,226.56 an ounce by 0247 GMT, after dropping 0.5 percent in the previous session."The selling (in gold) will likely continue going into Wednesday's session, especially if we see another round of strong buying set in over global equity markets," said INTL FCStone analyst Edward Meir."All this goes to show us that gold still remains very much in the orbit of US equities and we suspect that this will remain the case for some time to come," he said.The US S&amp;P 500 Index jumped to an eight-week high on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan jumped to their highest since early January on Wednesday.Shares got a boost after data showed US manufacturing appeared to stabilize in February, with production accelerating and new orders holding steady at higher levels.The economic outlook was further bolstered by another report on construction spending that scaled a more than eight-year high in January.The US dollar rebounded against the yen and hit one-month highs against the euro on Tuesday, making commodities priced in the greenback expensive for holders of other currencies.Investors will be watching more US data to gauge the impact on stocks and the Fed's monetary policy, with the most important one being US non-farm payrolls on Friday.So far this year, gold has gained 16 percent as turmoil in equity markets and concerns over the global economy triggered speculation that the Fed will not raise US interest rates any further this year. The US central bank hiked rates for the first time in nearly a decade in December.For now, gold is also drawing support from flows into bullion-backed exchange traded funds (ETF). Assets in SPDR Gold Trust, the world's top gold ETF, rose 1.15 percent to 786.20 tonnes on Tuesday, the highest since September 2014.In physical markets, India's gold imports in January surged 62 percent compared with the same period last year, news agency NewsRise Financial reported on Tuesday, citing a government official.
 Asian shares were bound for a third straight session of gains on Thursday as upbeat data on US jobs and a rally in a range of commodities whetted risk appetites globally.</strongNotably, oil shrugged off record high US crude stockpiles as investors chose to focus on an OPEC plan to freeze production, keeping alive talk the market had bottomed from a near two-year selloff.US crude edged up a further 9 cents to $34.75 a barrel, while Brent also rose 9 cents to $37.02.MSCI's broadest index of Asia-Pacific shares outside Japan added another 0.9 percent to reach a seven-week top, having surged 2.6 percent on Wednesday.Higher prices for copper and iron ore helped Australian stocks rise 0.8 percent to their highest in almost two months. Japan's Nikkei firmed 0.8 percent, on top of a 4-percent jump the previous session."Value is starting to snap back and some sectors that pretty recently were hanging around all-time lows are showing signs of life," said Nicholas Smith, a strategist at CLSA."The general updraft in oil is helping confidence as well. Investors aren't yet ready to take on a lot of risk, but they are adding to their positions."Energy and bank stocks had led Wall Street higher on Wednesday, giving the Dow a gain of 0.2 percent. The S&amp;P 500 added 0.41 percent and the Nasdaq 0.29 percent.The calmer mood showed in the CBOE Volatility index, a measure of investor anxiety, which closed at its lowest level so far this year.Sentiment was underpinned by a report showing US private sector jobs rose a surprisingly strong 214,000 in February, adding to speculation Friday's payrolls report would also be upbeat.strong>NOT SO FAST</strongYet fissures remain in the global outlook, argued Justin Fabo, a senior economist at Australia and New Zealand Bank.Despite the latest bounce in commodities, prices were still very weak and a lot of money had been borrowed on the assumption that they would not be."China has huge potential to roil markets as the nation navigates a difficult structural transition," he said. "Asian trade, traditionally a bellwether for global growth, is in recession.""Risk is being repriced, and the ability of central banks to keep pulling rabbits out of the hat is now pretty limited."Indeed, there are plenty of worries the European Central Bank could disappoint expectations for aggressive easing when it meets next week - just as it did in December.Back then markets reacted violently when the central bank's stimulus steps stopped far short of what had been priced in, leading the euro to rocket 3 percent in just one session.Fearing a re-run, investors are holding back on shorting the euro, keeping it at $1.0871 and off a one-month trough of $1.0825. The dollar also faded a little on the yen to 113.70, after losing grip of a two-week high at 114.56.Instead, the limelight was stolen by the Australian dollar which neared its 2016 peak in the wake of surprisingly strong domestic economic data.The Aussie was taking in the view at $0.7306, up 0.3 percent on the day following a 1.7 percent rally on Wednesday.Investors warmed to the currency after data showed fourth quarter economic growth unexpectedly picked up to a healthy 3.0 percent annual clip.
 Volkswagen said on Wednesday its top management did not violate market disclosure rules and is taking legal action to fend off lawsuits claiming it had been too slow to inform investors about its rigging of diesel emissions tests.</strongVolkswagen (VW) is mounting its defences in anticipation of a report next month by US law firm Jones Day appointed by the carmaker to investigate those responsible for the biggest corporate scandal in its history.Investors have lodged dozens of lawsuits at the German regional court in Brunswick, claiming that VW failed to disclose its rigging of emissions tests until about three weeks after it had admitted its wrongdoing to US authorities on Sept. 3.VW said it had filed a statement of defence with the court in Brunswick, claiming its manipulations did not have any "stock price relevance" until Sept.18 when US regulators announced that the malfeasance had violated environmental rules."After careful examination by internal and external legal experts, the company confirms its belief that its management board duly fulfilled its disclosure obligation under German capital markets law," the company said in a statement.The German group�s own public admission of the cheating on Sept. 20 subsequently wiped out billions of euros in VW�s market value, forced out its long-time chief executive and sparked investigations and lawsuits across the world.Law firm Nieding + Barth said in January it would lodge a case with the Brunswick court, seeking hundreds of millions of euros in damages on behalf of 66 institutional investors from the United States and Britain.Volkswagen said it considered the lawsuits to be without merit.A week ago, the VW supervisory board�s top committee hired a German law firm to advise it on the liabilities the carmaker could face as a result of its scandal.More than five months after the emissions scandal broke in the United States, Europe�s leading carmaker has yet to come up with a technical fix for almost 600,000 diesel cars, and is facing a growing number of legal claims.
 Oil futures rose in Asian trade on Friday, buoyed by renewed optimism prices may have bottomed out after official US data showed oil production fell to its lowest level since November 2014.</strongBrent futures nudged up 3 cents to $37.10 a barrel as of 0147 GMT after settling 14 cents higher in the previous session. The crude benchmark is set to end the week with a gain of more than 5 percent.US crude futures had climbed 13 cents to $34.70 a barrel, after settling down 9 cents in the previous session.While US crude inventories rose to a new record of 517.98 million barrels last week, output fell for a sixth straight week to 9.08 million barrels a day, according to data from the US Department of Energy's Energy Information Administration.Cuts in US production are providing price support, but investors are also waiting for key US economic data later on Friday to give further direction, said Ben Le Brun, market analyst at Sydney's OptionsXpress."A lot of traders are keeping their powder dry in front of non-farm payroll data - it's the number one (indicator) in terms of crude consumers," he said.Positive numbers for both February payrolls and US jobs data, both due at 1330 GMT on Friday, could maintain the momentum of higher oil prices, Le Brun said"Investors are a little more confident we've seen a bottom in oil (prices)," he added. Le Brun is forecasting oil prices will hover around $40 by the middle of this year.Further cuts in US output are possible in the coming months."The tight credit market will make it difficult for US shale producers to refinance upcoming debt and we may see an accelerated decline in US oil production in 2016-17," ANZ said in a note on Friday.The decline in US production will fuel a 1.5-percent drop in oil supply by non-members of oil producers' cartel OPEC this year, the first year of non-OPEC negative supply growth since 2008, Paul Bloxham, chief Australia economist at HSBC said in a report on Friday.Non-OPEC supply is forecast to fall by 850,000 barrels a day this year, of which 760,000 barrels will be cut from U.S. production.HSBC, which kept its price forecasts unchanged, assumed an average Brent price of $45 a barrel this year, rising to $60 in 2017 and $75 thereafter.
 Finance Minister Ishaq Dar on Saturday chaired a meeting to review performance of Pakistan International Airlines (PIA).</strongSecretary Aviation Division, Muhammad Irfan Elahi briefed the minister in detail about the current economic profile of PIA and also apprised him about its immediate financial requirements.He said efforts are being made to minimize operational losses of the airline, to improve the service delivery and overall working of the airline.The minister appreciated efforts by the PIA administration for improving service delivery and reduction of operational losses.He said that as national flag carrier it was expected of PIA to ensure quality travel and cargo services in line with international standards. He said strict financial discipline coupled with quality management would get the desired service levels.He said the government was fully prepared to support all efforts aimed at improvement in PIA�s services but it was the will and spirit of its employees that mattered the most in bringing about resurgence of the airline and make it truly self sufficient. He called for continued efforts to revamp PIA.��
 Iran expects economic growth of more than 5 percent in 2016 after the lifting of sanctions on the country, state television quoted the central bank governor on Saturday as saying.</strong"Iran�s economic growth slowed down in 2015 but domestic and international predictions both indicate that growth in 2016 would be beyond 5 percent," Valiollah Seif said.Iran emerged from years of economic isolation in January when world powers led by the United States and the European Union lifted crippling sanctions against OPEC�s No. 3 oil producer in return for curbs on Tehran�s nuclear ambitions.
 �China will keep the yuan basically stable against a basket of currencies and there is no basis for continued yuan depreciation, central bank vice governor Yi Gang said on Sunday.</strongChina also will keep foreign exchange reserves at appropriate levels, Yi said.�
 Oil prices jumped on Monday, extending a rally that has lifted crude benchmarks by more than a third from this year's lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery.</strongFront-month Brent crude futures were trading at $39.49 per barrel at 0400 GMT, up 77 cents or 2 percent from their last settlement. That is up more than a third from a low hit in January, when prices fell to levels not seen since 2003.US West Texas Intermediate (WTI) futures were trading at $36.63 a barrel, up 71 cents from the last close and 40 percent above lows touched in February."It looks at this stage as if it (oil) has formed a little bit of a bottom and perhaps we're going to see a sustained price in the $30s, maybe trending back up to $40 dollars at some point," said Ben Le Brun, market analyst at OptionsXpress.Le Brun said an improved economic outlook was pushing prices: "The macro picture takes all corners of the globe into account, and those corners seem to be improving ... and that's where I'm seeing the oil price tick higher."Analysts said that strong US payroll data had pushed markets on Friday and early Monday, but that attention was now shifting to Asia.Morgan Stanley said on Monday that China's parliament, the National People's Congress, which opens its annual session this week listed "to ease market barriers for transport, oil, and gas" among key policy targets this year.On the supply side, US energy firms cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as producers slash costs.Drillers removed eight oil rigs in the week ended March 4, bringing the total count down to 392, oil services company Baker Hughes Inc said.Beyond a tightening supply outlook, traders said a shift in sentiment was also lifting prices as they shut down short positions and abandoned bets on further falls in prices.Trading data shows that the number of managed short positions on WTI contracts - which would benefit from lower prices - have fallen more than a quarter since mid-February, with many new long positions betting on rising prices being opened.Ric Spooner, chief market analyst at CMC Markets said "there's a good prospect that Brent could hit $40 ... (it) could easily do it in the next trading session."
 Asian shares fell on Tuesday as investors took profits after a month-long rally and investors grew wary of the market's near-term prospects ahead of major central bank meetings.</strongLed by China, MSCI's broadest index of Asia-Pacific shares outside Japan fell more than a percent. Japan's Nikkei and South Korea's KOSPI fell more than a percent each."We have seen a big move in markets in a very short period of time and investors are calling time ahead of the ECB and the Fed meetings in the coming days," said Kay Van-Petersen, global macro strategist at Saxo Bank in Singapore.The European Central Bank is widely expected to ease at Thursday's policy review, but there is a lot of uncertainty about how far it would go. Meanwhile, ahead of a US Federal Reserve policy meeting, fed fund futures were barely pricing in one more hike this year.Additionally, China's February exports data released in morning trade disappointed analysts' expectations, falling 25.4 percent from a year earlier, while imports fell by 13.8 percent.Still, risk sentiment was broadly upbeat as the impressive rally in commodities markets spilled over into an array of assets such as the high-yielding Australian dollar and mining giant Glencore, which is up 5 percent and 35 percent, respectively in a week.Some investors talked about a potential bottom being formed in the commodity markets as large bearish bets are unwound and hopes of more coordinated measures from oil-producing countries to stem tumbling prices grew.Brent crude futures jumped to as high as $41.04 per barrel on Monday, extending their recovery from a 12-year trough of $27.10 hit in January. US crude futures also rose to $38.11 per barrel, its highest since early January.Further improving the mood in the battered commodity sector, spot iron ore price surged almost 20 percent, hitting a near nine-month high on the back of China's plans to boost short-term output.Ecuador's Foreign Minister, Guillaume Long, said his government will host a meeting in Quito on Friday with Venezuela, Colombia, Ecuador and Mexico "to reach consensus over oil, especially prices."In the currency market, investors rushed back to commodity-linked currencies, sending the Australian dollar to as high as $0.7486 on Monday, its highest in almost eight months.The Aussie last stood at $0.7424.The Canadian dollar also firmed to a 3-1/2-month high of C$1.3262 per US dollar and last stood at C$1.3290.In Latin America, the Mexican peso, the Chilean peso and the Colombian peso all hit multi-month highs.While the dollar was soft in general, major currencies saw limited moves. The euro traded at $1.10240, holding near one-week highs of $1.10435, ahead of the European Central Bank's policy announcement on Thursday.The yen maintained slight gains made on Monday to trade at 113.33 yen to the dollar.The currency hardly moved in response to data showing Japan's economy shrank an annualised 1.1 percent in October-December, slightly less than an initial estimate of a 1.4 percent contractionThe dollar's weakness helped to underpin gold, which hit a 13-month high of $1,280 per ounce on Monday and last stood at $1,266.
 Oil prices dipped on Wednesday, weighed down by a strengthening US-dollar and concerns over slowing demand, although falling US production lent crude markets some support.</strongUS crude futures CLc1 were trading at $36.46 per barrel at 0219 GMT, down 4 cents from their last settlement, but still almost 40 percent above February's 2016 and multi-year low.International Brent crude futures LCOc1 were at $39.54 per barrel, down 11 cents from their last close, but still some 40 percent above their January lows for this year.The dips came as the dollar reversed recent losses against a basket of leading currencies overnight, potentially hampering oil demand as imports of dollar-traded crude get more expensive.But analysts said the main reason for the dip in prices and at least temporary end to the rally was concern over faltering demand in China, where the economy is growing at its slowest pace in a generation."The recent oil rally is looking overextended ... China's export data was horrendous," Matt Smith of Clipper Data said in a daily report.China's February trade performance was far worse than economists had expected, with exports tumbling the most in over six years.Although China imported record crude volumes of 8 million barrels per day (bpd) in February, analysts expect this figure to fall as the government scales back purchases of strategic reserves, and car sales begin to fall as the sharpest economic slowdown in a generation starts to show results.The price dips at least temporarily halted a price rally that started in mid-February on hopes that a coordinated freeze in production would stop growth in a global supply glut of at least 1 billion bpd above consumption that helped pull prices down as much as 70 percent since 2014.But OPEC-member Kuwait, this week poured cold water on hopes of such a freeze by stating that it would only cap output if all major producers participate, including Iran, which has balked at the plan.One key factor in determining the oil market balance will be US output, which the government said would be 8.19 million bpd in 2017, down from over 9 million bpd currently.But with demand growth also slowing, many analysts including influential bank Goldman Sachs, say that it will take time for markets to fully rebalance.Energy consultancy Wood Mackenzie said that it expects "the annual average (oil) price for 2016 being lower than 2015 and then recovering in 2017, reflecting large oversupply and high stock levels during the first half of 2016".It added that the main risks to its forecast were changes in demand in China and the extent to which Iran manages to increase oil exports after sanctions against it were lifted in January.
 Gold climbed to a 13-month high on Friday, buoyed by gains in the euro after the European Central Bank (ECB) signalled it was done cutting interest rates for now.</strongThe ECB on Thursday rolled out measures, including an expansion in asset buying and a deeper cut to deposit rates.But the euro hit a three-week top, and held near that level on Friday, after ECB President Mario Draghi signalled there would be no further rate cuts.Spot gold rose as far as $1,282.51 an ounce, its strongest since Feb. 3, 2015, and was trading at $1,277.20 by 0237 GMT, up 0.5 percent.Bullion climbed 1.5 percent on Thursday, its biggest single-day gain in a week, and was on course for a second weekly rise.For the year, gold has added more than 20 percent.US gold for April delivery climbed 0.4 percent to $1,277.60 an ounce, after peaking at $1,287.80.The next major resistance level for gold would be around $1,308, reached in January last year, said Ric Spooner, chief market analyst at CMC Markets in Sydney."Ultimately if this trend continues, we may well see ourselves up towards $1,400 in gold," he said.The relatively weak US dollar, despite expectations that the US Federal Reserve could raise interest rates this year, as well as concerns about a wobbly global economy should support gold prices going forward, said Spooner."Gold remains our preferred commodity/sector in view of increasing liquidity from global monetary easing," Argonaut Securities analyst Helen Lau wrote in a research note.Holdings of SPDR Gold Trust, the world�s largest gold-backed exchange-traded fund, rose to 25.68 million ounces on Thursday, the highest since August 2014.With the metal clinging to this year�s gains, physical gold demand slowed in top consumer China this week, while a strike by jewellers protesting against the imposition of a tax curbed demand in No.2 market India.Spot silver gained 0.4 percent to $15.65 an ounce, platinum advanced 0.8 percent to $983.35 and palladium was steady at $570.
 A 15-member Chinese delegation �visited Islamabad Chamber of Commerce and Industry (ICCI)here on Saturday and expressed hope that the Chinese investment in Pakistan under China Pakistan Economic Corridor (CPEC) would help generate over 10,000 more job opportunities in the country.</strongThe delegation was led by Gan Rongkun Vice Governor ofHubei Province and discussed with the local businessmen prospects of investment and joint ventures in One Belt One Road and China Pakistan Economic Corridor projects.The delegation showed interest to explore investment opportunities in energy and infrastructure development projects including constructions of roads airports and railway network in Pakistan.They said both countries have good potential to enhance cooperation in auto manufacturing steel cement power generation services industry and many other areas.They said Pakistan now has political stability and growing economy and these factors were stimulating interest in Chinese investors to explore Pakistan for investment and joint ventures.They said China State Construction Corp has already participated in many construction projects in Pakistan including Centaraus New Islamabad Airport and Chinese investors would construct a 392 KMs superhighway to connect Islamabad with other cities and industrial park in Pakistan.They also invited Pakistani businessmen to visit Hubei Province to explore business opportunities as it enjoyed strategic location in the center of China with huge business potential.In his welcome address Atif �Ikram, Sheikh President Islamabad Chamber of Commerce and Industry said that CPEC was considered a game changer for Pakistan and more Chinese investors should be encouraged to participate in this historic project for its timely completion.He said there was huge potential of investment in many sectors of Pakistan s economy including energy infrastructure mining manufacturing engineering IT and others while CPEC was poised to open new horizons of investment opportunities between China and Pakistan.He said China has good expertise and advanced technology while Pakistan offered attractive incentives to foreign investors.He urged that Chinese investors should harvest the investment friendly policies of the current regime by enhancing investment and joint ventures in Pakistan.�
 Cigarettes had disappeared from the shelves in some Saudi cities on Sunday amid speculation on social media that the government was about to raise prices on tobacco and other products that are harmful to health.</strongThree Riyadh shops visited by Reuters said they had no cigarettes for sale and social media users reported the same in Jeddah on Saturday and Sunday.Some suggested retailers were holding back stock until the government announced higher cigarette prices.In Dammam, the capital of Eastern Province, at least one shop was already selling packets of Philip Morris-branded cigarettes for 15 riyals ($4) instead of the 10 riyals previously charged, a smoker there told Reuters.The Finance Ministry said in the country�s 2016 budget statement in December that it would apply "additional fees on harmful goods such as tobacco, soft drinks and the like," but gave no date for the increased prices.Saudi Arabia wants to reduce the bill for state-subsidised healthcare for its citizens, who suffer globally high rates of obesity and related diseases such as diabetes.Its budget strained by low oil prices, the government is also trying to boost its non-oil revenues. The local Sabq.org news website quoted the Saudi Customs Authority as saying on Saturday that tobacco prices had doubled, but there was no notice of that on the government body�s website, or that of the Commerce and Industry Ministry.Neither body could immediately be reached by telephone. An executive at a tobacco distribution company told Reuters that Saudi Customs had doubled its import fee for a consignment that he tried to bring into the country on Sunday.Shoppers in Riyadh said sugary soft drinks were still available in stores with no change in price.�
 Oil prices were stable in early trading on Monday, with global oversupply and slowing economic growth weighing on markets but prospects of falling production lending some support.</strongUS crude futures were trading at $38.41 per barrel at 0239 GMT, down 10 cents from their last settlement.But international Brent futures were up 6 cents at $40.45 a barrel.While Morgan Stanley said that oil prices had likely bottomed out, it warned that a slowing economy and high production would prevent sharp rises."Oil prices now seem to have bottomed, even though they are likely to stay subdued for the rest of this year before starting to move higher in 2017," the US bank said, adding that cheap oil had not provided the economic boost to growth that many had hoped for."When oil prices are falling below production costs, the income gains for consumers will be smaller than the costs to producers and falling oil prices become a negative-sum game," it said.For 2016, the bank said it was "no longer looking for an acceleration in 2016 GDP growth" and that the risk of a global recession was now 30 percent.Following a 70 percent price rout between mid-2014 and early 2016, oil markets are in flux.Many analysts expect a modest price recovery, while others see another slump.The International Energy Agency (IEA) on Friday said that oil prices had bottomed out due to US and other output cuts outside the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC).The US rig count fell for a 12th straight week last week to a total of 386, its lowest since December 2009 as drillers continue to slash capital expenditure.Others, like Goldman Sachs, warn that ongoing global overproduction, which continues to see over 1 million barrels of crude produced in excess of demand every day, will pull prices back down again.So far, demand in core markets like China remains strong.China's January-February refinery throughput rose 4.6 percent compared to the same period a year earlier to 87.08 million tonnes (10.59 million barrels per day), official data showed on Saturday.The data release came shortly after China reported record daily crude imports of 8 million barrels per day.In traded markets, sentiment leans towards higher prices, with the amount of managed short positions open for US crude, which would profit from falling prices, down over 40 percent since mid-February, while the amount of trades betting on price increases stands near record highs."The shift in sentiment in commodity markets continues to gather strength ... The worst may be over for commodity markets," ANZ bank said.
 Bangladesh's central bank governor Atiur Rahman resigned on Tuesday following demands of accountability from the government after $81 million was stolen from the bank's U.S. account in one of the largest cyber heists ever.</strongRahman, who returned to Dhaka late on Monday after attending a weekend International Monetary Fund conference in New Delhi, told Reuters that Prime Minister Sheikh Hasina had accepted his resignation.The government also fired two deputy governors of the bank, Finance Minister Abul Maal Abdul Muhith said, days after blaming it for keeping the government in the dark about the theft.Rahman, 65, said he resigned to set an example in a country where there is not much precedence of accountability and to uphold the image of the central bank"I took responsibility," Rahman said.A former finance secretary, Fazle Kabir, would be the new governor, the finance minister said.Unknown hackers breached the computer systems of Bangladesh Bank and attempted to steal $951 million from its account at the Federal Reserve Bank of New York, which it uses for international settlements, between Feb. 4 and Feb. 5.They managed to transfer $81 million to entities in the Philippines, and the money was further diverted to casinos there.More than $30 million of the money that was stolen was handed over in cash to an ethnic Chinese man in Manila, a Philippines senator looking into the suspected laundering scheme said.Bangladesh Bank officials have said there is little hope of apprehending the perpetrators and recovering the money would be difficult and could take months.Rahman's exit could be a blow to Bangladesh, a South Asian nation of 160 million. The country has been aspiring to reach middle-income status, and Rahman was seen as one of the driving forces helping Dhaka towards that goal.A former development economics professor, Rahman took over as the central bank governor in May 2009, and was nearing the end of his second term. One of his signature achievements has been shoring up the country's foreign exchange reserves, which have increased four-fold to $28 billion under his watch.He also tried to ensure farmers and women entrepreneurs had better access to banking services and credit."He has set a good example by taking the responsibility for this incident," said Wahid Uddin Mahmud, a professor of economics at Dhaka University.���
 Pakistan�s trade deficit rose by 4.22 percent to $15.102 billion for the July to February 2016 period, compared with a deficit of $14.490 billion for the same period last year, according to the Pakistan Bureau of Statistics.</strongExports declined to $13.874 billion in the eight month period from $15.995 billion the previous year.Imports dropped to $28.976 billion from $30.485 billion.The Pakistan financial year begins in July.On a monthly basis, the trade deficit decreased to $1.513 billion in February from $1.712 billion the previous month.Exports totalled $1.791 billion in February and imports were worth $3.304 billion.
 Compressed Natural Gas (CNG) prices in Punjab have been slashed by Rs5.30 per kilogram.</strongThe new price will be applicable on the pumping stations running on Liquefied Natural Gas (LNG).The CNG will be available at Rs41.90 per kg and the new prices will be effective from tomorrow (Wednesday).Sources said the price of CNG is cut following the dialogues between CNG Association and Sui Northern Gas Company officials.This is the lowest price of CNG over the past eight years, the sources added.
 Oil prices fell in Asian trade on Tuesday, extending losses from the session before as concerns start to take hold that a six-week recovery will peter out as markets remain oversupplied.</strongSaudi Arabia and non-OPEC member Russia, the world's two largest oil exporters, along with Qatar and Venezuela said last month they would freeze output at January levels to prop up prices if other oil-producing nations agreed to join the first global oil pact in 15 years.But with U.S. crude stockpiles continuing to build and Iran showing little interest in joining major producers in freezing production, oil prices may have gained too much too soon in recent weeks."With the focus still on an output agreement, oil markets are likely to remain susceptible to further sell-offs as producers baulk at cutting production," ANZ said in a note on Tuesday.U.S. crude futures were 14 cents lower at $37.04 a barrel at 0229 GMT. On Monday, they settled down 3.4 percent at $37.18 a barrel.Brent was down 20 cents at $39.33, after finishing the last session at $39.53.Crude inventories across the United States likely hit record highs for a fifth straight week last week, rising 3.3 million barrels, a Reuters poll of analysts said.Saudi Arabia kept its crude oil production steady in February at just above 10 million barrels per day (bpd), suggesting the world's biggest oil exporter is keeping to its preliminary deal with other producers to freeze output.Meanwhile, with sanctions on Iran removed in January, Tehran is keen to increase its production of crude to levels before the restrictions hit exports.Iran currently produces around 3.1 million bpd of oil. The sanctions also cut crude exports from a peak of 2.5 million bpd before 2011 to just over 1 million bpd in recent years.
 Asian stocks slipped on Tuesday and the dollar firmed as investors braced for policy decisions from major central banks this week, with all eyes on the Bank of Japan's decision later in the day after it stunned markets in January by adopting negative rates.</strongMSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.7 percent, backing off a 2-1/2-month high on Monday.It was dragged down by a 1.2 percent fall in resource-heavy Australian shares and a 0.7 percent drop in Hong Kong."Markets are not expecting another round of stimulus so soon after January's surprise from the BOJ and overall sentiment has become more cautious after the recent risk rally," said Frances Cheung, a rates strategist at Societe Generale in Hong Kong.With the global economy slowing and many countries facing deflationary pressures, investors' attention was squarely on policy decisions from the world's major central banks.The Bank of Japan is expected to announce its policy decision between 0230-0430 GMT on Tuesday, followed by the U.S. Federal Reserve on Wednesday and the Bank of England and the Swiss National Bank on Thursday.The BOJ is widely expected to keep policy unchanged after its surprise decision in January to introduce negative interest rates raised worries about banks' profitability.Notwithstanding the BOJ's decision, Steven Englander, global head of G10 FX strategy at Citibank, reckons investors are more interested in the Fed statement on Wednesday to gauge how important global vulnerabilities stack up against an upswing in domestic activity for U.S. policymakers.The Fed is unlikely to raise rates this week but it will likely make clear that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won't stop rates from rising fairly soon.A consensus in the market is that fresh forecasts from the Fed's 17 officials released after the meeting will signal perhaps two or three rate hikes this year, a retreat from their projection in December for four or more increases in 2016.Financial markets are much more cautious with Fed fund futures are pricing in a 50 percent probability of a rate increase by June and one full rate hike by December.The mood in credit markets also was noticeably more cautious, with investors happy to stay in high quality government debt such as U.S. Treasuries and German Bunds rather than venturing into higher-yielding corporate paper.The 10-year U.S. notes yield stood at 1.969 percent, off a six-week high of 1.986 percent hit on Friday.In credit markets too, a recent rally seems to be petering out. An index of high yield credit fell after rising 9 percent over the last month.Even oil prices, whose rebound over the last month triggered a global rally in risky assets, were running out of steam on concerns that a six-week market recovery may have gone beyond fundamentals. U.S. crude stockpiles continue to rise and Iran is seen showing little interest in joining major producers in freezing production.U.S. crude futures last traded at $37.05 a barrel, up slightly from Monday.On Monday, they fell 3.4 percent to $37.18 a barrel, while Brent finished down 2 percent at $39.53.In currency markets, the euro slipped further from its three-week high hit after European Central Bank President Mario Draghi indicated he does not plan further cuts in interest rates.The euro traded at $1.1111, off Thursday's high of $1.1218. The yen was little changed at 113.64 to the dollar while the British pound changed hands at $1.4276, off Friday's three-week high of $1.4437.
 Oil prices rose on Wednesday after falling the previous session on expectations US output will decline further as some producers are under increasing financial distress and as early inventory data showed a less-than-expected increase.</strongUS crude futures CLc1 were trading at $36.86 per barrel at 0247 GMT, up 52 cents from their last settlement.Brent LCOc1 was up 39 cents at $39.13 a barrel.Oil rose after prices dropped about 2 percent the previous session.Inventory data from the American Petroleum Institute showed on Tuesday that US crude stockpiles rose 1.5 million barrels last week, less than half of what was expected by an analyst poll, lending markets some support.The US government's Energy Information Administration (EIA) will issue official production and inventory figures later on Wednesday. That data is expected to show crude inventories rose to a record for a fifth straight week."For today, we may see some strength for prices coming from possible US production declines," said Singapore-based Phillip Futures in a note today, although it does not expect US and Brent prices to rise higher than $39.83 and $40.17 per barrel, respectively.US shale producer Linn Energy said on Tuesday that bankruptcy may be unavoidable as the company missed interest payments amid a slump in oil prices of as much as 70 percent since mid-2014.Other companies, also fighting for survival, are seeking risky and costly borrowing from private equity firms.Despite Wednesday's price rises, oil markets remain dogged by a global glut which sees over 1 million barrels of crude pumped every day in excess of demand.And analysts warned that a recent bull-run which saw crude markets jump over 40 percent from multi-year lows earlier this year was overblown and largely driven by speculative traders buying crude from producers who were selling it as a financial hedge."Producers are not buying the rumour-mill... In fact, it is just the opposite: speculators are buying what producers are selling... Speculators are record long Brent (on ICE) while producers are record short... Who do you think is going to win out?" said the US-based The Schork Report in a note to clients.Fundamentally, there are few changes to the supply balance.While Saudi Arabia and Russia have proposed to freeze their output at January volumes, near record levels of over 10 million barrels per day (bpd) each, Iran has said it would only participate once its production hits 4 million bpd from a current 3 million bpd."Any such deal (to freeze output) would still not be a game changer. It would really just maintain the excess supply that is now in place," Thomas Pugh of Capital Economics said in a note.
 Asian shares gained across the board on Thursday and the dollar was on the defensive after suffering substantial losses as risk appetite revived after the U.S. Federal Reserve reduced the number of interest rate hikes expected this year.</strongThe potential for more money to continue flowing into commodities and equities, rather being lured by higher U.S. interest rates, boosted crude oil and emerging market stocks.MSCI's broadest index of Asia-Pacific shares outside Japan climbed to a two-month high and was last up 2.1 percent.Japan's Nikkei brushed aside a stronger yen and advanced 1.4 percent. Australian stocks added 0.8 percent, South Korea's Kospi rose 1.2 percent and Shanghai was up 0.6 percent.Asian equities took their cue from Wall Street, where the S&amp;P 500 closed at its highest level this year following the U.S. central bank's cautious message.The Fed concluded a closely watched two-day policy meeting on Wednesday by leaving interest rates untouched, as expected, and signalling fewer rate hikes in coming months as the United States continues to face risks from an uncertain global economy."Removing interest rate risk from the near horizon has been enough to coax money back into risky assets, but price increases in gold and the depreciation of the dollar would indicate that quantification of the degree of risk still varies greatly," said Martin King, co-managing director at Tyton Capital Advisors.Global growth concerns, particularly regarding China, have rattled markets through much of the this year, and this was seen to have influenced the Fed's position."In our view, the Fed has become increasingly responsive to changes in financial conditions. We believe this sensitivity is a problem since we see the Fed's intended policy actions as contributing to the very financial conditions that led to its eventual inaction," strategists are Barclays wrote.The dollar index hovered near a one-month low of 95.539 hit overnight after the Fed reduced its expectations for interest rate hikes in 2016 to two from four.The euro was near $1.1244, its highest since March 15. The dollar traded at 112.735 yen following a dip to a one-week trough of 112.335.Commodity-linked currencies rose strongly as products such as oil and iron ore soared after the Fed's decision.The Australian dollar, which already jumped 1.2 percent overnight, caught a fresh lift from an upbeat local jobs report and rose to an eight-month high of $0.7620.The Canadian dollar was firm at C$1.3100 to the dollar after rallying nearly 2 percent to a four-month peak of C$1.3094 overnight.Emerging market currencies such as the Malaysian ringgit and Indonesian rupiah also firmed. The South Korean won was at its strongest against the dollar since the end of December.Oil prices also rose as major producers firmed up plans to meet in Qatar to discuss an output freeze. U.S. crude oil rose to a three-month peak of $39.38 a barrel after surging nearly 6 percent overnight.Three-month copper on the London Metal Exchange traded up 1.5 percent at $5,000 a tonne. A weaker greenback tends to favour commodities traded in dollars by making them cheaper for non-U.S. buyers.Spot gold slid 0.2 percent to $1,259.61 an ounce as the precious metal lost steam following Wednesday's 2.5 percent surge.Spot iron rose 1.5 percent to $52.50 a tonne late on Wednesday, helping the metal reverse some the steep losses suffered over the past week.
 US oil futures touched new highs for 2016 on Friday, adding to strong gains the previous session as optimism grew that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.</strongUS crude was up 5 cents at $40.25 barrel at 0211 GMT, after rising as far as $40.55 - its highest so far this year. But the contract also fell to as low as $39.96 earlier on Friday.On Thursday, US crude rose 4.5 percent to close at $40.20, after climbing as high as $40.26.Brent crude's front-month contract was up 1 cent at $41.55. It finished up $1.21 at $41.54 a barrel on Thursday, after earlier reaching the year's peak of $41.60, a level that was matched earlier on Friday.Oil prices have surged more than 50 percent from 12-year lows since the Organization of the Petroleum Exporting Countries floated the idea of a production freeze, boosting Brent from about $27 a barrel and US crude from around $26.US oil is heading for a fifth week of gains, the longest rising streak in about a year, while Brent is on course for a fourth weekly increase, the longest run in about 12 months.But some are urging caution after the strong gains."Global fundamentals are little changed and oil has instead been lifted by higher risk-appetite," BNP Paribas said in a note."A dialogue among key producing countries to address oil output will at best yield a decision to freeze output, but not the much-needed reduction required to rebalance the market," BNP said.BNP estimates there will be a 1 million barrel increase in global stocks by the end of the first half of 2016.Still, a weakening dollar after a Federal Reserve policy decision on Wednesday that indicated two US rate hikes this year instead of four is also attracting oil buyers that hold other currencies.OPEC kingpin Saudi Arabia and non-OPEC producers led by Russia will meet on April 17 in the Qatar capital Doha, aiming for the first global supply deal in 15 years.
 Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.</strongMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent in early trade, entering positive territory for the year for the first time during Asian hours.That echoed a recovery on Wall Street, where the S&amp;P 500 Index gained 0.66 percent to close at its highest since Dec. 31, led by the materials and energy sectors.Japanese shares bucked the trend as the dollar's fall against the yen is seen hurting the country's exporters, with the Nikkei .N225 dipping 0.4 percent.The US dollar extended its broad slide triggered by Wednesday's Federal Reserve statement showing the US central bank would raise rates at a slower pace than its previous forecast."The Fed was dovish in every respect. Its policy statement, comments from (Fed Chair Janet) Yellen and its economic projections," said Shuji Shirota, head of macro economics strategy group at HSBC in Tokyo.The dollar's index against a basket of six major currencies fell to a five-month low of 94.65 on Thursday. It last stood at 94.796.The euro scaled a five-week high of $1.1342 and fetched $1.1318 in early Asian trade. The yen hit a 16-1/2-month high of 110.67 to the dollar and last traded at 111.38 yen.Even the British pound which has been dogged by worries about "Brexit" from the European Union, rose to a one-month high of $1.4504.The Australian dollar shot up to $0.7660, its highest in 8-1/2 months, helped by a recovery in commodity prices.Oil prices soared, with US crude surging 5 percent on Thursday to pierce the $40 barrier, as the market was propped up by optimism that major producers may strike an output freeze deal next month.OPEC kingpin Saudi Arabia and non-OPEC producers led by Russia will meet on April 17 in the Qatar capital Doha, aiming for the first global supply deal in 15 years.The front-month in US crude's West Texas Intermediate (WTI) futures CLc1 extended gains on Friday to as high as $40.55 a barrel, its highest in more than three months, and last stood at $40.35, up 0.4 percent.Brent crude's front-month LCOc1 reached the year's peak of $41.60 and was last at $41.48.Copper CMCU3 also hit a four-month high of $5,075 a tonne while silver hit a 4-1/2-month high of $16.03 per ounce.
 Prime Minister, Nawaz Sharif has approved the Strategic Trade Policy Framework (STPF) 2015-18.</strongThe mid-term strategic trade policy framework was formulated through an extensive consultative process spanning over almost a year, keeping in view the current trends in global trading environment and the declining trend witnessed in Pakistan�s exports during 2015 due to exogenous shocks coupled with domestic factors and inelastic import demand, said a press release of the PM House media wing on Sunday.A Trade Committee (TC) headed by Federal Minister for Commerce has also been established which would monitor the implementation of STPF 2015-18.It would remove bottlenecks, examine issues relating to trade promotion, strengthen international competitiveness and presenting Annual STPF Implementation Report to Cabinet Committee on Production &amp; Exports as well as Federal Export Development &amp; Promotion Board (FEDPB).Learning from the previous two medium term frameworks i.e. STPF 2009 12 and STPF 2012-15 it had been ensured that procedural and budgetary bottlenecks were removed in the STPF 2015-18 to achieve the targets of enhancement of annual exports to US 35 billion, Improvement in Export Competitiveness, Transition from factor driven economy to efficiency driven and innovation driven economy and Increasing Share in Regional Trade through key enablers of Competitiveness Compliance to Standards Policy Environment and Market access.All business processes have simultaneously been formulated and budgetary allocation of Rs 6 billion had been approved to implement the trade policy initiatives for year 2015-16 while continued budgetary support in financial year 2016-17 and 2017-18 has been proposed.Under the STPF 2015-18, a short term export enhancement strategy has also been devised that included the identification of focus products focus markets and market linked focus products.The estimated cost of the short term export enhancementmeasures is Rs 450 million for the year 2015-16 and Rs 1,450 million for three years i.e 2015-18. These amounts are included in the overall allocation for the STPF.The STPF 2015-18 has identified four main pillars i.e. product sophistication and diversification (research and development value addition and branding); market access (enhancing share in existing markets exploring new markets trade diplomacy and regionalism); Institutional development and; strengthening (restructuring capacity building and new institutions) and Trade facilitation (reducing cost of doing business standardization and regulatory measures).<br/>All the stakeholders in the public and private sector including Federation of Pakistan Chambers of Commerce and Industry, district chambers trade associations, private businesses academia, think tanks, trade missions, Ministries, Divisions and other government agencies had been actively engaged in formulation of the STPF that culminated with comprehensive deliberations during the Advisory Council Meeting chaired by the Minister for Commerce and attended by the stakeholders as well as prominent exporters and public sector decision makers.�
 The government on Monday announced the Automotive Policy 2016 carrying incentives and reduced duties for new entrants and existing vehicle manufacturers with the hope to bring in well known international brands to the Pakistani market. </strongAddressing a press conference here Minister for Water and Power Khawaja Asif said the new automotive policy approved by the Economic Coordination Committee (ECC) would be valid for five years till 2021.Under the new policy, he said duties for imported parts which were not made in Pakistan would be reduced from 32.5 per cent to 30per cent and for those which were made in Pakistan would be cut from 50 per cent to 45 per cent from next financial year (July 1, 2016).From the financial year 2017-18, duties on locally finished vehicles would be reduced by 10 percent, he added.The minister said the policy was prepared with input form all the stakeholders including ministries of finance, industries and production, Federal Board of Revenue and other players.He said the government acknowledged the contribution of automotive industry in large scale manufacturing.The auto makers could not properly take advantage of a captive market as was done by motorcycle manufacturers.He said under green field investment incentives were provided for installation of new and independent automotive assembly and manufacturing facilities by an investor for the production of vehicles not already being manufactured in Pakistan.�Companies would be encouraged to set up new plants and bring equipment without paying duties,� he added.He said most manufacturers could only be called assemblers as they were using obsolete technology. �The policy was aimed at improving technology and features like air bags, anti lock braking system and fuel efficiency,� the minister added.Khawaja Asif said at present Pakistan was not producing any exportable vehicle as the companies lacked international standards.The companies even abandoned deletion programme and were not meeting any engine specifications used worldwide, he added.The minister said the government would continue to regulate and strike a balance between imported cars and local manufactured ones to protect interests of consumers.The government was getting valuable revenue from import of vehicles, he added.He said the consumers were exploited for the last 25-30 years and the new policy tried to protect interest of the buyers.The minister said the policy would protect investment of new entrants and its consistency would be ensured.He said the recall policy for vehicles was also taken into account.Board of Investment (BoI) Chairman Dr Miftah Ismail said the closed sick units would be given incentives so that they could begin production. �Those who would open plants would get duty exemptions,� he added.He said green field investment was aimed at providing a level playing field to new entrants who were required to make huge investment for opening dealerships and setting up plants.�If the vehicle market spread to five players instead of the existing three then it could benefit the consumers,� he noted.He said the bus and truck manufacturing sector would also be promoted through the new policy.Chief Executive Officer of Engineering Development Board, Tariq Ejaz Chaudhry said an automobile institute would be established and international standards by a forum for harmonization for vehicle regulations Working Party 29 would be adopted to raise standards of the automotive industry.
 Spot gold eased on Monday, but found support from a weaker dollar as the US and European central banks kept alive the prospect of cheaper capital for longer.</strongAs central bank rhetoric turns more dovish, investors will search for further hints of easing in a week with few data releases to indicate whether years of loose monetary policy are having any material effect.Central banks however are leaving themselves with fewer policy tools, which means there's a diminishing window for fresh upside for gold based on further easing steps, said chief investment officer Jonathan Barratt of Ayers Alliance in Sydney."In my mind there's still concerns out there on price."Spot gold edged down by 0.2 percent to $1,252.21 an ounce by 0208 GMT, having finished last week a tad higher. Prices are consolidating below a 14-month peak of $1,282.51 struck on March 11, which was the loftiest since Jan 2015. Prices had slumped below $1,050 a tonne in December.US gold eased by 0.1 percent to $1,253.10.Market indicators are flashing signs that investors see inflation - after it was almost non-existent since the credit crisis - on the rise, despite scepticism from the Fed and the relatively slow pace of US economic growth.Inflation tends to burnish the investment allure of commodities because it consists of a rise in the value of hard assets.Supporting precious metals, the dollar stayed on the defensive early on Monday, having extended its losses for a third week in the wake of dovish signals from the Federal Reserve.Money managers trimmed their bullish gold bets from a 13-month high in the week to March 15, as they also cut a net long position in copper, US Commodity Futures Trading Commission data showed on Friday.In other metals, platinum and palladium edged down half a percent to $967 and $585.72 respectively.
 Most Asian stock markets slipped on Monday after three consecutive weeks of gains as a retreat in oil prices made investors cautious, but losses were tempered by hopes that China may soon cut interest rates again as pressure on the yuan eases.</strongThe wobbles in the oil market, a general downturn in commodities and cooling growth in China have rattled financial markets in recent months.Fears about the outlook for global growth were also instrumental in the US Federal Reserve's move last week indicating a slower path for future rate increases.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent after entering positive territory for the first time this year on Friday. It is up 16 percent from January's lows. Japanese markets were closed for a holiday."Despite the current rally in risk, we are more inclined to be broadly bearish on emerging markets given the underlying weakening trend," said Frances Cheung, head of rates strategy, Asia ex-Japan at Societe Generale in Hong Kong.Stocks in China and Hong Kong rose, but equity markets elsewhere in the region edged lower with Taiwan and Australia leading losses.In the absence of any fresh major economic data in a holiday-shortened week, investors were left to ponder the softer tightening bias from the Fed even as the US economic recovery appeared to be gathering fresh steam.Dollar bulls were hit hard last week after the Fed's less hawkish stance which cut the projected rate hikes for the rest of the year by half to only two. Financial markets, as seen by money market futures, are barely pricing in one.Fed Chair Janet Yellen sounded doubtful that a recent firming in US inflation would be sustained, suggesting the central bank is in no hurry to tighten policy.Some such as Francis Cheung, China strategist at brokerage CLSA, said the Fed's renewed caution would encourage Beijing to pursue with its own stimulus measures to boost the economy. He expects an interest rate cut in the second quarter."We see this rally continuing until the second quarter with property materials, internet and industrials sectors in demand," CLSA's Cheung said pointing to relatively cheap valuations.On a trailing price-to-earnings basis, the MSCI Asia ex-Japan is trading at 12.3 times, nearly one standard deviation below its 20 year average. At 9.3 times, Hong Kong's stock market was trading comfortably below one standard deviation its 20-year average.China's economy is showing signs of improvement while capital outflows from the country are moderating, top Chinese officials said on Sunday.Easing outflows and the softer dollar are resulting in less pressure on the yuan currency, which could give the central bank more confidence to cut interest rates and banks' reserve requirements again after largely weak data in January and February, some market watchers say.However, softer oil prices dampened sentiment.Oil slipped for a second session, extending Friday's slide of over 1 percent after the US rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal had helped boost the market to 2016 highs.US West Texas Intermediate (WTI) futures fell more than 1 percent to $39.01 per barrel after briefly topping $41, its highest since last December.Brent crude edged lower to $41.04 per barrel after hitting this year's peak of $42.54 per barrel.Rate markets also cheered the Fed's cautiousness with 10-year and two-year US yields down by 14 and 16 basis points since the US central bank's meeting last week.Credit markets basked in the afterglow of the recent rally with an index of high-yield credit extending gains to be up 9 percent in roughly a month.In currencies, the dollar index was little changed at 95.01, not far from a five-month trough of 94.578 set on Friday.The greenback fetched 111.31 yen, still within reach of Friday's 17-month low of 110.67. The euro, which last week scaled a one-month peak of $1.1342, stood at $1.12830.The Australian dollar consolidated gains after hitting its highest level in nine months last week at 0.7681 per dollar. It was changing hands at 0.7591 on Monday.
 European stocks fell on Tuesday and safe-haven assets, gold and government bonds rose in price after two explosions at Brussels airport.Travel sector stocks including airlines and hotels fell the most, pulling the broader indices down from multi-week highs as reports on the scale of the carnage in the Belgian capital unfolded.The cause of the blasts was unknown, but they occurred four days after the arrest in Brussels of a suspected participant in November militant attacks in Paris that killed 130 people. Belgian police had been on alert for any reprisal action."Anything like the events we're seeing in Brussels this morning is going to weigh on risk sentiment and risk appetite," said Michael Hewson, chief market strategist at CMC Markets in London."Coming up to the Easter holiday, people are going to be very reluctant to put more money into these (stock) markets. If anything, they will be more likely to take money out," he said.In early European trade the FTSEuroFirst 300 index of leading shares was down 1 percent at 1,326 points. Germany's DAX was down 1.2 percent and Belgian stocks were down 0.8 percent.The STOXX Europe 600 Travel &amp; Leisure index was the top sectoral faller, down 2.2 percent. Shares in major European airlines were down as much as 4 percent, and hotel company Accor fell 4.1 percent.Gold rose more than 1 percent to $1,257 an ounce, and the yield on benchmark 10-year U.S. Treasury and German government bonds both fell around 4 basis points to 1.88 percent and 0.19 percent.Earlier in Asia, stocks edged lower as hawkish comments from U.S. Federal Reserve officials indicated that interest rate hikes could be on the way sooner rather than later.
 Asian stocks slipped on Tuesday as hawkish comments from US Federal Reserve officials clouded the monetary policy outlook less than a week after Fed Chair Janet Yellen had set out a more cautious path to interest rate increases this year.</strongThe dollar got a mild boost from the suggestion that interest rate hikes could be on the way sooner rather than later.Atlanta Fed President Dennis Lockhart said the central bank might be in line for a rate hike as soon as April, as policymakers' decision to hold rates steady last week was more about ensuring that recent global financial volatility had settled down.San Francisco Fed President John Williams told Market News International he would advocate another hike as early as April, and Richmond Fed President Jeffrey Lacker said US inflation is likely to accelerate in the coming years and move toward the Fed's 2 percent target.MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent, after all three US stock indexes posted small gains overnight.Japan's Nikkei stock index added 2.1 percent, reopening after a public holiday on Monday and getting a tailwind from a weaker yen."People who bought the yen and sold stocks last week seem to be unwinding their positions," said Takuya Takahashi, a strategist at Daiwa Securities in Tokyo.The dollar nursed losses last week after the Fed halved its outlook for interest rate increases to two from four by the end of this year and said an uncertain global outlook posed risks to the US economy. The latest round of official Fed remarks allowed the greenback to take back some of that lost ground.The dollar index, which tracks the US unit against a basket of six major rival currencies, added 0.1 percent to 95.417.The dollar rose 0.1 percent against the yen to 112.11, pulling well away from Thursday's 17-month low of 110.67.The euro edged down slightly to $1.1237, moving away from last week's one-month peak of $1.1342.Sterling inched higher but remained pressured by concerns about Prime Minister David Cameron's ability to keep Britain in the European Union after leading 'Out' campaigner Iain Duncan Smith resigned from the cabinet late on Friday.Sterling was last buying $1.4374, well below Friday's one-month high of $1.4514."A bit of internal party bickering doesn't normally impact sterling but this time it has because of the possible implications for Brexit," Jasper Lawler, market analyst at CMC Markets, said in a note.US crude prices dipped after gaining overnight on data showing a drawdown at the Cushing, Oklahoma delivery hub.Prices fell about 0.3 percent to $41.40 a barrel after rising 1.19 percent in the previous session. Brent fell 0.4 percent to $41.36 after settling up 0.8 percent on Monday.Spot gold was steady at $1,243.30 an ounce after logging three losing sessions.
 The total liquid foreign reserves held by the country stood at 20.52 billion dollars on March 18, 2016, according to State Bank of Pakistan.</strongGiving the break up of the foreign reserves position a statement of the SBP said that foreign reserves held by the SBP stood at 15.63 billion dollars while net foreign reserves held by banks were 4.89 billion.The SBP said that during the week ending March 18, 2016, the SBP�s liquid foreign exchange reserves decreased by 229 million dollars 15.63 billion compared to 15.85 billion in the previous week.The decrease in reserves is mainly attributed to payments of 223 million dollars on account of external debt servicing.
 US oil prices fell in Asian trading on Thursday, adding to a slump in the previous session, after stockpiles rose for the sixth week to another record, sapping the strength of a two-month rally in prices.</strongUS crude futures CLc1 were down 10 cents at $39.69 a barrel at 0302 GMT, trading further below the important $40 level.It closed down $1.66, or 4 percent, at $39.79 a barrel on Wednesday. That marked the sharpest one-day drop for the front-month contract in U.S. crude since Feb. 11.Brent crude futures LCOc1 were up 7 cents at $40.54 a barrel, after trading lower earlier in the session. They finished the last session down $1.32, or 3.2 percent, at $40.47 a barrel.Earlier this week, both benchmarks had risen by more than 50 percent from multi-year lows that hit in January.The US government's Energy Information Administration (EIA) said crude stockpiles climbed by 9.4 million barrels last week - three times the 3.1 million barrels build forecast by analysts in a Reuters poll.The continued rise in stockpiles is grinding away at the gains in prices that were largely driven by plans of major producers, including Saudi Arabia and Russia, to freeze production."OPEC production is still high and Iran is expected to continue to ramp up," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo"I expect crude to come back down again and test the $35 level again if we continue to get builds," he said.The market was also supported by a release showing crude stockpiles at the Cushing, Oklahoma, delivery hub - an important data point - fell for the first time in seven weeks.Things could get worse for oil bulls, with trading houses betting on oil markets being over supplied for at least two more years and looking to extend or lock in new leases on storage tanks.
 Oil prices steadied on Thursday, paring losses after a renewed drop in US oil rigs, but analysts and traders said there could be another selloff in the coming week if US crude stockpiles hit record highs again.</strongEarlier in the day, US crude futures slid 4 percent and Brent below $40 a barrel, extending bearish sentiment from Wednesday when the US government reported a crude inventory build three times above market expectations.But data later on Thursday from oil services firm Baker Hughes, showing US oil drillers cutting 15 rigs this week after a pause last week, boosted sentiment. The US oil rig count now stands at 372, the lowest since November 2009.US crude's front-month contract CLc1 settled down 33 cents at $39.46 a barrel, recovering from a session low of $38.33. For the week, it rose two cents, finishing up for a sixth straight week.Brent's front-month LCOc1 settled down 3 cents on the day at $40.44 a barrel, after an earlier drop to $39.22. For the week, it fell 76 cents, or nearly 2 percent, its first decline in six weeks.Despite the stumble, oil prices remain about 50 percent higher from multi-year lows hit in January from glut worries. While declining US oil output and strong gasoline demand were responsible for some of that recovery, the bulk of it was powered by major producers' plans to freeze output at January's highs.While this week's drop of oil 15 rigs was not a game changer to the market, it offered a reprieve to worries that there was a daily glut of some two million barrels in crude."After last week's increase of one rig, some may have assumed that the continuing decrease in rig counts was finally abating," said Pete Donovan, broker at Liquidity Futures in New York. "Apparently not so."Others braced for further price weakness from more US inventory builds."We see limited bullish assistance to the complex from a fundamental vantage point," said Jim Ritterbusch of Chicago-based oil consultancy Ritterbusch &amp; Associates.Shares on Wall Street, trading in tandem with crude most of this year, also clawed back from the lows of the day, helping oil recover.The dollar meanwhile, erased early gains that made oil and other commodities denominated in the greenback less affordable to holders of the euro and other currencies.Volumes in oil were thin ahead of the Good Friday and Easter break, making it easier to retrace losses after sentiment swung.
 The dollar firmed on Monday and stocks in North Asia rose after fairly strong consumer spending led to an upward revision in US economic growth in the fourth quarter, helping to underpin investor sentiment.</strong"As long as the US economic recovery is continuing, I would think the rally in global equity markets will continue," said Takeru Ogihara, chief strategist at Mizuho Trust Bank. US stock futures ticked up 0.3 percent, although they remain flat for the quarter.The dollar index against a basket of six major currencies rose 0.2 percent to 96.378, its highest in almost two weeks. The dollar rose 0.6 percent to 113.64 yen, keeping intact its steady recovery from a 6-1/2-month low of 110.67 hit on March 17.That gave Japan's Nikkei a 0.7 percent boost to a 1-1/2-week high.Shares in Korea were little changed, and Taiwan advanced 0.1 percent, while Chinese stocks added 0.6 percent.Share markets in Australia, New Zealand and Hong Kong were closed for holidays. That left MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent, with Southeast Asian markets having a larger-than-usual impact.Indonesia, Malaysia and the Philippines, which were all trading between 0.2 percent and 0.8 percent lower, while Singapore was little changed.Gold was also a casualty of the dollar's strength, with spot gold sliding 0.5 percent to its lowest in a month.US gross domestic product increased at a 1.4 percent annual rate in Oct-Dec, above the previously reported 1.0 percent pace, the third GDP estimate showed on Friday.With the US seen as one of the brightest spots in the global economy, signs of resilience there are pivotal to boosting market sentiment.The euro was little changed at $1.1154, not far from Thursday's one-week low of $1.1144.The Australian dollar was steady at $0.7502 having lost 1.4 percent last week and knocked away from an eight-month high of $0.7681.In the past week, the dollar has been helped by comments from some Fed officials indicating that policymakers think they could raise interest rates as early as next month.US PCE inflation data due at 1230 GMT could fan expectations of an early rate move if it shows increasing inflationary pressure."The PCE inflation has been rising of late. The Fed has said the prices will be the key in determining policy so the data should attract a lot of attention," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.The annual core PCE inflation rose 1.7 percent in January, the fastest pace since July 2014.The data will be followed by a speech from Federal Reserve Chair Janet Yellen on the economic outlook and monetary policy on Tuesday. A few other Fed policymakers are also due to speak on the same day, making the Fed's policy the biggest focus for now.Given that money markets are pricing in only about a 50 percent chance of a rate hike in June, with hardly any significant likelihood in April factored in, signs of a tightening in the next quarter could rattle financial markets.Oil prices, which have risen about 50 percent since multi-year lows hit in January, extended their gains in thin trading, powered by major producers' plans to freeze output at January's highs.US crude futures gained 0.8 percent to $39.79 per barrel, and Brent advanced 0.8 percent to $40.75.��
 �The imports of mobile phone rose by 6.77 percent in the first eight months (July- February) of current fiscal year (2015-16) as compared to same period of last year.</strongThe mobile phone imports increased to 497.192 million during the period July February (2015-16) from 465.649 million during the period July January (2014-15).According to latest data released by Pakistan Bureau of Statistics (PBS), the imports however fell on year on year basis by 12.63 percent from 73.156 million in February 2015 to 63.915 million in February 2016.Likewise on month on month basis the mobile import posted a growth of 9.8 percent as it was recorded at 58.213 million in January 2016.The overall telecom import during first eight months of current year fell by 3.84 percent from 97.193 million last year to 96.362 million during the period of current fiscal year.On year on year and month on month basis the telecom import increased from 115.443 million in February 2015 and 104.761 million in January 2016 to 125.995 million in February 2016 thus showing an increase of 9.14 percent and 20.27 percent respectively.Meanwhile according to a senior official at Ministry of Information Technology and Telecommunication the manufacturing and assembling of mobile handset units at a local level is expected to start from April this year in the country.
 Oil prices fell on Tuesday as concerns mount that a rally since January is fizzling out, while analysts forecast another rise to record levels for US crude stockpiles.</strongUS oil CLc1 was down 30 cents at $39.09 a barrel at 0553 GMT, after finishing down 7 cents at $39.39, the previous session.Brent LCOc1 fell 35 cents to $39.92. On Monday it settled down 17 cents at $40.27 a barrel.US commercial crude oil stockpiles were expected to have reached record highs for a seventh straight week, while refined product inventories likely fell, a preliminary Reuters survey showed late on Monday.The poll of eight analysts, taken ahead of weekly inventory reports from industry group the American Petroleum Institute (API) and the US Department of Energy's Energy Information Administration (EIA), estimated, on average, that crude stocks rose 3.2 million barrels in the week ended March 25.The API will release its data on Tuesday at 2030 GMT, while the EIA will publish its data on Wednesday at 1430 GMT.Both oil benchmarks are up about 50 percent from 12-year lows hit in mid-February but the oil market has taken on a weaker tone in the past week, along with other commodities."The numbers continue to suggest a supply glut and I suspect that more talk is relevant out of OPEC and Co to help the price stand up or to help it remain relatively stable," said Jonathan Barratt, Chief investment officer at Ayers Alliance in Sydney.He was referring to plans by the Organization of Petroleum Exporting Countries and other major suppliers including Russia to meet next month to discuss an output freeze in the hope they can support prices.The plans for the April 17 meeting in Qatar have been a major component of the rally.But with stockpiles high and signs that some OPEC members are losing market share, along with few signs of demand returning, prices are likely to trade in a range."The likes of Russia and the likes of Iran ... are cutting deals left right and centre just to get cash flow," said Barratt."Given the absence of economic numbers supporting increases in demand we continue to go sideways," he said.Most analysts are predicting the end of the year-and-a-half long slump, but also betting that there is little upside in the near future.Barclays said net flows into commodities totalled more than $20 billion in January-February, the strongest start to a year since 2011, and prices could fall 20 to 25 percent if that were reversed."Were such a scenario to unfold, the price of oil could fall back to the low $30s," it said on Monday.
 Oil and Gas Regulatory Authority (OGRA) has moved a summary to the Ministry of Petroleum, proposing a hike in prices of the petroleum products with effect from April 1.</strongAccording to the summary, OGRA has proposed an increase in the price of petrol by Rs3.09 per liter.The summary further proposed that diesel priced by hiked by Rs1.40 a litre, light diesel by Rs4.91 and High Octane Blending Component (HOBC) by Rs4.67 a litre.
 The Asian Development Bank slashed its economic growth forecast for developing Asia this year, citing global headwinds and a weaker outlook for China.</strongDeveloping Asia will expand 5.7 percent this year and in 2017, the Manila-based lender said in its latest Asian Development Outlook released on Wednesday.In its December outlook report, the ADB had forecast 2016 growth for the region at 6.0 percent.The region, which groups 45 countries in the Asia Pacific, grew 5.9 percent last year."Risks are tilted to the downside as tightening US monetary policy may heighten financial volatility, further moderation in China could spill over into its neighbors, and producer price deflation may undermine growth in some economies," said ADB chief economist Shang-Jin Wei.The ADB forecast growth in China, the world's second-largest economy, would slow to 6.5 percent this year from 6.9 percent in 2015, its weakest expansion in a quarter of a century. Growth is projected to slow further to 6.3 percent in 2017, ADB said.The bank's 2016 forecast for China, down from a December estimate of 6.7 percent, is at the lower end of Beijing's own target of 6.5-7 percent as the government presses ahead with painful reforms, though Premier Li Keqiang has vowed that would not lead to a hard landing.Weak prices for oil and other commodities also cast a shadow over the prospects of Asia's commodity-dependent economies, the ADB said.In the United States, expanding private consumption and investment will be tempered by weak external demand, the ADB said. US Federal Reserve policymakers have cited continuing risks from a shaky global economy in halving the number of potential interest rate hikes this year to two.Growth in India will slip to 7.4 percent this year from 7.6 percent in 2015, but should recover to 7.8 percent in 2017, the ADB said.For all of South Asia, ADB forecast growth at 6.9 percent in 2016 and 7.3 percent in 2017, versus growth of 7.0 percent last year.Economies in Southeast Asia are projected to expand 4.5 percent this year, from 4.4 percent in 2015, and by 4.8 percent in 2017.For East Asia, ADB sees growth at 5.7 percent in 2016 and 5.6 percent in 2017. The region grew 6.0 percent last year.Central Asia is estimated to expand by 2.1 percent this year and 2.8 percent in 2017, following growth of 2.9 percent in 2015, the bank said.Annual inflation in developing Asia is expected to recover to 2.5 percent this year from 2.2 percent in 2015 as domestic demand strengthens, ADB said. A rebound in global commodity prices next year should lift inflation to 2.7 percent, it said.
 Government has ratcheted up prices of petrol and high speed diesel by Rs1.50 and Rs1.40 a litre respectively with effect from April 1.</strongSpeaking in Geo News programme �Capital Talk� hosted by senior anchor Hamid Mir, Finance Minister Ishaq Dar said although Oil and Gas Regulatory Authority (OGRA) had proposed a hike of Rs3.09 in petrol price, the government increased it by just Rs1.50 a litre.He said prices of only petrol and diesel are being raised and no change is being made in the rates of other petroleum products.After the raise of Rs1.50 a litre, the new price of petrol will be Rs64.47 while the price of diesel has been pushed up to Rs72.52 with a raise of Rs1.40 a litre.Dar said OGRA in its summary had asked for Rs5.64 raise in per litre rate of kerosene oil but it has been kept unchanged because it is used by people belonging to low-income group.The prices of High Octane Blending Component (HOBC), light diesel and kerosene oil will remain unchanged for the month of April at Rs72.68, 37.97 and 43.25 a litre.
strong>McDonald�s Corp said on Thursday it plans to add more than 1,500 restaurants in China, Hong Kong and South Korea over the next five years.</strongThe company also said it was looking for franchisee partners.McDonald�s already has more than 2,800 restaurants in those markets, the majority of which are company-owned.The company said it is seeking partners who would "enable localized decisions on growth initiatives."
 Asian shares edged up to a four-month high on Thursday, taking cues from Wall Street gains overnight, as receding worries of near-term US interest rate hikes continued to buoy risk sentiment.</strongThe dollar hovered near seven-week lows versus the euro, still gripped by cautious comments from Federal Reserve Chair Janet Yellen earlier in the week on monetary tightening.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, reaching its highest since early December. The index was poised to eke out a gain of 1.2 percent this quarter, which saw equities rocked earlier by global growth worries, but particularly for the Chinese economy.Australian stocks added 1.4 percent and Japan's Nikkei rose 0.2 percent, on track for an 11 percent loss on the quarter. Shanghai shares climbed 0.3 percent, en route to a quarterly drop of 15 percent.Taiwan stocks edged up 0.2 percent, led by gains in iPhone assembler Hon Hai Precision after the company approved a deal with Japan's Sharp Corp.Investor risk appetite has increased since Fed Chair Yellen said on Tuesday that the US central bank should proceed cautiously as it looks to hike rates, pushing back against some colleagues who have suggested another move may be just around the corner."Fed Chair Janet Yellen's speech earlier this week is still dragging the dollar down, sparking risk appetite globally," said Kim Moon-il, a foreign exchange analyst at Eugene Futures in Seoul.Yellen's views were echoed by Chicago Fed President Charles Evans, who said on Wednesday there was a high hurdle to raising rates in April, given low inflation.Following such cautious views from top Fed officials, the Dow climbed 0.5 percent and the S&amp;P 500 rose 0.4 percent overnight. The CBOE Market Volatility Index, Wall Street's "fear gauge", ended down 1.9 percent at its lowest level since August."Global markets are likely to be dominated by month- and quarter-end flows today as markets await tomorrow's US Institute of Supply Management data, non-farm payrolls and global purchasing managers' indexes, particularly that of China," wrote strategists at ANZ.In currencies, the euro fetched $1.1321 , not far from Wednesday's seven-week peak of $1.1365. The common currency was set for a 4 percent quarterly rise. The dollar dipped 0.1 percent to 112.37 yen , headed for 6.6 percent drop this quarter that saw the safe-haven Japanese currency benefit during bouts of global risk aversion.The greenback's recent weakness has been a boon to the Australian and New Zealand dollars, which both soared to nine-month highs.Crude oil prices dipped after U.S. government data showed crude inventories were again at all-time peaks despite strong refinery runs. U.S. crude was down 0.9 percent at $37.99 a barrel and Brent lost 0.5 percent to $39.05 a barrel.Oil prices, which fell to 12-year lows earlier this year, have risen about 50 percent since mid-February after major producers floated the idea of freezing production at January's highs. Some analysts say the rally has breached fundamentals and crude could trade lower.Copper slid as concerns over slowing Chinese demand mounted ahead of Friday's China official purchasing managers' index release. Three-month copper on the London Metal Exchange slid to as low as $4,829.50 per tonne, the lowest since March 3.
 Oil prices jumped more than 10 percent in March in the best quarter since mid-2015 although some analysts said the rally could fade soon as an output freeze plan by major crude exporters fails to alleviate worries of a glut.</strongA weak dollar and data showing a drawdown in crude stocks at the US futures delivery hub helped oil settle steady to firmer in Thursday's session.But traders remained worried that a tentative agreement among the world's largest producers to keep oil output at January's levels will barely make a dent on global supplies.Analysts said crude futures also appear to have overextended gains with a 50 percent rally since the deal was proposed mid-February, amid little improvement in fundamentals."Oversupply still persists due to resilient US production, even if declining moderately; high OPEC output, led by Saudi Arabia and Iraq; and the gradual return of Iran starting Q1 2016," said Mike Wittner, global head of oil research at Societe Generale.Brent crude for May delivery, which expired as the front-month contract, settled up 34 cents, or 0.8 percent, at $39.60 a barrel. June Brent closed 0.7 percent higher at $40.33.The benchmark's front-month soared 10 percent higher in March - its best month since April 2015 - and jumped 6 percent in the first quarter - its best quarter since the second quarter in 2015.U.S. crude futures settled at $38.34, up 2 cents on the day, rising 14 percent in March and 4 percent in the quarter - also its biggest quarterly gain since June 2015.In a Reuters poll, oil analysts raised their average price forecasts for 2016 for the first time in 10 months - Brent averaging $40.90 and U.S. crude $39.70 in 2016 - but cautioned the rally could fade near term.On Thursday, the dollar hit a mid-October low, making greenback-denominated oil more attractive to holders of the euro and other currencies.Data from market intelligence firm Genscape showed a 807,496-barrel drawdown in stocks at the Cushing, Oklahoma delivery hub for U.S. crude futures in the week to March 29, traders said.Inventories at Cushing have receded from record highs for two consecutive weeks, with U.S. government data on Wednesday showing a 272,000-barrel drawdown in the week ending March 25.Total U.S. crude stocks, however, rose 2.3 million barrels last week to 534.8 million barrels, a record high for a seventh straight week.OPEC crude output rose in March to 32.47 million barrels per day from 32.37 million bpd in February, a Reuters survey said.Analysts also expect an April 17 meeting of major oil producers in Doha to discuss the output freeze to fall short of expectations."There is a clear risk of disappointment and for a temporary setback in prices ahead or immediately after the Doha meeting," Carsten Fritsch, commodities analyst at Commerzbank, told the Reuters Global Oil Forum.
 Finance Minister Senator Ishaq Dar on Saturday called for formulation and implementation of a Charter of Economy to develop y Pakistan at all levels.</strongTalking to media men at MoU signing ceremony between Sheikh Zayed Hospital Complex and University of Health Science (UHS), he also underscored the need to separate politics from economic affairs and said every one in his domain must focus and contribute towards economic well being of the country.Ishaq Dar said �Voluntary Tax Compliance Scheme (VTCS commonly known as tax amnesty scheme) was not aimed to allow people to whiten their black money, wealth, assets or jewellery but to facilitate the non filers.He said so far only 10,000 new filers had used this facility and called for more efforts to remove fears and apprehensions of the new filers.One month extension in the deadline of the VTCS would prove very beneficial for non filers, business businessmen and tax revenue generation, he said.The Federal Minister said that National Price Monitoring Committee was entrusted to assess the impact on prices of overall commodities in the wake of fluctuation in the prices of POL (petroleum oil and lubricants).The committee he added monitored the implementation of prices in the country while the government had also set up model special and Sunday bazaars in KPK Punjab and Sindh which ensured a great relief to the common man in terms of reduced prices of commodities.�Replying �a query, Ishaq Dar said that government had succeeded to convince the opposition parties and remove their reservations over the issue of PIA, �asserting that PIA amendment bill would be passed in joint session of the Senate and National Assembly to be held on April 11th.�None of the PIA s hotels or assets was being sold out but the government wanted to correct the core business of the PIA to turn it into a profitable entity�, he said.The Federal Minister said that Pakistan had made the LNG (Liquefied Natural Gas) import deal with Qatar at a very low price and it would be contributing to the country s energy needs.About the appointment of OGRA Chairman, Ishaq Dar, said that an 11 member committee headed by him had been constituted and it also included Federal Petroleum Minister and the Cabinet Secretary.
India�s top cigarette maker ITC Ltd, part-owned by British American Tobacco , said it was not ready to print bigger health warnings on its packs as mandated by the government and will keep its factories shut until clarity emerges on the new rules.</strong/>ITC�s comments highlight the latest tussle between India's $10 billion cigarette industry and the government after new rules kicked in on Friday mandating health warnings should cover 85 percent of a pack�s surface, up from 20 percent now.A parliamentary panel last year forced the government to delay the new rules, saying it was assessing how the industry would be impacted. But the health ministry later said the warnings must be adopted on April 1.The panel of lawmakers last month called for reducing the size of warnings to 50 percent to protect the interests of the industry and tobacco farmers.ITC said the health ministry�s push to go ahead with its rule was "contrary to its earlier decision to await the (parliamentary) committee�s findings". "The industry was led to believe that the government would renotify new health warnings after considering the committee�s recommendations," ITC said in its statement.Health ministry officials could not be reached for a comment on Saturday. A senior official had told Reuters on Friday the government was committed to implementing new rules.A leading industry body had said on Friday that cigarette makers, including ITC and its rival Godfrey Phillips India Ltd , which is a partner of U.S. -based Philip Morris<br/> International, suspended production as the new policy created confusion.Smoking kills about 1 million people in India each year, BMJ Global Health estimates. The World Health Organization has called the debate on reducing the warnings size in India "worrisome".
 �The Australian Tax Office (ATO) said on Monday it is investigating more than 800 wealthy clients of a Panama law firm for possible tax evasion.</strongThe probe follows the reported leak of more than 11.5 million documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama, revealing details of hundreds of thousands of clients.The documents are at the center of an investigation published on Sunday by the International Consortium of Investigative Journalists, the German newspaper S�ddeutsche Zeitung and more than 100 other news organizations around the globe.ICIJ is the international arm of the Center for Public Integrity. The leaked "Panama Papers" cover a period over almost 40 years, from 1977 until as recently as last December, and allegedly show that some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax avoidance."Currently we have identified over 800 individual taxpayers and we have now linked over 120 of them to an associate offshore service provider located in Hong Kong," the Australian tax office said in a statement emailed to Reuters.It did not name the Hong Kong company. ATO Deputy Commissioner Michael Cranston said his office was working with the Australian Federal Police, the Australian Crime Commission and anti-money laundering regulator AUSTRAC to further cross-check the data from the documents."Some cases may be referred to the Serious Financial Crime Taskforce," Cranston said in the statement."The message is clear - taxpayers can�t rely on these secret arrangements being kept secret and we will act on any information that is provided to us."Treasurer Scott Morrison told ABC Radio Monday that "our record when it comes to tax avoidance and particularly multinational tax avoidance is one of legislation and action."The 800 individuals under investigation include some taxpayers who had previously been investigated and others who had reported themselves to the tax office under its so-called Project DO IT - Disclose Offshore Income Today.The voluntary disclosure initiative, which closed at the end of 2014, allowed people to come forward and avoid steep penalties and criminal charges.However, the tax office said the individuals under investigation also include "a large number of taxpayers who haven�t previously come forward."In New Zealand, the tax agency is "working closely" with its tax treaty partners to obtain full details of any New Zealand tax residents who may have been involved in arrangements facilitated by Mossack Fonseca, said John Nash, Inland Revenue�s international revenue strategy manager, in comments emailed to Reuters.Nash said there is an "active compliance programme focused on those who engage in abusive offshore arrangements and don�t meet their tax obligations."He urged any New Zealand tax residents who may have been involved in offshore arrangements that do not comply with tax laws to come forward voluntarily "rather than face more severe action later should we identify participation in tax evasion or� avoidance.
 Pakistan Customs is all set to revise up the import trade prices of tyres and tubes in a bid to curb under-invoicing in the monthly $20 million market. �</strongThe Directorate of Post Clearance Audit-Customs forwarded a reference to the Directorate General of Customs Valuation for re-fixation of customs values or import trade price of tyres and tubes.�Preliminary audit findings show that tyres and tubes are being under-invoiced by approximately 52 percent, resulting in a significant revenue loss,� said Gul Rehman, Director Post Clearance Audit.Customs value is the transaction value on which the assessment of duty and taxes is carried on.According to the details, the customs department conducted a desk audit of the import of these goods for the period between January 2013 and December 2015, and it was found that the assessment of these goods was made as per the valuation ruling (i.e. customs value applicable at the time of import).However, the values declared by the importers were cross-checked by the transaction value in the exporting country. And, this exercise revealed that value of goods declared to the customs of shipping country at the time of export of these goods is much higher than the invoice value declared before the customs.�Directorate General of Customs Valuation is requested to examine the issue carefully to re-fix the import trade price of the subject goods,� Rehman said.Under-invoicing is a major source of revenue leakage at import stage. The Pakistan Business Council, in a report, said the country loses around Rs150 billion every year to under-invoicing.�� Moreover, import of goods at under-invoiced values adversely impacts the local industry. Tyre manufacturers have time and again raised voice against smuggling and under-invoiced imports of tyres and tubes.� Pakistan imports an average $20 million of rubber tyres and tubes every month.
strong>The owner of three US Volkswagen dealerships filed a lawsuit against the German automaker on Wednesday over its massive diesel emissions scandal, along with pricing and distribution practices.</strongThe suit filed in federal court in Illinois is the first brought by a VW franchise dealer over the automaker�s admitted use of software that allowed nearly 600,000 vehicles to emit up to 40 times legally allowable pollution, a lawyer for owner of the dealerships said.A Volkswagen spokeswoman did not immediately comment on the suit filed by the owner of dealerships in Illinois and Florida.VW also faces lawsuits from the Justice Department, some US states and complaints filed on behalf of hundreds of owners.
 Asian stocks held near three-week lows on Wednesday as concerns about the underlying strength of the Chinese economy dogged investors while oil prices jumped by nearly two percent on growing hopes a global output freeze may materalize soon.</strongMSCI's broadest index of Asia-Pacific shares outside Japan was barely in positive territory after falling to its lowest level since March. 16. Overnight, it dropped 1.6 percent, its biggest fall in almost two months.While global risky assets has staged a smart recovery since February's lows, led by Chinese stock markets on hopes that Beijing can successfully avert a sharp slowdown, policymakers and investors are worried the recovery may be at best, bumpy, or at worst, short-lived.Alex Wolf, emerging markets economist at Standard Life Investments said it is still too early to call an economic stabilization in China because property inventories are still very high and much of the recent economic activity was driven by quasi-fiscal spending."A rebound based on property exuberance and quasi-fiscal stimulus means it might be more transient than the market wants to believe," he said in a note.Data last week showed foreigners are estimated to have pumped $36.8 billion into emerging market stocks and bonds in March, the highest monthly inflow in nearly two years, the Institute of International Finance said.On Wall Street, the S&amp;P 500 lost 1.01 percent on Tuesday as investors took profits on recent gains ahead of a quarterly reporting season that is expected to reveal sharply lower earnings.In addition, the US trade deficit widened more than expected in February in the latest indication that economic growth in the world's largest economy weakened further in the first quarter.The data prompted economists to cut their first-quarter gross domestic product growth estimates by as much as half a percentage point to as low as a 0.4 percent annualized rate, which would be its slowest growth in two years.Risk aversion was evident in currency and fixed income markets as well.Investors also bought back the yen, a low-yield currency that investors often sell to seek higher yields elsewhere when risk appetite is strong.The yen hit a 17-month high of 109.92 to the dollar on Tuesday after Japanese Prime Minister Shinzo Abe said countries should avoid seeking to weaken their currencies with "arbitrary intervention." It last traded at 110.48.His comments dimmed any prospects of currency intervention by the Japanese authorities to stem the yen's rise in the near future, analysts said.The euro was little changed at $1.1376, hovering not far from its 5 1/2-month high of $1.1438.German 10-year yield fell below 0.10 percent for the first time since April last year, edging near its record low of around 0.05 percent touched almost a year ago.The 10-year U.S. Treasuries yield dropped to a five-week low of 1.715 percent, having fallen almost 0.3 percentage point from its March 16 peak of 2.002 percent.The two-year yield fell to a near six-week low of 0.716 percent while traders reduced bets on a Fed rate hike in June further.Oil offered the sole bright spot in financial markets with prices extending their rebound after Kuwait insisted major producers will agree to freeze output later this month even as key player Iran continued to balk at the plan.The market was also helped by data on US crude supply-demand for last week from industry group American Petroleum Institute (API) showing a surprise fall of 4.3 million barrels in inventories in the week to April 1, versus an expected weekly increase of 3.2 million barrels.Brent crude futures LCOc1 rose 1.6 percent to $38.48 per barrel, off one-month low of $37.27 hit on Tuesday. U.S. crude futures jumped 2.5 percent to $36.75 a barrel.
 Crude futures were lifted by a raft of supportive indicators in early trading on Thursday, although some traders warned that physical supply and demand fundamentals did not warrant a strong price recovery at this stage.</strongInternational Brent futures LCOc1 traded above $40 per barrel in early trading and stood at $40.07 at 0038 GMT, up 23 cents from the last close and almost 8 percent above lows reached earlier this week.Front month US West Texas Intermediate (WTI) crude futures CLc1 were trading at $38.09 per barrel, up 34 cents from their last close and 8 percent above their April lows.US crude prices were supported by an unexpected fall in crude inventories, albeit from all-time record highs, last week as refineries continued to hike output and imports fell."Oil prices spiked after the EIA data release," ANZ bank said in a morning note on Thursday.US crude inventories fell 4.9 million barrels in the week to April 1, compared with analysts' expectations for an increase of 3.2 million barrels, according to data from the Energy Information Administration on Wednesday.In Europe, North Sea oil field maintenance expected next month lent support to Brent futures, which are priced off North Sea supplies.And on the demand side, manufacturing seems to be recovering from recent weakness, analysts said."Global manufacturing PMIs (Purchasing Managers' Index) saw their strongest MoM (month-on-month) recovery in two and half years in March, according to our calculations," Macquarie bank said.Yet some traders warned that the rise in futures prices might be premature and not supported by physical market fundamentals.A planned meeting of major oil producers on April 17 to freeze output around current levels, which in most cases remains at or near record highs, would do little to reduce an overhang in production with at least a million barrels of crude pumped every day in excess of demand."Absent a tightening in global oil fundamentals we reiterate our recommendation to go long put spread," BNP Paribas said.A put is a financial instrument that gives a trader the option right to sell an asset like crude futures.
 Asian shares extended losses to three-week lows on Friday, while the yen soared to a 17-month high against the dollar as investors bet Japan would be hard pressed to drive down its currency in the face of widespread foreign opposition.</strongMSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, heading for a weekly drop of 1.8 percent.Japan's Nikkei pared earlier losses to near-two-month lows to trade 0.6 percent lower, with financials under pressure. It's on track for a decline of 3.1 percent for the week.China's Shanghai Composite index slid 0.9 percent, poised for a similar drop for the week. The CSI 300 was down 0.8 percent, set for a 1.2 percent weekly decline. Hong Kong's Hang Seng slipped 0.7 percent, headed for 1.9 percent loss for the week.Bank shares led losses in Europe and the US markets on Thursday, amid talk of more layoffs and cutbacks planned by Europe's major lenders as they struggle with zero rates.The US S&amp;P 500 Index lost 1.2 percent, with financial shares falling 1.9 percent. In Europe, the FTSEurofirst 300 closed down 0.8 percent, hurt by a drop of more than 2 percent in financials."When bank shares are making big falls and their CDS spreads are rising like this, obviously you would think something is afoot. If they keep falling in today's session, that is going to be really worrying," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.US stock futures slipped about 0.1 percent further in Asian trade after Federal Reserve Chair Janet Yellen, in a conversation with former Fed chairmen, said the US economy is on a solid course and still on track to warrant further interest rate hikes.Despite a chorus of comments from Fed policymakers about more rate hikes, many investors think the global economy is too weak to allow the Fed to raise rates all that fast.The 10-year US Treasuries yield fell to six-week low of 1.685 percent on Thursday, and was last trading at 1.7097. US interest rate futures maintained their firmness, pricing in a less than 20 percent chance of a rate hike in June.Lower yields undermined the dollar, given that prospects of higher US yields were the main attraction behind the currency's firmness.Investors instead bought back the yen which had been long under pressure due to the Bank of Japan's massive monetary easing."Japan's move towards negative rates, amid a general inability to create substantial nominal GDP and therefore inflation, is now resulting in a wave of JPY buying," Chris Weston, chief market strategist at IG in Melbourne, wrote in a note.Traders believe it would be hard for Japanese authorities to intervene to stem the yen's rise after the Group of 20 agreement in February warned countries to refrain from competitive devaluation.Finance Minister Taro Aso said on Friday Japan will take necessary steps on currencies, but declined to comment on the issue of intervention.The yen strengthened to 107.67 to the dollar on Thursday, its highest since October 2014, and last stood at 108.64, heading for a weekly gain of 2.6 percent.The dollar index, which tracks the greenback against a basket of six rival currencies, was up about 0.1 percent at 94.583, poised for a flat weekly performance.The euro also hit a six-month high of $1.1454 the previous day and last fetched $1.1361, set to end the week up 0.2 percent.On the other hand, commodity-linked currencies and many emerging economy currencies stepped back from recent multi-month highs as risk-averse mood took hold on investors.The Australian dollar traded at $0.7533, having fallen 1.3 percent on Thursday.In the commodities market, copper suffered its biggest fall in more than six months on Thursday, slumping 2.8 percent on the day and hitting a six-week low of $4,631 a tonne.China may be about to shock the global copper market by unleashing some of its stockpiles of the metal, which are near record highs, on to the global market.The metal was last trading at $4,660 a tonne.Oil prices rose on Friday after firm economic indicators from the US and Germany implied support for fuel demand, but analysts warned another downturn could be on the way due to ongoing oversupply.Global benchmark Brent crude futures climbed 1.3 percent to $39.96 per barrel, set for an increase of 3.4 percent on the week. U.S. crude advanced 1.8 percent to $37.92, on track for a 3.1 percent weekly gain.
 The Monetary Policy Committee of the State Bank of Pakistan has decided to maintain the policy rate at six percent.</strongThis was announced in the monetary policy statement issued by the SPB here on Saturday.It said that after bottoming out in September 2015 both the Year on Year (YoY) headline CPI and period average inflation are on a rising trend.The monetary policy statement issued by the SBP further stated that while the YoY inflation rose from 1.3 percent in September 2015 to 3.9 percent in March 2016, the period average inflation increased from 1.7 percent to 2.6 percent during this period.Similarly, the YoY core inflation measures kept their increasing trends Non-Food-Non Energy increased for the fifth consecutive month and the Trimmed Mean for the third month.Nevertheless this rise in inflation was anticipated and the benign inflation outlook for the remaining months of FY16 remains largely unchanged.However, these trends in inflation indicate pickup in aggregate demand amid both improved security situation and real incomes.This is reflected in rising demand for consumer durables acceleration in construction activities and expansion in services sector.Continuing increase in fixed investments for the fifth quarter remains noteworthy.<br/>With positive consumer sentiments and incremental lending rates at considerably lower levels the uptake in credit to private sector is expected to end FY16 on a higher level than that of FY15 the SBP, statement added.At the same time with improved business sentiments lower input prices and better energy availability supply conditions have improved as well.Largely contributed by automobile cement and fertilizer sectors large scale anufacturing grew by 4.1 percent in Jul Jan FY16 compared to 2.5 percent growth in Jul Jan FY15.The improving large scale manufacturing and industrial growth trends are expected to continue despite sector specific issues in steel paper and board and sluggish textile sector.Furthermore excess stock of major food items and the February 2016 pass on of lower oil prices to domestic consumers are expected to keep downward pressure on inflation.<br/>This is also corroborated by a decline in inflation expectations in the latest wave of IBA-SBP consumer confidence survey.The SBP statement further pointed out that in line with these developments both money and foreign exchange markets exhibited relative tranquility in recent months.The cushion provided by decline in oil prices, inflow of remittances and calmer international capital markets improved sentiments in the foreign exchange market.As a result in post January 2016 monetary policy period PKR has remained stable in the interbank market.
 Global equity markets advanced on Friday, buoyed by a jump in oil prices, but were lower for the week as the dollar gave up early gains against the yen.</strongStocks on Wall Street and in Europe were lifted by energy names, with Brent and US crude oil jumping more than 6 percent as drawdowns in US crude stocks fed hopes a punishing global glut that has persisted for nearly two years may be nearing a tipping point.Global benchmark Brent crude futures LCOc1 jumped 6.4 percent to settle at $41.94 per barrel, scoring their biggest weekly gain in five. U.S. crude futures CLc1 closed up $2.46, or 6.6 percent, to $39.72, up nearly 8 percent for the week.The Europe Oil and Gas index was up more than 3 percent while the S&amp;P energy index climbed 2 percent as the top-performing sectors in each region, tracking the rise in crude prices."Clearly if you are looking at it from an index perspective, the stronger commodities are having a bit of a positive effect," said Nick Kalivas, senior equity strategist at Invesco PowerShares in Chicago."The market still remains very focussed on energy as kind of an indicator of economic health and credit risk that I don�t think has faded yet."The Dow Jones industrial average rose 35 points, or 0.2 percent, to 17,576.96, the S&amp;P 500 gained 5.68 points, or 0.28 percent, to 2,047.59 and the Nasdaq Composite added 2.32 points, or 0.05 percent, to 4,850.69.Even with Friday's modest gains, the S&amp;P 500 suffered its biggest weekly decline in two months.MSCI's index of world shares rose 0.68 percent but was down 0.55 percent for the week. The FTSEurofirst 300 closed up 1.2 percent, but still notched a fourth straight weekly decline, its longest losing streak since October 2014.Much of the volatility this week has been fuelled by the yen's surge against the dollar, which caught many market participants off-guard and increased speculation Tokyo could intervene in the currency market to halt the rally.The dollar briefly traded above 109.00 yen, recovering from its first break below 108.00 since October 2014 on Thursday. Japanese Finance Minister Taro Aso said the government would take steps to counter "one-sided" moves in the yen in either direction.However, those gains faded late in the session and the dollar was last off 0.04 percent at 108.16 yen, for a weekly fall of 3.1 percent.Sharp appreciation of the safe-haven yen against the dollar is often a warning sign of broader financial market stress and investor risk aversion, which has been exacerbated this week by growing uncertainty surrounding the U.S. economic and policy outlook.Federal Reserve Chair Janet Yellen, in a conversation with former Fed chairmen on Thursday, said the U.S. economy is on a solid course and still on track to warrant further interest rate hikes.New York Fed President William Dudley on Friday said the central bank must approach further rate hikes cautiously and gradually because of lingering external risks to the U.S. economy, despite some strength at home and welcome hints of inflation.The comments helped push benchmark 10-year Treasuries down 9/32 in price to yield 1.784 percent after they hit a low six-week of 1.685 percent on Thursday.
 Gold jumped to its highest in nearly three weeks on Monday as Asian equities slid and the dollar held close to six-month lows, burnishing demand for the safe-haven metal.</strongWeak economic data and uncertainty over U.S. monetary policy have sparked risk-averse sentiment in the market, underpinning demand for safety assets such as gold and the Japanese yen, which is trading near levels not seen since 2014.Spot gold rose to $1,250.46 an ounce early on Monday, its highest since March 22. It later pared some gains to trade up 0.8 percent at $1,249.70 an ounce by 0202 GMT, following its best weekly gain in five weeks last week."Markets are still jittery about what's going on in the global economy... and gold is the preferred safe-haven," said OCBC Bank analyst Barnabas Gan.Gold will remain elevated in the short term, Gan said, but he expected the metal to give back some of its gains later in the year as the Federal Reserve carried out two rate hikes.Higher rates would weigh on gold by lifting the opportunity cost of holding non-yielding bullion.Waning expectations for further rate increases this year helped gold to its best quarter in nearly 30 years in the three months to March.Fed Chair Janet Yellen on Thursday said the U.S. economy is on a solid course and still on track to warrant further interest rate hikes. The U.S. central bank raised rates in December for the first time in nearly a decade.New York Fed President William Dudley on Friday said the central bank must approach further rate hikes cautiously and gradually because of lingering external risks to the U.S. economy, despite some strength at home and welcome hints of inflation.The dollar slid 0.15 percent against a basket of major currencies, falling close to last week's low of 94.015, also the lowest since mid-October.MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4 percent, while Japan's Nikkei stock index fell nearly 2 percent.Data on Friday showed hedge funds and money managers cut their net long positions in gold futures and options in the week to April 5, but still not far from a two-month high.Assets in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.22 percent to 817.81 tonnes on Friday.
 The US government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday.</strongThe government had a deficit of $53 billion in March of 2015, according to the Treasury�s monthly budget statement.Analysts polled by Reuters had expected a $104 billion deficit for last month.Accounting for calendar adjustments, March would have shown a $102 billion deficit compared with an adjusted $89 billion deficit in March 2015.The current fiscal year-to-date deficit was $461 billion, up 5 percent from a $439 billion deficit this time last year.Receipts last month totaled $228 billion, while outlays stood at $336 billion.
 Finance Minister, Senator Mohammad Ishaq Dar held a meeting with senior officials of the Finance and Economic Affairs Divisions here Tuesday, said a statement.</strongAccording to the statement, preparations for the upcoming World Bank/IMF Spring meetings scheduled to be held at Washington from 14-17 April 2016 were reviewed on the occasion.It said the finance minister expressed satisfaction on the preparation for effective participation of Pakistan delegation in the meetings.The Finance minister stated that in view of Prime Minister�s program to proceed to United Kingdom for medical check up, he has decided not to proceed to Washington to attend the Spring meetings and the delegation comprising Governor State Bank of Pakistan, Secretary Finance and Secretary Economic Affairs Division would� represent the country in these meetings.�
 The newly expanded Gwadar deep-water port in Pakistan that is key to a planned $46 billion Chinese economic corridor is nearly complete and expects</strong><br/><strong>to process about a million tons of cargo next year, the operator said on Tuesday.</strongMost of the cargo will be incoming construction materials to be used in projects related to the China Pakistan Economic Corridor (CPEC), which envisions linking far-western Chinese production regions by road through Pakistan for shipment through Gwadar port to overseas markets.Pakistani security forces have promised to protect the corridor project. "The port cranes are almost ready, and we are thinking that the port will be (at) full operation by the end of this year," said Zhang Baozhong, chairman and CEO of China Overseas Ports Holding Company Ltd.The Chinese company took over Gwadar�s operations in 2013. The revamped port has three multipurpose berths and its inner is dredged to 11.5 metres. "We�re expecting at least one million tons of material will go in and out" next year, Zhang said, speaking at a day-long conference in Gwadar city.The projected traffic represents a 100 percent increase over this year�s throughput, but is a far cry from the 300-400 million tons per year that the Gwadar Port Authority envisions for the facility, which has ambitions of becoming a regional hub.Zhang acknowledged that Gwadar now had minuscule traffic - mostly Pakistani government-subsidised fertilizer imports - but he predicted a swift transformation in coming years.Part of the problem is that the new roads that CPEC is expected to build, linking the port to China�s industrial zones, have not yet come online and the Pakistani province of Baluchistan does not have enough export-ready products."Even if you have a very good port, (if) you don�t have an inland transporting system and the economy in the near area is not very positive, the port will not be fully utilised," he said.He added that his company planned to develop seafood processing plants and other facilities in a 923 hectare free zone outside the port. One of Gwadar�s main industries is fishing but it is not done on a scale that is suitable for export.�
 Oil prices dipped in early Asian trade on Tuesday, but both US and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply.</strongUS West Texas Intermediate (WTI) crude futures CLc1 were trading at $40.27 per barrel at 0059 GMT, down 9 cents from their last settlement.International Brent crude futures LCOc1 were at $42.70 a barrel, 13 cents below their last close but only 36 cents off their 2016-high reached the previous day.Major oil producers from the Middle East and Russia, but excluding the United States, plan to meet in Qatar's capital Doha next Sunday. They will discuss measures to rein in ballooning oversupply which sees as many as 2 million barrels of crude produced every day in excess of demand, leaving storage tanks around the world filled to the rims with unsold and unwanted fuel.Most analysts expect producers to freeze output around current output levels, which being beyond consumption and close to record levels would do little to address the glut."The potential risk for prices is for the downside as freezing output at current levels would be more of a symbolic act rather than a real market intervention. But you need to be open to surprises in this market," said Ric Spooner, chief market analyst at CMC Markets in Sydney.While Spooner said that a production freeze would do little to address the immediate glut, he added that keeping key Middle East and Russian output around current levels might in the longer term lead to a more balanced market."There is demand growth, and production in the U.S. is falling, so if against that background there was a freeze, markets could get tighter at some stage," he said.Analysts at Bernstein said that they expected global oil demand to grow at a mean annual rate of 1.4 percent between 2016 and 2020, versus annual growth of 1.1 percent over the past decade, adding that global demand would reach 101.1 million barrels per day (bpd) by 2020 from 94.6 million bpd now.Looking further into the future, Bernstein said that world oil demand would likely peak in the 2030s."The world will reach 'peak demand' before 'peak supply'. Global oil demand is likely to peak around 2030-35 at 108 million bpd."
 The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and the risk of growing economic inequality as it cut its global economic growth forecast for the fourth time in a year.</strongIn the run-up to the annual spring meetings of the IMF and the World Bank in Washington, D.C. this week, the IMF said the global economy was vulnerable to shocks such as sharp currency devaluations and worsening geopolitical conflicts.In its latest World Economic Outlook, the IMF forecast global economic growth of 3.2 percent this year, compared to a forecast of 3.4 percent in January. The growth estimate also was lowered in July and October of last year.For 2017, the IMF said the global economy would grow 3.5 percent, down 0.1 percentage point from its January estimate.Its latest report cited a worsening spillover from China's economic slowdown as well as the impact of low oil prices on emerging markets such as Brazil. It also highlighted persistent economic weakness in Japan, Europe and the United States.The gloomier picture sets the stage for the IMF and the World Bank to call this week for more coordinated global action to support growth."In brief, lower growth means less room for error," IMF's chief economist, Maurice Obstfeld, told a news conference, adding that "scarring effects" from years of tepid growth could in turn weaken demand, thin the workforce, and reduce potential output further, creating a scenario of "secular stagnation."strong>ISOLATIONISM GROWS</strongIn its report, the IMF warned that the rise of nationalist parties in Europe, the June 23 "Brexit" referendum, and anti-trade rhetoric in the U.S. presidential campaign posed threats to the global economic outlook.A British exit from the EU could do "severe regional and global damage by disrupting established trading relationships," it said."We're definitely facing the risk of going into doldrums that could be politically perilous," said Obstfeld, who pointed to stagnant wage growth as fueling a growing sense of economic inequality that is spilling into the voting booth in many countries.The IMF urged policymakers to boost growth with actions such as deregulating certain industries and raising labor market participation. It recommended nations with fiscal breathing room boost investments in infrastructure and cut labor taxes, and it encouraged central banks to keep monetary policy accommodative.The IMF's report and the gathering of officials and central bankers in Washington this week comes against the backdrop of widening rows in Europe over negative interest rates, a refugee crisis, and how to shore up Greece's financial bailout program.German Finance Minister Wolfgang Schaeuble told Reuters in an interview on Tuesday that the European Central Bank's record low interest rates were causing "extraordinary problems" for German banks and pensioners, and risked undermining voters' support for European integration.Official negotiations over Greece's bailout review have been idled during the IMF and World Bank meetings, but the debate over whether to provide more debt relief to Athens in exchange for further budget cuts is expected to continue on the sidelines.Obstfeld repeated the IMF's demand for a bailout program that would put Greece on a path to sustain its debt and begin growing again, adding that there should be some flexibility to help its government deal with the massive numbers of refugees who have fled to Greece from war-torn countries.strong>FORECASTS FOR JAPAN, U.S. ALSO CUT</strongThe IMF on Tuesday cut Japan's growth forecast for 2016 in half to 0.5 percent. It said Brazil's economy would now shrink by 3.8 percent this year versus the previous forecast of a 3.5 percent contraction, as Latin America's largest economy struggles through its deepest recession in decades.Meanwhile, the United States, one of the relative bright spots in the global economy, also saw its 2016 growth forecast cut to 2.4 percent from 2.6 percent. The IMF said it anticipated an increased drag on U.S. exports from a stronger U.S. dollar, while low oil prices would keep energy investment weak.U.S. Treasury Secretary Jack Lew will urge G20 and IMF members to take steps to bolster demand, but also to "avoid persistent exchange rate misalignments and refrain from targeting exchange rates for competitive purposes," a senior Treasury official told reporters.The IMF nudged China's growth forecast slightly higher to 6.5 percent this year, and 6.2 percent in 2017, partly due to previously announced policy stimulus moves. However, the Fund added that it was reducing its longer-term growth forecasts for China and said the Asian nation's "momentous" shift away from investment-led growth was continuing to chill global trade.
 US federal, state and local government agencies rank in last place in cyber security when compared against 17 major private industries, including transportation, retail and healthcare, according to a new report released Thursday.</strongThe analysis, from venture-backed security risk benchmarking startup SecurityScorecard, measured the relative security health of government and industries across 10 categories, including vulnerability to malware infections, exposure rates of passwords and susceptibility to social engineering, such as an employee using corporate account information on a public social network.Educations, telecommunications and pharmaceutical industries also ranked low, the report found.Information services, construction, food and technology were among the top performers.Government agencies have struggled for years to keep pace with malicious hackers and insider threats, a challenge that came into focus after it was disclosed last year that more than 21 million individuals had their sensitive data pilfered during a breach at the Office of Personnel Management.SecurityScorecard said it tracked 35 major data breaches across government from April 2015 to April 2016.President Barack Obama has made improving cyber defenses a top priority of his remaining year in office.His administration asked Congress to dedicate $19 billion to cyber security in its fiscal 2017 budget proposal, which would include $3.1 billion for technology modernization at various federal agencies.Federal agencies scored most poorly on network security, software patching flaws and malware, according to SecurityScorecard, which said they may be more vulnerable to risk due to their large size.Of the 600 government entities tracked, NASA performed the worst, the report found.The space exploration agency was vulnerable to email spoofing and malware intrusions, among other weaknesses, according to SecurityScorecard�s analysis.Other low-performing government organizations included the US Department of State and the information technology systems used by Connecticut, Pennsylvania, Washington and Maricopa County, Arizona.Government organizations with the strongest security postures included Clark County, Nevada, the US Bureau of Reclamation, and the Hennepin County Library in Minnesota.
strong>European demand for diesel is expected to have fallen in the first three months of 2016 for the first quarterly decline in nearly two years, the International Energy Agency reported on Thursday, the latest sign of distress in the fuel market.</strongEurope, where roughly half of cars are fuelled by diesel, joins the United States, China and Japan which saw demand contract for a second consecutive quarter in January-March, according to the IEA."Global gasoil demand crumbles," the Western energy watchdog said in its benchmark monthly report. Gasoil includes several different grades of fuel but diesel is the most important."The end of gasoil demand growth is not yet upon us, as modest gains are forecast towards the end of the year as the underlying industrial situation improves worldwide," particularly in the United States and India, it said.Chinese demand for diesel slowed in recent years as the world's second-biggest economy shifted away from heavy manufacturing to be more consumer-focused. In the United States and Japan the weakening demand was linked to slower manufacturing and industrial activity and a mild winter in North America.Prior to 2016, "the European gasoil consumer demonstrated stolid resistance, a resolve that cracked in Q1 2016," when demand declined by 75,000 barrels per day compared to a year earlier, it said.The declines were led by France and Germany, which saw diesel consumption drop by 50,000 and 20,000 bpd respectively from a year earlier.The IEA trimmed slightly its forecast for growth in global oil demand this year to 1.2 million bpd, for total annual demand of 95.9 million bpd.
 China and Hong Kong stocks remained firm on Thursday morning, with investors pricing in some upside surprise in China�s first-quarter GDP figures to be </strong><strong>released on Friday, traders said.</strongData released on Wednesday�s showed China�s exports in March returned to growth for the first time in nine months, providing an encouraging sign ahead of the GDP release.By the lunch break, both the CSI300 index and the Shanghai Composite Index had risen 0.1 percent. Hong Kong shares rose to three-month highs, with the Hang<br/> Seng index adding 0.9 percent while the Hong Kong China Enterprises Index gained 1.1 percent.In a sign of rapidly shrinking price differences between the two markets, an index tracking premiums of China-listed firms to their Hong Kong-traded counterparts is on track to fall for seven sessions in a row to a five-month low."We believe the recent trade, car sales and electricity consumption data point to a potential upside surprise to March data," Morgan Stanley wrote. "In the near term, we continue to expect a cyclical improvement as past stimulus measures are still filtering through to the economy."The improving outlook for China�s economy has increased investor appetite for risky assets. An index tracking mainland investors� confidence in the<br/> stock market rose to 54.7 in March, up 12.1 percent from a month earlier, and exceeding 50 for the first time since December.A reading above 50 indicates optimism, while figures below 50 signals pessimism. The China market, which is under increasing pressure from profit-takers following a month-long rebound, also got some support from news that China�s central bank will inject 40 billion yuan ($6.18 billion) into the money markets on Thursday.Most sectors, including IT and consumer rose in both China and Hong Kong markets, but energy and resources shares dropped as investors took profit after<br/> Wednesday�s surge.
 Pakistan Customs proposed the Federal Board of Revenue (FBR) to impose five to 20 percent regulatory duties on a number of importable goods to avert the incidences of mis-declaration, which cause revenue losses to national exchequer.</strong�Various statutory rates of import duty, under the FTA (free trade agreement) regime provide opportunity to the importers to get items cleared under the minimum duty slab,� said the Customs Appraisement South, in its budget proposals for 2016/17. �It is, therefore, proposed that regulatory duty be enhanced to 15 percent from existing 10 percent on import of woven cotton fabric.��There are various rates of import duty on similar goods with only structural formation difference. Generally, the importers declare goods with vague and fake descriptions to claim the minimum duty slab.�It is proposed that regulatory duty be imposed on goods importable under lower duty slabs to rationalise the duty structure,� said the Customs Appraisement South.The department advised the FBR to specify same concessionary rate of sales tax on raw materials and goods imported by manufacturers/industrial consumers as well as commercial importers.���Commercial importers as well as industrial consumers should be given same rates of sales tax as it is difficult to check genuine manufacturers at import stage,� it said.According to a statutory regulatory order (1125(I)/2011), sales tax is charged at three percent on industrial inputs imported by manufacturers of the five export-oriented sectors. In case of commercial importers, value addition tax of three percent is also charged in addition to one percent sales tax at the import stage.�A majority of the commercial importers have managed to got themselves registered as �manufacturer� with a view to misuse the SRO, resulting in revenue loss,� the budget proposals document said.For example, it added that the balance of imports of textile yarn has abnormally shifted in favour of manufacturers from commercial importers.The Customs Appraisement South also proposed the FBR to withdraw duty and tax concessions available to the aviation industry.Presently, duty concessions are available on import of ground handling equipment, service and operation vehicles, catering equipment and fuel trucks, not manufactured locally and imported by domestic airlines or by any other service company to which a licence has been issued by the Civil Aviation Authority for such purposes.� The customs advocated the omission of these concessions, saying the private sector has entered into this field, and is earning substantial profit owing to the flourishing business.�Even no exemption is granted to this sector in the U.S. and other countries,� said the document.
 Finance Minister Ishaq Dar on Friday informed the Senate that the Federal Board of Revenue (FBR) had started negotiations with Swiss authorities to provide access to accounts of Pakistani nationals.</strongThe minister said that he was the first person in the country�s history who brought summary to the cabinet in this regard to empower the FBR.He said two meetings of the FBR officials have so far been held with the Swiss authorities. He added that he would present full details in this house.Regarding Rs200 billion of Pakistanis accounts in Swiss banks, Dar said that he had read about this in the press.He said that he would assign a job to the FBR if he had information about this. He added that Pakistan also acquired membership of a global setup in this regard.Meanwhile, minister Dar told the National Assembly that any decision regarding the extension of Custom Act in Malakand Division would be taken in the light of recommendations of the law ministry.He said the promise about payment of net hydel profit to Khyber Pakhtunkhwa would be fulfilled.�He added that it was 20-year old issue and the present government was trying to resolve it. The ministry of water and power is also involved in this issue.Earlier, lawmaker Sahibzada Tariqullah demanded withdrawal of the decision of imposition of Customs Act in Malakhand Division. The provincial government has already moved its summary, withdrawing its early decision.
 Minister Planning Development and Reform Ahsan Iqbal said on Saturday the first phase of China-Pakistan Economic Corridor (CPEC) would be completed by the year 2018.�</strongThe minister, in a statement, said the production of 10,000 megawatts of energy under CPEC would help overcome the energy crisis by 2018 as well as upgrade the existing road network of the country.Especially, western route through the construction of missing links on it would provide the safest and shortest passage of cargo from Gwadar seaport to upcountry for their onward movement to China�s western provinces.Ahsan Iqbal said that Pakistan and China were working closely and wholeheartedly to implement the CPEC projects in the speediest manner.Both sides, he said, were in constant touch through forums under the China-Pakistan Economic Corridor framework and were moving ahead smoothly and promptly to complete the projects.The minister said both sides realised the importance of China-Pakistan Economic Corridor for their own interests and for the benefit of whole region to integrate it economically for social and economic uplift of three billion people of the region.Ahsan Iqbal said there was unanimity in file and ranks of Pakistani society that the China-Pakistan Economic Corridor was a historical opportunity for sustained economic development and inclusive prosperity of the country and, �we must capitalise on it through a united approach.�He said Pakistan�s political leadership civilian government and military leadership time and again demonstrated their commitment to the completion of China-Pakistan Economic Corridor.They are all on the same page for a bigger national cause, Ahsan Iqbal said.He added that declarations of two all parties conferences on the China-Pakistan Economic Corridor bore testimony to that fact.
 Oil prices tumbled 5 percent early on Monday after a meeting by major producers in Qatar fell apart the day before, leaving the world awash with unwanted fuel.</strongInternational benchmark Brent crude futures were trading at $40.86 per barrel at 0029 GMT, down 5.2 percent since their last settlement.US crude futures were down 5.7 percent at $38.06 a barrel.Some 18 oil exporting nations, including non-OPEC Russia, had gathered in the Qatari capital of Doha for what was expected to be the rubber-stamping of a deal to stabilise output at January levels until October 2016.But the deal fell apart after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices."The failure is negative from the psychological point of view. It shows the inability of all sides to cooperate," said Gary Ross, the founder and executive chairman at New York-based consultancy PIRA.The development will revive industry fears that major producers are embarking again on a battle for market share in a world already awash with unwanted oil, especially after Riyadh threatened to raise output steeply if no freeze deal were reached.As a result Brent would likely average $36 per barrel during the second quarter of this year as a global glut continued unabated, it said."This meeting and its outcome should have built confidence that the oil market rebalancing was close at hand, as well as building a circle of trust among producers for possible future cooperation and coordinated action. In this regard, the meeting was a complete failure," Barclays added."The failure of the talks gives the market another clear indication (similar to the failed December 2015 OPEC meeting) that OPEC's relevance in this market environment has faded, and its ability to coordinate with members outside the group is equally difficult."Oil prices have fallen by as much as 70 percent since mid-2014 as producers have pumped 1 to 2 million barrels of crude every day in excess of demand, leaving storage tanks around the world filled to the rims with unsold fuel.Beyond the failed deal, however, there were signs of a tightening market due to an oil worker strike in Kuwait which may have cut its production from 2.85 million barrels per day (bpd) to just 1.1 million bpd.In the United States, oil services company Baker Hughes Inc said on Friday that drillers had cut their rigs to fresh 2009 lows as the industry suffers from low prices.
 European Union countries should consider taking tougher measures against banks and tax advisers who help their clients to hide money offshore, an EU Commission paper says.</strongThe document will be discussed at a meeting of EU finance ministers in Amsterdam on April 22-23, where tax evasion has been added to the agenda following the Panama Papers leaks."The Panama Papers have highlighted how certain European financial intermediaries and other providers of tax advice appear to have actively helped their clients to conceal money offshore," the document, seen by Reuters, said.Banks are already subject to financial sanctions and a possible withdrawal of their operating licences if they breach EU anti-money laundering rules.The Commission wants finance ministers to consider "more effective disincentives" for lenders and other tax advisers who assist in tax evasion schemes, the document said.The EU executive is reviewing anti-money laundering rules and is expected to make legislative proposals by June.Under consideration are also plans to increase transparency on the ultimate "beneficial" owners of companies and trusts, which often are hidden, thus allowing tax evasion.Current rules oblige EU states to set up registers of firms� owners, but do not require public disclosures.Trusts are at the moment subject to lower transparency requirements."It would be worth considering whether improvements are possible to enhance accessibility of beneficial ownership registers, to clarify the registration requirements for trusts," the EU Commission paper said.The Commission this year proposed measures to tackle tax dodging, urged large companies to reveal their tax data and called for a EU list of tax havens which should be subject to common sanctions.Commission Vice President Valdis Dombrovskis called on EU states to make "substantive progress" on all these issues in a letter sent to the Dutch presidency of the EU ahead of the Amsterdam finance ministers� meeting.
 Asian share markets rose on Tuesday, taking their cue from gains on Wall Street after a strike in Kuwait helped spark a recovery in crude oil prices.</strongMSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent.Japan's Nikkei stock index was up 3.4 percent in early trading, a day after it plunged by that same percentage as investors assessed the impact of earthquakes in southwestern Japan's Kyushu on manufacturers' supply chains.Brazil's Bovespa index fell 0.6 percent overnight as President Dilma Rousseff vowed to fight her impeachment, which could force her from office after 13 years of leftist Workers' Party rule.Beleaguered crude oil futures found a bottom after plunging as talks broke down in Doha over the weekend, where producers had hoped to curb a supply glut. A strike in Kuwait temporarily slashed the country's oil output by more than half, and helped pull crude prices off their lows.Brent crude was up about 0.1 percent at $42.97 a barrel, while U.S. crude added 0.5 percent to $39.96."Oil started the day sharply lower after key producers failed to reach an agreement to freeze production but the losses were short lived as reports of a strike in Kuwait sparked a U-turn that briefly took prices into positive territory," Kathy Lien, managing director at BK Asset Management in New York, said in a note to clients.That helped commodity-linked currencies come roaring back to life after steep losses following the Doha deal breakdown.The Australian dollar was last up 0.4 percent at $0.7775 after earlier rising as high as $0.7778, its highest since June. On Monday, it had skidded as low as $0.7594.The perceived safe-haven yen slumped in line with the recovery in risk appetite. The dollar added 0.3 percent to 109.12 yen, while the euro added 0.3 percent to 123.35 yen, moving away from the previous session's three-year low.Against the dollar, the euro edged down about 0.1 percent to $1.1306, as investors looked ahead to the European Central Bank's policy meeting on Thursday. While no change is expected, investors are awaiting Mario Draghi's news conference for clues on the central bank's thinking.The U.S. Federal Reserve will meet next week, and is also expected to hold pat on policy, though any suggestion that more hikes are on the way sooner rather than later would lift the greenback.New York Fed President William Dudley said in a speech on Monday that economic conditions are "mostly favorable" yet the central bank remains cautious in raising interest rates because threats loom.For the second time in as many weeks, Boston Fed President Eric Rosengren warned on Monday that futures markets, which see only one modest rate hike in each of the next few years, are off the mark.
 Asian shares reached six-month peaks on Wednesday as a falling US dollar and fading concerns about China lifted commodity prices and risk appetite generally.</strongMSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent to territory last visited in early November. Australia's resource-sensitive index rose 0.8 percent to its loftiest level in almost four months.Japan's Nikkei climbed 1.1 percent as the yen retreated, bringing its rally to 10 percent in nine sessions.On Wall Street the Dow ended Tuesday with gains of 0.27 percent, while the S&amp;P 500 rose 0.31 percent to close above 2100 for the first time in 2016.The Nasdaq eased 0.4 percent, while Intel shed 3 percent after hours as its results disappointed. The chipmaker lowered its revenue forest and said on Tuesday it would cut 12,000 jobs globally.Oil prices continued their recent see saw pattern, easing back in Asia after rising strongly on Tuesday. Brent crude lost 58 cents to $43.44 a barrel, while U.S. crude oil eased 73 cents to $40.35.Prices had gained as a strike in Kuwait cut production by 1.7 million barrels per day, partially offsetting the failure by oil producers to agree on an output freeze.Copper, iron ore, gold and silver all held hefty gains, with gold reaching $1,250.20 an ounce. That helped lift commodity currencies, and the Australian dollar notched a high not seen since June at $0.7827.Yet the US dollar still rallied on a weakening yen to reach 109.22, up from Monday's trough of 107.75.The euro edged up to $1.1358, from a low of $1.1234 set last week. Traders said much now depends on the outcome of the European Central Bank (ECB) policy meeting on Thursday.In March, ECB chief Mario Draghi unleashed an aggressive package but muted its impact by suggesting there would be no further cuts, giving the euro and unwelcome boost."Outside of some verbal discomfort at the euro's strength and reiteration that the ECB stands ready to take further action if necessary, it is difficult to see what he can do," analysts at ANZ wrote in a note to clients."The risks of a further squeeze higher in EUR/USD are significant," they added.
 Volkswagen has reached a deal with US authorities to settle the case over its cheating of diesel emissions tests that would involve it paying each affected customer $5,000, Germany�s Die Welt newspaper reported on Wednesday.</strongCiting unidentified sources close to the negotiations, Die Welt said the agreement would be presented on Thursday to Judge Charles Breyer in San Francisco, avoiding a trial that was set to start in the summer.A US federal judge last month gave Volkswagen and regulators until April 21 to agree on a fix for nearly 600,000 diesel cars on US roads implicated by VW�s emissions test-rigging scandal.
 Oil prices rose in Asian trade on Friday, setting crude futures on course for one of their biggest weekly gains this year, as sentiment has become more upbeat despite ongoing oversupply.</strongInternational benchmark Brent crude futures were trading at $45.09 per barrel at 0054 GMT, up more than half a<br/>dollar from their last settlement.U.S. West Texas Intermediate (WTI) crude was up 52 cents at $43.70 a barrel. With Brent up 8 percent since Monday and WTI 12 percent higher since April 18, this week is set for some of the steepest price rallies so far this year, and crude is up by more than two-thirds since its 2016 lows between January and February.Traders said that sentiment in the entire commodity complex had turned more confident, with new cash being put into the market by investors, lifting prices.Another factor has been producers taking advantage of higher prices by locking in production. "We would expect producers in the U.S. taking every opportunity to aggressively hedge as soon as there is opportunity when oil prices recover for short periods of time," French investment bank Natixis said.Falling output, especially in the United States, where many producers are shutting down following an up to 70 percent price<br/>rout since 2014, is also helping to lift the market.Natixis said it expected U.S. oil production to drop by at least 500,000 to 600,000 barrels per day (bpd) this year, compared with 2015, and by another 500,000 bpd in 2017.Despite the recent rally, oil markets remain oversupplied as<br/>between 1 and 2 million barrels of crude are being pumped out of the ground every day in excess of demand, leaving storage tanks around the world filled to the rims with unsold fuel.
 The 16th four-day Pakistan Gems and Mineral Exhibition started on Thursday in a bid to promote gems and minral sector.</strongThe exhibition was organised by the All Pakistan Commercial Exporters Association (APCEA) in collaboration with the Trade Development Authority of Pakistan (TDAP).The show would remain open till April 24 in which a large number of stone and gem traders and exporters from across the country have displayed their products.Speaking at the inaugural session of the show European Union Minister Alferd said the EU wished to enhance commercial relations with Pakistan.He advised the gems exporters to export value added products instead of raw material in order to get maximum monetary benefit from their products.He also called upon the ladies specially those belonging to the Northern Areas of the country to come forward and make their contribution in this sector to earn their livelihood.APCEA Chairman Zulfiqar Ahmed Siddiqui said the main purpose of the exhibition was to promote this export oriented sector which had a potential to fetch huge amount of foreign exchange for the country.He said the country had huge reserves of mineral resources and asked the government to facilitate the gems traders and exporters for the promotion of the sector.He also urged the commerce ministry to pay special attention to this sector as this had been a neglected sector.Joint Secretary Commerce Taimoor Tajamul said that this exhibition would help attracting specially the foreigners to the unique varieties of stones and gems of the country.He said the ministry of commerce was fully aware of the importance of this sector and assured the APCEA that they would be given due attention to promote this sector.
 WAPDA/Fesco has forwarded cases of 17 defaulters to the National Accountability Bureau (NAB) while criminal cases have been lodged against a majority of the above defaulters.</strongAccording to WAPDA/Fesco sources, cases of more than a dozen defaulters in several districts of Sargodha and Mianwali have been forwarded to NAB.Dues of hundreds of thousands stand outstanding against these defaulters but despite repeated reminders they have failed to deposit these dues in the national exchequer.After the above development, the NAB sent notices to the defaulters to clear their dues.
 Toyota Motor Corp plans to sell heavily electrified, so-called plug-in hybrid cars in China starting in 2018, its head of China operations, Hiroji Onishi, said on Sunday.</strongThe plan is aimed at taking advantage of generous purchase incentives made available to Chinese consumers buying such fuel efficient near-all-electric cars, along with all-electric battery cars in China.Onishi told a media event ahead of the Beijing auto show that the Japanese carmaker plans to launch plug-in hybrid versions of the Toyota Corolla and Levin in China in 2018."Our decision to launch plug-in hybrid versions of the Corolla and the Levin reflects the depth of our resolve and commitment to the Chinese market," Onishi said.He did not say whether Toyota plans to produce those cars in China, but the company officials at the announcement said that was a possibility.To qualify for China�s incentives for plug-in hybrids, Toyota officials at the event said it would have to meet certain conditions.One executive who declined to be identified said those plug-in hybrids for China should be able to run all on electricity for as far as more than 50 km (30 miles) when they are fully charged.
 Saudi Arabia�s King Salman replaced the minister for water and electricity Abdullah al-Husayen on Saturday with Agriculture Minister Abdulrahman al-Fadhli, who will do the job on an acting basis, state media reported, citing a royal decree.</strongThis week Deputy Crown Prince Mohammed bin Salman, who is responsible for sweeping economic reforms in the world�s top oil exporter, was quoted as saying increases in water tariffs had not been implemented in line with the plans.Saudi Arabia is seeking to reduce lavish subsidies on its power and water as it faces reduced income from oil exports thanks to lower crude prices since 2014, but raising tariffs is regarded as politically sensitive.The kingdom also introduced its first rises in petrol prices and electricity tariffs in many years when it announced the national budget in December. Power demand growth in the kingdom is estimated at around 10 percent a year and some electricity is produced by burning crude oil which would otherwise be available to sell on the global<br/>market.Riyadh is planning to introduce nuclear and renewable energy plants, but the proposals are still at an early stage.
strong>Gannett Co Inc, the publisher of USA Today, said it offered to buy Tribune Publishing Co but the publisher of the Los Angeles Times refused to begin constructive talks.</strong"We therefore are prepared to consider all alternatives to complete this transaction," Gannett Chief Executive Robert Dickey said in a letter to Tribune Publishing�s board.Gannett said it had offered $815 million including assumption of $390 million of debt. The offer of $12.25 per share represents a premium of about 63 percent to Tribune�s Friday closing price."Continuing to refuse to engage in a dialogue with us will only serve to delay the ability of your stockholders to receive the value represented by our all-cash offer," Dickey said.Tribune Publishing could not be immediately reached for comment. Tribune spun off its publishing assets into Tribune Publishing in 2014, and renamed the parent company, which houses its broadcasting and digital assets, Tribune Media Co.Tribune Publishing�s shares have lost half of their value in the last nine months. Gannett�s shares have gained 16 percent in the same period.
 Oil prices fell early on Monday as traders took profits after three weeks of gains and as a jump in the dollar late last week was priced into fuel </strong><strong>markets.</strongFront-month Brent crude futures were trading at $44.66 per barrel at 0043 GMT, down 45 cents, or 1 percent, from their last settlement. US West Texas Intermediate (WTI) futures were down around half a dollar, or 1.2 percent, at $43.22 a barrel.Analysts said the price drops were largely a result of cashing in after three weeks of rising prices. "I guess (there�s been) some profit taking after a strong<br/>rally into the end of last week," said Virendra Chauhan of Energy Aspects in Singapore.Market data shows that the amount of open positions betting on rising WTI prices rose to levels last seen in June 2015 last week. At the same time, the amount of deals taken out in expectations of falling prices fell close to 2016 lows and levels prior last seen in the second quarter of last year."If the selling pressure lasts through today, I suspect there�ll be a bit of a dent in the newest data when it gets released tomorrow," said one crude trader.A jump in the dollar on Friday against a basket of other leading currencies on expectations that Japan will further extend its aggressive monetary easing through negative interest rates, also dented oil.A stronger dollar, in which oil is traded, makes fuel imports for countries using other currencies more expensive, potentially hitting demand. Monday�s early oil price drops came despite another decline in the US rig-count that brings activity down for a fifth straight week and to levels last seen in November 2009.A total of 343 rigs were drilling for new oil last week.That compares to over 700 this time last year, according to oil services company Baker Hughes Inc on Friday. Energy firms have sharply reduced oil and gas drilling since<br/>the collapse in crude markets began in mid-2014, bringing down prices by as much as 70 percent to 13-year lows earlier this year.
 Automakers in China face a war of attrition in the market for environmentally friendly cars as tighter regulations force heavy spending on development and production while a slowing economy leaves the demand outlook hazy.Top vehicle manufacturers from around the world laid out plans for new green offerings at an auto show that kicked off here Monday -- a massive event featuring more than 1,600 companies and nearly 1,200 new models.Volkswagen, still struggling to recover from an emissions scandal, was in the spotlight early on. It will invest more than 4 billion euros ($4.5 billion) in 2016 alone in such areas as environmental and safety technology, said Jochem Heizmann, who heads the German company's operations here.China is VW's most important market. With the government planning to adopt the world's toughest emissions regulations in 2017, the automaker intends to roll out 15 eco-car models over the next three to four years. It will begin full-scale production of a plug-in hybrid based on the Golf around 2018.Toyota Motor plans to build a plug-in-hybrid version of the Corolla starting that year. The company arranged the rollout schedule to coincide with a number of planned launches of plug-in hybrids by other automakers, said Hiroji Onishi, head of China operations.Honda Motor �will begin production of an Accord hybrid this July and release a plug-in hybrid in 2020. Market leader General Motors plans to spend 100 billion yuan ($15.3 billion) over the next five years to promote sales of electric and other vehicles.China led the world in new-car sales for a seventh straight year in 2015, at 24.59 million vehicles. Even if market growth slows, many still see plenty of room for expansion, given that the country has just over one car for every 10 people. Automakers are scrambling to roll out new models to take advantage of generous subsidies for eco-car purchases.But "demand is strong now because of the tax break on compact cars that started last October," said Nobuhiko Watabe, an executive officer at Mazda Motor, adding that the true state of affairs is dire. Automakers' margins are narrowing as price wars become the norm on sales floors.
 A weaker dollar and equities helped gold extend gains into Tuesday, with investors cautious ahead of policy meetings this week at the Bank of Japan and the U.S. Federal Reserve.</strongThe U.S. dollar fell versus the yen as traders took profits from the greenback's recent rally against the Japanese currency. Expectations of a dovish Fed also hurt the dollar. Asian stocks retreated as investors were wary of riskier assets ahead of the central bank meetings.Spot gold had edged up 0.1 percent to $1,238.83 an ounce by 0250 GMT, after gaining 0.5 percent in the previous session."The metal continues to be influenced to a large extent by dollar movements," said HSBC analyst James Steel, adding that he expects gold to reach $1,300 this year."As well as a weaker dollar, we see global risks and a modest recovery in oil prices as gold-bullish. The more tame Fed tightening cycle, compared to expectations last year, should also support gold," Steel said.MKS Group trader Sam Laughlin said support around $1,230 should keep the metal buoyant, though gains will be limited by the Fed announcement on Wednesday.Speculation of further easing sent the yen reeling against the dollar late last week, but uncertainty over whether the BOJ will actually deliver fresh stimulus at its April 27-28 meeting saw the Japanese currency recover some ground.The Fed also holds a policy meeting this week, with the two-day gathering kicking off on Tuesday. The U.S. central bank is not expected to raise interest rates at the meeting, but markets will be looking for its take on the global economy and its monetary policy outlook.Economists expect the Fed to deliver a rate hike in June, and follow up with another by year-end. But interest rate futures show less conviction, underscoring an ongoing wide gap between markets and policymakers on the trajectory of rates.Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar.Assets in SPDR Gold Trust, the largest gold-backed exchange-traded fund, fell 0.3 percent to 802.65 tonnes on Monday, though remained not too far off a two-year high reached earlier this year.
 Lucky Cement said on Monday it hopes in the next month or so to award a contract to build a 660-megawatt coal-fired plant at the country�s industrial hub as the company has started negotiations with potential contractors.</strong�Negotiations with potential EPC (engineering, procurement and construction) contractors have started and the EPC contract will be concluded during the month of May 2016,� the company said in a bourse filing.In March, the government issued a licence to Lucky Electric Power Company, a concern of Lucky Cement, to generate electricity from its 660-megawatt coal-fired plant in Karachi.The Pakistan Power Infrastructure Board issued letter of intent to the Lucky Cement subsidiary, which plans to setup the plant on imported coal at Deh Ghangario, Bin Qasim Town.The coal requirement of the Lucky�s project is likely to be handled at the Pakistan International Bulk Terminal (PITB) for which sponsors need to enter into coal handling agreement.Lucky said it has targeted �to achieve a financial close in August 2016� but didn't give any further details.Analysts said the project cost will cost around $1.08 billion and it will be built mostly through local financing. �The project would be undertaken with 25/75 percent debt to equity ratio and Lucky is expected to make a 25 percent of the investment required,� said an analyst. �The balance of 75 percent would be made available through seeking debt from the local financial institutions."Lucky also said it has injected equity investment in another associated company for 50 megawatts wind farm project.�Major construction activities have been completed and the project has entered the final phase of implementation i.e. testing and commissioning of the complex,� it added. �The project is expected to achieve COD (Commercial Operation Date) by the end of June 2016.�Lucky Cement, the leading cement maker, has a combined production capacity of 7.75 million tons/annum. It plans to build a new cement plant in the north region of the country to meet growing demand.� The panned plant will be the company�s third production facility in the country.�The company earlier said an initial work of the new plant worth $200 million is progressing fast and it is in talks with the Punjab government to acquisition land for the project. Similarly, it is also in the process of negotiating contract with the equipment suppliers.Lucky cement has also initiated a $240 million plant in the Democratic Republic of Congo in June 2013. �The construction work at the project site is in full swing to achieve planned commercial operations date of October 2016,� the statement said.�The effect of 50 percent share of the net assets of the Congo plant has been reflected in the consolidated unaudited condensed financial statements of the company for the nine months period ended March 31, 2016.�
strong>Twitter Inc reported lower-than-expected revenue for the first quarter, hurt by weaker than expected spending by big advertisers, and the microblogging service forecast current-quarter revenue well below analysts� expectations.</strongTwitter shares plunged 12.3 percent to $15.58 in extended trading on Tuesday. Twitter�s user base grew modestly to 310 million monthly active users in the quarter ended March 31 from 305 million in the fourth quarter, above analysts� expectations.Yet investors were disappointed by Twitter�s revenue miss since outlining a turnaround plan. "It�s obvious Twitter is having trouble," said Arvind Bhatia, analyst with CRT Capital."It�s not growing anywhere close to where people expected a while back. "Twitter has struggled with stagnant user growth as its complicated interface makes it less attractive to new users.As part of its turnaround plan, the company has emphasized its live offerings, including live commentary and video streaming through its Periscope app, to attract new users.But it faces fierce competition from Facebook Inc, which has recently ramped up its live video product, Facebook Live.Twitter said it was optimistic that its new product offerings, including a refined algorithmic timeline and live video improvements, would continue to attract new users and improve engagement on the site."We remain focused on improving our service to make it fast, simple and easy to use," Chief Executive Jack Dorsey said in a statement.The company forecast revenue of $590 million to $610 million for the second quarter. Analysts on average were expecting $677.57 million, according to Thomson Reuters I/B/E/S.First-quarter revenue rose 36 percent from a year earlier to $594.5 million, but widely missed the average analyst estimate of $607.8 million.Its net loss narrowed to $79.7.million, or 12 cents per share, from $162.4 million, or 25 cents per share, a year earlier.Excluding items, Twitter earned 15 cents per share, beating the average estimate of 10 cents.
 Pakistani stocks ended higher on Thursday, aided by gains in banking shares which rose on improved first-quarter results, dealers said.</strongThe benchmark 100-share index at the Pakistan Stock Exchange closed up 0.68 percent at 34,503.64."Banking sector attracted investors on better first-quarter results.Cement sector also continued to perform on the back of news regarding approval by the National Electric Power Regulatory Authority to reduce power tariff," said Imran Ali, head of research at Invest and Finance Securities Pvt Ltd.Habib Bank Ltd gained 1.86 percent, United Bank Ltd rose 2.25 percent and MCB Bank climbed 0.90 percent.The rupee ended at 104.80/104.84 against the dollar, compared with Wednesday�s close of 104.80/104.86.Overnight rates in the money market fell to 5.90 percent from Wednesday�s close of 6.20 percent.
 The oil seed crop sunflower is almost ready for harvest after maturing and experts have advised farmers to undertake harvest with proper care as even a minor lapse can cause losses.</strongSunflower is a sensitive crop that usually gets maturity in 120 to 130 days but its maturity duration depends on the variety and weather, says a release issued by media liaison unit of Punjab Agriculture department here Thursday.Experts said that before embarking on harvesting farmers should visit the field to see whether it was 100 percent ready for harvest.The crop is ready for harvest when the back of the flowers attains golden colour half portion of the green leaves fall down and there is no milkier complexion of the seeds.Farmers should pluck sunflowers by scythe a hand driven tool traditionally called daranti . These flowers be spread on a platform some one foot above the ground for two to three days.Then these flowers should undergo thresher machine process for separation of seeds. Farmers can also beat flowers by wooden sticks in case of smaller production.The sunflower seeds are then dried in Sunlight. Combined harvester is applied in case of higher production obtained from a vast area.Rainfall on the standing crop can also inflict fungus on sunflower seeds or their seeds could be eaten by birds.
 Oil and Gas Regulatory Authority (OGRA) has recommended increase in petroleum product prices from May 01, sources said.</strongAccording to the sources, the regulatory body has finalized its working to fix the fuel prices from next month.The summery will be sent to Ministry for Petroleum and Natural Resources today (Thursday), the sources added.According to the summery, the OGRA has recommended Rs04 per litre increase in petrol price, High Speed Diesel by Rs4.41 and kerosene oil by Rs0.16 per litre.
 Asian stocks rose on Thursday after the U.S. Federal Reserve offered few clues on its monetary policy outlook, while the dollar edged higher as investors awaited the Bank of Japan's policy decision.</strongMSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent. Japan's Nikkei jumped 1.1 percent, while S&amp;P 500 e-mini futures ESc1 edged up 0.1 percent, after Wall Street posted solid gains overnight.In its statement issued after its meeting on Wednesday, the Fed left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten."The committee continues to closely monitor inflation indicators and global economic and financial developments," the Fed said following its two-day meeting.The BOJ's policy decision, which is often announced around noon in Tokyo, or 0300 GMT, will be a close call.Policymakers are likely hesitant to take further steps after unveiling their negative interest rate policy in January, though a strong yen and receding inflation expectations could prompt them to ease further.Data issued early on Thursday showed Japan's core consumer price index fell 0.3 percent from the year-ago period, compared with economists' median estimate for a 0.2 percent gain.Separate data showed industrial output rose more than expected and labour demand jumped to the highest in two decades, but renewed worries about weak private consumption are likely to temper any optimism about the economy."USD/JPY is likely to fall steeply if there is no change in policy," Sean Callow, senior currency strategist at Westpac in Sydney, said in a note to clients. "Most likely there will be at least some tweaks of the existing suite of policies."The dollar edged up 0.2 percent to 111.61 yen, moving back towards a three-week high of 111.90 notched on Monday.The euro was steady at $1.1324.U.S. crude futures CLc1 were down 0.2 percent in early Asian trading at $45.22 a barrel, after hitting their 2016 high of $45.62 following the Fed's decision. Brent LCOc1 also rose to the highest for this year at $47.45, but shed 0.3 percent in Asian trade to $47.04.Earlier in the session, the Reserve Bank of New Zealand kept its benchmark interest rate unchanged at 2.25 percent, but reiterated further easing may be needed given weak inflation.The decision propelled the New Zealand dollar up 1.6 percent to $0.6919, after it rocketed as high as $0.6944.Brazil's central bank also left interest rates unchanged late on Wednesday, leaving its benchmark Selic rate BRCBMP at 14.25 percent for the sixth straight meeting in its fight against high inflation in what could be the current board's last decision ahead of that country's likely change of government.
 The International Monetary Fund (IMF) said on Friday it has reached agreement with the Sri Lankan government for a $1.5 billion bailout to help the island nation avert a balance of payments crisis.</strongThe three-year loan will require IMF board approval in June, the global lender said, and is subject to Sri Lanka implementing reforms, including streamlining the tax code and reducing a bloated deficit."The Sri Lankan authorities and the IMF have reached a staff-level agreement on a 36-month Extended Fund Facility (EFF)," for a $1.5 billion loan, Todd Schneider, IMF mission chief for Sri Lanka said in a statement.The agreement comes as debt-laden Sri Lanka faces a looming balance-of-payment crisis due to heavy foreign outflows from government securities and high external debt repayments.Sri Lanka�s foreign exchange reserves have fallen by a third from their peak in late 2014 to $6.2 billion at end-March.The government will seek to raise the tax-to-gross domestic product (GDP) ratio, which was 10.8 percent in 2014, to near 15 percent by 2020 through a new Inland Revenue Act, reform of the VAT and the customs code, Schneider said.The loan - the second bailout from the IMF since 2009 � will support the government�s ambitious economic reform agenda aimed at fundamental changes to tax policy, reverse a two-decade decline in tax revenues, and put public finances on a sustainable medium-term footing, Schneider said.
Gold held near its highest in a week on Friday and was poised for its biggest weekly rise in eight, as the dollar tumbled after the Bank of Japan and the U.S. Federal Reserve stood pat on policy.strong>FUNDAMENTALS</strong* Spot gold was little changed at $1,265.61 an ounce by 0025 GMT, after climbing to its highest in a week at $1,269.70 on Thursday.* For the week, the metal is up 2.7 percent in what would be its biggest weekly jump since the week ended March 4.* The U.S. dollar and euro posted their biggest daily losses against the yen in more than five years on Thursday in the wake of the BOJ's surprise decision not to further ease monetary policy.* The dollar was set for a 1.5-percent weekly loss against a basket of major currencies. Stocks around the globe fell, supporting safe-haven gold.* The Federal Reserve's decision on Wednesday to leave interest rates unchanged also helped. The Fed kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. economy.* Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.* After three straight years of losses, analysts are finally prepared to say gold prices have found a bottom, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade.* U.S. data on Thursday supported views the Fed will take a cautious stance in hiking rates this year. U.S. economic growth braked sharply in the first quarter to its slowest pace in two years.* Assets in SPDR Gold Trust (GLD), the world's largest gold-backed exchange-traded fund, rose 0.19 percent to 804.14 tonnes on Thursday.* Among other precious metals, silver was on track for a fourth straight weekly gain, while platinum was eyeing its fifth weekly rise.
strong>LinkedIn Corp, the operator of the world�s biggest online network for professionals, reported a 35 percent rise in quarterly revenue as demand grew for its hiring services.</strongHowever, the net loss attributable to LinkedIn widened to $45.8 million, or 35 cents per share, in the first quarter ended March 31 from $42.5 million, or 34 cents per share, a year earlier.Revenue rose to $860.7 million from $637.7 million.
 A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company�s plan to issue new Class C stock, calling the move a "patent attempt" to entrench chief executive Mark Zuckerberg as controlling shareholder.</strongThe lawsuit, filed in the Delaware Court of Chancery, comes two days after the social networking company announced its plan to issue the shares.
 Iran�s oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanctions were lifted in January, Oil Minister<br/> Bijan Zanganeh was quoted as saying on Sunday by the Shana news<br/> agency.Iran, whose exports to South Korea were less than 100,000 barrels a day before sanctions were lifted, has since worked to quickly boost its output.It has focused on selling to its traditional customers in Asia, but has also shipped cargoes to Europe.According to data from Energy Aspects, global imports of Iran�s crude rose in March to 1.90 million bpd, from 1.51 million bpd in February.Zanganeh also said Iran and South Korea were working to resolve difficulties in transferring payments for the oil sales, alluding to the continued reluctance of international banks to enter the Iranian market.Most international sanctions were lifted in January under last year�s nuclear deal, including those targeting the oil sector, but some U. S. sanctions and a U.S.trade embargo remain in place.
 Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse.</strong"I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and then defend their own bonuses in a public debate," Schaeuble told German weekly Frankfurter Allgemeine Sonntagszeitung. "That shows that something is not working."Volkswagen plans to pay the 12 current and former members of its management board 63.24 million euros ($72.44 million) for 2015, a year when Europe's largest carmaker posted a record loss due to legal and compensation costs for cheating diesel emissions tests.The company withheld a small part of bonus payments but will award them at a later date if certain performance criteria are fulfilled, including a recovery of the Volkswagen's share price.The bonus payouts have sparked public outrage in Germany and a spat within Volkswagen's supervisory board.Lower Saxony, VW's second-largest shareholder, had called for executive bonuses to be scrapped or cut as Europe's largest automaker counts the multi-billion-euro costs of "Dieselgate".Joerg Bode, a former supervisory board member who had represented Lower Saxony, told weekly Welt am Sonntag that ex-CEO Martin Winterkorn and his colleagues should pay back the part of the bonuses that had been generated by "cost cuts through fraud".Current supervisory board member Bernd Osterloh said last week that the carmaker should look beyond contractual obligations and that the management board should volunteer to cut their bonus payments. "It is also about morals," he had said.Osterloh also said that the supervisory board should also discuss changes to its own remuneration system once the dieselgate scandal has been resolved."As soon as business is back to normal we should think about changing the (remuneration) system (of the supervisory board)," Osterloh was quoted by Welt am Sonntag as saying.A swift change to fixed salaries and abolishing variable pay components tied to dividends would be a wrong signal as that would effectively lead to a hike in remuneration, the Volkswagen labor chief told the paper.Following its record 2015 loss VW had slashed its dividend to 0.17 euros per preferred share from 4.86 euros.
 The World Bank (WB) has approved a package of assistance worth $1 billion to support Pakistan�s economic reforms.</strongThe assistance package consists of two Development Policy Credits (DPCs) to support the Government of Pakistan�s efforts to improve the power sector, and reinvigorate growth and investment for reducing poverty and building shared prosperity.�The Government of Pakistan deserves appreciation for stabilizing the economy, initiating reforms in the power sector as well as revenue mobilization and drawing in the private sector for spurring growth�, said Philippe H. Le Houerou, Vice President of World Bank Group�s South Asia Region.
 Oil prices dipped in early Asian trade on Monday as rising production in the Middle East outweighed falling US output and the recent slide in the dollar, which has been supporting crude.</strongBrent futures were trading at $47.05 (32 pounds) per barrel at 0028 GMT on Monday, down 32 cents from their last settlement. US crude was down 28 cents at $45.64 a barrel.Analysts said rising output from the Organization of the Petroleum Exporting Countries (OPEC) and especially the Middle East was outweighing supportive factors such as an ongoing, albeit slow, fall in U.S. output and a sliding dollar, which makes it cheaper for countries using other currencies to import dollar-traded fuel."The weaker dollar failed to excite investors in the crude oil markets," ANZ bank said, citing a rise in OPEC-output as the main downward driver for prices.The dollar has fallen over 6 percent this year against a basket of other leading currencies.French bank BNP Paribas said that a recent oil rally, with prices jumping almost a third since April, was largely driven by sentiment and lacked physical fundamentals."The recent rally in oil prices ... appears to have little to do with fundamentals," it said."We see the recent rally as sowing the seeds of its own demise, and extending our recommendation to protect against short-term downside risk."OPEC-supplies rose to 32.64 million barrels per day (bpd) in April, from 32.47 million bpd in March, according to a Reuters survey based on shipping data and information from sources at oil companies, OPEC and consultants.That almost matches January's 32.65 million bpd, when Indonesia's return to OPEC boosted production to records.Despite Monday's lower prices, other analysts are growing confident that a near-two-year rout in oil has ended, and many have raised their price forecasts.The chief of the International Energy Agency (IEA) said oil prices may have bottomed out, providing the health of the global economy does not pose a concern."In a normal economic environment, we will see the price direction is rather upwards than downwards," IEA Executive Director Fatih Birol said on Sunday.Non-OPEC output is set to fall by more than 700,000 bpd this year, the biggest decline in around 20 years, he said.With global oil demand seen growing by 1.2 million bpd this year, the draw in global stockpiles will start soon, helping push up prices, he said.
 The World Bank (WB) has approved a package of assistance worth 1 billion to support Pakistan�s economic reforms.The assistance package consists of two Development Policy Credits (DPCs) to support the Government of Pakistan�s efforts to improve the power sector and reinvigorate growth and investment for reducing poverty and building shared prosperity.�The Government of Pakistan deserves appreciation for stabilising the economy, initiating reforms in the power sector as well as revenue mobilisation and drawing in the private sector for spurring growth�, said Philippe H Le Houerou, vice president of World Bank Group�s South Asia Region.�Staying on the structural reform path is important for competitiveness of the economy which in turn is essential for creating jobs and lifting millions out of poverty in Pakistan,� he added.The Power Sector Reform DPC of 600 million with additional co-financing support of the Asian Development Bank and Japan supports Pakistan�s goal of developing an efficient and consumer�oriented electric power system that meets the needs of its people and economy sustainable and affordably
strong>Gold nursed small overnight losses on Tuesday, but the metal wasn't too far from a 15-month high on dollar weakness and as assets of the biggest bullion fund rose to their highest in over two years.</strongstrong>FUNDAMENTALS</strong* Spot gold was little changed at $1,291.45 an ounce by 0050 GMT. The metal rose to its highest since January 2015 of $1,303.60 but ended the day lower by 0.2 percent.* Gold has risen sharply in recent days after the dollar slumped on the Federal Reserve's cautious stance towards higher U.S. rates and as the yen soared after the Bank of Japan stood pat on policy last week.* Worries over Japanese policymakers' inability to stem the yen's rise had pushed the dollar to an 18-month low early on Monday, supporting gold's rise above $1,300.* But the dollar later edged up against the yen on Monday, although it declined against other major currencies.* Data on Monday showed U.S. factory activity expanded at a more moderate pace in April. But a rise in export orders to a near 1-1/2-year high and signs that an inventory overhang drag was fading offered hope for the manufacturing sector.* Investors are closely watching U.S. data to gauge the strength of the economy and its impact on the Fed's monetary policy.* Also supporting gold was the sharp increase in money flowing into SPDR Gold Trust (GLD), the world's top gold-backed exchange-traded fund.* Assets of the rose 2.59 percent to 824.94 tonnes on Monday in its biggest increase since Feb 22. Holdings are at their highest since December 2013.* Among other precious metals, silver was also near a 15-month high of $18.006 reached on Monday. It edged up 0.3 percent to $17.577 early on Tuesday.* Platinum was firm at $1,076 an ounce after climbing to a 10-month high of $1,085.40 on Monday. Palladium steadied at $617.47.
 Oil prices dipped in early Asian trading on Tuesday on signs that production in the Middle East is continuing to rise, countering falls in U.S. output and threatening to keep a global supply overhang in place for longer.</strongThe international Brent crude benchmark was trading at $45.68 per barrel at 0100 GMT, down 15 cents from its last close.U.S. West Texas Intermediate (WTI) crude futures were down 6 cents at $44.72 a barrel.The dips came as Iraq, the second biggest exporter within the Organization of the Petroleum Exporting Countries (OPEC), was the latest OPEC-member to announce its exports were rising, reporting oil shipments from southern fields at an average rate of 3.364 million barrels per day (bpd) in April.That was higher than the March average of 3.286 million and close to its November record of 3.37 million bpd."Energy was weaker. Concerns over rising OPEC supply were raised after Iraq announced it had shipped 3.36 million bpd in April," ANZ bank said on Tuesday.Production in OPEC�s biggest exporter, Saudi Arabia, was 10.15 million bpd in April, but sources have said it may rise to near-records of 10.5 million bpd in coming weeks.Adding to surging Middle East output is Iran which, relieved of crippling sanctions in January, has increased its exports to almost 2 million bpd currently from little over 1 million bpd at the start of the year, with sales especially to South Korea soaring.The surging supplies from the Middle East counter falling U.S. output, where production has declined from a peak of around 9.6 million bpd in June 2015, to below 9 million bpd now, according to U.S. Energy Information Administration (EIA) data."It was the falling U.S. production that helped lift prices earlier this year, so if a surge in Middle East output now counters the U.S. decline, then we could well be in for another downward correction in oil markets," one trader said.Crude futures surged by almost a third in April, and they have recovered over 70 percent from decade lows reached in early 2016."A weaker dollar, falling U.S. oil production, improving economic data from China, combined with large speculative positions fuelled the rally.Analysts, however, have cautioned that inventories remain high and oversupply persists," Singapore Exchange (SGX) said on Tuesday in its monthly report.
 Johnson &amp; Johnson was ordered by a US jury on Monday to pay $55 million to a woman who said that using the company�s talc-powder products for feminine hygiene caused her to develop ovarian cancer.</strongThe verdict is the second straight trial loss for the company, which is facing approximately 1,200 lawsuits accusing it of not adequately warning consumers about its talc-based products� cancer risks.Following a three-week trial in Missouri state court, jurors deliberated for about a day before returning a verdict in favor of plaintiff Gloria Ristesund.J&amp;J spokeswoman Carol Goodrich said the verdict contradicted 30 years of research supporting the safety of cosmetic talc. The company intends to appeal the jury�s decision and will continue defending its products� safety, she said.Ristesund said she used J&amp;J�s talc-based powder products � which include the well-known Baby Powder and Shower to Shower Powder � on her genitals for decades. According to her lawyers, she was diagnosed with ovarian cancer and had to undergo a hysterectomy and related surgeries.The verdict follows a $72 million jury award from the same court in February to the family of a woman who died from ovarian cancer after years of using talc powder for feminine hygiene.Plaintiffs in talc litigation, which is concentrated in Missouri and New Jersey state courts, have accused J&amp;J of failing for years to warn that talc was linked to an increased risk for ovarian cancer.J&amp;J has said that it acted properly in developing and marketing the products.
 Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang.</strongInternational Brent crude futures were trading at $44.95 per barrel at 0445 GMT, down 2 cents from their last settlement.U.S. West Texas Intermediate (WTI) futures were up 7 cents at $43.72 a barrel.This followed two trading sessions in which Brent fell nearly 7 percent and WTI nearly 5 percent from end-April levels, with crude pulled down by rising output from the Middle East and renewed signs of economic slowdown in Asia."Asia's big markets continue to disappoint: Japan sank further, China relapsed, and India slipped," said Frederic Neumann of HSBC in Hong Kong, adding that exports were "stuck below the waterline" and "local demand looks wobbly, too."In the United States, the economy is also stuttering."Year-on-year factory orders dropped for a 16th straight month," said the U.S.-based Schork Report. "The U.S. is set for sub-3 percent growth for a record 11th year," it said.In oil production, U.S. output has fallen from a peak of over 9.6 million barrels per day (bpd) in summer last year to just over 8.9 million bpd currently. That, traders said, has helped lift oil prices away from decade lows under $30 per barrel touched earlier this year.However, the country's crude inventories rose by 1.3 million barrels in the week to April 29 to 539.7 million barrels, according to data from the American Petroleum Institute, enough to meet global demand for almost a week.Still, strong demand for refined products reduced stockpiles of gasoline, diesel and heating oil.Thanks to ongoing strong demand and further expectations of U.S. production cuts oil prices would likely rise in the short-term, BMI Research said on Wednesday."We anticipate a strong pullback in non-OPEC supplies. We also expect some support from the U.S. (summer) driving season. Bloated crude stocks will thus unwind in the coming months," BMI said."We believe prices will strengthen above $50 per barrel, trading in a range of $50-$60 per barrel until the end of the year," it said.
 K-Electric has won two national awards in recognition of its commitment to promote a safety culture within the organization in line with global best practices.</strongThe power utility�s first award is �National Fire and Safety Award� received from National Forum for Environment and Health (NFEH) and in collaboration with Fire Protection Association of Pakistan.This is the fifth consecutive year that KE has won this award, according to the statement released by the company on Thursday.Meanwhile, KE has also received third position in the �Overall Category� awarded by Employers� Federation of Pakistan-Occupational Health, Safety and Environment (EFP-OSH&amp;E) in partnership with International Labor Organization.
 �Federal Commerce Minister Khurram Dastgir Khan has said that Pakistan is now coming out of dark period of extremism and energy crisis.He was addressing a launching ceremony of �report on Trade and Economic Development� in Islamabad on Thursday.The Minister said the government will reform import regulations to ensure high quality raw material for the industry.He said the government is encouraging the foreign investment in the country.Speaking on the occasion, Executive Director Sustainable Development Policy Institute Abid Suleri said export�oriented policy will help create immense job opportunities for the youth.
 A Spokesman of the State Bank of Pakistan (SBP) has said that as per Federal Government�s Gazette Notification of June 4, 2015, the old design banknotes would cease to be legal tender with effect from December 1, 2016.</strongThe Spokesman in a statement said, it has now been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000.He said that the Rs 5 banknote and the old design Rs 500 banknote have already been demonetized.
 Pakistan has been successful in establishing and growing its apparel manufacturing industry, however, more can be done to realize its potential as a regional hub and to continue to boost opportunities, especially for women and the poor, according to a new World Bank report.The Stitches to Riches Apparel Employment Trade and Economic Development, launched in Pakistan today, is aimed at demystifying the global and South Asian apparel markets, estimating the potential gains in exports and jobs and identifying policies that can unleash country� s export and job potential compared with those of their closest competitors in the Southeast Asia region � Vietnam, Cambodia and Indonesia.The report finds that it is important for South Asian economies to remove existing impediments and facilitate growth in apparel to capture more production and create more employment as wages rise in China.The successful manufacturers will be those who can supply a wide range of quality products to buyers rapidly and reliably,�not just those who offer low costs.China currently dominates global apparel trade but that may change in coming years due to the rising prices in China.Investors are compelled to seek out apparel firms in other countries. The potential decrease in Chinese exports presents a huge opportunity for South Asian countries.A 10 percent increase in Chinese apparel prices would increase apparel employment in Pakistan for males by 8.93 percent,�by far the biggest winner,�followed by Bangladesh 4.22 percent and India 3.32 percent.Women are also expected to benefit the most as their share in the total apparel employment is much higher than their share in other industries. This is true for Pakistan as well.The report finds that 1 percent increase in expected wages in Pakistan would raise the probability of women entering the labor force by 16.3 percent. Job creation is among the government�s top priorities.Apparel manufacturing presents the poor with job opportunities in Pakistan, especially for females, says Illango Patchamuthu, World Bank Country Director for Pakistan.These employed women would in return spend more on the health and education of their children which will contribute towards the larger development goals of the country.Pakistan has a fast�growing apparel sector that accounts for 19 percent of its exports and firms are competitive with global exporters in terms of prices.Yet despite low prices in most apparel product categories, Pakistan lags competitors in reliability and policy continuation. It also remains highly concentrated in cotton products.South Asia has taken many steps in recent years to support the textile and apparel sector but it now needs to step up its game by tackling inefficiencies that are undercutting its competitiveness, says Gladys C Lopez�Acevedo, one of the authors of the report and a Lead Economist for the World Bank.Pakistan should use this opportunity and implement policies to become a regional leader in creating good jobs, bringing more women into the work force and diversifying its products and end markets to increase skills and value.The report suggests that Pakistan could benefit from the following policies. Increase product diversity by reducing barriers on imports to ease access to man-made fibers such as duty and tax remission for exports and export processing zones.
 Pakistan is wooing foreign car makers like Renault and Nissan with generous import duties, but convincing them to set up factories will be an uphill challenge given fears about the country's long-term political stability and security.</strongPakistan wants to shake up its Japanese-dominated car market and loosen the grip of Toyota, Honda, and Suzuki, whose locally assembled cars are sold at relatively high prices but lag behind imported vehicles in terms of quality and specifications.To do that, analysts say, the government must convince manufacturers that the country has turned a corner after a decade of economic turbulence and a series of major attacks by militant groups including the Taliban.With the economy growing at its fastest pace in eight years, the local currency stable against the dollar and interest rates at their lowest in 42 years, Pakistani officials believe the country is once again on the radar of investors seeking to tap into a market of nearly 200 million people.Officials are touting a new auto policy, skewed in favour of new entrants, that includes offering foreign car manufacturers lower duties as an incentive to set up plants in Pakistan or revive shuttered ones."We expect that there will be one or two foreign investors coming into Pakistan," said Miftah Ismail, chairman of Pakistan's Board of Investment, who has been talking to car makers about setting up assembly plants for the local market.Ismail told Reuters he had held talks with Japan's Nissan and France's Renault for "some time", and last month met Fiat executives in Italy for the first time.Previous discussions also involved Germany's Volkswagen."I hope some people will bite," he said.A source close to Renault said Pakistan was under consideration for new production investment, along with other potential locations, but added that discussions were at a very early stage. In an e-mailed statement, the company said it had "no news to announce at this time".Nissan chief spokesman Jonathan Adashek said: "Pakistan is certainly a market of interest for us at present", but added no final decision had been made.strong>STABILITY</strongAnalysts say the odds are stacked against Pakistan finalising deals, despite the concessions on offer.A major obstacle is the perennial concern about political stability.The threat of militant attacks also remains high, despite the armed forces' long-running campaign against groups including the Taliban.Foreign companies have been reluctant to invest large sums when the long-term outlook is so uncertain."There is potential in Pakistan. There is no doubt about that," said Puneet Gupta, associate director at consultant IHS Automotive. "(But) we really don't feel Pakistan is in a relatively stable condition, from a mid to long-term perspective."Another potential turn off for investors is the size of Pakistan's car market, where 180,000 cars were sold in the 2014/2015 fiscal year. That compares with more than 2 million passenger vehicles a year in neighbouring India."The Pakistan market is not big enough," said Mumshad Ali, chairman of the Pakistan Association of Automotive Parts.He added that the government's new policies were probably not bold enough to tempt new manufacturers, nor did they address ways to increase demand, such as lowering sales taxes.The local manufacturing partners of Suzuki, Toyota and Honda did not respond to requests for comment.But Ali said they felt aggrieved that the government was favouring new investors and believed they should be similarly encouraged to build new plants and expand existing factories.Ismail said new entrants would be able to import machinery for plants duty free. Customs duty for importing car parts has been set at 10 percent, while existing players will have to pay 30 percent."We want greater competition, and we expect with greater competition consumers will be offered better choices," he said.Some Pakistanis are frustrated by high prices and the quality of locally produced cars, which tend not to have airbags, anti-lock breaking systems (ABS) and other features considered standard elsewhere.The cheapest Pakistani car, the Suzuki Mehran, sells for 650,000 Pakistani rupee ($6,200), or about double the price of a comparable model in India."Local cars are so bad," said Ali Paracha, owner of a car rental company. "The market has been in need of an overhaul for at least a decade or two."
 The Federal Board of Revenue (FBR) would introduce a modified automated e-filing and procedure system for filing of Sales Tax and Federal Excise (ST&amp
strong>Gold looked likely to extend losses to a fifth straight session on Friday as the dollar rebounded ahead of US non-farm payrolls data later in the session.</strongstrong>FUNDAMENTALS</strong* Spot gold was little changed at $1,276.80 an ounce by 0041 GMT after four days of losses.* The metal has closed lower every session this week despite hitting a 15-month top of $1,303.60 on Monday.* Gold is down 1.3 percent for the week, its biggest weekly drop in six though the direction could change depending on U.S. jobs data later.* The dollar rose to a one-week high against a basket of major currencies on Thursday after sliding to a 15-month low this week as traders closed out profitable bets against the greenback before the U.S. payrolls report.* Investors are eyeing U.S. economic data to gauge the Federal Reserve's outlook on monetary policy.* The Fed raised rates for the first time in a decade in December from near zero but has since stood pat, in part because of global economic uncertainty.* A strong payrolls numbers could prompt the Fed to raise rates sooner than later.* Economists polled by Reuters forecast U.S. employers likely added 202,000 workers in April following a 215,000 increase in March with the jobless rate holding at 5.0 percent.* Gold is sensitive to interest rates and returns on other assets as rising rates lift the opportunity cost of holding non-yielding bullion.* Assets in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.47 percent to 829.44 tonnes on Thursday to the highest in over two years.* Silver demand hit a record high last year as increased buying by the coin and bar, jewellery and photovoltaic sectors offset weakness in industrial demand, a Silver Institute report showed on Thursday.* Soaring silver prices are changing the market's 2016 landscape as bargain-hunting coin buyers step to the sidelines, and futures and options participants take the reins, said Erica Rannestad, a senior analyst at GFMS.
 The inefficiency of the city administration has exposed again as a group of fresh milk sellers has illegally raised the rates of fresh milk by Rs5per liter, selling it at Rs85per litre in some localities.</strongMajority of citizens are compelled to buy this fresh milk because the rate of tetra packed fresh milk is very high which needs urgent rationalization.In fact the sellers of tetra packed, fresh milk have made a monopoly due to weak and non-working anti-monopoly laws in Karachi and sheer disregard to consumer rights in city administration circles.The consumers demand a steep cut in the price of tetra packed fresh milk and equalizing it with the unpacked fresh milk being sold at local milk shops.This long awaited step would not only provide some relief to consumers frustrate the bullying of dairy farmers and retail milk sellers but also increase the profit of the sellers of tetra packed milk in shape of increased sales.The government needs to break the hegemony of tetra packed milk sellers and rationalize the prices of their commodities in the larger public interest.
strong>Global business growth picked up a little speed in April as near stagnation in manufacturing was offset by accelerating services activity, a survey showed on Friday.</strongJPMorgan's Global All-Industry Output Index, produced with Markit, nudged up to 51.6 in April from March's 51.5. It has been above the 50 mark that divides growth from contraction since late 2012."The April PMI surveys suggest that global economic growth maintained its subdued start to 2016," said David Hensley, a director at JPMorgan.A PMI covering services rose to 51.9 from 51.5, but a sister survey published on Tuesday showed global manufacturing growth nearly stalled in April.The global PMIs combine survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
 Saudi Arabia�s new energy minister said on Sunday the world�s largest crude exporter was committed to meeting demand for hydrocarbons from its customers and would maintain its petroleum policies."Saudi Arabia will maintain its stable petroleum policies. We remain committed to maintaining our role in international energy markets and strengthening our position as the world�s most reliable supplier of energy," Khalid al-Falih said in an e-mailed statement."We are committed to meeting existing and additional hydrocarbons demand from our expanding global customer base, backed by our current maximum sustainable capacity."Since 2014, Saudi Arabia has led OPEC through a new survival-of-the-fittest strategy aimed at defending market share rather than reducing production to support oil prices.Falih�s comments on Sunday support analysts� views that no shift in Saudi oil policy is likely as a result of his appointment.Falih�s appointment was part of a bigger Saudi shake-up announced on Saturday as King Salman restructered some big ministries in a major reshuffle intended to support a wide-ranging economic reform programme.As part of the restructuring, the Petroleum Ministry has been renamed the Ministry of Energy, Industry and Mineral Resources."The creation of a new Ministry in Saudi Arabia that brings together the Kingdom�s abundant and unrivalled energy and mineral resources and industrial capabilities is in line with the ambitious objectives of Saudi Vision 2030," Falih said. 
 Governor Sindh Dr. Ishrat-ul-Ebad Khan has said exporters of various goods have played a vital role in economy of Pakistan and due to their efforts valuable addition is witnessed in national exchequer every year.This he said while talking to a 9-members delegation of Rice Exporters Association of Pakistan (REAP) at Governor House here on Monday.Principal Secretary to Governor Muhammad Hussain Syed was also present on the occasion.Dr. Ebad said that agriculture was the back-bone of Pakistan�s economy as majority population is engaged with this sector.Cotton, rice, sugarcane, mango, citrus fruits and other crops have a pivotal contribution in Gross Domestic Product (GDP) of the country as they employ millions of people, he observed.Governor Sindh said that rice is an important part of exports of Pakistan and basmati rice of Pakistan is renowned for its quality and taste worldwide.<br/> It also counts for sizeable amount of foreign exchange, he opined.On pointing of dormant state of Rice Research Institute (RRI), Dokri district, Larkana, Governor Sindh assured that all concerned would be called soon to know the reasons behind its ineffectiveness.The RRI has a very important role in producing new varieties of rice which are not only cost effective but also have visible consumption due to their quality, he added.On complaint of harassment from market committees, Governor Sindh asked Principal Secretary to examine the matter and resolve the same in consultation of all stake holders.He said that after improvement of law and order situation in Karachi, business community was engaged in their economic activities without any fear.Exporters would be provided all possible help and assistance to continue their exports, he assured.Governor Sindh commended the idea of holding a Biryani Festival and said that it would help in increasing rice exports.The Chief Patron of �REAP Abdul Rahim Janoo informed Governor Sindh that the Association has 1600 members from which 850 belong to Sindh.Pakistani rice is exported to 117 countries of the world including China, he said and added that Punjab produces Basmati while Sindh has Irri rice in abundance.He lauded the efforts of Governor Sindh in maintaining law &amp; order in Sindh and providing every possible facilities to business community.The delegation members included Senior Vice Chairman REAP Nauman Ahmed Shaikh, members managing Committee Javed Jilani, Inder Lal, Hamid Qureshi, Latif Paracha, Wajid Paracha, Rauf Aziz and Secretary Altaf Hussain.�
 Spot gold edged lower on Monday, but remained supported in the face of a firm dollar as investors bet a weaker US payroll report would push out the timing of any rate hike.</strongThe US economy added the fewest number of jobs in seven months in April and Americans dropped out of the labour force, leaving some economists anticipating only one interest rate hike this year. But encouraging annual wage growth data helped the dollar to revive."Gold held on to a lot of the gains despite the strengthening dollar - it seems to be well supported," said analyst Daniel Hynes at ANZ in Sydney."Investors certainly saw the payroll numbers being a positive in terms of no rate hike in the shorter term, which lessened the blow of that stronger currency," he added.Spot gold eased 0.2 percent to $1,286.11 an ounce by 0145 GMT, after hitting a five-month high last week, and is consolidating within a $1,268-$1,303 trading band. Spot gold closed little changed last week after a 5 percent jump the week before.US gold slipped half a percent to $1,288.20.Helping the dollar rebound, New York Federal Reserve President William Dudley said two U.S. rate hikes this year were still a "reasonable expectation."A stronger dollar erodes the purchasing power of buyers paying with other currencies."We still expect the price of gold to rise further, underpinned by demand for inflation hedges as inflationary pressures continue to build," said Capital Economics in a research note.Elsewhere, a run of Chinese data this week is expected to show activity moderated in April after a strong showing in March. A Reuters poll forecast a small drop in all-important exports last month.Hedge funds and money managers raised their net long positions in COMEX gold and copper contracts in the week to May 3, U.S. Commodity Futures Trading Commission data showed on Friday.China's gold reserves stood at 58.14 million fine troy ounces at the end of April, up from 57.79 million fine troy ounces at the end of March, the central bank said.
 Pakistan aim at increasing exports to India to one billion dollars within a year as made�up textiles products and readymade garments have great potential to make their way to Indian markets.This was said by Minister for Commerce Engr Khurram Dastagir Khan while chairing a meeting with Pakistani counterparts of Pak-India Business Council here on Tuesday.The delegation was headed by Mr Yawar Ali Shah, who briefed the minister on their recent visit to India and outcome of the meetings held with Indian business and trade stakeholders.The minister was of the view that due to land route Pakistan is the most favorite and cost�effective market for India in terms of importing raw material for their agriculture and textile products.He was of the view that trade concessions to India cannot be offered unilaterally. India also need to extend access to Pakistani products with preferential duty regime, the minister added.The minister also informed the delegation that the ministry has restructured National Tariff Commission (NTC) in line with the legal framework guided by the Supreme Court of Pakistan.Earlier, the delegation was of the view that Indian food manufactures are looking for different Pakistani agriculture products, like Mango and Kinno in specific seasons.Also they added Pakistan agriculture products, like green peas, can be exported to India as they run freezing plants at far less capacity of 200,000 tons.The business interlocutors were of the view that trade with both countries should cooperate in promoting SME, Agriculture, Tourism, Culture, Research sectors Basmati Rice, branding issue and exchange of business groups� visits.Later, a delegation of Pakistan Commercial Exporters Association called on Minister for Commerce with an agenda to boost exports in Gems and Jewelry products.Assuring full support to the business group, the minister said government shall move further ahead in increasing exports and soliciting resources until exports fraternity come forward and take initiatives and mobilize their resources.
 Higher food and fuel prices probably nudged India's annual inflation up to 5.0 percent in April from 4.83 percent in March, according to a Reuter�s poll, making it harder for the central bank to follow up last month's interest rate cut too swiftly.</strongThe consumer price data INCPIY=ECI is due to be released at 1200 GMT on Thursday."The central bank has to be confident of hitting the 5 percent target next year before deciding on easing further," said Rishi Shah, economist at Deloitte.Shah expects inflation to rise to 5.20 percent in April, though the median forecast from the survey of 27 economists was 5.0 percent.Last month, Reserve Bank of India Governor Raghuram Rajan cut the policy repo rate by 25 basis points to 6.50 percent, the lowest since 2011.A recent Reuters poll predicted only one more interest rate cut in 2016, most likely toward the end of the year."Unless inflation really surprises on the downside, we don't see much happening and the focus should be on liquidity rather than interest rates for now," said Abhishek Upadhyay, economist at ICICI Securities.Above-average monsoon rains are expected this year and should spur rural demand as two-thirds of India's population depends on farming for its livelihood."The monsoons will play an important part in determining growth by giving a boost to rural demand in the industrial sector, as we believe that a more sustained increase in investments is still some time away," Shah said.The latest poll also showed industrial output INIP=ECI grew 2.5 percent in March, faster than 2.0 percent the month before.That quickening in pace is mostly due to a surge in infrastructure output, which accounts for over one-third of the wider industrial measure and hit a 16-month high in March.
 Pakistan must speed up reform of the energy sector and bring more women into the labour force if it wants to quicken economic growth that lags far behind regional peers, the World Bank's country representative said on Monday.</strongThe World Bank expects Pakistan's economy to expand by 4.5 percent in 2016, missing the government's 5.5 percent target and trailing behind other South Asian nations where growth is expected to average about 7 percent this year.The bank sees 2017 growth edging up to 4.8 percent in Pakistan, a nation of 190 million people. Experts say the economy needs to expand by at least 6 percent a year to absorb new entrants to the work force.Illango Patchamuthu, the World Bank country director, said Pakistan had benefited from a collapse in global oil prices and tough fiscal measures by the government over the past few years to stabilise the economy.But he urged faster reform in the energy sector, which has suffered decades of under-investment. Businesses say frequent power outages hurt growth and investment."To me, the whole story around power reforms is still only half done," Patchamuthu told Reuters in an interview.He said Pakistan must tackle its so-called circular debt problem, which stems from unpaid government subsidies that build up until power plant owners cannot afford fuel. It stands at about $3 billion.The government expects its electricity rationing system of "load-shedding" to end by 2018 after it signed more than $30 billion in energy generation projects as part of the $46 billion China-Pakistan Economic Project.But efforts to privatise a host of electricity distribution companies have stalled, as have other reforms.Patchamuthu said the government has been focused on power generation, but it must also seek to improve distribution and upgrade ancient transmission systems."A lot more needs to be done in the next several years to build up the whole power infrastructure," he said.Patchamuthu said another way for Pakistan to significantly boost growth is reforming its male-dominated labour market, where women account for only 22 percent of the workforce."If Pakistan wants to get to 7-8 percent (growth) with structural reforms, they also have to much more in drawing women into the labour force," he said."There are social and cultural challenges," Patchamuthu said. "But if the women are skilled and they are given the right opportunities � the economy is only going to bloom and blossom."
 Oil prices were steady on Tuesday as brimming inventories and a looming refined products glut offset supply disruptions in Canada and elsewhere that have taken more than 2 million barrels a day of production out of the market.</strongInternational Brent crude futures LCOc1 were trading at $43.70 per barrel at 0315 GMT, up 7 cents from their last settlement.U.S. crude futures CLc1 were trading at $43.34 per barrel, down 10 cents.Canadian officials who got their first glimpse of the oil sands town of Fort McMurray since a wildfire erupted and knocked out over 1 million barrels of daily crude production said almost 90 percent of its buildings were saved.Despite the improving conditions, producers expect shutdowns of several weeks as facilities like pipelines that were close to the fires need to be inspected, while evacuees need to leave production plants before staff can return.Outages in Canada and around the world now amount to more than 2 million barrels of lost daily output since the beginning of the year, virtually erasing a glut that emerged in 2014 and pulled down prices by as much as 70 percent before a recovery started earlier this year.Goldman Sachs said it expected a decline in U.S. oil production by 650,000 bpd this year.BMI Research said that production in Asia was also falling: "We anticipate combined crude oil production in the region's largest producers, namely China, India, Malaysia and Indonesia, to fall by 4.9 percent in 2016 (equivalent to 331,500 bpd) as low oil prices and upstream spending cuts weigh on overall output."Adding Canada's disruptions to declines in Latin America and Africa, overall output has likely fallen by over 2 million bpd this year.Yet traders said they were re-focusing on brimming U.S. inventories, which are expected to hit records despite the disruptions from Canada, which exports most of its crude to the United States.U.S. commercial crude stockpiles likely rose last week for the fifth straight week, a Reuters poll showed, with total U.S. crude inventories seen to have built by 500,000 barrels to a record high above 543 million barrels.Some traders said a $40-$50 per barrel price range may reflect a balanced market with plentiful stocks.However, with plenty of crude available, refiners have produced large volumes of gasoline and diesel, threatening to overwhelm demand despite the coming U.S. summer driving season.If that happens, refiners will lower their output and cut orders for new crude feedstock, putting downward pressure on prices.
 British employers� spending on temporary workers rose at the fastest pace in more than a year last month, as nerves around the upcoming European Union referendum dissuaded them from taking on permanent staff, a </strong><strong>survey showed on Tuesday.</strongThe Recruitment and Employment Confederation�s monthly report added to evidence that British companies are delaying investment plans in the run-up to the June 23 vote on Brexit.Recruitment companies reported heightened uncertainty among their clients, in part because of the referendum, and also said a big rise in the minimum wage increased the cost of temporary staff, the Recruitment and Employment Confederation said."Employers are turning to temps and contractors to provide a flexible resource, and also as a way of hedging any possible to change to the UK�s relationship with Europe," REC chief executive Kevin Green said.Spending on temporary workers hired via recruitment agencies increased at the fastest pace since March 2015, while permanent staff hires rose at the weakest pace since September.Pay for temporary staff increased at the strongest rate since July 2007, which recruitment firms linked to the<br/>introduction of a new minimum wage for those aged 25 and over.But pay growth for permanent staff eased to a three-month low. The Bank of England - which sets out its latest economic<br/>outlook on Thursday - is keeping a close eye on earnings growth, as it assesses the risk of inflation overshooting its target<br/>after falling to a record low last year. However, last month it said it would be less sensitive than usual to changes in economic data around the time of the Brexit<br/>vote, which opinion poll suggest will be a close run. 
 Finance Minister and Senator Muhammad Ishaq Dar reached Dubai Wednesday morning and joined Pakistan delegation for ongoing talks with the IMF team for the 11th Review under the Extended Fund Facility (EFF).Finance Minister has had three rounds of talks completed successfully with IMF team according to a statement of the Ministry of Finance.The 4th round of talks are expected to start shortly.Finance Minister, leading the Pakistan delegation, has had four rounds of talks successfully completed and 5th round was underway by Wednesday evening with talks progressing positively.The talks are likely to conclude by Thursday evening.The current review, it may be added, was the second last of a total of 12 reviews under the 36-month programme, supported by an EFF arrangement, approved in 2013.
 India�s gold imports could hit a record high this year amid widespread smuggling to sidestep government levies on overseas shipments, Australia and New Zealand Bank, Asia�s biggest shipper of physical gold, said on Wednesday.</strongThe forecast by the bank�s head of precious metals, John Levin, runs counter to tallies that show gold imports in decline in the world�s second-biggest gold market after China.Levin said he expects 15 percent of India�s gold this year to be "smuggled in" or arrive via "other unofficial channels" to beat a 10 percent levy imposed by the government.Levin also said more semi-refined gold, known as gold dore, was being imported from overseas mining companies because of a lower government levy.The import duty on gold dore is 8.5 percent."You could see a record amount of gold going into India this year," Levin said, "A lot through unofficial channels and a lot of it going in as semi-refined gold."However, industry officials say unofficial imports are also coming down as Indian market prices trade at a discount to the U.S. dollar spot price.As recently as a few weeks ago, Indian importers were offering discounts as high as $40 per ounce, or nearly 3 percent of the value to attract buyers.This has been discouraging smugglers as their margins have been squeezed, Daman Prakash Rathod, a director at MNC Bullion, a wholesaler in the southern Indian city of Chennai, said on Wednesday.Officially, India�s gold imports in the 2015/16 fiscal year that ended on March 31 dropped 16 percent from a year ago to 926 tonnes.ANZ last year handled about 15 percent of the world�s gold shipments, according to Levin.
 The world is getting an object lesson on the problems of having one dominant global currency and even the supposed prime beneficiary, the United States, can see the downside.</strongAlarming bouts of volatility in world financial markets over the past 12 months have been rooted in a fear of what happens when a world with its highest-ever peacetime debt pile faces even a hint of higher interest rates.Despite a constant narrative about U.S. households and banks paying down debts ever since the global credit crash eight years ago, any 'deleveraging' that did happen was more than offset by higher government, corporate and personal debt around the globe in Europe, China and across emerging markets.In fact, aggregate world debt is now far higher than it was before the 2007-08 crash."The saga of debt is far from over," says a report from Morgan Stanley. It goes on to explain why Morgan Stanley expects demographic-led shifts in savings and investment to soon push interest rates higher and transform that debt mountain into additional deadweight on world growth over next five years.But the role of the U.S. dollar as the world's main reserve currency denominating large chunks of that debt pile is showing up as complicating factor that's added to risk of instability.The first U.S. interest rate increase in almost a decade in December - just a quarter of a percentage point - was enough to trigger a convulsion in world markets that led to the worst start to a year for global stocks since World War Two.Underlining 'cause and effect', the subsequent recovery only came about once the Federal Reserve hastily made clear it was pressing the pause button precisely because of seismic events in world finance.Few doubt a growing U.S. economy that's near full employment can absorb some normalization of interest rates from near zero, and a higher dollar goes hand in hand with that.But the rest of the world clearly can't.The Bank for International Settlements estimates that while U.S. dollar dominance means it accounts for almost 90 percent of all foreign exchange transactions and some 60 percent of hard currency reserves. But crucially it also accounts for about 60 percent of all debts and assets outside the United States.And if the rest of the world goes into shock because of the higher cost of servicing and paying back those dollar debts, the boomerang effect on U.S. exporters, commodity firms and the wider economy just ends up tying the Fed's hands in ways made crystal clear this year already.strong>AMBIVALENCE</strongNo surprise, then, the U.S. central bank has no deep love for the dollar's prime reserve currency status - even though it's been described by Europeans and others over the years as an "exorbitant privilege" that ensures the world lends to the U.S. Treasury in its own currency at low interest rates regardless of dollar strength.Speaking at an event in Zurich on Tuesday on the dollar's global status, New York Fed chief Bill Dudley said Americans should not be perturbed if other currencies such as the euro or China's yuan eventually eat into the dollar's share of reserves."If other countries' currencies emerge to gain stature as reserve currencies, it is not obvious to me that the United States loses," he said, as long as it "is being driven by their progress, rather than by the U.S. doing a poorer job."While that's far from wishing away dollar hegemony, it speaks to the greater ambivalence among central bankers toward reserve status than their national treasury chiefs - given how widespread use of the currency can compromise domestic policy.It's that tension that risks sowing instability everywhere.If the Fed can't adjust monetary policy because of fears of transmitting a self-defeating shockwave around the world via the dollar, then there's understandable concern that artificially low Fed policy just stores up even more debt and international accounting imbalances and undermines the very currency that's supposed to play anchor.At the same event in Zurich, Claudio Borio, head of the monetary and economic Department of the BIS, said the dollar's role could potentially exacerbate instability by allowing the United States to run larger and more persistent fiscal and current account deficits - and to run looser monetary policy for longer.What's more, a resulting Fed easing bias spreads to developed and emerging economies as governments resist a weaker dollar for competitiveness or financial stability reasons, Borio added."Easing begets easing," he said.For Morgan Stanley, this is just leads to ever-higher debt, and there are no painless ways out of a problem that will start to hurt significantly over the coming years - only a series of "less painful" options including the option of consolidating debts and making them permanent or perpetual.In the meantime, the U.S. bank said, the dollar itself will most likely push higher again, if only because the U.S. economy is probably the only one that can absorb a rising exchange rate in this environment.For Borio, a more 'pluralistic' system with many world currencies sharing the reserve role doesn't by itself solve any problem, either. There would then be no credible single anchor.Hard-headed cooperation and joint decision making may be the only answer."This means not just putting one's house in order, but also putting our global village in order."
 Brent jumped 4 percent on Tuesday while US crude settled up more than 2 percent, after a late burst of buying driven in part by expectations that record US crude inventories would not swell by as much as they have in recent weeks.</strongCrude supply outages in Canada, Nigeria and elsewhere also boosted prices. Brent's gain was its biggest one-day percentage move in a month.The market pared gains briefly in post-settlement trade after the American Petroleum Institute (API), an industry group, said U.S. crude inventories rose by 3.45 million barrels to record highs of 543.1 million during the week ended May 6.Analysts polled by Reuters had expected a build of only 714,000-barrels.Traders and investors will be looking out for official inventory data on Wednesday from the U.S. Energy Information Administration (EIA)."We should roll back a good part of today's gains if the EIA confirms the builds cited by API or comes up with even larger numbers," said Tariq Zahir, crude trader and managing partner at Tyche Capital Advisors in New York.Brent LCOc1 settled up $1.89, or 4.3 percent, at $45.52 per barrel. More than 6,000 contracts changed hands in the final minute, Reuters data showed. The global oil benchmark rose to as high as $45.70 in post-settlement trading. After settlement, it briefly dipped more than 30 cents on the API data, then recovered to near its settlement price.U.S. crude's West Texas Intermediate (WTI) futures CLc1 rose 1.22, or 2.8 percent, to settle at $44.66. WTI also fell briefly on the API data.Refined oil products joined the rally, with gasoline RBc1 closing up 3 percent and ultralow sulphur diesel HOc1, or heating oil, 4 percent.Oil prices were up most of the day on worries about supply outages.Wildfires in Canada have shut in more than 1 million barrels per day of production from Alberta's oil sands region. Royal Dutch Shell Plc was the first to resume production in the area on Tuesday while others looked to restart after more than a week of halted operations.In Nigeria, attacks on oil infrastructure have pushed crude output close to a 22-year low in Africa's largest oil producer, Reuters data showed.This year's rebound in oil has been one of the strongest since the financial crisis. Prices have rallied nearly 80 percent from multiyear lows under $30 in the first quarter, supported by falling U.S. production, supply constraints in Libya and the Americas and a weak dollar.Since the end of April, the rally has stalled at around $45.
 Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.</strongRussia, which has been hit hard by the oil price collapse, was flirting with the idea of cooperating with OPEC in recent months until tensions between OPEC members Saudi Arabia and Iran ruined a global deal to freeze output.Sechin - one of the closest allies of President Vladimir Putin - was the only Russian official to consistently oppose the deal with OPEC even after the Kremlin effectively endorsed the plan.Now that his gloomy predictions about talking to OPEC have come to pass, Sechin feels vindicated and wants to help Russia avoid similar embarrassment in future."At the moment a number of objective factors exclude the possibility for any cartels to dictate their will to the market. ... As for OPEC, it has practically stopped existing as a united organization.""The company (Rosneft) was skeptical from the very beginning about the possibility of reaching any sort of joint agreement with OPEC's involvement in current conditions," said Sechin, in comments over the weekend which were embargoed until Tuesday."Just to remind you, the only one question with which we responded to those who were interested to know our position: 'Who should we agree with, and how?' The development of the situation has clearly shown we were right."Sechin's comments about the end of the era when OPEC could influence prices chime with those of Saudi Arabia's newly appointed energy minister Khaled al-Falih.Falih, who took over on Saturday from long-serving Ali al-Naimi, has been very vocal in the past year about his views that the oil market needs to rebalance through low prices and that the Saudis have the resources to wait.Falih's ultimate boss, Deputy Crown Prince Mohammed bin Salman, who oversees Saudi oil policies, has also signaled that the world is moving to a new era where supply and demand rather than OPEC will determine prices.Sechin, who was born in 1960 - the same year as Falih - is also calling on Russia to abandon any hope that prices can be fixed by anything other than market rebalancing."At the moment, key factors which are influencing the market are finance, technology and regulation. We can see this with the example of shale oil which ... became a powerful tool of influence on the global market," Sechin said in the emailed comments.
 The International Monetary Fund said on Thursday that it had reviewed Pakistan�s economic performance and would make available a further $510 million to the country as part of a three-year, $6.7 billion financial assistance programme.</strongThe money will be provided when the review is approved by the IMF�s management and executive board, the Fund said in a statement, describing its discussions with Pakistan as "productive" and adding that performance criteria in the programme had been met.Pakistan�s gross domestic product growth is projected at 4.5 percent in the 2015/16 fiscal year and 4.7 percent in the following year, the IMF said.
 Oil prices fell early on Thursday, weighed by the gradual return of Canadian oil sands production, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories.</strongInternational Brent crude futures were trading at $47.13 per barrel at 0143 GMT on Thursday, down 47 cents, or 1 percent, from their last settlement. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 38 cents or 0.8 percent at $45.85.Traders said the dips were largely a result of profit taking following intra-day Brent price rises of up to $2.95 the previous day."A lot of people think that yesterday's jump was a bit over the top, so they've taken the profit while they could this morning," said one oil trader.The U.S. Energy Information Administration (EIA) said on Wednesday that U.S. crude inventories fell 3.4 million barrels to 540 million barrels last week, compared with analysts' expectations for an increase of 714,000 barrels and the American Petroleum Institute's (API) reported build of 3.5 million barrels in preliminary data issued on Tuesday.The surprise draw in crude inventories was offset on Thursday by an expected increase in Canadian oil sand crude production following disruptions to over 1 million barrels of daily production capacity due to wildfire."We were not totally surprised with the draw after the shut-in in Canadian production," said Tariq Zahir, managing partner at Tyche Capital Advisors in New York.
 India announced a new intellectual property policy on Friday, speeding up the online registration of patents and trademarks, but resisted pressure from the United States and other Western countries to amend its patent laws.</strongThe policy will make the Department of Industrial Promotion and Policy the agency in charge of regulating intellectual property rights in the country.Since Prime Minister Narendra Modi took office in 2014, global drug brands led by U.S. companies have been pushing for changes to India's intellectual property rules.India's strained patent and intellectual property administration has failed to keep pace with growing technological advances. Global pharmaceuticals players have often complained about India's price controls and marketing restrictions."We hope it will lead to an interpretation of the Indian Patent Act that respects innovation, encourages research and facilitates effective enforcement mechanisms," said Ranjana Smetacek, Director General, Organisation of Pharmaceutical Producers of India, a body of multinational drugmakers in India.Nirmala Sitharaman, commerce and industry minister, told lawmakers last month that over 237,000 applications were pending in India's four patent offices.The policy aims to spread awareness among public about trademarks, copyrights and patents to promote innovation within the country, Finance Minister Arun Jaitley told reporters.The new policy will try to safeguard the interests of rights owners with the wider public interest, while combating infringements of intellectual property rights.Jaitley said India would retain the right to issue so-called compulsory licenses to its drug firms, under "emergency" conditions, and would not immediately need to change patent laws that were already fully World Trade Organization-compliant."Compulsory licences are already provided in our patent law. That existing provision will continue," Jaitley said after the cabinet approved national IPR policy on Thursday evening.Last month, the U.S. Trade Representative kept India, China and Russia on its "Priority Watch List" for inadequate improvement in IPR protection. (1.usa.gov/1SKEPgl)India, however, says, it is party to the Trade-Related Aspects of Intellectual Property Rights (TRIPS), a WTO agreement that sets minimum standards for intellectual property regulation."It (IPR policy) reiterates India's commitment to the Doha Development Agenda and the TRIPS agreement," a government statement said.
 China�s Commerce Ministry said on Friday it had asked for the World Trade Organisation�s dispute resolution mechanism to be activated over a subsidy case bought against it by the United States.The U.S. complaint, which dates back to at least 2012, covers Chinese-made products that include solar panels, steel sinks, kitchen shelving and citric acid.The Commerce Ministry said the United States had ignored WTO rules and seriously harmed the interests of Chinese companies, so it had decided to ask for the dispute resolution mechanism of the trade body to be activated.�
 Making violins is a passion in Cremona, the ancient Italian town that has been producing them since the 16th century, but turning passion into profits has not been easy.</strongCremona, in northern Italy, has more than 100 workshops making violins and other stringed instruments for musicians worldwide, following in the tradition of its great violin-makers which have included Antonio Stradivari and Nicol� Amati.Many of the town's "liutaia" specialize exclusively in master instruments in the tradition of Stradivari, each taking months to produce and costing around 20,000 Euros each. Some liutaia make as few as six or seven violins a year.Edgar Russ, an Austrian who came to Cremona in 1984, says it is tough to make a living by crafting only master instruments and that the town's violin-makers need to change."At the end of the day, you work for free," he says.Russ offers various levels of craftsmanship, a model he says does not sit well with Cremona's traditionalists. But he believes it is a way of prospering and ensuring it remains a thriving center of violin-making in the long-term.His workshop makes violins for beginners as well as his "Linea Macchi" line for professionals who cannot afford a master violin. He also makes a handful of master instruments each year.Only the masters are made by his hands alone."The real energy comes from the passion for this kind of work. It makes me happy to create something which does not have any straight lines. Even if you don't play, you love to hold it in your hand. It's beautiful to look at; it shows all your personality and your ability and your craftsmanship."And it makes a beautiful sound."
 It's a bird, it's a plane, and it�s a ... financial planner? The next time your kid brings home a comic book, it might not be just about battles, explosions and good versus evil. Instead, it might be about evaluating wants versus needs, living within your means and creating emergency funds.</strongThat is because financial services company Visa Inc has partnered with Marvel Comics to create "Rocket's Powerful Plan," a new comic book starring the superhero team Guardians of the Galaxy. The comic is slated to be sent to every public library in the United States, and there are more than 150,000 copies printed in eight languages.The theme: why it makes sense to cultivate money smarts."The challenge was to create a fun, action-packed story while also including a lesson on personal finance," said Darren Sanchez, an editor at Marvel. "Trying to squeeze educational information into a story can be tough, especially with a topic like money management. To make it work you have to be careful not to overwhelm the story."After all, as any parent knows, children listen to very little of what you have to say, especially when it comes to money. When it is the Guardians of the Galaxy who are talking (Rocket, Groot, Star-Lord, Gamora, and Drax the Destroyer), they are more likely to actually pay attention.So who is the Suze Orman of the superhero world, dispensing personal finance advice while defeating powerful foes at the same time? Turns out it is Rocket, an intelligent raccoon, who is voiced by Bradley Cooper in the recent big-screen film.When the squad receives a fee for exterminating robopests, Rocket suggests putting some of that money aside for an emergency fund. That cash later comes in handy when the group has to repair their spaceship, and purchase high-tech weapons to vanquish their enemies. (Sorry about the spoilers.)The comic is the second such venture by Visa. The original, produced in 2012, featured the Avengers and Spider-Man tossing off money advice. It proved to be so popular with educators that more than half a million copies were eventually printed.This time, in addition to the Guardians of the Galaxy, look for cameos by Ant-Man, Iron Man, Thor, Black Widow and Hulk. It was produced in languages including English, Spanish, Mandarin, Japanese and Malay."We wanted simple messages that kids could latch on to and take out of it, like saving for a rainy day," said Hugh Norton, Visa's head of financial education. "Issues like emergency savings are extremely important, and something we can drill into kids from an early age."On the back of the comic book, kids will find interactive games like word searches, where they can try to locate terms like "budget," "currency" and "goal," for example.There is also a wants-versus-needs challenge. Should you spend money on necessities like "water" and "a place to live," or luxuries like "video games" and "candy"? (On second thought, kids, do not answer that.)Judging from a recent survey, it seems like parents could indeed use all the help they can get in explaining money topics to kids.ALMOST AS 'BAD' AS DEATH AND SEXIn the annual "Parents, Kids &amp; Money" survey by Baltimore-based money managers T. Rowe Price Group Inc, more than half of parents admitted they were "somewhat," "very" or "extremely" reluctant to talk about financial issues with their children. The only subjects they were more reluctant to talk about? Death and sex.And 44 percent have not talked to their kids at all about financial subjects including long-term investing, market volatility, or financial statements.That is where a money-oriented comic book like "Rocket's Powerful Plan" could come in handy. In the past Visa has tried out other innovative avenues to reach out to kids, as well, such as sponsoring financial literacy-themed National Football League games.Marvel has put its deep bench of superheroes to work on other custom projects, as well, including for Netflix Inc, Walt Disney Co's Disney Interactive, ESPN and the Make-A-Wish Foundation.Even superheroes are not immune from the financial challenges of parenthood, by the way. In Visa and Marvel's new comic, when Ant-Man gets a cut of the fee from the Guardians of the Galaxy for helping eliminate their enemies, what does that cash go toward?Purchasing a drum set for his daughter.
strong>Gold edged higher on Friday after losing more than 1 percent in the prior session, but was on track for its biggest weekly decline since March as a firmer U.S. dollar cut the metal's draw.</strongFUNDAMENTALS*Spot gold was up 0.2 percent at $1,265.61 an ounce by 0116 GMT, after dropping 1.1 percent on Thursday. It has lost 1.8 percent so far for the week, the most since the week ended March 25.* U.S. gold for June delivery GCcv1 slipped 0.3 percent to $1,267.40 an ounce.* The dollar was up for a fourth week in five against a basket of major currencies, making dollar-denominated assets such as gold more costly for holders of other currencies.* The greenback got a boost overnight after Boston Federal Reserve President Eric Rosengren said the Fed should raise interest rates if data confirms a stronger jobs market and inflation outlook in the second quarter.* But gold has gained more than 19 percent in 2016 as a run of soft economic data in the United States and around the world allayed expectations that the Federal Reserve would press ahead with interest rate hikes in the near term. The U.S. policymakers meet next in June.* Underlining optimism towards bullion, holdings of SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, stood at 27.17 million ounces on Thursday, the highest since November 2013.
strong>Apple Inc said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the critical Chinese market.</strongThe investment comes as Apple is trying to reinvigorate sales in China, its second-largest market. Apple recently has<br/>come under pressure from Chinese regulators, with its online book and film services shut down last month, and Cook is<br/>traveling to the country this month.The investment gives Apple, which has hired dozens of automotive experts over the past year, a sizeable stake in Uber<br/>Technologies Inc�s chief rival in China.Cook said in an interview that he sees opportunities for Apple and Didi Chuxing to collaborate in the future. "We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments<br/>of the China market," he said."Of course, we believe it will deliver a strong return for our invested capital over time as well. "Didi Chuxing, formerly known as Didi Kuaidi, said in a statement that the funding from Apple was the single largest investment it has ever received.The company, which previously raised several billion dollars, dominates the ride-sharing market in China. The company said it completes more than 11 million rides a day, with more than 87 percent of the market for private car-hailing in China.Investors are eagerly watching to see whether Apple will enter the automotive business. Apple has hired a wide range of automotive experts, and the company is exploring building a self-driving car, sources have told Reuters.Cook said Apple remains focused on the in-car experience with its CarPlay system that links smartphones to vehicle infotainment systems.�That is what we do today in the car business, so we will have to see what the future holds," he said.Although Apple's sales in China have slumped amid slowing economic growth there, Cook stressed he remains confident in the market.The deal "reflects our excitement about their growing business ... and also our continued confidence in the long term in China�s economy," Cook said.
 Panama City's main airport said on Friday it had successfully placed a $575 million bond after a company forming a major source of income for the hub became embroiled in a money-laundering probe, prompting the issue to be restructured.</strongOriginally earmarked for $625 million, the bond for Tocumen International Airport was pared back after the U.S. Treasury Department accused members of the Waked family of running a money laundering operation that helped drug traffickers.The Wakeds, who have denied the accusations, control Grupo Wisa, a holding company that includes real estate, construction and media businesses, as well as retailers including operators of duty free shops at Tocumen International.The airport said that last year, rents from Grupo Wisa made up 7.7 percent of its revenue.The coupon on the bond, which is due to mature in 2036, was raised to 5.625 percent from 5.375 percent.The U.S. Treasury's Office of Foreign Assets Control (OFAC) alleged that the operation, led by two members of the Waked family, helped various drug trafficking outfits hide their illicit income via 68 companies including Grupo Wisa.Separately on Friday, the U.S. Treasury said it had issued licenses authorizing certain transactions to be carried out by Balboa Bank &amp; Trust, which was seized by Panama's banking regulator as part of the money-laundering investigation.In the statement, the U.S. Treasury Department said it had also issued licenses to Balboa Securities, Corp. It did not give details on why the licenses had been issued.
� The Federal Reserve Bank of New York is standing by its procedures for wiring funds after facing scrutiny in the wake of the $81 million cyber heist at the Bangladesh central bank, a letter released by a congresswoman on</strong><br/><strong>Friday showed.</strong> The New York Fed was responding to criticism lobbed by U.S. Representative Carolyn Maloney, who had called for a probe of the fund transfers triggered by the February cyber attack on Bangladesh Bank.Criminals tried to withdraw $951 million from Bangladesh Bank�s U.S. bank account in what ranked as one of the largest cyber heists in history.They succeeded in transferring $81 million. In the April 14 letter Thomas Baxter, general counsel and executive vice president at the New York Fed, said the correct procedures were followed in approving five transfers of money on<br/>Feb.4 and in blocking 30.Baxter said the New York Fed�s procedures for checking transfers included catching those to people subject to sanctions<br/>but would not stop a transfer if it had passed the authentication process on the SWIFT messaging network."The vast majority of authenticated instructions received from foreign official account holders are not flagged for manual review by the automated systems," Baxter wrote in the letter.Authorities in Bangladesh and elsewhere are still trying to figure out how hackers carried out the attack and what happened to the money, which was routed from the Bangladesh Bank�s account at the New York Fed to accounts in the Philippines.Maloney said in a statement on Friday that while Baxter�s letter provided key information about the incident, she remained<br/>"concerned that there are critical security gaps in the international payment system."Maloney said she would urge the New York Fed to review its security protocols to make sure such a heist does not recur.
 India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday.</strong"The Indian government is seeking to pay the $6.5 billion debt and is looking to prepare the banking activities. The receiving bank for this money will be Turkey's Halkbank, and the money will be paid in euros," Fars quoted Saurabh Kumar as saying.Halkbank officials were not immediately available for comment.India is one of the biggest customers of Iranian crude, and is set to import at least 400,000 barrels per day (bpd) from Iran in the year from April 1, but built up a backlog of payments when Iran was under sanctions.Since most international sanctions on Iran were lifted in January, India has reached an agreement to send payments to Iran via European banks, India's oil minister told Reuters last week.Although most restrictions on Iran have been lifted, the United States maintains some sanctions and a trade embargo. This means banks cannot use the dollar for any deals with Iran, while U.S. banks are barred from doing business outright.While the U.S. embargo does not in theory prevent non-U.S. banks from dealing with Iran, in reality many remain hesitant to do so because they faced hefty fines in the past and are wary of the U.S. sanctions that remain in place.
 India's wholesale prices unexpectedly rose for the first time in 18 months, posting an annual gain of 0.34 percent, driven up by higher costs for food and manufactured items, government data showed on Monday.</strongThe data compared with a 0.20 percent annual decline forecast by economists in a Reuters poll. In March, prices fell a provisional 0.85 percent.Wholesale food prices last month rose 4.23 percent year-on-year, compared with a provisional 3.73 percent gain in March. Prices of manufactured goods increased 0.71 percent year on year in April.Fuel prices dropped 4.83 percent from a year earlier in April, slower than a provisional 8.30 percent fall a month ago.
 Finance ministers from the world's largest developed economies met in Germany a year ago against a backdrop of faltering global growth, scant inflationary pressures and the latest chapter in the Greek debt crisis.</strongWhen they and their G7 central bank colleagues convene again in Japan on Friday the first two items remain just as problematic as and potentially even trickier than a year ago. Only unusually smooth talks between Athens and its lenders may keep Greece off the agenda this time around.The hosts' monetary and fiscal policy trajectory appears obvious: the Bank of Japan is coming under increasing pressure to counter a damaging rise in the value of the yen that could derail a fragile recovery for the world's third-largest economy.Talk of more action gathered pace after an academic seen to be close to Governor Haruhiko Kuroda said the BOJ is likely to expand monetary stimulus either in June or July. The government has also said Tokyo is ready to intervene in currency markets.Whether explicitly on the agenda or not, such interventions are certain to be brought up by counterparts from France, Italy, Germany, Britain, Canada and the United States either side of a planned field trip to see how the northeastern Japanese city of Sendai has recovered from the devastating 2011 earthquake.On Monday, Japanese Prime Minister Shinzo Abe beat the drum for a broader fiscal stimulus, saying most G7 leaders agreed it was necessary as a means of boosting global demand, though getting all of them to enact the same policy steps would be tough.First-quarter Japanese economic output data on Wednesday - following on from more signs of slowing growth in China - should flesh out the downbeat picture with quarterly gross domestic product (GDP) forecast to have expanded just 0.1 percent, according to a Reuters poll."The Bank of Japan has been heavily criticized for its decision not to take further economic stimulus measures at its meeting in April," said Commerzbank economist Bernd Weidensteiner."Because of its refusal to bow to the market expectations of 'more and more', the central bank currently faces a tough task to convince the markets of its policy actions."FED PUZZLEThings are not so straightforward for the U.S. Federal Reserve, which is caught in a bind over when to push interest rates higher amid concerns about the health of the labor market at home and fears about the knock-on effects its actions will have abroad.�There was fresh hesitation among economists ahead of the release in the coming week of the minutes from the April 26/27 Fed meeting when the central bank's rate-setting committee acknowledged that economic growth seemed to have slowed.The Fed will likely wait until September before raising rates again, a Reuters poll found this week, stretching to nine months the time since its first hike in nearly a decade as it waits for clear signs inflation is picking up.April's U.S. inflation figures arrive on Tuesday, a day before the euro zone give an update on its battle to register any kind of price growth and the same day Britain releases its consumer price data for last month.British price growth is expected to have slowed after a pick up in March while jobless numbers on Wednesday may also show a dip in hiring in the first quarter as employers turn cautious ahead of June's Brexit vote. Retail sales are due on Thursday.Latest polling on the EU membership referendum will be just as closely watched to see if the Bank of England's warning that Brexit would slow the economy sharply, and could even push it into recession, has had any impact on voters."Signs of a slowing economy and uncertainty around Britain's EU referendum appear to have resulted in a shift in emphasis from permanent to temporary hiring among UK employers," Markit economist Oliver Kolodseike said. "The labor market may therefore be set to cool further in coming months."The other big Q1 GDP releases come from Russia and Mexico while interest rate decisions include South Africa.
 Oil prices edged up in early trading on Monday as output falls in Nigeria and worries about political instability in Venezuela tightened the market, although rising OPEC output and a stronger dollar capped gains.</strongInternational Brent crude futures LCOc1 were trading at $48.11 per barrel at 0148 GMT, up 28 cents, or 0.6 percent, from their last settlement.U.S. West Texas Intermediate crude futures CLc1 were up 25 cents, or 0.5 percent, at $46.46 a barrel.Analysts said that falling supplies from producers such as Nigeria, the Americas and China had pushed up prices, although they added that increases elsewhere were capping gains."Oil struggled to hold gains from the previous day as the return of output from Canadian producers negated (production)losses," said ANZ bank.In Nigeria, oil major Exxon Mobil suspended exports from the country's biggest crude stream, Qua Iboe, and other producers like Royal Dutch Shell and Chevron have also suffered disruptions following acts of sabotage, cutting output to its lowest in decades of around 1.65 million barrels per day.In the Americas, major oil exporter Venezuela seemed to be on the brink of political and economic meltdown, triggering fears of default by its national oil company PDVSA, which has to make almost $5 billion in bond payments this year.Venezuela's oil production has already fallen by at least 188,000 bpd since the start of the year as PDVSA struggles to make the necessary investment to keep output steady.Adding to these disruptions were the United States, where crude production C-OUT-T-EIA has fallen to 8.8 million bpd, 8.4 percent below 2015 peaks as the sector suffers a wave of debt-fuelled bankruptcies.In China, Asia's biggest oil producer and consumer, output fell 5.6 percent to 4.04 million bpd in April, compared with the same time last year.Yet countering these disruptions was rising supply from the Organization of the Petroleum Exporting Countries (OPEC) following the lifting of sanctions against Iran which triggered a race for market share between Tehran and OPEC-rivals like Saudi Arabia, Iraq, the United Arab Emirates and Kuwait.OPEC pumped 32.44 million bpd in April, up 188,000 bpd from March. This is the highest since at least 2008, according to a Reuters review of past OPEC reports.Also weighing on markets was recovering output in Canada following forced closures due to a wildfire, as well as a 3 percent rise in the dollar this month against other leading currencies. �A firmer dollar makes dollar-traded fuel imports more expensive for countries using other currencies, potentially weighing on demand.
Norway's sovereign wealth fund, the world's largest, said on Sunday it plans to join the class-action lawsuits filed against Volkswagen AG (VOWG_p.DE) over the German automaker's emissions scandal."Norges Bank Investment Management intends to join a legal action against Volkswagen arising out of that the company provided incorrect emissions data," Marthe Skaar, the fund's spokeswoman, said in a statement emailed to Reuters."We have been advised by our lawyers that the company's conduct gives rise to legal claims under German law. As an investor, it is our responsibility to safeguard the fund's holding in Volkswagen," Skaar added.The legal action would take place in Germany, a separate fund spokesman told Reuters, declining to give details as to when it would happen.The Financial Times on Sunday first reported the sovereign fund's plan to sue Volkswagen.The $850 billion oil fund is expected in the coming weeks to join the class-action lawsuits filed against Volkswagen in German courts in the coming weeks, the newspaper said.Volkswagen, which admitted last year that it had used sophisticated secret software in its cars to cheat exhaust emissions tests, was unavailable for comment outside regular business hours.Norway's wealth fund said last year that Volkswagen's actions had contributed to a loss of 4.9 billion crowns in the fund's second quarter.The carmaker reached a nearly $10 billion deal with the U.S. government last month to buy back or fix about a half million of its diesel cars and set up environmental and consumer compensation funds.Norway's wealth fund also recently turned up the heat on U.S. oil companies Exxon Mobil and Chevron to do more to report on the risks of climate change.The fund, itself built from Norway's oil and gas wealth, had also made similar demands of oil firms worldwide.
 Speaker National Assembly Sardar Ayaz Sadiq has said that Pakistan was keen to forge strong bilateral relations with Portugal.He underlined the need for regular exchange of Parliamentary delegations to facilitate comprehensive bilateral engagements. He was speaking to Portuguese Charge de Affairs Mr Joao Paulo Marques Sabido Costa, who called on him here at Parliament House on Tuesday.While talking to him, the Speaker underlined the need for bilateral cooperation to explore the untapped opportunities and expand the scope of relations.The Speaker outlined that Pakistan was keen to collaborate with Sothern Europe in trade and economic affairs and deemed Portugal as a gateway to enhance cooperation and exchange of expertise in the field of Science and Information Technology.Speaker Sardar Ayaz Sadiq said that Portuguese expertise in energy generation through renewable energy resources could help Pakistan easing its energy crisis.The Speaker also emphasized on the need to promote tourism in both countries as people to people contacts were highly significant in cementing inter-state relations.Portugal Charge de Affairs Mr Joao Paulo Marques Sabido Costa highly endorsed Sardar Ayaz Sadiq� s proposal for expansion of trade and economic relations and added that relations with Pakistan in energy, tourism and education may form the basis for future cooperation Exchange of Parliamentary delegations and business groups could create further avenues for cooperation, he added.
 Pakistani stocks edged higher in volatile trade on Tuesday, led by a rise in global oil prices, dealers said.</strongThe benchmark 100-share index of the Pakistan Stock Exchange closed up 0.03 percent, or 11.75 points, at 36,137.12.The index went up as much as 265 points intraday led by oil stocks as international oil prices hit a six-month high, said Hammad Aman, manager, equity sales at Topline Securities Pvt Ltd.Oil traded at around $49 a barrel on Tuesday, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut.Pakistan Petroleum Ltd gained 1.57 percent, while Pakistan Oilfields Ltd rose 0.38 percent.The rupee ended at 104.66/104.72 against the dollar, compared with Monday�s close of 104.69/104.74Overnight rates in the money market were steady at 6.20 percent from the previous session. ($1 = 104.6500 Pakistani rupees)
 Gold prices edged up on Tuesday, but the safe-haven metal's gains were limited by a firmer dollar and as Asian shares recovered from two-month lows.</strongstrong>FUNDAMENTALS</strong* Spot gold XAU= rose 0.25 percent to $1,276.70 per ounce at 0041 GMT.* U.S. gold futures GCcv1 rose 0.32 percent to $1,278.30.* The dollar firmed on Tuesday as a recovery in crude prices lifted equities and U.S. Treasury yields, and lessened demand for the safe-haven yen.* Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street.* MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked up 0.1 percent, extending the recovery from its two month low set on Friday. Japan's Nikkei .N225 gained about 1.0 percent.* Gold has rallied 20 percent this year on speculation that the U.S. Federal Reserve has slowed its expected pace of rate increases on concerns over the volatility in global markets.* New York-based hedge fund Paulson &amp; Co, led by John Paulson, one of the world's most influential gold investors, slashed his bets on bullion, while billionaire investor George Soros and other big funds returned to the metal for the first time in years, filings showed on Monday.* The platinum market deficit is expected to rise to 861,000 ounces this year, Johnson Matthey said on Monday, as demand from autocatalyst manufacturers is boosted by the implementation of new Euro 6 legislation.* The palladium market may need up to three years to consume its opaque above-ground stocks, according to Russia's Norilsk Nickel (GMKN.MM), the world's largest producer of the metal chiefly used in emission-curbing autocatalysts.* The Fed should consider raising rates at its June meeting, Richmond Fed President Jeffrey Lacker told the Washington Post in an interview published on Monday, saying inflation was moving towards two percent and labour markets had tightened.* China will push forward supply-side reform and increase the number of middle-income earners, state television quoted President Xi Jinping as saying on Monday, after economic data for April fuelled doubts about the economy's health.strong>MARKET NEWS</strong* Oil prices hit six-month highs on Monday on worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures limited gains.
 Crude oil futures held near six-month highs in early Asian trading as the market focused on supply disruptions that prompted long-time bear Goldman Sachs to issue a bullish assessment on near-term prices.</strongCrude futures have rallied for most of the past two weeks from a combination of Nigerian, Venezuelan and other outages, declining U.S. production and virtually frozen inflows of Canadian crude after wildfires in Alberta's oil sands region.U.S. crude's West Texas Intermediate (WTI) futures were up 8 cents at $47.80 a barrel at 0047 GMT. They rose by $1.51, or 3.3 percent, to end at $47.72 after touching a six-month high on Monday.Brent crude futures were down 5 cents at $48.92 a barrel after rising slightly following the opening of trade. The contract settled up $1.14, or 2.4 percent, at $48.97 per barrel on Monday, having risen above $49 earlier in the session."The increasing intensity in supply-side disruptions in the oil market should see prices well supported in the short term," ANZ said in a research note.The supply disruptions triggered a U-turn in the outlook for the oil market from Goldman Sachs, which had long warned of global storage hitting capacity and of another oil price crash to as low as $20 per barrel.A further bullish note was sounded by the U.S. Energy Information Administration (EIA) on Monday, when it said shale oil output is expected to drop in June for the eighth consecutive month.Shale output is expected to fall by nearly 113,000 bpd to 4.85 million bpd, as the nearly two-year slump in prices continues to undermine profitability at drillers, according to the EIA's drilling productivity report released on Monday.
 As noon-time temperatures began soaring in late March, Mohamed Nizam, a small-scale chicken seller, knew he was headed for trouble.</strongSoon the mid-day heat was touching 40 degrees Celsius, and Nizam told his workers to pour water on to the pavement in front of his shop in the Colombo suburb of Wattala in an effort to ward off the heat."But nothing can keep that kind of heat from getting to the chickens. It roasts them alive," Nizam said.Across Sri Lanka, small- and medium-scale chicken producers � often with between 1,000 and 25,000 birds � are struggling to keep their birds alive in the face of temperatures 2 degrees to 5 degrees Celsius above normal over the last two months.Many of the birds live in tightly packed pens, where the heat makes them dehydrated. Larger industrial operations use fans and spray water on them, but smaller operations cannot afford such investments.�Usually when the heat is high, we use ice or water to keep the pens cool. This time they were no match for the heat. I lost half of my stock,� said Rumi Jamaldean, who runs a farm with around 8,000 birds in the Kurunegala District, about 120 kilometres from Colombo.strong>RISING PRICES</strongThe losses have translated into big hikes in chicken prices. In Colombo and its suburbs a kilo of fresh chicken was selling for 620 rupees (around $5.50) during the first week of May. Two months earlier it was Rs 450 and a year ago Rs 400.�My sales have dropped,� Nizam said, estimating they had fallen by 40 percent. �People can�t afford it. The prices are way too much,� he said.With chicken by far the most popular meat in this largely Buddhist nation that shuns many other types of meat, the price hike is likely to have an impact on nutrition. On average a Sri Lankan eats seven times as much chicken per year as beef, according to the Department of Animal Production and Health.The nation�s poultry industry produces about 165,000 metric tons of meat a year, according to the Department of Animal Production and Health.Sri Lankan chicken farmers have long experience with warm months and often use homegrown methods to keep their birds cool, including ice, water, fans or sometimes feeding the birds sodium-bicarbonate, which growers say can help prevent dehydration.But �this time the heat was too much and nothing could have prevented such losses�, said Nimal Jayaratne, head of the Department of Animal Production and Health.According to the Meteorological Department, during the fourth week of April the Northern Vavuniya District recorded an average daily temperature of 37 degrees Celsius. During the same time period, rain fall was below average.�It has been extremely warm, warmer than any other time in the past five years,� said Lal Chandrapala, director general of the Meteorological Department.Experts and farmers agree that Sri Lanka�s small-scale chicken farmers are not ready to deal with such extreme heat.�If you look at the pens, they are just brick sheds with corrugated tin sheets on the roof. During times when the weather is okay, they can work. But when the heat comes, there is hardly any room for ventilation and there is no money to invest to save the stock,� Jayaratne said.Chicken farmer Jamaldean said he will absorb the losses as much as he can, pass some portion of it to his customers, and just wait until the heat passes, with cooler monsoon weather due late this month or in early June.But �chicken prices will not come down soon. It will take at least two months,� warned Nizam.
 Oil prices were trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on markets.</strongInternational Brent crude futures LCOc1 were trading at $49.31 per barrel at 0047 GMT, 3 cents above their last settlement, while U.S. West Texas Intermediate crude futures CLc1 were unchanged at $48.31 a barrel.Both contracts remained near their 2016 highs of $49.75 and $48.76 per barrel, respectively, hit during intra-day trading the previous day."With oil continuing to suffer from supply disruptions... EIA inventory data will be key to price action. Any further decline in stockpiles could see oil's run higher continue," ANZ bank said.The U.S. Energy Information Administration (EIA) is scheduled to release official storage data later on Wednesday."With wildfires shifting back towards oil sands operations, the risk of supply disruptions extending into June has increased substantially. Combined with further falls in exports from Nigeria, the physical market is particularly tight," ANZ added.The oil industry is also keeping an eye on Venezuela, where economic and political turmoil is threatening oil production."Supply outages, when set alongside concerns over Venezuelan supply (due to insufficient funds to pay oil companies or spend on the maintenance of loading terminals), represents a significant amount of oil lost in the short-term, which in turn is reflected in firm time spreads at the front of the curve," BNP Paribas said.Despite the disruptions, BNP Paribas said that there was still a large storage overhang that would have to be reduced before the market could swing back into balance.The bank even said that global crude inventories were still edging up despite the supply disruptions, implying that there is still more oil being produced than consumed.
 The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices.</strongLate last month, Deputy Crown Prince Mohammed bin Salman announced steps to reduce the kingdom's dependence on oil exports over the next 15 years, including subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment.The IMF had for years been urging Saudi Arabia to adopt many of those measures, and in a statement on Thursday it said the reform plan aimed for "an appropriately bold and far-reaching transformation of the Saudi Arabian economy"."The supporting policies that will be announced in the coming months are expected to set out how these goals will be achieved," IMF official Tim Callen said after leading a team to Saudi Arabia this month for annual consultations with the Fund."To ensure their success, the reforms will need to be properly prioritized and sequenced, and the appropriate pace of implementation carefully assessed."Riyadh has been cutting spending and trying to raise fresh revenues as it grapples with its budget deficit, which totaled $98 billion in 2015. The IMF predicted the deficit would stay very large this year, at about 14 percent of gross domestic product compared to 16 percent last year.But it welcomed the government's spending controls and changes to domestic energy prices announced last December, saying: "Fiscal policy is appropriately adjusting to the drop in oil prices." The economy is expected to grow 1.2 percent this year, slowing from 3.5 percent in 2015, the Fund said.strong>DEFICIT FINANCING</strongThe IMF also said it approved of the way in which the government was financing its deficit with a combination of drawing down its financial reserves and issuing debt at home and abroad.The Fund has been encouraging some North African states to make their foreign exchange rates more flexible to cope with big current account deficits. But it took the opposite tack toward the external deficit which Saudi Arabia is running because of cheap oil, saying the riyal's peg to the U.S. dollar was continuing to serve the economy well.Market interest rates in Saudi Arabia have been rising sharply as the government borrows from banks to finance its deficit, with the three-month Saudi interbank offered rate SASAR3MD= jumping 135 basis points since mid-2015 to a multi-year high of 2.13 percent.But the IMF said the Saudi banking sector was strong and well-positioned to weather a slowing economy, and that tightening liquidity was not yet hurting credit growth.Two cornerstones of the Saudi reform plan are the sale of a stake of up to 5 percent in national oil giant Saudi Aramco, which could fetch tens of billions of dollars, and a build-up of the government's Public Investment Fund into a global investment vehicle.The IMF urged Riyadh to make both institutions more transparent and to integrate them into a new fiscal policy apparatus which the government is creating to make spending decisions more efficient.
 Prices of many foodstuffs such as pulses, sugar, vegetables and poultry products are set to surge in India in the next three months on thin supplies, which could fuel inflation and give the central bank little room to cut rates, said analysts.</strongApril consumer price inflation broke a recent slowing trend after food inflation came in at 6.32 percent, compared with 5.21 percent in March. Food prices are a political hot potato in India, where more than a quarter of their populations of 1.2 billion people live on a mere 74 cents or less per day.India is struggling with the first back-to-back drought in nearly three decades, which has ravaged crops, but expected good rains in the June-September monsoon season may boost production and food supplies later in the year.Indian farmers usually start sowing summer crops from June onwards and harvesting starts in October."Good monsoon rainfall can lead to higher production, but new crops will be available for consumption only after few months," said Harish Galipelli, head of commodities and currencies at Inditrade Derivatives and Commodities."Until we get the new crop, prices will remain elevated due to limited supplies."Already the price of chickpea, the most consumed pulse in India, has risen over a quarter in a year, while sugar prices jumped 35 percent. Potato prices have doubled.Prices are likely to rise further as demand grows in coming months due to festivals like Ramadan, said Ashwini Bansod, a senior analyst at Phillip Commodities India Pvt Ltd.Rising prices could make it difficult for Reserve Bank of India Governor Raghuram Rajan to again cut interest rates.A fall in inflation to within targeted levels earlier this year allowed Rajan in April to cut rates to a more than five-year low."With core inflation also sticky, headline inflation is therefore likely to stay at 5 percent or higher which makes it difficult for further rate cuts by the RBI," said Abhishek Upadhyay, economist at ICICI Securities Primary Dealership Ltd.Despite higher prices, farmers have been unable to cultivate vegetables due to higher temperatures and water scarcity.Water levels in the country's 91 major reservoirs have depleted to 19 percent of capacity as of May 12, compared to 31 percent a year ago.Many state governments like the western state of Maharashtra have cut water supplies for agriculture and reserved it for drinking purpose."Every year in summer I cultivate vegetables. This year I couldn't cultivate as government did not release water in canals," said Mangesh Ghadge, a farmers from Maharashtra.
 The "Oppenheimer Blue", a large and rare diamond, sold for 56.837 million Swiss francs ($57.6 million) at auction on Wednesday, setting a world record for any gem after a dramatic see-saw bidding process, Christie's in Geneva said.</strong"It's the most expensive jewel ever sold at auction," Christie's spokeswoman Alexandra Kindermann told Reuters.The previous record was held by the "Blue Moon Diamond", sold at rival Sotheby's for $48.6 million last November. The new Hong Kong owner renamed that stone the "Blue Moon Josephine".The Oppenheimer, the largest fancy vivid blue diamond ever offered at auction, is a rectangular diamond weighing 14.62 carats that previously belonged to Sir Philip Oppenheimer, who controlled the Diamond Syndicate in London. It had a pre-sale estimate of $38 million-$45 million.The packed Geneva saleroom broke into applause as Rahul Kadakia, Christie's International Head of Jewellery, brought down the hammer after two phone bidders ended a 20-minute battle. The buyer's identity was not immediately known.Bidding opened at 30 million Swiss francs for the blue diamond, the top lot at the half-yearly sale, and amid the long pauses between telephone bids, Kadakia quipped: "These stones come along once in a lifetime. We have to wait.""As head of the London-based Central Selling Organisation for 45 years and serving as Chairman for the Diamond Trading Company branch, Sir Philip oversaw a diamond sales cartel set up by De Beers to keep strict control over the diamond supply worldwide," the Christie's catalogue said."Oriental Sunrise", a pair of orange-yellow diamond drop earrings sold for 11.36 million Swiss francs ($11.52 million), a spokeswoman said.At Sotheby's (BID.N) on Tuesday, a rare pear-shaped vivid pink diamond fetched 30.8 million Swiss francs, purchased by a private Asian collector.Christie's sale netted a total of 146.8 million Swiss francs ($148.69 million), falling short of Sotheby's $175.2 million."Two days of highly successful auctions that momentarily made us forget about a quiet market with their good results, even very good," Eric Valdieu, a Geneva-based jewelry dealer formerly with Christie's, told Reuters."Geneva auctions have reached new heights in total value, it's unheard of," he added.Christie's is owned by French retail magnate Francois Pinault's holding company Artemis SA.($1 = 0.9873 Swiss francs)
 Asian stocks fell and the US dollar stood tall on Thursday as markets scrambled to factor in the possibility of another interest rate increase by the Federal Reserve as early as June. Gold stumbled.</strongMSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8 percent in early trade as the prospect of a second U.S. rate hike in six months raised concerns for emerging markets already grappling with a slowing China.South Korea and Australia led regional markets lower with 0.5 and 0.6 percent falls each as investors refocused their attention on the growing differences between the health of the world's biggest economy and its global counterparts."In the short term, emerging markets are the most vulnerable," Steven Englander, global head of G10 FX strategy at Citibank wrote in a note to clients."Overall, the divergence trade is revived until further notice," he wrote in a note to clients, saying the Canadian dollar and the Aussie were vulnerable due to concerns around those economies.Japan's Nikkei rose early thanks to a weaker yen, which fell to a three-week low against the dollar after minutes of the last Fed meeting suggested a rate increase is firmly on the table at its policy review next month. But the Nikkei later pared its gains to just 0.2 percent.The Fed minutes noted Fed officials said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment.Such views helped revive the prospect of a rate hike in June, which had been dismissed by many investors.CME fed fund futures showed that the probability of a June rate increase by the Fed rose to 34 percent after the release of the FOMC minutes on Wednesday from 19 percent earlier in the day, 15 percent on Tuesday, and less than 1.0 percent a month ago, according to CME group's FedWatch.Still, many in the market are still skeptical the Fed would raise rates ahead of Britain's June 23 referendum on whether to remain in the European Union, a risk that was pointed out by some Fed policymakers. July may be a stronger possibility.The dollar index hovered just below a seven-week high of 95.27 scaled overnight, boosted by sharply higher U.S. Treasury yields.The benchmark 10-year Treasury note yield jumped more than 10 basis points on Wednesday while the yield curve steepened slightly, breaking a multi-month streak of flattening.The greenback was steady at a three-week high of 110.25 against the yen hit overnight. The euro was pinned down near $1.1214, its lowest since late March."With April activity indicators consistent with a healthy bounce-back in growth, we see risks of two rate hikes in 2016, with the first coming in the June/July time horizon," strategists at Barclays said.Fed Vice Chairs William Dudley and Stanley Fischer are due to speak later in the day and the markets will be eager to get more details on the Fed's thinking.Gold took the renewed expectations of a U.S. rate hike on the chin. Prices for the precious metal are inversely correlated to monetary policy easing, fell 0.1 percent to a three-week low $1256 per ounce.The stronger dollar also weighed on commodities such as oil, which saw U.S. crude futures CLc1 lose 0.4 percent to $48.00 a barrel. A stronger dollar tends to put non-U.S. buyers of greenback-denominated commodities at a disadvantage.Three-month copper on the London Metal Exchange CMCU3 fell to as low as $4563.50 overnight, the weakest since Feb. 19 and was hovering near those levels.
 When Apple Inc CEO Tim Cook meets Indian Prime Minister Narendra Modi this weekend as part of an Asian tour aimed at boosting sales, he will sit down with a man whose penchant for a selfie - often using his gold iPhone - can get him into trouble.</strongModi breached electoral rules when he photographed himself holding his party's symbol of a lotus flower immediately after casting his vote in the 2014 general election, one of the many selfies he regularly takes with his Apple phone.Cook meets the 65-year old prime minister in New Delhi on Saturday, and will be hoping Modi's enthusiasm for phones can help Apple as it tries to bolster sales in India.While smartphone usage is surging as the middle class swells, most Indians still can't afford Apple's iPhones and the company has only about 2 percent market share in a country where 100 million phones were sold last year.Apart from snapping the usual selfie, Modi is likely to tell Cook that if Apple wants to sell more phones in India, it should make them there, and help the prime minister realize his ambition of turning the country into a manufacturing powerhouse.Cook will also have to remember not to come between Modi and his love of the limelight: on a trip to Silicon Valley in September Modi appeared to shove Facebook boss Mark Zuckerberg aside so that the cameras could capture him fully.Cook and Modi's meeting will cap an unusually long trip to India that has seen the Apple boss pray at an elephant-god temple in Mumbai, watch cricket and dine with Bollywood stars.
 Gold edged higher on Friday after two days of losses but remained on track for its biggest weekly slide in nearly two months on growing expectations of an increase in U.S. interest rates as soon as next month.</strongThe dollar retreated from its highest in nearly two months against a currency basket but was heading for a third week of gains, keeping up pressure on gold.Spot gold was up 0.2 percent at $1,256.70 an ounce at 0906 GMT, while U.S. gold futures for June delivery gained $2.90 to $1,257.70. Spot prices are down 1.5 percent this week and facing a third straight week of losses."From the point of view that the dollar has strengthened it makes sense that precious metals pare back some of the recent gains," Saxo Bank analyst Ole Hansen said."We, however, managed to find support at $1,245, a key reversal level on gold. Negative yields and the prospect of higher inflation will continue to provide support."New York Fed President William Dudley said on Thursday that there was a strong sense among central bank officials that markets were underestimating the probability of policy tightening.That came a day after the minutes of the Fed's April meeting revealed that most policymakers felt a rate increase might be appropriate as early as next month.Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding bullion. The metal has rallied 18 percent this year as investors bet the Fed would hold off on further increases."The gold environment now is substantially different from what was apparent several weeks ago, when a weaker dollar and a benign rate environment were providing an element of support," INTL FCStone said in a report. "This is no longer the case."Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Shares, rose by 4.5 tonnes on Thursday to their highest since November 2013.Gold demand in Asia was subdued this week by a strengthening dollar and weak seasonal demand in major trading centres.In other precious metals, Silver rose 0.6 percent to $16.57, while platinum was up 0.9 percent at $1,016.49 and palladium gained 1.2 percent to $561.22.Palladium was the biggest faller of the week, down 4.7 percent. A deepening deficit in the palladium market this year was predicted by industry experts gathered for Platinum Week in London.
 India will on Monday sign a commercial contract with Iran to build and run a strategic port on Iran's southern coast, the Indian government said on Friday, to help it gain a foothold in Iran and win access to central Asia and Afghanistan.</strongTalks to build the Chabahar port have been on for years but since the scaling back of Western sanctions against Iran, India has pushed hard for the project so it doesn't lose out to other such as China, who are keen to invest.The deal under which India will develop two terminals and cargo berths at Chabahar, on the Gulf of Oman, will be signed during a visit by Prime Minister Narendra Modi to Iran beginning on Sunday.Gopal Baglay, a foreign ministry official in charge of Iranian ties, said India would make an initial investment of more than $200 million in the port, of which India's Exim Bank would provide a credit line of $150 million."The focus of the trip is connectivity and infrastructure," he told reporters.India is blocked from land access to Afghanistan and through it to the central Asia countries because of opposition from Pakistan, which sees India's expansive diplomacy in the region as a threat.Baglay said India, Afghanistan and Iran would separately sign an agreement to set up a trade and transport corridor during Modi's trip that will have Chabahar as the hub.Road and rail links are to be built so that landlocked Afghanistan can get access to the Iranian port as an alternate to the Pakistani port of Karachi."The trilateral agreement will be a game changer for regional connectivity especially for Afghanistan which can find an assured and reliable alternate access to India via sea," Baglay said.Chabahar is about 100 km (60 miles) from Pakistan's Gwadar seaport which China is developing as part of a $46 billion China-Pakistan Economic Corridor.The Chinese project, coming on top of investments in Sri Lanka, Bangladesh and the Maldives raised disquiet in India about China's expanding reach in the region and prompted faster movement on the Iranian project."A major flaw in India's current policy towards Iran has been the lack of implementation of signed agreements," said Meena Singh Roy, an expert on India's ties with Iran at the Institute for Defence Studies and Analyses.
 A rift on fiscal policy and currencies is likely to set the stage for G7 advanced economies to agree on a "go-your-own-way" response to address risks hindering global economic growth at their finance leaders' gathering on Friday.</strongAs years of aggressive money printing stretch the limits of monetary policy, the G7 policy response to anemic inflation and subdued growth has become increasingly splintered.Finance leaders gathering in Sendai, northeast Japan, sought advice from prominent academics, including Nobel Prize-winning economist Robert Shiller, on ways to boost growth in an informal symposium ahead of an official G7 meeting on Friday.Participants of the symposium agreed that instead of relying on short-term fiscal stimulus or monetary policy, structural reforms combined with appropriate investment are solutions to achieving sustainable growth, a G7 source said.If so, that would dash Japan's hopes to garner an agreement on the need for coordinated fiscal action to spur global demand.Germany showed no signs of responding to calls from Japan and the United States to boost fiscal stimulus, instead warning of the dangers of excessive monetary loosening."There is high nervousness in financial markets" fostered by huge government debt and excess liquidity around the globe, German Finance Minister Wolfgang Schaeuble said on Thursday.But G7 officials have signaled that they would not object if Japan were to call for stronger action using monetary, fiscal tools and structural reforms - catered to each country's individual needs.That means the G7 finance leaders, while fretting about risks to outlook, may be unable to agree on concrete steps to bolster stagnant global growth."I expect there to be a frank exchange of views on how to achieve price stability and growth using monetary, fiscal and structural policies reflecting each country's needs," Bank of Japan Governor Haruhiko Kuroda told reporters on Thursday.strong>BREXIT HIGH ON AGENDA</strongThe risk of a British vote to exit the European Union in a June referendum, or Brexit, will be high on the agenda at Friday's G7 session on the global economy."A Brexit could, in the short-term, lead to turbulence in financial markets," the G7 source said.In second-day talks on Saturday, the G7 finance leaders will discuss, among other topics, the need to boost cyber-security.While policymakers have long spoken about the need to enhance cyber-security as financial transactions become increasingly global, there is a growing awareness among G7 leaders that they need to take prompt action, sources familiar with the group's discussions say.A cyber theft that hit a Bangladesh central bank account in February has led SWIFT, the global financial network that banks use to transfer billions of dollars every day, to warn that it was aware of a number of cyber incidents where attackers had sent fraudulent messages over its system.
 Oil prices rose in early trading on Friday as turmoil in Nigeria, shale bankruptcies in the United States and crisis in Venezuela all contributed to tightening supplies.</strongDespite this, brimming inventories across the world were preventing supply shortfalls and sharper price spikes, traders said.International Brent crude futures LCOc1 were trading at $49.10 per barrel at 0128 GMT, up 29 cents or 0.59 percent from their last settlement.U.S. West Texas Intermediate crude futures CLc1 was up 39 cents, or 0.81 percent, at $48.55 a barrel.ANZ bank said that unexpected supply disruptions across the world, excluding output falls in the United States, amounted to around 2.5 million barrels of daily production, virtually erasing a production overhang that had pulled down prices by over 70 percent between 2014 and early 2016."The supply disruptions inflicting the oil market continue to ratchet up... As these issues linger, we expect an increasing supply risk premium will price into the market," the bank said.Nigeria's oil production showed further signs of strain on Thursday as intruders blocked access to Exxon Mobil's terminal exporting Qua Iboe, the country's largest crude stream.Libyan output has also been hit by internal conflict.Militant activity in the oil-rich Niger Delta has taken out some 500,000 barrels per day of crude oil production from other companies in Nigeria, pushing oil output in Africa's largest-producing nation to more than 22-year lows.In North America, U.S. crude oil output has fallen 8.79 million barrels per day (bpd), down from a peak of more than 9.6 million bpd last year, as a wave of bankruptcies hits producers.In Canada, production has also been cut as wildfires forced closures of around 1 million barrels in daily production, although output is gradually returning.In South America, output from OPEC-member Venezuela is also stalling as its state-owned oil company PDVSA struggles with a cash squeeze amid a deep political and economic crisis.Venezuelan crude oil output fell to around 2.53 million bpd in the first quarter of 2016 compared with 2.72 million bpd in the same quarter of last year, data from the Organization of the Petroleum Exporting Countries (OPEC) showed.Despite the disruptions oil supplies to customers are not at risk, thanks to ongoing high output in the Middle East and Russia, and because of brimming oil inventories across the world, including the United States and Asia.
 �Apple Inc chief Tim Cook met Indian Prime Minister Narendra Modi on Saturday, concluding a four-day trip to India that could set the stage for Apple�s expansion plans in one of the world�s fastest growing smartphone markets.</strongModi and Cook met for an hour in central Delhi and discussed Apple�s plans for its India business, including the possibility of manufacturing and retailing in the country.Apple is looking to expand its retail presence in India and is pursuing a license to set up its own stores, which could start to open as early as next year.Government officials say India is keen to get Apple to start making products in the country in what would be a boost for Modi�s "Make in India" manufacturing push."Every aspect of business was discussed. Now it�s for Apple to talk about their plans," a close aide of Modi said.Cook�s first official visit to the country comes at a crucial time as Apple looks for new growth markets after posting its first-ever decline in iPhone sales.More than 100 million smartphones were sold in India last year and sales are expected to grow 25 percent this year, but Apple only has about a 2 percent share of the market.The company has been pushing the Indian government to allow it to import refurbished phones in the country, but that application was turned down earlier this month.A second source aware of the meeting said Cook asked Modi to reconsider the company�s plans to import refurbished phones � a strategy seen key for Apple to make affordable iPhones available in a country where most smartphone sell for less than $150.In an interview with NDTV channel on Friday, Cook said Apple plans to import second hand phones and refurbish them at a facility in India.Cook spent most of the week meeting heads of India�s largest companies, including telecom operator Bharti Airtel �and lender ICICI Bank, but also took out time to visit a temple, dine with Bollywood stars and watch cricket.Apple also announced plans to expand a software development centre it recently opened in Hyderebad and launched a program �for local developers working on its iOS platform.Modi and Cook also discussed cyber-security and data encryption, a government statement said.Apple has been at the centre of a debate on the role technology companies play in protecting data that led to a much-publicised dispute between Apple and the FBI over a phone linked to a shooting in San Bernardino, California.
 State Bank of Pakistan cut its key policy rate by 25 basis points to 5.75 percent on Saturday, saying the country was on course to miss its economic growth target for the year.</strongThe bank said economic growth in the fiscal year ending June 2016 was likely to exceed last year�s 4.2 percent but miss the 5.5 percent target.The bank also said the inflation outlook was "low" despite headline inflation nudging up for seven consecutive months.The annual consumer inflation rate rose to 4.17 percent in April from 3.94 percent in March.Economists say Pakistan, a nation of 190 million people, needs to expand by at least 6 percent a year to absorb new entrants to the work force.In a statement, the bank said growth in the service sector and industrial activities would offset poor performance in the agricultural sector.There has also been an uptick in lending. "GDP growth in FY16 is expected to provide the needed sustainability in growth trajectory and the basis for further improvement in FY17," the bank said in a statement.It added that foreign exchange reserves are expected to continue building, while the current account deficit will be at around 1 percent of GDP.Potential headwinds for the economy may come from an increase in global oil prices, the bank said.Pakistan is a net importer of oil.
 Indian refiners have cleared part of the $6.4 billion owed to Iran for crude oil imports in euros through Turkey's Halkbank, three sources privy to the payment said on Saturday.</strongThis is the first payment to Iran by India since the lifting of Western sanctions against the Persian Gulf nation earlier this year and comes just ahead of Prime Minister Narendra Modi's visit beginning on Sunday.State refiner Mangalore Refinery and Petrochemicals Ltd paid $500 million while Indian Oil Corp has settled $250 million through the Union Bank of India, the sources said.The refiners had been holding back 55 percent of the oil payments to Iran after the route to make payments through Halkbank was stopped in 2013, although payment of some of those funds was allowed after an initial temporary deal to lift the sanctions.It is not yet known when the second instalment will be paid, the sources said.India is one of the biggest buyers of Iranian crude, and is set to import at least 400,000 barrels per day (bpd) from Iran in the year from April 1. But it built up a backlog of payments when Iran was under sanctions.Modi is making a first trip to Iran since he took office in 2016, aimed at deepening energy ties. During the visit, India will sign a contract to build and operate the port of Chabahar on the southern Iranian coast that is aimed at boosting connectivity with Afghanistan and central Asia.
 Japan�s extraordinarily easy monetary policy, a source of friction with the United States for pushing the yen�s value down, has had some positive effects on emerging Asian economies, including increased growth and equity prices, International Monetary Fund researchers have found.The IMF findings were released in a paper on Friday, as Group of Seven finance ministers and central bank governors began meeting in Japan, where divergent views on Japan�s monetary policy and currency market interventions were expected to be a hot topic.The paper claims to be the first to model the spillover effects of Japan�s qualitative and quantitative easing program (QQE) on Southeast Asian countries.QQE was launched in 2013 and targets both government bond purchases as well as other assets, such as exchange-traded funds and real estate investment trusts.The program has helped push down the yen from 82 to the dollar in 2012 to 119 to the dollar by August 2015. Japanese equity prices surged and inflation also strengthened during this period.Despite Southeast Asian currencies rising against the yen, they mirrored some of these effects, study authors GiovanniGanelli, and Nour Tawk said. "Our results show that implementation of QQE in Japan, when estimated by a positive shock to Japanese equity prices, consistently caused an increase in equity prices across emerging Asian countries, as well as an appreciation of their currencies," they wrote."Most (Southeast Asian) countries experienced an increase in output and a temporary increase in inflation. Capital inflows surged in many countries."They argue that while most existing research uses interest rate changes as proxies for quantitative easing, this transmission channel is broken in Japan because rates have been at the zero bound for an extended period.Instead, they use stock market surges and increases in the monetary base as proxies for QQE.The researchers said that Japan�s QQE caused a significant increase in equity prices in emerging Asia, with increases in the 2 to 5 percent range for China, Indonesia, Malaysia, Singapore, Thailand, and Indonesia.And while nearly all countries surveyed experienced an appreciation of their currencies versus the yen as a result of QQE, it had a "generally positive" impact on growth in emerging Asian countries, with statistically significant increases in<br/> Indonesia, Malaysia, the Philippines and Thailand.
 Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf�s wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies.</strongSince mid-2015, the United Arab Emirates (UAE), Saudi Arabia, Qatar and other countries in the region have curbed spending on some construction projects and reduced energy subsidies to limit budget deficits caused by cheap oil.Now some governments are also starting to reduce staff at the companies they control, many of them in the energy industry, in order to ensure the firms are not a drain on state finances if oil prices stay low for several years.Abu Dhabi�s National Oil Co (ADNOC), with around 55,000 staff, has cut hundreds of jobs in the last few months and will have reduced its workforce by at least 5,000 by the end of 2016, sources familiar with the matter told Reuters.The reduction will occur across most of its 17 subsidiaries as part of a restructuring following a reshuffle of the firm�s leadership this month, they said.An ADNOC spokesman did not confirm or deny the cuts but said: "In keeping with the entire oil and gas industry, ADNOC is constantly looking at ways to be more efficient and more profitable, particularly in the current market environment."The UAE�s oil and gas recruitment market is set for its most difficult year in over a decade in 2016, a report from recruiters Morgan McKinley said."The oil and gas industry is still feeling the pain, as was to be expected. Overall redundancies have been on the increase," said Trefor Murphy, managing director for the region.Most layoffs at Abu Dhabi state firms are not in response to production cut-backs; the UAE has not reduced its oil output, and says it is proceeding with long-planned oil and gas development projects.Nor do the layoffs mean Abu Dhabi is running out of money.With hundreds of billions of dollars in its sovereign wealth fund, the emirate could draw down its reserves to sustain current levels of spending for decades.But the government wants to minimise the speed of the draw-down as it looks ahead to the possibility of many years of low oil prices.Last year, Abu Dhabi acted ahead of other Gulf States in cutting domestic fuel and electricity subsidies.Now it is applying the same approach to state-linked firms.In Qatar, state-controlled firms such as Qatar Petroleum and Qatar Rail have been laying off staff.State companies in other states such as Saudi Arabia and Oman have been looking at ways to reduce costs but have so far not resorted to major job cuts.strong>CUTS</strongMost cuts at state firms in Abu Dhabi and elsewhere involve foreign staff rather than locals, because governments want to limit unemployment among their citizens.Nevertheless, the job losses are contributing to an economic slowdown in the region.The International Monetary Fund has predicted Abu Dhabi�s gross domestic product growth will fall to 1.7 percent this year from 4.4 percent in 2015.In neighbouring Dubai, where the economy is not directly reliant on oil and state-linked firms are vigorously pushing tourism and real estate projects, growth is forecast to accelerate marginally, to 3.7 percent from 3.6 percent.Companies cutting staff in Abu Dhabi include Abu Dhabi National Energy Co, which has reduced its workforce by a quarter since 2014. It has cut around a third of oil and gas jobs and 55 percent of staff at its headquarters, it said this month after reporting a first-quarter loss.Earlier this year, Abu Dhabi-based Etihad Rail, the federal government-owned entity building a UAE rail network, said it cut 30 percent of its staff in a restructuring.Abu Dhabi Water and Electricity Authority laid off scores of people, mostly expatriates, sources said.Spokespeople for the authority did not return calls seeking comment.National Petroleum Construction Co, owned by Abu Dhabi�s state-owned industrial conglomerate Senaat and one of the largest oilfield contractors in Abu Dhabi, is reviewing its manpower levels, chief executive Aqeel Madhi told Reuters.Construction firm Arabtec, in which Abu Dhabi state fund Aabar Investments is the biggest shareholder, may include job cuts in its cost reduction programme, chairman Mohamed al-Rumaithi said last month, adding: "There�s some fat to be taken out."Some firms are axing expatriates to create jobs for UAE nationals.Medical centre operator Cleveland Clinic, owned by Abu Dhabi state fund Mubadala, is creating over 100 positions for locals, having told some expatriate staff they have to leave by year-end, sources said.Asked to comment, Cleveland said that as part of its efforts to develop local talent, a number of administrative roles would move to UAE citizens in coming months.
 British Prime Minister David Cameron warned voters on Sunday that they would face higher grocery bills if the country decides to leave the European Union at a June 23 referendum, citing a potential drop in the value of sterling.</strongCameron is leading the push to keep Britain inside the European Union ahead of the referendum, the outcome of which will have far-reaching consequences for the country's economy, its role in world trade and its global diplomatic status.His comments mark a shift in campaign tactics by the 'In' side: a push to make explicit the direct link between the macroeconomic risks that have dominated the Brexit debate so far, and their potential impact on Britons' day to day lives."A weaker currency means more expensive imports; that means more expensive food and it drives higher business costs. And we all know where that ends up: higher prices in the shops," Cameron wrote in the Sun on Sunday newspaper.The warning comes from a government analysis of the short-term impact that a British exit would have on voters.He said the average family's weekly food and drink bill would rise by almost 3 percent, or 120 pounds ($174.06) per year, and that clothing and footwear costs would rise by 5 percent, or 100 pounds per year.The 'rival 'Out' campaign disputed the analysis. "The EU pushes up the prices in our supermarkets because of its protectionist policies. That's ok for big business fat cats but it's not good for British families,' said Vote Leave Chief Executive Matthew Elliott.Six out of the last seven polls published in the last week have shown the Remain campaign in the lead, and on Saturday two major bookmakers offered the shortest odds to date on a vote to remain.On Friday Osborne warned, citing the same Treasury analysis, said house prices would fall if Britain left the EU. ($1 = 0.6894 pounds)��
 Trains will run all night at the weekend from August 19 on two lines of the London Underground metro network in what new Mayor Sadiq Khan said on Monday would be a boost to the British capital�s night-time economy.</strongPlans to introduce all-night services on the Tube, as Londoners call the Underground, were one of the main causes of a long-running dispute between management and the RMT rail workers� union that involved several strikes."The Night Tube is absolutely vital to my plans to support and grow London�s night-time economy, creating more jobs and opportunities for all Londoners," Khan, who was elected mayor earlier this month, said in a statement.The RMT said there were still unresolved issues concerning the Tube�s engineers and it urged management to move quickly to reach a settlement with that group of workers that did not leave them disadvantaged on conditions and pensions."All parties have to be clear that Night Tube, a development that RMT supports, cannot be delivered on the cheap," the RMT�s General Secretary Mick Cash said in a statement.The 24-hour weekend services will start on the Central and Victoria lines, with the Piccadilly, Jubilee and Northern lines to follow in the autumn.The statement from Khan�s office said hundreds of thousands of late-night revelers and shift workers would benefit, with journeys cut by an average of 20 minutes and some by more than an hour.The statement said this would support around 2,000 permanent jobs and boost London�s economy by 360 million pounds ($521 million). ($1 = 0.6911 pounds)
 Beauty world Middle East, the largest international trade fair for beauty products, hair, fragrances and well-being in the Middle East, has closed its doors in Dubai at the Dubai International Convention and Exhibition Centre, after three very lively days of business featuring more than 1,500 exhibitors from 60 countries.</strongMore than 30,000 trade visitors made their way to Dubai to see world�s largest spectrum of hair, fragrances, beauty products and wellness. Dr. Saeed Qadir Mangi, Commercial counselor of Pakistan in Dubai also visited the show. The exhibitors appreciated the role of Commercial counselor and the staff in Dubai.21 Pakistani premium exhibitors have showcased their products in the fair Beauty world Dubai. Ten exhibitors participated under the pavilion of Trade Development Authority Government of Pakistan. Trade Development Authority of Pakistan organized a joint pavilion with 10 exhibitors.One of the exhibitors Farman Nawaz said, �We had a very good business on the first day of show. Buyers from Saudi, UAE, India, Jordan, and Nigeria visited our stand &amp; we had very serious meetings &amp; dealings with them.���It�s overall a good exhibition for us, we launched a new product Henna Cone, which we have very good response on, especially buyers from Iran are very interested in it.� said Mr. Sameer another exhibitor.Ghazanfar Jafri, a director sales said that, �It�s out of our expectations, we had a very good response from the buyers from UAE, Oman, Saudia &amp; Kuwait.��Second half of the first day was very good.� said Mr. Haris, a director marketing. We had some serious meetings, specially with buyers from United Arab Emirates.� added Haris.
 The textile exports from the country witnessed negative growth of 7.72 percent during the first ten months of the current fiscal year compared to the corresponding period of last year.</strongThe textile exports during July-April (2015-16) were recorded at $10.395 billion compared to the exports of $11.265 billion during July-April (2014-15), according to the data of Pakistan Bureau of Statistics (PBS).The textile products that contributed in negative growth of textile trade included cotton yarn, exports of which dropped by 32 percent from, $1.590 billion last year to $1.081 billion during the current fiscal year.
 Pakistan plans to sell a 40 percent stake in its stock exchange in coming months, and Turkey's Borsa Istanbul has expressed some initial intent, the head of the bourse said on Monday.</strongThe sale will happen at the end of this year or in early-2017, Pakistan Stock Exchange Managing Director Nadeem Naqvi told an investment conference organized by Renaissance Capital in London.Naqvi said the bourse would launch an official process over the next two weeks to invite expressions of interest from potential investors. It has already reached out to the London, Shanghai, Turkish and Qatar stock exchanges, he added.He said, however, that only Borsa Istanbul had responded so far.The stake sale will be followed up with a listing of a further 20 percent of stock exchange shares in the domestic market, Naqvi added.The privatization of almost 70 state-owned companies is a major element of a $6.7 billion three-year International Monetary Fund (IMF) package that helped Pakistan staves off default in 2013.The deal ends in September and the IMF has continued to release loan installments despite missed targets.
 Oil prices slipped in early Asian trade on Monday on a strong dollar as the odds grow of a June or July rate hike, and signs that global oil supply is� </strong><strong>holding up even as unplanned outages rise to at least a five-year high.</strongU.S. crude futures fell 16 cents to $48.25 a barrel as of 2347 GMT after settling down 41 cents in the previous session. Brent futures were down 7 cents at $48.65 a� barrel after ending the previous session 9 cents down.The dollar index was marginally lower in early trade on Monday after gaining for a third straight week last week. A strong dollar makes greenback-denominated commodities including oil more expensive for holders of other currencies."Market odds of a June rate hike ended the week at around 30 percent, up from 4 percent a week ago. That is a significant repricing," analysts at banking group ANZ said in a market report on Monday."We continue to see June as very much a �live� meeting. "U.S. crude rose 3.3 percent last week, while Brent was up 1.7 percent week, as unplanned supply outages rose to the highest since at least 2011 due to wildfires in Canada and losses in Nigeria, Libya and Venezuela.But global oil supply still outstripped demand by around 1.5 million barrels per day, Russian Energy Minister Alexander Novak said on Friday. Iran plans to increase oil export capacity to 2.2 million barrels by the summer and has no plans to freeze its level of oil production and exports, Deputy Oil Minister Rokneddin Javadi<br/>was quoted on Sunday as saying.Tehran is trying to raise its crude exports to pre-sanctions levels. A meeting of the OPEC exporters� group, including Iran, is scheduled for June 2.
 Venezuela expects to rejoin the global watchdog established to stop trade in conflict diamonds as it seeks to resume diamond exports, its central bank director said on Tuesday.</strong"We are certain we will rejoin this year," Jose Khan told Reuters on the sidelines of an international meeting of the group, known as the Kimberley Process.Khan said Venezuela was a tiny exporter of around 3,000 carats a month until, unable to verify the legitimacy of its diamonds, it stopped issuing export certificates in 2005 and unilaterally removed itself as an active participant in the Kimberley Process in 2008.After its withdrawal, it was not officially allowed to export diamonds, although some smuggling continued in subsequent years, traders told Reuters."We left in 2008 as we were trying to organise all our mining policy, and now we are prepared to join as we changed our law," Khan said.The Kimberley Process seeks to end trade in conflict diamonds, also known as blood diamonds, which it says are used by rebel groups to finance wars against legitimate governments.Ahmed Bin Sulayem, Kimberley's chair for 2016, has travelled to Venezuela since he took office in order to expedite the process of readmitting the country.Kimberley says its members must demonstrate they have legislation and institutions to prevent trade in conflict diamonds, as well as export, import and internal controls plus a commitment to transparency and the exchange of data."Venezuela will be readmitted as a full member within my term as chairman," Bin Sulayem, also executive chairman of the Dubai Multi Commodities Centre, told the meeting.A resumption of legal diamond exports could in the long term give an important boost to Venezuela's economy, which is grappling with runaway inflation and chronic product shortages in the wake of the plunge of oil prices."We are looking forward to having a semi-industrial and an industrial sector soon and we have spoken with a lot of representatives from various producing countries, and look forward to joint ventures," Khan said of Venezuela's plans for its diamond sector.
 Indian farmers are set to reduce the area given over to soybeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyoil.</strongSoybean is the main summer-sown oilseed crop for the world's biggest importer of edible oil, but prices have dropped 10 percent in the past two years, while the prices of pulses such as red gram have nearly tripled over the same period.Lower soybean output will force the country to increase imports of edible oils, supporting their prices. It could also limit India's soymeal exports, given prices for its GMO-free produce are already above international prices.The further price rise due to lower supply could even make imports of soymeal viable for local consumers."In the last two-three years soybeans have given lower returns than competing crops like pulses," said K N Rahiman, chief research officer at Ruchi Soya, the country's biggest edible oil refiner."This year, since pulses prices are ruling near record high levels, farmers will be inclined to shift towards pulses. We could see 5 to 10 percent reduction in soybean area."Farmers planted 11.63 million hectares with soybean in 2015/16. A 10 percent reduction would cut acreage to around 10.5 million hectares in the 2016/17 marketing year starting July.Most Indian farmers begin cultivating soybean and pulses, which are rain-fed crops, in June after the arrival of the monsoon rains, and they are sown mainly in the states of Madhya Pradesh in central India, Maharashtra in the west, Rajasthan in the north-west, and Andhra Pradesh and Karnataka in the south.Dinesh Garg, a farmer from Morena in Madhya Pradesh, plants soybean during summer, but this year he has decided instead to cultivate red gram, better known locally as tuar."Soybean is not remunerative due to lower prices. This year I am more interested in growing tuar," said Garg, who cultivated soybean on 5 hectares of land last year.Soybean production plunged 20 percent in 2015/16 to its lowest in more than a decade after drought and pests hit output.India exports soymeal mainly to Asian buyers, but the drop in production has forced it to import soymeal and soybean in small quantities for the first time in many years.Since the country imports most of its edible oil, limited soybean supply means imports will go up in 2016/17, said Faiyaz Hudani, associate vice-president, research, at Kotak Commodity Services Ltd."Even though oilseed production is stagnant, edible oil consumption has been rising steadily due to growth in population and rising prosperity," Hudani said.India imports mainly palm oil from Indonesia and Malaysia, while it brings in soyoil from Argentina and Brazil.
 Oil prices were little changed in thin early Asian trade on Tuesday as a firmer dollar weighed on oil markets while a likely drawdown in US crude and gasoline stockpiles pointed to stronger demand ahead of the US summer driving season.</strongUS crude futures edged down 4 cents to $48.04 a barrel by 8.16 p.m. ET, having settled down 33 cents in the previous session.Brent futures dipped 4 cents to $48.31 after closing down 37 cents in the previous session, with both contracts finishing with modest losses for a fourth straight sessionUS commercial crude oil stocks likely fell by around 2.5 million barrels to 538.8 million in the week ended May 20, a preliminary Reuters analysts' poll taken ahead of weekly industry and official inventory data showed on Monday.Gasoline stocks likely fell 1.3 million barrels last week, while distillate inventories, which include heating oil and diesel fuel, likely decreased by a million barrels, the poll showed.The American Petroleum Institute (API) is due to release its inventory data later on Tuesday, while the U.S. Department of Energy's Energy Information Administration (EIA) is due on Wednesday.The dollar index rose marginally higher against a basket of currencies on Tuesday, as investors continued to factor in an increased chance of a near-term U.S. interest rate rise.A stronger greenback makes dollar-priced commodities more expensive for holders of other currencies.Still, US data economic overnight was disappointing, with the preliminary Markit manufacturing PMI in May falling to 50.5, the lowest level this year."Markit PMI data continued to point to a difficult period for manufacturing as Q2 unfolds," ANZ said in a market report on Tuesday.Crude exports from Iraq's southern oil fields have fallen by more than 200,000 barrels per day (bpd) to around 3.15 million barrels so far in May, according to an industry source and loading data. That followed the previous month's near-record of 3.36 million bpd.Libya's crude production has risen above 300,000 barrels per day (bpd) after the reopening of the Marsa al Hariga export terminal in the east of the country late last week, a spokesman for the Tripoli-based National Oil Corporation (NOC) said on Monday.
 The Economic Coordination Committee of the Cabinet (ECC) here on Monday approved Special Ramzan Package worth Rs 1.75 billion for providing relief to consumers in the holy month, as compared to Rs 1.5 billion given last year.</strongThe Federal Minister for Finance Senator Ishaq Dar chaired the meeting of the ECC held at the Prime Minister�s Secretariat.The package would cover 22 essential items available at the Utility Store Corporation of Pakistan (USC), according to a statement issued by the Ministry of Finance here on Monday.The meeting was informed that as directed by the Prime Minister, the USC was already providing concession on different items since April 27 which would also continue in Ramzan. The relief on different items ranges from Rs 4 to Rs 50.It is pertinent to mention that overall USC would provide 5 to 10% discount on more than 1000 items for the month of Ramzan through arrangements with vendors or reducing its own profit margins.
 National Bank of Pakistan (NBP) and Industrial &amp; Commercial Bank of China (ICBC), Pakistan signed MoU on bilateral cooperation in Karachi, Pakistan on the celebrations of ICBC�s completion of five years in Pakistan.</strongBoth institutions have agreed to enhance focus on developing niches and creating synergies, The areas of mutual cooperation will focus on trade finance, cash management and international payments, corporate lending and project financing, infrastructure financing, investment banking &amp; RMB services. The two banks have also agreed to expand their business cooperation in other regions globally.The MoU was signed by Syed Ahmed Iqbal Ashraf, President NBP and Mr. Li Xiao Xin, Deputy CEO, ICBC. Mr Masood Karim Shaikh, Group Chief � International Banking Group (NBP) &amp; Mr. Shaikh Tariq Abdullah, Divisional Head � Financial Institutions (NBP) were also present.The ceremony was also attended by Mr. Saeed Ahmed, Deputy Governor State Bank of Pakistan (SBP) and other notable guests from the banking industry.ICBC is the world�s largest bank with total assets of more than USD 3.4 trillion. NBP is Pakistan's one of the largest financial institution with 1,403 branches in Pakistan and a presence in 20 countries spanning the globe.
 OPEC's thorniest dilemma of the past year - at least from a purely oil standpoint - is about to disappear.</strongLess than six months after the lifting of Western sanctions, Iran is close to regaining normal oil export volumes, adding extra barrels to the market in an unexpectedly smooth way and helped by supply disruptions from Canada to Nigeria.But the development will do little to repair dialogue, let alone help clinch a production deal, when OPEC meets next week amid rising political tensions between arch-rivals Iran and oil superpower Saudi Arabia, OPEC sources and delegates say.Earlier this year, Tehran refused to join an initiative to boost prices by freezing output but signaled it would be part of a future effort once its production had recovered sufficiently. OPEC has no supply limit, having at its last meeting in December scrapped its production target.According to International Energy Agency (IEA) figures, Iran's output has reached levels seen before the imposition of sanctions over its nuclear program. Tehran says it is not yet there.But while Iran may be more willing now to talk, an increase in oil prices has reduced the urgency of propping up the market, OPEC delegates say. Oil has risen toward a more producer-friendly $50 from a 12-year low near $27 in January."I don't think OPEC will decide anything," a delegate from a major Middle East producer said. "The market is recovering because of supply disruptions and demand recovery."A senior OPEC delegate, asked whether the group would make any changes to output policy at its June 2 meeting, said: �Nothing. The freeze is finished.�Within OPEC, Iran has long pushed for measures to support oil prices. That position puts it at odds with Saudi Arabia, the driving force behind OPEC's landmark November 2014 refusal to cut supply in order to boost the market.Sources familiar with Iranian oil policy see no sign of any change of approach by Riyadh under new Saudi Energy Minister Khalid al-Falih - who is seen as a believer in reform and low oil prices."It really depends on those countries within OPEC with a high level of production," one such source said. "It does not seem that Saudi Arabia will be ready to cooperate with other members."HIGHER EXPORTSIran has managed to increase oil exports significantly in 2016 after the lifting of sanctions in January.It notched up output of 3.56 million barrels of oil per day in April, the IEA said, a level last reached in November 2011 before sanctions were tightened.Saudi Arabia produced a near-record-high 10.26 million barrels per day in April and has kept output relatively steady over the past year, its submissions to OPEC show.Iran, according to delegates from other OPEC members, is unlikely to restrain supplies, given that it believes Saudi Arabia should cut back itself to make room for Iranian oil."Iran won't support any freeze or cut," said a non-Iranian OPEC delegate. "But Iran may put pressure on Saudi Arabia that they hold the responsibility."Saudi thinking, however, has moved on from the days when Riyadh cut or increased output unilaterally. Talks in Doha on the proposed output freeze by OPEC and non-OPEC producers fell through after Saudi insisted that Iran participate.Indeed, differences between Saudi Arabia and Iran, which helped found the Organization of the Petroleum Exporting Countries 56 years ago, over OPEC policy have made cooperation harder - to say nothing of more fundamental disagreements.For more than a decade after oil crashed to $10 in 1997, the two set aside rivalries to manage the market and support prices, although they fell into opposing OPEC camps with Iran wanting high prices and Saudi more moderate.Now, the Sunni-Shia conflicts setting Saudi Arabia and Iran at each other's throats, particularly in Syria and Yemen, make the relationship between the two even more fraught.The two disagree over OPEC's future direction. Earlier in May, OPEC failed to decide on a long-term strategy as Saudi Arabia objected to Iran's proposal that the exporter group aim for "effective production management".With that backdrop, ministers may be advised to keep expectations low, an OPEC watcher said."The only aspiration OPEC should have for its 2 June meeting is simply not to repeat the chaos of the Doha process," said Paul Horsnell, analyst at Standard Chartered."A straightforward meeting with no binding commitments and, most importantly, no overt arguments would be the best outcome for ministers."
 Gold dropped to a seven-week low on Wednesday, driven by expectations of an early interest rate hike by the U.S. Federal Reserve.</strongBullion has taken a beating from the prospect of an imminent rate increase, as indicated by Fed meeting minutes released last week. Gold is sensitive to interest rates, gains in which raise the opportunity cost of holding the non-interest-yielding asset.Spot gold was up 0.1 percent at $1,227.90 per ounce by 0317 GMT. The metal fell to $1,223 earlier in the session, its lowest since April 7.U.S. gold futures dipped 0.1 percent to $1,228.30."I think gold prices will touch the $1,200-level in the coming few days. The change in rate hike expectations is still the major theme, but after the end of June the overall sentiment on the rate hike will be pretty much done," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.Adding to the woes of the safe-haven bullion, the dollar stood near a two-month peak against a basket of major currencies on Wednesday after robust U.S. housing data supported the case for the Fed to raise rates in the near term.A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.The growing confidence towards a pick-up in U.S. economic growth got a boost on Tuesday as official data suggested new U.S. single-family home sales have hit the highest in eight years.The recent negative undertone for gold notwithstanding, some analysts believe a rate increase as early as June seems unlikely and would be discounted by traders, stabilising the yellow metal."Despite the short term negative pullback, gold is still a strong 2016 performer against a range of alternative assets and these levels are an enticing entry price for long term bulls," MKS Group trader James Gardiner said.Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.44 percent to 868.66 tonnes on Tuesday, the first decline in a month.Among other precious metals, spot silver rose 0.3 percent, to $16.25 an ounce. It dipped as low as $16.14 earlier in the session, its lowest in five weeks.Spot palladium fell 0.5 percent, to $529.50 an ounce, after hitting a twelve-week low of $528.97 earlier in the day. Spot platinum was trading at $1,000.35 per ounce after touching a five-week trough of $992.
 Federal Minister for Planning Commission Ahsan Iqbal said Wednesday that the government took steps to attract Chinese and other investors across the world to invest in Gwadar.</strongWhile talking to private news channel, he said that we should address the difficulties of Baloch people besides development of Gwadar.The minister said the speed of development at Gwadar would increase with every single project coming on the ground under the China Pakistan Economic Corridor.He said that Pakistan�s exports would increase after compeletion of Gwadar port adding that connective roads with other parts of the country would be completed at the end of this year.This was the most advanced port in the whole region, the minister said.The government has declared tax free zone to Gwadar for twenty three years, he concluded.
 Oil rose about 1 percent on Tuesday on a boost from Wall Street and expectations of a drawdown in U.S. crude inventories, then prices jumped another 1 percent after settlement to nearly $50 (�34.2) a barrel after an industry group suggested the draw was larger than expected.</strongData from the American Petroleum Institute (API) showed U.S. crude inventories fell 5.1 million barrels last week, double the expectations of analysts polled by Reuters.The market will watch for confirmation of the big draw when the U.S. Energy Information Administration (EIA) issues official inventory numbers on Wednesday.The rally in crude prices could push prices beyond the $50 long targeted by market bulls."The crude numbers are certainly bullish to an extent, reflecting the supplies lost from the Canadian wildfires," said John Kilduff, partner at New York energy hedge Again Capital. "We could certainly test $50 anytime now, even close above that, if the EIA data turns out to be as supportive."The API also reported higher gasoline inventories which could pressure prices, but traders said the market would probably focus more on the crude drawdown.U.S. crude's West Texas Intermediate (WTI) futures CLc1 settled up 54 cents, or 1.1 percent, at $48.62 a barrel. After the release of the API data, it got to as high as $49.27 by 4:58 p.m. EDT (2058 GMT) in post-settlement trade.Brent crude futures LCOc1 finished up 26 cents, or 0.5 percent, at $48.61, ending a four-day slide. It reached $49.24 in after-hours trade.U.S. equities surged, giving oil a further lift, as investors grew more comfortable with the possibility that the U.S. Federal Reserve might soon raise interest rates. Crude buyers also seemed unfazed by a stronger dollar, which typically makes greenback-denominated oil costlier in other currencies.Earlier in the session, oil was supported by the drop in Iraqi oil output to 4.5 million barrels per day from January's record high of 4.78 million bpd.Consultant IHS said just 2.8 billion barrels of oil were discovered outside North America in 2015 following a sharp fall in exploration and appraisal drilling. It was the lowest total since 1952. Morgan Stanley said in a separate report the figure would be 12.1 billion barrels if it included the United States."As spare capacity dwindles, the threat of a price spike increases," said Matt Smith, who tracks crude cargoes for New York-based Clipperdata.
 Pakistan Consul General in Houston Afzal Mahmood has said traders from Pakistan and the US play a major role in relations between the two countries.�</strongHe said that trade volume between Pakistan and 11 states of US is one billion dollar of which Texas has share of 325 million dollars.He was addressing a reception in honor of visiting delegation of Pakistani traders. The meeting was sponsored by Saeed Sheikh of �Karachi Houston sister city project.To promote bilateral trade between Pakistan and the US, he said, it is necessary to formulate business strategies through prominent entrepreneurs.He said that Pakistan chamber should promote trips to Texas oil field. The Consul General said that law and order situation in Pakistan was less than satisfactory from 2007 to 2013, however the situation has improved much since then.Mahmood said that Mayor of Houston and Texas Governor are willing to visit �Pakistan soon.The visiting delegation leaders Ibrahim Kasoji, member National �Assembly Rasheed Godiyal, prominent Texas businessman Tahir Javed, and sister �city representatives also addressed the event.Speaking on the occasion Ibrahim Kasoji said that Karachi �chamber of Commerce is among top chambers in the world, which has a membership of around twenty thousand individuals.He said Pakistan had been a victim of terrorism but �things have much improved now, and country is on the path to growth.Texas entrepreneur Tahir Javed said that it is important to promote bilateral ties between two countries through trade delegation, conferences and trade affairs.Karachi Houston sister city President Saeed Sheikh said that �sister city is playing a major role in promoting trade ties between the two �countries.The visiting delegation from Pakistan also toured Sam�s club, Walls Street, Bank of America and HoustonPort.They also met with Houston Mayors �office of Trade department officers and Council Members Gregory Cross.Welcoming the visiting group, the city official said that sister city program �can help �boost trade ties with Pakistan chambers and promote environment �for relationship between the traders of the two countries.A dinner was hosted in the honor of visiting delegation by �Counsel General Afzal Mahmood./>�
 The publisher of the Daily Mail newspaper said a downturn in the print advertising market was squeezing margins in its media business, resulting in an 11 percent drop in first-half profit and a lower outlook for the year.</strongDaily Mail and General Trust said the operating margin for its media business would be about 10 percent for the year, rather than remaining at last year�s 13 percent.It said the outlook for the full year was now adjusted for the change in guidance to the operating margin.The company said print advertising revenues in the six months to end-March declined by 18 million pounds, with the market deteriorating further in the second quarter.Digital advertising grew strongly, but was not enough to close the gap, it said.The group reported pretax profit for the period of 129 million pounds.
 Oil prices climbed to just shy of $50 a barrel on Wednesday after a sharper-than-expected fall in crude inventories, lifting energy shares and world stock markets.</strongGrowing bets on a possible Federal Reserve rate increase as early as in June or July reduced demand for U.S. government debt.Investors' expectations for higher borrowing costs have risen since last week's minutes from the central bank's April meeting signalled a June increase was on the table. Comments from policymakers and upbeat U.S. economic data in recent days have supported those views."What you're seeing is a recognition that this is going to happen and investors are getting more comfortable with it," said Kurt Brunner, a portfolio manager at Swarthmore Group in Philadelphia. "There's a recognition that economic growth is okay."Energy Information Administration data showed U.S. crude stockpiles fell last week as imports dropped and refineries cut output. Brent LCOc1 settled up $1.13 at $49.74, whileU.S. crude's CLc1 settled 94 cents higher at $49.56.World stocks markets rose for a second straight session, helped by energy shares including Chevron, up 1.6 percent, and bank shares, which benefit from higher interest rates.The Dow Jones industrial average .DJI closed up 145.46 points, or 0.82 percent, to 17,851.51, the S&amp;P 500 gained 14.48 points, or 0.7 percent, to 2,090.54 and the Nasdaq Composite added 33.84 points, or 0.7 percent, to 4,894.89.Combining Tuesday and Wednesday's performances, the S&amp;P 500 gained 2 percent, its strongest two-day run since early March.MSCI's all-country world stock index rose 0.9 percent, while the pan-European FTSEurofirst 300 index of leading regional stocks ended up 1.3 percent, touching its highest level since late April.Banks in Europe were buoyed after a new debt deal for Greece seemed to head off the risk of another round of uncertainty over its finances and even its future in the euro zone.U.S. Treasury prices fell, with short- and medium-dated yields hitting 10-week highs, helped by the solid advance in Wall Street stocks.Early in the U.S. session, the two-year yield and five-year yield reached 10-week highs at 0.938 percent and 1.424 percent, respectively.The U.S. dollar fell from near a 10-week high against the euro and rose just slightly against the yen as investors took profits on the greenback's recent gains.The euro was last up 0.17 percent against the dollar at $1.1161, while the dollar was last up just 0.11 percent against the yen at 110.10 yen.Investors await Fed Chair Janet Yellen's appearance at a panel at Harvard University on Friday, the same day as they take in a revised estimate of U.S. first-quarter growth.Gold dropped to a seven-week low amid the Fed expectations. Spot gold was down 0.2 percent at $1,223.93 an ounce, off an earlier low of $1,217.25, the lowest since April 6.
 The import of gold into the country increased by 21.34 per cent during first 10 months of current fiscal year (2015-16) as compared to the same period of previous financial year.</strongThe 582 kilogram of yellow metal worth of US 21.634 million was imported during July April (2015-16) as compared to the import of 443 kg gold worth of 17.829 million during last year s 10 months.On the other hand overall metal group imports also increased by 11.47 per cent to 3.361 billion in first 10 months of current fiscal year from 3.015 billion in same period of last year revealed the latest data of Pakistan Bureau of Statistics (PBS).The import of iron and steel scrap also witnessed increase of2.8 per cent from 847.587 million last year to 871.335 million during the current year.Similarly iron and steel import increased from 1.487 billion last year to 1.654 billion this year thus showing an increase of11.17 per cent.The import of aluminum wrought and work jumped by 35.12percent to 158.173 million in July April (2015-16) from 117.063million during July April (2014-15).On year on year and month on month basis the gold imports in April 2016 increased by 15.76 per cent and 32.48 per cent over April 2015 and March 2016 respectively.The gold import increased from 1.783 million in April 2015and 1.558 million in March 2016 to 2.064 million in April 2016. Likewise the import of overall metal group also increased by11.19 per cent and 8.14 percent as compared to the import of April 2015 and March 2016 respectively.The import of metal group was recorded at 399.163 million in April 2016 whereas during April 2015 and March 2016 it was recorded at 358.993 million and 369.109 million respectively.
 Oil prices eased on Thursday after topping $50 (34 pounds) a barrel for the first time in about seven months, while US stocks ended near flat after two days of strong gains.</strongConcern that robust oil price gains could encourage more output weighed on the energy market. Oil futures have risen nearly 90 percent from 12-year lows hit this winter."The global surplus still exists and there is still a possibility that oil prices could retrace further," said Dominick Chirichella, senior partner at the Energy Management Institute in New York.Brent LCOc1 dipped 15 cents to settle at $49.59 after earlier rising to $50.51, its highest level since early November. U.S. crude futures CLc1 fell 8 cents to settle at $49.48 after rising to $50.21, the highest level since mid-October.U.S. stocks ended nearly flat after gaining 2 percent over the previous two sessions, with advancing defensive sectors offsetting declines in materials, banks and other cyclical industries.Equity investors this week have grown more comfortable with expectations the Federal Reserve could raise interest rates as soon as June, with many taking the view that such a hike would reflect improvement in the country's economy."People are taking their foot off the gas after making a bunch of money, and now they're waiting for the next data point," said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York.The Dow Jones industrial average ended down 23.22 points, or 0.13 percent, at 17,828.29, the S&amp;P 500 lost 0.44 points, or 0.02 percent, to 2,090.1 and the Nasdaq Composite added 6.88 points, or 0.14 percent, to 4,901.77.MSCI's all-country world stock index rose 0.2 percent, while the FTSEurofirst 300 closed up 0.2 percent.The U.S. dollar index, which measures the greenback against a basket of six major currencies, was down 0.2 percent as data on U.S. durables orders added to uncertainty surrounding the outlook for rates.Orders for long-lasting U.S. manufactured goods surged in April on strong demand for transportation equipment and a range of other products. But U.S. business spending intentions weakened in April for a third straight month amid soft demand for machinery.Investors are looking ahead to a speech by Fed Chair Janet Yellen on Friday for more clues on the U.S. rate outlook.In the U.S. Treasuries market, prices rose as solid bidding at a $28 billion seven-year note sale reignited bond demand.Benchmark 10-year Treasury notes were up 10/32 in price, yielding 1.833 percent, down 4 basis points from late on Wednesday. The two-year yield was down 4 basis points at 0.875 percent.Gold fell, reversing early gains. Spot gold was down 0.3 percent at $1,220.16 an ounce.
 Pakistan�s auto parts manufacturing industry offers a cost-effective option to automobile manufacturers around the world, Consul General Faisal Niaz Tirmizi has said.</strongSpeaking at the Pakistan�s Automotive Components Manufacturer Exhibition at Novi, Michigan, he said that participation of 14 Pakistani Auto Parts manufacturers in the United States was a sign of revitalization of industrial sector of Pakistan, a country enriched by enormous workforce under age bracket of 30 years.He told the audience that Pakistan�s auto industry provides direct employment to 200,000 Pakistanis directly and 1.2 million Pakistanis, indirectly, thus making a significant contribution to the country�s economy.The consul general also said that only through economic development and employment opportunities, extremism raging across the region could be defeated.Tirmizi also appreciated the role played by the DICE Foundation Inc for its role in bringing 14 exhibitors from Pakistan to showcase their products in the North American Market.The response from local automobile giants like Ford, General Motors and Chrysler was very encouraging.These companies expressed a lot of interest in getting manufactured products from Pakistan.
 Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 a barrel.</strongA stronger dollar also weighed on demand for dollar-denominated oil from holders of other currencies. The dollar spiked after Federal Reserve Chair Janet Yellen said a U.S. rate hike was probably appropriate in coming months.A three-day weekend for the United States, owing to Monday's Memorial Day holiday, further discouraged investors from holding bullish bets."People are worried crude production will come roaring back at these prices," said Phil Flynn, energy markets analyst at the Price Futures Group in Chicago."But I also think we are down because of higher interest rate concerns and the longer weekend," Flynn said. "You don't want to be long on a $50 position when oil could be below $48 by the time the new week opens."Brent crude settled down 27 cents, or 0.5 percent, at $49.32 a barrel. It rose to $50.51 in the previous session, its highest since early November.U.S. crude slipped 15 cents, or 0.3 percent, to settle at $49.33. It hit an October high of $50.21 on Thursday.On the week, Brent rose 1 percent and U.S. crude about 3 percent, helped by gains from earlier this week.With prices finally hitting $50, both Brent and U.S. crude are likely to face technical barriers in the next three to five weeks, analysts said. Producers and speculators have also been loading up on options contracts of U.S. crude to protect themselves from downside risk.Oil pushed past $50 after supply disruptions from Canadian wildfires and militant attacks in Nigeria helped cut global daily output by 4 million barrels."Most of these outages are unlikely to last," UBS analyst Giovanni Staunovo said, anticipating resumption of supply from those sources as well as higher production from the Organization of the Petroleum Exporting Countries.Dominick Chirichella, senior partner at New York's Energy Management Institute, said U.S. crude output could rise by an estimated 300,000 to 400,000 barrels per day as shale producers put drilled but uncompleted wells, or DUCs, into production.The slide in the U.S. oil rig count has virtually halted as well, with just 2 rigs idled this week, data from industry firm Baker Hughes showed on Friday.In the coming week, investors will watch the outcome of an OPEC meeting for signs of more output from Saudi Arabia and Iran in their battle for market share.
The advent of mobile and smartphone technology has transformed the dynamics of communication in Pakistan. The adoption rates for smartphones are growing rapidly in both urban and rural centers. In 2015, 31% of mobiles purchased in the country were smartphones. Pakistan has approximately 80% mobile user penetration. These mobile phones have become so common that they are not considered a luxury device anymore but rather, an item of necessity. This technology has the potential to solve various day-to-day problems and the ability to lift people out of poverty. In fact, in the life of every individual, a mobile phone plays a critical role.���The reason behind a common man owning a phone can be attributed to price affordability and availability of quality smartphones within the reach of the masses. There are some big names is Pakistan�s smartphone market, but the role which Q Mobile has played for equipping the masses with mobile and smartphones has to be applauded. Q Mobile, which is the largest smartphone brand in Pakistan and enjoys a lion's share in the smartphone market, provides various kinds of phones such as smartphones, feature phones and tablets. It is clearly evident that, from a shopkeeper to a businessman, Q Mobile�serves all Socio - Economic Classes.Once upon a time, these phones were used to send a message or receive a call but now, with all telecom operators providing affordable data services, the use of smartphones takes a completely new level of information.We now have access to mobile payment solutions, where we can send or receive money from distant areas within a fraction of seconds. We can shop online and pay via our mobile phones, connect with our loved ones living abroad via video calling, social networking and staying ever connected with all the news from around the world.Very soon, our farmers will check the daily commodity rate or inquire about delivery to the market. Long distance route truck drivers, who transport goods, can use online maps and GPS to plan their routes. Traders in the rural areas can narrow the gap with their buyers and sellers in urban areas by using mobile broadband. Health related services are also available via smartphones. A recent study by the Santa Fe Institute theorizes that cell phone use could help developing countries plan electrical infrastructure.With so much developments taking place, smartphones clearly represent a growing segment of our economy and are an example of how the availability of technology can propel Pakistan in the global marketplace while improving the lives of a common man at the same time.
 The Federal cabinet on Monday approved budget and taxation proposals for the fiscal year 2016-17.</strongPrime Minister Nawaz Sharif chaired the meeting through a video conference from Pakistan High Commission in London.The finance minister briefed the meeting about salient features of the budgetary proposals.The cabinet prayed for the successful procedure and early recovery of the Prime Minister.Earlier, the Prime Minister also chaired the meeting of National Economic Council that gave approval to the budget allocations of various sectors.
 Prime Minister Nawaz Sharif on Monday presided meeting of the National Economic Council and his cabinet through a video link from London where he is to undergo an open heart surgery on Tuesday.</strongThe NEC meeting considered the proposed Annual Development Plan (ADP) and the Public Sector Development Programme (PSDP).Sources said the meeting approved development budget of Rs 1675 billion for the fiscal year 2016-2017.The meeting was attended by federal ministers, chief ministers of the four federating units, governor and chief minister of Gilgit Baltistan and others.The prime minister applauded Planning Minister Ahsan Iqbal and his team for preparing a development plan in line with the economic growth of the country. He said the China Pakistan Economic Corridor has the potential to raise the GDP.Chief ministers of Sindh, Balochistan and Khyber Pakhtunkhwa, Khawaja Muhammad Asif, Ahsan Iqbal, Zafar Iqbal Jhagra interacted with the prime minister and conveyed their wishes for his speedy recovery from ailment. �Following the NEC meeting, the prime minister presided over the meeting of his cabinet and approved budget proposals.Later on, he told media outside the Pakistan High Commission that he was not staying in London on his own accord. He said Pakistan would have achieved GDP target if it had not missed on targets in agriculture, expressing hope that economic situation would improve due to government's policies.Prime Minister Muhammad NawazSharif on Monday said low agricultural performance during the outgoing fiscal year 2015-16 restricted the economic growth at around 4.7 percent which could have touched 5.7 percent.Poor cotton crop and low commodity prices in the international market contributed to the low agricultural performance in Pakistan which caused one percent less growth of economy, he said.He, however, added that the country was on the path of economic growth and would recover further.The Prime Minister referred to the chairing of NEC andFederal Cabinet meetings through video link and said in theprevailing circumstances it was the best possible way that he adopted and it should be acceptable to all.When asked if the secrecy of budget proposals or related information can be ensured by using the video link method for such meetings, Nawaz Sharif said these were just proposals and not any secret.�Budget proposals often become headlines in newspapers one day before these are presented in the cabinet or parliament, he said in a lighter vein.The Prime minister, in response to a query about his health, said with the grace of Almighty Allah he was fine not facing any problem and his health would further improve after the operation on Tuesday.Nawaz Sharif thanked the nation as well as political leaders and others for their prayers and good wishes for him.�����
 China's efforts to lift local consumption, spur domestic tourism and keep within its borders citizens that splurge in Milan or Seoul have spawned a duty-free paradise on the southern island of Hainan that it hopes will satisfy a lust for luxury.</strongFirms such as the owner of the world's biggest duty-free shopping centre, China International Travel Service Corp Ltd (CITS), are capitalising on a relaxation of duty-free spending restrictions in February, with HNA Group Co Ltd reporting a 160 percent surge in sales.Government initiatives, including 19 more duty-free shops nationwide, come as sales of the types of luxury goods that line duty-free shelves fell 2 percent last year. Market watchers pin the blame on a campaign against demonstrations of wealth among public officials, as well as a slowdown in economic growth.As things stand, the Chinese buy close to 80 percent of their luxury goods abroad in cities such as Paris, London and Tokyo, Bain Consultancy estimated."Whether it is Burberry or Richemont recently, many brands in the space have noted that the future of luxury demand will be about the Chinese and incrementally at home," said HSBC analyst Erwan Rambourg in Hong Kong, who recommends buying CITS shares.strong>LESS CHOICE</strongIn Hainan, which is closer to Hanoi than Beijing, duty-free shops offering products priced as much as 30 percent less than the mainland have been operating since 2011, under a trial program aimed at developing the island as a tourist destination.Customers could initially only buy up to 8,000 yuan ($1,220) worth of duty-free goods, twice a year. From February 1, they have been able to make purchases any time of the year provided the total does not exceed 16,000 yuan. At the same time, stores have also been able to sell goods online for collection at airports.In Hainan's provincial capital Haikou in the north of the island, HNA's duty-free sales have since rocketed.In the island's city of Sanya, state-controlled CITS opened the country's first duty-free shopping centre in 2014. The skylit, flower-shaped edifice is about nine soccer pitches in size and filled with shops stocking over 300 brands including from Burberry Group PLC and Compagnie Financiere Richemont SA, as well as goods such as baby formula."It's definitely much cheaper," said 20-something handbag shopper Zhang Pei Pei, "But the choice of products is less."CITS declined to comment when contacted by Reuters.strong>HOTEL RUSH</strongHainan's balmy climate and over 60 beaches is a draw for developers, with Sanya on the island's southern tip dotted with luxurious resorts completed or under construction. That city - three times the size of Singapore - has over 1,000 hotels with 30 more due to open in its Haitang Bay area in the coming years.One of those is the $1.7 billion Alantis project of Chinese conglomerate Fosun International Ltd and the owner of South Africa's Sun City casino resort, Sol Kerzner."Fosun is optimistic in the future development of Sanya," the company said in an email to Reuters.Near the capital Haikou, property and aviation conglomerate HNA plans to develop a deep-water port, international sports stadium and motor racing circuit, as well as an artificial isle similar to Dubai's Palm Islands.Its aim is to become the country's first duty-free retail brand, HNA said in emailed comments.strong>COSMETIC</strongBut for all the glamour, there are plenty of Chinese ready to spend holiday money on products that are more or less in reach on a daily basis.On one weekday afternoon in CITS' mall, queues snaked out of beauty stores from Chanel SA, Estee Lauder Companies Inc and L'Oreal SA, while the outlets of upmarket watchmakers appeared near-empty."I just want to buy cosmetics," said He, a 30-something from southwestern mainland city of Chongqing, who did not provide her surname. "For other things like bags, I will just take a look."In agreement was Huang Cheng, a 26-year-old engineering student from Shanxi province in northern China."We don't really want to buy the big brands," he said, gesturing to the empty watch shops. "The main reason is just to buy daily necessities."Hong Kong-based CLSA analyst Aaron Fischer said the limited number of duty-free zones is unlikely to materially boost domestic spending on luxury goods.He also said price was not the only reason for shopping outside of China. Buying luxury goods in the country of origin gives "a greater feeling of satisfaction," he said.($1 = 6.5565 Chinese yuan renminbi)
 Anil Ambani's Reliance Group has never made a military helicopter, missile system or submarine in its history but that isn't stopping the Indian tycoon from seeking to win contracts to manufacture all of that military hardware and more.</strongKnown for taking some ambitious bets over the past decade, some of which have failed to deliver, Ambani's plans to turn Reliance into a major defence company may be one of his boldest yet. It has already bid for 840 billion Indian rupees ($12.5 billion) in government contracts, senior executives said, though it hasn't yet won any of those.The success of the strategy will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether Prime Minister Narendra Modi can get India's notoriously slow procurement process to work.Modi has made defence a big part of his "Make in India" programme. As part of any defence contract, he is demanding foreign companies tie up with a local partner, transfer technology and move some manufacturing to India.At stake is $250 billion in defence contracts the government is expected to award over the next 10 years as it looks to upgrade the military's aging equipment. "We hope to have a significant share of this pie," said R K Dhingra, chief executive of Reliance Defence. He predicted the company will "emerge as a key player in the defence sector over the next few years."Reliance's ambition is greeted with scepticism by many in the defence world. An military official involved in defence procurement said Reliance is overreaching in wanting to make everything from ships to planes. Some rivals and potential partners for the contracts said Reliance will struggle to master the manufacture of such a wide range of sophisticated military hardware."There is no quick money in this branch," said Jan Widerstrom, head of Saab India Technologies, a unit of Saab AB. "It requires a lot of experience, high tech culture, investments and a long-term business plan."Still, Saab and Reliance are working together in developing the next generation Combat Management System for the Indian Navy and Coast Guard.Recently, Reliance's lack of experience and questions about its ability to handle sensitive technology and intellectual property counted against it in its bid to partner with the Russians to build 200 Kamov helicopters, said a Russian diplomat in New Delhi, who declined to be identified in this story because they weren't speaking in an official capacity.The contract, estimated to be worth a little over $900 million went instead to Indian state-controlled company Hindustan Aeronautics Ltd.Ambani should identify core areas and concentrate on them rather than "be an inch deep and a mile wide," said Nitin Gokhale, founder of defence website Bharat Shakti.strong>RELIANCE GROUP</strongThe Reliance conglomerate split into two in 2005 after a bitter feud between Anil Ambani and his older brother, Mukesh. The latter got the flagship Reliance Industries, with interests in petrochemicals, oil and gas exploration, refining and textiles.Anil got telecoms, power, entertainment and financial services businesses. But some of his businesses struggled, especially an ill-timed foray into infrastructure, and debt piled up.Its Reliance Infrastructure arm, which includes the defence operations, aims to be debt free in the current financial year ending March 2017, according to Lalit Jalan, who is acting CEO of the unit.To get there it plans to sell assets, including road projects and a stake in a power distribution company for about 180 billion rupees, according to another senior Reliance executive. Ambani entered the defence sector last year, when he took a controlling stake in a company that made warships and energy exploration vessels, in Modi's home state of Gujarat, called Pipavav Defence and Offshore Engineering Co Ltd, for about 20 billion Indian rupees.That became Reliance Defence and Engineering Ltd. Since then, Reliance has bought hundreds of acres of additional land to build an aerospace facility and another shipyard in other parts of the country.It has also signed more than half a dozen joint venture agreements with foreign companies, including one with Rafael Advanced Defence Systems of Israel, to bid for Indian government contracts as they come up.An Israeli defence industry source said for Rafael the idea is that if it wins tenders, Reliance will produce some components for missiles and other systems.strong>BUILDING EXPERIENCE</strongAmbani has said that lack of experience is being held against his company."Despite a committed reformist mindset at the top, we are still seeing opportunities being denied to new players on grounds of lack of experience," Ambani told a 'Make in India' summit on defence in March.Reliance Defence has been building an experienced team. Dhingra earlier headed Lockheed Martin's India operations, and the company has hired a slew of senior army and navy officers who have executed large defence projects from conception to delivery, the Reliance executive said.The group's experience in managing complex projects in India, including building roads and power plants should help it, the executive said. For design, technology and complicated weaponry, Reliance would have a foreign partner, he noted.Reliance expects to spend up to 20 billion rupees over the next three years in upgrading facilities as it gets business, keeping its outlay low as it waits for contracts, the executive said.Thanks to its Pipavav shipyard, Reliance expects the naval part of its business to be the first to take off, he said. It plans to bid for a $7.5 billion submarine contract that the government is expected to give out to replace the navy's ageing and accident-prone fleet and narrow the gap with rival China's rapidly modernizing fleet.Ambani also has plans to bid for contracts in the future to make nuclear-powered submarines.($1 = 67.3 Indian rupees)
 The government has decided to keep the prices of petroleum products unchanged rejecting� the summary seeking revision of the prices.</strongFinance Minister Ishaq Dar confirmed the decision has been taken on the special directives of Prime Minister Nawaz Sharif,On Monday, the Oil and Gas Regulatory Authority (OGRA) sent a summary to the Ministry of Petroleum and Natural Resources suggesting an increase in prices of petroleum products for the month of June.According to sources, the ministry requested a hike of 0.85 rupees per litre for petrol, 2.18 rupees per litre for high octane, 6.69 rupees per litre for diesel and 3.97 rupees per litre for kerosene oil.�
strong>Germany has slipped out of the top 10 most competitive economies in the world, falling two places to 12 from last year, a study by Swiss business school IMD showed on Monday.</strongThe study, based on a worldwide survey of 5,400 managers assessing 342 criteria, showed that a diminished assessment of Germany's government and the economy's performance were the main reasons for the drop, IMD director Arturo Bris said."The biggest danger for Germany is self-satisfaction," Bris said. "If it rejects that, it will get back into the top ten."Hong Kong came top in the survey this year, followed by Switzerland and the United States.
strong>Oil prices inched up toward $50 a barrel on Monday, although uncertainty ahead of an OPEC producer-group meeting later in the week was expected to cap gains.</strongThe Organization of the Petroleum Exporting Countries meets in Vienna on Thursday and most analysts did not expect any changes in the group's production.While OPEC has been unable to agree on an output freeze to support prices, Iraq was the latest Middle East producer to raise its export quota ahead of the meeting, supplying 5 million barrels of extra crude to its partners in June."So far there's pretty much a consensus that nothing will happen and that the same strategies will continue, which are basically produce as much as you want and go for market share," said energy economist James L. Williams of WTRG Economics in Arkansas.Price moves will be choppy in the run-up to the meeting, Williams added.Brent crude futures LCOc1 settled up 44 cents at $49.76 a barrel, reversing losses from earlier in the day. There was no settlement in U.S. West Texas Intermediate, or WTI, crude futures CLc1 because of the U.S. Memorial Day holiday, but at 1839 GMT WTI was up 27 cents at $49.60.Trade was subdued because of public holidays in Britain and the United States, where Memorial Day is seen as the traditional start of U.S. summer driving season.Vienna-based consultancy JBC Energy said global oil demand rose by 1.5 million barrels per day in January-April. That was stronger than many forecasts and stemmed from strong consumption in the United States, China and India.U.S. crude output also dropped to its lowest since September 2014 after drillers cut rigs for the ninth week in 10 despite the recent rally in oil prices.However, an expected rise in Canadian oil sands production could weigh on WTI. Suncor Energy (SU.TO) is planning to ramp up output at its fields in Alberta this week after it was forced to shut them down earlier in May because of massive wildfires.Outages because of wildfires in Canada and unrest in Libya and Nigeria helped to push oil prices to a seven-month high in recent weeks.
 The tall claims of the government to end loadshedding have failed as shortfall of electricity has exceeded 6,500 megawatts in the country.</strongThe demand of electricity has reached upto 22000 MW while power generation could not be enhanced from 15,523 megawatts. The duration of loadshedding in urban areas is 12 to 14 hours while in rural areas this duration has reached from 16 to 18 hours.Owing to severe power outages, the business have stand blocked in almost all the major cities of the country. The shopkeepers in markets and bazaars have been using hand fans to meet their requirements while customers have been confined in their houses.The public circles are of the view that the government should focus on ending the line losses so that people could not face the long duration of power outages.
 A major conference aimed at building business-to-business linkages between U.S. and Pakistani businesses and to generate networking opportunities for them will get underway in New York on Thursday.</strongThe first to be held in the United States, the two-day U.S.-Pakistan Business Opportunities Conference (June 2-3) is the fourth in a series. The previous conferences took place in London, Dubai and Islamabad.Officials said that 2016 conference will highlight business opportunities for U.S. and Pakistani businesses, with particular focus on fashion apparel, health care, information communication technology, and agriculture. It will bring together over 250 industry representatives, investors, and government leaders from the two countries and will feature emerging professionals and entrepreneurs Pakistan�s delegation will be led by Commerce Minister Khurram Dastgir Khan, and will also include Ambassador to the United States Jalil Abbas Jilani.The U.S. delegation will be led by Bruce Andrews, Deputy Secretary of Commerce and will include Fred Hochberg, Chairman of the Export-Import Bank of the United States;Ambassador Richard Olson, U.S. Special Representative for Afghanistan and Pakistan; Larry Sampler, USAID Assistant to the Administrator for Afghanistan and Pakistan; and Ziad Haider, U.S. Special Representative for Commercial and Business Affairs.Vice Chairman of General Electric John Rice will also deliver a keynote speech.Conference official said the Business Opportunities Conference is another sign of the growing cooperation between the two economies.
strong>Gold rose early on Wednesday after closing up the previous day for the first time in ten sessions, supported by an easing dollar and weaker Asian stocks.</strongstrong>FUNDAMENTALS</strong* Spot gold had climbed 0.2 percent to $1217.08 per ounce by 0037 GMT. Bullion gained 0.8 percent on Tuesday in its biggest one-day gain since May 13.* U.S. gold was up 0.2 percent at $1219.8.* Asian stocks sagged on Wednesday as a slip in crude oil prices dampened investors' appetite for riskier assets, while the recently bullish dollar stalled against the euro and yen following a mixed bag of U.S. economic data.* MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.* The dollar index pulled back from Monday's two-month peak of 95.895 to stand at 95.802.* U.S. consumer spending recorded its biggest increase in more than six years in April as households stepped up purchases of automobiles, suggesting an acceleration in economic growth that could persuade the Federal Reserve to raise interest rates soon.* The U.S. economy is on track to grow by a 2.9 percent annualised rate in the second quarter following surprisingly strong data on domestic personal spending in April, Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.* Prime Minister Shinzo Abe is essentially giving up on fiscal reform by postponing a sales tax hike for two and a half years, putting Japan's credibility on the line and heightening the risk of a credit downgrade that could lift corporate borrowing costs.* The U.S. Mint sold 76,500 ounces of American Eagle gold coins in May, down 27.5 percent from the previous month, according to the latest data.strong>MARKET REPORT</strong* Oil prices dipped on Tuesday as a stronger dollar and slide in equity prices sparked profit-taking, but crude futures posted a fourth straight monthly gain as investors bet the global glut was slowly easing.
 Pakistan�s government revenue collection inched up 10.4 percent to in the first nine months of the fiscal year ending June 30, the finance ministry said on Thursday.</strongExports through April slowed by 9 percent year-on-year to $18.8 billion, weighed down by crop failures production of main export cotton, Finance Minister Ishaq Dar told reporters.The current account deficit through March eased a bit to $1.6 billion, or 0.6 percent of GDP, according to ministry figures.In a press conference ahead of the report�s release, Dar had said the current account deficit number was $1.52 billion.Foreign direct investment through April was $1.03 billion, compared with $907 million the same period of the last fiscal year.Federal Minister for Finance Ishaq while launching the Economic Survey, a day before presenting annual budget for 2016-17, shed light on macroeconomic performance achieved by the country in outgoing financial year.The government, however, missed GDP target largely due to poor performance in agriculture sector.� The agriculture sector witnessed decreased by 0.19 pc, missing the growth target, which was set at 3.9 pc.The country, he said missed target in the agriculture sector due to 28 percent decline in cotton crop , adding that the government announced Rs600 billion Kissan package during the current fiscal year.�He said the government would announce package for growth in agriculture sector in the next fiscal years.�He said the budget deficit for the current year remained 1.52 billion dollars. The country, however, seemed to have made significant achievement in industrial sector where growth rate was recorded at 6.8 pc against the target of 6.4 pc. Services sector, the minister told media, also grew in outgoing fiscal year.Dar said Foreign Direct Investment increased by 5.4pc and most of it took place in oil and gas sector. �Exports in last 10 months stood at USD18.18 billion,� he said, adding that 10-month import bill stands at USD32.75 billion while foreign remittances stood at USD16.03 billion in 10 months./>�������
 Oil prices were steady on Thursday on mixed market signals ahead of an OPEC meeting in Vienna, which analysts said was not expected to result in restrictions on crude output.</strongInternational Brent crude oil futures were trading at $49.77 per barrel at 0200 GMT, up 5 cents from their last settlement, while U.S. West Texas Intermediate (WTI) crude was down 9 cents at $48.92 a barrel.The Organization of the Petroleum Exporting Countries (OPEC) is set for another showdown between Saudi Arabia and Iran when it meets on Thursday in the Austrian capital, with Riyadh trying to revive coordinated action or a formal oil output target, but Tehran refusing to cooperate."An output ceiling has no benefit to us," said Iranian Oil Minister Bijan Zanganeh as the country tries to recoup lost market share following the lifting of sanctions against it in January.Despite rising output by OPEC's Middle Eastern producers, the group's overall production has remained largely flat this year, currently standing at 32.5 million barrels per day (bpd), capped by disruptions especially in Nigeria, Libya and Venezuela.Citi said it expected oil prices to rise above $50 per barrel "in the near future" as attacks on oil infrastructure in Nigeria, power outages and payment issues in Venezuela and chaos in Libya have reined in total OPEC production even as Iran has ramped up harder and faster than expected.Because of supply disruptions elsewhere, the Middle East's low cost producers see little reason to restrain output as overall market conditions have improved significantly for them this year."Since January 20, oil prices have almost doubled from near $26 per barrel to almost $50 per barrel, at the same time total OPEC production has increased by around 100,000 bpd, despite heavy outages in Nigeria," BMI Research said."This indicates the strategy championed by Saudi Arabia... to let the oil market balance without intervening, is gradually playing out," it added.Despite this, producers are eyeing China's slowing economy with concern."OPEC members will be keeping a close eye on China, with the low factory activity data that has been released possibly signalling a diminishing demand for oil � something that could do real damage to oil prices," said Mihir Kapadia, CEO at Sun Global Investments.Car sales in China, an important gauge for gasoline and, by extension, crude oil demand, have also fallen by almost a quarter since the end of 2015 to 2.12 million new registered vehicles in April.
 The government on Friday allocated Rs 587.476 million in the Public Sector Development Programme (PSDP2016�17) for the four major ongoing schemes aimed at stepping up exploration activities of natural resources to achieve self�reliance in the energy sector.</strongAccording to the PSDP, the projects approved by the CentralD evelopment Working Party (CDWP) and Departmental Development Working Party (DDWP) are being executed at an estimated cost of Rs 935.857 million without any foreign financial assistance.Under the programme, Rs 415.807 have been earkmarked to acquire four drilling rigs and their accessories for the Geological Survey of Pakistan.While Rs 131.619 million would be spent on appraisal of newlydiscovered coal resources in Badin and its adjoining areas of Southern Sindh.The funds amounting to Rs 28.700 million would be utilized in exploration and evaluation of metallic and minerals in Bela and Uthal areas of district Lasbella Balochistan.Similarly Rs 11.350 million have been reserved for exploration of Tertiary Coal in the Central Salt Range of Punjab.<br/> Currently the country is facing a huge gap between demand and supply of energy its total gas production was four billioncubic feet per day (bcfd) against the demand of 8 bcfd of gas.The oil production stands at 10 000 barrels per day while itsrequirement is seven to eight times higher than the production.
 The government has allocated Rs 21486.487 million for the Higher Education Commission (HEC) for the Fiscal Year 2016-17 in the Public Sector Development Program (PSDP).</strongAccording to budgetary document released on Friday, a total amount of Rs5426.631 million has been earmarked for the new schemes of the HEC while Rs 16059.856 million would be spent on the ongoing schemes.The allocated amount for the new important schemes included Ph.D Scholarship Program under Pak-US Knowledge Corridor phase 1 with total funding of Rs 300 million while Rs 297.981 million has been earmarked for Strengthening &amp; Up gradation of the Universities of Less Developed Areas.An amount of Rs 200million has been allocated for the Women University Campuses at Pashin and Khuzdar.The ongoing schemes of the HEC included Establishment of FATA University for which Rs 250 million has been earmarked while Rs350 million would be spent on the establishment of University of Loralai Rs 50 million allocated for establishment of University at Sibi Balochistan.A sum of Rs 500 million has been earmarked for the Fulbright Scholarships Support Program of HEC USAID Phase 2 while Rs 900 mln would be utilized for Indigenous PhD fellowship for 5000 scholars HEC phase 2.A sum of Rs 105 mln woul dbe spent on provision of funds to the students from FATA and Balochistan students for higher education.An amount of Rs 70 mln would be utilized for theUpgradation of the Federal Government College for Women F 7 2 toFederal Women University Islamabad.
 Government is targeting a 16 percent rise in tax revenues in the year ending June 2017, Finance Minister Ishaq Dar said on Friday as he unveiled a budget.</strongIn his budget speech in the parliament, he said Pakistan would target a fiscal deficit of 3.8 percent of gross domestic product for the coming financial year, down from the 4.3 percent envisaged for this year.He said the aim was to push Pakistan�s persistently low tax-to-GDP ratio to above 10 percent and raise revenues from taxation to 3.95 trillion rupees ($37.8 billion)from 3.42 trillion this year.The minister presented a review of government�s performance over the last three years during which he said the country achieved economic stability.�Economic indicators reflect our performance,� Dar said. �I am thankful to Allah that we are given an opportunity to present budget for fourth time. Our each budget was better than the previous ones.��We have successfully managed to put Pakistan on the right track.� The finance minister told the House that the country�s GDP growth stood at 4.7 pc. �While on the path to economic prosperity, the government has managed to put inflation in check,� he added.Revealing his government�s performance on the economic front, Dar said tax collection stood at record high. However, exports showed a major decline, but for the finance minister, it was mainly due to a global downward trend that should be blamed.He said pension of federal government employees would be increased by 10 percent while employees over 85 years of age would get 25 percent raise.The minister also announced 50 percent increase in conveyance allowance for grade 1-5 employees.He expressed hope to meet Rs3104bn tax revenue target.He said exports stood at 18.2 billion dollars with 11 percent decrease between july-2015-2016 as compared to 20.5 billion dollars in the same period in 2012-13 , mainly due to Decline in Global Comodities Prices.The minister said imports stood at 32.7 billions dollars between July-April 2015-16 as compared to� 33 billion dollars in the same period in 2012-13.A 40 percent increase was recorded in imports of machinery which shows an increase in investment.Appreciating services of Pakistani expatriats, he said Pakistan�s foreign remittances soared to 16 billion dollars during July-April 2015-16 as compared to 11.6 billion dollars during the same period in 2012-13.�strong>GROWTH</strongstrong>REVENUE</strongstrong>SUBSIDIES</strong�strong>DEFENCE BUDGET</strongstrong>TAXATION</strong�����
 Pakistan is expected to target tax revenue growth of up to 20 percent by focusing on tax evaders and will offer concessions to the industrial and agricultural sectors to spur growth, analysts said on Thursday, a day before the annual budget was released.</strongFinance Minister Ishaq Dar will release the federal budget in parliament on Friday, in the absence of Prime Minister Nawaz Sharif, who is recovering from open-heart surgery in London.Annual budget outlay is expected to be around 4,400 billion rupees ($42.04 billion), with a fiscal deficit target of around 3.8 percent, according to a pre-budget briefing from Topline Securities Ltd, a Karachi-based research organisation.Similar briefings from Arif Habib Research Ltd, Elixir Securities, Foundation Research and other analysts corroborated those expectations, with fiscal deficit expectations ranging between 3.8 and 4 percent."I think tax increases would be across the board, but right now it looks like non-filers [of income tax] would be the target," said Mohammed Sohail, CEO of Topline Securities."Another target is elimination of subsidies and discretionary tax incentives [for industries]."The government last year targeted tax dodgers by introducing higher rates of withholding taxes on banking and other transactions for those who do not file annual income taxes.The tax revenue target is expected to be around 3,700 billion rupees ($35.35 billion), an increase of 20 percent in absolute terms from last year's target of 3,100 billion rupees ($29.62 billion), analysts say.The government is on track to miss its tax target of 3,672 billion rupees ($35.12 billion) for this fiscal year ending June 30, with tax revenue hitting 2,481 billion rupees ($23.73 billion) through March 2016.Around 200 billion rupees ($1.91 billion) in new tax measures are expected, including the renewal of a so-called "Super Tax" of 3 percent (4 percent for banks), imposed last year as a one-time measure to pay for the war against Islamist militants.The "Super Tax" targets companies with more than 500 million rupees ($4.78 million) in pre-tax profits, who number in the hundreds in Pakistan, said Sohail.Other additional taxes are expected on commercial gas and electricity connections, sugar, car leases, cigarettes and possibly on non-profit organisations, analysts said.strong>FISCAL DEFICIT TARGET</strongAnalysts expect the new fiscal deficit target may be missed, as Pakistan exits the strictures of an International Monetary Fund assistance package this year and the government prepares for a 2018 general election.On Monday, the government announced 1,675 billion rupees ($16.00 billion) in annual development spending at both the federal and provincial level.On Thursday, Pakistan announced it had missed its economic growth target by 0.79 percent, hitting 4.71 percent growth in the fiscal year ending in June, the highest level seen in eight years. On Monday, it set a growth target of 5.7 percent for the fiscal year beginning in July.Last year, the agricultural sector, the largest employer by sector in Pakistan, shrank by about 0.19 percent, he said, mainly due to structural issues and a poor cotton crop.The textile sector, which analysts say lost up to $3 billion in exports last year due to power shortages, a global drop in demand and a poor cotton crop, will also be targeted for revival, textile manufacturers told Reuters.($1 = 104.5600 Pakistani rupees)
 Pakistan Poultry Association (PPA) on Saturday confirmed that live poultry would be sold up to Rs 145 per KG in the market since government had not imposed new taxes on poultry products.</strongChick meat would also be available in the market up to Rs 200 per KG as the government upheld its promise of not imposing additional tax on poultry sector, Central Chairman PPA Khalid Saleem Malik told APP here.He said the government has announced big relief for the poultry sector and food industry related to poultry.He said because of these gestures from the present government the poultry sector would grow and contribute to the country s economy.Saleem Malik said the increase in chicken prices was due to high price inputs.He said in past large portion of local poultry production was shut down due to heavy losses incurred due to spread of disease among chicken and climate changes.The Central Chairman PPA said other reason which prompted upward poultry price was increasing prices of poultry medicines poultry feeds and other variables.Former President PPA Hassan Sarosh said the government has given relief to the poultry sector adding we would now maintain poultry prices as negotiated with the government.Chicken Wholesale Dealers Association representatives Abdul Majeed and Bilal Shoukat who owned poultry business in suburbs of Islamabad said prices had gone up because of shortage of chicken in the poultry farms.He said because of sound economic policies of the government the representatives of PPA and other stakeholders have agreed to maintain prices.It may be mentioned here that Finance Minister Ishaq Dar in his post budget press conference has announced to maintain prices of live chicken around Rs 145 per kilogram during the financial year 2016 17. The Minister said the representatives of Pakistan Poultry Association and other stakeholders have agreed to maintain prices for next two year.
 �The IMF on Saturday released the first tranche of a $1.5 billion bailout for Sri Lanka, which is reeling after a government spending spree and facing a balance of payments crisis.</strongThe International Monetary Fund said the formal approval of a 36-month loan under its Extended Fund Facility (EFF) will also help Sri Lanka secure another $650 million in other multilateral and bilateral loans.President Maithripala Sirisena�s administration sought an IMF bailout immediately after taking power in January last year, but the fund turned down the request, saying the country�s reserves were at a comfortable level then.However, the government faced a balance of payments crisis after it implemented its election pledges of higher public sector salaries and lower fuel and utility prices.The first instalment of $168 million out of the $1.5 billion will be made immediately, the IMF said.It noted that Sri Lanka�s economy was beginning to show signs of strain from an increasingly difficult external environment and said Colombo must increase tax collection and ensure exchange rate stability."Tougher external conditions in the wake of China rebalancing and unwinding of unconventional monetary policies were not outside Sri Lanka�s past experience."However, spillovers were magnified by domestic imbalances, as evidenced by higher volatility around the two elections (in 2015)," the IMF said referring to the government increasing salaries and reducing prices as part of election pledges.The IMF said the bailout also provides for reform."The new government�s economic agenda, supported by the EFF, provides an important opportunity to re-set macroeconomic policies, address key vulnerabilities, boost reserves, and support stability and resilience," the IMF said.Sri Lanka enjoyed a blistering economic growth rates averaging more than 8.0 percent for two years after a prolonged civil war ended in 2009.But the pace of expansion has since slowed, falling to 4.8 percent in 2015, down from 4.9 in the previous year, according to official data.In 2009, Sri Lanka received $2.6 billion from the IMF to boost its financial reserves, which dropped below $1 billion at the height of fighting between Tamil Tiger rebels and troops.
 Turkish authorities have sunk an A300 Airbus jet off a resort on the Aegean Sea with the aim of boosting diving tourism in the region, reports said Sunday.</strongThe giant plane was put to the bottom of the sea Saturday afternoon off the popular resort of Kusadasi in Aydin province, the Dogan and Cihan news agencies reported.The sinking of the giant plane -- with a wingspan of 44 metres (144 feet) and a length of 54 metres (177 feet) -- is aimed at promoting artificial reef diving which is hugely popular with experienced divers.Once sunken, the plane acts like a reef, becoming a magnet for underwater flora and fauna.<br/>The 36-year-old aircraft had been bought by Aydin municipality from a private aviation firm for 270,000 Turkish lira ($93,000).Turkey is looking for new ways to promote its key tourism industry, which is expected to suffer a battering this year due to the security situation after a string of deadly attacks.Hundreds of people watched the two-and-a-half hour sinking on nearby boats, cheering and blasting their foghorns as the nose of the plane finally went down, video images showed."Our goal is to make Kusadasi a centre of diving tourism," said Aydin�s mayor Ozlem Cercioglu."Our goal is to protect the underwater life. And with these goals in mind, we have witnessed one of the biggest wrecks in the world."She added: "Our main target to diversify tourism in Kusadasi and have a 12 month season."Three small planes have been sunk off Turkish resorts of recent years in the hope of promoting dive tourism but this is the first time Turkey has sent such a large aircraft to the bottom of the sea.
 After achieving economic stability, the focus of Budget 2016-17 would be on improving economic growth by prioritizing agriculture sector development and promotion of exports, said Finance Minister Senator Muhammad Ishaq Dar on Saturday.The Finance Minister stated this while addressing a crowded post�budget press here at P Block Auditorium.He was flanked by Advisor to the Prime Minister on Revenues Haroon Akhhtar, Special Secretary to Finance Ministry Dr. Shuja Ali, Secretary Finance Dr.Waqar Masood Khan, Chairman Federal Board of Revenue (FBR) Nisar Muhammad Khan, Additional Secretary Finance Tariq Mehmood Pasha and senior officials of the Ministry of Finance.Ishaq Dar said that the two sectors which needed boost for the promotion of country�s Gross Domestic Product (GDP) were agriculture and exports.He said agriculture provides employment to 45 percent labour forces and 70 percent population is dependent on it while its share in national GDP is about 21 percent, adding negative growth of 0.19 in this sector and 28% reduction in cotton production did affect overall growth rate.He said that provision of relief to agriculture sector was the top most priority of the government so in the budget 2016-17, the prices of Urea fertilizers have been reduced by Rs. 400 per bag from Rs. 1800 to Rs.1400 while the prices of DAP has also been cut from 2800 to 2500 providing 300 relief to farmers.He said the agriculture package announced in the federal budget was devised in consultations with farmers representatives, chambers of commerce and other stakeholders.He said that sales tax on pesticides have also been zero rated while the per unit electricity charges for tube�wells has been reduced from Rs.8.85 plus sales tax to Rs.5.35 adding that the provinces have been requested to adjust sales tax keeping in consideration to provide relief to farmers.The Minister said that the second priority sector for boosting growth was to promotion of exports.He said that due to fall in commodity prices in the international market the exports from the county witnessed decline in terms of cost, however the exports of different commodities increased in terms of quantity.He said that Pakistan aimed at enhancing ratio of exports to GDP which is about 15 percent or US 45 billion in emerging economies.He informed that in July this year Pakistan Stock Exchange was likely to be accepted by the international stock market as a frontier market.He said the government was all set to launch Pakistan Microfinance Company which would have potential of providing microfinance facility to 25 million people and would also help in creation of 300 000 new jobs.Moreover, he said when the country�s economic growth would cross 7 per cent, a huge number of new jobs would also be created due to increase in economic activities in the country.�
 Saudi officials have finalised a detailed plan to diversify the country�s economy away from oil and have sent it for cabinet approval, official media said on Monday.The National Transformation Programme (NTP) will elaborate upon Vision 2030, an 84-page document released in April by Deputy Crown Prince Mohammed bin Salman, 30, who is leading the reform charge.At the heart of the Vision is a plan to float less than five percent of state oil firm Saudi Aramco on the stock market.The proceeds would become part of the world�s largest state investment fund, with $2 trillion in assets.Profits from the investment fund would help economic diversification and provide an alternative to oil revenues that have fallen by about half since 2014.The collapse has accelerated Saudi efforts to move away from petroleum which still accounts for the bulk of government income.The main economic coordinating body, the Council of Economic Affairs and Development chaired by Prince Mohammed, on Sunday night decided to submit the "final version" of the NTP to the cabinet for approval, the Saudi Press Agency said.The cabinet normally meets on Mondays. A press conference is expected in the Red Sea city of Jeddah, the summer home of the government, on Monday night.According to Vision 2030, the NTP relates to the government�s role "in implementing the initiatives necessary for delivering on national priorities."It said opportunities for partnering with the private sector were being looked at, "as well as innovative administrative and funding approaches. We are detailing specific initiatives that have clear performance indicators."Among its wide-ranging goals the Vision aims to reduce unemployment, increase women�s participation in the workforce, boost private sector economic contributions, and develop cultural and entertainment activities in the kingdom.Saudi Arabia is one of the world�s most conservative societies, but more than half of its citizen population is younger than 25.
 Saudi Arabia's National Transformation Plan, a pivotal element of the "Vision 2030" reforms announced in April by Deputy Crown Prince Mohammed bin Salman, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.</strongThe plan is expected to flesh out sector-by-sector details of the implementation of Prince Mohammed's programme, which is intended to restructure the kingdom's entire economy and make it less dependent on oil revenue."The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA," the source said.Prince Mohammed was given a central role in decision making after his father, King Salman, became monarch early last year, taking charge of CEDA, a new supercommittee of top ministers charged with overseeing reforms.Saudi Arabia finances now depend on oil revenue and its economic performance closely tracks government spending. But energy prices have plummeted since mid-2014, causing steep declines in income and putting growth at risk.HIGH PROFILEThe wider reforms are expected to include subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment. Last month the International Monetary Fund said the plans were "appropriately bold and far reaching".Details of the plan, a programme of wide-ranging economic reforms, will be disclosed in daily news conferences with government ministers starting Monday evening, the senior source said.Other parts of the Vision 2030, including a partial privatisation of state oil giant Saudi Aramco and transformation of the government's Public Investment Fund into one of the world's biggest sovereign wealth funds, have yet to be approved.The emphasis placed on the plan by Prince Mohammed is evident in the high-profile nature of its launch, with senior ministers expected to deliver rare briefings on how their departments will implement the programme.The timing is also significant because Monday is the first day of the Muslim fasting month of Ramadan, when business and government activity in the conservative Islamic kingdom have historically slowed down. Launching the plan despite the start of the holiday signals a more energetic approach.Riyadh has been cutting spending and trying to raise fresh revenues as it grapples with its budget deficit, which totalled $98 billion in 2015.The IMF predicted the deficit would stay very large this year, at about 14 percent of gross domestic product compared to 16 percent last year.
 Asian shares rose on Monday and the dollar wallowed close to its lowest in nearly a month after U.S. nonfarm payrolls showed the slowest job growth in more than five years, quashing expectations for a near-term U.S. interest rate hike.</strongMSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 percent in early trade. Wall Street ended down on Friday, though off session lows, with the S&amp;P 500 finishing within just 1.5 percent of its record closing high.Japan's Nikkei stock index slipped 1.6 percent, after the dollar skidded 2 percent against the yen on Friday.U.S. nonfarm payrolls rose by just 38,000 last month, the smallest increase since September 2010 and well shy of expectations for a rise of 164,000. All 105 economists polled by Reuters had forecast higher numbers.A Reuters poll of Wall Street's top banks taken after the jobs figures showed that all of them expect the U.S. Federal Reserve to leave interest rates unchanged at its June 14-15 policy meeting."I am still on the side that the U.S. economy is better than these data look, but it is also the case that the Fed has less confidence than I do and the market is unlikely to turn around unless there is a major piece of data that surprises on the upside," Steven Englander, managing director and global head of G10 FX strategy at Citigroup in New York, said in a note.Data on the U.S. non-manufacturing sector also disappointed, showing a drop in the May headline index to 52.9 from 55.7 in April.Fed funds futures rates indicated that traders see only a 6 percent chance of a Fed hike this month, down from 21 percent as recently as Thursday, according to CME Group's FedWatch tool.Later in the session on Monday, Federal Reserve chair Janet Yellen will address an event in Philadelphia. Markets will pay close attention to her last official remarks ahead of the pre-meeting media blackout.The dollar index, which tracks the greenback against a basket of six major currencies, edged up 0.1 percent to 94.112 but remained not far above Friday's low of 93.855, its lowest since May 12.The dollar rose 0.1 percent to 106.64 yen after brushing as low as 106.35 earlier in the session, its deepest nadir in a month.The euro inched 0.1 percent lower to $1.1350, after nosing to a fresh high of $1.1375 earlier, its highest level since May 13.Sterling tumbled 0.7 percent to $1.4396 after sinking as low as $1.4352 earlier, wallowing around three week lows as voters in Britain gear up for the June 23 referendum on whether to remain in the European Union.Crude oil prices steadied after plunging more than 1 percent in the wake of Friday's disappointing payrolls figures. Weekly industry data had also shown U.S. drillers added rigs for only the second time this year.U.S. crude futures CLc1 added 0.5 percent to $48.88 per barrel, after logging a 1.1 percent drop for the week, their first weekly decline in four weeks.Brent crude futures LCOc1 added 0.5 percent to $49.89, after they managed to mark their eighth weekly gain in nine weeks.
 Switzerland promised on Monday to work with Indian authorities to tackle tax dodgers who stash money in Swiss bank accounts to avoid Indian taxes.</strongAfter talks in Geneva with Swiss President Johann Schneider-Ammann and round-table discussions with Swiss businessmen, Prime Minister Narendra Modi said the two countries had agreed to make combatting tax evasion and "black money" a shared priority."We discussed the need for an early and expeditious exchange of information to bring to justice the tax offenders. An early start to negotiations on the Agreement on Automatic Exchange of Information would be important in this respect," he said, referring to a portal supported by the Organisation for Economic Co-operation and Development (OECD).Modi promised in his 2014 election campaign to recover billions of dollars sent to tax havens abroad to avoid income tax, now about 30 percent in India.Schneider-Ammann said no figure had been put on the amount of "black money" to be recovered. Talks would begin later this month, he said.Modi said Switzerland had also agreed to support its bid for membership of the Nuclear Suppliers Group (NSG), which it applied to join last month, having won a waiver in 2008 that accorded it the right to trade in commercial nuclear technology.New Delhi's bid for full membership of the 48-nation club, if granted, would tip the balance of power in South Asia against its arch-rival Pakistan, whose own application has been backed by China despite questions over its proliferation record.Modi tacked on Switzerland and Mexico as extra stops on a five-country tour to seek their support on joining the NSG. He left Switzerland for Washington, where U.S. President Barack Obama is expected to offer his backing also.Both Switzerland and Mexico have been viewed as sceptical about India's bid for nuclear legitimacy. They are among countries concerned that India has not signed the nuclear Non-Proliferation Treaty, a step that would require New Delhi to give up its nuclear arsenal.The nuclear club holds its annual meeting later this month.
 US firms feel increasingly unwelcome in China, top American officials said Tuesday, as disagreements overshadowed an annual dialogue in Beijing.</strongThe comments came as a survey of European firms said China�s slowing growth was matched by an "increasingly hostile," business environment.American companies are "questioning whether they are welcome in China", US treasury secretary Jack Lew told a meeting of CEOs on the sidelines of the Strategic and Economic dialogue."Concerns about the business climate have grown in recent years," he added.Top US diplomat John Kerry urged Beijing to "get the barriers out of the way" of companies, adding that the two countries have yet to resolve concerns on intellectual property and clarify "the rules of the road"."As every businessperson at this table knows, certainty, clarity, even-handedness ... and an equal application of the laws to everybody is critical to the confidence of the marketplace," he said.He added that a Chinese law on foreign non-governmental organisations, including universities and professional groups, set to come into force next year would seriously curtail their ability of to work in China.Lew and Kerry made their comments in a meeting with CEOs from US corporations including metals manufacturer Alcoa, which has accused China of dumping aluminium on world markets.The group also included executives from China�s Wanda Group, whose recent overseas buying spree included the purchase of Hollywood studio Legendary earlier this year.China�s vice-premier Wang Yang called on companies to seek "win-win results" while acknowledging that "in a market economy there will always be competition between our businesses".The event came on the second day of the annual dialogue whose opening was marked by pointed exchanges on China�s alleged overproduction of steel.Lew said excess capacity had a "distorting and damaging effect" on world markets, but China�s finance minister replied that the world was merely "pointing a finger" at his country.
 Asian shares hit a five-week high on Tuesday after Federal Reserve Chair Janet Yellen said U.S. interest rate hikes are likely on the way, held back any reference to the timing.</strongMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan's Nikkei average firmed 0.2 percent.The Fed chief said last month's jobs report was "disappointing" and bears watching, though she gave a largely upbeat assessment of the U.S. economic outlook, warning against attaching too much significance to the payrolls data in isolation.In the absence of a timing hint from Yellen some traders took the view that a July rate hike had become less likely."Even though Yellen didn't explicitly say so, it sounds as if a rate hike in June and July, which she was had talked about, is becoming difficult," said Nobuyasu Atago, chief economist at Okasan Securities.Money market futures reduced bets on a July rate hike further, to around 20 percent, from 30 percent following Yellen's comments. They were pricing in about 60 percent chances of a rate hike by July before Friday's weak payrolls data.On the other hand, they continue to price in one rate hike by the end of year.Still, diminishing prospects of the Fed tightening policy anytime soon underpinned share prices.U.S. S&amp;P 500 Index closed up 0.49 percent to 2,109.41, just about one percentage point below record closing high of 2,130.82.World equity markets were higher, and MSCI's all-country world equity index rose 0.53 percent for a third straight gaining session to a six-week high on Monday.The dollar briefly dipped following Yellen's comments, though it pared much of its losses by early Asian trade.The dollar index hit a four-week low of 93.745 before bouncing back to 94.037.The euro eased to $1.1356 after having scaled a four-week high of $1.3930 while the yen also stepped back to 107.545 per dollar from Monday's five-week high of 106.35.The Australian dollar changed hands at $0.7371, below Monday's four-week peak of $0.7392 ahead of the Reserve Bank of Australia's policy decision at 0430 GMT.The central bank is widely expected to keep rates on hold after a rate cut last month.The British pound hovered above Monday's three-week low but with various polls showing support for "Brexit" almost neck-and-neck with "remain" camp, implied volatilities on pound options are soaring.The pound traded at $1.4459, off its low of $1.4352 touched in early Asian trade on Monday. One-month volatility rose above 22 percent, highest level since early 2009.Concerns about "Brexit" are also spilling over to European debt markets.German Bund yield hit a one-year low, coming within sight of a record low of 0.05 percent, while Italian and Spanish debt yields rose on rise in support for anti-establishment political parties.Elsewhere oil prices held firm on crippling attacks on Nigeria's oil industry and fresh draws in U.S. crude stockpiles.Global crude benchmark Brent futures LCOc1 hit a seven-month high of $50.83 per barrel on Monday before easing a tad to $50.44 in early Tuesday.U.S. West Texas Intermediate (WTI) crude CLc1 stood little changed in early Asia at $49.63 per barrel, after having gained 2.2 percent on Monday, its largest gain in three weeks.
 In the Holy month of Ramazan the demand of Dates increases as dates are the most important item of Iftar according to religious perspective.The tradition of breaking fast with Khajoor (dates) is connected to the religious practices in Ramazan as Muslims across the globe prefer to eat dates in Iftari prior to anything else.Wonderfully delicious dates are one of the most popular fruits with a list of essential nutrients vitamins and minerals required for normal growth development and overall well�being.The dates are the most selling item compared to any other fruit in Ramazan and mostly the fruit�sellers offer dates exclusively on their stalls and carts, a dates�seller in local market said.When the body absorbs the nutritional value of the dates the feeling of hunger gets pacified With demand of various varieties of dates the prices also increase according to the quality and supply of the item.Mostly the kinds of dates being sold in Sukkur and Khairpur districts include Arabian dates, Sindhi Aseel, Karblain, Irani, Rabai and others, said Agha Imdad, a dates�seller in Fruit Market.Mostly, people buy Iraqi Basra and Sindhi Aseel due to the taste and affordable price.There are more than 130 varieties of dates produced in Pakistan. Out of these large numbers of varieties dates of Balochistan and Aseel of Sindh are the varieties which are much sought after the world over due to their exotic taste, he said.According to Health experts dates are rich in natural fibres several vitamins minerals natural products contain oil calcium sulphur iron potassium phosphorous manganese copper and magnesium which are advantageous for health.�
 A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.</strongThe Bank said that the global economy should grow at just 2.4 percent this year, the same lethargic pace of 2015 and much slower than the 2.9 percent it predicted in January.It said that the slow growth in advanced economies is holding back developed countries, with world trade and investment both depressed, and called for Prospects for a pickup "remain muted," the Bank said, in a report especially downbeat for countries dependent on commodity exports like oil.It said risks to growth have risen since the beginning of the year, particularly the high level of borrowing by companies in developing countries, which has left them vulnerable to credit crises as growth stagnates.It also includes the rise in doubts that the aggressive monetary easing in developed countries, with negative interest rates in several, is doing the intended job of firing up economic activity."Economic growth remains the most important driver of poverty reduction, and that�s why we�re very concerned that growth is slowing sharply in commodity-exporting developing countries due to depressed commodity prices," said World Bank Group President Jim Yong Kim."This sluggish growth underscores why it�s critically important for countries to pursue policies that will boost economic growth and improve the lives of those living in extreme poverty."The report comes as the main developed country drivers of global growth -- Japan, Europe and the United States -- struggle for traction.A sharp deceleration of the US economy since the beginning of the year is not helping carry the rest of the world, and the World Bank has cut its expectations for the world�s largest economy by 0.8 percentage point to 1.9 percent in 2016.The Euro area will achieve only 1.6 percent growth, and Japan, fighting off deflationary pressures, will manage just 0.5 percent.In all three, the bank said, investment remains soft amid doubts about the efficacy of policies, particularly those of central banks holding interest rates at extraordinarily low levels.China, the other major wheel of growth, will manage to hold onto a 6.7 percent pace, but the Bank sees it slowing further to 6.3 percent by 2018.India too is holding onto a good pace, helped by the cheap prices of key commodities it imports, including oil.But other large emerging economies like Brazil and Russia remain locked in recession, and Nigeria and South Africa are expanding very slowly."Conditions remain markedly challenging for commodity exporters," the Bank said.
 US oil prices finished above $50 a barrel for the first time since July on Tuesday as a tightening supply picture and a weaker dollar further boosted the commodity.</strongUS benchmark West Texas Intermediate for July delivery rose 67 cents to $50.36 a barrel on the New York Mercantile Exchange, capping a rally from the low near $25 a barrel in February.Analysts said ongoing uncertainty about Nigeria�s outlook for petroleum production was strengthening the oil market.Nigeria�s government and military chiefs met governors of oil-producing states after announcing it planned peace talks with militants who have repeatedly attacked pipelines and installations, slashing output.Attacks have cut output to 1.6 million barrels per day, well below the budgeted-for 2.2 million barrels per day, heaping further pressure on an economy badly hit by the global fall in the price of crude since mid-2014.Analysts said oil was also boosted by a dip in the dollar against major currencies after Federal Reserve Chair Janet Yellen on Monday emphasized that interest rate increases would be gradual after Friday�s very weak jobs report. A weak dollar can boost demand for crude, which is sold on global markets in the US currency."A good portion of what we�re seeing during the last couple of days is a reaction to the anticipation the Fed will not change its interest rates and that�s leading to a weaker dollar," said James Williams of WTRG Economics.
 Oil prices remained near 2016 highs in early trading on Thursday, buoyed by a fall in U.S. crude inventories, a weaker dollar and strong demand, but some analysts warned that the recent rally was starting to look overblown.</strongInternational Brent crude oil futures LCOc1 were trading at $52.70 per barrel at 0045 GMT, up 19 cents from their last close.U.S. West Texas Intermediate (WTI) crude CLc1 was 32 cents higher at $51.55 a barrel.Traders said the price rises were largely a result of a drop in U.S. crude oil inventories.Data from the U.S. Energy Information Administration (EIA) showed U.S. crude stocks last week fell by 3.23 million barrels to 532.5 million barrels, marking their third consecutive weekly fall.A weaker dollar, down around 2.4 percent this month against a basket of other currencies, makes dollar-traded fuel imports for countries using other currencies cheaper, also supporting oil prices, traders said.But some analysts said there were also signs that the recent oil price rise, which saw Brent rally 6 percent this month and prices virtually double since February to one-year highs, may be overblown.ANZ bank said that price rises were "tempered by an increase in crude production of 10,000 barrels per day to 8.75 million barrels per day and the number of active rigs increasing by 9 to 325".Traders also warned of an ongoing build in refined product stocks in the United States and Asia.With fundamentals weighing both for and against higher prices, many traders and analysts say that a price tag of $50-60 for a barrel of crude was a fair value for oil, reflected in Brent's forward curve which stays within that range until early 2021.
 The International Monetary Fund on Wednesday welcomed austerity measures by Middle Eastern oil exporters but warned that greater efforts were needed to plug budget deficits resulting from plunging crude prices.</strongThe IMF said the six Gulf Cooperation Council (GCC) countries, along with Algeria, were implementing "ambitious fiscal consolidation measures" but predicted that shortfalls would continue to grow amid cheap oil."An additional substantial deficit reduction effort is required over the medium term to preserve fiscal sustainability," it said in a report.For GCC states -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- further measures are also necessary to protect their currencies� peg to the dollar, it added.The IMF warned policymakers of "emerging signs of liquidity pressures in their financial systems and the risk of deteriorating asset quality."Deep structural reforms are necessary to improve medium-term prospects and facilitate much-needed diversification in order to create jobs for the growing labour force," it said.The value of oil and natural gas exports in the GCC and Algeria is projected to fall by almost $450 billion this year compared to 2014, according to the Fund.It projected unemployment in those countries would rise by 1.3 million by 2021, and that their combined budget shortfalls would hit $900 billion in that time.In 2015 alone, the IMF estimated that GCC countries lost oil revenue worth $300 billion.To balance their budgets, the GCC and Algeria would need to cut current public spending by about a third, it said.Gulf countries have had to look elsewhere for revenue sources, and are introducing new forms of taxation, mainly value-added tax (VAT), in a bid to generate income.After using part of their huge fiscal reserves, estimated at $2.5 trillion, to absorb the oil price shock, most GCC countries have cut spending and have borrowed to meet rising deficits, the IMF said.Although budget shortfalls will hit an average of 13 percent of gross domestic product (GDP) this year, the Fund said that Algeria and GCC members are not currently threatened with recession.Overall government debt is projected to increase from 13 percent of GDP last year to about 45 percent by 2021, it added.
 Overseas Pakistani workers remitted US $ 17841.63 million in the first eleven months (July to May) of FY16, showing a growth of 5.6% compared with US $ 16898.32 million received during the same period in the preceding year.<br/> <br/> During May 2016, the inflow of worker�s remittances amounted to US $ 1799.39 million, which is 8.6% more than April 2016 and 8.2% higher than May 2015.The country wise details for the month of May 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $ 547.77 million, US $ 380.74 million, US $ 202.1 million, US $ 240.58 million, US $ 216.71 million and US $ 41.64 million, respectively, compared with the inflow of US $ 528.35 million, US $ 399.49 million, US $ 221.12 million, US $ 194.17 million, US $ 190.66 million and US $ 28.5 million respectively in May 2015.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May 2016 amounted to US $170 million together as against US $101.03 million received in May 2015.
 India plans to introduce a 25 percent tax on sugar exports to maintain local supplies, the government said on Thursday, a move that could further push up global prices of the sweetener and boost shipments from Thailand.</strongSugar output in India, the world's no. 2 producer behind Brazil, is expected to decline this year due to a drought in major growing regions, while global prices have risen to two-and-a-half year highs.Food minister Ram Vilas Paswan said the levy was aimed at curbing the country's exports and would help keep local prices under control in the world's top consumer of sugar."There is an increasing trend in the price of sugar in the international market. Traders may increase the export of sugar to make profit," Paswan tweeted on Thursday evening.Traders and experts said the new tax could push up global sugar prices, even though India was already expected to become a net importer in the year from Oct. 1 following back-to-back drought years."Since we are the world's second largest sugar producer there could be a 5 percent impact on global prices but not more," said Aurobinda Prasad, vice president research, Kotak Commodities.India exported 2.9 million tonnes of sugar in 2015/16, accounting for 5.3 percent of world exports, according to U.S. Department of Agriculture (USDA) figures.In a May report, the USDA already forecast sharply reduced exports from India this year of just 1 million tonnes, which would be the lowest since the 2009/10 crop year."With rising white sugar prices and the weakening rupee, Indian mills could have signed export deals with Sri Lanka. That won't happen now," said a Singapore-based trader.Global sugar prices have also been buoyed by cold temperatures in parts of Brazil and growing demand."Markets were not expecting exports from India but the move to tax sugar exports will definitely have a temporary impact on global prices," said a Delhi-based sugar industry expert.He said the plan to tax exports is better than the country's previous moves to ban overseas sales.The move would help rival exporters Thailand and Brazil, said a Mumbai-based trader."Thailand will benefit more since it has been competing with India in the white sugar market. It also has freight advantages in catering to Asian consumers," the trader said.
 After surging for three straight days to an 11-month high, oil prices pulled back Thursday as investors booked profits.</strong"Although there is potential for a small decline to develop into a more significant drop, so far this looks like a modest technical correction following three days of gains rather than a major reversal," said Tim Evans of Citi Futures.The US benchmark contract, West Texas Intermediate for July delivery, fell 67 cents to $50.56 a barrel, a day after closing at the highest level since July 2015.In London, Brent North Sea for August delivery, the European benchmark, dropped 56 cents to $51.95 a barrel."A little profit taking here, but there�s still a lot of strength in the market," said Carl Larry of Frost &amp; Sullivan.Larry predicted that prices could reach $55 next week. "Demand is strong," he said, while supplies are starting to look a bit weaker. "We�re beginning to see a little more interest to the upside."Oil prices have almost doubled since hitting their lowest level since 2003 in February, helped by declining US output and production cuts in Nigeria, because of rebel unrest, and in Canada, as wildfires ravaged the oil-producing Alberta region."The existing momentum, the market sentiment, the absence of any bearish news and the still sizeable supply outages suggest that the price rise will continue," Commerzbank analysts said in a research note.They noted that investors shrugged off a 10,000 barrel per day rise last week in US crude oil production, the first increase in 13 weeks.
 Last year, the ITFC closed a $350 million export syndication in favour of Turkey�s export-import bank, and in February it signed a partnership agreement with Morocco�s largest lender by assets, Attijariwafa Bank.The ITFC�s mandate is to promote trade among countries of the 57-member Organisation of Islamic Cooperation (OIC). Trade within the group accounted for 19.5 percent of OIC countries� total trade in 2015, up from around 12 percent in 2011, and the ITFC aims for 26 percent by 2025, Sonbol said.The IDB is the largest shareholder in the ITFC with 37.6 percent of paid-up capital; Saudi Arabia holds second place with 16.9 percent.<br/> Last year, the ITFC�s general assembly approved an increase of Iran�s subscription by 8,500 shares, which once paid would allow it to take third spot behind Saudi Arabia.
 Pakistani stocks closed higher on Monday in a volatile trading session ahead of a much-anticipated MSCI announcement on whether the bourse would be reclassified as an emerging market, analysts said.</strongThe benchmark 100-share index of the Pakistan Stock Exchange finished 0.11 percent higher at 36,979.96.The index clocked in an intraday range of more than 440 points, hitting a low of 36,637.81 in early trading before bouncing back towards the end of the session."Market sentiment remained sombre today, in line with sentiment seen in global equities and commodities ahead of central bank meetings in the US, UK and Japan this week," said Gohar Rasool, head of international sales at Inter Market Securities Pvt Ltd.MSCI is due to announce whether it will be reclassifying Pakistan as an emerging market on Tuesday.The stock exchange was dropped from the MSCI Emerging Markets Index in 2008, but Pakistan has in recent months launched a final push to get back in so it can vastly expand its pool of potential investors.Among index heavyweights that gained on the day were Engro Fertilizers Ltd, MCB Bank Ltd and Fauji Fertilizer Company Ltd.Oil stocks took a hit as international crude oil prices declined.Oil and Gas Development Company Ltd closed down 0.93 percent while Pakistan Oilfields Ltd was down 0.75 percent.Traded volume on the day stood at 104.7 million shares, with traded value at 6.67 billion rupees ($63.83 million).
strong>Fears Britain is on the verge of voting to leave the European Union next week spread through global financial markets on Monday, sending Asian and European shares sharply lower and the pound to an eight-week low.</strongWith the world economy looking shaky, and surprisingly weak jobs figures last month suggesting even the United States is not ready for higher interest rates, concerns over the economic fallout of a Brexit have lurked in the background for weeks.They were at the heart on Monday of the biggest falls for Asian stock markets in four months, and a 1 percent drop in European share prices, after a new poll late on Friday gave the "Leave" camp a 10 point lead.Money markets have now abandoned expectations, high just weeks ago, that the U.S. Federal Reserve could raise official borrowing costs on Wednesday. Instead, the worry is that it could use language that quells expectations of a move this year at all."We're in uncharted territory in front of the Brexit vote, and then there's also the Fed this week. So the wall of worry is quite high at the moment," said Zeg Choudhry, managing director at LONTRAD."All the banks are a little bit lower, and they're the ones which are likely to get hit. For the next two weeks, you've got to be slightly mad if you've not got your money in defensive stocks."The news out of China, global investors' other big concern this year, was also poor, with data showing investment growth cooling. Stock markets in Tokyo, Hong Kong and Shanghai all fell by around 3 percent.By comparison, the moves in Europe, where investors have been preparing for the British vote for months, were more subdued. Britain's FTSE 100 fell 1 percent, Germany's DAX 0.9 percent, and France's CAC 40 by 0.8 percent.On currency markets, sterling fell another half a percent against the dollar after sinking by as much as 3 full cents in value on Friday. The biggest beneficiary of the global moves, however, was the yen, traditionally investors' first choice in times of financial and economic stress.Further gains for the Japanese currency, which broke past long-term resistance around 106.50 yen per dollar and is up 14 percent this year, puts more pressure on the Bank of Japan to act against the currency's strength this week."While the pound is the worst-performing G10 currency versus the dollar this year, the yen is by far the best," said Derek Halpenny, European Head of Global Markets Research at Bank of Tokyo-Mitsubishi in London."The continued surge of the yen will lift expectations that the BOJ may surprise the markets and announce some additional monetary easing."The grim mood was visible on commodities markets, where crude oil futures added to Friday's 3 percent drop after data showed the U.S. oil drilling rig count rose for the second week in row.Gold, another perceived safe haven, hit four-week highs above $1,280 an ounce.
 Taking full advantage of innovations, State Bank of Pakistan (SBP) has introduced SMS service to facilitate people in acquiring new currency notes to celebrate Eid-ul-Fitr.</strongAs part of steps taken to provide citizens with new currency notes, especially with Eid holidays, this facility will be provided through 500 E-branches in 116 cities during Ramazan.According to information, the aspirants of fresh currency notes need to type CNIC number&lt;space&gt;e-branch ID and send it as an SMS to 8877. Charges of sending an SMS to 8877 are Rs. 2 (plus tax).In reply to SMS, the customer will get their redemption code, e-branch address and redemption code validity date. The redemption code will be valid for two working days.Once the aspirants receive the code, they can visit the concerned E-branch along with their original CNIC card, its photocopy and the redemption code received from 8877 to acquire new notes.It may be noted that in order to avoid an abuse of the system, SBP has allotted a quota of new notes which will be granted to each person. This quota consists of two packets of Rs. 10, one packet of Rs.20, one packet of Rs. 50 (subject to availability) and one package of Rs. 100 (subject to availability).Under the SMS service, each CNIC number and mobile phone number can only be used once. No transaction code will be issued to senders if they send same CNIC/smart card number from different mobile numbers or addresses.A help desk has also been established at 111-008-877 to entertain queries/complaints of general public. The help desk can be contacted through NWD code of: 042 for Punjab, 021 for Sindh and Balochistan, 051 for Khyber-Pakhtunkhwa, Azad Kashmir, and Gilgit-Baltistan.The help desk facility will only be available during office hours.It is expected that the start of SMS service will facilitate public in acquiring new currency notes for Eid-ul-Fitr in a timely and hassle-free manner.
 A businessman has been held in Istanbul trying to sell a dagger to Saudi businessmen looted from the palace of former Libyan leader Muammar Qadhafi.</strong�He was trying to sell the dagger, which was made of ivory and garnished with gold, emeralds, diamonds, rubies and sapphires, for $10 million,� Turkish daily Habert�rk reported.The police tracked the businessman, who was a textile exporter from the southeastern province of Mardin, and started an operation after learning he was going to sell the dagger to his Saudi customers in a hotel in the Bak?rk�y district of Istanbul.The businessman, who left Istanbul�s Bah�e?ehir district in one of three luxury cars, was stopped by the anti-smuggling police, who were disguised as traffic police. The cars were trying to reach Bak?rk�y separately from three different roads and the dagger was found in the trunk of one of the cars. The businessman and two others working with him were detained in the operation.Arrested businessman claimed he bought Gadhafi�s dagger from the opposition groups in Libya for $4.6 million.The dagger was later sent to Turkey�s Chamber of Jewelers to prove its authenticity and the chamber concluded that the dagger was original. It was worth at least $2 million, according to the chamber.�Qadhafi�s dagger was seized on the grounds that it was a piece incompatible with CITES and was brought to Turkey illegally,� newspaper reported.
 Pakistani stocks hit a record high Wednesday after US index firm MSCI upgraded the country to "emerging market" status on its influential global equities index for the first time since 2008.</strongThe benchmark Pakistan Stock Exchange gained 1,003 points, or 2.7 percent, to touch a high of 38,520 points by the close of trade."After a long time, Pakistan has been classified as an emerging market and that boosted investor sentiment," Rehan Atiq, the chief operating officer of brokerage house Shajar Capital, said.Pakistan was downgraded to frontier market status in 2008, thanks to a slipping domestic economic outlook and growing insecurity compounded by rising global oil prices hitting the world economy.MSCI�s decision to upgrade its status on the Emerging Markets Index, which guides the allocation of billions of dollars of investments, could attract up to $500 million in foreign investment over the next fiscal year, beginning July 1, 2017, Atiq estimated."The inclusion of Pakistan in the category of �Emerging Market� is an indication of the confidence of the international institutions in Pakistan�s economy," finance minister Ishaq Dar said in a statement.Pakistan has set a 5.5 percent growth target in its GDP in the next fiscal year, compared to 4.7 percent growth in the current fiscal year.The country is also expected to get an injection of $510 million from the International Monetary Fund (IMF) late this month as the second last tranche of a $6.6 billion loan approved in 2013.MSCI courted controversy this week after excluding China�s A shares from the Emerging Markets Index for the third year running, though Beijing brushed off the decision Wednesday.
 Asia�s best-performing stock market this year could be in for an additional boost if MSCI Inc. includes Pakistan in its emerging-market index for the first time since 2008.</strongThe index provider, added frontier-market Pakistan to its list for possible reclassification last year, citing improvements in transparency and liquidity, said a report appeared in the Bloomberg.The report said Prime Minister Nawaz Sharif is seeking to boost economic growth to its fastest pace in more than a decade after achieving stability through an International Monetary Fund loan programme that averted an external payments crisis in 2013.The nation also plans to end an energy crisis in two years with the help of $46 billion of planned Chinese investment.The Karachi Stock Exchange KSE100 Index has gained 15 percent this year, making it the best performer in Asia.The gauge has climbed 4.2 percent this month, compared with a 0.4 percent fall in the MSCI Emerging Markets Index.EFG Hermes said last month an upgrade could lure around $475 million of inflows by mid-2017. Pakistan has a �70 percent chance� of being promoted, according to Tundra Fonder, a fund manager specializing in frontier markets.The country�s benchmark index rallied the most in five weeks before MSCI�s decision due late Tuesday in New York.�Pakistan is moving into acceptance: the nation has what it needs, a decently functional state and decent stability,� said Mattias Martinsson, the Stockholm-based chief investment officer at Tundra Fonder, which holds $200 million of Pakistani equities.�We have a pretty fair chance,� said Farid Ahmed Khan, the Karachi-based chief executive officer at ABL Asset Management Co.Pakistan was downgraded to frontier status in December 2008, four months after the Karachi Stock Exchange imposed a rule that caused near total paralysis of market activity for more than three months.MSCI�s Frontier Markets Index currently features 16 Pakistani companies that make up about 9 percent of the gauge.�Pakistan�s market has been doing so well as valuations are some of the lowest in the region,� said Arthur Kwong, the Hong Kong-based head of Asia-Pacific equities at BNP Paribas Investment Partners, which oversees about 552 billion euros ($623 billion).�Basically people are looking for alternatives, finding markets that are less correlated to the U.S. interest-rate cycle and the China macro slowdown. Pakistan, no doubt, is one of the outstanding spots,� the report said.�
 Pakistani stocks closed higher on Thursday, largely due to continuing positive investor sentiment following MSCI's announcement a day earlier that the bourse was to be included in its emerging markets index, analysts said.</strongThe benchmark 100-share index of the Pakistan Stock Exchange finished 0.50 percent higher at 38,751.60.The index hit an all-time high of 39,039.67 in intraday trade, before retracing some gains prior to the close."Since the MSCI upgrade, Pakistan remains disconnected with its regional and global peers because the event itself is big enough to re-rate the entire index," said Gohar Rasool, head of international sales at Inter Market Securities Pvt Ltd.Large-cap banking stocks, which comprise several of the stocks to be included in the emerging markets index at its next review in May 2017, rallied on the day, said Rasool.Habib Bank Ltd closed at the daily upper limit of rising 5 percent, MCB Bank Ltd rose 4.63 percent and United Bank Ltd gained 2.31 percent.Cement stocks performed well on the day, after a ruling that allowed them to pass on an increase in federal excise duties to consumers, Rasool said.D G Khan Cement Company Ltd rose 3.24 percent, while Maple Leaf Cement Factory Ltd hit the upper circuit breaker of 5 percent.Traded volume stood at 191 million shares, with traded value at 16.15 billion rupees ($154.43 million).
 Federal Minister for Finance Mohammad Ishaq Dar has termed the re-entry of US based index provider Morgan Stanley Capital International (MSCU) in the list of emerging markets as historical and reflective of the right direction of Pakistan�s economy.</strongIt has been a good partnership with International Monetary Fund (IMF) and by end of this month the last review with the fund would be held after which there will be no need of another programme with the fund, he said while addressing participants at an event of Securities and Exchange Commission of Pakistan (SECP) held to mark the inclusion of Pakistan in the list of emerging markets here.Ishaq Dar said the partner with IMF was excellent and he thanked the fund and its team for helping Pakistan in stabilizing its economy.He said Pakistan was excluded from the prestigious list of emerging markets in year 2008 and after three years of hectic efforts and prudent policies of the present government the country has been able to enter the list which is a historic achievement.He said after three years of efforts the government merged three stock exchanges of Karachi Lahore and Islamabad into one stock exchange called Pakistan Stock Exchange.The Minister attributed this success to the hard work of the present government through its prudent policies and good governance which resulted into the marked improvements in various economic indicators including the best performance of stock exchanges.He expressed the hope that inclusion of Pakistan into emerging markets would help attract huge foreign investment in the country and its fruits would trickle down to the masses.He said the entire world has been recognizing Pakistan s economic improvement and its indicators.He said the foreign exchange would be enhanced to US 22 billion in a few weeks by setting a new record.He said to achieve the tax collection target set for FBR was a difficult task but during the last three years the collection had been increased to 60 per cent.�
 Pakistan stocks hit a fresh record closing high on Friday, led by energy and bank shares, with the main index posting its best weekly gain in nearly three years after the country�s stock market was included in MSCI�s key benchmark earlier in the week.</strongThe benchmark 100-share index of the Pakistan Stock Exchange ended 25.34 points, or 0.07 percent higher, at 38,776.94 points, a fresh closing high.It gained 5 percent on the week, its best weekly gain since the first week of July 2013, when it rose 5.6 percent.Pakistan�s benchmark index jumped as much as 3 percent in early trade on Wednesday, climbing to a record high after the country�s stock market was reclassified overnight and included in the MSCI�s emerging market index category.Research firms estimate the MSCI upgrade will result in about $400 million in inflows into Pakistan�s stock market by passive tracker funds alone."In a thinly traded session, the index staged a decent recovery today, after an initial correction of 111.60 points amid thin turnover, partly due to reduced trading hours on account of Friday," Intermarket Securities Ltd said in a statement.There was a significant decline in market participation, with 105 million shares changing hands compared with 192 million on Thursday.Banks were the best performers, rising 12.3 percent on the week, followed by cement sector stocks which gained 6.2 percent.K-Electric and Habib Bank Ltd led the volume charts, with K-Electric closing 0.12 percent higher, while HBL was up 4.76 percent.
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 Crude oil prices rose in early Asian trade for the first time in seven days after a small decline in stockpiles at the U.S. Cushing hub overrode concerns about the impact of Britain's possible exit from the European Union.</strongBrent crude futures LCOc1 were up 25 cents at $47.44 a barrel at 0040 GMT. On Thursday, the contract fell 3.6 percent to $47.19 per barrel.U.S. West Texas Intermediate crude futures CLc1 rose 17 cents at $46.38. The previous session, the contract declined 3.8 percent to $46.21 a barrel.Market intelligence firm Genscape on Thursday reported a weekly decline of 76,317 barrels in stockpiles at the Cushing, Oklahoma delivery point for WTI futures, traders who saw the data said. In the previous week, Genscape reported a drawdown of 299,058 barrels at Cushing.The British pound rose from a two-month low after campaigning for next week's so-called Brexit vote was suspended following the murder on Thursday of a U.K. member of parliament, who was a vocal advocate for Britain to stay in the European Union.Commodities across the board also posted gains, while equity benchmarks including Japan's Nikkei stock average rose.
 "Yes". He added it was possible to be done even sooner but it would depend on other factors, such as global oil prices.Sharif's government has made reducing energy shortages a top priority, embarking on construction of new dams, coal-fire power plants and renewable energy projects.Energy Minister Khawaja Asif said the South Asian nation had last week hit record production generation of 17,350 megawatts (MW), though production shortfalls varied between 1,500MW and 4,700MW through the week.
 Pakistan has the largest Mango cluster in the world sprawling over 370 kilometre which starts from Kabirwala and culminates at Fazilpur, Rahimyar Khan.</strongWe export only 6 per cent of our total production and eat lion�s share of it ourselves.Talking to APP here on Monday Director Mango Research Institute Mushtaq Alvi said that the crop was bumper this year adding that last year no consignment of the country returned due to fruit fly issue.Director mango research Institute said that they had recommended Punjab government to install up to 10 new hot water treatment plants because existing 9 did not serve the purpose in the province.Replying a question Mr Alvi said that Guava was the house to fruit fly as it kept on producing fruit round the year adding that they had advised farmers not to plant guava in mango orchards to refrain from the issue.To another question he informed that when the fruit drops from the tree the farmers should bury it in the soil because 80 pc of fruit fly problem was resolved by adopting this procedure.
 Pakistani stocks are soaring, improved security is fuelling economic growth and the South Asian nation will be upgraded to "emerging market" status by index provider MSCI.</strongBut for Ali Saigol, co-founder of a private equity firm, convincing foreign investors to overlook the country's violent past and bet on its economy remains a hard sell. He said pitches often encountered the same problem: Pakistan's image.After a turbulent decade in which Islamist militants staged frequent gun and bomb attacks on cities, some investors still refuse to visit Pakistan and insist on meeting Saigol in Dubai."Most people have never been to Pakistan. It's a huge problem," said Saigol, sipping a cappuccino in an upscale cafe in Islamabad, Pakistan's leafy, affluent capital."When people visit Pakistan, they see it's actually opposite of what they expect."Saigol's frustration goes to the heart of Pakistan's struggle to attract foreign investment and boost economic growth from 4.7 percent towards above 6 percent, the minimum level experts say is needed to absorb new entrants into the job market in a nation of 190 million people.Pakistan's $250 billion economy is growing at the fastest pace in eight years but only attracted $1 billion in foreign direct investment (FDI) in the nine months to April. FDI inflows into Indonesia, by comparison, hit $29 billion last year.Many businesses in Pakistan have flourished since 2014, when a military offensive against Islamist groups improved security.Violence is down overall, although deadly attacks are not uncommon. In late March, more than 60 mostly women and children were killed by a suicide bomber in Lahore.In major cities, car sales are rising and shopping malls are sprouting to cater for an expanding middle class.A crime crackdown in Karachi, Pakistan's financial hub of 20 million people, has helped spur a real estate boom and new, upmarket seaside restaurants and cafes are overflowing.strong>PERCEPTIONS TAKE TIME TO CHANGE</strongThe progress is in stark contrast to economic instability during the past decade, when the stock market collapsed and Pakistani Taliban militants held territory 100km from Islamabad.The militants have since been contained in small pockets in mountainous areas near the Afghan border and the country's stock market is Asia's best performing index in 2016."Perceptions change with a lag. Our reality has changed, but it takes a little while for investors to realise that," said Miftah Ismail, an adviser to the prime minister tasked with bringing foreign investment into Pakistan.Ismail said he had expected more money to flow from abroad by now, and concedes investors need convincing that Pakistan "will not revert to type" by running large deficits and facing foreign exchange crises.Investors will also have to be convinced that political risks are easing in a nuclear-armed nation surrounded by countries with whom it has unstable relations, including arch-foe India.Yet there are tentative signs foreign companies are eyeing Pakistan's fast-growing consumer market.Carmakers Renault-Nissan are considering a plant in Pakistan, and Suzuki, which already has a presence, said it may invest $460 million for a new factory.A Dutch dairy cooperative, FrieslandCampina International Holding, in March announced plans to buy a stake in Pakistani food giant Engro Foods, in a deal estimated at $460 million.strong>INDICATORS "FLASHING GREEN"</strongOmar Hamid, head of Asia Pacific country risk research for IHS, said interest in Pakistan has soared this year by IHS corporate clients seeking country and political risk analysis."It's a massive consumer market and the economic indicators are flashing green for many international companies," he said.Pakistan's interest rates are at 42-year lows, inflation has been tamed at about 3 percent, the currency is stable and foreign exchange reserves have jumped to all-time highs.The economy is also expected to receive a shot in the arm from the China-Pakistan Economic Corridor (CPEC), a $46 billion roads and energy project.Much of the money is earmarked for power stations to ease chronic electricity shortages which hobble business and investment.Prime Minister Nawaz Sharif's government is so confident about the economy that it plans to end the IMF's $6.7 billion financial assistance programme in September. Analysts say this could prove a risky move if oil prices spike.In Karachi, the business community hopes MSCI's upgrade of Pakistan will herald a return of foreign investors who fled in anger in 2008 when the bourse imposed a floor and trapped them in a collapsing market for three months."What happen in 2008 could never happen again," said Haroon Askari, deputy director of the Pakistan Stock Exchange.Pakistan's main benchmark index has risen more than 500 percent since the start of 2009, but is still considered cheap by some, trading at multiples below other emerging markets due to political and security risks associated with Pakistan.Saigol, founding partner of Baltoro Capital, which manages a new $48.5 million private equity fund, said foreign investors who finally take a serious look at Pakistan are often surprised."They say they have never seen a country or an economy the size of Pakistan with so little coverage, so under the radar."
 Tokyo shares opened higher on Monday as the yen eased with speculation Britain�s upcoming referendum vote this week will result in the country staying in the European Union.</strongPrime Minister David Cameron warned Sunday of damage to Britain�s economy if it quits the EU, as rival camps competed to sway voters in a campaign shaken by the shock murder of lawmaker Jo Cox.Ahead of the Thursday ballot, the two sides resumed an emotional, often acrimonious scramble for votes as the latest polls showed the Remain camp gaining ground after having seen support steadily erode."The fact that (Britain) is leaning more toward staying in the EU is leading to some relief," Nobuyuki Fujimoto, a senior market analyst at SBI Securities, told Bloomberg News."But we�re lacking in catalysts to move shares, and it�s not like the vote has been decided," he added. "Liquidity is low and the market is likely to gyrate."The benchmark Nikkei 225 index at the Tokyo Stock Exchange rose 1.72 percent, or 226.12 points, to 15,878.78 in the first few minutes of trading, while the broader Topix index of all first-section shares gained 1.76 percent, or 21.96 points, to 1,272.79.Japanese stocks slumped last week amid concern about a possible "Brexit" -- or British decision to leave the EU -- and as the Bank of Japan decided to keep monetary policy unchanged.The yen slightly eased to 104.71 yen to the dollar in early morning trade in Tokyo, from 104.19 yen in New York late Friday.The Japanese currency, often seen as a safe haven, had strengthened as concerns grew the "Leave" camp was headed to victory but has pulled back as Brexit momentum appeared to slow.Japan�s finance ministry announced before the opening bell that the country logged a trade deficit of 40.72 billion yen ($389 million) in May, the first shortfall since January.
 The export of jewellery from the country increased by 17.12 per cent during first 11 months (July May) of the current fiscal year compared to the same period of last year.</strongThe jewellery exports increased to 7.182 million in July May of the year 2015 16 from 6.132 million during same period of last year.According to the latest data of Pakistan Bureau of Statistics Gems exports however witnessed a sharp decline of 50.64 per cent which was recorded at 3.695 million in the corresponding period compared to 7.486 million last year.On year on year and month on month basis the jewellery export in May 2016 also surged by 72.85 per cent and 27.5 per cent when compared it with the export of May 2015 and April 2016. The jewellery exports increased from 0.641 million in May 2015 and 0.869 million in April 2016 to 1.108 million in May 2016. Gems exports on month on month basis also witnessed a sharp increase of 96.37 per cent as it went up from 0.248 million in April 2016 to 0.487 million in May 2016. On year on year basis however the gems exports decreased by37.8 per cent as it declined from 0.783 million in May 2015 to 0.487 million in same month of current year.
 Telecom business in Pakistan has shot up yielding big taxes for the government pushing the economy to expand and offering big opportunities to investors says a new report.</strongAccording to Kahleej Times the telecom sector in Pakistan is doing prospering business with revenues of Rs333.2 billion for July March FY 16after travelling a bumpy road a year ago.The report said it was the time when government launched an anti terrorism campaign to cancel millions of suspected SIM cards.Due to loss of millions of these cellular subscribers after BVS Re verification process intense competition and low tariffs and a declining trends in revenues of the telecom sector were observed since last year.The Ministry of Finance and Pakistan Telecommunication Authority (PTA) reported that during the last five years�� FY 11 to FY 15�� the telecom sector has contributed Rs744.6 billion to the national exchequer in the form of various taxes and duties.In the first three quarters�� July March of FY 16�� alone the sector contributed Rs105.9 billion.Reduction in tax rates as well as rationalisation of taxes on telecom sector can result into better sector growth and consequently better collection for the government in the long run PTA and the telecom industry believe.These telecom revenues are a big golden apple in the government�s budget.It yields more cash than several big industries.So I doubt if a major cut is on the cards, an official of the ministry of finance told Khaleej Times.Investment in the telecom sector in its boom period of FY 13 to March FY 16 totalled 4 billion, according to PTA.The period saw the number of cellular subscriber rise to 131.4 million out of an officially estimated population of 180 million�� and it is still rising.At the end of March 2016 the number of 3G and 4G LTE subscribers was27.87 million�� up from 13.49 million as of June 2015. It indicates that the subscribers have been added by more than one million a year.The broadband subscriber base showed a strong growth.At the end of March 2016 their number stood at 30.99 million up from 16.89 million as on June 30 FY 15. Most of the broadband subscribers belong to mobile broadband launched in June 2014. The number collectively forms almost 90 per cent of the total broadband subscribers as at now.
 Switzerland's watch industry exports fell nearly 10 percent in May as watchmakers continued to struggle with the aftermath of last year's extremist attacks in Europe and a prolonged slowdown in Asia.</strongExports of timepieces fell 9.7 percent on a nominal basis to 1.55 billion Swiss francs ($1.61 billion), according to data released by the Swiss customs office on Tuesday.The fall followed declines of 11.1 percent in April and 16.1 percent in March. Overall this year Swiss watch exports, which are seen as a proxy for sales, have fallen by 9.5 percent.Particularly badly hit have been China and Hong Kong, two of the world's largest markets for luxury watches which are made by companies like Swatch (UHR.S), Richemont (CFR.S) and LVMH Moet Hennessy Louis Vuitton (LVMH.PA).Europe has also been struggling, with reduced tourism numbers in the wake of Islamist attacks last year reducing the number of visitors to important luxury shopping destinations like Paris.Exports to France fell 18.4 percent in May, according to figures from the Federation of the Swiss Watch Industry.In response, watchmakers have been cutting costs and production as the industry faces its biggest slowdown since 2009 when the global financial crisis reduced demand for luxury watches.Last month, Geneva-based Richemont said it expected business to remain tough in the months ahead, as it reported a 1 percent fall in its constant sales for the 12 months ended March 31.The owner of Cartier and IWC brands said April had been particularly difficult with sales down 15 percent in the month when currency swings were removed.Difficulties in Richemont's watches business were exacerbated by inventories at retailers, which forced the company to buy back unsold watches.No further job cuts were planned on top of the 500 cut last year, but more stores could close in China, Richemont said last month.
 The International Monetary Fund said on Wednesday the US economy was "overall in good shape", with growth set to accelerate from recent setbacks despite an overvalued dollar, but the Fund warned that too many Americans were living in poverty.</strongThe IMF expects US growth to be 2.2 percent in 2016 and 2.5 percent in 2017, with inflation rising slowly toward the Federal Reserve's goal of two percent, it said in a statement at the conclusion of its annual review of US economic policies."At today's level of the real effective exchange rate, the current account deficit is expected to rise above 4 percent of GDP by 2020, pointing to the US dollar being overvalued by 10-20 percent," the IMF said in its report.The IMF said among the biggest risks to future US growth were another downdraft in global demand, declining participation in the labor force as the population ages, and too many Americans living in poverty, about one in seven people and one of every three households headed by a female.It urged US policymakers to take steps to increase labor force participation, including improving child-care and other family-friendly benefits to draw more women into the workforce, pursuing immigration reforms and reworking the disability insurance program to allow for part-time work.It also called for the United States to raise the federal minimum wage while at the same time providing a more generous earned-income tax credit, and improving early childhood education.
 The World Bank has approved financing worth $1.02 billion using three different financing instruments to support the deepening of Pakistan�s economic reforms and to strengthen the capacity of Sindh province to deal with natural disasters.</strongThe Competitiveness and Growth Development Policy Financing (CGDPF) would support the Government of Pakistan�s efforts to encourage economic growth and investment for reducing poverty and building shared prosperity,� Illango Patchamuthu, World Bank�s Country Director for Pakistan, said in a statement here Wednesday.Illango Patchamuthu,�The Government of Pakistan has made significant progress in stabilizing the economy, initiating reforms for revenue mobilization and drawing in the private sector for spurring growth.�He said it was now stepping up efforts through deeper reforms and an accelerated pace of implementation. This would improve the competitiveness of the economy, which in turn would create more and better jobs, lifting millions out of poverty.The CGDPF, he said, would provide $920 million in budget support to improve the business environment and strengthen fiscal management.The financing combines a credit of $500 million and a World Bank guarantee of $420 million, he added.�The operation will support reforms that contribute towards accelerating growth and fostering an inclusive growth pattern�, said Enrique Blanco Armas, Task Team Leader of the Project.�Reforms supported will improve the business environment and contribute to the development of the financial sector and reforms of state owned enterprises. The operation also supports efforts for improved fiscal management through increased revenues, better coordination of debt management and making public spending more pro-poor�.The World Bank guarantee is an innovative instrument that will support Pakistan�s access to international markets to meet its budgetary financing needs.The World Bank will guarantee up to $420 million of financing to be raised by Pakistan, improving the terms under which the Government of Pakistan accesses international financing, and freeing domestic resources for private sector investment.Sindh Resilience Project (SRP) of $100 aims to reduce flood and drought risks in selected areas of Sindh and to strengthen the province�s capacity to manage natural disasters.�The project would contribute to reduction in vulnerability and risk in Sindh through a combination of physical works, strengthening fiscal resilience, and institutional development activities,� says Haris Khan, Task Team Leader of the project.An estimated 5 million people, including both urban and rural populations, will be directly protected from frequent river flooding events.In addition, an estimated 65,000 people who are currently exposed to drought and food insecurity, will also be directly benefitting from the construction of small dams for rain water harvesting and recharging of groundwater aquifers.The CGDPF�s Development Policy Credit will be financed from the International Development Association (IDA), the World Bank�s grant and low interest arm.The credit will be on standard IDA terms, with a maturity of 25 years, including a grace period of 5 years.The SRP will have a maturity of 24 years, including a grace period of 5 years.
 Minister for Finance Ishaq Dar has expressed the confidence that Pakistan's foreign exchange reserves would cross twenty-two billion dollars by the end of this month.</strongHe was speaking at MOU signing ceremony between Pakistan and the World Bank in Islamabad on Thursday.The MOU was signed by Secretary Economic Affairs Division Tariq Bajwa and World Bank Representative Anthony Cholst.Under the MOU, the World Bank will provide five hundred million dollars to Pakistan which also include four hundred and twenty million dollars guarantee.The Bank support is to assist Pakistan in carrying out the critical economic structural reforms initiated by the present Government to accelerate and reinvigorate inclusive growth in Pakistan.Finance Minister said World Bank's assistance will pave the way for enhancing investment in the country. He said it will increase the value of Pakistani rupees.World Bank representative Anthony Cholst said the Bank will continue economic cooperation with Pakistan.He appreciated the Government for stabilizing the economy of the country.
 State Bank of Pakistan has issued guidelines on prevention against cyber attacks. Through these guidelines, the SBP has advised banks/MFBs/DFIS to continuously improve their cyber security controls and procedures so as to anticipate, withstand, detect, and respond to cyber attacks.</strongSBP�s cyber security instructions provide guidelines in the areas of risk ownership and management responsibility; periodic evaluation and monitoring of cyber security controls; regular independent assessment and tests, and industry collaboration and contingency planning.The new instructions require the Board of Directors (BoD) of the institutions to regularly evaluate the adequacy of cyber security systems and action plans with regard to emerging cyber threats. The senior management is required to ensure that an organizational plan of action for cyber security management exists in each institution and is regularly reviewed and updated for implementation.It may be noted here that cyber threats have become a global phenomenon and are continually growing in sophistication and impact, despite the advances in cyber-security technologies and practices.SBP has always proactively strived to provide an enabling regulatory framework in order to cope with new threats. While the new technologies and their application in banking system has created new opportunities for the efficient and cost-effective delivery of services, these have also posed a number of new threats and risks.The banks/DFIs/MFBs are required to make necessary arrangements to comply with the instructions latest by December 31, 2016.
 "In the event of there being a vote to leave, we would be primarily focussed on strategic national Irish interests across a range of issues, primarily economic and trade, so we have prepared a plan across a range of departments."</strongAround 1.2 billion euros ($1.35 billion) of goods and services are traded between the United Kingdom and Ireland each week with Irish farmers and food producers, major UK suppliers, particularly vulnerable.Flanagan, serving a second term as foreign minister after his Fine Gael party returned to office last month, also predicted any withdrawal negotiations could take much longer than the two-year period laid down in EU law.Of most concern to Ireland during such a process would be the impact on Northern Ireland, which has the only land frontier between the United Kingdom and the rest of the EU.While pro-Brexit campaigners say a vote to leave would not endanger a common travel area that predates both countries' entry into the EU in 1973, Flanagan said he could not see why the reintroduction of a hard border would not be considered.Given the prominence of immigration as a campaign issue, he said, it would seem logical that Britain would be inclined to take some action if it was outside the EU. In that case, Dublin was concerned that the negotiation on a form of border would be done at EU level and therefore not entirely under its control.The fear for many is that any new border restrictions could endanger an 18-year-old peace agreement between Catholic Irish nationalists seeking a united Ireland and their Protestant rivals who want to keep Northern Ireland British."At best, I would point to a period of uncertainty that would affect the great progress that has been made (in Northern Ireland) in recent years," Flanagan said in his office in Dublin's government buildings."And in terms of the peace process, any re-introduction of border controls, either in terms of custom controls for trade or in terms of security, that could well pose us with a difficult challenge."
 A memorandum of Understanding has been signed between Balochistan government and a Kuwaiti Investor Company "Ener Tech" in Quetta.</strongProvincial Energy Secretary Khaleeq Nazeer Kyani and Chief Executive of the Company Abdullah Almatari signed the memorandum, Radio Pakistan reported on Thursday.The Ener Tech will install from 50 MWs to 500 MWs solar power generation plants under a phase wise program.Meanwhile, a delegation of Ener Tech led by its Chief Executive Abdullah Almatari called on the Chief Minister Nawab Sanaullah Khan Zehri in Quetta.During the meeting, the two sides discussed matters of bilateral interest. Talking on the occasion, Nawab Sanaullah Khan Zehri said that the government wants promotion of foreign investment in various sectors including Solar Energy sector and for this purpose, a comprehensive policy has been chalked out to provide maximum facilities to foreign investors.Ener Tech chief executive, Abdullah Almatari said that the there are vast prospects of making investment in energy, Live stocks and various sectors in Balochistan and Ener Tech wants t make investment in these sectors.
 Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money poured into safe-haven gold and government bonds. Sterling suffered a record plunge.</strongThe blow to investor confidence and the uncertainty the vote has sparked could keep the Federal Reserve from raising interest rates as planned this year, and even spark a new round of emergency policy easing from major central banks.The traditional safe-harbor assets of top-rated government debt, the Japanese yen and gold all jumped. Spot gold rose more than 5 percent and the yield on the benchmark 10-year U.S. Treasury note fell to lows last seen in 2012 at 1.5445 percent.Stocks tumbled in Europe. London's FTSE dropped 2.4 percent while Frankfurt and Paris each fell 6 percent to 8 percent. Italian and Spanish markets, and European bank stocks overall, were headed for their sharpest one-day drops ever.Worries that other EU states could hold their own referendums were compounded by the fact that markets had rallied on Thursday, seemingly convinced the UK would vote to stay in.Britain's big banks took a $100 billion battering, with Lloyds, Barclays and RBS plunging as much as 30 percent.Stocks on Wall Street opened more than 2 percent lower but cut losses after about an hour of trading. The Dow Jones industrial average fell 340.24 points, or 1.89 percent, at 17,670.83, the S&amp;P 500 lost 42.11 points, or 1.99 percent, at 2,071.21 and the Nasdaq Composite dropped 116.74 points, or 2.38 percent, at 4,793.31.MSCI's all-country world stock index fell 3.5 percent.Having campaigned to keep the country in the EU, British Prime Minister David Cameron announced he would step down.Results showed a 51.9/48.1 percent split for leaving, setting the UK on an uncertain path and dealing the largest setback to European efforts to forge greater unity since World War Two.More angst came as Scotland's first minister said the option of another vote for her country to split from the UK - rejected by Scottish voters two years ago - was now firmly on the table.The British pound dived by 18 U.S. cents at one point, easily the biggest fall in living memory, to its lowest since 1985. The euro, in turn, slid 3 percent to $1.1050 as investors feared for its very future.Sterling was last down 7.8 percent at $1.3719, having carved out a range of $1.3228 to $1.5022. The fall was even larger than during the global financial crisis and the currency was moving two or three cents in the blink of an eye."It's an extraordinary move for financial markets and also for democracy," said co-head of portfolio investments of London-based currency specialist Millennium Global Richard Benson."The market is pricing interest rate cuts from the big central banks and we assume there will be a global liquidity add from them," he added.That message was being broadcast loud and clear. The Bank of England, European Central Bank and the People's Bank of China all said they were ready to provide liquidity if needed to ensure global market stability.strong>SHOCKWAVES</strongThe shockwaves affected all asset classes and regions.The safe-haven yen jumped 3.6 percent to 102.29 per dollar, having been as low as 106.81. The dollar's peak decline of 4 percent was the largest since 1998.That prompted warnings from Japanese officials that excessive forex moves were undesirable. Traders said they were wary of being caught with exposed positions if the global central banks chose to step in to calm the volatility.Emerging market currencies across Asia and eastern Europe and South Africa's rand all buckled on fears that investors could pull out. Poland saw its zloty slump 4 percent.Europe's natural safety play, the 10-year German government bond, surged to send its yields tumbling back into negative territory and a new record low.MSCI's broadest index of Asia-Pacific shares outside Japan slid almost 5 percent, Tokyo's Nikkei saw its worst fall since 2011, down 7.9 percent.Financial markets have been gripped for months by worries about what a British exit from the EU would mean for Europe's stability."Obviously, there will be a large spill-over effects across all global economies ... Not only will the UK go into recession, Europe will follow suit," predicted Matt Sherwood, head of investment strategy at fund manager Perpetual in Sydney.strong>BOND RALLY</strongInvestors stampeded into low-risk sovereign bonds, with U.S. 10-year notes gained two full points in price to yield 1.521 percent. Earlier, the yield dipped to 1.406 percent, only slightly higher than a record low 1.38 percent reached in July 2012.�Right now it�s 'every man for himself' safety buying," said Tom Tucci, head of Treasuries trading at CIBC in New York.The rally even extended to UK bonds, despite a warning from ratings agency Standard &amp; Poor's that it was likely to downgrade Britain's triple-A credit rating if it left the EU. Yields on benchmark 10-year gilts fell 27 basis points to 1.0092 pct.Across the Atlantic, investors were pricing in less chance of another hike in U.S. interest rates given the Federal Reserve had cited a British exit from the EU as one reason to be cautious on tightening."A July (hike) is definitely off the table," said Mike Baele, managing director with the private client reserve group at U.S. Bank in Portland, Oregon.Fed funds futures were even toying with the chance that the next move could be a cut in U.S. rates.Oil prices slumped by more than 4 percent amid fears of a broader economic slowdown that could reduce demand. U.S. crude shed $2.12 to $47.99 a barrel while Brent fell as much as 6 percent to $47.83 before clawing back to $48.60.Industrial metal copper sank 3 percent but gold galloped more than 6 percent higher thanks to its perceived safe haven status.
strong>International Monetary Fund Managing Director Christine Lagarde on Friday urged British and European authorities to work towards a smooth transition implementing Britons' vote to leave the European Union.</strong"We take note of the decision by the people of the United Kingdom," Lagarde said in a statement. "We urge the authorities in the U.K. and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the U.K. and the EU, including by clarifying the procedures and broad objectives that will guide the process.""We strongly support commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility. We will continue to monitor developments closely and stand ready to support our members as needed." Lagarde added.
 The pound collapsed to a 31-year low and there was pandemonium on currency, equity and oil markets Friday as Britain voted to leave the European Union, fuelling a wave of global uncertainty.Sterling crashed 10 percent to $1.3229 at one point, its weakest level since 1985, while the greenback itself slumped below 100 yen for the first time in two-and-a-half years as traders fled to safety.In the weeks leading up to Thursday�s historic vote, there had been widespread warnings that a "Brexit" would cause a rout across global markets that would wipe trillions off valuations, just months after a painful China-fuelled sell-off.The doomsday scenario appeared to be playing out as markets suffered one of their worst days since the 2008 financial crisis after final results confirmed one of the EU�s big three economies would leave the bloc after four decades.Fears are also growing that other EU members will push for referendums, posing the biggest threat to the future of grouping since its inception almost 60 years ago.The pound had earlier topped $1.50 following predictions the "remain" group would win, but as the Brexit camp posted early victories around the country, traders stampeded to put in sell orders. In Asian afternoon trade it was at $1.3387."Leave�s victory has delivered one of the biggest market shocks of all time," said Joe Rundle, head of trading at ETX Capital. "The reverberations of the vote will be felt around the world."The extent of the damage on asset prices is hard to gauge but it�s likely to be bigger than anything since Lehmans at the very least," he added, referring to the Wall Street bank whose collapsed precipitated the global financial crisis.The dollar slumped briefly to 99.02 yen, the first time it has gone below 100 yen since November 2013, before edging back up above 101 yen. The Japanese unit is considered a safe bet in times of uncertainty and turmoil.The Bank of Japan said Friday it was ready to work with other central banks to pump cash into financial markets to combat wild swings, while the Bank of England said it would take "all necessary steps" to avert a full-blown crisis.Earlier Japan�s Finance Minister Taro Aso vowed a "firm response" to volatility if necessary. 
 Pakistani shares fell 2 percent in early trading on Friday, hurt by a global sell-off in risk assets after Britain voted to leave the European Union.</strongAt 1017 local time (0517GMT), the benchmark 100-share index of the Pakistan Stock Exchange traded 1.96 percent lower at 37,484.18 points."It�s due to Brexit. It�s the volatility in global markets," said Saad Hashmey, chief economist and director of research for Topline Securities.Traders said banking and oil stocks were leading the decline.Southeast Asian stock markets plunged on Friday as investors went on a selling spree after Britons voted to leave the European Union.World financial markets dived as nearly complete results showed a 51.7/48.3 percent split for leaving the 28-member bloc.Sterling suffered its biggest one-day fall of more than 9 percent against the dollar, hitting its lowest level in three decades on market fears the decision will hit investment in the world�s fifth largest economy.Commodity markets slumped as well, with oil prices falling more than 4 percent in Asian trading."We think UK�s EU exit will generate large volatility in the market given most market participants were betting on a Bremain scenario," said Taye Shim, a strategist with Daewoo Securities in Indonesia."Today�s movement is a clear evidence that markets hate unpredictable uncertainties."Singapore shares were heading for their biggest percentage loss in more than four months, while Vietnam �fell over 3 percent.In the city state, most sectors dropped over 1 percent with oil and gas stocks leading the losses.Vietnam shares fell, led by energy stocks including Petrovietnam Gas Joint Stock Corp, while the Philippine market fell nearly 2 percent, after hitting a 13-month high in early trading.Malaysian stocks hit a one-week low, weighed down by consumer cyclicals, while Thai shares slid nearly 3 percent as the energy sector took a hit.Indonesia fell over 2 percent with consumer cyclicals leading the losses."Although we see limited direct impact of UK�s EU exit on Indonesia, we believe the spillover will place negative repercussions on risky assets including Indonesia," said Taye Shim of Daewoo Securities.Asian stocks were down with MSCI�s broadest index of Asia-Pacific shares outside Japan down 5.1 percent.
 The pound dived in early Asian trading Friday, tumbling from 2016 highs as initial results of Britain�s EU membership vote suggested the race was much closer than expected.</strongSterling dived to just below $1.43 from above $1.50 -- its highest this year -- while it dropped to 79.17 pence to the euro, from around 76 pence earlier Friday.
 Panama is preparing to officially open its canal this weekend to far bigger cargo ships after nearly a decade of expansion work aimed at boosting transit revenues and global trade.On Sunday, a VIP ceremony will be held on the banks of the canal to inaugurate the completion of the works.President Juan Carlos Varela will unveil the new locks and third shipping lane built into the 102-year-old canal. Foreign dignitaries, including the presidents of Taiwan, Chile, and other Central American nations, will be present at the ceremony.A Chinese-owned Neopanamax-class cargo ship will be the first vessel to officially test the new infrastructure, entering from the Atlantic and exiting into the Pacific a few hours later.The Neopanamax vessels are much bigger than the Panamax-class ships that previously were the largest able to pass through the 80-kilometer (50-mile) long canal. Each is able to haul three times as much cargo as the smaller predecessors.The expansion work began in 2007 and was meant to have been completed in 2014, but it ran well past deadline, and over budget.The expansion is estimated to have cost $5.5 billion. But there are outstanding disputes between the Spanish- and Italian-led consortium that carried out the work and the Panamanian government that could hike that figure by hundreds of millions more.<br/> <br/> For Panama, the unveiling of the broader canal is a moment of pride and of opportunity.Now, ships as long as the Eiffel Tower is tall, and as broad as Olympic-sized swimming pools, will be able to use the canal.Annual cargo volumes should double over the next decade, leading Panama to hope to triple the $1 billion in shipping fees it receives each year.Also, with the country these days linked to the "Panama Papers" scandal of offshore businesses owned by the world�s wealthy and influential, the expanded canal is seen as a chance to burnish the country�s tarnished image.This will show the "real face of Panama," the head of the Panama Canal Authority, Jorge Quijano told AFP in an interview this week.World trade should also benefit from what will essentially be an inter-oceanic highway for goods between the United States and Asia. More cargo on bigger ships should mean lower transport costs.Panama is also avidly eying the lucrative market of transporting liquefied natural gas between the United States and Asia, principally to Japan.The ships carrying the gas were too big to use the old canal. With the expansion, they now can."The inauguration of the expanded Panama Canal means new opportunities for international trade," Panama�s president said.Currently some five percent of global maritime commercial traffic uses the canal, which provides a valuable shortcut between North America and Asia.
 The government has set a target of domestic production of 43.8 million barrels of crude oil and 1.51 trillion cubic feet gas for the next fiscal year.</strong>����The demand and supply gap in both oil and gas sectors will be filled through import of petroleum products, Radio Pakistan reported officials as saying.The indigenous gas supply will be supplemented through LNG imports to the tune of 4.5 million tones. They said the annual production of crude oil stood at 32.03 million barrels in the outgoing fiscal year.The officials said a total of one hundred and sixteen oil and gas wells will be drilled by the exploration and production companies in the next fiscal year to enhance the domestic oil and gas production.Giving details of the projects of Sui Northern and Sui Southern Gas Company Limited, the officials said the two companies plan to add over four hundred thousand new consumers to their systems.In addition, the gas companies have also plans to lay down about six thousand kilometer of new transmission pipelines in their networks.
 US stocks dived Friday after Britain�s surprise vote to leave the European Union, joining a global equity rout amid rising uncertainty about the future of Europe.</strongThe Dow Jones Industrial Average slumped 3.4 percent to 17,400.75. The 610-point drop was the index�s biggest single-day point loss in nearly five years.The broad-based S&amp;P 500 plunged 3.6 percent to 2,037.30, while the tech-rich Nasdaq Composite Index sank 4.1 percent to 4,707.98.Although the losses were broad-based in the US, sectors that were especially hard-hit included banking, energy, travel and industrials.The unexpected British decision also reverberated through other financial markets, slamming the British pound and boosting gold.Economists expect weaker global growth, and especially a slowdown in Europe, and a higher risk of recession in Britain. Analysts also expect a hit to the US economy, although not as great as in Europe."This was really an event that caught most global investors flat-footed," said Jack Ablin, chief investment officer of BMO Private Bank."We�re going to see more days like today as the collective wisdom may prove wrong in others cases, too."Among large banks, Citigroup plunged 9.4 percent and Morgan Stanley 10.2 percent. Bank of America, JPMorgan Chase and Goldman Sachs all lost 7.0 percent or more.Large US banks have made London their European headquarters and are expected to face costs associated with retooling their operations.Gold producers were a rare bright spot as investors flocked to the traditional haven of the gold metal, pushing prices sharply higher. Barrick Gold jumped 5.8 percent, Newmont Mining 5.1 percent and Goldcorp 4.4 percent.Travel, airline and hotel stocks sank, with American Airlines plummeting 10.8 percent, Priceline 11.4 percent and Marriott International 7.3 percent. Analysts worry that travel could be curtailed due to the political and economic uncertainty surrounding Britain and the EU.Technology shares suffered, with especially ugly falls for Cisco Systems, down 5.0 percent; eBay, 6.9 percent; and NXP Semiconductors, 8.3 percent. Apple fell 2.8 percent and Microsoft 4.0 percent.Petroleum-linked shares tumbled on lower oil prices, with Halliburton losing 4.2 percent, ConocoPhillips 5.4 percent and Apache 5.7 percent.
 British financial markets were engulfed in further turmoil on Monday, with 10-year government borrowing costs sinking below 1 percent for the first time and sterling hitting a 31-year low against the dollar as investors bet Britain's vote to leave the EU will trigger a Bank of England rate cut.</strongBillions of pounds were wiped off the value of British bank stocks as a political vacuum and economic uncertainty opened up by Thursday's referendum prompted widespread downward revisions to the outlook for UK growth, sterling and interest rates.Sterling fell as low as $1.3122 , a decline of almost 4 percent to its lowest since September 1985, and bond yields chalked up their biggest two-day fall since the BoE started its quantitative easing bond buying binge in March 2009.The market value of Barclays and Royal Bank of Scotland is down by a third in just two days, meaning the UK taxpayer has lost 8 billion pounds since Thursday via the Treasury's 72 percent stake in RBS."The UK economy is headed for recession," analysts at Llewelyn Consulting said on Monday."Potential output has been cut at a stroke (and) the country's large twin deficits leave it exposed to capital flight. Only the Bank of England remains fully functional. It has the tools to ensure financial solvency, but not economic activity," they said.Finance minister George Osborne said on Monday the economy would have to face up to "an adjustment" as it dealt with the fallout of 'Brexit'. But investors again shunned the pound and sought the safety of government bonds.UK money and bond markets moved to price in lower interest rates, with swaps rates now almost fully implying a 0.25 percentage-point cut from the BoE by the end of the year.The yield on 10-year UK government bonds tumbled as much as 15 basis points to a new low of 0.933 percent, and two-year yields fell more than 10 basis points to a four-year low of 0.129 percent.The 10-year yield has fallen 44 basis points since Thursday, its biggest two-day fall since March 2009."You'd have expected there to be some psychological barrier to gilts breaking through 1 percent, but not today," said Luke Hickmore, senior investment manager at Aberdeen Asset Management."Gilt yields just kept dropping. It's no wonder. There's no political leadership in the UK right when markets need the reassurance of direction," he said.Sterling fell almost 4 percent against the dollar to a fresh 31-year low of $1.3122 , and the euro rose almost 3 percent to 83.64 pence, its highest in more than two years.The pound's fall on Friday was the largest in modern history, reaching more than 10 percent against the dollar at one stage, and was also the largest decline since at least the 1970s on a trade-weighted basis.RBC Capital Markets now expect the BoE to cut rates by 25 basis points next month to 0.25 percent, and again in August down to 0.1 percent along with an additional 50 billion pounds of quantitative easing bond-buying stimulus. Several banks, including Goldman Sachs and Bank of America Merrill Lynch, cut their sterling forecasts too."With the Leave vote creating greater uncertainty over the outlook for the economy and BoE policies biased towards further easing/renewed QE, sterling is vulnerable to further near-term selling pressure," said Athanasios Vamvakidis, FX strategist at BAML."A push below $1.30 cannot be ruled out," he added.Others, like Unicredit, reckon the pound will fall even further, perhaps to $1.20 or even lower.
 Artificial jewellery stalls in different varities set up in various markets of twin cities of Islamabad and Rawalpindi ahead of Eid-ul-Fitr which attracts a large number of womenfolk.</strongThese stalls offering sale on bangles.rings,bracelets and many other things that are the main interest of womenfolk. Soon, after iftari huge rush had witnessed in markets for Eid shopping.Bazaar were decorated with colourful lights which attracts people of twin cities.G-9 Markaz,Supermarket, Jinnah Supermarket, Saddar, Commercial Market are bangle hubs in Federal Capital and Rawalpindi.The shopkeepers expect the sale will go further up a week before Eid. �It is three days before Eid when our sale of bangles will be at the highest point,� Fayyaz Khan a stallholder at Jinnah Super, said.�Price of a dozen of bangles ranges from Rs 100 to Rs 300, depending on their quality and style.Kanwal Sohaib, a student said, �Eid shopping is incomplete without buying bangles and applying mehndi.�Sameen Khan, a student of Fatima Jinnah University said that handmade bangles have become popular but are costly compared steel bangles which last longer.According to a stall holder at Karachi Company rubber bangles along with artificial gold bangles is in great demand this year.When contacted to Islamabad Capital Territory (ICT) an official said �Security measures had been taken to facilitate the buyers in safe and secure manner in various markets.�
 Tokyo stocks rebounded Monday from a rout that saw Britain�s decision to leave the European Union wipe more than $2 trillion off global financial markets.</strongThe benchmark Nikkei 225 index, which dived nearly eight percent on Friday, was up 1.34 percent, or 201.06 points, at 15,153.08 in early trading.The Topix index of all first-section shares rose 1.01 percent, or 12.22 points, to 1,216.70 at the start.
 The State Bank of Pakistan will remain closed for public dealings on July 1, 2016 (Friday) which will be observed as Bank Holiday.All banks, Development Finance Institutions (DFIs); Micro Finance Banks (MFBs) shall, therefore, remain closed for public dealings on the aforesaid date.However, all employees of the banks / DFIs / MFBs will attend the office as usual.
 The International Monetary Fund has praised commitment of Pakistan�s government to strengthen country�s fiscal position saying the economic recovery and macroeconomic stability has further receded short term vulnerabilities.</strongIn a statement issued after the meeting of the Executive Board in Washington IMF�s Deputy Managing Director Mitsuhiro Furusawa emphasized the need of preserving and consolidating macroeconomic stability and further advancing key structural reforms.The economic recovery had gradually strengthened and short term vulnerabilities had further receded on the back of improved macroeconomic stability and progress on structural reforms, the IMF Director said.He praised the government for its commitment to the fiscal consolidation saying the authorities are on track to achieve their program s end year fiscal targets and their commitment to continue with gradual fiscal consolidation in FY2016 17 is welcomed.The Executive Board approved the immediate disbursement of about 501 million after completion of the 11th review of Pakistan s economic performance under a three year program supported by an Extended Fund Facility arrangement.With the release of the fresh tranche the total disbursement stood at about 6.01 billion.Praising steps for fiscal consolidation Mr. Furusawa said the amendments to the Fiscal Responsibility and Debt Limitation Act would strengthen the anchor for medium term fiscal policy supporting fiscal sustainability and medium term macroeconomic stability.Furthermore he said the new framework for Public Private Partnerships would foster much needed growth supporting investments and help manage associated fiscal risks.He emphasized on sustaining progress with tax administration reforms to widen the tax base which he said was needed to increase tax revenues and create needed fiscal space for priority infrastructure and to reinforce social expenditures.The IMF Director also noted rising foreign exchange reserves and said it would further bolster external buffers and reduce vulnerabilities.He also emphasized the need of maintaining a prudent monetary policy stance to preserve the achievements in containing inflation and to support macroeconomic stability.He welcomed expansion of the coverage of tax crimes and said it would contribute to improve tax compliance and governance.Continued progress with structural reforms is needed to raise Pakistan�s growth potential.Restructuring and privatizing loss making public sector enterprises (PSEs) remain a priority to ensure their financial viability reduce fiscal costs and strengthen the efficiency of the economy he added.The IMF official welcomed the decision of the government to contain the accumulation of power sector arrears and said that efforts to complete the energy sector reforms should remain a priority.The commitment of the government to move forward with the implementation of the new business climate reform strategy will be a key to boost competitiveness and foster investment and private sector led growth he concluded.
 The pound rose in Asia Tuesday after hitting a new 31-year low in New York on worries about the effects of Britain�s exit from the European Union, but analysts warned it could face fresh selling as the crisis develops.Prime Minister David Cameron and Finance Minister George Osborne sought to send a message of reassurance to markets on Monday but that was unable to stop agencies Standard &amp; Poor�s and Fitch stripping the country of its triple-A rating.In afternoon trade Tuesday sterling bought $1.3315 in Tokyo, up from $1.3228 in New York, where it at one point sank to $1.3121, its lowest level since September 1985.Takashi Miwa, chief economist at Nomura Securities, said that investors "could expect a slight rebound" in the currency "in the short run" as a liquidity shortage had apparently been avoided in the aftermath of Thursday�s shock exit vote. <br/> But over the longer run, the unit could still have room to fall -- possibly to $1.25 -- if the Bank of England eases monetary policy in response to the turmoil, Miwa said.The pound also edged up against the euro, with the single currency falling to 82.96 pence from 83.22 pence in US trade.Speculation that Japan could introduce stimulus measures to mitigate the effects of the Brexit crisis weighed on the yen, which has soared since Friday as investor shifted into safe assets.The dollar rose to 102.15 yen from 101.99 yen, while the euro was at 112.80 yen from 112.42 yen.Japanese Finance Minister Taro Aso said in a morning news conference that the market regained calm this week, but that he is "watching currency moves with a sense of urgency" as a strong yen hurts the country�s exporters."We will firmly take action when necessary," he said, in comment suggesting possible dollar-buying intervention to weaken the Japanese unit if necessary. 
 Oil and Gas Regulatory Authority (OGRA) has recommended an increase in the prices of petroleum products from July 1, sources said Wednesday.</strongAccording to the sources in OGRA a summary in this regard has been submitted to the Ministry of Petroleum.According to the summary, the regulatory body has proposed an increase of Rs1.93 per litre on petrol, Rs3.75 per litre on diesel, Rs5.38 per litre on light diesel oil, Rs8.62 per litre on kerosene oil and Rs3.53 per litre on HOBC.However, a final decision in this regard would be taken by the Ministry of Finance after consultation with Prime Minister Nawaz Sharif.On April 1, the government had raised the tariffs of petroleum products.The price of petrol and diesel was increased by Rs1.50 and Rs1.40 respectively.
 European and Asian stock markets built on a recovery from the aftermath of last week's Brexit vote on Wednesday as investors wagered central banks would ultimately ride to the rescue with more stimulus.</strongUK and European banks, a center of concern since Britain shocked global financial markets on Friday by voting to leave the European Union, were broadly higher, extending a recovery from two days of trading which knocked almost 40 percent off shares in Barclays and RBS.Sterling, the other big victim on Friday and Monday, rose around 0.6 percent against the dollar to recover a full 3 cents of Friday's 18-cent fall to 31-year lows.Stock markets in Frankfurt, Paris and London all gained more than 2 percent in morning trade .FTEU3 while the pan-European index of major banks was up 1.6 percent. Wall Street was also set to open higher.At the heart of the recovery are expectations that the world's major central banks will go easier on monetary policy over the next six months in anticipation of another hit to global growth from Europe.Traders said there was much talk, particularly outside the UK, of ways in which Britain could renege on the results of the referendum to which no politician has given credence.But either way markets face a prolonged period in limbo while a new UK prime minister is selected and officials get to grip with the possible scenarios for Britain's departure."While the initial panic from Brexit appears to have eased, a huge amount of uncertainty remains which could continue to weigh on sentiment for a while," said Craig Erlam from online brokerage Oanda.Britain's 27 partners meet without the UK on Wednesday to discuss how to respond to a Brexit and are expected to launch a period of reflection, culminating in a set of EU reform proposals to be unveiled by March of next year."Expect lots of mood swings ahead as the prevailing mood changes but there was definitely an air that full Brexit wasn't necessarily a done deal yesterday," Deutsche Bank analyst Jim Reid said in a morning note.Better signals from the U.S. economy on Tuesday were also playing into the price action.But the first Federal Reserve policymaker to comment since the vote, Governor Jerome Powell, said it had shifted global risks "to the downside", reinforcing expectations the Fed will not hike U.S. rates this year and could even cut.Japanese Prime Minister Shinzo Abe also urged the Bank of Japan to provide ample funds to markets.In commodity markets, gold was firmer around $1,321.00 an ounce, off a low of $1,305.23 touched Tuesday.Oil prices gained as a looming strike by Norwegian oil and gas field workers threatened to cut output. There were also reports oil producers and refiners in crisis-struck Venezuela were struggling to keep output up.U.S. crude oil futures CLc1 were up 35 cents at $48.20, while Brent crude LCOc1 rose 22 cents to $48.80.
 Sterling rose for a second day on Wednesday, helped by rising stock markets, although lingering concerns over UK growth and investment after Britain's vote last week to leave the European Union were likely to limit gains.</strongInvestors were taking some reassurance from the fact that British politicians were not rushing to trigger the Article 50 mechanism for a state to leave the EU, despite European leaders telling Britain to act quickly.Two British opposition lawmakers were starting to push for a second Brexit referendum, and traders said that given the political uncertainty and leadership battles within the ruling Conservative Party and opposition Labour, investors were likely to stay cautious.The pound rose 0.6 percent to $1.3413 GBP=D4, having risen 0.8 percent on Tuesday, with traders citing offers to sell the currency at $1.3450 and $1.35. It plunged 11 percent after the British referendum to a 31-year low of $1.3122 on Monday.The euro was down 0.25 percent at 82.70 pence EURGBP=D4."It would be far too early to think that tensions have completely eased," said Thu Lan Nguyen, currency analyst at Commerzbank. "There is still considerable uncertainty as to what will happen in the UK following the Brexit referendum. The next few days will at least provide some clarity."Sterling was also drawing support from shifting expectations on U.S. interest rates. Markets are now pricing in a 5 percent chance the Federal Reserve will cut rates in July and an 11 percent chance of a cut in September. They discarded any chance of a rate increase this year, according to CME FedWatch."The UK referendum has only compounded doubts that the Fed will be able to hike rates this year at all, let alone implement the two hikes notionally pencilled-in," analysts at Bank of New York Mellon wrote in a note.For Britain, analysts said money markets were almost fully priced for a rate cut by the Bank of England by the end of the year and around a 50 percent chance of one by August, which should keep sterling weak. Before the vote, they suggested only a 20 to 30 percent chance of a cut by year-end. GBPOIS=ICAPThe world's biggest banks are forecasting a fall in sterling to $1.20. Forecasts for sterling by the end of the year have been cut by up to 30 cents since Friday
 The Asian Development Bank (ADB) has approved a $600 million loan program, with a first subprogram of $300 million, to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterprises.�Many large public sector enterprises rely on fiscal transfers from the federal government just to run their day-to-day operations, and there is no available funding for longer term capital spending and development,� said Werner Liepach, Country Director for ADB�s Pakistan Resident Mission.��This assistance will give the government the �fiscal breathing space� it needs to proceed with measures to create more sustainable businesses, delivering more efficient and cost-effective services to the Pakistani public, and will eventually free up public funds for vital social sector spending.�The federal government owns 191 public sector enterprises employing around 420,000 workers. A fiscal consolidation drive to improve federal finances has constrained the federal government from carrying out important reforms related to the public sector enterprises, including a reduction in contingent liabilities from pensions and other related costs. Among enterprises that need immediate financial support for initiating important reforms are power distribution companies and Pakistan Railways.The full program will help the government draw up and roll out a comprehensive reform plan to improve the financial transparency of public sector enterprises and to strengthen their corporate governance. It will include support to establish a retirement cost fund to manage huge unfunded pensions and other retirement liabilities of workers. Unfunded pension risk presents a serious threat to the financial health of the enterprises.Measures to strengthen auditing, accounting and other elements of operations at Pakistan Railways will also be supported by the program, along with actions to improve the performance of federal financial sector entities to boost financial inclusion in the country.The program is part of a broader, coordinated donors package for public sector enterprise reforms, with other assistance being provided by the International Monetary Fund and the World Bank. The program loans will be extended in two equal subprograms of $300 million each, with the first subprogram running for a year to June 2017 and the full program finishing in June 2018.ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members-48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.�
 Cotton imports by Pakistan are expected to remain near record-high levels in the year to July 2017, as erratic weather forces farmers in the world�s fourth-biggest producer to trim area under the crop, industry officials said.</strongA supply crunch in Pakistan, at a time when back-to-back droughts have taken a toll on output at top producer India, could boost global cotton prices from their current near 11-month highs.The two countries have already taken turns this year to buy from each other to fill shortages at home."Cotton area in Pakistan is down around 15 percent. Despite the government and industry�s efforts, farmers in top-producing Punjab have reduced area," said Saleem Saleh, acting secretary general of All Pakistan Textile Mills Association (APTMA).Unpredictable weather, such as floods late last year as well as poor rainfall in recent months, and the resultant uncertainty about yields is putting many farmers off cotton, stymieing Pakistan�s efforts to boost local output."Farmers are finding other crops profitable," said Shahzad Ali Khan, chairman of Pakistan Cotton Ginner�s Association.The country�s cotton output fell by a third to 9.7 million bales in 2015/16, forcing it to import a record 4 million bales in the year, up from 1.2 million a year ago, according to APTMA.Pakistan annually consumes around 15 million.Even for the season starting Aug. 1, weather has not been supportive and the crop in Punjab has already been hurt by poor rains in May and June, said Khan.Cotton sowing in Pakistan starts from April and harvesting begins in July.While the country has set a production target of 14.1 million bales for the new season, industry officials say output will fall short and that rainfall over the next few weeks will be crucial in determining yields."Import requirement is rising as local consumption is rising, but production is stagnant.This year imports jumped due to crop failure. Next year also imports would remain around this year�s level. Actual number depends on production," Saleh said.Typically lower output in Pakistan implies an exporting opportunity for neighbouring India.In fact, the latter shipped out about 6.5 million bales this season, with Pakistan taking nearly 2 million."India has freight advantage over other suppliers. Naturally India will be the preferred choice for buyers in Pakistan whenever they start imports," Cotton Association of India President Dhiren Sheth said.However, India�s move to contract 20,000 bales from Pakistan for import this month indicates supply at the top producer is also running thin.
 The World Bank has approved 200 million for a water management project in Balochistan which will benefit some 43,000 farm households in the province.</strongBalochistan Integrated Water Resources Management and Development Project will support investment in two of the eighteen basins in Balochistan Nari and Porali river basins.These river basins were selected based on an assessment of surface water resources development opportunities according to a statement issued in here.International Development Association a lending arm of the World Bank will finance the project.The loan is being extended on standard IDA terms with 25 years maturity including a grace period of 5 years.Balochistan is the least water secure province in Pakistan and farmers here face the greatest risks from climate change, says Illango Patchamuthu the World Bank Country Director for Pakistan.The Project is designed to boost farmer incomes through new irrigation infrastructure and improved on farm management and rangeland management.An associated objective is building province s capacity for long term water resources planning he added.Under the project communities will be involved in construction and rehabilitation of irrigation and drinking water supply facilities flood protection infrastructure watershed management and environmental protection works and on farm water management and agricultural productivity activities.The project will mainly benefit farmers with small holdings between 12.3 acres to 12.49.4 acres engaged in irrigated agriculture the statement said.The project will also strengthen province s hydro meteorological monitoring and river basin information systems.Groundwater is over exploited in many parts of the Nari and Porali basins and watersheds are degraded but opportunities exist for development of surface water resources and for rehabilitating watersheds and rangelands both to enhance production but also to protect water resources and improve climate resilience, William Young Task Team Leader of the Project said.
 As few days left to celebrate the festival Sweet shops, bakeries in the country are enjoying the Eid season as the rush of customers requesting their favourite treats for Eid ul Fitr.</strongAccording to a report aired by a private news channel said sweets are an integral part of Eid festivities in most Muslim cultures and there is an endless variety of the treats.According to shopkeepers business has boomed by 100 200 percent with citizens buying large quantities of sweets for celebrations at home and as gifts for others.A worker Asim Mushtaq at sweet shop said that the festival of Eid attracted large number of customers who bought sweets to take as a gift for their family and friends.He said that business had been incredibly low in Ramazan.�However he expected a 100 percent increase in business during Eid days.Our branches around the country have recorded a 60 percent increase in sales.�We have to cater a large number of clients who have booked their orders in advance for Eid.Shop owners at cake shops expect to attract a significant number of customers during Eid days.A worker stated that despite their high prices they had received a considerable number of orders for Eid in advance.He said that the sale of muffins cupcakes and cakes had increased considerably and would increase further during Eid days.Non Muslims too have been buying sweets as gifts for Muslim colleagues and friends, shop salesmen said.The outlets are brimming with richly decorated special Eid packaging.�Such is the demand that trays laden with sweets are stacked away neatly with shelf space having run out.What�s Eid without sweets, said Sohial Anwar a customer in a shop.�Sweets have been an integral means of spreading joy and happiness since ancient times especially during festivals and on auspicious occasions, he said.�According to him there is no decrease in people s love for sweets on the contrary it is ever on the increase.When you visit someone's home on Eid you would either be taking sweets with you.
 Tokyo stocks rallied at the start of trade Wednesday after US and European shares made their first gains since Britain�s unexpected vote last week to tear itself away from the EU.</strongThe benchmark Nikkei 225 index at the Tokyo Stock Exchange rose 1.31 percent, or 200.21 points, to 15,523.35 in opening deals, while the broader Topix index of all first-section shares climbed 1.36 percent, or 16.65 points, to 1,241.27.
 More than one third of Britons are likely to cut down on big purchases following Britain�s decision to quit the European Union, according to a retail survey published on Wednesday.</strongA Retail Economics poll of 2,000 people after last week�s referendum result showed that 37 percent of consumers would likely reduce spending on large purchases such as televisions, furniture, bathrooms and holidays."The results from our Consumer Attitudes Survey show concerns over the future of the economy, personal finances and rising costs of living are likely to choke off consumer confidence and spending," said Richard Lim, chief executive of research group Retail Economics.The survey revealed also that three in five Britons are worried about the outlook for the UK economy and believe Brexit will have a negative impact on personal finances."A further 58 percent said they would now hold back spending on non-essential items with our analysis suggesting that electricals and DIY would be the areas hardest hit," Lim said."With the consumer sector the driving force behind the economic recovery so far, it is difficult to see what can compensate should a more widespread slowdown materialise," he added.Britons voted by 52 percent to 48 percent in favour of leaving the European Union on Thursday.<br/>Britain would be the first country to leave the bloc.
 The prices of petroleum products would remain unchanged for the month of July despite a recommendation by the Oil and Gas Regulatory Authority (OGRA) to increase the prices.</strongThis was announced by Finance Minister Ishaq Dar at a press conference here Thursday.He said that the government has decided to maintain prices for the month of July and bear losses due to rise in global oil prices. Dar said that the finance ministry had estimated that it would bear a loss of up to Rs 3 billion by keeping the prices unchanged.The price of petrol, hi-octane, and kerosene oil will remain unchanged, said Dar, adding that the only price to be changed would that of light diesel, which would go up by Rs5.38/litre from the start of the coming month.OGRA had recommended an increase of Rs 1.93 per litre in the price of petrol; Rs 3.53 for high octane; Rs 8.62 for Kerosene oil and 3.75 rupee a litre in the price of high speed diesel.Dar said the government decided not to increase the prices in view of Ramazan and ensuing Eid ul Fitr.
 The Walton family, which owns roughly a 50 percent stake in retailer Wal-Mart Stores Inc (WMT.N), was named the richest family in the United States for a third consecutive year on Wednesday, according to Forbes.</strongOthers featured on Forbes' list include the Koch family, which owns the majority of conglomerate Koch Industries, the second largest private company in the United States. Their net worth was listed as $82 billion.The Mars family, owners of the candy giant Mars Inc, was third riches with a net worth of $78 billion, according to Forbes.Collectively, the top 25 wealthiest families in America are worth $722 billion, down 1.5 percent, or $11 billion, from a year ago.Worth $130 billion, the Walton Family Foundation announced on Tuesday that it would commit $250 million to help urban charter schools gain access to more facilities.
strong>The biggest uncut diamond to be discovered in over a century failed to sell at a Sotheby's auction on Wednesday, but the chief executive of Lucara Diamond Corp, the company that found the gem, said there was interest from buyers in the diamond trade.</strongBids for the 1,109-carat, tennis ball-sized stone topped out at $61 million - an amount that fell short of the undisclosed minimum reserve price.Sotheby's had estimated that the diamond, found last November at Lucara's mine in Botswana, would sell for more than $70 million."The fact that the stone didn't sell, yes, it is disappointing but it doesn't change anything for Lucara as a company," Lucara CEO William Lamb said in a telephone interview from London."There is definitely demand for the stone. It is just demand from the people who we would normally sell the stone to," he said.Shares in Vancouver-based Lucara ended down 14.5 percent at C$3.35 on the Toronto Stock Exchange after news of the failed sale."The result is a disappointing one, and potentially calls into question the sale method chosen," BMO analyst Edward Sterck said in a note to clients.The public auction route is unusual for large, rare diamonds, which are usually offered for sale to small groups of sophisticated diamond dealers.Lucara chose the auction route, Lamb said, because it wanted to have "access to as many ultra-high net worth individuals as possible, those people who had bought very expensive items in the past."Lucara had not yet decided what to do with the stone, he added, but possibilities include loaning it to museums to increase its exposure and to help educate the public about diamonds."We don't have to sell it because ... we have an exceptionally strong balance sheet. We have well over $150 million to $160 million in cash, we have no debt," Lamb said.The Lesedi la Rona, which means "our light" in the Tswana language spoken in Botswana, is the world's second-biggest gem quality diamond ever recovered, and the largest in more than a century.The biggest is the Cullinan diamond, a 3,106-carat stone found in South Africa in 1905.�Lucara last month sold a 812.77 carat uncut diamond named "The Constellation," which it found at the same Botswana mine as the Lesedi la Rona, for $63.1 million. A Dubai-based firm was the buyer, according to media reports.
 VimpelCom Global Telecom Holding (GTH) together with Warid Telecom Pakistan and Bank Alfalah Dhabi Group shareholders on Friday announced the completion of the transaction to merge Mobilink and Warid creating Pakistan�s next generation digital telecommunications provider.</strong�Mobilink and Warid transaction combined entity to serve over 50 million customers as Pakistan�s leading high speed mobile network,� said a press statement issued by the companies.The statement said that the combined Mobilink and Warid entity will be the leading telecommunications provider of 2G 3G and LTE services in Pakistan providing higher quality national voice and data coverage faster downloads and a wider portfolio of products and services.Chief Executive Officer of VimpelCom Jean Yves Charlier said VimpelCom continues to make significant progress against its transformation program.This market consolidation represents a further step in our strategy to strengthen our position in the markets in which we operate.As the VimpelCom Group focuses on an ambitious digital transformation we are investing in revolutionizing our technology core and product portfolio.We look forward to bringing innovative new products and services to our customers in Pakistan.Chairman of Dhabi Group Sheikh Nahayan Mabarak Al Nahayan said I am very happy that we have arrived at this milestone today which marks a unique moment for the Pakistan telecom sector.It is very positive news for Pakistan�s economy.The Dhabi Group remains committed to Pakistan and its economic progress and I would like to thank all the relevant authorities for their support in closing this transaction.I am confident that together the combined businesses will continue to deliver excellence to their customers while contributing positively to the business environment in Pakistan.Mobilink and Warid will benefit from VimpelCom�s USD 1 billion investments into building one of the largest and most ambitious IT infrastructures in the industry.
 Finance Minister Ishaq Dar has said the federal board of revenue has achieved the tax collection target of 3104 billion rupees for the fiscal year 2015-16.</strongTalking to the media persons in Islamabad on Friday, he termed this an historic achievement of the FBR.��The foreign exchange reserves have crossed the mark of twenty three billion dollars. Nineteen billion dollars are with the State Bank of Pakistan and 4.9 billion dollars with the private banks,� the finance minister said.He said the development budget of the provinces have reached 1900 billion rupees over the last three years.
 Pakistan will have more than 40 million smartphones by end of this year 2016 as increase in number of mobile broadband users have registered a reasonable growth.</strongBased on current trends in e commerce sector and as per market estimates more than two million users a month are looking to buy a phone online and to capitalise on this growing demand major industry players from service providers (telecom operators) to mobile phone makers and an e commerce platform have partnered with internet giant Google to promote online trade by offering exclusive discounts on mobile phone purchases just ahead of Eidul Fitr.In Pakistan third generation (3G) and 4G mobile phone users stand at 27 million as of May 2016 and continue to grow creating a huge demand for smartphones which is the top selling category across all major e commerce platforms.Publicly available data shows mobile phone imports in terms of value and not in units making it difficult to figure out category wise imports.However market sources say less than 20% of Pakistan�s monthly mobile phone imports comprises smartphones.This equation though is likely to change in a couple of years, they added.It merits mentioned that Pakistan s e commerce market is still in its infancy and represents only 5 % of conventional retail trade.However the overall size of this fast growing segment has come close to 100 million up by two thirds from 60 million as of 2014. A bulk of the country�s e-commerce transactions originate from Karachi Lahore Islamabad and Rawalpindi which comprise about 50% of customers.The remaining customer base is very thinly split between cities and towns nationwide.With telecom operators rolling out 3G and 4G services in semi urban and rural areas of the country�� which usually don t have outlets for branded products�� the e commerce market is likely to benefit a great deal.
 China's factories flatlined in June as exports shrank and jobs were cut, a worrying trend evident across Asia that argues for yet more policy stimulus as doubts gather over the potency of measures taken so far.</strongThe hard times signalled by a range of surveys was not what the world needed a week after Britain's vote to leave the European Union condemned that bloc to months, if not years, of political and economic instability.Most of the responses from manufacturers also preceded the Brexit vote, suggesting July could be even tougher."The unimaginable has happened and the UK vote will cast a long shadow over the UK, Europe and global markets for some time to come," warned Westpac head currency strategist Robert Rennie."A structurally weaker pound, a softer euro and weaker global growth beckons."Among the many surveys out on Friday, China's official Purchasing Managers' Index (PMI) slipped a tick to 50 in June, dead on the level that is supposed to separate growth from contraction.One saving grace was the services sector measure, which nudged up to 53.7 in a positive sign for consumer activity.More worrying was the Caixin version of the PMI, which covers a greater share of smaller firms, where the index fell to a four-month trough of 48.6 in June, from 49.2 in May."Panellists widely commented that poor market conditions and a drop in new work had led them to cut output," reported Caixin."Data suggested that part of the weakness stemmed from softer foreign client demand, with new export sales declining for the seventh month in a row."That had to be a disappointment to Beijing which has resorted to ever-looser fiscal and monetary policy to support growth and jobs in the world's second largest economy.It was a frustration likely shared by the Bank of Japan which found major manufacturers in a morose mood despite all its attempts at aggressive easing.The reasons were clear in the Markit/Nikkei measure of Japan's PMI which edged up slightly to 48.1 in June, but stayed in contractionary territory for the fourth straight month.Government data were no better with household spending down for the third month in a row and core consumer prices suffering their biggest annual drop since 2013.Markets reacted by driving Japanese government bond yields deeper into negative territory. Investors now pay 24 basis points for the privilege of lending Japan money for 10 years, a once unthinkable condition that is becoming standard fare.strong>AN END TO FREE TRADE?</strongThe news from South Korea was relatively cheery as its PMI reached a six-month high, yet at 50.5 it was just barely into expansionary territory.Indeed, a separate report showed shipments from the world's sixth-largest exporter fell for an 18th straight month in June.Likewise, electronics powerhouse Taiwan reported some improvement but again growth was only marginal.Vaninder Singh, an economist at Royal Bank of Scotland in Singapore, noted the region had been the greatest beneficiary of globalisation and any shift�to trade barriers or closed borders would hurt Asia the most."Overall, what is clear to us is that the impact, will be limited in the near-term, but much more significant in the medium-term," said Singh."We expect this event and what it represents to subtract as much as 0.3 percent from growth next year compared to our pre-event baseline and expect Asian central banks to respond with another round of easing."
 The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Saturday said business community of Pakistan will fully cooperate with the Government to face challenges emerged from Brexit.</strongAuthorities should take immediate steps to brace for changing global economic landscape, it said.Brexit has not only created problems but also opportunities which should be used in the interest of the country, said Zafar Bakhtawri, VP FPCCI while speaking to business community of Islamabad and Karachi through video link.Mr. Bakhtawri said that the reason behind UK decision was reduced Russian threat and soft immigration laws which has created unrest among the local population.The UK�s move has hit Euro and Pound which has started hitting Pakistani exports while the issue of GSP should be tackled on preference, he added.He said that Pakistan�s 29 percent exports and Europe-bound in which UK�s share is seven percent of 1.6 billion dollars which is taking a hit.The latest develop can compel some of the three million Pakistanis to leave which will hit remittances and create unemployment problem at home, he said.Speaking at the occasion, Zubair Tufail, Gulzar Feroze and others said that many countries will try to reap benefit of the situation but China will emerge victorious which will be good for Pakistan.Pakistan should try to use platform of Common Wealth while lure British investors who are now looking for place where they could invest safely.Foreign investment in Pakistan is set to rise including that in the stock market but Pakistan should immediately open dialogue with UK to offset any negative impact on its exports, they demanded.
 New car registrations in Germany, a key indicator of demand in Europe�s top economy, rose strongly in June, official data showed on Monday.A total of 339,600 new cars were registered last month, up eight percent from the figure for the same month in 2015, according to data compiled by the car manufacturers� federation VDA.Taking the six months to June as a whole, new registrations were up seven percent at 1.734 million cars over the same period a year earlier, VDA calculated."The German domestic car maker is showing a vitality that not many people expected," said VDA president Matthias Wissmann.Already at the start of May, VDA had raised its annual forecast for new car registrations this year to an increase of three percent to 3.3 million.Prior to that, it had been pencilling in an increase of one percent to 3.23 million.The first-half performance "is a good starting position for a successful second half," Wissmann said."2016 will be another year of growth."
 Gold eased off a near two-year high, while silver breached the $21 level for the first time since July 2014 in highly volatile trade on Monday, prompted by a burst of short-covering in China.</strongSpot gold rose about 1 percent at one point to touch a session best of $1,357.60 per ounce. This was close to the $1,358.20 level reached on June 24, the highest since March 2014, when global markets went into a tailspin in the wake of Britain's vote to exit the European Union.Spot gold was up 0.3 percent at $1,346.60 an ounce as of 0418 GMT. U.S. gold was up 0.7 percent at $1,348.50.Silver soared 7 percent at one point to $21.107, the highest since July 2014, before retreating below $20.25 by 0415 GMT."There is a little bit of a two-way battle going on in silver with a number of players going short in China," said an analyst with an international investment bank.The Shanghai Exchange Futures went limit-up as onshore players have aggressively been covering their short positions in the last few days, especially on Monday, said the analyst."Once the onshore market went limit-up, the short-covering buying spilled over to the London market."Chinese commodities from nickel to cotton surged on Monday on hopes Beijing would unleash more stimulus to prop up a sluggish economy, brightening the outlook for raw material demand.MKS trader Sam Laughlin said in a note global uncertainty would likely continue to fuel the recent rally in precious metals, but warned that there could be sharp periods of volatility."The metal (silver) continues to be buoyed by its unique position as both an industrial metal in risk-on conditions and a safe-haven asset in times of uncertainty," Laughlin added.Spot gold is expected to break a resistance at $1,351 per ounce and rise more to the next resistance at $1,367, said Reuters technical analyst Wang Tao.Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts to record highs in the week to June 28.Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.41 percent to 953.91 tonnes on Friday, the highest since July 2013.The U.S. markets are closed on Monday for the Independence Day holiday.
 The pound dropped on Tuesday, reaching lows against the dollar last seen in 1985, as the British central bank warned the outlook for financial stability was "challenging".</strongThe Bank of England eased commercial banks� capital requirements to boost lending, saying financial risks had "begun to crystallize" in the aftermath of a British vote to leave the EU.Just after 1430 GMT, the British currency stood at $1.3069, having earlier slipped to $1.3050, a level last seen in September 1985."A downward trend in the pound seems to have been triggered thanks to the measures taken by the Bank of England and the possibility of the pound returning to parity with the euro," said Sylvain Loganadin at online trading firm FXCM.It was quoted at 85.16 pence against the euro, below its two-year low seen post-Brexit, having earlier slipped as far as 83.89 pence."While the decline in the pound is welcome from an exporter point of view, the Governor is unlikely to want to see a disorderly decline and as such his tone could well be more measured and a little less dovish with respect to current sterling weakness," said Michael Hewson, an analyst at CMC Markets."Currency markets do appear to be running the risk of getting ahead of events with respect to current sterling weakness with bearish sentiment overwhelmingly negative," he said.In a bi-annual report, the Bank of England said that "the current outlook for UK financial stability is challenging".The British central bank announced it has cut its so-called capital buffer rate from 0.50 percent to zero, where it will stay until at least June 2017.The move will boost lending by up to �150 billion ($199 billion, 179 billion euros) -- and reduce banks� regulatory capital buffers by �5.7 billion, the BoE announced.BoE governor Mark Carney pledged it would do whatever is needed to aid monetary and fiscal stability following the June 23 referendum that saw Britain vote to exit the EU."The bank can be expected to take whatever action is needed to promote monetary and financial stability, and as a consequence, support the real economy," Carney told reporters in central London.
 The Government after acquiring stabilization of economy is now embarking on high growth strategy to create maximum employment opportunities.</strongAccording to Annual Development Plan 2015-16, enhanced size of Public Sector Development Programme and investment in the China Pakistan Economic Corridor will increase GDP growth to 5.7 per cent and also generate employment.Under the CPEC, an inflow of financial resources of around 46 billion dollars will spur economic activity and create around two million direct and indirect new jobs.During the last year 386 Megawatt electricity has been added to the system and another 2,500MW will be added this year that will ensure uninterrupted supply of energy to industry and eventually improve the employment prospects in the economy.Under Youth Business Loan Scheme, the young entrepreneurs in the age group of 21-45 years are being provided subsidized financing through designated financial institutions.China-Pakistan economic corridor (CPEC) is a mega project of USD 45+ billion taking the bilateral relationship between Pakistan and China to new heights. The economic corridor is about 3000 Kilometres long consisting of highways, railways and pipelines that will connect China�s Xinjiang province to rest of the world through Pakistan�s Gwadar port.
 The British pound hit fresh lows against the dollar and euro Tuesday amid new warnings from the Bank of England over the possible damage to global growth from Britain�s vote to leave the European Union.</strongThe pound sank over two and a half cents to $1.3028, and against the euro fell to 85.00 pence, up just over one pence.In its biannual report the BoE highlighted a number of risks emanating from the vote to leave the EU, including a hit to the commercial real estate market from the possible relocation of banking jobs to other European cities."There is evidence that some risks have begun to crystallize. The current outlook for UK financial stability is challenging," it said.Meanwhile the yen was the preferred safe haven, pushing to 101.75 against the dollar and 112.69 against the euro.In the United States the yield on the benchmark 10-year Treasury bond fell to a record low, settling at 1.367 percent, in another sign of the flight to safety as markets continued to convulse in the wake of the June 23 Brexit referendum.�
 International Monetary Fund chief Christine Lagarde said that Britain�s shock vote to quit the European Union has injected significant uncertainty into the global economy but is unlikely to cause a world recession.</strongBut in an exclusive interview with AFP, she also said that Brexit underscores the need for the EU to do a better explaining how it benefits Europeans, amid "disenchantment" with the institution.And she said that Britain�s move to cut corporate taxes to counter the expected economic fallout from its choice to break with the EU was just a "race to the bottom" that could hurt everyone.Two weeks after the British referendum on cutting its EU ties, Lagarde, speaking in her Washington offices at the beginning of her second five year term as IMF managing director, called the event a "major downside risk" for the world."We don�t think that a global recession is very likely. The immediate effects will be on the UK," with some spillover into the euro area, she said.Yet the longer the process for Britain�s withdrawal remains unclear, the worse the effects could be, she said."The key word about this Brexit affair is uncertainty and the longer the uncertainty, the higher the risk," she said."The sooner they can resolve their timeline and the terms of their departure the better for all. It needs to be predictable as soon as possible."But Lagarde, who during her first five years leading the Fund has already endured a substantial amount of turmoil in Europe, said she remained positive over the outcome."There will be spillover effects on the euro area. But my optimistic approach of life tells me that Brexit could be a catalyst that could push the EU to deepen its economic integration."
 A bunch of grapes in Japan sold for $10,900 Thursday, a record price for the variety in the fruit-obsessed nation where the produce can be a huge status symbol.</strongSeasonal fruit offerings in Japan routinely attract massive sums from buyers seeking social prestige, or from shop owners wanting to attract customers to "ooh and ahh" over the high-flying edibles.The buyer of Thursday�s bunch of about 30 Ruby Romans -- who paid about $360 per grape -- showed no wrath, promising to dole out samples to a few fortunate patrons."These are truly Ruby Roman gems," bidder Takamaru Konishi from western Japan told media."We will display them at our store before giving our customers a sample taste," he said.Even to the untrained eye, the super-sweet grapes -- about as large as a ping pong ball -- stand above their more affordable cousins readily available in supermarkets elsewhere in the world.The 1.1 million-yen sale kicks off the auction season for Ruby Romans in Japan. Other fruits, from apples to watermelons, can also fetch jaw-dropping sums under the hammer.Fruit is comparatively expensive in Japan and it is not unusual for a single apple to cost as much as $3.The king of fruits in the country is the melon, which serves as a status symbol akin to a vintage wine, and is given as a high-ranking gift. A single pair of melons fetched $12,400 at an auction last year.
 Myanmar�s annual jade and gems sale netted more than 530 million euros ($587 million), an official tally showed Thursday, as Chinese buyers continue to drive a shadowy industry linked with rebel conflicts and notorious for perilous working conditions.</strongLusted after by wealthy Chinese, Myanmar�s jade mines were in the hands of the military and their �crony� elites during the junta years and are still believed to raise tens of billions of dollars in undeclared sales.While the price of the green stone has slipped in recent months, thousands of poor migrant workers still risk their lives to comb unstable pits in northern Myanmar for jade fragments.Hundreds of slabs of jade worth 527 million euros were bought during the 12-day sale in the capital Naypyidaw, according to government figures, with around six million euros-worth of gems and pearls also snapped up.The event, which drew 895 Chinese companies, is the country�s only official jade sale."We displayed fewer lots of jade than the previous emporium... so we also received less money than the previous one," Than Zaw Oo, of state-owned Myanma Gems Enterprise told AFP, without giving last year�s sale total.Anti-corruption campaigners say the real value of Myanmar�s jade runs into the tens of billions of dollars annually.Powerful syndicates linked to smuggling rings and rebel commanders slip tonnes of the precious stone across the northern border to China each year, depriving the state of huge sums of income.Most of the world�s best quality jadeite -- the rarer and more expensive of two minerals containing jade -- is mined in Hpakant, a strip of torn earth in Myanmar�s insurgency-wracked northern Kachin state bordering China, a country with a voracious demand for the precious stone.Jade is widely believed to be an important revenue stream for the Kachin Independence Army (KIA) which is resisting ceasefire overtures in its fight against Myanmar�s army.Jade mines have also long been a dangerous workplace for the itinerant miners who scratch a living from the stone -- around 100 people died in a major landslide in November last year.The falling price of jade in recent months has been attributed to customs action in China�s border area, deterring smugglers and leading to a glut.
 Tech giant Samsung Electronics Co Ltd said on Thursday its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than 2 years as Galaxy S7 smartphone sales propelled mobile earnings.</strongThe world's top maker of smartphones and memory chips said its April-June profit was likely 8.1 trillion won ($7 billion), better than the average forecast of 7.8 trillion won tipped by a Thomson Reuters survey of 16 analysts. It was the highest since a 8.5 trillion won profit in the first quarter of 2014.The mobile division likely was the top earner for the second straight quarter, raising the question of whether the South Korean company can sustain this strong momentum in the face of competition from Apple Inc and cheaper Chinese rivals."At this point it appears unlikely that we'll see stronger competing devices emerging (in the second half)," IBK Asset Management fund manager Kim Hyun-soo said.Apple's new iPhones - likely to launch around September - would not offer any dramatic new features, Kim said.While Samsung will not disclose detailed results until late July, its shares rose on the guidance. They were up 1.7 percent as of 0132 GMT, compared with a 1.1 percent rise for the broader market.The Thomson Reuters poll tipped the mobile division's profit to have risen 54.5 percent from a year earlier to 4.3 trillion won, the highest since the second quarter of 2014.S7 sales will likely ease in the second half, but Kim said Samsung should be able to maintain quarterly earnings of between 7 trillion won and 8 trillion won for the rest of 2016 with help from its chips business and the launch of its next premium smartphone, the Galaxy Note.strong>BOUNCING BACK</strongSamsung's smartphone business shrank last year as Apple grabbed market share at the high end with its iPhone 6, and Chinese rivals like Huawei Technologies Co Ltd did well in the budget segment.Things turned around this year, with the success of the Galaxy S7 and margin improvements from a more streamlined product lineup putting the business on track for its first annual profit growth in three years.Looking further ahead, some investors remain skeptical about Samsung's long-term prospects in the cut-throat smartphone segment, which has seen slowing growth globally."For the medium term I think 4 trillion won (quarterly mobile) profit is the new normal," Nomura analyst C.W. Chung said.Samsung said revenue for the quarter likely rose 3 percent to 50 trillion won.
 Global trade is likely to remain sluggish going into the third quarter and vigilance is needed against any measures that limit trade and to counter "very damaging" anti-trade rhetoric, the head of the World Trade Organization said on Friday.</strong"It is time for vigilance against measures that hamper and restrict trade and very damaging anti-trade rhetoric," WTO Director-General Roberto Azevedo told a news conference on the eve of a meeting in Shanghai of G20 trade ministers.Azevedo said the WTO expected 2016 to be the fifth consecutive year of less than 3 percent growth in global trade, and trade would remain sluggish going into the third quarter of the year.
 On a sunny afternoon near Big Ben, two weeks since Britain�s historic decision to leave the European Union, little has changed for visitors to the capital London except that their visits are now cheaper.</strongAs tourists take selfies at the foot of the British parliament�s famous clock tower and at red telephone boxes, there is little talk of what the "Leave" victory in the referendum means for the EU�s future.But the ensuing currency plunge is seen as a plus."For my holidays, it�s great! They are cheaper every minute," said Robbert de Reus, from Middelburg in the Netherlands, his sunglasses perched on his head.This is because a plunge in the value of the pound against the dollar and the euro has made holidays in Britain almost 15 percent cheaper for foreign tourists.Roberto Serraglia said he had just arrived from Cuneo in northwestern Italy with his wife and two children."Compared to before the vote, we will save at least 15 percent, given what the pound has lost," Serraglia said."For us it is a very good thing to come to London at this moment, even if it�s not something we would have wanted."strong>- �More clothes, more toys� -</strongBretton Pyne, a US student in a French football jersey, said that he had gone on a small shopping spree to make the most of the falling pound."I was here for the vote and I�ve bought a lot of stuff to try to take advantage," Pyne said.Erica Kim, who travelled from South Korea with her husband, regrets having changed money before she left, on a pre-referendum rate."I�m quite sad because I change my money before leaving and I�ve lost 400 pounds," Kim said."I have two more days to shop and I will buy more clothes, more toys for my family," she added.The fall of sterling means that the British tourism industry is one of the country�s few industries that will quickly see a post-Brexit boost."Tourism has the potential to benefit from the weakened pound against the euro," according to tourism agency VisitBritain.International flight bookings rose almost 10 percent in the week after the referendum compared to the same period a year earlier, the agency said, citing data collected by travel industry consultancy ForwardKeys.Yet, not far from the tourist crowds outside Prime Minister David Cameron�s residence at 10 Downing Street, the signs of a boost to tourism are yet to be felt among sceptical souvenir sellers."Except the American people who spend more than before, there is nothing special," said Mara Oliveira, head of CGX Accessories.Surrounded by Big Ben shaped teapots and pictures of Queen Elizabeth II framed by the colours of the Union Jack in a shop called Cool Britannia, Ashik Av forecast nothing but gloom following the Brexit vote."We don�t see anything positive from the Brexit. Tourists are confused," Av said.
 Hong Kong stocks fell back again Friday morning after climbing more than one percent the previous day, with investors awaiting the release of a key US jobs report later in the day.</strongThe Hang Seng Index dipped 0.41 percent, or 84.09 points, to 20,622.83.And the benchmark Shanghai Composite Index fell 0.55 percent, or 16.52 points, to 3,000.33, while the Shenzhen Composite Index, which tracks stocks on China�s second exchange, eased 0.10 percent, or 1.98 points, to 2,013.17.
 US employers added new workers at a surprisingly strong rate in June after an unnerving stall in May, in a clear demonstration of economic resilience, the Labor Department reported Friday.The much better-than-expected numbers gave a boost to markets in the US and Europe, which have been battered down by worries that Britain's vote to withdraw from the European Union will drag down economic growth.Private businesses and government authorities across the United States generated 287,000 new positions last month, 112,000 more than analysts had expected.The strongest hiring was in the health care, hospitality, information and retail sales sectors, while government hiring also picked up.That largely compensated for the poor numbers from May that had shocked policymakers and markets, sending the dollar lower and contributing to the Federal Reserve's decision last month to put off an interest rate hike.The May job creation numbers in fact were revised downward in Friday's data from the original 38,000 reported to just 11,000.June's hiring levels boosted the monthly average of the last three months to a solid 147,000, which economists say is adequate to keep bringing down unemployment overall."This is a good trend but nothing spectacular. It suggests that hiring has taken a step down since late last year but that job growth is still strong enough to absorb slack in the labor market," said analysts at Nomura Global Economics in a client note."Most important, today's report quells any concerns of a broader economic slowdown in the US."Markets reacted positively, with the S&amp;P 500 surging 1.5 percent to a fraction shy of an all-time record.In Europe, Frankfurt's DAX index gained 2.2 percent Paris's CAC 40 added 1.8 percent, while in London the FTSE 100 barometer rose 0.9 percent.As analysts said the data increases the chances that the Federal Reserve will raise interest rates at least once before the end of the year, early in the session the dollar jumped and US bond yields, which had plunged in recent weeks, spiked higher.The jobs numbers were not unequivocally good. Wage growth, another indicator of economic strength, slowed slightly, bringing the annual pace for the last three months to 2.5 percent, compared with the 12-month rate of 2.6 percent.And the unemployment rate, which is based on a separate database from the job creation numbers, rose by 0.2 percentage points to 4.9 percent, though still near the lowest level in more than eight years.That rise was mainly due to a large jump in the number of people reported rejoining the workforce, diluting the impact of the hiring surge on the jobless rate.In May the unemployment rate had fallen from 5.0 percent to 4.7 percent after the volatile data showed a huge number of people had dropped out of the labor force.�
 The world�s top 20 economies will work to boost sluggish global trade despite growing protectionism, overcapacity concerns, and uncertainty over Brexit, G20 trade ministers said Sunday at a meeting in Shanghai."The global recovery continues, but it remains uneven and falls short of our ambition for strong, sustainable and balanced growth. Downside risks and vulnerabilities persist," the trade ministers said in a joint statement, adding that trade should remain "an important engine" to spur global growth.The G20 nations, which account for 85 percent of global trade, admitted that protectionism has been rising since the financial crisis, and said that new trade restrictions in the group had reached the highest monthly average registered since the WTO began monitoring in 2009."We note with concern that despite the G20�s repeated pledge, the stock of restrictive measure affecting trade in goods and services has continued to rise," they said in the statement.Ahead of the meeting, WTO chief economist Robert Koopman warned that restrictive measures could affect industries including air freight cargo, sea based cargo, automobile sales and production, electronics trade, and agricultural raw materials.The world�s leading economies at the weekend pledged to oppose trade protectionism and reiterated a promise not to add new protective measures until 2018.Global trade is expected to grow at a tepid 2.8 percent in 2016, the World Trade Organisation (WTO) said in April.And this year is expected to be the fifth in a row where trade grew at less than three percent -- its weakest sustained level in 30 years, WTO Director-General Roberto Azevedo said on Friday ahead of the talks.To combat the global slowdown, the ministers said they agreed to improve global trade governance and to work towards easing and liberalising trade./> 
 �Pakistan stocks closed higher on Monday, after a choppy trading session that saw initial losses but was buoyed in late trading by investment sentiment echoing regional markets, analysts said.</strongThe benchmark 100-share index of the Pakistan Stock Exchange ended up 1.06 percent, or 401.20 points, to close at 38,367.96.The gains on Monday saw the index completely erase the losses that had occurred days after the Brexit vote on June 23, said Gohar Rasool, head of international sales at Inter Market Securities Pvt Ltd.Oil stocks were among the gainers, Rasool added, despite global oil prices taking a dip.Pakistan Petroleum Ltd closed up as much as 1.58 percent, Oil and Gas Development Company gained 0.9 percent, and Pakistan Oilfields Ltd climbed as much as 0.92 percent.Meanwhile, cement and fertiliser stocks also enjoyed a strong trading session, Rasool said.Lucky Cement Ltd gained as much as 3.46 percent, Fauji Cement Company Ltd rose 2.37 percent, and fertiliser manufacturer Dawood Hercules Corporation Ltd ended up 4 percent.Traded volume on the day rose to 110.8 million shares, with traded value at 11.15 billion rupees ($106.39 million).($1 = 104.8000 Pakistani rupees)
 Gold edged lower on Tuesday as global equities rallied on easing political uncertainty in Britain and hopes for more economic stimulus measures, which in turn curbed demand for assets perceived as a haven.</strongSpot gold was down 0.2 percent at $1,352.06 an ounce by 0940 GMT after falling nearly one percent on Monday, which was its biggest decline in almost two weeks,U.S. gold was down 0.1 percent at $1,355.30 an ounce."Tensions in Britain are easing for now, as the country will soon have a new prime minister," ActivTrades chief analyst Carlo Alberto de Casa said."With the British pound gaining some ground, demand for gold and other safe havens is also decreasing," De Casa said, adding that the next support level for gold was around $1,340 an ounce.Gold has gained about $100 an ounce since the United Kingdom voted to leave the European Union, as worried investors piled their cash into safe-haven assets.However, Asian stocks hit a 2-1/2-month peak on Tuesday and European shares were on track for a fourth straight day of gains on hopes of more stimulus from global policymakers.Japan's ruling coalition fanned expectations of more fiscal stimulus, while the Bank of England could cut rates as soon as Thursday following its monthly policy meeting.Markets were also assessing whether the latest U.S. jobs data has boosted the prospects for an interest rate increase by the U.S. Federal Reserve.Gold came under pressure after strong U.S. non-farm payrolls data on Friday boosted some expectations for a U.S. rate rise.Kansas City Federal Reserve President Esther George said on Monday that U.S. interest rates were too low and signalled she could be ready to resume her push within the Fed's rate-setting committee for rate increases.Lower rates tend to boost gold prices because they cut the opportunity cost of holding non-yielding bullion while weighing on the dollar, in which it the metal priced."Not too long ago, gold prices would have withered on prospects of higher stock prices, but not this time around; investors are thinking that the spate of monetary easing is likely to persist for some time to come, keeping both gold and equities fairly well supported," INTL FCStone said in a note.The European Central Bank will not ease monetary policy any further at its meeting next week, according to an overwhelming majority of respondents in a Reuters poll of euro money market traders.Silver was up 0.6 pct at $20.41 an ounce.Platinum, which rose to a 13-month high of $1,104.10 on Monday, fell for the first time in two weeks, down 0.1 percent at $1,099 an ounce.Palladium was up 0.6 percent at $623.92 per ounce.
 Tokyo shares rallied at the start of trading Tuesday, following a solid lead from Wall Street and with exporters boosted by a sharply weaker yen, which eased on stimulus hopes.</strongThe benchmark Nikkei 225 index soared 2.29 percent, or 359.82 points, to 16,068.64 shortly after the opening bell, while the broader Topix index of all first-section shares jumped 2.24 percent, or 28.10 points, to 1,283.89.
 Petroleum group import in the country witnessed sharp decrease of 36.21 percent during eleven months of financial year 2015-16 as compared to the same period of last financial year.</strongAccording the data of Pakistan Bureau of Statictics, country managed to save about US$ 3.867 billion from the national exchequer on the import of petroleum products during the period under review as the prices of the commodity also witnessed sharp decrease in its prices in international markets.During the period from July-May, 2015-16 petroleum products import in the country also reduced by 31.82 percent as compared to same period of financial year 2014-15.About 10,440,967 metric tons of petroleum products worth US$ 4.72 billion were imported in first eleven months of financial year 2015-16 as compared to import of 10,605,550 metric tons valuing US$ 6.933 billion of same period of 2014-15.Meanwhile, petroleum crude import in the country during the period under review also witnessed sharp decrease of 44.32 percent as it went down from 5,051,259 metric tons to 5,370,406 metric tons, it added.During last 11 months country saved US$ 1.665 billion on import of crude petroleum import as its import was recorded at US$ 2.087 billion from July-May 2015-16 as compared to import of US$ 3.748 billion of same period last year.On month on month basis, petroleum group imports in the country also registered negative growth in month of May as compared to same month of last financial year.Petroleum group import was recorded at US$ 719.936 million during the month of May, 2016 as compared to import of US$ 821.017 million of same month of financial year 2015.The petroleum products imports also registered decreasing trend of 12 percent where as crude petroleum by 13.57 percent in month of May, 2016.
 Qatar will construct two buildings designed by late Iraqi-British architect Zaha Hadid, including a tower shaped like a desert flower close to the site of the 2022 soccer World Cup final, a member of its ruling family said on Tuesday.</strongSheikh Mohammed bin Hamad al-Thani, the brother of Qatar's Emir, commissioned Hadid in 2013 to create the structures, one a 38-story hotel in the form of a hyacinth and featuring a nine-pointed base to shield visitors from the searing Gulf sun.Sheikh Mohammed's Al Alfia Holding said in a statement it would construct the tower "designed in response to current and future environmental challenges" by 2020 in the city of Lusail, 23 km (14 miles) north of the capital Doha.�We often look at nature�s systems when we work to create environments, at her unrivaled logic and coherence,� Hadid, who died in March, said of the project.Now led by Patrik Schumacher, Hadid's architecture firm ZHA has announced a number of new projects including a new central business district for Prague and a technology park near Moscow.In April, the firm said it would complete 36 projects that had been started or were under contract before Hadid's death including an "oyster-like" ferry terminal in Salerno, Italy, the King Abdullah Petroleum Studies and Research Center in Riyadh, and the Mathematics Gallery at London's Science Museum.
 While high-end jewellery shops in Mumbai's Zaveri bazaar are scratching for customers after a jump in local gold prices, Jitendra Jain, a scrap gold buyer in India's biggest bullion market, is doing brisk business.</strong"Since prices have risen, I decided to sell old jewellery that I stopped using long back," said homemaker Sima Singh, who queued for nearly an hour at Jain's tiny shop to sell gold bangles that she had bought two decades ago.Thousands others have sold their jewellery in recent weeks with local gold prices hitting a near three-year top. More such sales would bode well for the Indian government that has been urging people to recycle unused gold in order to cut costly imports by the world's No.2 bullion consumer.Demand for new gold has been so weak in the past few months that India's imports over January-June halved from a year ago to 200 tonnes, data from consultancy Thomson Reuters GFMS shows.Arrivals for the year could hit 600 tonnes if prices stay near current levels, said Bachhraj Bamalwa, director at All India Gems and Jewellery Trade Federation.While this indicates an expected pick up in demand in the second half, when the festival and wedding seasons kick in, it would still be the smallest annual import since 2003.India shipped in as much as 904.5 tonnes last year, when global spot prices fell more than 10 percent.World prices have risen 25 percent so far this year, after plunging 36 percent in the past three years, driven in recent weeks by an economic uncertainty stemming from the United Kingdom's vote to leave the European Union.However, worries prices may move south again are prompting consumers to sell and bank profits while they can."The price correction since 2013 has changed perception," said Mukesh Kothari, director at dealer RiddiSiddhi Bullions in Mumbai. "Earlier consumers were assuming gold prices will go up and up only. Now they have realised they could correct and they need to enter the market at the right time."strong>TIME TO SELL</strongIndian gold prices hit a record high of 35,074 rupees ($522) per 10 grams in August 2013, falling then to a four-year low of 24,451 rupees in 2015, leaving many investors in the lurch. Last week, prices breached the 32,000-rupee mark."I was waiting for prices to rise above 30,000 rupees. As they did, I decided to sell," said Aneesh Shah, who had bought some gold coins in 2005."I will buy again if prices correct to 25,000 rupees."The rise in scrap supplies has forced dealers to offer hefty discounts in India. Earlier this month, discounts hit a record high of $100 per ounce versus the global spot benchmark amid continued weak demand for new purchases."Many investors bought gold at higher levels during the rally and got stuck," said Jain from Zaveri bazaar, as he rubbed a gold coin against a stone to test its purity. "Now, they are getting an opportunity to sell."($1 = 67.1800 rupees)
 Pakistan will start importing RON 92 standard petrol from October, which will improve efficiency of vehicles and give good mileage per litre, official sources in the Ministry of Petroleum and Natural Resources said Friday.</strong�Currently, the country is importing 87 RON petrol, which is not of a very high quality, but from October we are going to replace it with RON 92 standard petrol,� they told APP.Besides, they said the government was making tireless efforts to increase the country�s oil refining capacity.Accordingly, a task to Pakistan Arab Refinery Company (PARCO) to complete Khalifa coastal refinery, having capacity to produce 250,000 barrels per day, which was pending for last several years.They said six oil and gas discoveries were made in June, adding 83 discoveries were made in three years since the present federal government took over.These are a record number of discoveries made in just one month, from where 50.1 mmcfd gas and 2,359 barrels oil per day would be produced.Following the 83 oil and gas discoveries in last three years, around 631 million cubic feet per day (mmcfd) gas and 27,359 barrels per day Crude Oil production has been added to the system, they added.
 Overseas Pakistani workers remitted US$19914.60 million in Fiscal Year 2016, showing a growth of 6.38% compared with US$18719.80 million received during Fiscal Year 2015.</strongAccording to the State Bank of Pakistan, during June 2016, the inflow of workers� remittances amounted to US$2072.97 million.The country wise details for the month of June 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$582.84 million, US$434.90 million, US$274.01 million, US$309.27million, US$232.27 million and US$50.31 million respectively compared with the inflow of US$536.68 million, US$423.24 million, US$258.95 million, US$247.96 million, US$209.66 million and US$ 34.36 million respectively in June 2015.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2016 amounted to US$189.37 million together as against US$110.63 million received in June 2015.
 As per Federal Government�s Gazette Notification dated June 04, 2015 the old design banknotes will cease to be legal tender with effect from December 01, 2016. Therefore it has now been decided to phase out all remain in gold design banknotes of Rs 10, 50, 100 and 1000, said a statement issued by the State Bank of Pakistan here on Friday.</strongThe Rs. 5 banknote and the old design Rs. 500 banknote have already been demonetized.It is worth mentioning that the State Bank of Pakistan issued a new design banknote series which started with the issuance of Rs20 denomination banknote in 2005 to improve the security durability and aesthetic quality of banknotes.The process of issuance of complete series of new design banknotes comprising eight denominations (Rs 5 10 20 50 100 500 1000 and 5000) was completed in 2008.The commercial and microfinance banks will accept the old design banknotes of Rs 10 50 100 and 1000 and exchange the same with the new design banknotes and coins of all denominations up to 30th November 2016 only.However, SBP BSC field offices will continue to accept the old design banknotes of Rs 10, 50, 100 and 1000 from general public up to December 31 2021. The last day to exchange all old design banknotes from banks is November 30, 2016.All old design banknotes shall cease to be legal tender on December 01 2016 while last day to exchange all such banknotes from SBP BSC field offices is December 31, 2021.
 Asian shares extended gains to nine-month highs on Friday, on track for a solid weekly rise, as better-than-expected economic data from China lifted risk sentiment that was already buoyant after record highs on Wall Street.</strongBut European stock markets were expected to dip lower at the open, while travel stocks could come under pressure after an attacker killed 80 people in the French Riviera city of Nice late on Thursday.Financial bookmakers at IG and CMC Markets expected Britain's FTSE 100 and Germany's DAX to open 0.1 percent lower, while France's CAC was seen down 0.4 percent."European markets look set to open lower on Friday, coming off multi-month highs in the wake of the horrific attack last night during Bastille Day celebrations in Nice, France," Jasper Lawler, market analyst at CMC Markets UK, said in a note.An attacker killed 80 people and injured scores when he drove a truck at high speed into a crowd watching a fireworks display on Thursday night.MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 percent, off intraday session highs it hadn't reached since October, but it was still on track to log a robust weekly gain of more than 4 percent for the week.On Thursday, both the Dow Jones industrial average and the S&amp;P 500 closed at record highs.China's economy grew 6.7 percent in the second quarter from a year earlier, steady from the first quarter and slightly better than expected as the government stepped up efforts to stabilize growth in the economy.Industrial output and retail sales also beat forecasts, which helped alleviate fears of slowing momentum, though fixed-asset investment growth slipped and missed market expectations."The data showed the signs of stabilisation, which is very encouraging," said Julian Wang, economist for Greater China at HSBC."However, public sector investment and housing market are slowing down. So the challenges still loom quite large in the second half of the year."China stocks wobbled, with the CSI300 index of the largest listed companies in Shanghai and Shenzhen, as well as the Shanghai Composite Index both down 0.1 percent in choppy trading.Japan's Nikkei added 0.7 percent, gaining more than 9 percent for the week with the tailwind from a weaker yen after Japanese Prime Minister Shinzo Abe called for a fresh round of fiscal stimulus following last weekend's victory for his ruling coalition.Part of the yen's recent weakness was also due to some investors' hopes that former U.S. Federal Reserve chair Ben Bernanke's meetings with Japanese leaders this week would herald the adoption of further stimulus policy, to help meet the goals of the ambitious "Abenomics" reform plan."The amount of outflows from Japan year to date versus the amount of inflows in the last two weeks, it's been a significant reversal," said Logan Best, vice president of securities trading at INTL FCStone Financial in Orlando."We're talking about billions of dollars being put back to work, in the past week. I'm seeing significant buyers every day," he said. "There's definitely some hope rekindled in Abenomics."News of the attack in France had lifted the safe-haven yen in early trading."Initially, some U.S. short-term guys used it as an excuse to test the downside and sell ahead of the long weekend in Tokyo," said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo, referring to Monday's public holiday for which Japanese markets will close.The dollar added 0.4 percent to 105.70 yen, having dipped as low as 105.05 earlier in the session. It subsequently recovered to rise to a three-week high of 106.32 yen, and was on track to gain more than 5 percent for the week against its Japanese counterpart.The euro was up 0.2 percent at 117.59 yen, up over 5 percent for the week.The pound was up 0.4 percent at $1.3395, on track for a weekly gain of 3.5 percent, after earlier rising as high as $1.3481. On Thursday, the Bank of England surprised many investors by leaving interest rates unchanged instead of cutting to cushion the economic impact of Britain's vote last month to leave the European Union.Oil prices gave up some of their overnight gains in early trading, after rising 2 percent on Thursday as traders covered short positions after data showing weak U.S. fuel demand. The bright signs of stabilization in the Chinese economic data could not offset concerns about a global supply glut. [O/R]Brent crude futures slipped 1 percent to $46.92 a barrel, while U.S. crude also fell 1 percent to $45.23.�
 Government has allocated Rs18 billion to multiply sales volumes up to 35 billion a year and stem the country�s foreign trade, according to a report.</strongTwo key markets UAE and Saudi Arabia will be explored and targeted to multiply the export volume while latest fashion wear mangoes high tech electronics and top grade pharmaceutical are some of the exportable products, reported Khaleej Times.It said that the UAE s current share of exports from Pakistan is four per cent the Ministry of Finance said.UAE not only imports a large number of items for its own use but also serves as a transit point to import goods from Pakistan and several countries for sale and shipment to other countries in the Middle East Africa and even South East Asia.It added that even Pakistan imports a large number of raw materials and consumer goods through the UAE particularly Dubai because it is an excellent transit point has low cost shipping tariff and efficient banking and communications.The industry business and exporters now have the latest version of the Strategic Trade Policy Framework (STPF) 2015 18. Implementation of these plans through government funding for various industries and industrial units and training by foreign trainers will enlarge output and offer high quality products to attract global consumers.
 Turkey�s currency lira rallied on Monday after suffering one of its steepest ever drops to a historic low in the aftermath of a military coup attempt to topple President Recep Tayyip Erdogan�s government.</strongThe lira was trading at 2.93 to the US dollar, a gain in value of 2.7 percent on the day.In the wake of the coup action late Friday, it had crashed 4.99 percent to trade at a historic low of 3.04 lira to the dollar.The lira was trading at 3.24 to the euro, a gain in value of 2.67 percent. On Friday it had tumbled 4.8 percent in value against the euro to trade at 3.34 to the euro.Markets appear to have been reassured by the failure of the coup and the reimposition of order under President Recep Tayyip Erdogan.The Istanbul stock exchange, which was not open when the coup took place, fell 2.3 percent to 80,756 points.The coup started with warplanes flying over the Turkish capital and tanks deployed on the Bosphorus bridge. A faction in the army said it had seized power.Turkish authorities have cracked down on suspects in the failed coup against Erdogan.Turkish officials said the situation was under control with F-16s patrolling Turkish airspace late Sunday.
 As directed by Finance Minister, Senator Mohammad Ishaq Dar, Federal Board of Revenue (FBR) will soon hold meetings with stakeholders regarding the modalities for determination of fair market value of immovable property vide Finance Act, 2016.</strongThe Minister earlier this week had asked Chairman FBR to liaise with different associations, builders and developers and other stakeholders, seeking their point of view in the matter, with a view to address the apprehensions and misconceptions.In a short statement issued here the Finance Minister referred to his last meeting with FBR officials and stated that government was open to suggestions from different quarters in this matter in the same spirit which it had exhibited, accommodating proposals for the budget 2016-17.He emphasized that the matter would be amicably addressed through mutual consultations.Meanwhile, Minister Dar also directed officials of the Ministry of Finance to actively pursue implementation of new budgetary measures within the given timelines.He said the government is avidly pursuing the objective of economic growth and has allowed a number of incentives to different sectors including agriculture and industry.Implementation of measures announced in the budget 2016-17 would largely help achieve the goal of inclusive growth, he added.
 The European Union on Tuesday followed the United States to launch a new legal challenge at the World Trade Organization over duties and quotas China imposes on its raw materials exports.The EU said China is violating WTO rules with restrictions on exports of key materials such as graphite, cobalt, chromium and magnesia which help Chinese industry at the expense of European companies and consumers."We cannot sit on our hands seeing our producers and consumers being hit by unfair trading practices," the EU�s top trade official Cecilia Malmstroem said in a statement.The EU launched similar successful actions against China in 2012 and 2014 over rare earths and raw materials like bauxite, zinc and coke.The new challenge targets export restrictions on graphite, cobalt, copper, lead, chromium, magnesia, talcum, tantalum, tin, antimony and indium."The past two WTO rulings on Chinese export restrictions have been crystal clear -- these measures are against international trade rules," Malmstroem said."As we do not see China advancing to remove them all, we must take legal action," she added.In filing a similar action last week before the WTO, the US government said that when China joined the WTO in 2001, it agreed to eliminate such export duties but had failed to follow through on the commitment.The US action covered nine of the 11 materials mentioned in the EU action, excluding chromium and indium.These raw materials are essential for a broad range of industry, from aerospace and car manufacturing to electronics and chemicals.In Washington, the US trade representative�s office said China�s export duties ranged from five to 20 percent, raising prices for overseas buyers while Chinese companies paid much less and had more secure supplies.In addition, the export duties put pressure on non-Chinese manufacturers to shift production, technologies and jobs to China, it said.As with the US challenge, the EU action launches formal consultations with China as a first step to settle the dispute.If the two sides fail to reach a settlement in 60 days, the EU may decide to ask the WTO to establish a panel to determine whether China�s measures are compatible with the Geneva-based body�s rules.The European Commission, the executive arm of the 28-nation EU, is due Wednesday to review trade links with China ahead of a December deadline whereby, under the terms of its WTO accession, the country should be regarded as a normal market economy, not one where the state plays a central role.
 Shares of Japan's Nintendo Co soared another 14 percent on Tuesday, more than doubling the firm's market capitalisation to 4.5 trillion yen ($42.5 billion) in just seven sessions since the mobile game Pokemon GO was launched in the United States.</strongThe phenomenal success of Pokemon GO - now available in 35 countries, the majority in Europe, and most recently in Canada - has triggered massive buying in Nintendo shares, surprising even some seasoned market players."I've never seen the trend of such a big company's shares changing so quickly in such a short period of time," said Takashi Oba, senior strategist at Okasan Securities.Nintendo shares ended Tuesday up 14.4 percent at 31,770 yen, bringing its gains to more than 100 percent since the launch of the game on July 6.Turnover in Nintendo shares hit 703.6 billion yen, surpassing the record for trading turnover in individual shares it set on Friday, of 476 billion yen.Trading in Nintendo shares roughly accounted for a quarter of the entire trading on the Tokyo Stock Exchange's main board.The success of Pokemon GO, unforeseen even by its creators, has boosted hopes that Nintendo could capitalise on a line-up of popular characters ranging from Zelda to Super Mario to strengthen its new foray into augmented reality."Virtual reality and augmented reality have been a focus of the market but hardly anyone was expecting Nintendo in this area. Suddenly Nintendo has become an AR-related stock," said a fund manager at a Japanese asset management firm, who declined to be named as he is not allowed to discuss individual shares.The fund manager said the big gains were justifiable considering the likely boost to Nintendo's bottom line."Under my rough estimate, the sales from Pokemon GO and upcoming related gadgets will boost net profits by 50 billion yen. Based on that assumption, Nintendo is traded at 30 times profits, which is not unreasonable," he said.The popularity of Pokemon GO is producing an unexpected boom in some shares that have a scant link to the game.Shares in First Baking Co, a bakery firm with annual sales of 25 billion yen, saw its shares rise 18 percent on Tuesday as the firm sells "Pokemon Bread" among other breads wrapped with character-decorated bags.
 One of India�s most high-profile Hindu temples said Wednesday it now accepts shares of listed companies as donations in a novel departure from the usual gifts of cash and gold.</strongMumbai�s Siddhivinayak temple, which Apple chief executive Tim Cook visited in May, allows generous devotees to transfer their stocks electronically to an account run by the religious site�s trust."We have opened up a �share and securities� option for devotees globally," trust chairman Narendra Murari Rane told AFP, adding that the stocks would be converted into cash."The stocks cannot be used for trading purposes," Rane explained.Hundreds of thousands of worshippers pray at Siddhivinayak temple -- dedicated to the elephant-headed deity Ganesh -- every day, including Indian cricketers, politicians and Bollywood film stars.Situated in the south of India�s financial capital, it is one of the wealthiest temples in India, receiving donations of around 750 million rupees ($11.19 million) a year in cash, silver and gold.As well as donations, Hindus also seek the blessings of their favoured gods by making religious offerings at shrines, such as fruit, incense sticks and flowers.Rane hopes Indians who like to invest on the Bombay Stock Exchange will be inclined to give some of their shares to Siddhivinayak in the hope that it will boost their fortunes."Many devotees who enter the Indian stock market want an auspicious start. Hence, they might seek blessings by promising to donate shares to the temple," he said.The temple trust decided to pursue the scheme after another temple in the southern state of Andhra Pradesh last year became the first to accept stocks as donations, Rane added.The trust uses donations to finance charitable hospitals and schools for underprivileged societies across India�s western Maharashtra state, of which Mumbai is the capital.
 In a packed Christie's auction room in Geneva, one could hear a pin drop as two anonymous bidders slugged it out in their quest to own the world's most exquisite blue diamond.</strongThe room in the Four Seasons Hotel des Bergues was filled with multi-millionaire collectors and diamond dealers, listening intently as the bidders, each speaking by phone to a Christie's representative, took turns adding a few hundred thousand dollars in a tense struggle dragging on for more than half an hour.When the auctioneer's hammer came down, spontaneous applause broke out as the winner, who retained anonymity, bought the 14.62-carat Oppenheimer Blue for a world record $57.5 million for any jewel sold at auction. The sale some weeks ago was the latest in a series of world record prices per carat paid at auction for extraordinarily magnificent and rare diamonds.With new fortunes being created around the world faster than at any time in history, more of this expanding elite of wealthy investors are looking at different ways of protecting cash that now earns close to zero percent interest in bank accounts, while asset market turbulence can wipe out millions in hours.Some are eyeing rare diamonds as a best friend, or long-term haven at least. And it's no longer just a top table of "super rich" billionaires who are gravitating to this arcane world.A second division of wealthy is emerging. They can't afford the Oppenheimer Blue, perhaps, but they can take a stake in rare diamonds via specialist investment funds.strong>PROFESSIONAL INVESTORS' CLUB ONLY</strongThese gem specialists are keen to play up rare diamonds as "safety" investments, or at least a way to hedge against currency, stock and bond market volatility at a time of political and economic uncertainty. Britain's shock vote last month to leave the European Union underlines their point."The big players are looking at diamonds in a different way," said Ehud Laniado, chief executive of Cora International, which sold the 12.03-carat Blue Moon diamond for $48.4 million at a Sotheby's Geneva sale in November, a world record for any jewel sold at auction at the time."They are not looking at them just as a jewel, but as an asset that has a resale value."Citigroup said the outlook for gold remained uncertain partly due to concerns about a possible increase in U.S. interest rates. In such a scenario, investors may look at a next-best alternative such as diamonds.However, the diamond investors' club is shut to most ordinary savers due to its complicated, insider nature - characterised by poor liquidity, a lack of price transparency and high fees. While some are making efforts to create a liquid market, the process has been slow.Entry level for Sciens Coloured Diamond Fund II, one of the more established closed-end funds now shut to new investors, is $1 million. It invests in diamonds in rare colours such as red.The fund, which manages around $50 million, uses trading and buy-and-hold strategies for long-term appreciation. One of its strategies is to improve the value of stones by finding a rare matching pair in the same colour, size and shape. They are eventually sold to buyers such as jewellers and collectors.Some funds also loan diamonds to jewellers who wish not to maintain a large inventory. If the jeweller decides to make a unique ring for a client, he can buy a diamond from the fund.The Sciens fund, launched in 2014, rose in value by about 5 percent in the second quarter of 2016, said Philip Baldwin, managing director of Sciens Diamond Management BV. He and Mahyar Makhzani run the fund, based on the Caribbean island of Curacao."Colour diamonds are considered a safe haven," he said. "Colour diamonds are a hedge against inflation, currency risk, market fluctuations and political uncertainty."Solitaire Diamond Co, another diamond-backed fund now closed to new investors, is backed by an assortment of white diamonds of high-grade clarity and cut weighing under 5 carats, which are certified by international laboratories such as the Gemological Institute of America.Fred Sinclair-Brown, Solitaire fund manager, said it made a gross margin of 20 percent over the past 12 months, above expectations of 14 to 16 percent. He said he was planning another diamond fund for professional investors, this time possibly backed by coloured gems.strong>INVESTORS SEE SPARKLE IN COLOUR GEMS</strongPrices of vivid and intense colour diamonds have risen 10 to 12 percent a year on average since 1959, according to Baldwin. However, dealers said white diamond prices had not gained as quickly in recent years and were largely flat in 2016.The most prominent white diamond to come to auction recently, the 1,109-carat Lesedi la Rona, failed to sell at Sotheby's in London last month, highlighting that diamond markets are not bulletproof.Diamond markets slowed in the second quarter as selective buyers pushed for deeper discounts. Polished inventory continued to rise and prices came under pressure, while rough trading remained resilient.Despite a handful of diamond-backed initiatives, fund managers have struggled over the years to find the right investment vehicles for diamonds due to illiquidity, a lack of price transparency and high transaction fees."I am very dubious about diamond-backed investment because the price of diamonds is not listed anywhere and the market is too illiquid," said Edmund Shing, strategist at BNP Paribas and former global equity fund manager of BCS Asset Management.Fund managers pointed to very separate markets for white diamonds. While white diamonds can be correlated to the commercial market for bridal jewellery, colour gems are in a unique investment category. Part of the problem with diamond investing is that different categories make it difficult to compile generic prices.A recent Citigroup poll found that about one-third of the respondents were willing to invest in a diamond product having homogeneity and liquidity.Martin Rapaport, head of the Rapaport Group, which has its own polished diamond price list widely used by the trade, is trying to create a more liquid market for investment-grade diamonds by developing a transparent price structure. He hopes to launch a fund backed by diamonds within a couple of years."Diamonds can be a good investment, but you have to be careful," he told Reuters. "You need to know the bid/ask spread, the price you can sell diamonds back on the same day."
 Microsoft said Tuesday it posted a profit of $3.1 billion in the just-ended quarter, swinging back into the black a year after hefty charges from writing off mobile phone assets.</strong"This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations," said chief executive Satya Nadella.
 Another international rating agency has reckoned Pakistan among the top emerging South Asian economies owing to continuity of policies and political stability.</strongAtlantic Media Company (AMC) of the United States has ranked Pakistan as comparatively stronger economy in South Asian Markets and expected it will grow rapidly during days ahead.According to Atlantic s report the Pakistan government�s investment in infrastructure and other developmental projects has caused country�s GDP to grow.It is acknowledged internationally that Pakistan is surfacing as Market leader.Current economic conditions of Pakistan are attracting foreign investors the AMC noted.It said last month American stock index firm MSCI (Morgan Stanley Capital International) also inducted Pakistan in 10 most emerging economies in the world.AMC said during the period January July 2016 Indian 100point index was 6.67% while Karachi Stock Exchange (KSE) had achieved 100 point index to 17 percent.It said security situation in Pakistan has also improved resulting in economic stability.Moreover US 46 billion investments in China Pakistan Economic Corridor (CPEC) will help Pakistan overcome the chronic problems like power crisis and unemployment.According to the report Pakistani economy has been ranked as the best among all the South Asian countries including Bangladesh India Sri Lanka and Nepal.It said KSE 100 index has been performing best among Asian markets during 2016 ranked as world s 5th best stock market.Earlier American Media outfit Bloomberg has already declared Pakistan as Asian Tiger in its recent report while Moodys had revised Pakistan�s ratings upward from C to B.
 Gold hit a three-week low on Thursday, after falling more than 1 percent in the previous session, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets.</strongAsian stocks climbed to nine-month highs on Thursday, helped by a pickup in capital inflows and a recovery in global oil prices, while the dollar stood strong on U.S. equity market gains.Spot gold fell 0.1 percent at $1,314.20 an ounce by 0406 GMT. It touched a low of $1,310.56 earlier in the session, its lowest since June 28. Bullion fell 1.2 percent on Wednesday.U.S. gold was down 0.4 percent at $1,314.20 an ounce."Stock markets are moving up which is not good for gold. We expect prices to scale down a little more. I don't think prices will stabilize before next week's U.S. Federal Reserve meeting," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.Spot gold has found a support at $1,313 per ounce, and may hover around this level temporarily before falling towards the next support at $1,298, according to Reuters technical analyst Wang Tao."Thin summer trading conditions may be as important a reason for gold edging lower than renewed expectations for a rate rise this year," HSBC analyst James Steel said in a note."In quiet conditions the gold market may gravitate to the vicinity of large round numbers, with $1,300/oz the closest and most obvious."Meanwhile, the European Central Bank is all but certain to keep rates firmly on hold on Thursday, when announcing its rate decision due at 1145 GMT."With gold looking increasingly shaky on the charts, all eyes will turn to the ECB policy meeting. Should the central bank signal a more accommodative policy, we could see gold get a bit of a lift despite the fact that the dollar could strengthen as a result," said INTL FCStone analyst Edward Meir.Spot silver was on track for its sixth straight session of losses, tying a streak in December 2015. It fell 0.7 percent to $19.26 an ounce.Platinum, which hit a two-week low on Wednesday, was down 0.3 percent to $1,076.60.Palladium, which hit its highest in nearly nine months on Wednesday, was down 0.5 percent at $666.35 per ounce.
 The production of jeeps and cars witnessed growth of 21.57 percent in production during the first eleven months of the current fiscal year, compared to the corresponding period of last year.</strongAs many as 168,363 jeeps and cars were manufactured during July-May (2015-16) compared to the production of 138,490 units during July-May (2014-15), showing a surged of over 21.57 percent, according to the data of Pakistan Bureau of Statistics (PBS).The production of Light Commercial Vehicles (LCVs) also witnessed positive growth of 35.65 percent by going up from the output of 24,794 units during last year to 33,632 units during the current year.The production of motorcycles increased by 16.65 percent during the period under review. The production of motorcycles stood at 1,873,491 units during the first eleven months compared to the production of 1,606,075 units during the corresponding period of last year.The production of buses increased by 85.79 percent by going up from 535 units last year to 994 units during the current fiscal year whereas the production of trucks increased by 37.11 percent from 3,694 units last year to 5,065 units during the current fiscal year.However, the production of tractors during the period declined by 30.84 percent by going down from the output of 45,332 last year to 31,350 this year.Meanwhile, on year-on-year basis, the production of jeeps and cars witnessed negative growth of 4.59 percent by going down from the production of 15,890 units in May 2015 to 15,161 units in May 2016.The production of LCVs declined from 3,599 units during May 2015 to 2,114 units during May 2016, showing negative growth of 41.26 percent.The production of motors cycles increased by 11.35 percent during May 2016. The production of motorcycles in May 2016 stood at 181,358 units compared to the production of 162,868 units in May 2015.The production of buses and trucks during the month under review increased by 113.33 percent and 8.50 percent respectively compared to the same month of last year.As many as 128 buses and 587 trucks were manufacture during May 2016 compared to the production of 60 and 541 units respectively.The production of tractors increased by 14.34 percent in May 2016 during which the output was recorded at 4,735 units compared to the production of 4,141 units in May 2015, the PBS data revealed.Meanwhile, the overall Large Scale Manufacturing (LSM) sector has witnessed growth of 3.45 per cent during the first 11 months of the year 2015-16 as compared to the corresponding period of last year.The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 132.80 points during July-May (2015-16) against 128.37 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS).The highest growth of 2.21 percent was witnessed in the indices monitored by Ministry of Industries followed 1.24 percent increase in indices of Provincial Bureaus of Statistics (PBOS) while the indices of Oil Companies Advisory Committee (OCAC) decreased by 0.003 percent.On year-to-year basis, the industrial growth however decreased by 1.49 percent during May 2016 as compared to same month of last year while on month-to-month basis, the industrial growth decreased by 3.47 percent during May 2016 when compared to growth of April 2016, the data revealed.
 The textile sector exports from the country declined by 7.42 per cent during the Fiscal Year 2015 16 as compared to same period of the year 2014 15. The textile exports during the period July June (2015 16) were recorded at US 12.455 billion compared to that of 13.453 billion in same period of the preceding year Pakistan Bureau of Statistics data revealed on Friday.</strongRaw cotton and cotton yarn remained the major contributor of decline in the textile exports as their exports witnessed decrease of 47.89 per cent and 31.77 per cent respectively.It may be recalled that cotton production in the country during last season declined sharply in Punjab due to unprecedented weather conditions.The export of readymade garments however showed a positive sign as it rose to 2.196 billion in July June (FY 16) from 2.095 billion in same period of the year 2014 15 thus showing an increase of 4.83 per cent.Details show that towels exports witnessed nominal decrease of 0.41per cent as it went down from 797.155 million in previous fiscal year to 793.898 million in FY 16. Likewise knitwear export decreased from 2.406 billion in July June (2014 15) to 2.369 million in the year 2015 16 thus showing a decrease of 1.54 per cent.The export of bed wear also declined by 4.14 per cent from 2.103 billion in 2014 15 to 2.016 billion in the year 2015 16. Similarly yarn and other than cotton yarn export decreased by 23.48per cent from 42.828 million to 32.774 million while cotton cloth export decreased by 9.71 per cent as it went down from 2.452 billion in July June (2014 15) to 2.214 billion in same period of the year 2015 16. Tents canvas and tarpaulin export also witnessed decline of 28.06 per cent which went down to 91.055 million during the period under review from 126.575 million in the preceding year.Export of art silk and synthetic textile decreased by 12.89 per cent from 330.584 million to 287.973 million during July June (2015 16).
 Shares slipped in early Hong Kong trade Friday following a first loss for the Dow on Wall Street in six sessions, while investors also cashed in profits following a recent rally.</strongThe Hang Seng Index eased 0.40 percent, or 87.45 points, to 21,913.04.And the benchmark Shanghai Composite Index was marginally lower, dipping 0.89 points to 3,038.12, while the Shenzhen Composite Index, which tracks stocks on China�s second exchange, eased 0.05 percent, or 0.93 points, to 2,037.25.
 The International Monetary Fund (IMF) has warned risks to the global economy are growing, as it called on some G20 nations to boost government spending.</strongCentral bank chiefs and finance ministers from the world�s top 20 economies gathered in the southwestern Chinese city of Chengdu on Saturday to tackle a slowing global economy facing new uncertainties with Britain voting to leave the European Union (EU)."Global growth remains weak, and downside risks have become more salient," the IMF said in a report released ahead of the G20 meeting."Growth could be even lower if the current increases in economic and political uncertainty in the wake of the �Brexit� vote continue."In an update to its April forecast, the IMF lowered its forecasts for global growth this year and next by 0.1 percent, to 3.1 percent and 3.5 percent respectively.Britain�s new finance minister Philip Hammond is among those attending to deliver a message that his country is still "open for business", according to a statement from the British treasury.The IMF wants advanced economies like Germany and the United States to channel more public spending into infrastructure investment to help boost global growth, an issue that has sparked divisions among G20 members."Reforms that facilitate the scaling up of infrastructure investment would help raise productive capacity, boost short-term demand directly, and catalyse private investment," it said.strong>- Terrorism, Turkey, Trump -</strongBut other challenges loom besides Brexit, including what one official attending referred to as the "Three Ts" -- terrorism, Turkey and Trump.The recent attack in the French city of Nice which killed 84 people, the third major incident in the European country over the past 18 months, has rattled financial markets, and a gunman in the German city of Munich killed nine people on Friday.A failed coup in Turkey which had aimed at unseating President Recep Tayyip Erdogan, and his huge subsequent crackdown on opponents, has alarmed Ankara�s Western allies.Speaking at a G20-linked tax seminar on Saturday, Turkey�s Deputy Prime Minister Mehmet Simsek sought to reassure other countries."Despite what has happened a week ago in Turkey... we will continue to strongly adhere to democratic principles and apply rule of law, and not much really has changed," he said.Tycoon Donald Trump sealing the Republican party nomination in the US presidential race, where he will face Democrat Hillary Clinton, could add uncertainty if the contest is close.At an earlier G20 meeting in February, finance ministers vowed to use "all policy tools" -- monetary, fiscal and structural -- to support economic growth."The G20 process has given us greater ability to focus globally on how to use the different tools at our disposal to promote growth," US Treasury Secretary Jacob Lew told the tax seminar.But with the use of monetary policy reaching its limits in some countries, analysts see more room for using fiscal measures."As to stimulus, we actually do not expect much monetary stimulus ahead in the major advanced economies other than in Japan," Louis Kuijs, head of Asia economics at Oxford Economics in Hong Kong, told AFP ahead of the G20 meeting."But I do think that the likelihood of fiscal policy easing is rising globally."
 The post-Brexit blues continued as the British pound declined further against other major currencies on Friday.</strongThe decline of the composite Purchasing Managers Index to 47.7 this month from 52.4 in June, its lowest level since April 2009, was the first evidence that Britain was entering a downturn, according to Samuel Tombs of Pantheon Macroeconomics."If the PMI remains at July�s level in August and September, it will be consistent on past form with a 0.4 percent quarter-on-quarter decline in GDP" in the third quarter, said Tombs.The pound sterling was down 0.9 percent against the US dollar at $1.3112 and down 0.9 percent against the yen at 139.21, while the euro was up 0.4 percent against the pound at 83.71 pence.
 Britain�s vote to leave the European Union heightens risks for the world economy, finance chiefs from the G20 group of leading countries said Sunday at a meeting in China.The outcome of last month�s referendum "adds to the uncertainty in the global economy", the meeting�s host, Chinese finance minister Lou Jiwei, said after it concluded.But he added that EU member countries were "well positioned to proactively address the potential economic and financial consequences stemming from the UK referendum".The issue has come to the forefront of the G20�s concerns at the meeting in Chengdu, the last before the grouping�s annual summit, to be held in the Chinese city of Hangzhou in September.Ahead of the meeting the International Monetary Fund (IMF) downgraded its forecast for global growth this year, and officials in Chengdu said protracted talks between the EU and Britain over the departure could heighten risks."It won�t mean that they�ll get there in a week or a month. It�s a process that could take longer," a senior US Treasury official told journalists on Saturday."The thing that would be very disruptive to confidence is if this becomes a highly confrontational process," he said.Britain�s new finance minister Philip Hammond on Saturday met his German counterpart Wolfgang Schaeuble and tweeted: "We agree we need a deal that works for the people of Britain &amp; Germany."At a family photo on Sunday, Hammond was seated in the front row, but spent most of the event conversing only with one of his neighbours, World Bank president Jim Yong Kim.The IMF has expressed alarm over Britain�s looming departure from the EU.<br/> "�Brexit� marks the materialisation of an important downside risk to global growth," IMF staff said in a report ahead of the meeting.The IMF recently lowered its forecasts for global growth this year and next by 0.1 percentage point, to 3.1 percent and 3.4 percent respectively."But with �Brexit� still very much unfolding, more negative outcomes are a distinct possibility," the report said.Other challenges threaten: a slowdown in the Chinese economy, as well as terrorist attacks and the failed coup in Turkey -- which have rattled financial markets.China�s economy, the world�s second largest, is caught in a fundamental transition to making domestic consumption the key driver instead of massive public spending and cheap exports.At an earlier meeting in Chinese commercial hub Shanghai in February, the G20 finance chiefs agreed to use "all policy tools" including monetary easing, fiscal spending and structural change to boost growth.The IMF has called on some countries, notably Germany and the United States, to boost spending on infrastructure, which has been opposed by Berlin."The world economy is beleaguered with many serious problems," China�s Lou said on Saturday."We should make monetary policy more forward-looking and transparent, enhance the effectiveness of fiscal policy... so as to support stronger recovery of the world economy."
 Oil prices dipped on Monday, extending last week�s losses on fresh worries about a global supply glut as more US rigs come back online and the dollar strengthens.</strongBoth contracts sank Friday after a report showed the number of active US installations rose for a fourth straight week as firms are tempted to reopen them by the relatively higher prices.However, the increase in production adds to an already painful oversupply crisis.�Crude oil markets have been under pressure as oil supplies have started growing with the resumption of output from the capacity lost due to wildfires in the Canadian oil sands,� EY oil and gas head Sanjeev Gupta said in a note, referring to blazes that hit the country�s key oil fields.Canada is the largest supplier of crude to the United States.Gupta said media reports of increased production from Iraq have also added to market pressure.At about 0300 GMT, US benchmark West Texas Intermediate was down six cents at $44.13 a barrel and Brent was also six cents lower at $45.63.Official US data last week showed that while crude supplies decreased, gasoline supplies remained high even during the crucial summer holiday driving season.�The general tone for the market at the moment is soft to sideways,� Ric Spooner, a chief analyst at CMC Markets in Sydney, told Bloomberg News.
 Tokyo stocks opened higher Monday, tracking a solid lead from Wall Street and with investors pinning their hopes on a fresh round of Bank of Japan stimulus later this week.</strongThe benchmark Nikkei 225 index rose 0.17 percent, or 28.56 points, to open at 16,655.81, while the broader Topix index of all first-section shares gained 0.23 percent, or 3.08 points, to 1,330.59.<br/><br/
 US consumer sentiment held steady in July, helped by soaring stocks and undeterred by global worries over Britain�s vote to leave the European Union, the Conference Board reported Tuesday.The Board�s monthly consumer confidence index stood at 97.3, down from 97.4 in June, with a rise in consumer views of the current situation in the economy.That was above the 91.0 level of one year ago, but still below last September�s 12-month high of 101.3.In July, there was a slight fall in views of the picture six months down the road, with more people expecting business conditions to slow somewhat.Fewer of the consumers surveyed said they planned to buy cars or homes or take vacations over the next six months, suggesting caution in the market."Consumers were slightly more positive about current business and labor market conditions, suggesting the economy will continue to expand at a moderate pace," said Lynn Franco, director of indicators at The Conference Board."Expectations regarding business and labor market conditions, as well as personal income prospects, declined slightly as consumers remain cautiously optimistic about growth in the near-term."
 Scientists from India, the United States and Japan have struck upon a large natural gas deposit in the Bay of Bengal, the first potentially producible discovery of its kind in the Indian Ocean.</strongA research expedition carried out jointly by the three countries discovered the natural gas hydrate -- an ice-like form of the fuel -- off India�s east coast, the United States Geological Survey (USGS) said in a statement Monday.Energy-hungry India is heavily dependent on imports to meet its oil and gas needs and is hungry to secure more of its own supplies."The results from this expedition mark a critical step forward to understanding the energy resource potential of gas hydrates," said USGS Senior Scientist Tim Collett.The discovery in the sand reservoirs of the Krishna-Godavari Basin contains "what we believe to be several of the largest and most concentrated gas hydrate accumulations yet found in the world," Collett said.The amount of natural gas locked in hydrate form worldwide is believed to be far greater than the volume of all known conventional gas resources, USGS said.Yet producing the fuel from hydrates is extremely technically challenging."Advances like the Bay of Bengal discovery will help unlock the global energy resource potential of gas hydrates as well help define the technology needed to safely produce them," said Walter Guidroz, USGS Energy Resources Program coordinator.The next steps will involve testing to determine if production of the deposits is practically and economically viable.The expedition involved experts from India�s Oil and Natural Gas Corporation and USGS as well as Japanese drilling and marine-earth specialists.
 American Ambassador David Hale visited Pakistan Stock Exchange in Karachi on Tuesday and rings the bell to open the trading.</strongAccording to the U.S. Census Bureau, in 2015, the United States was Pakistan�s largest bilateral export market, and Pakistan enjoyed a nearly $2 billion trade surplus.� Total trade was worth $5.5 billion.Meanwhile, there was bullish trend at Pakistan Stock Exchange at the start of business with increase of one hundred seventy points in hundred index which reached the 39190 points.Last month, Morgan Stanley Capital International (MSCI), the US equity indices provider, had included Pakistan Stock Exchange in its benchmark emerging-market index that is likely to attract multimillion dollars of portfolio investment in the Asia�s best performing market.
 Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Wednesday Pakistan State Oil (PSO) the public sector oil marketing company was struggling to recover dues from different entities of power sector which had swelled to Rs 146.6 billion.Speaking during the question hour in the Senate the minister said in addition to the outstanding principal the PSO had price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.He said WAPDA, PEPCO owed Rs 104.30 billion HUBCO Rs 39.5 billion KAPCO 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.He said the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion.The major reason for reduction in the circular debt balance was that the government injected Rs 40 billion in January last year on behalf of the Power Sector.Moreover the Ministry of Water and Power put in place an arrangement with effect from February 07 2015 to deter further accumulation of the circular debt wherein payments against furnace oil supplies were being made to the PSO within seven days.He said under such arrangement payment of Rs 293 billion had been received by the PSO against supplies worth Rs 308 billion made to the Power Sector from February 07 2015.
 Finance Minister Ishaq Dar expressed the resolve to say goodbye to International Monetary Fund after completion of 12th review of its programme for Pakistan starting from Wednesday, July 27.</strongThe Finance Minister said the money of Pakistanis in the Swiss Banks would be brought back to the country.In an interview with Hamid Mir, the host of Geo News popular show �Capital Talk�, the finance minister hoped to reach an understanding with the Swiss Government soon to get information about such money in their banks under a multi-lateral agreement.�Swiss authorities had done away with their four conditions and agreed to exchange information to this effect,� the minister said.He said on behalf of Prime Minister he is in contact with all the political parties to help resolve all the national issues adding �he has very good relationship with opposition parties.�
 The third round of Pakistan-Turkey Free Trade Agreement (FTA) negotiations was held at the Ministry of Economy, Ankara, from 25-27 July 2016.</strongMrs. Robina Athar, Additional Secretary (Trade Diplomacy), Ministry of Commerce, led the Pakistan delegation, comprising officials of Ministry of Commerce, Board of Investment and Federal Board of Revenue. The Turkish side was led by Mr. Husnu Dilemre, Deputy Undersecretary, Ministry of Economy, Government of Turkey.The Consul General of Pakistan in Istanbul Dr. Yusuf Junaid and Ambassador to Turkey Sohail Mahmood also joined.The two sides discussed draft texts for Agreements on Trade in Goods, Services and Investments. During the negotiations, matters pertaining to tariffs, customs facilitation, safeguard measures, rules of origin, tariff reduction modality, bilateral investment mechanisms, and services were discussed extensively. Both sides expressed satisfaction at the progress made in the negotiations so far.Building upon excellent political relations and vision of the political leadership of the two countries to forge a strong economic partnership, both sides agreed to continue to pursue FTA negotiations on a fast-track basis, with a view to spuring development through enhanced levels of bilateral trade.The decision to initiate negotiations for a comprehensive bilateral Free Trade Agreement (FTA) -- covering trade in goods, services and investments -- was taken at the 4th Session of the High Level Strategic Cooperacion Council (HLSCC) in Islamabad in February 2015, co-chaired by the Prime Ministers of Pakistan and Turkey.After holding the inaugural session of FTA negotiations in Ankara in October 2015, the two sides signed the �Framework Agreement� for the FTA in Islamabad in March 2016.Both sides have decided to hold the next round of FTA talks in Islamabad in August 2016.
 Boeing Co could end production of the iconic 747 aircraft as the world's biggest plane maker fights falling orders and pricing pressure on the plane, according to a regulatory filing on Wednesday.</strongBoeing also canceled plans to increase production of the 747 to one plane per month from 2019, and stuck to its earlier plan of halving the production rate in September 2016. http://bit.ly/2as8Z9kProduction rate on the 747, which was at 1.5 per month in June 2015, has gradually dropped to 1 a month in July 2016, signaling bad news for the jet's future plan.The company reported smaller-than-expected second-quarter loss on Wednesday helped by strong performances in its jetliner and defense businesses.Boeing warned last week it planned to take $3 billion in pretax charges related to its 787, 747 and KC-46 tanker aircraft programs.Nicknamed 'Jumbo Jet' and 'Queen of the Skies,' the wide-body aircraft is a sought after one among heads of state, including the U.S. President, whose Air Force One is a variant of the 747.The latest version of the 747, capable of traveling the length of three FIFA football fields in a second, is used by Cathay Pacific, Lufthansa and Air China amongst others.
 Jeff Bezos, the founder and chief executive of Amazon.com Inc (AMZN.O), has become the world's third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc (BRKa.N).</strongBezos' fortune was $65.3 billion as of 4:30 p.m. EDT (2030 GMT) on Thursday, compared with Buffett's $64.9 billion.Microsoft Corp (MSFT.O) co-founder Bill Gates remained the world's richest person, at $77.7 billion, while Spain's Amancio Ortega, who founded the Zara clothing chain's owner Inditex SA (ITX.MC), was second at $72.7 billion. Facebook Inc (FB.O) co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion.Bezos, 52, owns close to 18 percent of Amazon. Its stock has risen by roughly 50 percent since early February, as the world's largest online retailer continued to upend retailing as more people took to the Web rather than the mall to shop.Amazon's share price rose further in after-hours trading, after the Seattle-based company reported better-than-expected second-quarter results.Buffett, 85, owns close to 18 percent of Berkshire, but his donation this month of $2.86 billion of Berkshire stock to the Bill &amp; Melinda Gates Foundation and four family charities led to his drop to fourth place. He has donated more than $24.3 billion to the Gates Foundation and family charities since 2006.Berkshire is based in Omaha, Nebraska, and has roughly 90 business units including Geico car insurance, the BNSF railroad and Dairy Queen ice cream.In June, Buffett called Bezos a "classic example" of how a business owner could thrive, by having focused at Amazon on how to "delight" customers, and keep them coming back, rather than simply process their orders.
 Pakistan International Airlines (PIA) has formalized wet leasing of three A 330 aircraft from Sri Lankan Airlines.</strongAt a ceremony held in Colombo on Friday CEO Bernd Hildenbrand signed the contract with Chairman Sri Lankan Airlines Ajith Diasand CEO Capt. Suren Ratwatte said, press release received here.The contract has materialized after a series of negotiations between the two sides.First of these aircraft would he delivered during the next week while the rest in following months.These aircraft are in brand new condition and would be used for PIA Premier giving passengers a better experience allowing PIAto start regaining its market share.PIA Premier is scheduled to be launched on August 14 initially only to London.There would be six weekly Premier Service flights to London including three from Islamabad and three from Lahore.Later with addition of more aircraft the service would be expanded to other destinations.Chairman Azam Saigol appreciated the efforts of the PIA team led by Hildenbrand in finalizing this contract.
 The federal government has decided against raising the tariffs of petroleum products despite Oil and Gas Regulatory Authority�s (OGRA) recommendation to raise prices, Finance Minister Ishaq Dar said on Saturday.OGRA had put forward a summary to the petroleum ministry proposing an increase in petrol prices by Rs2.12. According to the summary, the authority had recommended increasing the price of kerosene oil by Rs3.94, high-octane by Rs0.60 and high-speed diesel by Rs0.26.Speaking to reporters in Islamabad today, Finance Minister Ishaq Dar said that OGRA's summary was rejected after Prime Minister Nawaz Sharif directed not to raise the prices.He said that the current petroleum prices would remain unchanged until August 31, 2016. Dar further said that petroleum prices in Pakistan were the lowest in the region.Talks on property valuation successfulNegotiations between the finance minister and property dealers also concluded successfully today, with both sides agreeing to the role of the Federal Board of Revenue (FBR) in the determination of fair market value of property.According to the finance minister, tax will be applicable if property, bought on or after July 1 this year, is sold before the passage of three years.He said it was also agreed in the talks that withholding tax will be applicable on properties worth Rs0.4 million, and not Rs0.3mn as previously proposed.�
 State Bank of Pakistan kept its key policy rate unchanged at 5.75 percent on Saturday, citing steady remittances and low oil prices.</strongState Bank of Pakistan Governor Ashraf Mahmood Wathra also told a news conference that foreign direct investment is projected to increase as work on projects under the $46 billion China Pakistan Economic Corridor gains momentum.In the previous Monetary Policy Statement in May the interest rate was reduced by 25 basis points from 6 per cent to 5.75pc.The SBP announces a target rate every two months, which serves as the benchmark interest rate for overnight funds in the interbank market. It is one of the tools that the central bank uses to ensure price stability in the economy.
 Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.</strongThe benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent."Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday�s close.Overnight rates in the money market fell to 5.40 percent from Friday�s close of 6.30 percent.
 International financial market analysis firm BMI says that Pakistan will be developed as manufacturing hub over the coming years.</strongAccording to a Business Monitor International report, Pakistan will be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report reveals that Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in coming years.BMI says textile and automotive sectors in Pakistan are showing the fastest growth rate.The domestic manufacturing investment is also expected to be boosted considering the lower energy prices and an improved domestic energy supply.Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in the coming years. In the beginning of BMI�s Forecast period the textile and automotive sector presented a faster growth.The domestic manufacturing investment is expected to be boosted considering the lower energy prices and an improved domestic energy supply.
 The Jewellary exports from the country increased by 28.78 percent during the fiscal year 2015 16 compared to the corresponding period of last year.</strongThe overall exports of jewellary from the country during July June (2015 16) were recorded at 8.492 million compared to the exports of 6.594 million in July June (2014 15) according to Pakistan Bureau of Statistics (PBS).Meanwhile on year on year basis the jewellary exports increased by 183.55 million in June 2016 compared to the exports of June 2015. The Jewellary exports during June 2016 were recorded at 1.310million in June 2016 compared to the exports of 0.462 million in June 2015. On month on month basis the exports of jewellary increased by18.23 percent in June 2016 when compared to the exports of 1.108million in May 2016, the PBS data revealed.Meanwhile the gem exports from the country declined by 49.72percent during the fiscal year 2015 16 by going down from 7.846million last year to 3.944 million during the current year.On year on year basis the exports of gems however decreased by 30.83 percent in June 2016 to 0.249 million compared to the exports of 0.360 million.While as compared to the exports of 0.487 million in May2016 the exports of gems in June decreased by 48.87 percent.It is pertinent to mention here that the overall mercantile exports from the country declined by 12.11 percent during the year2015 16 as compared to same period of previous year.The country s exports went down from 23.667 billion in July June (2014 15) to 20.802 billion during corresponding period of the year 2015 16.
 Tokyo stocks opened lower Monday, despite a mostly solid lead from Wall Street after the Bank of Japan last week disappointed investors with underwhelming tweaks to its stimulus programme.</strongThe benchmark Nikkei 225 index slipped 0.93 percent, or 153.96 points, to open at 16,415.31, while the broader Topix index of all first-section shares lost 1.09 percent, or 14.44 points, to 1,308.30.
 The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.</strongThe valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.The valuation shows various categories of open and constructed plots.
 The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday.</strongCustoms and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey�s economic fundamentals were solid."Warplanes, helicopters, weapons, bombs, buildings: 300 billion lira. Maybe I am underestimating a bit," he said, referring to the heavy destruction on the night of the coup."It might go up even more," he said.But the minister warned that the entire picture should be seen in a medium-term context even if some investors had been put off in the short-term."The putschists made Turkey seem like a third world country," he fumed."They (investors) are not coming after the images revealed tanks were deployed on the streets, parliament was bombed," he said, adding that some foreign orders had been cancelled in the wake of the coup.But Tufenkci said despite all this Turkey had managed to control the situation."Had the coup taken place in another country, markets would not have opened earlier than in a week," he said. The coup took place on Friday July 15 but financial markets in Turkey opened as normal after the weekend."The interest rates didn�t rise extraordinarily. The stock exchange�s losses have been limited. There�s no need to revise growth or export figures. The nation has stood firm."The government has suspended annual leave of public sector personnel in the wake of the coup attempt, blamed by the government on supporters of US-based Islamic preacher Fethullah Gulen.This measure has affected the tourism industry, already hit by foreigners staying away over security fears after a spate of attacks as well as a crisis with Russia."Because of a ban on annual leave, one million (tourism) reservations had been cancelled," the minister said.The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year but there is optimism the Russians will come back after Ankara mended fences with Moscow."From now on tourism will also rally," said Tufenkci.
 The Pakistan State Oil (PSO) has received Rs 293 billion payment against supplies amounting to Rs 308 billion made to different power sector entities during last 16 months.</strongThe government is making all out efforts to avoid further accumulatation of the PSO receivables which are around Rs 146 billion, official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.They informed that the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion after the government injected Rs 40 billion on behalf of the power sector entities.Besides the government evolved an effective strategy to ensure payments against the furnance oil supplies to the PSO within seven days aimed at avoiding further accumulation of the circular debt.Commenting on the PSO�s receivables they said in addition to the outstanding amount the PSO had the price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.The sources said WAPDA, PEPCO owed Rs 104.30 billion, HUBCO Rs39.5 billion, KAPCO Rs 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.
 Minister for Finance Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government s strong commitment in implementing difficult structural reforms in the areas of taxation energy monetary financial sectors and public sector enterprises.</strongFinance Minister Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger IMF Mission Chief here.Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3 year Extended Fund Facility (EFF) programme for an amount of 6.4 billion.Highlighting the overall programme performance of Pakistan the Finance Minister said Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory.We met the end June 2016 Quantitative Performance Criteria on Net International Reserves Foreign currency swap forward position and government borrowing from SBP by significant margins.The targets on Net Domestic Assets and budget deficit were missed marginally he remarked.Finance Minister Ishaq Dar said that the indicative target for end June 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met.He informed that Federal Board of Revenue (FBR) not only achieved its annual target of Rs. 3104 billion but exceeded it.
 At an Innisfree cosmetics store in Seoul's popular Myeongdong shopping district, a saleswoman helps 21-year-old Chinese tourist Yang Hui carry her shopping baskets to the pay desk in front of a large display showing K-Pop star Yoona</strong>."There's a lot to choose from," said Yang, confessing to having bought more than she'd planned from the store's range of around 900 products.South Korea's top cosmetics company Amorepacific Group (002790.KS) launches some 400 new Innisfree branded products a year, about half of which are no longer available a year later.It's one of dozens of Korean mass cosmetics brands with a short product development cycle - a "fast beauty" approach that is increasingly popular among Chinese and other Asian millennials, gaining exposure in the United States and Europe, and attracting high-profile foreign investment.South Korea has become a hot-bed for applying to cosmetics the "fast fashion" principles of shifting designs quickly from catwalk to Main Street to capitalise on new trends.Thousands of small cosmetics firms compete to get their new products to market, with third-party manufacturers cutting the time on testing and recipe alignment and providing the capacity for swift market launch.Korean brands have cut product development cycles to as little as four months, compared to over a year for global brands, industry experts say."When we received an eyeshadow order from a major global client in 2004, it took us two years to begin production. Now it takes us one year from the word go," said Lim Dae-gyu, a director at Cosmax Inc (192820.KS), a cosmetics manufacturer with annual sales of close to $500 million."For South Korean mass brands, it takes less - just 4-6 months from planning to market launch is average," Lim added.strong>WINNING FORMULA</strongSouth Korea last year overtook the United States and Japan to become the No. 2 cosmetics exporter to China after France. It shipped $1.1 billion worth of skincare creams, facial masks, compacts and other cosmetic products to the world's second-largest economy, according to the Ministry of Food and Drug Safety.South Korea's total cosmetics exports were worth $2.59 billion, up 44 percent from 2014, with Hong Kong and the United States its second- and third-biggest markets, a long way behind China.Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists. Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.The trade is not without its downside. To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said. Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory."New ingredients, new packaging, new formulas come on the market continuously, and when something does well Korean brands respond quickly," said Jang Jun-kee, managing director of the Korea Cosmetics Foundation, an industry group.Amorepacific's 2008 hit product, the cushion compact - a multifunctional sponge applicator for anything from liquid facial cover and sun protection to make-up base and moisturiser - inspired follow-up products from global brands such as L'Oreal's (OREP.PA) Lancome and Estee Lauder's (EL.N) Clinique.Innovative, often cute, packaging also helps.The Face Shop, a mass brand from South Korea's second-ranked cosmetics firm LG Household &amp; Health Care (051900.KS), said last month it sold out of its initial 130,000 cushion compacts featuring Disney characters - costing 20,000 won ($17.82) - in just two days. It said it expects to launch about 600 new products this year.Beyond popularising beauty trends such as facial cosmetic products "BB cream" and "CC cream", South Korea has a reputation for innovation and for using natural and Oriental medicine ingredients from flowers and tea leaves to donkey milk, snail and seahorse to differentiate its so-called K-beauty products."Korean consumers are very sophisticated. Their interest in beauty and expectations of cosmetics are high and they are willing to try new concepts," L'Oreal Korea said in emailed comments to Reuters. "It's a market where new trends emerge before potentially going global."strong>CHINA FOUNDATION</strongFor foreign investors, buying into the Korean success story is a convenient way also into China, where locals can't get enough of Korean TV dramas and K-Pop music."We find beauty and media-entertainment sectors to be the most exciting (in Korea)," said Ravi Thakran, the chairman and managing partner at L Capital Asia, a unit of LVMH (LVMH.PA), which last month became a major shareholder in South Korean colour cosmetics brand CLIO.�"The popularity of Korean culture such as K-Pop, dramas and celebrities boosted significant demand for Korean beauty products in China and other Southeast Asian countries," he added.Beyond China, Korean cosmetics have also moved into chains including LVMH's Sephora, Target (TGT.N) and Urban Outfitters (URBN.O), according to Korea's state-run trade agency KOTRA.The LVMH unit's investment in CLIO came just weeks after Goldman Sachs (GS.N) and Bain Capital Private Equity said they were buying a majority stake in unlisted cosmetics maker Carver Korea Co Ltd.($1 = 1,107.9000 won)
 The International Monetary Fund (IMF) has announced it will release the last instalment of a $6.6 billion economic bailout package to Pakistan, as Prime Minister Nawaz Sharif hailed an end to the country�s reliance on the lender.</strongThe decision to release the final tranche worth $102 million of the three-year programme came after a review of the country�s economic performance that found it was meeting most reform indicators but still needed to broaden the tax net.IMF delegation head Harald Finger said growth was projected to reach five percent supported by a construction boom linked to the China Pakistan Economic Corridor, an ambitious infrastructure upgrade project intended to link China�s western Xinjiang region to Gwadar port on the Arabian Sea."All indicative targets and structural benchmarks (SB) were met, except for the delayed notification of multi-year tariffs for three power distribution companies," Finger said Thursday in Dubai, referring to measures intended to reduce major fluctuations in electricity costs.The release of the final tranche is subject to approval by the IMF�s executive board though that is considered a formality.In Islamabad, Sharif told lawmakers from his party that his government had ended the country�s reliance on foreign multilateral assistance and was saying "goodbye" to the Fund."With the grace of God, we will say goodbye to IMF after this (agreement)," he said.Sharif had been under pressure from the opposition for seeking the loan in 2013 because its conditions included forcing the government to raise taxes and energy prices.The IMF note cautioned however that to consolidate and reinforce the gains achieved in the last three years, it was important to "strengthen public finances and external buffers, broaden the tax net, (and) improve public financial management," among other measures.
 Tokyo stocks climbed in early trading Friday as a weaker yen boosted exporters, while Toyota surged on forecast-beating quarterly net profits.</strongThe world�s biggest automaker said Thursday it posted a nearly 15 percent drop in its April-June net profit, citing a sharp rally in the yen and falling North American vehicle sales.Toyota, which also trimmed its full-year profit and sales forecast, soared 2.61 percent to 5,840 yen in early deals.The Bank of England Thursday announced its first interest rate cut in more than seven years and a fresh stimulus package to counter the fallout from Britain�s vote to quit the European Union.Those measures lifted the mood among Japanese investors, who are now focused on US monthly employment figures due later in the day, analysts said."The BoE (Bank of England) has taken the stance that they�ll do everything they can in terms of stimulus in the face of uncertainty," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News."An easing situation is more likely to continue across the globe, and this is positive for Japanese stocks."In early deals, the benchmark Nikkei 225 index gained 0.51 percent, or 82.73 points, to 16,337.62, building on a sharp gain of more than one percent the previous day.The broader Topix index of all first-section shares was up 0.42 percent, or 5.39 points, at 1,288.38.In forex markets, the dollar jumped to 101.33 yen from 101.22 yen Thursday in New York.<br/>In European stock trading, London, Frankfurt and Paris rose on Thursday on the news of the BoE measures.On Wall Street, the Dow closed down less than 0.1 percent, while the broad-based S&amp;P 500 ticked less than 0.1 percent higher and the tech-rich Nasdaq advanced 0.1 percent.
 Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.</strongThe benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent."Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday�s close.Overnight rates in the money market fell to 5.40 percent from Friday�s close of 6.30 percent.
 International financial market analysis firm BMI says that Pakistan will be developed as manufacturing hub over the coming years.</strongAccording to a Business Monitor International report, Pakistan will be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report reveals that Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in coming years.BMI says textile and automotive sectors in Pakistan are showing the fastest growth rate.The domestic manufacturing investment is also expected to be boosted considering the lower energy prices and an improved domestic energy supply.Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in the coming years. In the beginning of BMI�s Forecast period the textile and automotive sector presented a faster growth.The domestic manufacturing investment is expected to be boosted considering the lower energy prices and an improved domestic energy supply.
 The Jewellary exports from the country increased by 28.78 percent during the fiscal year 2015 16 compared to the corresponding period of last year.</strongThe overall exports of jewellary from the country during July June (2015 16) were recorded at 8.492 million compared to the exports of 6.594 million in July June (2014 15) according to Pakistan Bureau of Statistics (PBS).Meanwhile on year on year basis the jewellary exports increased by 183.55 million in June 2016 compared to the exports of June 2015. The Jewellary exports during June 2016 were recorded at 1.310million in June 2016 compared to the exports of 0.462 million in June 2015. On month on month basis the exports of jewellary increased by18.23 percent in June 2016 when compared to the exports of 1.108million in May 2016, the PBS data revealed.Meanwhile the gem exports from the country declined by 49.72percent during the fiscal year 2015 16 by going down from 7.846million last year to 3.944 million during the current year.On year on year basis the exports of gems however decreased by 30.83 percent in June 2016 to 0.249 million compared to the exports of 0.360 million.While as compared to the exports of 0.487 million in May2016 the exports of gems in June decreased by 48.87 percent.It is pertinent to mention here that the overall mercantile exports from the country declined by 12.11 percent during the year2015 16 as compared to same period of previous year.The country s exports went down from 23.667 billion in July June (2014 15) to 20.802 billion during corresponding period of the year 2015 16.
 Tokyo stocks opened lower Monday, despite a mostly solid lead from Wall Street after the Bank of Japan last week disappointed investors with underwhelming tweaks to its stimulus programme.</strongThe benchmark Nikkei 225 index slipped 0.93 percent, or 153.96 points, to open at 16,415.31, while the broader Topix index of all first-section shares lost 1.09 percent, or 14.44 points, to 1,308.30.
 The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.</strongThe valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.The valuation shows various categories of open and constructed plots.
 The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday.</strongCustoms and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey�s economic fundamentals were solid."Warplanes, helicopters, weapons, bombs, buildings: 300 billion lira. Maybe I am underestimating a bit," he said, referring to the heavy destruction on the night of the coup."It might go up even more," he said.But the minister warned that the entire picture should be seen in a medium-term context even if some investors had been put off in the short-term."The putschists made Turkey seem like a third world country," he fumed."They (investors) are not coming after the images revealed tanks were deployed on the streets, parliament was bombed," he said, adding that some foreign orders had been cancelled in the wake of the coup.But Tufenkci said despite all this Turkey had managed to control the situation."Had the coup taken place in another country, markets would not have opened earlier than in a week," he said. The coup took place on Friday July 15 but financial markets in Turkey opened as normal after the weekend."The interest rates didn�t rise extraordinarily. The stock exchange�s losses have been limited. There�s no need to revise growth or export figures. The nation has stood firm."The government has suspended annual leave of public sector personnel in the wake of the coup attempt, blamed by the government on supporters of US-based Islamic preacher Fethullah Gulen.This measure has affected the tourism industry, already hit by foreigners staying away over security fears after a spate of attacks as well as a crisis with Russia."Because of a ban on annual leave, one million (tourism) reservations had been cancelled," the minister said.The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year but there is optimism the Russians will come back after Ankara mended fences with Moscow."From now on tourism will also rally," said Tufenkci.
 The Pakistan State Oil (PSO) has received Rs 293 billion payment against supplies amounting to Rs 308 billion made to different power sector entities during last 16 months.</strongThe government is making all out efforts to avoid further accumulatation of the PSO receivables which are around Rs 146 billion, official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.They informed that the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion after the government injected Rs 40 billion on behalf of the power sector entities.Besides the government evolved an effective strategy to ensure payments against the furnance oil supplies to the PSO within seven days aimed at avoiding further accumulation of the circular debt.Commenting on the PSO�s receivables they said in addition to the outstanding amount the PSO had the price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.The sources said WAPDA, PEPCO owed Rs 104.30 billion, HUBCO Rs39.5 billion, KAPCO Rs 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.
 Minister for Finance Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government s strong commitment in implementing difficult structural reforms in the areas of taxation energy monetary financial sectors and public sector enterprises.</strongFinance Minister Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger IMF Mission Chief here.Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3 year Extended Fund Facility (EFF) programme for an amount of 6.4 billion.Highlighting the overall programme performance of Pakistan the Finance Minister said Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory.We met the end June 2016 Quantitative Performance Criteria on Net International Reserves Foreign currency swap forward position and government borrowing from SBP by significant margins.The targets on Net Domestic Assets and budget deficit were missed marginally he remarked.Finance Minister Ishaq Dar said that the indicative target for end June 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met.He informed that Federal Board of Revenue (FBR) not only achieved its annual target of Rs. 3104 billion but exceeded it.
 At an Innisfree cosmetics store in Seoul's popular Myeongdong shopping district, a saleswoman helps 21-year-old Chinese tourist Yang Hui carry her shopping baskets to the pay desk in front of a large display showing K-Pop star Yoona</strong>."There's a lot to choose from," said Yang, confessing to having bought more than she'd planned from the store's range of around 900 products.South Korea's top cosmetics company Amorepacific Group (002790.KS) launches some 400 new Innisfree branded products a year, about half of which are no longer available a year later.It's one of dozens of Korean mass cosmetics brands with a short product development cycle - a "fast beauty" approach that is increasingly popular among Chinese and other Asian millennials, gaining exposure in the United States and Europe, and attracting high-profile foreign investment.South Korea has become a hot-bed for applying to cosmetics the "fast fashion" principles of shifting designs quickly from catwalk to Main Street to capitalise on new trends.Thousands of small cosmetics firms compete to get their new products to market, with third-party manufacturers cutting the time on testing and recipe alignment and providing the capacity for swift market launch.Korean brands have cut product development cycles to as little as four months, compared to over a year for global brands, industry experts say."When we received an eyeshadow order from a major global client in 2004, it took us two years to begin production. Now it takes us one year from the word go," said Lim Dae-gyu, a director at Cosmax Inc (192820.KS), a cosmetics manufacturer with annual sales of close to $500 million."For South Korean mass brands, it takes less - just 4-6 months from planning to market launch is average," Lim added.strong>WINNING FORMULA</strongSouth Korea last year overtook the United States and Japan to become the No. 2 cosmetics exporter to China after France. It shipped $1.1 billion worth of skincare creams, facial masks, compacts and other cosmetic products to the world's second-largest economy, according to the Ministry of Food and Drug Safety.South Korea's total cosmetics exports were worth $2.59 billion, up 44 percent from 2014, with Hong Kong and the United States its second- and third-biggest markets, a long way behind China.Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists. Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.The trade is not without its downside. To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said. Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory."New ingredients, new packaging, new formulas come on the market continuously, and when something does well Korean brands respond quickly," said Jang Jun-kee, managing director of the Korea Cosmetics Foundation, an industry group.Amorepacific's 2008 hit product, the cushion compact - a multifunctional sponge applicator for anything from liquid facial cover and sun protection to make-up base and moisturiser - inspired follow-up products from global brands such as L'Oreal's (OREP.PA) Lancome and Estee Lauder's (EL.N) Clinique.Innovative, often cute, packaging also helps.The Face Shop, a mass brand from South Korea's second-ranked cosmetics firm LG Household &amp; Health Care (051900.KS), said last month it sold out of its initial 130,000 cushion compacts featuring Disney characters - costing 20,000 won ($17.82) - in just two days. It said it expects to launch about 600 new products this year.Beyond popularising beauty trends such as facial cosmetic products "BB cream" and "CC cream", South Korea has a reputation for innovation and for using natural and Oriental medicine ingredients from flowers and tea leaves to donkey milk, snail and seahorse to differentiate its so-called K-beauty products."Korean consumers are very sophisticated. Their interest in beauty and expectations of cosmetics are high and they are willing to try new concepts," L'Oreal Korea said in emailed comments to Reuters. "It's a market where new trends emerge before potentially going global."strong>CHINA FOUNDATION</strongFor foreign investors, buying into the Korean success story is a convenient way also into China, where locals can't get enough of Korean TV dramas and K-Pop music."We find beauty and media-entertainment sectors to be the most exciting (in Korea)," said Ravi Thakran, the chairman and managing partner at L Capital Asia, a unit of LVMH (LVMH.PA), which last month became a major shareholder in South Korean colour cosmetics brand CLIO.�"The popularity of Korean culture such as K-Pop, dramas and celebrities boosted significant demand for Korean beauty products in China and other Southeast Asian countries," he added.Beyond China, Korean cosmetics have also moved into chains including LVMH's Sephora, Target (TGT.N) and Urban Outfitters (URBN.O), according to Korea's state-run trade agency KOTRA.The LVMH unit's investment in CLIO came just weeks after Goldman Sachs (GS.N) and Bain Capital Private Equity said they were buying a majority stake in unlisted cosmetics maker Carver Korea Co Ltd.($1 = 1,107.9000 won)
 The International Monetary Fund (IMF) has announced it will release the last instalment of a $6.6 billion economic bailout package to Pakistan, as Prime Minister Nawaz Sharif hailed an end to the country�s reliance on the lender.</strongThe decision to release the final tranche worth $102 million of the three-year programme came after a review of the country�s economic performance that found it was meeting most reform indicators but still needed to broaden the tax net.IMF delegation head Harald Finger said growth was projected to reach five percent supported by a construction boom linked to the China Pakistan Economic Corridor, an ambitious infrastructure upgrade project intended to link China�s western Xinjiang region to Gwadar port on the Arabian Sea."All indicative targets and structural benchmarks (SB) were met, except for the delayed notification of multi-year tariffs for three power distribution companies," Finger said Thursday in Dubai, referring to measures intended to reduce major fluctuations in electricity costs.The release of the final tranche is subject to approval by the IMF�s executive board though that is considered a formality.In Islamabad, Sharif told lawmakers from his party that his government had ended the country�s reliance on foreign multilateral assistance and was saying "goodbye" to the Fund."With the grace of God, we will say goodbye to IMF after this (agreement)," he said.Sharif had been under pressure from the opposition for seeking the loan in 2013 because its conditions included forcing the government to raise taxes and energy prices.The IMF note cautioned however that to consolidate and reinforce the gains achieved in the last three years, it was important to "strengthen public finances and external buffers, broaden the tax net, (and) improve public financial management," among other measures.
 Tokyo stocks climbed in early trading Friday as a weaker yen boosted exporters, while Toyota surged on forecast-beating quarterly net profits.</strongThe world�s biggest automaker said Thursday it posted a nearly 15 percent drop in its April-June net profit, citing a sharp rally in the yen and falling North American vehicle sales.Toyota, which also trimmed its full-year profit and sales forecast, soared 2.61 percent to 5,840 yen in early deals.The Bank of England Thursday announced its first interest rate cut in more than seven years and a fresh stimulus package to counter the fallout from Britain�s vote to quit the European Union.Those measures lifted the mood among Japanese investors, who are now focused on US monthly employment figures due later in the day, analysts said."The BoE (Bank of England) has taken the stance that they�ll do everything they can in terms of stimulus in the face of uncertainty," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News."An easing situation is more likely to continue across the globe, and this is positive for Japanese stocks."In early deals, the benchmark Nikkei 225 index gained 0.51 percent, or 82.73 points, to 16,337.62, building on a sharp gain of more than one percent the previous day.The broader Topix index of all first-section shares was up 0.42 percent, or 5.39 points, at 1,288.38.In forex markets, the dollar jumped to 101.33 yen from 101.22 yen Thursday in New York.<br/>In European stock trading, London, Frankfurt and Paris rose on Thursday on the news of the BoE measures.On Wall Street, the Dow closed down less than 0.1 percent, while the broad-based S&amp;P 500 ticked less than 0.1 percent higher and the tech-rich Nasdaq advanced 0.1 percent.
� The US economy generated more than a quarter of a million jobs in July -- a bigger-than-expected gain that will likely provide valuable ammunition for Democrat Hillary Clinton as she and Donald Trump battle for the White House.The new numbers released Friday -- which sent US stocks soaring -- were also accompanied by upward revisions of May and June data in a sign the job market in the world�s largest economy is healthier than previously thought.Non-farm payrolls rose by 255,000 positions in July while the unemployment rate remained stable at 4.9 percent, the Labor Department reported. Forecasts had called for a much more modest increase of 185,000 jobs.Private businesses and government employers added 292,000 jobs in June, not the 287,000 first reported, and 24,000 jobs in May, not the very low, downward-revised figure of 11,000."This month�s report confirms that the Great Recession is indeed in the nation�s rearview mirror -- the economy has added jobs for 70 consecutive months, the longest streak on record," Labor Secretary Thomas Perez said.On the White House campaign trail, Clinton has painted a picture of optimism and jobs growth, while Trump has cast America as an economy in decline -- Friday�s numbers can only help Clinton.The Trump campaign sought to downplay the news, with senior policy advisor Stephen Miller saying the recovery was the weakest since the Great Depression, with conditions largely disfavoring working people."Entire communities have been wiped out by off-shoring," said Miller.<br/>"Many workers today are earning less than they did in 1970, and household incomes are down nearly $2,000 under the Obama administration."/><strong>�Fed rate hike?</strongThe closely watched jobs figures help fill out a complex economic picture for market observers eager for signs of whether the US Federal Reserve will raise interest rates later this year.Monetary policy makers earlier this year veered off a course of planned, successive rate hikes as some signs emerged that the American economy might not be on sure footing.The Commerce Department said last month that economic activity had grown by a paltry 1.2 percent in the second quarter.But that data was at odds with Friday�s rosier jobs report. "Employment rose in all sectors of the economy, helping to keep the rate of unemployment at 4.9 percent amid an increase in the number of people entering the labor market looking for work," said Chris Williamson of IHS Markit."Adding to the good news was an improvement in pay growth. Average hourly earnings rose 0.3 percent against expectations of a mere 0.2 percent rise," said Williamson, noting that pay growth was still below pre-crisis rates.Gains were strongest in professional and business services, with 70,000 new jobs added, and in health care, where 43,000 new jobs added. Together, both sectors have added nearly a million jobs in the last 12 months, according to the Labor Department.Employment in mining continued to fall, losing 6,000 positions from the prior month and putting the industry down 220,000 jobs since a peak hit in September 2014.The average workweek rose 0.1 hours to 34.5 hours while average hourly earnings inched upwards by 8 cents to $25.69, up 2.6 percent since the start of the year./><strong>Stocks up</strongEquities markets reacted favorably to the news, with the S&amp;P 500 closing at 2,182.87, about four points above the all-time record set last month.The tech-rich Nasdaq Composite also set a record, closing up 1.1 percent at 5,221.12 while the Dow Jones Industrial Average finished up 1.0 percent at 18,543.53, only 12 points from its record."We believe the trend remains more than strong enough to keep the unemployment rate declining over time," said Jim O�Sullivan of High Frequency Economics."Today�s report helps the case for more Fed tightening before too long -- if strength is sustained -- although officials are being ultra cautious/dovish as they worry about downside risks," he added.
 Oil received a boost on Monday from reports of renewed talks by some OPEC members to restrain output, but analysts warned the bearish fundamentals that brought prices to four-month lows last week still lurked in the background.</strongInternational benchmark Brent futures LCOc1 were trading at $44.77 per barrel at 0930 GMT (0530 ET), up 50 cents, or 1.13 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $42.35 per barrel, up 55 cents, or 1.32 percent.The rise came on the back of fresh calls by some members of the Organization of the Petroleum Exporting Countries to freeze production levels in a bid to rein in output that has consistently outpaced demand.Qatar's energy minister also said on Monday that the oil market is on a path to rebalancing.Still, Russia, the world's top oil producer and a non-OPEC member, was quick to dismiss calls for a freeze.Russian Energy Minister Alexander Novak told reporters that "the position of Russia is that the prerequisites for this have not yet come to pass, considering that prices are still at a more or less normal level".A glut of crude and refined products loomed over the market.In China, July fuel exports rose over 50 percent from a year earlier to a monthly record 4.57 million tonnes, official data showed, as easing demand growth and a surplus in refined products pushed refiners to increase shipments overseas."It would be a surprise if we rapidly moved up to $60," Bjarne Schieldrop, chief commodities analyst with SEB in Oslo, said of Brent prices. "There's a lot of oil there, and we don't need more of it."Meanwhile, the number of oil rigs drilling in the United States rose for the sixth consecutive week to 381.The combination of factors led analysts to warn that the world had not yet dealt with the overhang of physical oil, which could drag prices lower again before any sustained recovery."The proper signals are not yet being sent to fix the product market," Morgan Stanley said in a note, noting that refined products also needed to draw down a large excess."In other words, physical oil markets likely need to get worse before they get better."
 Flight bookings to Britain rose in the month following the country's vote to leave the European Union as international visitors sought to take advantage of a cheaper UK-based holiday after a slump in the pound.</strongInbound flight reservations rose 4.3 percent in the 28 days to July 21 compared to the same period last year, according to travel information firm ForwardKeys, reversing the trend in the month before the referendum when bookings were 2.8 percent lower.Britain's vote to leave the EU on June 23 prompted the pound to weaken against both the dollar and the euro by around 10 percent, making it cheaper for holders of those currencies to visit the UK. GBP = ForwardKeys put the pick-up in bookings to Britain down to the change in the exchange rate."Brexit had an immediate, positive impact on inbound tourism to the UK, which is converting into better than anticipated arrivals," ForwardKeys Chief Executive Olivier Jager said in a statement on Monday.Bookings from outside Europe were up 8.6 percent in the 28 days after Brexit compared with the same period last year, having been down 0.1 percent the month before Brexit, driven by visitors from Hong Kong, the United States and Canada.Bookings from Europeans were 1.8 percent lower than the same month last year in the post-Brexit month, an improvement on the 6.8 percent decline recorded in the pre-Brexit month.The rise in visitor numbers could provide a boost to tourist attractions, hoteliers, restaurants and shops across Britain, some of which are already expecting to benefit from higher numbers of Brits deciding to holiday in the UK, the trend toward the so-called "staycation" during tough economic times.
 Pakistan Tourism Development Corporation�s (PTDC) Motels in Northern Areas and Murree are earning good business from the start of the summer season of this year.</strongDue to rush of domestic tourists from across the country the Motels are remained book by tourists throughout the season.An official of PTDC Mukhtar Ali told APP that most of the people wanted to enjoy summer vacations with their families in popular destinations like Murree, Ayubia, Nathiagali, Swat Valley and other Northern areas.He said that PTDC was analyzing the trend of the tourism and at the end of the season a detail report would be issued for bringing further improvement in the sector.An official of PTDC Motel Swat Valley said that this year the numbers of tourists were increased and sometime they were not able to entertain every tourist in the season.He said that after long time in Swat Valley such a big number of tourists were witnessed to visiting the valley.He said that similar situation was being witnessed in PTDC motels of others areas.He said that Kalam was one of top visited place by the people in current season adding that Kalam had all ingredients to be termed as top tourist destination in the country.
 Tokyo stocks opened sharply higher Monday following another record on Wall Street after traders welcomed strong US jobs data.</strongThe benchmark Nikkei 225 index rallied 1.28 percent, or 207.84 points, to 16,462.29 in opening deals, while the broader Topix index of all first-section shares soared 1.23 percent, or 15.71 points, to 1,295.61.
 Iran said on Tuesday it would auction off property owned by billionaire Babak Zanjani, who was sentenced to death for corruption earlier this year.</strongA number of luxury villas and apartments, shops and other properties will be sold, reported the Mizan Online newspaper, which is close to the judiciary.Bidders must make their offers in sealed envelopes by August 20, it added.Zanjani, 41, was sentenced to death for fraud and other financial crimes in March after a lengthy trial during which he was accused of fraudulently pocketing $2.8 billion.He rose to prominence after the international community imposed sanctions on the Islamic republic�s banks as punishment over its nuclear programme.Zanjani boasted in media interviews of his wealth and skills in finding ways round banking restrictions to ensure Iran continued to receive money for international oil sales, saying he acted at all times with the support of then-president Mahmoud Ahmadinejad.He said he used a web of companies in countries including the United Arab Emirates, Turkey and Malaysia, selling millions of barrels of Iranian oil.Zanjani was arrested in December 2013, three months after current President Hassan Rouhani took office, having pledged to crack down on corruption.
 Oil and Gas Regulation Authority (OGRA) spokesman has categorically stated that Compressed Natural Gas (CNG) cannot be sold in litres in Sindh province.</strongThe spokesman for the regulatory body said, �Sale of CNG in litre in Sindh is illegal. Strict actions will be taken against those violating the orders.�He said OGRA has sent letter to CNG Associations regarding the issue. Different inspection teams have been formed to collect data of CNG pumping stations in Karachi.
 Tokyo stocks opened lower Wednesday as a stronger yen hit exporters and following a lacklustre lead from Wall Street.</strongThe benchmark Nikkei 225 index slipped 0.39 percent, or 65.89 points, to 16,699.08 in opening deals, while the broader Topix index of all first-section shares fell 0.42 percent, or 5.51 points, to 1,311.98.
 Huffington Post co-founder Arianna Huffington said on Thursday she would leave the company to focus on running her new venture, health and wellness startup Thrive Global.</strong"I thought HuffPost would be my last act. But I've decided to step down as HuffPost's editor-in-chief to run my new venture, Thrive Global," she tweeted.Thrive Global, which will offer services to companies to improve the well-being of their employees, recently closed a Series A funding round ahead of a launch in the fall.Verizon Communications Inc owns the Huffington Post through AOL, which bought the liberal American online news aggregator and blog for $315 million in February 2011.
 Switzerland's highest court has ordered Israel to pay Iran around $1.1 billion plus interest in a decades-old dispute over a secretive oil pipeline company predating the 1979 Islamic revolution which made the countries enemies.</strongThe Swiss Federal Tribunal rejected an appeal, citing lack of due process, against an arbitration ruling last year. The verdict, dated June 27, was available on the Lausanne court's website.It also awarded Iran 450,000 Swiss francs ($461,302) in court costs and lawyer fees.It remains unclear whether Israel will pay up given restrictions its "trading with the enemy" laws.Lawyers for each side had been locked in an arbitration over the Eilat-Ashkelon Pipeline Co (EAPC), a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil to the Mediterranean.For a decade, the pipeline successfully carried oil from the Red Sea for export to Europe. But since the Islamic revolution that brought the ayatollahs to power, Iran has been demanding its share of revenues and assets that remained in Israel.Since the partnership collapsed, EAPC has grown into a complex of energy assets, now mostly handling oil from former Soviet states.How much profit it has made or how much it is worth is unknown, largely because it is protected in a similar way to Israel's intelligence agencies, including by gag orders restricting coverage of its activities.But Tehran, setting aside its decades-old refusal to recognise Israel's right to exist, had determined to recoup its part of EAPC and pursued a complex arbitration case since 1994, first in France and then in Switzerland.In that time, the company has become the largest distributor of oil in Israel, with ambitions to become a major hub for energy trading in the Mediterranean. Israel maintains tight controls over EAPC.The company has its roots in the 1967 Middle East war, when Egypt blocked the Suez Canal, making it impossible for Iran to transport its oil by tanker to Europe. Under the EAPC deal, Iranian tankers would unload at the Red Sea port of Eilat and oil would flow 254 km (158 miles) northwest to Ashkelon.The countries formed a straw company in Halifax, Canada called APC Holdings, the primary shareholder in EAPC. By December 1969 the pipeline was ready to handle 60 million tons of crude a year, though it never reached that level.A decade later Iran's Shah was ousted and the partners in EAPC became enemies overnight.Lawyers for both countries have declined to comment.Case number: 4A_322/2015 ($1 = 0.9755 Swiss francs)
 It�s been an eventful few days for Mohammad Basheer Abdul Khadar, an Indian living in Dubai.</strongIn the space of a week, he survived a crash landing at Dubai airport then won $1 million in a lottery organised by the airport�s duty free operator, Gulf News reported.The 62-year-old was flying home from holidays with family in India when the Boeing 777 in which he was travelling caught fire on landing with 300 people on board.The accident on Wednesday shut down the Middle East�s busiest airport for several hours, forcing authorities to cancel hundreds of flights. All the passengers and crew escaped unharmed, but a firefighter died tackling the blaze.Just six days later, Khadar discovered that the lottery ticket he�d bought on the way to India was now worth $1 million.A fleet administrator with a Dubai car dealership, Khadar told Gulf News he habitually bought a lottery ticket on his way to visit family in the southern Indian state of Kerala.Ticket number 845 in the "Millenium Millionaire" draw at the airport�s Dubai Duty Free proved to be his winning shot."I live a simple life, and now that it�s my time to retire, I feel like God gave me a second life when I survived the plane crash, and blessed me with this money to follow all this up by doing good things," he told Gulf News.Khadar has lived in Dubai for 37 years and is married with two children, one of whom is paralysed after a fall early on in his childhood, reported Gulf News.Khadar told Gulf News he was planning to return to Kerala to retire and would use the money to help children in Kerala who need financial support.He said he earns around $2,200 (2,000 euros) a month, and would continue to work as long as he could."Nothing else can give you the satisfaction of your hard-earned money," he said.
 The newly introduced sales tax automation system would help generate additional billions of rupees for the national exchequer besides ensuring transparency discipline and proper monitoring of sales and purchase all across the country.</strongThe Sales Tax Real time Invoice Verification Strive System has been put in place to check leakages in the tax system and improve overall revenue collections, Member Sales Tax Dr. M. Irshad said while talking to APP here.He said that the purpose of the system was to check under invoicing as well as flying invoicing which has been causing damages of billions of rupees to the government in terms of tax evasion.He said that although the system has been put in place since the commencement of the current fiscal year however the actual impact could be evaluated after August 18 when the FBR receives returns from the sales taxpayers.�We expect that with the help of this system additional Rs40 to Rs 50 billion per annum revenue could be collected by checking and removing the loopholes and leakages,� he added.As per the system all the companies and individuals involved in selling of goods would be bound to submit electronically their invoices of previous month to the FBR by 10th of next month and later file their returns by 18th of that month.This practice would help FBR to recheck and re examines the tax collection when the invoices and actual files are submitted hence it would not only help check the bottlenecks in the tax collection system but would also make the overall system transparent.He said that since the system was in place since July 1 2016 so the sales taxpayers are bound to submit their invoices (annexes) by 10th of August and file their returns by August 18. The board would then make cross check to ensure that no under voicing and flying invoicing has been included for the purpose of tax evasion, he told APP.He was of the view that FBR had been facing such problems for a long time and it was after long consideration that this software has been developed to overcome the problems.He said that before launching the software the FBR had launched a pilot project and approached businessmen and chambers to inform them and create awareness among them regarding the system.The member ST FBR said that similar systems have been developed to check sales tax evasion by vendors and electricity distribution companies (Discos) all across the country.In future two more software are being developed to introduce same facility in the real estate business and motor registration system.He said that the FBR has taken many incentives to revamp the existing sales tax system to facilitate taxpayers and also improve revenue collection system by making it taxpayer friendly transparent and disciplined.Meanwhile the FBR and Auditor General for Pakistan Revenues (AGPR) have joined hands to check tax evasions of billions of rupees by monitoring sale and purchase activities of government vendors.The FBR in collaboration with AGPR has put a mechanism in place to monitor and access complete data of sale and purchase of government vendors through Monitoring and Invoice Verification System in order to check almost 80 percent of the sales tax evasion by the vendors, a senior official of the board told APP.As per the common practice the government vendors were filing only one fifth of the sales tax on Sales Tax Return Number (STRN) with Accountant General Office (AG) on their own while evading 80 percent government tax due to non availability of the STN verification facility at AGP.The purpose is to check the malpractice that has been inflicting huge loss to national exchequer in terms of tax evasion adding that with this system the cross verification of the STRN of all the vendors working with government could be verified.The FBR would also involve District Controller Accounts for properly accessing the data of the government vendors and contractors and ask them for filing of 80 percent sales tax account in order to recover huge amount evaded in terms of the sales tax.
 Oil prices rose sharply on Thursday after Saudi Arabia�s energy minister said producers may take action to help rebalance global oil markets.</strongThe remarks helped send prices up more than 4 percent in New York, where a barrel of West Texas Intermediate for September delivery closed up $1.78 at $43.49, after having lost more than a dollar the day before.In London, North Sea Brent for October delivery rose $1.99 to $46.04 a barrel on the Intercontinental Exchange.<br/>Matt Smith of ClipperData said the whipsawing of prices was "crazy."Smith said oil prices had dropped Wednesday after Saudi oil production figures showed the country�s output had risen last month to nearly 11 million barrels per day.But in remarks reported Thursday, Saudi oil minister Khalid al-Falih said an informal meeting of the Organization of the Petroleum Exporting Countries (OPEC) scheduled for next month would be the occasion for producers to discuss "any possible action."Saudi Arabia�s offer to take action was "completely at odds with this production data," Smith told AFP.<br/>James Williams of WTRG Economics said markets were in an "ongoing battle.""It�s between reality and possibilities, if you will," he told AFP. "The reality is the market continues to be oversupplied, with (a) really big increase in Saudi output last month."
 CNG stations across Sindh resumed supply after a three-day long strike.</strongAccording the Geo New, CNG from today will be sold in kilograms and not litres.The strike was called off after a round of successful talks on Friday between CNG Association and government.In a press conference held after the meeting representatives of the CNG Association told media that they had met Oil and Gas Regulatory Authority (OGRA) officials and the petroleum minister in Islamabad on August 11.During the meeting the CNG Association explained their issues with the government.It is stated that another meeting between stakeholders will be held in Karachi.Oil and Gas Regulation Authority (OGRA) spokesman, earlier, has categorically stated that Compressed Natural Gas (CNG) cannot be sold in litres in Sindh province.He said OGRA has sent letter to CNG Associations regarding the issue. Different inspection teams have been formed to collect data of CNG pumping stations in Karachi.
 Pakistani nation is ready to walk in the right directions with the help of country�s first indigenously developed digital mapping solution.</strongThe country�s largest tracking solutions provider TPL Trakker has launched TPL Maps, created using state-of-the-art technology, are inlayed with smart features that provide real-time intelligent routing, live traffic updates, turn-by-turn navigation options and smart search amongst a host of other features.Briefing about the digital maps, Ali Jameel, CEO, TPL Trakker Ltd. Stated, �TPL Maps have been developed indigenously and I firmly believe that these localized mapping solutions will provide a holistic navigational experience to people all over Pakistan,� and added �Globally, maps have taken the center stage for e-commerce, fintech, advertising and games.�He said today we have enabled Pakistan to leverage the power of Maps for businesses, consumers and the Government sector.�This is just the beginning of a new era for technology in the country and we are honored to be in the driving seat of this change,� he maintained.He said these maps also correctly showcase Kashmir and Gilgit-Baltistan as a part of Pakistan.Company�s Product Manager Asim Mushtaq and the Head of Maps Adeel Hashmi were also present at the occasion and briefed the media.Adeel Hashmi said that with over 22,000 hours of research, TPL Maps have been developed with data collected over the last 15 years by a dedicated team of over 100 IT &amp; GIS analysts who have worked diligently to make these maps a reality.�TPL Trakker aims to add further innovation and exciting features in upcoming releases,� he added.Asim Mushtaq said the TPL Maps boost of 1.5 million points-of-interest (POIs) � this is the highest number of POIs compared to any other mapping service in Pakistan.�With close to a million housing addresses, the largest collection of housing data ever recorded, TPL Maps have approximately 1,000 3D building models and approximately 300,000 kilometers of road network mapped across the country,� he concluded.TPL Maps app can be downloaded from Google Play Store and Apple App Store.
 Prime Minister Narendra Modi said India was becoming the world�s most attractive destination for foreign investors Monday, using his annual Independence Day speech to trumpet sweeping tax reforms designed to spur growth.</strongIn an address from Delhi�s 17th-century Red Fort, Modi sought to highlight his government�s achievements, including the recent passage of a landmark tax reform, that have contributed to India�s robust growth during a global slowdown."Be it the World Bank, the IMF (International Monetary Fund), World Economic Forum or even credit rating agencies, all the institutions of the world have appreciated India�s development," Modi said."Thanks to India�s continuous reforms and improvement in its laws and systems, a change in its approach -- the world is watching us," he added."We have improved India�s rank in ease of doing business rapidly. India has become the most favoured nation in the world for foreign direct investments. India has outpaced some of the biggest nations in the world with its growth rate, GDP (gross domestic product)."India�s GDP expanded 7.6 percent in 2015-16, making it the fastest-growing major economy in the world and outpacing its rival China�s growth rate.He went on to thank all political parties for clearing earlier this month the long-awaited Goods and Services Tax (GST) bill, which had been blocked by the opposition since he came to power in 2014.The bill will replace a patchwork of central and state levies on goods and services and marks India�s most significant economic reform in decades.Modi said his government had been successful in bringing down retail inflation from double digits to six percent, adding that he was working with the central bank to lower prices to four percent with a plus or minus-two percent band."I will continue to strive hard to ensure that this inflation doesn�t affect the food plate of the poor," he said.
 Tokyo�s benchmark index ended Monday morning trade unchanged, clawing back early losses driven by news that the Japanese economy stalled in the second quarter.</strongThe Nikkei 225 was flat, edging up 0.79 points, to 16,920.71 by the lunch break, while the broader Topix index of all first-section shares fell 0.17 percent, or 2.30 points, at 1,320.92.
 Pakistan shares closed at an all-time high on Tuesday, helped by gains in food and personal care, oil and cement stocks.</strongThe benchmark 100-share index of the Pakistan Stock Exchange closed 0.05 percent, or 19.65 points, higher at 40,050.17."Market witnessed more of a consolidation above the 40,000 level as the results season continues," said Fawad Khan, head of research at KASB Securities Pvt Ltd.Dewan Cement Ltd gained 0.16 percent, Lucky Cement Ltd rose 0.70 percent and Kohat Cement Co Ltd climbed 2.41 percent.Nestle Pakistan Ltd gained 0.87 percent, while Oil and Gas Development Co Ltd rose 0.45 percent.The rupee ended at 104.67/104.71 per dollar, compared with Monday�s close of 104.66/104.70.Overnight rates in the money market fell to 5.85 percent from Monday�s close of 5.90 percent.�
 Oil prices eased in Asia Tuesday as doubts emerged that Saudi Arabia and other major producers would reach an agreement to freeze output during a meeting next month.</strongMembers of the Organization of Petroleum Exporting Countries (OPEC) as well as non-members are scheduled to meet informally in Algeria in September, and Saudi Arabia�s oil minister Khalid al-Falih has hinted that producers could discuss actions to stabilise prices.His remarks last week sparked a price rally as they were widely seen as a suggestion that OPEC could revive talks on trimming high output levels.Prices continued their rise in New York Monday after Russian Energy Minister Alexander Novak said his country was working with Saudi Arabia to achieve oil market stability -- suggesting a possible production freeze in cooperation with OPEC.But analysts said there were doubts an accord would be reached."Some doubt about a possible deal to freeze output could have set in," IG Markets Singapore analyst Bernard Aw told AFP.Aw recalled that a previous attempt to freeze output at January 2016 levels failed in April after Saudi Arabia said it wanted all producers, including Iran, to be part of the agreement.Iran had refused, saying it needed to regain market share lost during years of Western economic sanctions over its nuclear ambitions. The sanctions were lifted in January."Investors are wondering: if Iran doesn�t participate in any such discussions, would Saudi Arabia still be amenable?" Aw said.At around 0700 GMT, US benchmark West Texas Intermediate for delivery in September was down 36 cents, or 0.79 percent, to $45.38 and Brent crude for October dropped 41 cents, or 0.85 percent, to $47.94.Nigerian Petroleum Minister of State Emmanuel Kachikwu in a Twitter post Monday also voiced doubts about output cuts by OPEC."On oil production cuts by OPEC, optimism on my part is quite sparse," he said. OPEC member Nigeria is Africa�s biggest oil exporter.Oil prices had entered a "bear" market at the start of the month on oversupply concerns, falling more than 20 percent and closing below $40 a barrel for the first time since April.Any agreement to curb production would help rebalance the crude oil market, where output has been running ahead of demand."The chances of a deal actually occurring at next month�s OPEC meeting are minimal," Angus Nicholson, a strategist at IG Markets, said in an email commentary."The Saudis are happy to commit to some sort of OPEC-wide supply freeze deal so long as Iran is party to it. And Iran refuses to agree to any deal that will inhibit them from lifting their oil output to pre-sanctions levels."
 From computers and cars to carpets and food, Britain�s decision to leave the EU is beginning to hit consumers in the pocket, having already spread uncertainty through the property market.</strongThe consequences of the shock vote have so far been mainly theoretical, but recent data suggest that the country�s tumbling currency is about to reach the High Street.The pound has lost 10 to 15 percent of its value against the euro and the dollar since the June 23 referendum, raising the price of goods primarily supplied by foreign companies such as automobiles, computers, clothing and some foods.Carmaker Peugeot told AFP that it had raised prices by an average of two percent since August 1 for models of its three flagship brands: Peugeot, Citroen and DS.Similarly, Dell computer group said it now had to factor the cost of components, denominated in dollars, into the price of its products in Britain.British group Headlam explained that the pound�s plunge had also increased the cost of its domestic floor coverings, imported mainly from Belgium and the Netherlands, by around six percent.All eyes are now turning to food and property, which have been relatively unscathed, but which many fear could see similar price fluctuations.Fierce competition among supermarkets desperate to maintain market share normally provides a bulwark against sharp inflation in food prices, but Brexit could rewrite the rules, said Fraser McKevitt, an analyst at Kantar group�s London office."We wouldn�t expect to see anything come through immediately, but if sterling does remain weak, we are likely to see impact on some prices," he told AFP."Around 40 percent of food in the UK is imported."strong>- Diluted purchasing power -</strongPrice comparison website mysupermarket.com has already reported an increase of one percent in the price of an average basket of supermarket goods in July, blaming "fears of Brexit" for the second consecutive month of price hikes.There are also fears over the UK housing market, but deflation is more of a concern than price rises in this key sector.Figures released Monday showed that residential rents for new lets in London had fallen for the first time in six years, according to the first study published on the issue since Britain voted to leave the European Union.While good news for tenants, it will leave landlords worse off.In addition, homeowners have seen the value of their property rise on average by just 2.1 percent in the year up tol August, a slowdown from the breakneck growth of recent years, according to property website Rightmove.Despite Brexit�s tremors being felt in the economy, official figures do not yet reveal wild price fluctuations, reporting only a slight rise in inflation of 0.6 percent in July.But experts expect stronger inflation growth over the next few months, boosted by the increased costs of imported goods and more volatile goods such as alcoholic drinks.The Bank of England has also deployed monetary weapons in an attempt to stop the economy sliding into recession, which are expected to increase the money supply and as a result boost inflation and further weaken the pound.Britons hoping for a pay rise to compensate for increased costs are likely to be disappointed, according to analysts."It looks probable that consumer purchasing power will be significantly diluted over the coming months as inflation trends higher and earnings growth is limited," warned Howard Archer from IHS Global Insight."Companies may well look to clamp down on workers� pay as they strive to save costs in a more difficult environment."Workers lucky enough to see a rise in their salary thanks to a fall in low-skilled immigration are unlikely to enjoy a marked increase in living standards due to the general slowdown of the post-Brexit economy, a report published by the Resolution Foundation said Tuesday.
 Tokyo stocks rose early Wednesday in thin trade, snapping two sessions of decline despite a negative lead from global financial markets.</strongOn Wall Street, all three major indices moved off record highs Tuesday after senior US central banker William Dudley suggested an interest rate hike could possibly come as early as next month.The greenback rose to 100.42 yen from 100.30 yen in New York, after briefly touching as low as 99.54 yen in overnight trading, falling under the 100 level for only the second time this year.But the dollar�s position remained largely unaffected by Dudley�s remarks. "Considering how much the yen has strengthened, Japanese shares are showing resilience," Chihiro Ohta, a senior strategist with SMBC Nikko Securities, told Bloomberg News."However, there aren�t any reasons to actively buy Japanese stocks right now."About 30 minutes after the opening bell, the benchmark Nikkei 225 index gained 0.48 percent, or 79.27 points, to 16,675.78, rebounding after ending two sessions in the red.The broader Topix index of all first-section shares advanced 0.39 percent, or 5.03 points, to 1,303.50.Trading was thin with many investors away for Japan�s week-long, though unofficial, Obon holiday.<br/>In early share trading, Toyota tacked on 1.60 percent to 5,969 yen, while Uniqlo operator Fast Retailing, a market heavyweight, jumped 1.36 percent to 37,000 yen.Among other gainers, energy explorer Inpex soared nearly four percent to 870.3 yen and refiner JX Holdings added about one percent to 381.2 yen.On Wall Street on Tuesday, the Dow ended down 0.5 percent, the broad-based S&amp;P 500 shed 0.6 percent and the tech-rich Nasdaq lost 0.7 percent.
 Anyone with internet access and a passion for seafood will soon be able to track commercial fishing trawlers all over the world, with a new tool that its developers hope will help end the overfishing that has decimated the world's fish stocks.</strongMillions of people depend on fish to survive, and fish will be vital to feeding the world's growing population that is predicted to reach 9.7 billion people by 2050, the United Nations says.But overfishing has diminished fish stocks, and illicit fishing is threatening people's access to food in many poor countries, according to the United Nations."We currently have around 450 million people globally who get their primary source of food from the ocean. This is 450 million meals a day under threat," said Lasse Gustavsson, executive director of Oceana in Europe on Wednesday."To solve the overfishing problem, including illegal fishing, we want to create transparency in the oceans," Gustavsson told the Thomson Reuters Foundation from Madrid.Oceana, an international conservation organisation, together with Google and SkyTruth, a nonprofit group that uses aerial and satellite images to track changes in the landscape, are due to launch the Global Fishing Tracker within weeks.The public, non-governmental organisations and local authorities will be able to use it to monitor coastlines and marine conservation areas, follow individual boats in near real-time and track what boats of a particular flag are doing.It will be especially useful for countries like Madagascar which have few resources to patrol and monitor their own coastlines, Oceana said."You can slice that piece of data in many different ways which we think will be helpful when it comes to law enforcement, increasing public understanding, and catching the kind of people who are doing stuff they shouldn't be doing," said Gustavsson.Some 30 percent of fish stocks were overfished in 2013, up from 10 percent in 1974. Most of the remaining stocks are fully fished, the U.N. Food and Agriculture Organization (FAO) said.At risk are hundreds of millions of people who depend on fisheries to earn a living, for food and nutrition, according to the FAO.The industry has vessels operating all over the world - some 15,000 European Union-registered fishing boats work off the coast of West Africa for example. Although legal, it is unsustainable, according to Oceana.Fish stocks will quickly bounce back if areas where fish spawn are protected, if fish stocks are managed scientifically, and if destructive and illegal fishing ended, Gustavsson said."If we do all the right things now, in 10 years we will have twice as much fish in the ocean globally," he said."We could increase the number of meals from 450 million a day today to maybe 1 billion."An international agreement to curb illegal, unregulated and unreported fishing came into force in June.The Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing allows a country to block ships it suspects of illicit fishing, stopping their catches from entering local and international markets.It will be a key driver in the international community's fight against illicit fishing, FAO said.
 Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August.</strongPrices hit five-week highs this week, supported by hopes that a Russian-Saudi cooperation may reach a pact to freeze output, easing the stubborn supply glut dogging the market since late last year.OPEC members and their non-OPEC rivals are to meet informally in Algeria next month, and both Saudi and Russia have indicated they could discuss measures to stabilise prices.The market was boosted further on Wednesday after the weekly US inventories report showed significant declines in commercial crude stockpiles, indicating strong demand in the world�s top oil consumer.US crude stockpiles fell by 2.5 million barrels in the week to August 12, and gasoline stocks declined 2.7 million barrels, official data showed.Analysts however, said gains were being eroded by media reports that Saudi Arabia, OPEC�s top producer, is ramping up production to fresh record levels in August.Saudi output was at a record 10.67 million barrels per day in July."The upside is capped by Saudi�s signals of pumping more oil in August, which could give the Kingdom more leverage during talks in Algeria next month," said EY Services oil and gas head Sanjeev Gupta."The oil market will continue to seesaw amid scepticism over the coordinated efforts to stabilise output," he told AFP by email.At about 0500 GMT, US benchmark West Texas Intermediate for September delivery was down two cents to $46.77 while North Sea Brent was down 16 cents to $49.69. Both contracts closed higher Wednesday.Stephen Innes, senior trader at OANDA, said prices are on the slide "as optimism faded for a freeze production agreement... after Iran communicated little interest in the arrangement".A Saudi-led attempt to freeze output at January 2016 levels failed in April after rival oil producer Iran refused to be part of the deal, saying it needed to raise production dented by years of Western economic sanctions, which were lifted in January."What needs closer monitoring are the industry-sourced reports that Saudi Arabia could boost crude oil output in August to record levels," Innes said.IG Markets� Melbourne-based analyst Angus Nicholson said there were "concerns that Saudi Arabia may continue producing oil at their summer output levels rather than following their usual seasonal slowing of production".
 Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.</strongThe benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent."Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday�s close.Overnight rates in the money market fell to 5.40 percent from Friday�s close of 6.30 percent.
 International financial market analysis firm BMI says that Pakistan will be developed as manufacturing hub over the coming years.</strongAccording to a Business Monitor International report, Pakistan will be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report reveals that Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in coming years.BMI says textile and automotive sectors in Pakistan are showing the fastest growth rate.The domestic manufacturing investment is also expected to be boosted considering the lower energy prices and an improved domestic energy supply.Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in the coming years. In the beginning of BMI�s Forecast period the textile and automotive sector presented a faster growth.The domestic manufacturing investment is expected to be boosted considering the lower energy prices and an improved domestic energy supply.
 The Jewellary exports from the country increased by 28.78 percent during the fiscal year 2015 16 compared to the corresponding period of last year.</strongThe overall exports of jewellary from the country during July June (2015 16) were recorded at 8.492 million compared to the exports of 6.594 million in July June (2014 15) according to Pakistan Bureau of Statistics (PBS).Meanwhile on year on year basis the jewellary exports increased by 183.55 million in June 2016 compared to the exports of June 2015. The Jewellary exports during June 2016 were recorded at 1.310million in June 2016 compared to the exports of 0.462 million in June 2015. On month on month basis the exports of jewellary increased by18.23 percent in June 2016 when compared to the exports of 1.108million in May 2016, the PBS data revealed.Meanwhile the gem exports from the country declined by 49.72percent during the fiscal year 2015 16 by going down from 7.846million last year to 3.944 million during the current year.On year on year basis the exports of gems however decreased by 30.83 percent in June 2016 to 0.249 million compared to the exports of 0.360 million.While as compared to the exports of 0.487 million in May2016 the exports of gems in June decreased by 48.87 percent.It is pertinent to mention here that the overall mercantile exports from the country declined by 12.11 percent during the year2015 16 as compared to same period of previous year.The country s exports went down from 23.667 billion in July June (2014 15) to 20.802 billion during corresponding period of the year 2015 16.
 Tokyo stocks opened lower Monday, despite a mostly solid lead from Wall Street after the Bank of Japan last week disappointed investors with underwhelming tweaks to its stimulus programme.</strongThe benchmark Nikkei 225 index slipped 0.93 percent, or 153.96 points, to open at 16,415.31, while the broader Topix index of all first-section shares lost 1.09 percent, or 14.44 points, to 1,308.30.
 The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.</strongThe valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.The valuation shows various categories of open and constructed plots.
 The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday.</strongCustoms and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey�s economic fundamentals were solid."Warplanes, helicopters, weapons, bombs, buildings: 300 billion lira. Maybe I am underestimating a bit," he said, referring to the heavy destruction on the night of the coup."It might go up even more," he said.But the minister warned that the entire picture should be seen in a medium-term context even if some investors had been put off in the short-term."The putschists made Turkey seem like a third world country," he fumed."They (investors) are not coming after the images revealed tanks were deployed on the streets, parliament was bombed," he said, adding that some foreign orders had been cancelled in the wake of the coup.But Tufenkci said despite all this Turkey had managed to control the situation."Had the coup taken place in another country, markets would not have opened earlier than in a week," he said. The coup took place on Friday July 15 but financial markets in Turkey opened as normal after the weekend."The interest rates didn�t rise extraordinarily. The stock exchange�s losses have been limited. There�s no need to revise growth or export figures. The nation has stood firm."The government has suspended annual leave of public sector personnel in the wake of the coup attempt, blamed by the government on supporters of US-based Islamic preacher Fethullah Gulen.This measure has affected the tourism industry, already hit by foreigners staying away over security fears after a spate of attacks as well as a crisis with Russia."Because of a ban on annual leave, one million (tourism) reservations had been cancelled," the minister said.The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year but there is optimism the Russians will come back after Ankara mended fences with Moscow."From now on tourism will also rally," said Tufenkci.
 The Pakistan State Oil (PSO) has received Rs 293 billion payment against supplies amounting to Rs 308 billion made to different power sector entities during last 16 months.</strongThe government is making all out efforts to avoid further accumulatation of the PSO receivables which are around Rs 146 billion, official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.They informed that the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion after the government injected Rs 40 billion on behalf of the power sector entities.Besides the government evolved an effective strategy to ensure payments against the furnance oil supplies to the PSO within seven days aimed at avoiding further accumulation of the circular debt.Commenting on the PSO�s receivables they said in addition to the outstanding amount the PSO had the price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.The sources said WAPDA, PEPCO owed Rs 104.30 billion, HUBCO Rs39.5 billion, KAPCO Rs 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.
 Minister for Finance Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government s strong commitment in implementing difficult structural reforms in the areas of taxation energy monetary financial sectors and public sector enterprises.</strongFinance Minister Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger IMF Mission Chief here.Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3 year Extended Fund Facility (EFF) programme for an amount of 6.4 billion.Highlighting the overall programme performance of Pakistan the Finance Minister said Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory.We met the end June 2016 Quantitative Performance Criteria on Net International Reserves Foreign currency swap forward position and government borrowing from SBP by significant margins.The targets on Net Domestic Assets and budget deficit were missed marginally he remarked.Finance Minister Ishaq Dar said that the indicative target for end June 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met.He informed that Federal Board of Revenue (FBR) not only achieved its annual target of Rs. 3104 billion but exceeded it.
 At an Innisfree cosmetics store in Seoul's popular Myeongdong shopping district, a saleswoman helps 21-year-old Chinese tourist Yang Hui carry her shopping baskets to the pay desk in front of a large display showing K-Pop star Yoona</strong>."There's a lot to choose from," said Yang, confessing to having bought more than she'd planned from the store's range of around 900 products.South Korea's top cosmetics company Amorepacific Group (002790.KS) launches some 400 new Innisfree branded products a year, about half of which are no longer available a year later.It's one of dozens of Korean mass cosmetics brands with a short product development cycle - a "fast beauty" approach that is increasingly popular among Chinese and other Asian millennials, gaining exposure in the United States and Europe, and attracting high-profile foreign investment.South Korea has become a hot-bed for applying to cosmetics the "fast fashion" principles of shifting designs quickly from catwalk to Main Street to capitalise on new trends.Thousands of small cosmetics firms compete to get their new products to market, with third-party manufacturers cutting the time on testing and recipe alignment and providing the capacity for swift market launch.Korean brands have cut product development cycles to as little as four months, compared to over a year for global brands, industry experts say."When we received an eyeshadow order from a major global client in 2004, it took us two years to begin production. Now it takes us one year from the word go," said Lim Dae-gyu, a director at Cosmax Inc (192820.KS), a cosmetics manufacturer with annual sales of close to $500 million."For South Korean mass brands, it takes less - just 4-6 months from planning to market launch is average," Lim added.strong>WINNING FORMULA</strongSouth Korea last year overtook the United States and Japan to become the No. 2 cosmetics exporter to China after France. It shipped $1.1 billion worth of skincare creams, facial masks, compacts and other cosmetic products to the world's second-largest economy, according to the Ministry of Food and Drug Safety.South Korea's total cosmetics exports were worth $2.59 billion, up 44 percent from 2014, with Hong Kong and the United States its second- and third-biggest markets, a long way behind China.Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists. Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.The trade is not without its downside. To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said. Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory."New ingredients, new packaging, new formulas come on the market continuously, and when something does well Korean brands respond quickly," said Jang Jun-kee, managing director of the Korea Cosmetics Foundation, an industry group.Amorepacific's 2008 hit product, the cushion compact - a multifunctional sponge applicator for anything from liquid facial cover and sun protection to make-up base and moisturiser - inspired follow-up products from global brands such as L'Oreal's (OREP.PA) Lancome and Estee Lauder's (EL.N) Clinique.Innovative, often cute, packaging also helps.The Face Shop, a mass brand from South Korea's second-ranked cosmetics firm LG Household &amp; Health Care (051900.KS), said last month it sold out of its initial 130,000 cushion compacts featuring Disney characters - costing 20,000 won ($17.82) - in just two days. It said it expects to launch about 600 new products this year.Beyond popularising beauty trends such as facial cosmetic products "BB cream" and "CC cream", South Korea has a reputation for innovation and for using natural and Oriental medicine ingredients from flowers and tea leaves to donkey milk, snail and seahorse to differentiate its so-called K-beauty products."Korean consumers are very sophisticated. Their interest in beauty and expectations of cosmetics are high and they are willing to try new concepts," L'Oreal Korea said in emailed comments to Reuters. "It's a market where new trends emerge before potentially going global."strong>CHINA FOUNDATION</strongFor foreign investors, buying into the Korean success story is a convenient way also into China, where locals can't get enough of Korean TV dramas and K-Pop music."We find beauty and media-entertainment sectors to be the most exciting (in Korea)," said Ravi Thakran, the chairman and managing partner at L Capital Asia, a unit of LVMH (LVMH.PA), which last month became a major shareholder in South Korean colour cosmetics brand CLIO.�"The popularity of Korean culture such as K-Pop, dramas and celebrities boosted significant demand for Korean beauty products in China and other Southeast Asian countries," he added.Beyond China, Korean cosmetics have also moved into chains including LVMH's Sephora, Target (TGT.N) and Urban Outfitters (URBN.O), according to Korea's state-run trade agency KOTRA.The LVMH unit's investment in CLIO came just weeks after Goldman Sachs (GS.N) and Bain Capital Private Equity said they were buying a majority stake in unlisted cosmetics maker Carver Korea Co Ltd.($1 = 1,107.9000 won)
 The International Monetary Fund (IMF) has announced it will release the last instalment of a $6.6 billion economic bailout package to Pakistan, as Prime Minister Nawaz Sharif hailed an end to the country�s reliance on the lender.</strongThe decision to release the final tranche worth $102 million of the three-year programme came after a review of the country�s economic performance that found it was meeting most reform indicators but still needed to broaden the tax net.IMF delegation head Harald Finger said growth was projected to reach five percent supported by a construction boom linked to the China Pakistan Economic Corridor, an ambitious infrastructure upgrade project intended to link China�s western Xinjiang region to Gwadar port on the Arabian Sea."All indicative targets and structural benchmarks (SB) were met, except for the delayed notification of multi-year tariffs for three power distribution companies," Finger said Thursday in Dubai, referring to measures intended to reduce major fluctuations in electricity costs.The release of the final tranche is subject to approval by the IMF�s executive board though that is considered a formality.In Islamabad, Sharif told lawmakers from his party that his government had ended the country�s reliance on foreign multilateral assistance and was saying "goodbye" to the Fund."With the grace of God, we will say goodbye to IMF after this (agreement)," he said.Sharif had been under pressure from the opposition for seeking the loan in 2013 because its conditions included forcing the government to raise taxes and energy prices.The IMF note cautioned however that to consolidate and reinforce the gains achieved in the last three years, it was important to "strengthen public finances and external buffers, broaden the tax net, (and) improve public financial management," among other measures.
 Tokyo stocks climbed in early trading Friday as a weaker yen boosted exporters, while Toyota surged on forecast-beating quarterly net profits.</strongThe world�s biggest automaker said Thursday it posted a nearly 15 percent drop in its April-June net profit, citing a sharp rally in the yen and falling North American vehicle sales.Toyota, which also trimmed its full-year profit and sales forecast, soared 2.61 percent to 5,840 yen in early deals.The Bank of England Thursday announced its first interest rate cut in more than seven years and a fresh stimulus package to counter the fallout from Britain�s vote to quit the European Union.Those measures lifted the mood among Japanese investors, who are now focused on US monthly employment figures due later in the day, analysts said."The BoE (Bank of England) has taken the stance that they�ll do everything they can in terms of stimulus in the face of uncertainty," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News."An easing situation is more likely to continue across the globe, and this is positive for Japanese stocks."In early deals, the benchmark Nikkei 225 index gained 0.51 percent, or 82.73 points, to 16,337.62, building on a sharp gain of more than one percent the previous day.The broader Topix index of all first-section shares was up 0.42 percent, or 5.39 points, at 1,288.38.In forex markets, the dollar jumped to 101.33 yen from 101.22 yen Thursday in New York.<br/>In European stock trading, London, Frankfurt and Paris rose on Thursday on the news of the BoE measures.On Wall Street, the Dow closed down less than 0.1 percent, while the broad-based S&amp;P 500 ticked less than 0.1 percent higher and the tech-rich Nasdaq advanced 0.1 percent.
� The US economy generated more than a quarter of a million jobs in July -- a bigger-than-expected gain that will likely provide valuable ammunition for Democrat Hillary Clinton as she and Donald Trump battle for the White House.The new numbers released Friday -- which sent US stocks soaring -- were also accompanied by upward revisions of May and June data in a sign the job market in the world�s largest economy is healthier than previously thought.Non-farm payrolls rose by 255,000 positions in July while the unemployment rate remained stable at 4.9 percent, the Labor Department reported. Forecasts had called for a much more modest increase of 185,000 jobs.Private businesses and government employers added 292,000 jobs in June, not the 287,000 first reported, and 24,000 jobs in May, not the very low, downward-revised figure of 11,000."This month�s report confirms that the Great Recession is indeed in the nation�s rearview mirror -- the economy has added jobs for 70 consecutive months, the longest streak on record," Labor Secretary Thomas Perez said.On the White House campaign trail, Clinton has painted a picture of optimism and jobs growth, while Trump has cast America as an economy in decline -- Friday�s numbers can only help Clinton.The Trump campaign sought to downplay the news, with senior policy advisor Stephen Miller saying the recovery was the weakest since the Great Depression, with conditions largely disfavoring working people."Entire communities have been wiped out by off-shoring," said Miller.<br/>"Many workers today are earning less than they did in 1970, and household incomes are down nearly $2,000 under the Obama administration."/><strong>�Fed rate hike?</strongThe closely watched jobs figures help fill out a complex economic picture for market observers eager for signs of whether the US Federal Reserve will raise interest rates later this year.Monetary policy makers earlier this year veered off a course of planned, successive rate hikes as some signs emerged that the American economy might not be on sure footing.The Commerce Department said last month that economic activity had grown by a paltry 1.2 percent in the second quarter.But that data was at odds with Friday�s rosier jobs report. "Employment rose in all sectors of the economy, helping to keep the rate of unemployment at 4.9 percent amid an increase in the number of people entering the labor market looking for work," said Chris Williamson of IHS Markit."Adding to the good news was an improvement in pay growth. Average hourly earnings rose 0.3 percent against expectations of a mere 0.2 percent rise," said Williamson, noting that pay growth was still below pre-crisis rates.Gains were strongest in professional and business services, with 70,000 new jobs added, and in health care, where 43,000 new jobs added. Together, both sectors have added nearly a million jobs in the last 12 months, according to the Labor Department.Employment in mining continued to fall, losing 6,000 positions from the prior month and putting the industry down 220,000 jobs since a peak hit in September 2014.The average workweek rose 0.1 hours to 34.5 hours while average hourly earnings inched upwards by 8 cents to $25.69, up 2.6 percent since the start of the year./><strong>Stocks up</strongEquities markets reacted favorably to the news, with the S&amp;P 500 closing at 2,182.87, about four points above the all-time record set last month.The tech-rich Nasdaq Composite also set a record, closing up 1.1 percent at 5,221.12 while the Dow Jones Industrial Average finished up 1.0 percent at 18,543.53, only 12 points from its record."We believe the trend remains more than strong enough to keep the unemployment rate declining over time," said Jim O�Sullivan of High Frequency Economics."Today�s report helps the case for more Fed tightening before too long -- if strength is sustained -- although officials are being ultra cautious/dovish as they worry about downside risks," he added.
 Oil received a boost on Monday from reports of renewed talks by some OPEC members to restrain output, but analysts warned the bearish fundamentals that brought prices to four-month lows last week still lurked in the background.</strongInternational benchmark Brent futures LCOc1 were trading at $44.77 per barrel at 0930 GMT (0530 ET), up 50 cents, or 1.13 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $42.35 per barrel, up 55 cents, or 1.32 percent.The rise came on the back of fresh calls by some members of the Organization of the Petroleum Exporting Countries to freeze production levels in a bid to rein in output that has consistently outpaced demand.Qatar's energy minister also said on Monday that the oil market is on a path to rebalancing.Still, Russia, the world's top oil producer and a non-OPEC member, was quick to dismiss calls for a freeze.Russian Energy Minister Alexander Novak told reporters that "the position of Russia is that the prerequisites for this have not yet come to pass, considering that prices are still at a more or less normal level".A glut of crude and refined products loomed over the market.In China, July fuel exports rose over 50 percent from a year earlier to a monthly record 4.57 million tonnes, official data showed, as easing demand growth and a surplus in refined products pushed refiners to increase shipments overseas."It would be a surprise if we rapidly moved up to $60," Bjarne Schieldrop, chief commodities analyst with SEB in Oslo, said of Brent prices. "There's a lot of oil there, and we don't need more of it."Meanwhile, the number of oil rigs drilling in the United States rose for the sixth consecutive week to 381.The combination of factors led analysts to warn that the world had not yet dealt with the overhang of physical oil, which could drag prices lower again before any sustained recovery."The proper signals are not yet being sent to fix the product market," Morgan Stanley said in a note, noting that refined products also needed to draw down a large excess."In other words, physical oil markets likely need to get worse before they get better."
 Flight bookings to Britain rose in the month following the country's vote to leave the European Union as international visitors sought to take advantage of a cheaper UK-based holiday after a slump in the pound.</strongInbound flight reservations rose 4.3 percent in the 28 days to July 21 compared to the same period last year, according to travel information firm ForwardKeys, reversing the trend in the month before the referendum when bookings were 2.8 percent lower.Britain's vote to leave the EU on June 23 prompted the pound to weaken against both the dollar and the euro by around 10 percent, making it cheaper for holders of those currencies to visit the UK. GBP = ForwardKeys put the pick-up in bookings to Britain down to the change in the exchange rate."Brexit had an immediate, positive impact on inbound tourism to the UK, which is converting into better than anticipated arrivals," ForwardKeys Chief Executive Olivier Jager said in a statement on Monday.Bookings from outside Europe were up 8.6 percent in the 28 days after Brexit compared with the same period last year, having been down 0.1 percent the month before Brexit, driven by visitors from Hong Kong, the United States and Canada.Bookings from Europeans were 1.8 percent lower than the same month last year in the post-Brexit month, an improvement on the 6.8 percent decline recorded in the pre-Brexit month.The rise in visitor numbers could provide a boost to tourist attractions, hoteliers, restaurants and shops across Britain, some of which are already expecting to benefit from higher numbers of Brits deciding to holiday in the UK, the trend toward the so-called "staycation" during tough economic times.
 Pakistan Tourism Development Corporation�s (PTDC) Motels in Northern Areas and Murree are earning good business from the start of the summer season of this year.</strongDue to rush of domestic tourists from across the country the Motels are remained book by tourists throughout the season.An official of PTDC Mukhtar Ali told APP that most of the people wanted to enjoy summer vacations with their families in popular destinations like Murree, Ayubia, Nathiagali, Swat Valley and other Northern areas.He said that PTDC was analyzing the trend of the tourism and at the end of the season a detail report would be issued for bringing further improvement in the sector.An official of PTDC Motel Swat Valley said that this year the numbers of tourists were increased and sometime they were not able to entertain every tourist in the season.He said that after long time in Swat Valley such a big number of tourists were witnessed to visiting the valley.He said that similar situation was being witnessed in PTDC motels of others areas.He said that Kalam was one of top visited place by the people in current season adding that Kalam had all ingredients to be termed as top tourist destination in the country.
 Tokyo stocks opened sharply higher Monday following another record on Wall Street after traders welcomed strong US jobs data.</strongThe benchmark Nikkei 225 index rallied 1.28 percent, or 207.84 points, to 16,462.29 in opening deals, while the broader Topix index of all first-section shares soared 1.23 percent, or 15.71 points, to 1,295.61.
 Iran said on Tuesday it would auction off property owned by billionaire Babak Zanjani, who was sentenced to death for corruption earlier this year.</strongA number of luxury villas and apartments, shops and other properties will be sold, reported the Mizan Online newspaper, which is close to the judiciary.Bidders must make their offers in sealed envelopes by August 20, it added.Zanjani, 41, was sentenced to death for fraud and other financial crimes in March after a lengthy trial during which he was accused of fraudulently pocketing $2.8 billion.He rose to prominence after the international community imposed sanctions on the Islamic republic�s banks as punishment over its nuclear programme.Zanjani boasted in media interviews of his wealth and skills in finding ways round banking restrictions to ensure Iran continued to receive money for international oil sales, saying he acted at all times with the support of then-president Mahmoud Ahmadinejad.He said he used a web of companies in countries including the United Arab Emirates, Turkey and Malaysia, selling millions of barrels of Iranian oil.Zanjani was arrested in December 2013, three months after current President Hassan Rouhani took office, having pledged to crack down on corruption.
 Oil and Gas Regulation Authority (OGRA) spokesman has categorically stated that Compressed Natural Gas (CNG) cannot be sold in litres in Sindh province.</strongThe spokesman for the regulatory body said, �Sale of CNG in litre in Sindh is illegal. Strict actions will be taken against those violating the orders.�He said OGRA has sent letter to CNG Associations regarding the issue. Different inspection teams have been formed to collect data of CNG pumping stations in Karachi.
 Tokyo stocks opened lower Wednesday as a stronger yen hit exporters and following a lacklustre lead from Wall Street.</strongThe benchmark Nikkei 225 index slipped 0.39 percent, or 65.89 points, to 16,699.08 in opening deals, while the broader Topix index of all first-section shares fell 0.42 percent, or 5.51 points, to 1,311.98.
 Huffington Post co-founder Arianna Huffington said on Thursday she would leave the company to focus on running her new venture, health and wellness startup Thrive Global.</strong"I thought HuffPost would be my last act. But I've decided to step down as HuffPost's editor-in-chief to run my new venture, Thrive Global," she tweeted.Thrive Global, which will offer services to companies to improve the well-being of their employees, recently closed a Series A funding round ahead of a launch in the fall.Verizon Communications Inc owns the Huffington Post through AOL, which bought the liberal American online news aggregator and blog for $315 million in February 2011.
 Switzerland's highest court has ordered Israel to pay Iran around $1.1 billion plus interest in a decades-old dispute over a secretive oil pipeline company predating the 1979 Islamic revolution which made the countries enemies.</strongThe Swiss Federal Tribunal rejected an appeal, citing lack of due process, against an arbitration ruling last year. The verdict, dated June 27, was available on the Lausanne court's website.It also awarded Iran 450,000 Swiss francs ($461,302) in court costs and lawyer fees.It remains unclear whether Israel will pay up given restrictions its "trading with the enemy" laws.Lawyers for each side had been locked in an arbitration over the Eilat-Ashkelon Pipeline Co (EAPC), a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil to the Mediterranean.For a decade, the pipeline successfully carried oil from the Red Sea for export to Europe. But since the Islamic revolution that brought the ayatollahs to power, Iran has been demanding its share of revenues and assets that remained in Israel.Since the partnership collapsed, EAPC has grown into a complex of energy assets, now mostly handling oil from former Soviet states.How much profit it has made or how much it is worth is unknown, largely because it is protected in a similar way to Israel's intelligence agencies, including by gag orders restricting coverage of its activities.But Tehran, setting aside its decades-old refusal to recognise Israel's right to exist, had determined to recoup its part of EAPC and pursued a complex arbitration case since 1994, first in France and then in Switzerland.In that time, the company has become the largest distributor of oil in Israel, with ambitions to become a major hub for energy trading in the Mediterranean. Israel maintains tight controls over EAPC.The company has its roots in the 1967 Middle East war, when Egypt blocked the Suez Canal, making it impossible for Iran to transport its oil by tanker to Europe. Under the EAPC deal, Iranian tankers would unload at the Red Sea port of Eilat and oil would flow 254 km (158 miles) northwest to Ashkelon.The countries formed a straw company in Halifax, Canada called APC Holdings, the primary shareholder in EAPC. By December 1969 the pipeline was ready to handle 60 million tons of crude a year, though it never reached that level.A decade later Iran's Shah was ousted and the partners in EAPC became enemies overnight.Lawyers for both countries have declined to comment.Case number: 4A_322/2015 ($1 = 0.9755 Swiss francs)
 It�s been an eventful few days for Mohammad Basheer Abdul Khadar, an Indian living in Dubai.</strongIn the space of a week, he survived a crash landing at Dubai airport then won $1 million in a lottery organised by the airport�s duty free operator, Gulf News reported.The 62-year-old was flying home from holidays with family in India when the Boeing 777 in which he was travelling caught fire on landing with 300 people on board.The accident on Wednesday shut down the Middle East�s busiest airport for several hours, forcing authorities to cancel hundreds of flights. All the passengers and crew escaped unharmed, but a firefighter died tackling the blaze.Just six days later, Khadar discovered that the lottery ticket he�d bought on the way to India was now worth $1 million.A fleet administrator with a Dubai car dealership, Khadar told Gulf News he habitually bought a lottery ticket on his way to visit family in the southern Indian state of Kerala.Ticket number 845 in the "Millenium Millionaire" draw at the airport�s Dubai Duty Free proved to be his winning shot."I live a simple life, and now that it�s my time to retire, I feel like God gave me a second life when I survived the plane crash, and blessed me with this money to follow all this up by doing good things," he told Gulf News.Khadar has lived in Dubai for 37 years and is married with two children, one of whom is paralysed after a fall early on in his childhood, reported Gulf News.Khadar told Gulf News he was planning to return to Kerala to retire and would use the money to help children in Kerala who need financial support.He said he earns around $2,200 (2,000 euros) a month, and would continue to work as long as he could."Nothing else can give you the satisfaction of your hard-earned money," he said.
 Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.</strongThe benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent."Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday�s close.Overnight rates in the money market fell to 5.40 percent from Friday�s close of 6.30 percent.
 International financial market analysis firm BMI says that Pakistan will be developed as manufacturing hub over the coming years.</strongAccording to a Business Monitor International report, Pakistan will be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report reveals that Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in coming years.BMI says textile and automotive sectors in Pakistan are showing the fastest growth rate.The domestic manufacturing investment is also expected to be boosted considering the lower energy prices and an improved domestic energy supply.Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in the coming years. In the beginning of BMI�s Forecast period the textile and automotive sector presented a faster growth.The domestic manufacturing investment is expected to be boosted considering the lower energy prices and an improved domestic energy supply.
 The Jewellary exports from the country increased by 28.78 percent during the fiscal year 2015 16 compared to the corresponding period of last year.</strongThe overall exports of jewellary from the country during July June (2015 16) were recorded at 8.492 million compared to the exports of 6.594 million in July June (2014 15) according to Pakistan Bureau of Statistics (PBS).Meanwhile on year on year basis the jewellary exports increased by 183.55 million in June 2016 compared to the exports of June 2015. The Jewellary exports during June 2016 were recorded at 1.310million in June 2016 compared to the exports of 0.462 million in June 2015. On month on month basis the exports of jewellary increased by18.23 percent in June 2016 when compared to the exports of 1.108million in May 2016, the PBS data revealed.Meanwhile the gem exports from the country declined by 49.72percent during the fiscal year 2015 16 by going down from 7.846million last year to 3.944 million during the current year.On year on year basis the exports of gems however decreased by 30.83 percent in June 2016 to 0.249 million compared to the exports of 0.360 million.While as compared to the exports of 0.487 million in May2016 the exports of gems in June decreased by 48.87 percent.It is pertinent to mention here that the overall mercantile exports from the country declined by 12.11 percent during the year2015 16 as compared to same period of previous year.The country s exports went down from 23.667 billion in July June (2014 15) to 20.802 billion during corresponding period of the year 2015 16.
 Tokyo stocks opened lower Monday, despite a mostly solid lead from Wall Street after the Bank of Japan last week disappointed investors with underwhelming tweaks to its stimulus programme.</strongThe benchmark Nikkei 225 index slipped 0.93 percent, or 153.96 points, to open at 16,415.31, while the broader Topix index of all first-section shares lost 1.09 percent, or 14.44 points, to 1,308.30.
 The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.</strongThe valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.The valuation shows various categories of open and constructed plots.
 The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday.</strongCustoms and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey�s economic fundamentals were solid."Warplanes, helicopters, weapons, bombs, buildings: 300 billion lira. Maybe I am underestimating a bit," he said, referring to the heavy destruction on the night of the coup."It might go up even more," he said.But the minister warned that the entire picture should be seen in a medium-term context even if some investors had been put off in the short-term."The putschists made Turkey seem like a third world country," he fumed."They (investors) are not coming after the images revealed tanks were deployed on the streets, parliament was bombed," he said, adding that some foreign orders had been cancelled in the wake of the coup.But Tufenkci said despite all this Turkey had managed to control the situation."Had the coup taken place in another country, markets would not have opened earlier than in a week," he said. The coup took place on Friday July 15 but financial markets in Turkey opened as normal after the weekend."The interest rates didn�t rise extraordinarily. The stock exchange�s losses have been limited. There�s no need to revise growth or export figures. The nation has stood firm."The government has suspended annual leave of public sector personnel in the wake of the coup attempt, blamed by the government on supporters of US-based Islamic preacher Fethullah Gulen.This measure has affected the tourism industry, already hit by foreigners staying away over security fears after a spate of attacks as well as a crisis with Russia."Because of a ban on annual leave, one million (tourism) reservations had been cancelled," the minister said.The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year but there is optimism the Russians will come back after Ankara mended fences with Moscow."From now on tourism will also rally," said Tufenkci.
 The Pakistan State Oil (PSO) has received Rs 293 billion payment against supplies amounting to Rs 308 billion made to different power sector entities during last 16 months.</strongThe government is making all out efforts to avoid further accumulatation of the PSO receivables which are around Rs 146 billion, official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.They informed that the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion after the government injected Rs 40 billion on behalf of the power sector entities.Besides the government evolved an effective strategy to ensure payments against the furnance oil supplies to the PSO within seven days aimed at avoiding further accumulation of the circular debt.Commenting on the PSO�s receivables they said in addition to the outstanding amount the PSO had the price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.The sources said WAPDA, PEPCO owed Rs 104.30 billion, HUBCO Rs39.5 billion, KAPCO Rs 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.
 Minister for Finance Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government s strong commitment in implementing difficult structural reforms in the areas of taxation energy monetary financial sectors and public sector enterprises.</strongFinance Minister Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger IMF Mission Chief here.Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3 year Extended Fund Facility (EFF) programme for an amount of 6.4 billion.Highlighting the overall programme performance of Pakistan the Finance Minister said Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory.We met the end June 2016 Quantitative Performance Criteria on Net International Reserves Foreign currency swap forward position and government borrowing from SBP by significant margins.The targets on Net Domestic Assets and budget deficit were missed marginally he remarked.Finance Minister Ishaq Dar said that the indicative target for end June 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met.He informed that Federal Board of Revenue (FBR) not only achieved its annual target of Rs. 3104 billion but exceeded it.
 At an Innisfree cosmetics store in Seoul's popular Myeongdong shopping district, a saleswoman helps 21-year-old Chinese tourist Yang Hui carry her shopping baskets to the pay desk in front of a large display showing K-Pop star Yoona</strong>."There's a lot to choose from," said Yang, confessing to having bought more than she'd planned from the store's range of around 900 products.South Korea's top cosmetics company Amorepacific Group (002790.KS) launches some 400 new Innisfree branded products a year, about half of which are no longer available a year later.It's one of dozens of Korean mass cosmetics brands with a short product development cycle - a "fast beauty" approach that is increasingly popular among Chinese and other Asian millennials, gaining exposure in the United States and Europe, and attracting high-profile foreign investment.South Korea has become a hot-bed for applying to cosmetics the "fast fashion" principles of shifting designs quickly from catwalk to Main Street to capitalise on new trends.Thousands of small cosmetics firms compete to get their new products to market, with third-party manufacturers cutting the time on testing and recipe alignment and providing the capacity for swift market launch.Korean brands have cut product development cycles to as little as four months, compared to over a year for global brands, industry experts say."When we received an eyeshadow order from a major global client in 2004, it took us two years to begin production. Now it takes us one year from the word go," said Lim Dae-gyu, a director at Cosmax Inc (192820.KS), a cosmetics manufacturer with annual sales of close to $500 million."For South Korean mass brands, it takes less - just 4-6 months from planning to market launch is average," Lim added.strong>WINNING FORMULA</strongSouth Korea last year overtook the United States and Japan to become the No. 2 cosmetics exporter to China after France. It shipped $1.1 billion worth of skincare creams, facial masks, compacts and other cosmetic products to the world's second-largest economy, according to the Ministry of Food and Drug Safety.South Korea's total cosmetics exports were worth $2.59 billion, up 44 percent from 2014, with Hong Kong and the United States its second- and third-biggest markets, a long way behind China.Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists. Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.The trade is not without its downside. To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said. Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory."New ingredients, new packaging, new formulas come on the market continuously, and when something does well Korean brands respond quickly," said Jang Jun-kee, managing director of the Korea Cosmetics Foundation, an industry group.Amorepacific's 2008 hit product, the cushion compact - a multifunctional sponge applicator for anything from liquid facial cover and sun protection to make-up base and moisturiser - inspired follow-up products from global brands such as L'Oreal's (OREP.PA) Lancome and Estee Lauder's (EL.N) Clinique.Innovative, often cute, packaging also helps.The Face Shop, a mass brand from South Korea's second-ranked cosmetics firm LG Household &amp; Health Care (051900.KS), said last month it sold out of its initial 130,000 cushion compacts featuring Disney characters - costing 20,000 won ($17.82) - in just two days. It said it expects to launch about 600 new products this year.Beyond popularising beauty trends such as facial cosmetic products "BB cream" and "CC cream", South Korea has a reputation for innovation and for using natural and Oriental medicine ingredients from flowers and tea leaves to donkey milk, snail and seahorse to differentiate its so-called K-beauty products."Korean consumers are very sophisticated. Their interest in beauty and expectations of cosmetics are high and they are willing to try new concepts," L'Oreal Korea said in emailed comments to Reuters. "It's a market where new trends emerge before potentially going global."strong>CHINA FOUNDATION</strongFor foreign investors, buying into the Korean success story is a convenient way also into China, where locals can't get enough of Korean TV dramas and K-Pop music."We find beauty and media-entertainment sectors to be the most exciting (in Korea)," said Ravi Thakran, the chairman and managing partner at L Capital Asia, a unit of LVMH (LVMH.PA), which last month became a major shareholder in South Korean colour cosmetics brand CLIO.�"The popularity of Korean culture such as K-Pop, dramas and celebrities boosted significant demand for Korean beauty products in China and other Southeast Asian countries," he added.Beyond China, Korean cosmetics have also moved into chains including LVMH's Sephora, Target (TGT.N) and Urban Outfitters (URBN.O), according to Korea's state-run trade agency KOTRA.The LVMH unit's investment in CLIO came just weeks after Goldman Sachs (GS.N) and Bain Capital Private Equity said they were buying a majority stake in unlisted cosmetics maker Carver Korea Co Ltd.($1 = 1,107.9000 won)
 The International Monetary Fund (IMF) has announced it will release the last instalment of a $6.6 billion economic bailout package to Pakistan, as Prime Minister Nawaz Sharif hailed an end to the country�s reliance on the lender.</strongThe decision to release the final tranche worth $102 million of the three-year programme came after a review of the country�s economic performance that found it was meeting most reform indicators but still needed to broaden the tax net.IMF delegation head Harald Finger said growth was projected to reach five percent supported by a construction boom linked to the China Pakistan Economic Corridor, an ambitious infrastructure upgrade project intended to link China�s western Xinjiang region to Gwadar port on the Arabian Sea."All indicative targets and structural benchmarks (SB) were met, except for the delayed notification of multi-year tariffs for three power distribution companies," Finger said Thursday in Dubai, referring to measures intended to reduce major fluctuations in electricity costs.The release of the final tranche is subject to approval by the IMF�s executive board though that is considered a formality.In Islamabad, Sharif told lawmakers from his party that his government had ended the country�s reliance on foreign multilateral assistance and was saying "goodbye" to the Fund."With the grace of God, we will say goodbye to IMF after this (agreement)," he said.Sharif had been under pressure from the opposition for seeking the loan in 2013 because its conditions included forcing the government to raise taxes and energy prices.The IMF note cautioned however that to consolidate and reinforce the gains achieved in the last three years, it was important to "strengthen public finances and external buffers, broaden the tax net, (and) improve public financial management," among other measures.
 Tokyo stocks climbed in early trading Friday as a weaker yen boosted exporters, while Toyota surged on forecast-beating quarterly net profits.</strongThe world�s biggest automaker said Thursday it posted a nearly 15 percent drop in its April-June net profit, citing a sharp rally in the yen and falling North American vehicle sales.Toyota, which also trimmed its full-year profit and sales forecast, soared 2.61 percent to 5,840 yen in early deals.The Bank of England Thursday announced its first interest rate cut in more than seven years and a fresh stimulus package to counter the fallout from Britain�s vote to quit the European Union.Those measures lifted the mood among Japanese investors, who are now focused on US monthly employment figures due later in the day, analysts said."The BoE (Bank of England) has taken the stance that they�ll do everything they can in terms of stimulus in the face of uncertainty," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News."An easing situation is more likely to continue across the globe, and this is positive for Japanese stocks."In early deals, the benchmark Nikkei 225 index gained 0.51 percent, or 82.73 points, to 16,337.62, building on a sharp gain of more than one percent the previous day.The broader Topix index of all first-section shares was up 0.42 percent, or 5.39 points, at 1,288.38.In forex markets, the dollar jumped to 101.33 yen from 101.22 yen Thursday in New York.<br/>In European stock trading, London, Frankfurt and Paris rose on Thursday on the news of the BoE measures.On Wall Street, the Dow closed down less than 0.1 percent, while the broad-based S&amp;P 500 ticked less than 0.1 percent higher and the tech-rich Nasdaq advanced 0.1 percent.
� The US economy generated more than a quarter of a million jobs in July -- a bigger-than-expected gain that will likely provide valuable ammunition for Democrat Hillary Clinton as she and Donald Trump battle for the White House.The new numbers released Friday -- which sent US stocks soaring -- were also accompanied by upward revisions of May and June data in a sign the job market in the world�s largest economy is healthier than previously thought.Non-farm payrolls rose by 255,000 positions in July while the unemployment rate remained stable at 4.9 percent, the Labor Department reported. Forecasts had called for a much more modest increase of 185,000 jobs.Private businesses and government employers added 292,000 jobs in June, not the 287,000 first reported, and 24,000 jobs in May, not the very low, downward-revised figure of 11,000."This month�s report confirms that the Great Recession is indeed in the nation�s rearview mirror -- the economy has added jobs for 70 consecutive months, the longest streak on record," Labor Secretary Thomas Perez said.On the White House campaign trail, Clinton has painted a picture of optimism and jobs growth, while Trump has cast America as an economy in decline -- Friday�s numbers can only help Clinton.The Trump campaign sought to downplay the news, with senior policy advisor Stephen Miller saying the recovery was the weakest since the Great Depression, with conditions largely disfavoring working people."Entire communities have been wiped out by off-shoring," said Miller.<br/>"Many workers today are earning less than they did in 1970, and household incomes are down nearly $2,000 under the Obama administration."/><strong>�Fed rate hike?</strongThe closely watched jobs figures help fill out a complex economic picture for market observers eager for signs of whether the US Federal Reserve will raise interest rates later this year.Monetary policy makers earlier this year veered off a course of planned, successive rate hikes as some signs emerged that the American economy might not be on sure footing.The Commerce Department said last month that economic activity had grown by a paltry 1.2 percent in the second quarter.But that data was at odds with Friday�s rosier jobs report. "Employment rose in all sectors of the economy, helping to keep the rate of unemployment at 4.9 percent amid an increase in the number of people entering the labor market looking for work," said Chris Williamson of IHS Markit."Adding to the good news was an improvement in pay growth. Average hourly earnings rose 0.3 percent against expectations of a mere 0.2 percent rise," said Williamson, noting that pay growth was still below pre-crisis rates.Gains were strongest in professional and business services, with 70,000 new jobs added, and in health care, where 43,000 new jobs added. Together, both sectors have added nearly a million jobs in the last 12 months, according to the Labor Department.Employment in mining continued to fall, losing 6,000 positions from the prior month and putting the industry down 220,000 jobs since a peak hit in September 2014.The average workweek rose 0.1 hours to 34.5 hours while average hourly earnings inched upwards by 8 cents to $25.69, up 2.6 percent since the start of the year./><strong>Stocks up</strongEquities markets reacted favorably to the news, with the S&amp;P 500 closing at 2,182.87, about four points above the all-time record set last month.The tech-rich Nasdaq Composite also set a record, closing up 1.1 percent at 5,221.12 while the Dow Jones Industrial Average finished up 1.0 percent at 18,543.53, only 12 points from its record."We believe the trend remains more than strong enough to keep the unemployment rate declining over time," said Jim O�Sullivan of High Frequency Economics."Today�s report helps the case for more Fed tightening before too long -- if strength is sustained -- although officials are being ultra cautious/dovish as they worry about downside risks," he added.
 Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.</strongThe benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent."Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday�s close.Overnight rates in the money market fell to 5.40 percent from Friday�s close of 6.30 percent.
 International financial market analysis firm BMI says that Pakistan will be developed as manufacturing hub over the coming years.</strongAccording to a Business Monitor International report, Pakistan will be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report reveals that Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in coming years.BMI says textile and automotive sectors in Pakistan are showing the fastest growth rate.The domestic manufacturing investment is also expected to be boosted considering the lower energy prices and an improved domestic energy supply.Pakistan whose current primary sector is agribusiness with textile and rice being the key exports is expected to become a manufacturing hub in the coming years. In the beginning of BMI�s Forecast period the textile and automotive sector presented a faster growth.The domestic manufacturing investment is expected to be boosted considering the lower energy prices and an improved domestic energy supply.
 The Jewellary exports from the country increased by 28.78 percent during the fiscal year 2015 16 compared to the corresponding period of last year.</strongThe overall exports of jewellary from the country during July June (2015 16) were recorded at 8.492 million compared to the exports of 6.594 million in July June (2014 15) according to Pakistan Bureau of Statistics (PBS).Meanwhile on year on year basis the jewellary exports increased by 183.55 million in June 2016 compared to the exports of June 2015. The Jewellary exports during June 2016 were recorded at 1.310million in June 2016 compared to the exports of 0.462 million in June 2015. On month on month basis the exports of jewellary increased by18.23 percent in June 2016 when compared to the exports of 1.108million in May 2016, the PBS data revealed.Meanwhile the gem exports from the country declined by 49.72percent during the fiscal year 2015 16 by going down from 7.846million last year to 3.944 million during the current year.On year on year basis the exports of gems however decreased by 30.83 percent in June 2016 to 0.249 million compared to the exports of 0.360 million.While as compared to the exports of 0.487 million in May2016 the exports of gems in June decreased by 48.87 percent.It is pertinent to mention here that the overall mercantile exports from the country declined by 12.11 percent during the year2015 16 as compared to same period of previous year.The country s exports went down from 23.667 billion in July June (2014 15) to 20.802 billion during corresponding period of the year 2015 16.
 Tokyo stocks opened lower Monday, despite a mostly solid lead from Wall Street after the Bank of Japan last week disappointed investors with underwhelming tweaks to its stimulus programme.</strongThe benchmark Nikkei 225 index slipped 0.93 percent, or 153.96 points, to open at 16,415.31, while the broader Topix index of all first-section shares lost 1.09 percent, or 14.44 points, to 1,308.30.
 The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.</strongThe valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.The valuation shows various categories of open and constructed plots.
 The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday.</strongCustoms and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey�s economic fundamentals were solid."Warplanes, helicopters, weapons, bombs, buildings: 300 billion lira. Maybe I am underestimating a bit," he said, referring to the heavy destruction on the night of the coup."It might go up even more," he said.But the minister warned that the entire picture should be seen in a medium-term context even if some investors had been put off in the short-term."The putschists made Turkey seem like a third world country," he fumed."They (investors) are not coming after the images revealed tanks were deployed on the streets, parliament was bombed," he said, adding that some foreign orders had been cancelled in the wake of the coup.But Tufenkci said despite all this Turkey had managed to control the situation."Had the coup taken place in another country, markets would not have opened earlier than in a week," he said. The coup took place on Friday July 15 but financial markets in Turkey opened as normal after the weekend."The interest rates didn�t rise extraordinarily. The stock exchange�s losses have been limited. There�s no need to revise growth or export figures. The nation has stood firm."The government has suspended annual leave of public sector personnel in the wake of the coup attempt, blamed by the government on supporters of US-based Islamic preacher Fethullah Gulen.This measure has affected the tourism industry, already hit by foreigners staying away over security fears after a spate of attacks as well as a crisis with Russia."Because of a ban on annual leave, one million (tourism) reservations had been cancelled," the minister said.The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year but there is optimism the Russians will come back after Ankara mended fences with Moscow."From now on tourism will also rally," said Tufenkci.
 The Pakistan State Oil (PSO) has received Rs 293 billion payment against supplies amounting to Rs 308 billion made to different power sector entities during last 16 months.</strongThe government is making all out efforts to avoid further accumulatation of the PSO receivables which are around Rs 146 billion, official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.They informed that the balance of circular debt which was at Rs 181 billion at the start of January 2015 had been reduced to Rs 146 billion after the government injected Rs 40 billion on behalf of the power sector entities.Besides the government evolved an effective strategy to ensure payments against the furnance oil supplies to the PSO within seven days aimed at avoiding further accumulation of the circular debt.Commenting on the PSO�s receivables they said in addition to the outstanding amount the PSO had the price differential claims of Rs 9.6 billion against the government and late payment charges claims of Rs 55.5 billion against WAPDA, HUBCO and KAPCO.The sources said WAPDA, PEPCO owed Rs 104.30 billion, HUBCO Rs39.5 billion, KAPCO Rs 2.4 billion and Saba Power Southern Electric Rs 0.4 billion.
 Minister for Finance Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government s strong commitment in implementing difficult structural reforms in the areas of taxation energy monetary financial sectors and public sector enterprises.</strongFinance Minister Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger IMF Mission Chief here.Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3 year Extended Fund Facility (EFF) programme for an amount of 6.4 billion.Highlighting the overall programme performance of Pakistan the Finance Minister said Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory.We met the end June 2016 Quantitative Performance Criteria on Net International Reserves Foreign currency swap forward position and government borrowing from SBP by significant margins.The targets on Net Domestic Assets and budget deficit were missed marginally he remarked.Finance Minister Ishaq Dar said that the indicative target for end June 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met.He informed that Federal Board of Revenue (FBR) not only achieved its annual target of Rs. 3104 billion but exceeded it.
 At an Innisfree cosmetics store in Seoul's popular Myeongdong shopping district, a saleswoman helps 21-year-old Chinese tourist Yang Hui carry her shopping baskets to the pay desk in front of a large display showing K-Pop star Yoona</strong>."There's a lot to choose from," said Yang, confessing to having bought more than she'd planned from the store's range of around 900 products.South Korea's top cosmetics company Amorepacific Group (002790.KS) launches some 400 new Innisfree branded products a year, about half of which are no longer available a year later.It's one of dozens of Korean mass cosmetics brands with a short product development cycle - a "fast beauty" approach that is increasingly popular among Chinese and other Asian millennials, gaining exposure in the United States and Europe, and attracting high-profile foreign investment.South Korea has become a hot-bed for applying to cosmetics the "fast fashion" principles of shifting designs quickly from catwalk to Main Street to capitalise on new trends.Thousands of small cosmetics firms compete to get their new products to market, with third-party manufacturers cutting the time on testing and recipe alignment and providing the capacity for swift market launch.Korean brands have cut product development cycles to as little as four months, compared to over a year for global brands, industry experts say."When we received an eyeshadow order from a major global client in 2004, it took us two years to begin production. Now it takes us one year from the word go," said Lim Dae-gyu, a director at Cosmax Inc (192820.KS), a cosmetics manufacturer with annual sales of close to $500 million."For South Korean mass brands, it takes less - just 4-6 months from planning to market launch is average," Lim added.strong>WINNING FORMULA</strongSouth Korea last year overtook the United States and Japan to become the No. 2 cosmetics exporter to China after France. It shipped $1.1 billion worth of skincare creams, facial masks, compacts and other cosmetic products to the world's second-largest economy, according to the Ministry of Food and Drug Safety.South Korea's total cosmetics exports were worth $2.59 billion, up 44 percent from 2014, with Hong Kong and the United States its second- and third-biggest markets, a long way behind China.Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists. Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.The trade is not without its downside. To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said. Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory."New ingredients, new packaging, new formulas come on the market continuously, and when something does well Korean brands respond quickly," said Jang Jun-kee, managing director of the Korea Cosmetics Foundation, an industry group.Amorepacific's 2008 hit product, the cushion compact - a multifunctional sponge applicator for anything from liquid facial cover and sun protection to make-up base and moisturiser - inspired follow-up products from global brands such as L'Oreal's (OREP.PA) Lancome and Estee Lauder's (EL.N) Clinique.Innovative, often cute, packaging also helps.The Face Shop, a mass brand from South Korea's second-ranked cosmetics firm LG Household &amp; Health Care (051900.KS), said last month it sold out of its initial 130,000 cushion compacts featuring Disney characters - costing 20,000 won ($17.82) - in just two days. It said it expects to launch about 600 new products this year.Beyond popularising beauty trends such as facial cosmetic products "BB cream" and "CC cream", South Korea has a reputation for innovation and for using natural and Oriental medicine ingredients from flowers and tea leaves to donkey milk, snail and seahorse to differentiate its so-called K-beauty products."Korean consumers are very sophisticated. Their interest in beauty and expectations of cosmetics are high and they are willing to try new concepts," L'Oreal Korea said in emailed comments to Reuters. "It's a market where new trends emerge before potentially going global."strong>CHINA FOUNDATION</strongFor foreign investors, buying into the Korean success story is a convenient way also into China, where locals can't get enough of Korean TV dramas and K-Pop music."We find beauty and media-entertainment sectors to be the most exciting (in Korea)," said Ravi Thakran, the chairman and managing partner at L Capital Asia, a unit of LVMH (LVMH.PA), which last month became a major shareholder in South Korean colour cosmetics brand CLIO.�"The popularity of Korean culture such as K-Pop, dramas and celebrities boosted significant demand for Korean beauty products in China and other Southeast Asian countries," he added.Beyond China, Korean cosmetics have also moved into chains including LVMH's Sephora, Target (TGT.N) and Urban Outfitters (URBN.O), according to Korea's state-run trade agency KOTRA.The LVMH unit's investment in CLIO came just weeks after Goldman Sachs (GS.N) and Bain Capital Private Equity said they were buying a majority stake in unlisted cosmetics maker Carver Korea Co Ltd.($1 = 1,107.9000 won)
 The International Monetary Fund (IMF) has announced it will release the last instalment of a $6.6 billion economic bailout package to Pakistan, as Prime Minister Nawaz Sharif hailed an end to the country�s reliance on the lender.</strongThe decision to release the final tranche worth $102 million of the three-year programme came after a review of the country�s economic performance that found it was meeting most reform indicators but still needed to broaden the tax net.IMF delegation head Harald Finger said growth was projected to reach five percent supported by a construction boom linked to the China Pakistan Economic Corridor, an ambitious infrastructure upgrade project intended to link China�s western Xinjiang region to Gwadar port on the Arabian Sea."All indicative targets and structural benchmarks (SB) were met, except for the delayed notification of multi-year tariffs for three power distribution companies," Finger said Thursday in Dubai, referring to measures intended to reduce major fluctuations in electricity costs.The release of the final tranche is subject to approval by the IMF�s executive board though that is considered a formality.In Islamabad, Sharif told lawmakers from his party that his government had ended the country�s reliance on foreign multilateral assistance and was saying "goodbye" to the Fund."With the grace of God, we will say goodbye to IMF after this (agreement)," he said.Sharif had been under pressure from the opposition for seeking the loan in 2013 because its conditions included forcing the government to raise taxes and energy prices.The IMF note cautioned however that to consolidate and reinforce the gains achieved in the last three years, it was important to "strengthen public finances and external buffers, broaden the tax net, (and) improve public financial management," among other measures.
 Tokyo stocks climbed in early trading Friday as a weaker yen boosted exporters, while Toyota surged on forecast-beating quarterly net profits.</strongThe world�s biggest automaker said Thursday it posted a nearly 15 percent drop in its April-June net profit, citing a sharp rally in the yen and falling North American vehicle sales.Toyota, which also trimmed its full-year profit and sales forecast, soared 2.61 percent to 5,840 yen in early deals.The Bank of England Thursday announced its first interest rate cut in more than seven years and a fresh stimulus package to counter the fallout from Britain�s vote to quit the European Union.Those measures lifted the mood among Japanese investors, who are now focused on US monthly employment figures due later in the day, analysts said."The BoE (Bank of England) has taken the stance that they�ll do everything they can in terms of stimulus in the face of uncertainty," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News."An easing situation is more likely to continue across the globe, and this is positive for Japanese stocks."In early deals, the benchmark Nikkei 225 index gained 0.51 percent, or 82.73 points, to 16,337.62, building on a sharp gain of more than one percent the previous day.The broader Topix index of all first-section shares was up 0.42 percent, or 5.39 points, at 1,288.38.In forex markets, the dollar jumped to 101.33 yen from 101.22 yen Thursday in New York.<br/>In European stock trading, London, Frankfurt and Paris rose on Thursday on the news of the BoE measures.On Wall Street, the Dow closed down less than 0.1 percent, while the broad-based S&amp;P 500 ticked less than 0.1 percent higher and the tech-rich Nasdaq advanced 0.1 percent.
� The US economy generated more than a quarter of a million jobs in July -- a bigger-than-expected gain that will likely provide valuable ammunition for Democrat Hillary Clinton as she and Donald Trump battle for the White House.The new numbers released Friday -- which sent US stocks soaring -- were also accompanied by upward revisions of May and June data in a sign the job market in the world�s largest economy is healthier than previously thought.Non-farm payrolls rose by 255,000 positions in July while the unemployment rate remained stable at 4.9 percent, the Labor Department reported. Forecasts had called for a much more modest increase of 185,000 jobs.Private businesses and government employers added 292,000 jobs in June, not the 287,000 first reported, and 24,000 jobs in May, not the very low, downward-revised figure of 11,000."This month�s report confirms that the Great Recession is indeed in the nation�s rearview mirror -- the economy has added jobs for 70 consecutive months, the longest streak on record," Labor Secretary Thomas Perez said.On the White House campaign trail, Clinton has painted a picture of optimism and jobs growth, while Trump has cast America as an economy in decline -- Friday�s numbers can only help Clinton.The Trump campaign sought to downplay the news, with senior policy advisor Stephen Miller saying the recovery was the weakest since the Great Depression, with conditions largely disfavoring working people."Entire communities have been wiped out by off-shoring," said Miller.<br/>"Many workers today are earning less than they did in 1970, and household incomes are down nearly $2,000 under the Obama administration."/><strong>�Fed rate hike?</strongThe closely watched jobs figures help fill out a complex economic picture for market observers eager for signs of whether the US Federal Reserve will raise interest rates later this year.Monetary policy makers earlier this year veered off a course of planned, successive rate hikes as some signs emerged that the American economy might not be on sure footing.The Commerce Department said last month that economic activity had grown by a paltry 1.2 percent in the second quarter.But that data was at odds with Friday�s rosier jobs report. "Employment rose in all sectors of the economy, helping to keep the rate of unemployment at 4.9 percent amid an increase in the number of people entering the labor market looking for work," said Chris Williamson of IHS Markit."Adding to the good news was an improvement in pay growth. Average hourly earnings rose 0.3 percent against expectations of a mere 0.2 percent rise," said Williamson, noting that pay growth was still below pre-crisis rates.Gains were strongest in professional and business services, with 70,000 new jobs added, and in health care, where 43,000 new jobs added. Together, both sectors have added nearly a million jobs in the last 12 months, according to the Labor Department.Employment in mining continued to fall, losing 6,000 positions from the prior month and putting the industry down 220,000 jobs since a peak hit in September 2014.The average workweek rose 0.1 hours to 34.5 hours while average hourly earnings inched upwards by 8 cents to $25.69, up 2.6 percent since the start of the year./><strong>Stocks up</strongEquities markets reacted favorably to the news, with the S&amp;P 500 closing at 2,182.87, about four points above the all-time record set last month.The tech-rich Nasdaq Composite also set a record, closing up 1.1 percent at 5,221.12 while the Dow Jones Industrial Average finished up 1.0 percent at 18,543.53, only 12 points from its record."We believe the trend remains more than strong enough to keep the unemployment rate declining over time," said Jim O�Sullivan of High Frequency Economics."Today�s report helps the case for more Fed tightening before too long -- if strength is sustained -- although officials are being ultra cautious/dovish as they worry about downside risks," he added.
 Oil received a boost on Monday from reports of renewed talks by some OPEC members to restrain output, but analysts warned the bearish fundamentals that brought prices to four-month lows last week still lurked in the background.</strongInternational benchmark Brent futures LCOc1 were trading at $44.77 per barrel at 0930 GMT (0530 ET), up 50 cents, or 1.13 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $42.35 per barrel, up 55 cents, or 1.32 percent.The rise came on the back of fresh calls by some members of the Organization of the Petroleum Exporting Countries to freeze production levels in a bid to rein in output that has consistently outpaced demand.Qatar's energy minister also said on Monday that the oil market is on a path to rebalancing.Still, Russia, the world's top oil producer and a non-OPEC member, was quick to dismiss calls for a freeze.Russian Energy Minister Alexander Novak told reporters that "the position of Russia is that the prerequisites for this have not yet come to pass, considering that prices are still at a more or less normal level".A glut of crude and refined products loomed over the market.In China, July fuel exports rose over 50 percent from a year earlier to a monthly record 4.57 million tonnes, official data showed, as easing demand growth and a surplus in refined products pushed refiners to increase shipments overseas."It would be a surprise if we rapidly moved up to $60," Bjarne Schieldrop, chief commodities analyst with SEB in Oslo, said of Brent prices. "There's a lot of oil there, and we don't need more of it."Meanwhile, the number of oil rigs drilling in the United States rose for the sixth consecutive week to 381.The combination of factors led analysts to warn that the world had not yet dealt with the overhang of physical oil, which could drag prices lower again before any sustained recovery."The proper signals are not yet being sent to fix the product market," Morgan Stanley said in a note, noting that refined products also needed to draw down a large excess."In other words, physical oil markets likely need to get worse before they get better."
 Flight bookings to Britain rose in the month following the country's vote to leave the European Union as international visitors sought to take advantage of a cheaper UK-based holiday after a slump in the pound.</strongInbound flight reservations rose 4.3 percent in the 28 days to July 21 compared to the same period last year, according to travel information firm ForwardKeys, reversing the trend in the month before the referendum when bookings were 2.8 percent lower.Britain's vote to leave the EU on June 23 prompted the pound to weaken against both the dollar and the euro by around 10 percent, making it cheaper for holders of those currencies to visit the UK. GBP = ForwardKeys put the pick-up in bookings to Britain down to the change in the exchange rate."Brexit had an immediate, positive impact on inbound tourism to the UK, which is converting into better than anticipated arrivals," ForwardKeys Chief Executive Olivier Jager said in a statement on Monday.Bookings from outside Europe were up 8.6 percent in the 28 days after Brexit compared with the same period last year, having been down 0.1 percent the month before Brexit, driven by visitors from Hong Kong, the United States and Canada.Bookings from Europeans were 1.8 percent lower than the same month last year in the post-Brexit month, an improvement on the 6.8 percent decline recorded in the pre-Brexit month.The rise in visitor numbers could provide a boost to tourist attractions, hoteliers, restaurants and shops across Britain, some of which are already expecting to benefit from higher numbers of Brits deciding to holiday in the UK, the trend toward the so-called "staycation" during tough economic times.
 Pakistan Tourism Development Corporation�s (PTDC) Motels in Northern Areas and Murree are earning good business from the start of the summer season of this year.</strongDue to rush of domestic tourists from across the country the Motels are remained book by tourists throughout the season.An official of PTDC Mukhtar Ali told APP that most of the people wanted to enjoy summer vacations with their families in popular destinations like Murree, Ayubia, Nathiagali, Swat Valley and other Northern areas.He said that PTDC was analyzing the trend of the tourism and at the end of the season a detail report would be issued for bringing further improvement in the sector.An official of PTDC Motel Swat Valley said that this year the numbers of tourists were increased and sometime they were not able to entertain every tourist in the season.He said that after long time in Swat Valley such a big number of tourists were witnessed to visiting the valley.He said that similar situation was being witnessed in PTDC motels of others areas.He said that Kalam was one of top visited place by the people in current season adding that Kalam had all ingredients to be termed as top tourist destination in the country.
 Tokyo stocks opened sharply higher Monday following another record on Wall Street after traders welcomed strong US jobs data.</strongThe benchmark Nikkei 225 index rallied 1.28 percent, or 207.84 points, to 16,462.29 in opening deals, while the broader Topix index of all first-section shares soared 1.23 percent, or 15.71 points, to 1,295.61.
 Iran said on Tuesday it would auction off property owned by billionaire Babak Zanjani, who was sentenced to death for corruption earlier this year.</strongA number of luxury villas and apartments, shops and other properties will be sold, reported the Mizan Online newspaper, which is close to the judiciary.Bidders must make their offers in sealed envelopes by August 20, it added.Zanjani, 41, was sentenced to death for fraud and other financial crimes in March after a lengthy trial during which he was accused of fraudulently pocketing $2.8 billion.He rose to prominence after the international community imposed sanctions on the Islamic republic�s banks as punishment over its nuclear programme.Zanjani boasted in media interviews of his wealth and skills in finding ways round banking restrictions to ensure Iran continued to receive money for international oil sales, saying he acted at all times with the support of then-president Mahmoud Ahmadinejad.He said he used a web of companies in countries including the United Arab Emirates, Turkey and Malaysia, selling millions of barrels of Iranian oil.Zanjani was arrested in December 2013, three months after current President Hassan Rouhani took office, having pledged to crack down on corruption.
 Oil and Gas Regulation Authority (OGRA) spokesman has categorically stated that Compressed Natural Gas (CNG) cannot be sold in litres in Sindh province.</strongThe spokesman for the regulatory body said, �Sale of CNG in litre in Sindh is illegal. Strict actions will be taken against those violating the orders.�He said OGRA has sent letter to CNG Associations regarding the issue. Different inspection teams have been formed to collect data of CNG pumping stations in Karachi.
 Tokyo stocks opened lower Wednesday as a stronger yen hit exporters and following a lacklustre lead from Wall Street.</strongThe benchmark Nikkei 225 index slipped 0.39 percent, or 65.89 points, to 16,699.08 in opening deals, while the broader Topix index of all first-section shares fell 0.42 percent, or 5.51 points, to 1,311.98.
 Huffington Post co-founder Arianna Huffington said on Thursday she would leave the company to focus on running her new venture, health and wellness startup Thrive Global.</strong"I thought HuffPost would be my last act. But I've decided to step down as HuffPost's editor-in-chief to run my new venture, Thrive Global," she tweeted.Thrive Global, which will offer services to companies to improve the well-being of their employees, recently closed a Series A funding round ahead of a launch in the fall.Verizon Communications Inc owns the Huffington Post through AOL, which bought the liberal American online news aggregator and blog for $315 million in February 2011.
 Switzerland's highest court has ordered Israel to pay Iran around $1.1 billion plus interest in a decades-old dispute over a secretive oil pipeline company predating the 1979 Islamic revolution which made the countries enemies.</strongThe Swiss Federal Tribunal rejected an appeal, citing lack of due process, against an arbitration ruling last year. The verdict, dated June 27, was available on the Lausanne court's website.It also awarded Iran 450,000 Swiss francs ($461,302) in court costs and lawyer fees.It remains unclear whether Israel will pay up given restrictions its "trading with the enemy" laws.Lawyers for each side had been locked in an arbitration over the Eilat-Ashkelon Pipeline Co (EAPC), a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil to the Mediterranean.For a decade, the pipeline successfully carried oil from the Red Sea for export to Europe. But since the Islamic revolution that brought the ayatollahs to power, Iran has been demanding its share of revenues and assets that remained in Israel.Since the partnership collapsed, EAPC has grown into a complex of energy assets, now mostly handling oil from former Soviet states.How much profit it has made or how much it is worth is unknown, largely because it is protected in a similar way to Israel's intelligence agencies, including by gag orders restricting coverage of its activities.But Tehran, setting aside its decades-old refusal to recognise Israel's right to exist, had determined to recoup its part of EAPC and pursued a complex arbitration case since 1994, first in France and then in Switzerland.In that time, the company has become the largest distributor of oil in Israel, with ambitions to become a major hub for energy trading in the Mediterranean. Israel maintains tight controls over EAPC.The company has its roots in the 1967 Middle East war, when Egypt blocked the Suez Canal, making it impossible for Iran to transport its oil by tanker to Europe. Under the EAPC deal, Iranian tankers would unload at the Red Sea port of Eilat and oil would flow 254 km (158 miles) northwest to Ashkelon.The countries formed a straw company in Halifax, Canada called APC Holdings, the primary shareholder in EAPC. By December 1969 the pipeline was ready to handle 60 million tons of crude a year, though it never reached that level.A decade later Iran's Shah was ousted and the partners in EAPC became enemies overnight.Lawyers for both countries have declined to comment.Case number: 4A_322/2015 ($1 = 0.9755 Swiss francs)
 It�s been an eventful few days for Mohammad Basheer Abdul Khadar, an Indian living in Dubai.</strongIn the space of a week, he survived a crash landing at Dubai airport then won $1 million in a lottery organised by the airport�s duty free operator, Gulf News reported.The 62-year-old was flying home from holidays with family in India when the Boeing 777 in which he was travelling caught fire on landing with 300 people on board.The accident on Wednesday shut down the Middle East�s busiest airport for several hours, forcing authorities to cancel hundreds of flights. All the passengers and crew escaped unharmed, but a firefighter died tackling the blaze.Just six days later, Khadar discovered that the lottery ticket he�d bought on the way to India was now worth $1 million.A fleet administrator with a Dubai car dealership, Khadar told Gulf News he habitually bought a lottery ticket on his way to visit family in the southern Indian state of Kerala.Ticket number 845 in the "Millenium Millionaire" draw at the airport�s Dubai Duty Free proved to be his winning shot."I live a simple life, and now that it�s my time to retire, I feel like God gave me a second life when I survived the plane crash, and blessed me with this money to follow all this up by doing good things," he told Gulf News.Khadar has lived in Dubai for 37 years and is married with two children, one of whom is paralysed after a fall early on in his childhood, reported Gulf News.Khadar told Gulf News he was planning to return to Kerala to retire and would use the money to help children in Kerala who need financial support.He said he earns around $2,200 (2,000 euros) a month, and would continue to work as long as he could."Nothing else can give you the satisfaction of your hard-earned money," he said.
 The newly introduced sales tax automation system would help generate additional billions of rupees for the national exchequer besides ensuring transparency discipline and proper monitoring of sales and purchase all across the country.</strongThe Sales Tax Real time Invoice Verification Strive System has been put in place to check leakages in the tax system and improve overall revenue collections, Member Sales Tax Dr. M. Irshad said while talking to APP here.He said that the purpose of the system was to check under invoicing as well as flying invoicing which has been causing damages of billions of rupees to the government in terms of tax evasion.He said that although the system has been put in place since the commencement of the current fiscal year however the actual impact could be evaluated after August 18 when the FBR receives returns from the sales taxpayers.�We expect that with the help of this system additional Rs40 to Rs 50 billion per annum revenue could be collected by checking and removing the loopholes and leakages,� he added.As per the system all the companies and individuals involved in selling of goods would be bound to submit electronically their invoices of previous month to the FBR by 10th of next month and later file their returns by 18th of that month.This practice would help FBR to recheck and re examines the tax collection when the invoices and actual files are submitted hence it would not only help check the bottlenecks in the tax collection system but would also make the overall system transparent.He said that since the system was in place since July 1 2016 so the sales taxpayers are bound to submit their invoices (annexes) by 10th of August and file their returns by August 18. The board would then make cross check to ensure that no under voicing and flying invoicing has been included for the purpose of tax evasion, he told APP.He was of the view that FBR had been facing such problems for a long time and it was after long consideration that this software has been developed to overcome the problems.He said that before launching the software the FBR had launched a pilot project and approached businessmen and chambers to inform them and create awareness among them regarding the system.The member ST FBR said that similar systems have been developed to check sales tax evasion by vendors and electricity distribution companies (Discos) all across the country.In future two more software are being developed to introduce same facility in the real estate business and motor registration system.He said that the FBR has taken many incentives to revamp the existing sales tax system to facilitate taxpayers and also improve revenue collection system by making it taxpayer friendly transparent and disciplined.Meanwhile the FBR and Auditor General for Pakistan Revenues (AGPR) have joined hands to check tax evasions of billions of rupees by monitoring sale and purchase activities of government vendors.The FBR in collaboration with AGPR has put a mechanism in place to monitor and access complete data of sale and purchase of government vendors through Monitoring and Invoice Verification System in order to check almost 80 percent of the sales tax evasion by the vendors, a senior official of the board told APP.As per the common practice the government vendors were filing only one fifth of the sales tax on Sales Tax Return Number (STRN) with Accountant General Office (AG) on their own while evading 80 percent government tax due to non availability of the STN verification facility at AGP.The purpose is to check the malpractice that has been inflicting huge loss to national exchequer in terms of tax evasion adding that with this system the cross verification of the STRN of all the vendors working with government could be verified.The FBR would also involve District Controller Accounts for properly accessing the data of the government vendors and contractors and ask them for filing of 80 percent sales tax account in order to recover huge amount evaded in terms of the sales tax.
 Oil prices rose sharply on Thursday after Saudi Arabia�s energy minister said producers may take action to help rebalance global oil markets.</strongThe remarks helped send prices up more than 4 percent in New York, where a barrel of West Texas Intermediate for September delivery closed up $1.78 at $43.49, after having lost more than a dollar the day before.In London, North Sea Brent for October delivery rose $1.99 to $46.04 a barrel on the Intercontinental Exchange.<br/>Matt Smith of ClipperData said the whipsawing of prices was "crazy."Smith said oil prices had dropped Wednesday after Saudi oil production figures showed the country�s output had risen last month to nearly 11 million barrels per day.But in remarks reported Thursday, Saudi oil minister Khalid al-Falih said an informal meeting of the Organization of the Petroleum Exporting Countries (OPEC) scheduled for next month would be the occasion for producers to discuss "any possible action."Saudi Arabia�s offer to take action was "completely at odds with this production data," Smith told AFP.<br/>James Williams of WTRG Economics said markets were in an "ongoing battle.""It�s between reality and possibilities, if you will," he told AFP. "The reality is the market continues to be oversupplied, with (a) really big increase in Saudi output last month."
 CNG stations across Sindh resumed supply after a three-day long strike.</strongAccording the Geo New, CNG from today will be sold in kilograms and not litres.The strike was called off after a round of successful talks on Friday between CNG Association and government.In a press conference held after the meeting representatives of the CNG Association told media that they had met Oil and Gas Regulatory Authority (OGRA) officials and the petroleum minister in Islamabad on August 11.During the meeting the CNG Association explained their issues with the government.It is stated that another meeting between stakeholders will be held in Karachi.Oil and Gas Regulation Authority (OGRA) spokesman, earlier, has categorically stated that Compressed Natural Gas (CNG) cannot be sold in litres in Sindh province.He said OGRA has sent letter to CNG Associations regarding the issue. Different inspection teams have been formed to collect data of CNG pumping stations in Karachi.
 Pakistani nation is ready to walk in the right directions with the help of country�s first indigenously developed digital mapping solution.</strongThe country�s largest tracking solutions provider TPL Trakker has launched TPL Maps, created using state-of-the-art technology, are inlayed with smart features that provide real-time intelligent routing, live traffic updates, turn-by-turn navigation options and smart search amongst a host of other features.Briefing about the digital maps, Ali Jameel, CEO, TPL Trakker Ltd. Stated, �TPL Maps have been developed indigenously and I firmly believe that these localized mapping solutions will provide a holistic navigational experience to people all over Pakistan,� and added �Globally, maps have taken the center stage for e-commerce, fintech, advertising and games.�He said today we have enabled Pakistan to leverage the power of Maps for businesses, consumers and the Government sector.�This is just the beginning of a new era for technology in the country and we are honored to be in the driving seat of this change,� he maintained.He said these maps also correctly showcase Kashmir and Gilgit-Baltistan as a part of Pakistan.Company�s Product Manager Asim Mushtaq and the Head of Maps Adeel Hashmi were also present at the occasion and briefed the media.Adeel Hashmi said that with over 22,000 hours of research, TPL Maps have been developed with data collected over the last 15 years by a dedicated team of over 100 IT &amp; GIS analysts who have worked diligently to make these maps a reality.�TPL Trakker aims to add further innovation and exciting features in upcoming releases,� he added.Asim Mushtaq said the TPL Maps boost of 1.5 million points-of-interest (POIs) � this is the highest number of POIs compared to any other mapping service in Pakistan.�With close to a million housing addresses, the largest collection of housing data ever recorded, TPL Maps have approximately 1,000 3D building models and approximately 300,000 kilometers of road network mapped across the country,� he concluded.TPL Maps app can be downloaded from Google Play Store and Apple App Store.
 Prime Minister Narendra Modi said India was becoming the world�s most attractive destination for foreign investors Monday, using his annual Independence Day speech to trumpet sweeping tax reforms designed to spur growth.</strongIn an address from Delhi�s 17th-century Red Fort, Modi sought to highlight his government�s achievements, including the recent passage of a landmark tax reform, that have contributed to India�s robust growth during a global slowdown."Be it the World Bank, the IMF (International Monetary Fund), World Economic Forum or even credit rating agencies, all the institutions of the world have appreciated India�s development," Modi said."Thanks to India�s continuous reforms and improvement in its laws and systems, a change in its approach -- the world is watching us," he added."We have improved India�s rank in ease of doing business rapidly. India has become the most favoured nation in the world for foreign direct investments. India has outpaced some of the biggest nations in the world with its growth rate, GDP (gross domestic product)."India�s GDP expanded 7.6 percent in 2015-16, making it the fastest-growing major economy in the world and outpacing its rival China�s growth rate.He went on to thank all political parties for clearing earlier this month the long-awaited Goods and Services Tax (GST) bill, which had been blocked by the opposition since he came to power in 2014.The bill will replace a patchwork of central and state levies on goods and services and marks India�s most significant economic reform in decades.Modi said his government had been successful in bringing down retail inflation from double digits to six percent, adding that he was working with the central bank to lower prices to four percent with a plus or minus-two percent band."I will continue to strive hard to ensure that this inflation doesn�t affect the food plate of the poor," he said.
 Tokyo�s benchmark index ended Monday morning trade unchanged, clawing back early losses driven by news that the Japanese economy stalled in the second quarter.</strongThe Nikkei 225 was flat, edging up 0.79 points, to 16,920.71 by the lunch break, while the broader Topix index of all first-section shares fell 0.17 percent, or 2.30 points, at 1,320.92.
 Pakistan shares closed at an all-time high on Tuesday, helped by gains in food and personal care, oil and cement stocks.</strongThe benchmark 100-share index of the Pakistan Stock Exchange closed 0.05 percent, or 19.65 points, higher at 40,050.17."Market witnessed more of a consolidation above the 40,000 level as the results season continues," said Fawad Khan, head of research at KASB Securities Pvt Ltd.Dewan Cement Ltd gained 0.16 percent, Lucky Cement Ltd rose 0.70 percent and Kohat Cement Co Ltd climbed 2.41 percent.Nestle Pakistan Ltd gained 0.87 percent, while Oil and Gas Development Co Ltd rose 0.45 percent.The rupee ended at 104.67/104.71 per dollar, compared with Monday�s close of 104.66/104.70.Overnight rates in the money market fell to 5.85 percent from Monday�s close of 5.90 percent.�
 Oil prices eased in Asia Tuesday as doubts emerged that Saudi Arabia and other major producers would reach an agreement to freeze output during a meeting next month.</strongMembers of the Organization of Petroleum Exporting Countries (OPEC) as well as non-members are scheduled to meet informally in Algeria in September, and Saudi Arabia�s oil minister Khalid al-Falih has hinted that producers could discuss actions to stabilise prices.His remarks last week sparked a price rally as they were widely seen as a suggestion that OPEC could revive talks on trimming high output levels.Prices continued their rise in New York Monday after Russian Energy Minister Alexander Novak said his country was working with Saudi Arabia to achieve oil market stability -- suggesting a possible production freeze in cooperation with OPEC.But analysts said there were doubts an accord would be reached."Some doubt about a possible deal to freeze output could have set in," IG Markets Singapore analyst Bernard Aw told AFP.Aw recalled that a previous attempt to freeze output at January 2016 levels failed in April after Saudi Arabia said it wanted all producers, including Iran, to be part of the agreement.Iran had refused, saying it needed to regain market share lost during years of Western economic sanctions over its nuclear ambitions. The sanctions were lifted in January."Investors are wondering: if Iran doesn�t participate in any such discussions, would Saudi Arabia still be amenable?" Aw said.At around 0700 GMT, US benchmark West Texas Intermediate for delivery in September was down 36 cents, or 0.79 percent, to $45.38 and Brent crude for October dropped 41 cents, or 0.85 percent, to $47.94.Nigerian Petroleum Minister of State Emmanuel Kachikwu in a Twitter post Monday also voiced doubts about output cuts by OPEC."On oil production cuts by OPEC, optimism on my part is quite sparse," he said. OPEC member Nigeria is Africa�s biggest oil exporter.Oil prices had entered a "bear" market at the start of the month on oversupply concerns, falling more than 20 percent and closing below $40 a barrel for the first time since April.Any agreement to curb production would help rebalance the crude oil market, where output has been running ahead of demand."The chances of a deal actually occurring at next month�s OPEC meeting are minimal," Angus Nicholson, a strategist at IG Markets, said in an email commentary."The Saudis are happy to commit to some sort of OPEC-wide supply freeze deal so long as Iran is party to it. And Iran refuses to agree to any deal that will inhibit them from lifting their oil output to pre-sanctions levels."
 From computers and cars to carpets and food, Britain�s decision to leave the EU is beginning to hit consumers in the pocket, having already spread uncertainty through the property market.</strongThe consequences of the shock vote have so far been mainly theoretical, but recent data suggest that the country�s tumbling currency is about to reach the High Street.The pound has lost 10 to 15 percent of its value against the euro and the dollar since the June 23 referendum, raising the price of goods primarily supplied by foreign companies such as automobiles, computers, clothing and some foods.Carmaker Peugeot told AFP that it had raised prices by an average of two percent since August 1 for models of its three flagship brands: Peugeot, Citroen and DS.Similarly, Dell computer group said it now had to factor the cost of components, denominated in dollars, into the price of its products in Britain.British group Headlam explained that the pound�s plunge had also increased the cost of its domestic floor coverings, imported mainly from Belgium and the Netherlands, by around six percent.All eyes are now turning to food and property, which have been relatively unscathed, but which many fear could see similar price fluctuations.Fierce competition among supermarkets desperate to maintain market share normally provides a bulwark against sharp inflation in food prices, but Brexit could rewrite the rules, said Fraser McKevitt, an analyst at Kantar group�s London office."We wouldn�t expect to see anything come through immediately, but if sterling does remain weak, we are likely to see impact on some prices," he told AFP."Around 40 percent of food in the UK is imported."strong>- Diluted purchasing power -</strongPrice comparison website mysupermarket.com has already reported an increase of one percent in the price of an average basket of supermarket goods in July, blaming "fears of Brexit" for the second consecutive month of price hikes.There are also fears over the UK housing market, but deflation is more of a concern than price rises in this key sector.Figures released Monday showed that residential rents for new lets in London had fallen for the first time in six years, according to the first study published on the issue since Britain voted to leave the European Union.While good news for tenants, it will leave landlords worse off.In addition, homeowners have seen the value of their property rise on average by just 2.1 percent in the year up tol August, a slowdown from the breakneck growth of recent years, according to property website Rightmove.Despite Brexit�s tremors being felt in the economy, official figures do not yet reveal wild price fluctuations, reporting only a slight rise in inflation of 0.6 percent in July.But experts expect stronger inflation growth over the next few months, boosted by the increased costs of imported goods and more volatile goods such as alcoholic drinks.The Bank of England has also deployed monetary weapons in an attempt to stop the economy sliding into recession, which are expected to increase the money supply and as a result boost inflation and further weaken the pound.Britons hoping for a pay rise to compensate for increased costs are likely to be disappointed, according to analysts."It looks probable that consumer purchasing power will be significantly diluted over the coming months as inflation trends higher and earnings growth is limited," warned Howard Archer from IHS Global Insight."Companies may well look to clamp down on workers� pay as they strive to save costs in a more difficult environment."Workers lucky enough to see a rise in their salary thanks to a fall in low-skilled immigration are unlikely to enjoy a marked increase in living standards due to the general slowdown of the post-Brexit economy, a report published by the Resolution Foundation said Tuesday.
 Tokyo stocks rose early Wednesday in thin trade, snapping two sessions of decline despite a negative lead from global financial markets.</strongOn Wall Street, all three major indices moved off record highs Tuesday after senior US central banker William Dudley suggested an interest rate hike could possibly come as early as next month.The greenback rose to 100.42 yen from 100.30 yen in New York, after briefly touching as low as 99.54 yen in overnight trading, falling under the 100 level for only the second time this year.But the dollar�s position remained largely unaffected by Dudley�s remarks. "Considering how much the yen has strengthened, Japanese shares are showing resilience," Chihiro Ohta, a senior strategist with SMBC Nikko Securities, told Bloomberg News."However, there aren�t any reasons to actively buy Japanese stocks right now."About 30 minutes after the opening bell, the benchmark Nikkei 225 index gained 0.48 percent, or 79.27 points, to 16,675.78, rebounding after ending two sessions in the red.The broader Topix index of all first-section shares advanced 0.39 percent, or 5.03 points, to 1,303.50.Trading was thin with many investors away for Japan�s week-long, though unofficial, Obon holiday.<br/>In early share trading, Toyota tacked on 1.60 percent to 5,969 yen, while Uniqlo operator Fast Retailing, a market heavyweight, jumped 1.36 percent to 37,000 yen.Among other gainers, energy explorer Inpex soared nearly four percent to 870.3 yen and refiner JX Holdings added about one percent to 381.2 yen.On Wall Street on Tuesday, the Dow ended down 0.5 percent, the broad-based S&amp;P 500 shed 0.6 percent and the tech-rich Nasdaq lost 0.7 percent.
 Anyone with internet access and a passion for seafood will soon be able to track commercial fishing trawlers all over the world, with a new tool that its developers hope will help end the overfishing that has decimated the world's fish stocks.</strongMillions of people depend on fish to survive, and fish will be vital to feeding the world's growing population that is predicted to reach 9.7 billion people by 2050, the United Nations says.But overfishing has diminished fish stocks, and illicit fishing is threatening people's access to food in many poor countries, according to the United Nations."We currently have around 450 million people globally who get their primary source of food from the ocean. This is 450 million meals a day under threat," said Lasse Gustavsson, executive director of Oceana in Europe on Wednesday."To solve the overfishing problem, including illegal fishing, we want to create transparency in the oceans," Gustavsson told the Thomson Reuters Foundation from Madrid.Oceana, an international conservation organisation, together with Google and SkyTruth, a nonprofit group that uses aerial and satellite images to track changes in the landscape, are due to launch the Global Fishing Tracker within weeks.The public, non-governmental organisations and local authorities will be able to use it to monitor coastlines and marine conservation areas, follow individual boats in near real-time and track what boats of a particular flag are doing.It will be especially useful for countries like Madagascar which have few resources to patrol and monitor their own coastlines, Oceana said."You can slice that piece of data in many different ways which we think will be helpful when it comes to law enforcement, increasing public understanding, and catching the kind of people who are doing stuff they shouldn't be doing," said Gustavsson.Some 30 percent of fish stocks were overfished in 2013, up from 10 percent in 1974. Most of the remaining stocks are fully fished, the U.N. Food and Agriculture Organization (FAO) said.At risk are hundreds of millions of people who depend on fisheries to earn a living, for food and nutrition, according to the FAO.The industry has vessels operating all over the world - some 15,000 European Union-registered fishing boats work off the coast of West Africa for example. Although legal, it is unsustainable, according to Oceana.Fish stocks will quickly bounce back if areas where fish spawn are protected, if fish stocks are managed scientifically, and if destructive and illegal fishing ended, Gustavsson said."If we do all the right things now, in 10 years we will have twice as much fish in the ocean globally," he said."We could increase the number of meals from 450 million a day today to maybe 1 billion."An international agreement to curb illegal, unregulated and unreported fishing came into force in June.The Agreement on Port State Measures to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing allows a country to block ships it suspects of illicit fishing, stopping their catches from entering local and international markets.It will be a key driver in the international community's fight against illicit fishing, FAO said.
 Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August.</strongPrices hit five-week highs this week, supported by hopes that a Russian-Saudi cooperation may reach a pact to freeze output, easing the stubborn supply glut dogging the market since late last year.OPEC members and their non-OPEC rivals are to meet informally in Algeria next month, and both Saudi and Russia have indicated they could discuss measures to stabilise prices.The market was boosted further on Wednesday after the weekly US inventories report showed significant declines in commercial crude stockpiles, indicating strong demand in the world�s top oil consumer.US crude stockpiles fell by 2.5 million barrels in the week to August 12, and gasoline stocks declined 2.7 million barrels, official data showed.Analysts however, said gains were being eroded by media reports that Saudi Arabia, OPEC�s top producer, is ramping up production to fresh record levels in August.Saudi output was at a record 10.67 million barrels per day in July."The upside is capped by Saudi�s signals of pumping more oil in August, which could give the Kingdom more leverage during talks in Algeria next month," said EY Services oil and gas head Sanjeev Gupta."The oil market will continue to seesaw amid scepticism over the coordinated efforts to stabilise output," he told AFP by email.At about 0500 GMT, US benchmark West Texas Intermediate for September delivery was down two cents to $46.77 while North Sea Brent was down 16 cents to $49.69. Both contracts closed higher Wednesday.Stephen Innes, senior trader at OANDA, said prices are on the slide "as optimism faded for a freeze production agreement... after Iran communicated little interest in the arrangement".A Saudi-led attempt to freeze output at January 2016 levels failed in April after rival oil producer Iran refused to be part of the deal, saying it needed to raise production dented by years of Western economic sanctions, which were lifted in January."What needs closer monitoring are the industry-sourced reports that Saudi Arabia could boost crude oil output in August to record levels," Innes said.IG Markets� Melbourne-based analyst Angus Nicholson said there were "concerns that Saudi Arabia may continue producing oil at their summer output levels rather than following their usual seasonal slowing of production".
 The petroleum prices are likely to be slashed by Rs4.35 per litre in the upcoming month of September.</strongAccording to sources, the price of petrol is likely to be reduced by Rs2.60 per litre.Likewise, the prices of High Speed Diesel (HSD) Rs3.46, High Octane Blending Component (HOBC) Rs4.35 and Light Diesel Oil (LDO) Rs2.80 per liters are likely to be reduced.The price of kerosene which is used for cooking in rural areas is likely to be dropped by Rs3 per litre.However, the Finance Ministry is considering increasing petroleum levy and General Sales Tax (GST) due to which the public will be deprived of relief.
 Gunmaker Kalashnikov, whose AK-47 assault rifle has armed Russian forces for 70 years and been the preferred weapon of insurgents across continents, has opened a store at Moscow's Sheremetyevo airport selling souvenirs including plastic model guns, the company said.</strongAn airport official said the shop, offering novelties including pens, umbrellas, bags, hats, camouflage gear and "I love AK" T-shirts, would be situated in the rail-link section of the airport complex. The model guns - automatic pistols and rifles - would very clearly be imitations and would pose no security problems, he added."Kalashnikov is one of the most popular brands that come to mind for most people in the world when they hear about Russia," Kalashnikov's head of marketing, Vladimir Dmitriev, said in a press release."So, we are pleased to provide the opportunity for everyone to take away from Russia a souvenir with our company brand."The AK-47, the first rifle the firm produced, has acquired an iconic status due to its low production costs and reliability in extreme conditions. It was introduced in 1948, armed the whole of the Soviet Union and eastern Europe in communist times and served largely pro-Soviet rebel forces across Africa and Asia.Produced also under licence beyond Russian frontiers, it remains one of the most popular assault rifles in the world.Sheremetyevo International Airport is Moscow's and Russia's largest airport by passenger traffic. In 2015, it handled more than 31 million passengers.
 U.S. Consul General Brian Heath visited a mango farm in Tando Hafiz Shah to inspect automated mango graders and processors provided by the U.S. Agency for International Development (USAID).</strongUSAID Deputy Mission Director Denise Herbol and Deputy Provincial Director Patrick Brady were also present.�The United States is helping Pakistan boost domestic and international sales of Pakistani agricultural products, including mangoes,� said Consul General Heath.�We want to make Pakistani mangoes as competitive as they can be in international markets,� he said.Pakistan is the fifth largest mango-producing country in the world, but exports less than 8 percent of its production.�Pakistani mango exports to the U.S. doubled last year, setting a record at 184 metric tons, and there is even more potential in this area,� said Mr. Heath.USAID, through its Agricultural Market Development (AMD) project, is increasing access to new markets for Pakistani mango farmers, while ensuring better prices through improving compliance with international grading standards and export protocols.USAID supplied top-of-the-line automated mango graders imported from one of the world�s leading manufacturers as well as training farmers how to use them to the best advantage.USAID launched the U.S.-Pakistan Partnership for Agricultural Market Development in February 2015 to increase production and sales of products, including meat, vegetables, mangoes and citrus.This partnership promotes cooperation among farmers, processers, exporters and buyers of agricultural products from Pakistan.
 Grain millers in Bangladesh are boosting their wheat purchases from Russia and Ukraine as cargoes from key exporter India fade due to a supply squeeze in that country.</strongBangladesh has booked about 800,000 tonnes of wheat from the Black Sea region for shipment between mid-July and October, up from around 550,000-600,000 tonnes in the same period last year, two trade sources said.Strong demand from South Asia's top wheat importer and other key buyers could help buoy benchmark futures, which have been recovering from a 10-year low of $3.99-1/4 a bushel hit earlier this month due to pressure from plentiful global production."India is out of the market, Bangladesh buyers are taking larger volumes of feed wheat as well as milling grade wheat from Russia and Ukraine," said one Singapore-based trader."It is all about prices, most Bangladeshi millers take the cheapest origin."Buyers paid $155-$168 a tonne, free on board, for Black Sea feed wheat with about 10.5-percent protein content, the sources said. They declined to be identified as they were not authorised to speak with media.For milling wheat with 11.5- to 12.5-percent protein, importers have paid $165-$180 a tonne FOB, they said.India has been exporting wheat to Bangladesh for the last few years, but its recent crops have been hit by a severe drought linked to the El Nino weather pattern and by unseasonable rains.BIN-BUSTINGRussia and Ukraine, two of the Black Sea region's leading wheat producers, have seen bin-busting grain production.Ukraine's 2016 grain harvest is likely to be around 3 million tonnes bigger than the year before at around 63 million tonnes, agriculture ministry official Leonid Sukhomlin said earlier this week.And Russia is facing a lack of grain storage as it remains on track to produce the largest cereal crop in post-Soviet history, said the head of Russia's Grain Union.But analysts warned against relying too heavily on shipments from the Black Sea."Worldwide, many countries are depending on Russia to supply much of their wheat and that is risky," said one agricultural commodities analyst. "There could be delays."Much of the Middle East and North Africa has heavily booked wheat shipments from the Black Sea region, taking advantage of lower prices.Traders said there is already a delay of 10-12 days for ships waiting to load wheat at Russian ports.Bangladesh has also booked about 200,000 tonnes of higher quality Canadian milling wheat, the sources said.
 New York has knocked off London as the world's premier city for foreign investment in commercial real estate due to fears the vote to leave the European Union would diminish the British capital's appeal as a global financial center.</strongData on cross-border property transactions indicate greater unease among investors prior to the referendum, which voters unexpectedly approved on June 23, than had been captured in the capital markets prior to the vote.Cross-border capital flows into London real estate fell 44 percent in this year's first six months from the same period in 2015, according to data from brokerage Jones Lang LaSalle Inc.Property investors feared Britain's exit from the EU would erode London's role as a premier financial center and reduce the value of their investments, the majority of which are office buildings.Norway's sovereign wealth fund, one of Britain's largest foreign investors, said on Wednesday it cut the value of its UK property portfolio by 5 percent because of the vote."It would be fair to say that London bore the brunt of Brexit fears," David Green-Morgan, director of global capital markets research for JLL in Chicago, said in an interview. "The big fear is that London will lose a lot of the financial service jobs that has made it such a global financial center."New York gained $10.3 billion in cross-border investments in the first six months of the year compared with the $6.9 billion that London took in, data from JLL show. In the same year-ago period, London garnered $12.4 billion while $11.3 billion flowed to New York, according to JLL.The 8.9 percent decline in cross-border investment New York experienced is in-line with the roughly 10 percent decline major cities experienced this year when compared to 2015, a stellar year in property investment around the world.Concerns the UK market was coming toward the end of the cycle amid signs pricing was reaching unsustainable levels only partially explains the drop-off in investment flows to Britain, the largest decline since the financial crisis.It is now obvious that people were becoming increasingly nervous about the Brexit vote, Green-Morgan said.Britain is viewed as more investor friendly than the United States because of beneficial tax arrangements. However, underlying property fundamentals - strong demand and not too much supply - must be in place to attract capital, as now is the case for the U.S. office and multifamily real estate sectors.The uncertainties created by Brexit has made investors more cautious about Britain and to a lesser extent about Europe, said Ken McCarthy, senior managing director, regional research director for Tri-State New York at Cushman &amp; Wakefield. Negative interest rates across the euro zone also are driving investment to the United States, he said."You're going to see people look to redeploy their capital elsewhere and the big one will be the U.S.. Most likely given that it is overseas capital, it will focus on gateway cities," McCarthy said, citing New York, Boston, Washington, Los Angeles and San Francisco.
 Pakistan shares closed lower on Monday as investors took a cautious stance after outflow of foreign portfolio investment in the last session, dealers said.</strongThe benchmark 100-share index of the Pakistan Stock Exchange closed down 0.10 percent at 39,457.95."Investors remained on the sidelines on outflow of foreign funds to the tune of $7.5 million in the last session," said Fawad Khan, head of research at KASB Securities Pvt Ltd.Cement stocks like D G Khan Cement Company Ltd, Maple Leaf Cement Factory Ltd and Lucky Cement Ltd fell during the day but recovered to close up 0.12 percent, 1.72 percent and 0.29 percent respectively.The rupee ended weaker at 104.79/104.83 against the dollar, compared with Friday�s close of 104.67/104.71.Overnight rate in the money market rose to 6.20 percent from Friday�s close of 6.10 percent. ($1 = 104.6500 Pakistani rupees)
 Tokyo stocks opened higher on Monday as the yen weakened further on speculation over central bank monetary policies and lifted investor sentiment.</strongThe Japanese currency fell against the dollar for a second day after US Fed Vice Chairman Stanley Fischer signalled in a speech on Sunday that a 2016 rate hike is still under consideration.Meanwhile, Bank of Japan Governor Haruhiko Kuroda said in an interview published Saturday in the Sankei newspaper that there is "sufficient chance" the bank will add to its massive easing at next month�s policy meeting.The benchmark Nikkei 225 index climbed 0.52 percent, or 85.41 points, to 16,631.23 in opening deals, while the broader Topix index of all first-section shares rose 0.54 percent, or 6.99 points, to 1,302.66.The dollar was trading at 100.59 yen in early Tokyo trade, up from 100.20 yen in New York.<br/>"We expect the US dollar to consolidate this week with a modest upside bias," Elias Haddad, a senior foreign-exchange strategist at Commonwealth Bank of Australia said, Bloomberg News reported."There is room for US interest rate expectations to adjust a bit higher this week," Haddad said.Investors are also awaiting a series of US and Japanese economic data due this week for further clues on central bank policies, analysts said."Investors will be focused on Fed Chair Janet Yellen�s speech at the Jackson Hole symposium (Friday), but we don�t expect her to provide any strong steer on the timing of the next rate hike," Capital Economics said in a note to clients.The annual gathering of US and foreign central bankers in the US state of Wyoming is closely watched for their comments on the state of the global economy and monetary policy.
 Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now, they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.</strongGold importing banks and big jewelers have also been hit by the growing entry of illicit gold, which avoids import duties and makes its way on to the so-called "grey market" where it is sold to end-users at a discount.Smuggled gold could account for more than a third of demand this year in India - the world's second-biggest buyer of the metal after China - potentially costing the government over $1 billion in lost revenue.The upsurge will lead to pressure for a reduction in the 10 percent import duty and a rethink on recently introduced levies on gold jewelry, which critics say are boosting the unofficial trade the government has been trying to curb."Gold refiners have less than a 1 percent margin. If smugglers offer 4 or 5 percent discounts, then we have no choice but to close our operations," James Jose, secretary of the Association of Gold Refineries and Mints told Reuters.All 32 refineries in the country have stopped buying dore - a semi-pure alloy made by miners - in the past few months and are relying on treating scrap gold until market conditions normalize, he said."Last fiscal year we refined 120 tonnes of gold. With local scrap supplies we can produce 20 tonnes of refined gold in the current year," said Rajesh Khosla, managing director of MMTC-PAMP India, the country's biggest refinery.strong>SMUGGLING GROWS</strongIndia raised the duty on gold imports to 10 percent three years ago, aiming to dampen buying and narrow the current account deficit in a country where gold is seen as a store of wealth for rich and poor alike.Smugglers evade the duty and offer cheap gold to buyers such as bullion dealers and small jewelers, who can pay up to $100 an ounce below official domestic prices, currently around $1,340 an ounce.Falling gold prices deterred the illicit trade last year but smuggling has surged in recent months amid rising prices and the reintroduction in March of a 1 percent local sales tax on gold jewelry.Smuggled gold into India could double to as much as 300 tonnes in 2016, said Bachhraj Bamalwa, director at All India Gems and Jewellery Trade Federation, although the World Gold Council (WGC) has put the figure at 160 tonnes. At 300 tonnes, the government would forego about $1.3 billion at current gold prices.The new sales tax has encouraged smaller jewelers in particular to buy on the grey market, said Somasundaram PR, managing director of the WGCs' Indian operations. The jewelry must be sold without receipts, but goes to customers looking to hide funds from the authorities.The finance ministry did not respond to requests for comment on gold smuggling.strong>BANKS HIT</strongThe legal trade is also facing headwinds from a 26 percent rise in the gold price this year which has discouraged overall buying and made smuggled gold available at deep discounts.India's official gold imports fell 57 percent in the first seven months of 2016 to 215 tonnes, and could fall more than 60 percent for the year to 350 tonnes to 400 tonnes, the lowest level in two decades, said Sunil Kashyap, managing director, Global Banking and Markets at Scotiabank.Banks, which until last year were the main source of gold supply, are losing their market share quickly."Since there were hefty discounts in the grey market, consumers shifted from banks to grey markets," Arindam Sarkar, senior vice president at Axis Bank, the biggest bullion importing bank in the country, told Reuters."So far in 2016 our bullion business is down nearly 75 percent," he said.Bigger, more reputable jewelers are also suffering."Small jewelers buy gold at 4 or 5 percent discount and then sell jewelry at 1 or 2 percent discount," said Aditya Pethe, a director at Waman Hari Pethe Jewellers in Mumbai."The business of big jewelers like us is getting affected.But jewelers buying from the grey market say they have little choice."I wasn't buying gold from grey market for months, but others were buying and doing business," said a Mumbai-based jeweler, who declined to be identified."In the last two months I've also started buying as I have to survive. I have to pay employees."
 Pakistan is taking another step towards becoming a key buyer of liquefied natural gas (LNG), signing a deal to purchase a Floating Storage and Regasification Unit (FSRU) for its second import terminal.</strongSingapore's BW Group said in a statement on Monday that it would deliver the FSRU to Pakistan GasPort Limited (PGPL) in the fourth quarter, as well as providing the terminal at Port Qasim, Karachi with LNG regasification services in a 15-year agreement.The South Asian country has been earmarked as an up-and-coming demand outlet for the oversupplied LNG market. Along with Egypt and Jordan, Pakistan was a newcomer to the LNG import market in 2015, helping drive up demand and absorb growing world supplies from a wave of new projects.The new import terminal will be able to receive 600 million cubic feet of natural gas per day and is expected to be commissioned for operations by mid-2017.The terminal will reduce Pakistan's gas deficit by 30 percent and ensure fuel for 3,600 megawatts of new power generation plants being constructed in the country, said PGPL chairman Iqbal Ahmed.Pakistan started up the 3.5 million tonnes per year Engro Elengy LNG terminal, the country's first LNG import facility, in Port Qasim last March. Pakistan shipped in a total of 1.02 million tonnes of LNG in 2015, and has imported 1.78 millions tonnes in the first seven months of this year."We are seeing weaknesses more in the North Asian market, and (South) Korea ... and a lot of the strong (demand) growth in where you might expect," said Neil Beveridge, a Hong Kong-based analyst at AB Bernstein, referring to emerging economies such as Pakistan.Qatar, which signed two term supply contracts with Pakistan this year, is the country's largest LNG supplier.
 Militant attacks, strikes and floods kept foreign tourists away from the French capital in the first half of the year and cost the Paris region tourism industry some 750 million euros ($849.38 million) in lost revenue, officials said on Tuesday.</strong"It's time to realise that the tourism sector is going through an industrial disaster. This is no longer the time for communication campaigns but to set up a relief plan," Frederic Valletoux, head of the Paris region tourist board said in a statement on Tuesday.Valletoux said massive investments were needed to protect jobs in the sector and he urged Foreign Minister Jean-Marc Ayrault to quickly meet with local tourism officials.About 500,000 people in Ile-de-France have jobs linked to tourism, making it the biggest industry in the regionFrance, which is seeking to revive its economy, depends heavily on tourism, which generates over 7 percent of national gross domestic product and over 13 percent of that of the Ile-de-France region, which includes Paris, the world's most visited city.France's tourism industry has suffered since Islamic State gunmen killed 130 people in an attack in Paris last year. It was dealt further blows in July when a gunman drove a truck into crowds celebrating Bastille Day on July 14 in the Riviera city of Nice. Two weeks later, two men killed a priest in a small town in Normandy. Strikes against a controversial labour reform and floods in June also deterred tourists.Nightly hotel stays were down 8.5 percent in the Paris-Ile de-France region in the first half, with an 11.5 percent decline for foreign tourists and a 4.8 percent drop for French tourists.Japanese visitors were down 46.2 percent in the first half compared with the same period in 2015, while Russians were down 35 percent, Chinese down 19.6 percent, and Americans down 5.7 percent, the Paris region tourist board statement said.France is the most-visited country in the world, with almost 85 million foreigners last year, including 16 million in Paris.Weak activity in France contributed to a fall in first-half operating profit for French group AccorHotels. Air France-KLM has said it expects its unit revenues to decline in July and August, partly due to the situation in France. ($1 = 0.8830 euros)
 Chinese state-backed firms are frontrunners to buy a $1.5 billion controlling stake in Pakistani utility K-Electric, sources said, as they bet the benefits of a Beijing-led economic corridor will trump the risks of investing in Pakistan.</strongState-backed Shanghai Electric Power (600021.SS) and China Southern Power Grid are among Chinese firms leading the pack of about half a dozen bidders in K-Electric KELA.KA, one person familiar with the matter said.Shanghai-headquartered Golden Concord Holdings is also among the bidders, as are some local Pakistani and other companies, according to people who know about the process.Chinese companies' interest comes after China last year announced energy and infrastructure projects worth $46 billion in the South Asian nation, with a view to opening a trade corridor linking western China with the Arabian Sea."The China-Pakistan Economic Corridor (CPEC) is the main driver, with a lot of Chinese funding flowing into Pakistan," said one person aware of the K-Electric deal.That demand underpins President Xi Jinping's ambitious "One Belt, One Road" initiative, under which Beijing is seeking to open new trade routes and markets as the domestic economy slows.Under the program, Chinese companies invested nearly $15 billion in participating countries last year, up one fifth from 2014.If successful, the K-Electric deal would be the biggest M&amp;A agreement in Pakistan in a decade. Large tracts of Pakistan's economy remain nationalized or held by private businessmen with little interest in selling to new investors.Chinese firms are eyeing new Pakistan power projects, roads and some engineering contracts but investing in a large private company that deals directly with consumers would be a first, a senior Karachi-based financial adviser said.strong>NO GUARANTEE</strongDubai-based private equity firm Abraaj Group, whose 66-percent stake in K-Electric has a market value of about $1.5 billion, is seeking final bids for its stake by the end of August.Sources cautioned that although talks between the parties are advanced, there is no certainty of a deal being clinched.The Pakistani government owns about 24 percent, but a spokesman for the water and power ministry said it was not in talks to sell.CPEC envisages the construction of roads, pipelines and power plants across Pakistan that run south to Gwadar port and should mean more business for distribution companies like K-Electric that sell the electricity to users.China and Pakistan call each other "all-weather friends" and their ties have been underpinned by long-standing wariness of their common neighbor, India, and a desire to hedge against U.S. influence in the region.Islamabad wants Chinese funding to reinvigorate an economy hurt by militant violence and weak productivity, to provide new jobs and to ease chronic power shortages.For China, markets like Pakistan and Malaysia are opening up new frontiers, just as it faces hurdles in countries including Australia.strong>"CHINESE ARE COMING"</strong"We are getting a lot more enquiries from Chinese investors about Pakistan in the last couple of years," said Muhammad Sohail, CEO at Karachi-based brokerage Topline Securities."Before it was always U.S. and Europe. The Chinese are coming," Sohail added.Still, foreign investment in Pakistan remains relatively muted as it struggles to shake off a reputation for violence, corruption and instability, and despite the $250 billion economy growing at its fastest pace in eight years.Inbound M&amp;A into Pakistan has risen more than six times in the past five years, totaling $516 million so far this year, according to Thomson Reuters data.K-Electric, Pakistan's biggest electricity company, supplies power to over 2.2 million customers in and around Karachi, the country's biggest and wealthiest city.The utility has undergone a turnaround since Abraaj bought it; K-Electric has cut down on electricity theft and reduced outages."Abraaj has done a good job but for a newcomer to get involved in a city like Karachi is not easy," said the Karachi-based adviser, referring to a city where power theft, violence and political turmoil have scared investors away."The Chinese are looking at a lot of things but they are also very cautious."Sources said some Pakistani firms were also bidding, but it was not clear how keen they were, and they would likely find it tough to match the Chinese in an auction which could go as high as $2 billion.China Southern Power Grid declined comment, while Shanghai Electric Power confirmed it was bidding but gave no details.A K-Electric spokeswoman said the company had not been notified about any transaction or acquisition. "We dismiss these rumors as speculative," she said. A spokeswoman at Abraaj declined comment.Though Pakistan is courting Chinese investment, some deals have faced roadblocks.In 2005, an Etisalat-led consortium agreed to pay $2.6 billion for 26 percent of Pakistan Telecommunication Co, but the Abu Dhabi-listed operator has withheld some money due to differences with the government on outstanding ownership of properties.
 Chinese state-backed firms are frontrunners to buy a $1.5 billion controlling stake in Pakistani utility K-Electric, sources said.</strongState-backed Shanghai Electric Power and China Southern Power Grid are among Chinese firms leading the pack of<br/>about half a dozen bidders in K-Electric, one person familiar with the matter said.Shanghai-headquartered Golden Concord Holdings is also among the bidders, as are some local Pakistani and other companies, according to people who know about the process.Chinese companies� interest comes after China last year announced energy and infrastructure projects worth $46 billion in the South Asian nation, with a view to opening a trade corridor linking western China with the Arabian Sea."The China-Pakistan Economic Corridor (CPEC) is the main driver, with a lot of Chinese funding flowing into Pakistan,"<br/>said one person aware of the K-Electric deal.That demand underpins President Xi Jinping�s ambitious "One Belt, One Road" initiative, under which Beijing is seeking to open new trade routes and markets as the domestic economy slows.Under the programme, Chinese companies invested nearly $15 billion in participating countries last year, up one fifth from 2014.If successful, the K-Electric deal would be the biggest M&amp;A agreement in Pakistan in a decade. Chinese firms are eyeing new Pakistan power projects, roads and some engineering contracts but investing in a large private company that deals directly with consumers would be a first, a senior Karachi-based financial adviser said.strong>NO GUARANTEE</strongDubai-based private equity firm Abraaj Group, whose 66-percent stake in K-Electric has a market value of about $1.5<br/>billion, is seeking final bids for its stake by the end of August.Sources cautioned that although talks between the parties are advanced, there is no certainty of a deal being clinched.<br/>The Pakistani government owns about 24 percent, but a spokesman for the water and power ministry said it was not in<br/>talks to sell.CPEC envisages the construction of roads, pipelines and power plants across Pakistan that run south to Gwadar port and should mean more business for distribution companies like K-Electric that sell the electricity to users.China and Pakistan call each other "all-weather friends" and� their ties have been underpinned by long-standing wariness of their common neighbour, India, and a desire to hedge against U.S.influence in the region.Islamabad wants Chinese funding to reinvigorate an economy hurt by militant violence and weak productivity, to provide new jobs and to ease chronic power shortages.For China, markets like Pakistan and Malaysia are opening up new frontiers, just as it faces hurdles in countries including Australia.strong>"CHINESE ARE COMING"</strong"We are getting a lot more enquiries from Chinese investors about Pakistan in the last couple of years," said Muhammad<br/>Sohail, CEO at Karachi-based brokerage Topline Securities."Before it was always U.S. and Europe. The Chinese are coming," Sohail added. Still, foreign investment in Pakistan remains relatively muted as it struggles to shake off a reputation for violence, corruption and instability, and despite the $250 billion economy growing at its fastest pace in eight years.Inbound M&amp;A into Pakistan has risen more than six times in the past five years, totalling $516 million so far this year,<br/>according to Thomson Reuters data. K-Electric, Pakistan�s biggest electricity company, supplies power to over 2.2 million customers in and around Karachi, the country�s biggest and wealthiest city.The utility has undergone a turnaround since Abraaj bought it; K-Electric has cut down on electricity theft and reduced<br/>outages."Abraaj has done a good job but for a newcomer to get involved in a city like Karachi is not easy," said the<br/>Karachi-based adviser, referring to a city where power theft, violence and political turmoil have scared investors away."The Chinese are looking at a lot of things but they are also very cautious. "Sources said some Pakistani firms were also bidding, but it was not clear how keen they were, and they would likely find it tough to match the Chinese in an auction which could go as high as $2 billion.China Southern Power Grid declined comment, while Shanghai Electric Power confirmed it was bidding but gave no details. A K-Electric spokeswoman said the company had not been notified about any transaction or acquisition. "We dismiss these rumours as speculative," she said.A spokeswoman at Abraaj declined comment. Though Pakistan is courting Chinese investment, some deals<br/>have faced roadblocks.�
 The mobile phone companies have added 2.2 million new mobile broadband users to their networks during last month as total subscribers� base of 3G and 4G reached 32 million mark till July 2016.</strongMobile phone companies grew their 3G, 4G users by almost eight percent and according to Pakistan Telecommunication Authority (PTA). Mobilink alone added 1.2 million new 3G users on its network while Zong added another half million 3G users during the month.Total number of 3G users by end of July 2016 stood at 30.62 million while 4G users reached 1.16 million by the time.Mobile phone users in Pakistan from all operators touched 133.28 million mark by the end of July 2016 marginally up from 133.24 million a month ahead.Mobilink and Zong added almost 709,000 users during the reported month while Telenor added 77,000 users during the month.Total additions in mobile phone subscriptions during the month netted under 0.1 million.
 A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S. big box retailers highlights a stiff reality facing the high-end fiber market: there isn't much Egyptian cotton any more.</strongThe shortage of cotton from Egypt, which commands a premium due to its superior quality, creates an incentive to blend it with other types of cotton without disclosing it or to counterfeit the label altogether, cotton traders said, exacerbating a problem that has plagued the industry for years.Welspun India has lost 42 percent of its market value in the three days since Target Corp said it would sever ties with the textile manufacturer, one of the world's largest, accusing it of substituting cheaper, non-Egyptian cotton into sheets and pillowcases.Egyptian cotton is prized because much of it is "long staple" or "extra long staple," meaning the length of the cotton fibers is longer, resulting in a finer, lighter more durable fabric and longer-lasting, higher-end clothing.While other countries including the United States and Australia produce larger quantities of high-end cotton than Egypt, cotton from the North African country has retained its prestige because of a long history growing the crop.But Egypt's cotton output has been declining for the past decade after farmers failed to adapt to shifting consumer demand for mass-produced items made from short- or medium-staple fiber, according to the U.S. Department of Agriculture (USDA).The decline has become a full-fledged crisis in recent years after the government removed cash subsidies, and many farmers replaced cotton acreage with rice, the USDA said.Egypt will produce just 160,000 480-lb bales of cotton in 2016/17, down from 1.4 million bales as recently as 2004/05, accounting for less than 0.2 percent of expected global output.This means some products marketed as containing Egyptian cotton almost certainly do not, or are blended with other types of cotton without proper disclosure, said Jordan Lea, chairman and co-owner of cotton merchant Eastern Trading in Greenville, South Carolina."If you look at the volume of Egyptian goods that are for sale, and you look at the volume of Egyptian cotton that's produced, it would lead one to scratch one's head," Lea said.strong>A GOLD SEAL?</strongLong and extra long staple cotton is rare - it makes up just 2.5 percent of annual world cotton production of more than 100 million bales, according to the USDA - and trades at a substantial premium.U.S. extra long staple cotton, or "pima," trades for 152.25 cents per lb, according to Thomson Reuters Eikon data, a 125 percent premium over cotton prices on ICE Futures U.S., a contract that accepts cotton of a "strict low middling staple length".Ron Lawson, a cotton industry veteran and broker with LOGIC Advisors in Sonoma, California, said he had "no idea" what Egyptian cotton prices were, which he said showed how much of a "novelty" item the fiber was.Improper labeling of cotton products including clothing and bedding is a violation of the U.S. Textile Act and Rules, which are enforced by the Federal Trade Commission (FTC).An FTC spokesman declined to comment on whether the agency was aware of Target's allegations or had started an investigation.Egypt's cotton association appears to be aware of widespread counterfeiting. In April, its executive director told trade publication Home and Textiles Today that it had tested retail products labeled 'Egyptian cotton' and found that 90 percent contained no Egyptian cotton at all.The Cotton Egypt Association lists Welspun as one of just three companies permitted to label its products with the association's "Gold Seal," which was launched earlier this year and is meant to ensure authenticity.Mukesh Saviani, a Welspun executive, told the trade publication in February that the seal was "an assurance to retailers that they will not get into any compliance issues."The scandal could leave big box U.S. retailers wary of dealing with products labeled Egyptian cotton, potentially providing a boon to growers of U.S. Pima cotton in places like California and Arizona."The Supima boys are doing backflips and pirouettes on their desks right now," Lawson said, referring to an association that provides a trademark indicating cotton products come from 100 percent American Pima cotton.
 The Pakistani Ambassador to the United Nations, Dr. Maleeha Lodhi, Friday rang the closing bell at the NASDAQ Stock Exchange in New York to signal the ceremonial end of trading for the day on Wall Street, saying Pakistan�s economy is on the upswing as it pursues the �most investor-friendly� policies in the region.</strong�Pakistan is on the rise,� she told traders and investors gathered at the impressive ceremony held in the Pakistan flag-bedecked NASDAQ�s office building in New York�s Time Square to mark 70th year of the country� establishment.The event was carried live on a giant screen overlooking the crowded iconic square as well as by major American television networks on their economic and financial segments.�I am glad that NASDAQ today has gone green with the Pakistani flag,� Ambassador Lodhi, herself dressed in green, said before pressing the button to set off the bell.�We are open to business, and we are open to foreign investment,� she said, adding she was honoured to represent Pakistan at NASDAQ on the Independence Day celebrations from the platform of the Pakistan-American Business Association (PABA).�Our economy has achieved an impressive turnaround and is poised for rapid growth,� the Pakistani envoy said. Economic stability had been achieved by an enabling environment of democratic consolidation and security gains. Pakistan�s foreign exchange reserves were up, inflation down and overseas remittances at record high.�Our demographic profile of a youthful population gives Pakistan the ability to make a quantum leap in its development,� Ambassador Lodhi said.�We are embarked firmly on the path of realizing our vision to turn Pakistan into a regional hub, connecting the different regions it straddles by providing trade, energy and communications corridors.�She also read out a special message from Prime Minister Muhammad Nawaz Sharif, saying,� Pakistan has bright future powered by its hard-working people and a resilient democracy.�Earlier, Andew Hall, a top NASDAQ official, introduced Ambassador Lodhi and congratulated the government and people of Pakistan on the Independence Day.
 Australian defence officials warned French naval contractor DCNS to beef up security in Australia, where it is preparing to build a A$50 billion ($38.13 billion) fleet of submarines, in the wake of a massive data leak, a government spokesman said on Friday.</strongDCNS was left reeling after more than 22,000 pages outlining details relating to submarines it is building for India were published in The Australian newspaper earlier this week, sparking concerns about its ability to protect sensitive data.A senior Australian defence official, acting on orders from Defence Industry Minister Christopher Pyne, warned DCNS that the government was deeply concerned by the implications of the leak, a spokesman for the minister told Reuters.DCNS is locked in exclusive negotiations with Australia to build a fleet of 12 next-generation submarines after seeing off its rivals, Germany's Thyssenkrup AG and a Japanese government-backed consortium of Mitsubishi Heavy Industries and Kawasaki Heavy Industries.DCNS said earlier this week that the leak, which covered details of the Scorpene-class model and not the vessel currently being designed for the Australian fleet, bore the hallmarks of "economic warfare" carried out by frustrated competitors.TKMS Australia, the German shipbuilder's local subsidiary, declined to respond to the accusation. Mitsubishi Heavy Industry also said that it had no comment.A senior industry source who was involved in the Australian submarine bidding called the allegation an "extraordinary" attempt to deflect attention from DCNS' security shortcomings."Clearly there's been a massive leak. And for the French to seek to blame either the Japanese or the Germans under some banner of 'economic warfare' is hysterical," he told Reuters.The French victory in one of the world's most valuable defence contracts was a major blow to Japanese Prime Minister Shinzo Abe's push to develop defence export capabilities as part of a more muscular security agenda.Australian Defence Minister Marise Payne visited Tokyo this week to meet with her Japanese counterpart, Tomomi Inada, in the first such visit since the contract was awarded.DCNS and TKMS are currently locked in another competition for a lucrative contract to replace Norway's fleet of aging Ula-class submarines. The European shipbuilders, the world's biggest suppliers of conventional submarines, regularly lock horns.($1 = 1.3115 Australian dollars)
 Reflecting upon Pakistan�s history, we come across some national accomplishments that not only etch out the existence of Pakistan on the global front but also give us a reason to stand tall alongside other countries of the world. Be it the 1992 cricket World Cup, when Pakistani Cornered Tigers outclassed England on the Melbourne Cricket Ground, or that moment of sheer pride, as the likes of Lionel Messi and Christiano Ronaldo dribbled around �Made in Pakistan� footballs at one of the most watched sporting events - The FIFA World Cup.The Pakistani people were again beaming with joy when Ali Moin Nawazish set a world record by attaining 21 As in the A levels, Cambridge International Examination, adding to the vast gallery of national accolades. Keeping with this tradition of bringing back laurels and honouring the Nation, Pakistani chicken and frozen food company, K&amp;N�s, provided us with yet another opportunity to celebrate, by winning medals at IFFA International Quality Competition, in Frankfurt, Germany.The IFFA International Quality Competition for sausages and cold cuts takes place during IFFA trade fair in Frankfurt, Germany, which is the world�s leading trade fair for the global meat industry. This IFFA competition is organised every 3 years and brands from around the world submit their products for valuation. Judging is conducted by independent and trained expert judges on the following criteria:-External product finishing, and condition of the package/containe-Product appearance, colour and composition-Product consistency/texture-Product aroma and tasteK&amp;N�s not only won 5 gold medals, 1 silver and 1 bronze for all 7 products that were entered into the competition against entries from European Union countries, North America, South American and Asian countries, but also walked away with a special trophy for winning 5 gold medals.The true extent of this achievement is grasped when one realizes K&amp;N�s was honoured by the masters of sausage making themselves � the Germans. When we witness that K&amp;N�s stays true to its commitment to food safety, by bringing us world-class chicken products, for which it has received international recognition, the sense of reassurance the brand extends to provide world-class frozen chicken products is further strengthened.
 The dollar rose Friday against the euro, the yen and the British pound following remarks from the US central bank favoring a near-term increase in interest rates.</strongIn a much-anticipated address, US Federal Reserve Chair Janet Yellen said the case had "strengthened" in recent months for a rate increase but did not clearly say when this could occur.Toward 2100 GMT, the euro was at $1.1195, down from $1.1281 on Thursday while the dollar rose to 101.77 yen, up from 100.55.The pound fell to $1.3135 from $1.3187. Christopher Vecchio, a currency analyst at DailyFX, said Yellen�s speech had given the dollar trade a needed shot in the arm on currency markets."The US Dollar Index, mired in an apathetic lull the past several days, is in the midst of posting its widest daily trading range of the week on the back of Chair Yellen�s commentary," said Vecchio.US central bankers are due to meet again three times between now and the end of the year.
 South Africa�s wealthy Gupta family with influential ties to President Jacob Zuma said Saturday they plan to sell all their business interests in the country by the end of the year.</strongThe family, who had immigrated from India in the 1990s and owns a business empire with interests ranging from media to mining, said it was already in talks with "several international prospective buyers.""As a family, we now believe that the time is right for us to exit our shareholding of the South African businesses which we believe will benefit our existing employees, and lead to further growth in the businesses," said a statement issued by their holding company Oakbay Investments.The Gupta family companies led by brothers Atul, Ajay and Rajesh, have over the years been embroiled in scandals, including accusations of having undue influence over Zuma.Some members of Zuma�s family were once employed in Gupta companies, including his son Duduzane who used to be their business partner.In April the Guptas stepped down from all executive and non-executive positions in Oakbay Investments, following intense scrutiny over their dealings with the government.The move was also reportedly linked to the closure of the firm�s accounts by two major banks.The extent of the Guptas� political influence came to light early this year when a deputy minister revealed that the family had offered him the position of finance minister before Zuma suddenly removed then minister Nhlanhla Nene in December 2015.Some Gupta-owned firms include a 24-hour television news channel, a newspaper, gold and uranium mining firms and a computer business.
 Gold slid to a near five-week low on Monday after comments from top Federal Reserve officials fuelled speculation that U.S. interest rates would rise sooner rather than later, boosting the dollar.</strongSpeaking at a meeting of leading central bankers in Jackson Hole, Wyoming, Fed chair Janet Yellen said on Friday that an improvement in the economy and the labour market in recent months had boosted the case for hiking rates.The CME Group's FedWatch tool showed the market pricing in more than a 30 percent chance of a hike in September, up from 18 percent before Yellen and her deputy Stanley Fischer spoke.Spot gold touched its lowest since July 26 at $1,314.70, and was down 0.1 percent at $1,319.81 an ounce at 1135 GMT. U.S. gold futures for December delivery were down $2.80 an ounce at $1,323.10.Gold whipsawed on Friday, rising as much as 1.5 percent in the immediate wake of Yellen's comments, before slipping back to end the day marginally lower."The market was surprised (by Yellen) -- that is why it went all the way up first, before losing it all," Afshin Nabavi, head of trading at MKS in Switzerland, said. "The demand for physical (gold) is still very poor, so it feels like we may need to test lower levels first before a surge in price."Gold's volatility tracked fluctuations in the dollar. The U.S. currency gave up gains soon after Yellen spoke as she gave no indication that a rate hike was imminent, but rebounded as traders reassessed her words, and after Fed Vice Chair Fischer said the Fed was still on track to lift rates this year.Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced."The pressure on gold will likely increase as we go into September, as participants are now more willing to bet on a rate hike given what they have gleaned from top Fed officials on Friday," INTL FCStone said in a note.Hedge funds and money managers increased their net long position in COMEX gold contracts in the week to Aug. 23, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.Silver was little changed at $18.61 an ounce, having earlier touched its lowest in more than eight weeks at $18.36 an ounce.Platinum, the biggest faller among the major precious metals last week, was up 1 percent at $1,077.60 an ounce, while palladium was down 0.2 percent at $684.38 an ounce.
 China is hoping to cement its standing as a global power when it hosts leaders from the world's biggest economies this weekend, but suspects the West and its allies will try to deny Beijing what it sees as its rightful place on the international stage.</strongEnsuring that this does not happen will be one of President Xi Jinping's priorities, and a key mark of how successful China will judge the G20 summit to be.Beijing wants to use the Sept 4-5 meeting in the tourist hub of Hangzhou to lay out a broad strategy for global growth, but talks are likely to be overshadowed by arguments over everything from territorial disputes to protectionism, diplomats said."From where China sits, it looks like the Americans are trying to encircle them," said a senior Western envoy, describing conversations with Chinese officials ahead of G20 as being dominated by the South China Sea row and an advanced U.S. anti-missile system to be deployed in South Korea.In recent months, China has been incensed by a ruling against its claims in the South China Sea by an international court, a case initiated by Manila but blamed by Beijing on Washington.While China wants to make sure its highest profile event of the year goes off successfully, Xi will be under pressure at home to ensure he is strong in the face of challenges to his authority on issues like the South China Sea, going by reports in state media.China has already made clear it does not want such matters overshadowing the meeting, which will be attended by U.S. President Barack Obama, Japanese Prime Minister Shinzo Abe, and other world leaders.State media has given great play to the idea that G20 is for China to show leadership in shaping global governance rules and forging ahead with sustainable global growth, with the official People's Daily saying this could be one of the G20's most fruitful ever get-togethers."Let's make cooperation ever higher," it wrote in a commentary last week.But the state-run Study Times wrote in mid-August that Western countries were trying to deliberately exclude a rising China and deny it a proper voice on the world stage with schemes like the U.S.-led Trans-Pacific Partnership."Trying to get back their right to global governance, they are forging a new 'sacred alliance', striving to establish new rules," the influential paper, published twice a week by the Central Party School, wrote in a G20 commentary."These new rules will exclude China."strong>ANGERED BY BRITAIN, AUSTRALIA</strongOverseas, China has been angered by questions raised by Britain and Australia over strategic Chinese investments in their countries, saying it smacks of protectionism and paranoia.Australia has blocked the A$10 billion ($7.7 billion) sale of the country's biggest energy grid to Chinese bidders, while Britain has delayed a $24 billion Chinese-invested nuclear project.But Western officials have their own concerns about access for their companies in China and are increasingly not afraid to talk about it.Joerg Wuttke, the President of the European Union Chamber of Commerce in China, said there has been a change in tone as European officials having been expressing more dissatisfaction with China's overcapacity problems and a lack of reciprocal market access for European companies. "It has reached the point where people are not afraid to speak up any more. They feel like they have to be tougher in front of their own constituencies," Wuttke told Reuters.A European official involved in trade issues with China expressed exasperation at China's attitude on protectionism."The Chinese would shut you down at once if you said you wanted to buy one of their grids. You wouldn't get to the end of the sentence," the official added.None of this will make for plain sailing at G20."China is angry with almost everyone at the moment," said a second Beijing-based Western diplomat familiar with the summit.To be sure, China does want G20 to go smoothly, said a third Western diplomat."It's very important from the stance of national pride," said the diplomat, pointing out it was not uncommon for G20s to be hijacked by issues other than economics."It's a minefield for China."strong>JAPAN WORRIES</strongThen there is Japan, a country with which China has been embroiled in disputes for much of the last decade over their wartime past and a spat over a group of uninhabited islands in the East China Sea.Last week, China's top diplomat called on Japan to be "constructive" at G20, with the deeper fear in Beijing that Japan is angling to become involved in the South China Sea dispute as well, at the behest of its ally the United States.Wang Youming, the head of the developing countries program at the Foreign Ministry-backed China Institute of International Studies, wrote in the widely-read Chinese tabloid the Global Times that the closer G20 got, the more Japan was trying to cause trouble."Japan is getting entangled in the South and East China Sea issues, cozying up to the Philippines, and urging China to respect the result of the so-called 'arbitration' case," Wang wrote."Japan is up to its old tricks, and it's hard not to think they are trying to mess things up."
 Tokyo stocks opened higher on Monday after the yen weakened on Federal Reserve chief Janet Yellen�s suggestion last week that US interest rates could rise in the near term, boosting exporters.</strongThe benchmark Nikkei 225 index soared 1.65 percent, or 270.35 points, to 16,631.06 in opening deals, while the broader Topix index of all first-section shares also rose 1.65 percent, or 21.27 points, to 1,309.17.
 Sindh Chief Minister Syed Murad Ali Shah has said that World Bank has played an important role in the development of education, health, agriculture and infrastructure sectors in Sindh. "The urge for development of Sindh has brought me here at the WB Country office."</strongThis he said while talking to WB Country Director Mr Illang Patchamuthu at WB Country office where he had a luncheon-meeting with him today.The chief minister said that the total development portfolio of WB in Sindh was $1.14 billion which include Education, health, irrigation, Agriculture, skill development and other sectors.Syed Murad Ali Shah discussed Karachi mega projects which include infrastructure development of the city, water supply and sanitation projects. "Sindh government needs financial and technical assistance for implementation of these projects," he told the World Bank country director.He urged the World Bank country head to send his team to Sindh to discuss these projects with the team of provincial government so that necessary paper work and legal formalities could be done well in time.Presently, two World Bank projects in education sector, a $66m special grant for missing facilities and anothere $400 m Sindh Education Reform Program, are in progress.The chief minister also discussed Sukkur Barrage rehabilitation and canal lining projects with World Bank country chief.The World Bank Country Director assured the chief minister that he would consider all the proposals he had proposed on priority basis. He thanked the chief minister for visiting his office.
 Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week.</strong"The weaker dollar is providing support for oil prices today. The direction of oil prices is governed by supply and the strength of the dollar," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.The U.S. dollar index slipped against a basket of currencies on Thursday. A weaker dollar makes greenback-denominated commodities including oil cheaper for holders of other currencies.U.S. crude futures had climbed 12 cents to $44.82 a barrel by 2025 EST, after falling $1.65, or 3.6 percent, in the previous session.Brent crude futures climbed 10 cents to $46.99 a barrel after settling $1.33 lower, or 2.8 percent, at the previous close.That came after U.S. crude inventories rose 2.3 million barrels to 1.221 billion barrels in the week to Aug. 26, data from the Department of Energy's Energy Information Administration showed on Wednesday. That compared with analyst expectations of a 921,000-barrel increase.Distillate stocks, which include diesel and heating oil, unexpectedly rose by 1.5 million barrels, while gasoline inventories fell by 691,000 barrels, about half the forecast drawdown."In the absence of any price shocks, oil prices remain rangebound - as soon as oil gets down to the lower end of $40 a barrel prices find support. When oil gets down to $40-$42 investors buy, when it gets to $48-$50 they sell again", Barratt said.Speculation the Organization of the Petroleum Exporting Countries and other oil producers might agree to curb output at talks in Algeria later this month helped fuel an 11-percent rise in crude prices in August, the best monthly return since April.But optimism of an output freeze has since waned."The market is very complacent on whether OPEC can come up with a supply freeze deal. The market doesn't believe OPEC has the ability to achieve an agreement freezing supply," Barratt added.Investors are also waiting for U.S. non-farm payroll data on Friday to give the market direction, ANZ Bank said in a note.
� Sindh Chief Minister Syed Murad Ali Shah has said that it was the dream of Shaheed Benazir Bhutto to steer the country out of darkness of load-shedding by generating electricity on coal-fired power plants. "She had started this work with my father Syed Abdullah Shah, the then Sindh chief minister and now Almighty Allah has given me the opportunity to realise the dream of my leader and complete the work my father had perhaps left for me."</strongThis he said while presiding over a meeting today at CM House to review the progress of Sindh Engero Coal Mining Company (SECMC) in mining operation it had started in Thar Coal Filed Block-II and to install a coal-fired Power Plant to generate 660 MW by 2019. The meeting was attended by SMBOR Rizwan Memon, Principal Secretary Naveed Kamran Baloch, Secretary Energy Agah Wasif, Secretary Home Riaz Memon, Secretary Irrigation Zaheer Hyder Shah, CEO SECMC Shamsuddin Shaikh, his two directors, Fazal Rizvi and M. Saqib.CEO SECMC Shamsuddin Shaikh briefing the chief minister said that the mining operation has been started on war footings.� He added out of 112 m BCM over burden (OB) 7 meter BCM has been removed. This shows that overall 6 percent progress has been achieved against the planned 5.3 percent progress.���He said that 31 meter mine depth has been achieved, large scale mining equipment would reach by next month and drilling of de-watering wells and other infrastructure is in progress. He added that the revised outlook $7663 million against the estimated $845 m.Talking about the progress of two coal fired power plants, each one of 330 MW, Mr Shaikh said that basic engineering has been completed, procurement activities are ahead of schedule with the placement of purchase order (PO) for boiler, Steam Turbine and Steam Turbine Auxiliaries. He added that the construction activities at the site include advanced completion of Piling at Stack Area and Turbine Main Hall while construction of the foundation of Piling of Turbine Pumps is in progress. It would cost &amp;1.1 billion.Sindh Chief Minister Syed Murad Ali Shah urged the SECMC CEO to accommodate as much local in jobs as possible. On the chief minister was told that presently, 2,028 employees were working on there, of them 647 were Chinese, 997 Tharis and 384 others. The chief minister directed him to create employment opportunities for the women.��The chief minister taking a policy decision approved to establish a school over two acre land near Thar Lodges, Islamkot so that local residents would be imparted proper education. "I am keen to see Tharis working on good positions in the companies working and to work at Thar Coal filed," he said and urged the secretary Finance to get the school started on Public Private Partnership mode.The chief minister was informed that some 500 dump truck drivers were required for Mining project for which 400 would be Tharis.� It was disclosed that training of 200 drivers by NLC has been started at Rs30 million. So far 100 drivers have been inducted for mining operation.The Chief Minister directed IG police to provide more security at Thar coal field Block-II for Chinese engineers. The home secretary informed the chief minister that presently 35 Rangers personnel have been deployed on the security of foreigners working at Block-II. Apart from it 134 policemen have also been deployed at the Site. More police force would be deployed there till the creation of a special force of 2000 ex-armymen for CPEC projects.
 Indonesia's procurement agency has reached an initial agreement to import an extra 70,000 tonnes of buffalo meat from India this year, as it seeks to balance the effects of food import controls aimed at improving self sufficiency.</strong"In principle they both agree. We'll discuss the details today," Bulog procurement director Wahyu said on Friday, referring to discussions with the trade and agriculture ministers.Wahyu, who like many Indonesians goes by one name only, said the deal would bring Indonesia's total buffalo meat imports to 80,000 tonnes in 2016.The buffalo meat imports are intended to help stabilize meat prices that have climbed as a result of beef and cattle import restrictions."Buffalo meat imports provide a meat alternative to the community that's cheaper, healthy and Halal," Bulog CEO Djarot Kusumayakti told reporters.According to trade ministry data, beef currently costs around 115,000 rupiah ($8.68) per kg. Bulog is selling buffalo meat for 65,000 per kg at a consumer level.President Joko Widodo said earlier this year he wants fresh beef to cost around 80,000 rupiah per kg.Indonesia, which has the world's biggest Muslim population, imports virtually all of its cattle from Australia - a trade that was worth nearly $600 million in the last financial year.Indonesia is pushing importers to start breeding their own cattle as part of efforts to reduce its dependence on imports.Last year, Indonesia had to cull millions of chickens to ease supply swings and issued more import permits for cattle to cool beef prices.Bulog will also import 260,000 tonnes of raw sugar this year, "most of it from Brazil," Bulog CEO Djarot Kusumayakti told reporters.In June, Southeast Asia's largest economy said it would control wheat imports that had jumped after corn imports were capped this year.($1 = 13,251 rupiah)
 Some of the world's biggest consumer groups are making halal face creams and shampoos for Indonesia ahead of a new labeling law, part of a broader push to cater to growing Muslim populations as sales in many Western markets slow.</strongUnilever, Beiersdorf and L'Oreal are among the multinationals converting their supply chains for the world's biggest Muslim-majority nation.The law, the first of its kind, requires food to be labeled halal or not in 2017, followed by toiletries in 2018 and medicines in 2019.The companies say demand for beauty products that are halal, or target specific issues like veiled hair, will grow as the Muslim middle class grows. They note that Indonesia could influence other countries such as Malaysia where halal products made locally or by small, niche companies are also popular.Halal certification is official recognition that a product was manufactured in keeping with Islamic Sharia law. This means it must not contain traces of pork, alcohol or blood, and must be made on factory lines free of contamination risk, including from cleaning.Makers of cosmetics and toiletries say the burden is more administrative than financial, and therefore see compliance as unlocking new revenue streams."It's an enabler to do business in certain areas of the world," said Dirk Mampe of German chemicals company BASF, which sells ingredients to toiletries manufacturers and now has 145 of them certified halal. The halal ingredients do not carry premium price tags, he said."There is a trend that these halal products are being requested more and more, and the importance of being able to supply them is increasing."More than 1.5 billion people around the world are Muslim, accounting for about a quarter of the global population.Halal cosmetics were estimated to make up 11 percent of a global halal market worth more than $1 trillion in 2015, according to Deloitte Tohmatsu Consulting. Market research firm TechNavio sees halal personal care products' sales growing 14 percent per year until 2019, outpacing the broader market.strong>NOT-SO-SECRET FORMULA</strongFrench cosmetics giant L'Oreal already has a halal-certified factory in Indonesia that supplies the domestic market and its Southeast Asian neighbors. Most products under its Garnier brand, from face washes to skin lightening creams, are halal-certified, a spokeswoman said.The personal care industry already depends largely on plant-derived ingredients, so the rules for halal often affect production more than formulation.But certification can get complicated. For example, the maker of an Indonesian skin cream with a dozen ingredients from around the world would need to give Indonesian authorities proof from other certification bodies that each ingredient was made in a halal way.Malaysia-based DagangHalal has made a business from that complexity by establishing an online database of halal certificates to ease their exchange and expedite the process for applicants. As of February, it said 38 out of over 120 certification bodies worldwide had signed up.The company, which also runs a halal e-commerce site, reported 2015 revenue of 5.6 million Malaysian ringgit ($1.4 million), up 64 percent year-on-year. It raised 3.6 million pounds ($4.7 million) from this year's London stock listing, and is betting that halal cosmetics will gain traction beyond their current strongholds of Indonesia and Malaysia."Halal certification is a requirement that might be put in place by other countries in the future," Joerg Karas, general manager of Schwan-Stabilo Cosmetics, said in a statement last month. The German company, which is ready to offer halal-certified products to customers such as L'Oreal and Procter &amp; Gamble, said it is "well-equipped for this niche market".Non-halal products will remain available in Indonesia following the labeling law, but may meet a backlash."The average Muslim consumer in Indonesia is not going to buy something that effectively says prohibited on it," said Abdalhamid Evans of halal consultancy firm Imarat Consultants.Unilever, which owns five of Indonesia's top ten beauty and personal care brands, says all nine of its factories there already meet halal standards and that it is currently working with third-party suppliers of imported ingredients.Alan Jope, who runs Unilever's personal care business from Singapore, told Reuters the cost of certification was "not material".strong>MUSLIM VALUES</strongCompetition with homegrown rivals steeped in local tradition can be fierce, especially when it comes to regulation. But Jope said the key for multinationals like Unilever -- with global marketing and development teams -- is understanding Muslim values generally and how they influence habits in specific markets with different cultures and ethnicities."Some (values) are common across Muslim countries," he said, noting that about 90 percent of Muslim consumers say faith influences their brand choices."But there's quite substantial differences between how a Muslim woman in Indonesia and a Muslim woman in Saudi Arabia express their faith and how that impacts their beauty regimes."He guessed that one third of the top twenty markets for Unilever's 20 billion euros-per-year business were countries with large Muslim populations, from India to Nigeria. He said better meeting their needs was a top strategic priority.To that end, Unilever has introduced products such as a gel body moisturizer that absorbs quickly beneath long undergarments and a long-lasting toothpaste appealing to those fasting for Ramadan.Like rival Henkel, it sells a line of shampoo for veiled hair, but Jope said the industry needs to improve its advertising, such as by featuring more women in hijabs."We need to be doing a better job reflecting Muslim values in our brand communication," he said.($1 = 4.0480 ringgit)($1 = 0.7614 pounds)
 Reliance Industries unveiled its Jio telecom network on Thursday, touting free calls and rock-bottom data prices that sent shares of established telecom players into a nosedive on fears of an all-out price war.</strongReliance Chairman Mukesh Ambani, India's richest man, told the energy group's annual shareholders' meeting that services on the Jio network would be available for free until Dec. 31 in a "welcome offer".Reliance, which has been giving freebies for the past few months as part of network testing, did not say when it would start billing customers.Reliance, one of India's biggest conglomerates which gets most of its revenue from its sprawling oil and gas business, has in recent years expanded into more consumer-facing markets such as retail and telecoms as growth slows in its core business.The company, which secured telecom airwaves in 2010, has so far invested more than $20 billion on building a nationwide network and has pledged to offer affordable services to price-conscious Indian customers.Ambani, who was interrupted by repeated rounds of applause as he took shareholders in a packed auditorium through Jio's ambitious rollout plans, free countrywide roaming offering and more, vowed to "transform India from a high-priced data market to one with the lowest data rates anywhere in the world."Jio could make Reliance a big provider of telecoms and internet services across India - a nation of 1 billion mobile phone subscribers - and is a key plank of Ambani's strategy, even though the business is unlikely to add significantly to group profits any time soon.Jio will effectively price 1 gigabyte of data at about 50 rupees on average, about one-fifth of what rivals charge, Reliance said in a statement.Ambani set a target of 100 million customers for Reliance Jio "in the shortest possible time", without specifying.strong>PRICE WAR</strongShares in India's No. 1 wireless carrier Bharti Airtel Ltd dropped 6.3 percent while smaller rival Idea Cellular fell 10.5 percent, on fears that Jio's aggressive rates will trigger a price war. Incumbents have already started lowering data prices ahead of Jio's entry.Bharti Airtel said: "We welcome Reliance Jio�s entry to the digital world and wish them the very best," but made no comment on the new entrant's price plans. Idea did not comment.Still, one telecom analyst with a foreign brokerage said Jio would face challenges in luring low-spending phone users to its network.Jio's cheapest of 10 plans starts at 149 rupees ($2.22) a month and offers just 0.3 gigabytes of data, while the next monthly plan costs 499 rupees for 4 GB of data. It will also offer a 299 rupee plan with 2 GB of data which has to be used in 21 days.By comparison, the monthly average revenue per user for India's telecoms industry, where many still use basic phones, was 127 rupees in the quarter ended March, according to latest data available with the sector regulator."It is definitely aggressive and will hurt the incumbents," said the analyst who declined to be named as he is not authorised to speak to media. "But it's not like it's going to push everyone else out of the market."
 Crude prices rose on Friday after losses of more than 3 percent a day earlier, with investors treading cautiously ahead of key U.S. employment data that will help gauge the health of the world's largest economy and oil consumer.</strongBrent crude had climbed 27 cents to $45.72 a barrel by 0426 GMT, while U.S. West Texas Intermediate crude futures were up 24 cents at $43.40 a barrel, buoyed by a weaker dollar.Though rising in this session, Brent and WTI are on track for their biggest weekly losses since mid-January, hit by oil inventory builds and weak U.S. manufacturing data."Downward momentum is a feature of the oil market," said CMC Markets analyst Ric Spooner."The end of the U.S. driving season and the prospect of building inventories create downward risk for the oil price and may see further pressure on energy stocks today."Investors are looking ahead to non-farm payroll data later in the day for a sense of the direction of the U.S. economy, with a strong reading seen boosting the chance of a Federal Reserve interest rate hike soon.A rate rise may strengthen the U.S. dollar, which could depress oil prices as it would make the dollar-denominated commodity more expensive for holders of other currencies.Friday's oil price gains may be capped by concerns of slowing global economic growth. There is also growing scepticism among traders that the Organization of the Petroleum Exporting Countries (OPEC) and other producers such as Russia will agree to freeze production at a meeting in Algeria later this month.However, lending credence to a freeze, Saudi Arabia, the world's biggest crude exporter, has appeared to change its stance and is likely to support production stabilization at the meeting.But further clouding the issue, Russian Energy Minister Alexander Novak on Friday played down the potential for talks on a possible output freeze.Additionally, more U.S. supply will return to the market as some producers in the eastern parts of the Gulf of Mexico are restarting operations after Hurricane Hermine is set to make landfall.Manufacturing activities in parts of Asia, which accounts for most of the world's oil demand growth, has also slowed."Most of Asia depends on exports, and without demand picking up in the west and on the mainland (of China), it's hard to see a sustained rebound in trade," HSBC economist Frederick Neumann said in a note.
 �The old design banknotes will cease to be legal tender with effect from December 1, 2016 as per Federal Government�s Gazette Notification.According to SBP notification, it has now been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000 while the Rs 5 banknote and the old design Rs 500 banknote have already been demonetized.It is worth mentioning that SBP issued a new design banknote series, which started with the issuance of Rs 20 denomination banknote in 2005, to improve the security, durability and aesthetic quality of banknotes.The process of issuance of complete series of new design banknotes, comprising eight denominations (Rs 5, 10, 20, 50, 100, 500, 1000 and 5000) was completed in 2008.The commercial microfinance banks will accept the old design banknotes of Rs 10, 50, 100 and 1000 and exchange the same with the new design banknotes and coins of all denominations up to 30th November 2016 only.However SBP BSC field offices will continue to accept the old design banknotes of Rs 10, 50, 100 &amp; 1000 from general public up to December 31, 2021.The last day to exchange all old design banknotes from banks is November 30, 2016.All old design banknotes shall cease to be legal tender on December 01, 2016 while last day to exchange all such banknotes from SBP BSC field offices is December 31, 2021, it added.�
 Spain has nominated as its World Bank representative a former industry minister who resigned following allegations of links to offshore dealings which emerged after he was named in the Panama Papers.</strongThe Economy Ministry said in an e-mailed statement late on Friday night that the Spanish government had proposed Jose Manuel Soria as executive director at the World Bank.Soria, who has denied any wrongdoing, resigned as minister in April following reports of alleged links to an offshore company on the British island of Jersey in order to limit any damage to Spain's caretaker government, the conservative People's Party (PP).Soria's resignation came ahead of Spain's national election in June, its second in seven months, which ended as inconclusively as the previous one in December..The nomination was announced when acting Prime Minister Mariano Rajoy from the PP failed at the second attempt to win a new term, increasing the likelihood that Spain will have to hold its third election in year.In what could become another public embarrassment for the PP caretaker government, plagued by a string of corruption scandals, the opposition Socialists have said they will demand Economy Minister Luis de Guindos urgently appear in parliament to explain the reasons for the government's nomination.The PP has faced a slew of investigations over allegations of misappropriating public funds and influence peddling, which have seen several of its politicians resign. The PP has denied it has a problem with corruption, saying the cases are isolated and it is tackling them.The World Bank's 189 governors are expected to vote on Soria's candidature as part of the process of appointing 25 executive directors.The Spanish government examines the suitability of candidates based on their track record in public service as well as on their experience when selecting for international posts, the Economy Ministry said.
 Directorate General of Immigration and Passports has contributed Rs. 86.571 billion to national exchequer on account of passport and visa fee during last five years.</strongThe introduction of new measures as per modern requirements by Ministry of Interior (MoI) have resulted in enhanced earning in passport and visa fee domain which has reached Rs. 20.846 billion in 2015-16.The year wise data has revealed on Saturday that the performance of the Department can be gauged from the fact that during two years�� 2013 14 and 2014 15 the total earning contributedto national kitty was Rs. 36.063 billion.During 2013 14 Directorate General of Immigration and Passports earned Rs. 17.717 billion and Rs. 18.356 during 2014 15. Similarly during 2011 12 the earning of the Department on account of passport and visa fee was 13 346 and Rs. 16.306 billion during 2012 13.The total earning during 2011-12 and 2012-13 was Rs. 29.652 billion.The steps taken by present government to enable the Department run on modern needs helped in enhancing the revenue up to around Rs. 6.41 billion.
 The State Bank of Pakistan on Monday issued directions to commercial banks to remain open on September� 10, just before the start of the Eidul Azha holidays.</strongThe SBP directed banks to keep all of their branches open on Sept 10, Saturday from 9 AM to 530 PM.The directions were issued to the presidents of the commercial banks to facilitate consumers ahead of the Eid holidays.The central bank asked all the related banks to ensure punctuality of time.The government today announced three public holidays for the event of Eidul Azha to be celebrated on September 13, 2016.According to a notification issued by the Interior Ministry, September, 12, 13 and 14 would be public holidays.
 Bahrain-based Al Baraka Banking Group BARKA.BH, one of the Gulf's top Islamic banks, said its Pakistani unit would merge with Pakistan's Burj Bank to create an institution with assets totaling more than $1.1 billion.</strongThe merger, which was approved by shareholders of the two banks last month and still needs regulatory approvals, would see Burj Bank holders receive one Al Baraka Bank (Pakistan) share for every 1.7 shares in Burj, the Bahraini bank said on Monday.The merger is expected to take effect from the last quarter of this year, with 74 Burj Bank branches converted into Al Baraka Bank (Pakistan) branches to form a combined network of 224 branches across the country. The Bahraini bank will be the major shareholder in the merged institution.Burj Bank, one of Pakistan's five full-fledged Islamic banks, attracted interest from several Pakistani institutions and short-listed three to conduct due diligence before agreeing to the merger with Al Baraka.Currently, the largest shareholders in Burj Bank are Bahrain's Bank Al Khair with a 37.9 percent stake and the Jeddah-based Islamic Corporation for the Development of the Private Sector, which holds 33.9 percent.Bahrain-based Islamic investment bank GFH Financial Group GFH.DU said last month that it had signed a memorandum of understanding to buy a majority stake in Bank Al Khair.
 Kuwait and the United Arab Emirates on Monday welcomed an agreement by the world�s two biggest oil producers Saudi Arabia and Russia to try jointly to stabilise oil prices.</strongKuwait "welcomes the consultations between Saudi Arabia and Russia about oil markets... and backs the outcome of these consultations for the sake of achieving a balance in the markets", acting oil minister Anas al-Saleh told the official KUNA news agency."The consultations come in the framework of cooperation among major OPEC and non-OPEC producers... to regulate and stabilise markets," said the minister of OPEC�s fifth largest producer.Emirati Energy Minister Suhail al-Mazrouei also hailed the "positive step".OPEC-member UAE "is keen on supporting and contributing to any common efforts aimed at achieving balance in the oil market", he said in remarks cited by WAM state news agency.A joint Russian-Saudi statement said they "noted the particular importance of constructive dialogue and close cooperation between the largest oil-producing countries with the goal of supporting the stability of the oil market and ensuring a stable level of investment in the long term".The comments by Saudi Energy Minister Khaled al-Faleh and his Russian counterpart Alexander Novak came after a meeting at the G20 summit in China."To this end the ministers agreed to act together or in cooperation with other oil producers," their statement said, adding they had agreed to set up a "joint monitoring group" to offer recommendations aimed at preventing price fluctuations.However, there were no details in the announcement about any elusive agreement to freeze oil output, just weeks before Moscow and OPEC meet in Algeria to discuss the crisis.The oil market has been plagued by a stubborn supply glut that saw prices plunge to near 13-year lows below $30 at the start of 2016.While it has recovered recently, the per barrel market price is still well off highs of above $100 seen in mid-2014.
 The government of the United Arab Emirates has approved a final draft of a much-awaited bankruptcy law that it hopes will strengthen confidence in the regional business hub.</strong"The law contributes in strengthening the financial, economic and legislative system in the UAE," said finance minister Sheikh Hamdan bin Rashid al-Maktoum in a statement received Monday by AFP.The move puts in place a "separate and modern law to avoid bankruptcy cases, including financial restructuring, composition procedures, restructuring debts and liquidation funds," he said."Companies and individuals are now able to restructure their debt while avoiding bankruptcy liquidation," he added.The law will end the practice of sending people to jail for bounced cheques until a restructuring plan for business owners has been agreed with creditors, reported The National daily citing an unnamed government official.It said a number of small business owners have fled the country over the past two years in fear of being jailed for defaulting on debt and other financial obligations."The bankruptcy law helps in attracting foreign investments due to the increase (of) trust in the economic environment and the flexible legislative infrastructure that protect investors� assets and facilitate business," said the minister.The emirate of Dubai, one of seven sheikhdoms that form the UAE, has evolved over in recent years into a regional hub for business and services, attracting foreign companies to set up regional headquarters.
 Tax-exempt military fuel imported into Afghanistan is being sold on the open market, industry officials and a new anti-corruption report reveal, causing the government huge revenue losses as Kabul struggles to wean itself off foreign aid.</strongAn AFP team witnessed first-hand evidence hinting at how duty-free fuel destined for NATO and local forces is being sold commercially when an Afghan energy official swooped unannounced on a Kabul oil depot last week.Flanked by a gaggle of assistants and bodyguards, the official examined a sheaf of customs documents from visibly nervous fuel tanker drivers, scouring the fine print for any trace of the illicit practice that traders have long claimed is crippling the industry.Among the documents from one driver was a "maafinama" -- a tax-exemption certificate for military fuel that cuts costs by around $200 a ton -- showing fuel imported from Turkmenistan in the name of the Afghan interior ministry.Only fuel bound for foreign troops as well as the defence and interior ministries -- responsible for Afghan military and police -- is exempted from custom duty, following a security agreement between the government and NATO."What is this fuel doing in this market?" asked the official, standing near huge cylindrical reservoirs in the depot that supplies fuel to commercial traders and fuel stations."That�s the big question," he continued as he snapped pictures of the document and truck, pledging a full investigation.He allowed AFP to accompany him during the inspection but requested that his name be withheld for safety reasonsstrong>- �Misuse� -</strongNo commodity is as vital to the reconstruction effort in war-ravaged Afghanistan as fuel -- and none more at risk of being stolen, smuggled or wasted in a country bedevilled by corruption, observers say.Last year, more than one million tons of internationally funded military fuel was imported into Afghanistan, the finance ministry said, with its uncharged customs duty estimated to be around $100 million."The custom duty exemption mechanism... (for) international forces has led to abuse by fuel traders which allows them to illegally profit," said a new report by the Independent Joint Anti-Corruption Monitoring and Evaluation Committee (MEC), which was seen by AFP.The report, due to be released on Tuesday, said 20 commercial companies were issued tax-exemption certificates last year.The process to obtain "maafinamas" involves a tightly bureaucratic application system that goes through the US military, NATO and the Afghan finance and foreign ministries -- but the document remains prone to "misuse"."Companies that possess legitimate exemption forms have been known to sell the original to other companies," the report said, explaining how military fuel was ending up in the commercial market."(Also) after the customs department process the exemption paperwork, the companies that have been granted exemption forms re-sell the fuel."NATO said it could not immediately comment, and the interior and defence ministries did not respond to AFP�s queries.Shafiq Qarizada, deputy minister for customs, told AFP he "cannot confirm nor deny" whether exempted fuel is washing up in the commercial market.strong>- �Contaminated� -</strongThe comments come ahead of a crucial conference in Brussels in October, where donor countries are expected to reaffirm civilian aid funding for Afghanistan over the next four years.Afghanistan is battling what observers label "donor fatigue" as efforts to replace its huge foreign aid dependency with self-sufficiency are thwarted by corruption and criminal networks imperilling the already weak economy.Misuse of fuel exemptions is killing local businesses in a country that is heavily dependent upon imports to meet its energy needs, two private traders told AFP.The exemption waves off 12 percent customs duty among other charges, officials say."Maafinamas have contaminated the commercial market," said the official who carried out the inspection."How can a trader who dutifully pays taxes compete with cheaper maafinama fuel? This is suffocating lawful businesses and encouraging smuggling of fuel... and resulting in custom revenue losses worth millions."The misuse also has potential military implications.In May last year 17 Afghan policemen were killed when the Taliban stormed their remote base in the mountainous province of Badakhshan.Officials at the time said the policemen were unable to escape because they lacked adequate fuel for their vehicles, raising concern that military fuel was not reaching its intended destination.There are ongoing discussions for a Memorandum of Understanding between NATO and the finance ministry to curb the misuse of maafinamas, multiple sources including Qarizada told AFP.Among various reforms being discussed is a suggestion to levy customs duty on all military fuel and reimburse payments for actual deliveries."MEC understands from interviews with both (NATO) and (finance ministry) that this reform is strongly supported but it is still not implemented," the MEC report said."Why not? Is the reason for the delay perhaps another instance of corruption?"
 The global economy is being threatened by rising protectionism and risks from highly leveraged financial markets, Chinese President Xi Jinping said at the open of a two-day summit of leaders from G20 nations.</strongHis warning on Sunday followed bilateral talks with Barack Obama that the U.S. president described as "extremely productive", but which failed to bring both sides closer on thornier topics such as tensions in the South China Sea.With the summit taking place after Britain's vote in June to exit the European Union and before the U.S. presidential election in November, observers expect G20 leaders to mount a defense of free trade and globalization and warn against isolationism.The global economy has arrived "at a crucial juncture", Xi said, in the face of sluggish demand, volatile financial markets and feeble trade and investment."Growth drivers from the previous round of technological progress are gradually fading, while a new round of technological and industrial revolution has yet to gain momentum," he said.G20 countries are set to agree in a communique at the end of the summit that all policy measures - including monetary, fiscal and structural reforms - should be used to achieve solid and sustainable economic growth, Japanese Deputy Chief Cabinet Secretary Koichi Hagiuda said."Commitment will be made to utilizing all three policy tools of monetary and fiscal policies and structural reforms to achieve solid, sustainable, balanced and inclusive growth," Hagiuda told reporters on the sidelines of the summit.Xi also called on G20 countries to match their words with actions."We should turn the G20 group into an action team, instead of a talk shop," he said.But some of the G20 leaders have begun drawing battle lines in disputes over issues ranging from trade and investment to tax policy and industrial overcapacity.BATTLE LINESOn Sunday, Xi held talks with Australian Prime Minister Malcolm Turnbull and told him he hoped Australia would continue to provide a fair, transparent and predictable policy environment for foreign investors.China was angered when Australia blocked the A$10 billion ($7.7 billion) sale of the country's biggest energy grid to Chinese bidders last month.China has accused Australia of bowing to protectionist sentiment in blocking the bid for Ausgrid, as well as an earlier one by a China-led consortium to buy cattle company Kidman &amp; Co.Beijing has also criticized Australia, a staunch U.S. ally, for running surveillance flights over disputed islands in the South China Sea.Meanwhile, European Commission President Jean-Claude Juncker said China must set up a mechanism to address its problem of industrial overcapacity, saying it was "unacceptable" the European steel industry had lost so many jobs in recent years."Overcapacity is a global problem but there is a particular Chinese element," he told a news conference.Britain's future after its departure from the European Union was also subject to discussion.Obama reassured Prime Minister May that Britain's closest political, commercial and military ally would stand by her.But he did not shrink away from his stance that Brexit was a mistake and that London would not be able to jump the queue to arrange a bilateral trade deal.Juncker said that if Britain wanted access to the European Union's common market, it needed to respect the rules of the common market.Turnbull, meanwhile, said Australia wanted an early free trade agreement with Britain so markets could remain open between them when Britain formally left the European trading bloc.LATE NIGHT TALKSObama held talks with Xi on Saturday that ran late into the night.He urged Beijing to uphold its legal obligations in the disputed waters of the South China Sea, and stressed U.S. commitments to its regional allies.Xi said China would continue to safeguard its sovereignty and maritime rights in the South China Sea.But China is keen to keep the summit focused on economic issues and to prevent other disputes from overshadowing it.According to a "fact sheet" on China-U.S. relations issued on Sunday, the two sides agreed on a range of issues, including avoiding competitive currency devaluations and not limiting deal opportunities for foreign information and communication technology providers.Obama, now in the last five months of his presidency, is using the visit to put a final stamp on his signature policy shift toward the Pacific, setting the tone for his White House successor, who will be elected in November and take office on Jan. 20.His visit began chaotically at the Hangzhou airport, where his staff argued with Chinese security over media access. Obama said on Sunday he "wouldn't over-crank the significance" of the airport events."None of this detracts from the broader scope of the relationship (with China)," he told a news conference. "The bilateral discussions that we had yesterday were extremely productive and continue to point to big areas of cooperation."Security was extremely tight in Hangzhou, with parts of the city of 9 million people turned into a virtual ghost town as China seeks to ensure that the G20 summit stays incident-free.
 Dubai developers are rolling out their scale models for the city�s latest grandiose property projects despite continued falls in real estate prices.Shimmering skyscrapers, golf-course villas and houses in sprawling communities are on show at Cityscape, a fair with a growing a reputation as the venue for launching the emirate�s mega projects.The centrepiece of this week�s fair is Jumeirah Central, an entire district with a mixture of residential and office blocks, hotels and a mall, along the city�s Sheikh Zayed artery.The project is being developed by state-owned Dubai Holding -- the maker of the luxurious, sail-shaped Burj al-Arab hotel.Emaar South is another new development announced on the eve of Cityscape by Emaar Properties, which built Burj Khalifa, the world�s tallest tower, among other Dubai landmarks.It is to be erected in Dubai South, a vast desert that hosts Dubai�s second airport Al-Maktoum which is touted to become the world�s largest and replace Dubai International as the base for Emirates Airline.Dubai became a magnet for property investments when it opened the sector to foreigners in 2002, standing out in a region that mostly confines freehold ownership to citizens.The value of property surged at breakneck speed until the global financial crisis hit the debt-laden emirate in 2009, sending prices into free-fall.A recovery led by tourism, trade and transportation pushed prices up again between 2012 and 2014 and stirred fears of yet another bubble, before they headed south again at a slow pace.Prices had dropped by about 15 percent since peaking in mid-2014, according to a report by property consultancy Jones Lang LaSalle.Transactions amounted to 57 billion dirhams ($15.5 billion) in the first half, according to official statistics, with Emirati nationals topping the list with deals worth 14.5 billion dirhams.The rest were snapped up by foreigners led by Indian investors, with transactions worth seven billion dirhams, while Saudis and Britons clinched deals totalling four billion dirhams each.
 Crude prices rose in Asia Tuesday after Russia and Saudi Arabia pledged to work on addressing a global supply glut, but analysts said gains would be limited after the two sides provided scant detail about their plans.</strongSaudi Energy Minister Khaled Al-Falih and his Russian counterpart Alexander Novak agreed to "act together" to steady the market but stopped short of agreeing to a production freeze.On the sidelines of the G20 summit in China, the ministers said they will act "together or in cooperation with other oil productions" and agreed to set up a "joint monitoring group" to offer recommendations to prevent price fluctuations.News that the two sides were about to make an announcement sent both contracts soaring Monday but the gains were all but wiped out after the statement.At about 0720 GMT, the US benchmark West Texas Intermediate was up 78 cents, or 1.76 percent, at $45.22 and Brent added six cents, or 0.06 percent, to $47.69. With US markets closed Monday for a holiday, electronic transactions on WTI will be booked Tuesday for settlement purposes.The comments come three weeks before Russia joins OPEC, of which Saudi Arabia is the kingpin, for talks in Algeria to discuss the supply crisis that has hammered prices for two years."Despite the rather nebulous language (of the statement) the market was clearly on the hope side of the equation," OANDA senior market analyst Jeffrey Halley said in a note."The longevity of the rally being how long before reality bites with the OPEC meeting still three weeks away."The previous attempt at reaching a deal in April was scuppered by OPEC member Iran�s refusal to agree to any output freeze, and there are worries about the chances of an agreement in Algiers.
 Saudi BinLadin Group has failed to clear dues of its workers and fired thousands of employees amid the recent oil downturn which badly dented its bottom line, Arab media reported on Wednesday.</strongAccording the media reports, BinLadin Group failed to deliver on its promise to pay overdue salaries to 0.1 million employees. The multinational giant was forced to cancel several projects and laid off thousands of workers as the slump in oil prices last year left the company battling a severe financial crisis.Around 31,000 foreign and local employees, including 31 Pakistanis, have registered complaints against the company for its failure to pay them the dues.Chairman of the construction company told the media that the Group would only be able to pay the overdue salaries once it receives withheld payments from the government.
 India will present proposals to the World Trade Organization on ways to ease trade in services, Commerce Minister Nirmala Sitharaman said on Wednesday, as Asia's third-largest economy seeks to leverage one of its competitive strengths.</strongIndia cleared the way for a WTO Trade Facilitation Agreement covering goods in 2014, after tortuous talks in which it won a concession letting it stockpile strategic food reserves for its mostly poor population of 1.3 billion people.New Delhi has often dragged its feet in the multilateral arena and been reluctant to cut bilateral free-trade deals because experience has shown its goods sector often cannot compete on international markets.By contrast, India's services sector, including back-office operations for multinationals, is a big export earner and the idea of striking a similar multilateral deal on services first came up at a meeting of trade ministers in Paris in June."While there seems to be trade facilitation for goods, there doesn't seem to be trade facilitation for services, and that was a point I made in Paris," Commerce Minister Nirmala Sitharaman told reporters at a business conference in New Delhi."This is a matter on which the WTO will now have to work," said Sitharaman, speaking on the sidelines of the Economist India Summit.Prime Minister Narendra Modi called for freer trade in services at the recent Group of 20 summit hosted by China and, Sitharaman said, India will soon submit a paper to the WTO as requested at the Paris meeting.Modi told the G20 grouping that a knowledge and innovation-driven economy required free movement of professional workers.Restrictions on the admission of Indian IT experts have been one area of concern between the United States and India, and figured in recent two-way strategic and commercial talks.�
 The dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak U.S. services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month.</strongMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, extending its chunky gains of 2.7 percent over the last two days, to claim a level last seen in July last year."When people think there's no immediate rate hike from the Fed, then Asia and emerging markets are the place to go to, as investors seek yields," said Toru Nishihama, senior economist at Dai-ichi Life Research.Japan's Nikkei slid 0.7 percent, however, as the yen gained sharply versus the dollar, putting more pressure on exporters in the world's third-largest economy.The Institute for Supply Management's index of non-manufacturing activity fell to 51.4, its lowest level since February 2010, from 55.5 the month before and well shy of the 55 estimate.Given the strength in the service sector has been making up for softness in the manufacturing in the past year or so, the data was a blow to the case for the Fed to raise interest rates as soon as this month."The Fed now looks certain to keep rates on hold this month," said Shuji Shirota, head of macro economics strategy group at HSBC in Tokyo.Comments from several Fed officials in recent weeks had boosted bets on a rate hike in coming months, but investors have had to scale back their expectations since Friday's weaker-than-expected U.S. payrolls report.San Francisco Fed president John Williams, speaking after the ISM data, also said he expects the Fed will raise rates gradually over the next few years."Recent hawkish comments from Fed officials were probably intended to warn markets against being too complacent about the chance of a rate hike, rather than to make markets fully price in a rate hike," Shirota said.U.S. bond yields fell, with policy-sensitive two-year notes yield US2YT=RR falling to 0.730 percent, its lowest since Aug. 19, down from 0.853 percent marked on Aug. 29.U.S. interest rate futures price gained to indicate only about 15 percent chance of a rate hike this month and just over 50 percent even by December, compared to above 20 and 60 percent, respectively, before the data were released.Declining U.S. yields undermined the dollar against other currencies and precious metals. The dollar, which had slumped 1.38 percent on the yen on Tuesday, shed another 0.5 percent to 101.48 yen.The yen gained additional support from a media report that the Bank of Japan's board is struggling to agree on a common front in its planned policy review.The euro maintained Tuesday's 0.96 percent rise against the dollar, the biggest daily gain in three months on Tuesday and last stood at $1.1247.A resurgent British pound rose to near eight-week high of $1.3445 on Tuesday and held firm at $1.3416.Gold rallied to $1,352.4 per ounce to near three-week highs on Tuesday, and last stood at $1,350.0.The Australian dollar took a breather. It was last down 0.2 percent at $0.7668 after GDP data largely met expectations, with Australia's annual growth clocking its fastest pace in four years last quarter, clinching a remarkable run of 25 years without recession.Oil prices kept some distance from three-week lows touched last week, maintaining a part of gains made after Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future.Brent crude futures stood at $47.49 per barrel LCOc1, up 0.5 percent on the day and above its low last week of $45.32.
 Oil prices rose built on recent gains Thursday thanks to a softer dollar and industry data indicating US stockpiles sank last week.</strongThe gains extend a seven percent rally in the commodity since hitting Thursday�s two-week lows as investors look ahead to a Russia-OPEC meeting at the end of the month aimed at addressing an oversupply crisis.The latest bump came after the American Petroleum Institute, an industry-funded group, said US inventories fell 12.1 million barrels last week, according to Bloomberg News.Eyes are now on the release of official figures from the US energy department later Thursday, which will provide a better idea of the strength of demand in the world�s top economy and crude consumer.At about 0320 GMT, US benchmark West Texas Intermediate for October delivery was up 81 cents, or 1.78 percent, to trade at $46.31 a barrel while Brent crude was up 76 cents, or 1.58 percent, to $48.74.Prices also got support from news that imports to China -- the world�s top energy consumer -- rose in August for the first time in 22 months, raising hopes the the huge economy is stabilising after years of slowing."Looking at the erratic price action recently, traders are obviously in a state of confusion. Whipsawed by OPEC comments, which run counter to the fundamental supply argument," said OANDA senior trader Stephen Innes in a note.Russia and OPEC are due to meet in Algeria later this week to discuss how to deal with a supply glut that has dragged down oil prices for the past two years.But traders are still sceptical on whether a deal can be reached after earlier efforts this year were scuppered by Iran who refused to agree to any deal as it emerged from years of nuclear-linked Western sanctions.
 Global airport traffic grew at its fastest rate last year since 2010, rising 6.4 percent to 7.2 billion passengers, according to data published on Friday by an international trade association representing airports.</strongBut passenger growth this year could be tempered by the threat of militant attacks, geopolitical unrest and potential bottlenecks for passengers lining up to clear security checks, said the report by Montreal-headquartered Airports Council International, or ACI."It is important to maintain cautious optimism as we navigate through 2016," ACI World Director General Angela Gittens said in a news release. "There are several impediments that could curtail the continued rise in demand, which could potentially encumber growth prospects over the short and medium terms."While the highest number of passengers, 2.46 billion, went through the Asia-Pacific region in 2015, up 8.6 percent from a year earlier, Atlanta's Hartsfield-Jackson remained the world's busiest airport, the report said.Passenger traffic in emerging markets and developing economies soared 8.1 percent in 2015, compared with a 5.2 percent rise in slower-growing mature markets, said ACI, which collects data for over 2,300 airports in 160 countries.Passenger traffic generated by Brazil, Russia, India, China and South Africa grew 8.2 percent on an annual basis.Globally, there were 37 large airports with over 40 million passengers, more than double the number in 2005."This level of growth is unprecedented, particularly since a majority of the airports in this category are from the typical mature markets of North America and Europe," the release said.It said North America experienced a resurgence in air transport demand, especially at many of its large hubs, following years of consolidation and capacity discipline by U.S. airlines. Large airports are benefiting from capacity shifts where flights are being directed through major connecting hubs.But the trend toward hubs comes at the expense of smaller regional airports, which are losing out on traffic, Gittens noted.Air cargo grew more weakly than passenger traffic, rising 2.6 percent in total volume during 2015, partly because of subdued growth in emerging markets and developing economies.
 Finance Minister Ishaq Dar will launch Tax Directory of Parliamentarians and general tax payers here at the Federal Board of Revenue (FBR) today.</strongIt may be mentioned here that the cabinet approved the publication of Tax Directory of parliamentarians and general tax payers, official sources said.Pakistan is the 4th country in the world which is issuing tax directories and had been publishing for the last two years.
 The Pakistan International Airlines (PIA) has planned to induct second A 330 aircraft in its Premier Service launched on August 14 this year on London route during next month official sources said.</strongAll flights of London will be operated on airbus A 330 with the Premier Service, the sources told APP.Commenting on the future plan they informed that the third airbus was being planned to enroll in the Premier fleet in February2017. While the PIA would also be looking for the service expansion to other suggested international routes like Toronto New York Birmingham and Beijing, they added.At present they said the Premier Service flights from Islamabad to London were being operated on Monday, Wednesday and Sunday while from Lahore to London on Tuesday, Thursday and Saturday.Commenting on the return schedule they said the flights operated from London to Islamabad on Tuesday, Saturday and Sunday whereas from London to Lahore on Monday, Wednesday and Thursday.The aircraft is equipped with 38 business and 269 economy class seats LCD screens and flight entertainment with 250 channels and flat bed service for business passengers.In addition a complimentary limousine service is also being extended to the business class passengers at the Heathrow airport for their destinations within a radius of 25 kilometers.Currently the sources said the PIA fleet consisted of 38 aircraft including 11 A 320 Airbuses, five A 310 Airbuses, 11 Boeing 777, six ATR 42 and five ATR 72. Efforts are underway to further expand the fleet and hopefully its strength will reach 42 during the current financial year, they said.
 State Bank of Pakistan (SBP) has directed all commercial and Micro Finance Banks (MFBs) to ensure all their branches remain on September 10 (today) to facilitate the consumers ahead of Eidul Azha.</strongAccording to the SBP communiqu�, all branches of commercial and MFBs will remain open today till 5:30 PM.In order to facilitate the general public during Eid-ul-Azha holidays, the central bank has also directed all the banks to strictly ensure uninterrupted service of their ATM machines.
 Pakistan Railways (PR), due to passenger friendly policies, has managed to control its losses which have reached Rs. 26.993 billion in 2015-16.</strong�Yes it is fact that Pakistan Railways has controlled its losses during last three years and as per data these are decreasing with each passing year. During 2013-14 the amount of loss was Rs. 32.527 billion, in 2014-15 the amount of loss was Rs. 27.247 billion and thanks to the best strategies introduced by Minister for Railways in the department, the losses came down to Rs. 26.993 billion during 2015-16,� official sources said here on Monday.The sources while citing the steps taken by the government to control the losses of Pakistan Railways, said competitive freight rates have been introduced to diversify traffic from road to rail.Preference is being given to block train load freight trains, the sources said and added Freight Deposit Account (FDA) based agreements have been executed with long lead bulk importers such as Maple Leaf cement Factory etc.They said MOUs have been signed with importing Companies like with Awan Trading Company; the Chishtian Logistics for transportation of coal to long lead destination in up country.At present, at an average 10 freight trains are being operated ex port. Availability of locomotives in freight pool has been improved from 45 to 75 locomotives and all out efforts are being made to increase share of freight earning by giving preference to high rated commodity like POL.The sources said a massive quantity coal consisting of average five trains per day will be transported by Pakistan Railways for Coal Fired Power Plants being established in public sector to overcome the energy crises while terminal facilities are being augmented by introducing latest equipments so as to curtail loading and unloading time.The sources said other steps include High Capacity/High Speed Hopper Trucks are also being introduced for swift movement/unloading of coal, existing track on main corridor (ML-1) will be upgraded under China Pakistan Economic Corridor (CPEC) and Freight Transport company has been established to explore new venues for future freight traffic.Similarly, in passengers domain, the sources said under Public Private Partnership (PPP) Pakistan Railways has recently outsourced commercial management of four trains which will generate revenue of Rs. 3.35 billion per annum.Commercial management of Luggage Vans and Brake Vans with different trains has been outsourced under PPP while reduction has been made in fare of different trains.The other measures are introduction of Green line train between Rawalpindi-Karachi via Lahore with extra facilities and amenities for business community, Wifi facility is being introduced in selected trains and at different trains value added services have been introduced to attract passengers.The sources said landmark agreement has been signed between PR and UBL to provide the facility of e-ticketing by the end of October 2016. This will revolutionize the whole concept of reservation and ticketing.A major infrastructure improvement of important Railway stations have been started to give a new concept of state of the art buildings, passenger facilitation and modern business areas within station premises.They said to provide better travelling facilities, economy class coaches are being replaced by Air conditioned standard coaches, extra coaches are also being attached to fetch more revenue and tremendous improvement has been made in service delivery.The sources said to attract more passengers in Holy Month of Ramazan, special package was introduced over the network while Eid Special trains were also introduced.
 Crude prices fell over 1.5 percent on Monday after U.S. oil drillers added rigs to look for new production as producers adapt to cheaper crude, with speculators cutting positions betting on further price rises.</strongBrent crude futures were trading at $47.29 per barrel at 0200 GMT, down 72 cents, or 1.5 percent, from their last settlement.U.S. West Texas Intermediate futures were down 80 cents, or 1.74 percent, at $45.08 a barrel.Traders said the price falls on Monday and Friday were a result of increasing oil drilling activity in the United States, which indicated that producers can operate profitably around current levels."Each dollar is being used far more efficiently and, as a result, $50 oil appears much more palatable," Barclays bank said in a note to clients.U.S. drillers added oil rigs for a tenth week in the past 11, according to a Baker Hughes rig count report on Friday. It was the longest streak without rig cuts since 2011.Speculative oil traders also became less confident of higher oil prices, cutting their net long U.S. crude futures and options positions for a second consecutive week last week, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.Oil's near 5-percent price decline since Sept. 8 partly reverses a 10-percent rally early in the month, which was fuelled by speculation that oil exporters could cap production.Algeria's energy minister said there is a consensus among OPEC and non-OPEC members about the need to stabilise the oil market to support prices, state news agency APS reported on Saturday.OPEC Secretary-General Mohammed Barkindo told APS that OPEC was not seeking a definite price range for oil but rather "sustainable stability" for the market.Moves towards clinching a global deal on stabilising crude output come five months after similar talks for a production freeze failed when Saudi Arabia insisted that Iran join the pact.Tehran says it supports any measures to stabilise the market, but has stopped short of committing to output restraint before its production reaches 4 million barrels per day, the level at which it says it was pumping before the imposition of Western sanctions which were lifted last January.Even if exporters agree on freezing output around current levels, analysts said that would do little to raise prices as most exporters are pumping out oil at or near record levels, and have adapted to do so at lower prices."Producers and service companies ... are well positioned to return to growth mode at much lower prices," Barclays said.
 The dollar�s rally against the euro and yen hit a wall Monday, but it rose against other Asia-Pacific currencies on renewed speculation that the Federal Reserve will hike interest rates this month.</strongGreenback demand picked up Friday after Boston Fed President Eric Rosengren said higher rates were needed to prevent the economy from overheating, while normally dovish Governor Daniel Tarullo also signalled his openness to a 2016 rate hike."Rosengren�s comments were nothing new compared to remarks he�d made last month, but the fact they were repeated after the intervening US data run marked them out as significant," National Australia Bank said in a commentary.Their remarks came a day after the head of the European Central Bank played down the chances of fresh stimulus, while Japanese officials have kept markets guessing on the chances of new measures.A string of weak readings for the world�s top economy -- including service sectors activity and jobs growth -- had put off expectations of any tightening until December at the earliest.On Monday in Tokyo, the dollar was changing hands at 102.54 yen, slightly down from 102.69 yen in New York late Friday but still up from 102.09 yen in Asia Friday before the Fed officials� comments.The euro rose to $1.1242 against $1.1232 in New York, while it eased to 115.28 yen from 115.35 yen.The dollar rallied 1.12 percent against the South Korean won, 0.9 percent on the Malaysian ringgit and 0.6 percent versus the Indonesian rupiah.Investors are now waiting for a speech later Monday by Lael Brainard, a dovish member of the Fed board, with speculation swirling that she will give yet another signal for a rate hike."Traders have convinced themselves the Feds are marching out Lael Brainard, a mega-dove, to bang the Fed�s September rate hike drum," said Stephen Innes, senior trader forex firm OANDA.
 Oil prices rebounded in Asian trade on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stocks.</strongThe American Petroleum Institute (API) reported a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8 million-barrel rise expected by analysts. The U.S. government will issue official inventory data on Wednesday.Brent crude futures LCOc1 were trading at $47.34 per barrel at 0103 GMT, up 24 cents, or 0.5 percent, from the last settlement.U.S. West Texas Intermediate futures CLc1 were up 29 cents, or 0.7 percent, at $45.19 a barrel.Crude prices tumbled on Tuesday after the International Energy Agency (IEA) said slowing oil demand growth amid growing inventories and supplies could signal that the market will be oversupplied at least through the first half of 2017."Oil came under heavy selling after the EIA released its monthly report showing it expected the surplus in the market to persist well into 2017," Australian bank ANZ said in a note. "Weaker oil prices are likely to weigh on the sector, with investor appetite remaining weak."Gains in crude prices could also be capped by rising crude exports from Libya after the country's National Oil Corporation (NOC) said on Tuesday it would immediately start working to resume crude exports from ports seized in recent days by forces loyal to eastern commander Khalifa Haftar.Libyan production could be raised to 600,000 barrels per day (bpd) from about 290,000 bpd within a month, further adding to the global crude supply glut.
 Authorities in the US are seeking as much as $14 billion from Deutsche Bank to resolve allegations stemming from the sale of mortgage securities in the 2008 crisis, the German financial giant confirmed Thursday.</strongThe payout would be the largest ever inflicted on a foreign bank in the United States, easily surpassing the $8.9 billion that the French bank BNP Paribas paid in 2014 for sanctions violations.But in a quick reaction, Deutsche Bank rejected the $14 billion figure, which the bank said was an opening proposal in settlement talks with US prosecutors."Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited," the statement said."The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts."The US investment bank Goldman Sachs in April agreed to pay more than $5 billion to settle similar allegations.US authorities have accused major banks of misleading investors about the values and quality of complex mortgage-backed securities sold before the 2008 financial crisis.Much of the underlying lending was worthless or fraudulent, delivering billions of dollars in losses to holders of the mortgage bonds when the housing market collapsed, bringing down numerous banks and touching off the country�s worst recession since the 1930s.According to securities filings, Deutsche Bank as of June 30 had set aside $5.5 billion to resolve pending legal matters. In the mortgage-backed securities matter, the bank is aiming for an amount between $2 billion and $3 billion, according to knowledgeable sources.The US Justice Department declined to comment.Bank of America in 2014 paid out nearly $17 billion in a related enforcement action but federal authorities have faced stinging criticism for failing to hold individuals to account.In recent years, Deutsche Bank has found itself mired litigation and enforcement actions around the world.US market regulators last year fined the German lender $55 million, concluding that it had overvalued its holdings of credit derivatives by at least $15 billion during the financial crisis.In 2015 and 2016 Deutsche Bank failed so-called stress tests conducted by the US central bank that were designed to determine whether it had adequate capital strength to weather shocks such as those of the financial crisis.In June, the International Monetary Fund described the bank as a "major systemic risk," leaving its chief executive John Cryan to strive to convince markets that Deutsche Bank was bound to recover.In April of last year, Deutsche Bank also paid a record $2.5 billion to settle American and British charges that it had manipulated the London Interbank Offered Rate, or Libor, affecting commercial interest rates.The bank also settled with the US Fed and New York�s Department of Financial Services of alleged sanctions violations in Syria and Iran.In July Deutsche Bank posted a 98 percent year-on-year drop in second-quarter profits, with net earnings recorded at only $22 million, which Cryan, the bank�s chief, attributed to "sustained restructuring."Cryan plans to cut 9,000 jobs worldwide by 2020, while the bank�s share price has fallen to around 10 percent of its pre-crisis value.
 Demonstrators took to the streets across Germany on Saturday in protest over a massive transatlantic trade deal, dealing a new blow to the disputed accord.In Berlin, as in Munich, there was a sea of flags as people flocked to join the rallies despite the rain, carrying placards and banners representing dozens of anti-globalisation groups, NGOs, political parties and unions, AFP correspondents said."People are not letting their mood be ruined" by the weather, a spokeswoman for the organisers, Kathrin Ottovay, told AFP.Roland Suess from anti-globalisation group Attac had earlier told AFP they expected 250,000 people to turn out in seven major German cities -- including around 80,000 in Berlin.Participants waved banners demanding "democracy instead of TTIP" and "share, don�t divide."The European Union and the United States began negotiating the Transatlantic Trade and Investment Partnership (TTIP) in 2013, aiming to create the world�s biggest free trade market of 850 million consumers.A new round of talks is due to start in October and US President Barack Obama wants the deal concluded before he leaves office in January.A smaller version of TTIP is also in the works with Canada, and that deal, called CETA, is due to be signed in October.Exporters are in favour of the deal as it promises lower tariffs, less red tape and a wider base of consumers for their goods.But the negotiations have faced opposition in Europe, where consumers fear it would ride roughshod over the 28-nation bloc�s labour market and environmental standards, and lead to more outsourcing and thereby job losses.Another prickly issue is the plans for a special court to hear cases by companies against governments over breaches of regulatory issues, which opponents see as giving firms a veto over public policy.
 Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.</strongBrent crude futures were trading at $46.39 per barrel at 0046 GMT, up 62 cents, or 1.4 percent, from their last settlement. U.S. West Texas Intermediate futures were up 63 cents, or 1.5 percent, at $43.66 a barrel.Venezuelan President Nicolas Maduro said on Sunday that a deal between OPEC and non-OPEC countries could be announced this month.OPEC members may call an extraordinary meeting to discuss oil prices if they reach consensus at an informal gathering in Algiers this month, OPEC Secretary-General Mohammed Barkindo said during a visit to Algeria, the country's state news agency, APS, reported on Sunday."We had a long bilateral meeting with Rouhani. We're close to a deal between OPEC producer countries and non-OPEC," Maduro told a news conference.Iran's August crude exports jumped 15 percent from July to more than 2 million barrels per day (bpd), according to a source with knowledge of its tanker loading schedule, closing in on Tehran's pre-sanctions shipment levels of five years ago.Clashes in Libya, which halted the loading of the first oil cargo from Ras Lanuf in close to two years, also raised fears of a new conflict over Libya's oil resources.Eastern Libyan forces said they had reestablished control over two oil ports where an ousted faction launched a counter-attack on Sunday, briefly seizing one of the terminals.Brent and WTI prices were dragged to multi-week lows on Friday amid worries returning supplies from Libya and Nigeria would add to the global supply glut.Concerns over growing supplies remain a bugbear on sentiment as U.S. crude production continues to rise.U.S. drillers added oil rigs for an 11th week in the past 12, in the week to Sept. 16. Drillers added two oil rigs in the week to Sept. 16, bringing the total rig count up to 416, the most since February.U.S. gasoline futures opened 0.3 percent higher at $1.4659 per U.S. gallon after rising 2 percent on Friday because of outages on Colonial Pipeline's main gasoline line and in a key unit of BP Plc's refinery in Whiting, Indiana.
 U.S. Federal Reserve policymakers are set this week to again cut their forecasts for how high interest rates will need to go in an economy where output, productivity and inflation are growing at a slower pace than in past decades.</strongIt would be the fourth time in 15 months that the U.S. central bank has been forced to admit its estimate of this so-called neutral rate was too optimistic, raising questions about the health of the economy in the coming years.The Fed, however, still insists low interest rates and its large balance sheet of bonds are sufficient to continue bolstering economic growth.Conversations with Fed officials suggest some will cut their predictions for the longer-run rate at this week's monetary policy meeting, with the median forecast possibly falling to 2.75 percent. It was 3.75 percent in June 2015 and 4.25 percent four years ago.The Fed is expected to leave its benchmark overnight interest rate unchanged following its two-day meeting on Wednesday, according to a Reuters poll of economists.The Fed's policy rate has been about 0.38 percent since it was raised in December, the first increase in nearly a decade.The expected reduction in the longer-run neutral rate forecast amounts to a lower speed limit on future rate hikes, and points to fewer increases with longer gaps between them than U.S. central bankers and investors had expected.The lower the neutral rate forecast, the less anxious the Fed needs to be about tightening policy, which would justify its repeated decisions to defer rate increases.The result, says San Francisco Fed President John Williams, will be the "shallowest" set of rate hikes ever; "much flatter," according to Dallas Fed President Robert Kaplan in a separate conversation, than anything in the past.The Fed has not raised rates this year despite signaling in December that four rate hikes were coming in 2016. That number has since been scaled back to two hikes this year, with another three hikes in 2017, due to a global growth slowdown, financial market volatility and tepid U.S. inflation.But given the new thinking on the neutral rate, that seems overly optimistic.Fed policymakers say an aging U.S. population and decline in productivity growth is sapping economic potential, making them wary about raising rates too fast."They are not very far from being in a tightening mode," said Shehriyar Antia, founder of Macro Insight Group and a former senior analyst at the New York Fed. "That augers for more patience since the risk of you falling behind with inflation is less because it ain't going to take that much for rates to lean on inflation."FED TOOLBOXRegardless of any reduction in the neutral rate estimate this week, Fed Chair Janet Yellen is likely to stick with her view that the central bank's so-called toolbox - its more than $4 trillion in Treasuries and mortgage-backed securities, low interest rates and planned gradual removal of stimulus - is appropriate for an economy that has consistently fallen short of growth forecasts.During the global central banking conference last month in Jackson Hole, Wyoming, Yellen said that policy mix had served the Fed well and would likely be useful in the face of a future economic downturn.But the Fed's constant walk-backs have served to undercut some of the market's faith in the central bank. Traders of short-term rate futures, for instance, are now betting the Fed will not hike rates until early next year.Still, any cut to the Fed's neutral rate forecast does not mean it will never raise rates."They want to maintain market expectations for a rate hike in case they want to raise rates in December if conditions warrant one," said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.The Fed is due to release its policy statement at 2 p.m. EDT (1800 GMT) on Wednesday and Yellen will hold a press conference shortly after. The Fed's rate-setting committee will meet again in early November and mid-December.
 Minister for Ports and Shipping Mir Hasil Khan Bizenjo chaired a high level meeting to finalize the licensing requirements for starting domestic and international ferry service Pakistan on direction of the Prime Minister.</strongThe meeting was attended by representatives from ministries of Foreign Affairs, Defence, Interior and Narcotics Control, Federal Board of Revenue and Anti Narcotics Force, a press release said here.The Secretary Ports and Shipping Division explained the background of the proposal and a detailed briefing was given to participants on the licensing requirements of the ferry service.The minister highlighted that the private sector will be the main agent and beneficiary of the service which is intended for tourists overseas workers and businessmen.The ministry has kept the licensing requirements very simple to draw interest and attract private sector in the new sector.The government will be regulator and facilitator of the service.The ferry operator who will register ferry under Pakistani flag shall be exempted up to 2030 from payment of port charges and annual fee.The ferry operator under foreign flag will be granted 50%waiver on port charges up to 2030. The meeting decided to constitute a committee of focal persons from Ministries of Foreign Affairs, Defence, Interior and Port &amp; Shipping to examine the applications for grant of license and give recommendations to the DG(P&amp;S) Wing for grant of license or otherwise.After threadbare analysis of the draft licensing requirements and detailed discussion the meeting approved the proposed licensing requirement drafted by Ministry of Ports &amp; Shipping for grant of license for international and domestic ferry service with minor amendments.
 Export of fresh fruits from the country during first two months of current financial year registered an increase of 56.99 percent as compared to the corresponding period of last financial year.</strongAbout 74,297 metric tons of fresh fruit of different kinds worth US$ 61.586 million were exported during the period from July-August, 2016 as against the exports of same period of last year.The fruit exports from the country during July-August, 2015 were recorded at 49,036 million tons valuing US$ 39.230 million, according the data of Pakistan Bureau of Statistics.However, vegetable exports decreased by 43.11 percent during the period under review and it was recorded at 73,944 metric tons worth US$ 18.849 million as against the exports of 127,810 metric tons valuing US$ 33.131 million of same period of last financial year.In first two-months of current financial year, no quantity of leguminous vegetables (pulses) were export as compared to the same period of last year, it added.Meanwhile, wheat exports from the country witnessed 100 percent increase in first two months of current financial year as about 200 metric tons of wheat exported as against the exports of same period of last year.The country earned US$ 0.77 million by exporting the surplus wheat to different countries as the export of the commodity was recorded at zero level during first two month of last financial year.From July-August, 2016, exports of nuts, oil seed and kernals grew by 134.96 percent and 1,948 metric tons of above mention commodities were exported to earn US$ 3.468 million as compared to the exports of 1,080 metric tons valuing US$ 1.46 million of same period last year.It is worth mentioning here that food group exports from the country during first two months registered an decrease of 23.15 percent as it came down from US$ 514.218 million to US$ 395.188 million.On the other hand, import of the food group in the country swell by 15 percent as county spent US$ 883.348 million to fulfill the local needs of food items including milk, cream and milk food for infants, spices, tea soyabean and palm oil import.The import of the food group during first two months of last financial year was recorded at US$ 786.148 million.
 Iran has expressed its desire to be part of China Pakistan Economic Corridor (CPEC).</strongIranian President Dr. Hassan Rouhani held a meeting with Prime Minister Nawaz Sharif on the sidelines of the 71st UN General Assembly session.Both sides expressed satisfaction on the positive trajectory of bilateral ties between Pakistan and Iran. Rouhani lauded the vision of Nawaz Sharif for translating CPEC into a reality and expressed his desire to be part of the CPEC.They noted progress on Iran Pakistan gas pipeline and electricity import from Iran would help overcome Pakistan s energy shortages in the coming years. They shared the view that Gwadar and Chahbahar seaports would be instrumental in further promoting trade in the region.PM Nawaz apprised President Rouhani of Indian brutalities in Kashmir particularly in the past two months and stressed on the need for building unity and cohesion within the Muslim world. Our culture tradition and economy complement each other and Pakistan is seeking to increase the level of its cooperation with Tehran said Sharif.Rouhani expressed hope that the economic ties between both countries would strengthen. Iranian President said there is a need for defence cooperation between Iran and Pakistan. Iran has always tried to keep a border of security and friendship with Pakistan and a lot of progress has been in this regard Rouhani said.
 Finance Minister Ishaq Dar has taken notice of BahamasLeaks and instructed all the concerned departments to investigate into the fresh data of offshore companies.</strongA cache of leaked documents has named around 150 more Pakistanis linked with offshore companies in the Bahamas, a constellation of over 700 islands, located 12,900 kilometers away from Pakistan.The minister directed the Federal Board of Revenue (FBR), the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) to investigate into the matter and take action whoever found violating national laws and regulations without any fear.German newspaper S�ddeutsche Zeitung obtained the Bahamas data from a whistleblower and shared it with the International Consortium of Investigative Journalists (ICIJ) and its media partners.The investigative report, the world's second-largest financial scandal since the Panama leaks, reveals details of hundreds of secret offshore accounts of people from across the world.Out of 175,000 companies incorporated in Bahamas between 1959 and 2016, around 150 Pakistanis have been identified as directors of nearly 70 companies.The Bahamas is one of a handful of micro nations south of the United States, notes ICIJ, notorious for its confidentiality laws and reluctance to share information with foreign governments.Jibran Khan, the son of Muhammad Naseer Khan, who was the federal minister for health during the Musharraf era, has been named in the Bahamas leaks, former JI senator Professor Khursheed Ahmad has also been named as the director of a registered bank in Miami, Obaid Altaf Khanani, Samina Durrani (mother of Tehmina Durrani) and Karachi-based builder Mohsin Sheikhani are some of the names who are included in the list of persons who own offshore companies.Obaid Khanani is the son of Altaf Khanani, a money changer who is in the custody of authorities in USA on charges of financing terror.
 Some 15 km (9 miles) from the bustling port of Singapore, a rusting tanker as big as the world's largest aircraft carriers lies idle in a muddy estuary flanked by mangrove trees on the coast of southern Malaysia.</strongThe 340-metre (1,115 ft) "FPSO Opportunity", a hulking so-called Floating Production, Storage and Offloading (FPSO) vessel capable of drilling for oil in deep waters, is currently surplus to requirements along with scores of other rigs, tankers and support vessels in an era of cheap oil.The fleet of mothballed giant vessels anchored around Southeast Asian waters is the physical fallout of an oil downturn heading into its third year, and a stark reminder of how badly the industry miscalculated market conditions."There was a misguided focus? on scarcity in the supply side from the early 2000s," said David Fyfe, head of research at oil and commodity trading firm Gunvor."As an industry, they were complacent. They thought because cost was high, prices will remain high ... (but) then there was the advent of shale. Since that period, there is a realization that there is no scarcity of oil."The shale revolution turned the United States into one of the world's biggest oil producers, at a time when exporters in the Middle East and Russia were also pumping out record volumes, causing oil prices LCOc1 to more than halve since mid-2014 to under $50 per barrel.The FPSO Opportunity, which has been laid up for over two years, was built in 1972 and operated by Chevron CV.N and Australia's Woodside Petroleum (WPL.AX) before being taken over by a Bermuda-registered FPSO Opportunity Inc in 2011. The newest owner could not be reached for comment.NEW LANDSCAPEThe growing number of vessels anchored in the Johor river estuary is changing the landscape for the locals."I've been coming here to fish every day for 10 years, and never have there been more ships parked," said an angler named Aiman, sitting on an unused pipeline lying on the beach."It is quite intimidating to come here before dawn and to find, with the first rays of sun, another big ship has been parked here," he added, with his line dangling in the river.And it's not just Malaysia that has become the dumping ground for idled oil equipment.Across the Singapore Strait, in the bays of Indonesia's Batam island, over a hundred oil drilling and support vessels have been sitting idle for months, or even years.While laying up ships is legal and even provides profit to specialist mothballing companies, environmental groups say the growing number adds to the risk to flora and fauna."The idling oil tankers risk polluting the marine environment, which a sizable population of the riverine fishermen rely on for their living," said Vincent Chow, chairman of the Malaysian Nature Society in Johor, citing the threat of dissolving paint and potential leakage of heavy metals and fuel into the sea.strong>COST OF DOING NOTHING</strongThe armada of laid-up vessels shows how the shale boom caught the oil industry off guard and scuppered plans to drill for new fields.Energy consultancy Wood Mackenzie said global exploration spending halved in 2015, while BMI Research sees capital expenditure among oil producers suffering another sharp decline this year.Struggling drilling companies are paying to lay up rigs in the hope they will survive until demand picks up again.The cost depends on size and location, and whether they are in a so-called "hot lay-up", whereby equipment is kept operational so the vessel quickly returns to service, or "cold lay-up" whereby ships can be mothballed for years.Cold lay-up for a rig or large oil tanker costs $20,000 to $25,000 a month in Johor, said Balasubramanian Krishna, operations manager at Malaysian lay-up specialist Ocean Shipcare, while laying-up a small supply vessel costs $3,000 to $4,000 a month.Matti Bargfried, head of marketing at maritime software company CODie, said a lay-up time of several years could make re-commissioning lengthy and costly."The main concern here is preservation against humidity, leakage of chemicals and condition of the hull," he said.This means that some of the idled vessels may have to be scrapped in yards in countries such as India or Bangladesh, although shippers say the current cost of the journey may be more than their scrap value.
 Prime Minister Nawaz Sharif has stressed the need for early finalization of Free Trade Agreement (FTA) between Pakistan and Nepal.</strongNepalese Foreign Minister Dr. Prakash Sharen Mahat called on prime minister on the sidelines of the UN General Assembly session.Nawaz said the present bilateral trade volume of 135 million dollars needs to be enhanced. He said the two countries can increase cooperation in agriculture medicine and infrastructure development.Nepalese Foreign Minister said Pakistan is an important country of South Asia and his country wants to promote ties with Pakistan.
 State Bank of Pakistan (SBP) on Saturday announced its monetary policy for the next two months and kept the policy rate unchanged at 5.75 percent.</strongThe Monetary Policy Committee of the SBP after detailed deliberations, decided to maintain the policy rate at 5.75 percent.According to SBP, the year-on-year CPI inflation rose to 3.6 percent in August 2016 from 1.8 percent in August 2015, while the average inflation during the first two months of the current fiscal year was more than double the same period last year.
 Jang Media Group and Google have joined hands to bring Pakistan�s biggest online shopping festival (<a href="https://gosf.live/">GOSF.Live</a>). Starting from 28th Sept, it brings the most lucrative deals for everyone over the next three days.</strongMore than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website <a href="https://gosf.live/">www.gosf.live</a> has been launched and whoever wants to view the available deals can visit and subscribe to it.The <a href="https://gosf.live/">GOSF.Live</a> initiative is aimed at encouraging shoppers to adopt online shopping, and is focused on reaching out to online and offline buyers. The participating companies are offering exclusive deals for the online buyers.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.The interesting aspect of this globally acclaimed initiative is that everything is shared so that buyers can choose from them before they are available.So don�t wait for the 28th, just visit <a href="https://gosf.live/">www.gosf.live</a> now.
 Bank of America (BAC.N) is set to cut about two dozen investment banking (IB) jobs in Asia, including some top dealmakers starting this week, according to people familiar with the matter.</strongSome bankers handling clients coverage and deals will be let go, with cuts expected in Hong Kong, Singapore and Japan, BofA's big centres in Asia, the people said, adding that the total number of jobs cuts hasn't been finalised.A Hong Kong-based spokesman for Bank of America declined to comment. Sources declined to be identified as the information is not public.Bank of America's job cut plans comes after Reuters reported on Friday that Goldman Sachs (GS.N) is planning to cut almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region.
 Only a day has left for Pakistan�s biggest online shopping festival GOSF.Live, a joint venture of Jang Media Group and Google, to begin.</strongStarting from Wednesday September 28, it brings the most lucrative deals for everyone over the next three days.More than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website <span style="color: #0000ff;"><a href="http://www.gosf.live" style="color: #0000ff;">www.gosf.live</a></span> is now active and whoever wants to avail deals can visit and subscribe to it.The<span style="color: #000000; background-color: #ffffff;"> GOSF.Live</span> <span style="background-color: #ffffff;">initiative</span> is aimed at encouraging shoppers to adopt online shopping, and is focused on reaching out to online and offline buyers. The participating companies are offering exclusive deals for the online buyers.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.The interesting aspect of this globally acclaimed initiative is that everything is shared so that buyers can choose from them before they are available.So don�t wait for the 28th, just visit <span style="color: #0000ff; background-color: #ffffff;"><a href="http://www.gosf.live" style="color: #0000ff; background-color: #ffffff;">www.gosf.live</a></span> now.
//www.thenews.com.pk/assets/front/tiny_mce/source/Faisal-Bank-Shop-2T.jpg" style="width: 100%;" width="644"/strong>2. Shop with a list</strongNow that you have cut down the bulk in your wallet and put in a sleek card, you just need one other piece of paper, a good old shopping list. And yes, you may have the Notes function in your Iphone but trust us when we say this, putting pen to paper to make a list is the best way to keep track of what you want. When you have your list on your phone, you are bound to get distracted with notifications and end up buying what you don�t need. A list helps you stay on track and using a pen to tick off items is strangely therapeutic.strong>3. Buy in bulk</strongIt is best to buy items like toilet paper, milk and oil in bulk because these are fast consumed in your home. And with the rewards program on your credit card, you can be earning some major points on shopping in bulk. So make use of those reward points today.<br/><br/><img alt="" height="676" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/Faisal-Bank-Shop-3T.jpg" style="width: 100%;" width="676"/So there you have it, three simple ways to take the groan out of grocery shopping and make it enjoyable and fun. Happy shopping!
 Only a few hours left for Pakistan�s biggest online shopping festival GOSF.Live, a joint venture of Jang Media Group and Google, to begin.</strongStarting from tomorrow (Wednesday) September 28, it brings the most lucrative deals for everyone over the next three days.More than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website <span style="color: #3366ff;"><a href="http://www.gosf.live" style="color: #3366ff;">www.gosf.live</a></span> is now active and whoever wants to avail deals can visit and subscribe to it.The GOSF.Live initiative is aimed at encouraging shoppers to adopt online shopping, and is focused on reaching out to online and offline buyers. The participating companies are offering exclusive deals for the online buyers.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.The interesting aspect of this globally acclaimed initiative is that everything is shared so that buyers can choose from them before they are available.So don�t wait for the 28th, just visit <span style="color: #3366ff;"><a href="http://www.gosf.live" style="color: #3366ff;">www.gosf.live</a></span> now.
strong>Global trade volumes are set to grow by just 1.7 percent this year, the first time in 15 years that international commerce has grown more slowly than the world economy, the World Trade Organization said on Tuesday.</strongThe forecast, much lower than the WTO's previous estimate of 2.8 percent in April, reflects a slowdown in China and Brazil and also decelerating imports in the United States.The WTO also expects slower 2017 trade growth than its previous forecast, with a rise of 1.8-3.1 percent rather than the 3.6 percent it had estimated in April.
 Pakistan Tehreek-e-Insaf MPA Khurram Sherzaman has submitted a resolution against K-Electric's overbilling and load-shedding issues in the Sindh Assembly.</strongThe resolution asked Sindh government to take action against the power utility for overcharging it�s consumers through overbilling. This act of the company has put extra financial burden on the masses, it said.Sindh government must take up these problems with the federal government, the motion demanded.
 India will accelerate its building of new hydropower plants along three rivers that flow into Pakistan, a source familiar with the plan said on Monday, in a move likely to aggravate already tense relations with its neighbour a week after an attack on an Indian army base.</strongDisagreements over how to share the waters of the Indus and other rivers have dogged relations between the nuclear-armed arch-rivals since independence in 1947.The dispute looks set to be reignited after Prime Minister Narendra Modi told officials on Monday that India should use more of the rivers' resources, speaking a week after the Sept. 18 attack on an army base in the disputed region of Kashmir that New Delhi blames on Pakistan, a source with knowledge of the meeting attended by Modi said.India has vowed to respond to the raid, in which at least 18 of its soldiers were killed, but any military option risks escalation. Some officials have called for a renewed diplomatic offensive instead.Modi said on Saturday that India would mount a global campaign to isolate Pakistan, including through the United Nations, where Foreign Minister Sushma Swaraj spoke on Monday.India has long accused Pakistan of backing militant groups operating in the Himalayan state of Jammu and Kashmir, through which several of the countries' shared rivers flow.Pakistan denies the allegations and says India has not provided adequate proof to support its claims. A spokesman for Pakistan's foreign office did not immediately respond to a request for comment about Modi's hydropower plans.At Monday's meeting, Modi and officials discussed ways to increase exploitation of the Chenab, Jhelum and Indus rivers but said they would not violate a long-standing water treaty between the countries in the process."We want to see that all these (hydropower) projects are put on a really fast-track basis," the source told Reuters, speaking on the condition he was not named because of the sensitivity of the meeting."Our entire approach was done to create an atmosphere of goodwill. But in this atmosphere, we want to exploit all our rights under the (Indus Water) treaty," the source said.The Indus Water Treaty was signed in 1960 in a bid to resolve disputes, but India's ambitious irrigation plans and construction of thousands of upstream dams has continued to annoy Pakistan, which depends on snow-fed Himalayan rivers for everything from drinking water to agriculture.India says its use of upstream water is strictly in line with the 1960 agreement.The potential for a military conflict between India and Pakistan over water has long worried observers.The neighbours have fought two of their three wars over Kashmir.India currently generates about 3,000 megawatts of energy from hydropower plants along rivers in its portion of Kashmir, but believes the region has the potential to produce 18,000 megawatts, the source said.New Delhi will also review whether to restart construction of the Tulbul navigation project, which was suspended several years ago. The project proposes diverting water from one of the shared rivers to a city in Indian-administered Kashmir that could impact flows downstream, the source said.�A spokesman for Modi's office declined to comment.
 Abu Dhabi Ports has awarded China�s Cosco Shipping a 35-year concession to build and operate a new container terminal at Khalifa Port, the chief executive of the Abu Dhabi company told Reuters on Wednesday.</strongThe terminal is expected to be operational in the first quarter of 2018, Mohamed Juma al-Shamisi said.It will have a capacity of 2.4 million twenty foot equivalent units (TEUs), with an option to increase that to 3.5 million TEUs, Shamisi added without giving a value for the investment.Abu Dhabi Ports is an Abu Dhabi government-owned company that runs Khalifa Port and the Khalifa Industrial Zone.
 Now you can avail up to 72 percent discount on over 500 brands with Pakistan�s biggest online shopping festival, just log onto <a href="https://gosf.live/">GOSF.Live</a>.</strongStarting today, festival brings the most lucrative deals for everyone over the next three days.More than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website <a href="https://gosf.live/">www.gosf.live</a> is active and whoever wants to avail deals can visit and subscribe to it.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.The interesting aspect of this globally acclaimed initiative is that everything is shared so that buyers can choose from them before they are available.
 The number of foreigners visiting Turkey plummeted nearly 38 percent in August, with tourism battered by the July failed coup and security concerns after attacks, statistics showed Thursday.</strongThe figures are the first to show visitor numbers for a full month after the attempted putsch which saw a rogue military faction try to oust President Recep Tayyip Erdogan from power and attempt to seize Istanbul�s main international airport.Some 3.18 million visitors came to Turkey in August this year, down 37.96 percent on August 2015, the tourism ministry said in its latest release.June saw the sharpest drop of 40.86 percent compared with the previous year, while in July, the number of arrivals fell by 36.72 percent.The tourism industry had already been hit before the coup by a string of attacks this year including the triple suicide bombing at Istanbul�s main airport in June which left 47 dead and was blamed on the Islamic State group.Last month, 57 people including 34 children were killed in a suicide bombing during a Kurdish wedding in the southern city of Gaziantep. IS was again blamed by Turkish authorities.The tourism industry last year was worth $35.1 billion in revenues and it accounts for 4.4 percent of GDP in Turkey.Despite normalising ties with Moscow in June and the lifting of travel sanctions this summer, visitor numbers to Turkey from Russia fell 83.63 percent last month compared with the previous year.In August 2015, the overall number of Russian visitors was nearly 640,000 but this year�s figure for August was under 105,000, in a devastating blow to tourism on Turkey�s Mediterranean coast.However, the resumption of charter flights to Turkish resorts at the start of September could see a welcome rise in Russian visitors.Arrivals in August from the key tourism market of Germany were down 34.5 percent while arrivals from Iran -- an increasing source of tourism -- fell almost 32 percent.Saudi Arabia was the only key tourism market to see any growth with visitor numbers from the kingdom reversing the trend and doubling in August 2015.In its latest trading update Tuesday, British travel operator Thomas Cook Group said that there was strong demand for most destinations except Turkey.The operator saw a four percent slump in bookings because of Turkey where "demand continues to be volatile", Peter Fankhauser, the group�s chief executive, said in a statement.
 Pakistan�s biggest online festival GOSF.Live received overwhelming response on the second consecutive day Thursday as all the deals were sold out.</strongLarge number of buyers thronged to get the deals from GOSF.Live, where up to 80 percent discounts on over 500 brands is being given. Many attractive deals still to come on Friday, the last day of the festival.The festival, a joint venture of Jang Media Group and Google, has not only received great response from the masses it has also given boost to the national economy. It generated many employment opportunities as well.Talking to The News, some brand managers said the festival has attracted major investment.More than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website www.gosf.live is active and whoever wants to avail deals can visit and subscribe to it.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.�
 Indian stock markets slumped almost two percent on Thursday after the army claimed it had conducted "surgical strikes" along the de-facto border with Pakistan.The Bombay Stock Exchange slid 534.70 points, or 1.84 percent, to 27,770.32 in afternoon trade after India said it had carried out the strikes to thwart attacks on some of its biggest cities.India�s National Stock Exchange slid 1.75 percent, or 152 points, to 8,592.25.Across the border, the benchmark Pakistan Stock Exchange fell 0.37 percent, or 147 points, to 40,207 following the border strikes, reversing early gains of some 500 points on OPEC�s decision to cut oil output."Panic gripped investors over the uncertain conditions on the Indian border and they pulled out from the market," said Azam Khan, chief executive officer of Sunrise Capital Private Limited.Lieutenant General Ranbir Singh, India�s director-general of military operations, claimed the strikes had been carried out along the unofficial border that divides the disputed territory on Wednesday night, provoking a furious reaction from Pakistan.Pakistan�s military said two of its soldiers had been killed in what it called "cross-border fire" while Prime Minister Nawaz Sharif condemned what he called India�s "naked aggression".
 Indian shares, bonds and the rupee fell sharply on Thursday after India claimed to have attacked suspected militants in Pakistan, raising political tensions just days before the central bank is set to hold a policy review.</strongInvestors had already been growing cautious ahead of the Reserve Bank of India�s policy review on Tuesday.The broader NSE index was down 1.5 percent after falling as much 2.07 percent.Benchmark 10-year bond yields were up 8 basis points at 7.00 percent from its previous close while the rupee weakened to 66.80/81 from its close of 66.46 on Wednesday.
 OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.</strong"OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," said Iranian Oil Minister Bijan Zanganeh, who had repeatedly clashed with Saudi Arabia during previous meetings.He and other ministers said the Organization of the Petroleum Exporting Countries would reduce output to a range of 32.5-33.0 million barrels per day. OPEC estimates its current output at 33.24 million bpd."We have decided to decrease the production around 700,000 bpd," Zanganeh said.The move would effectively re-establish OPEC production ceilings abandoned a year ago.However, how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extended to non-OPEC countries such as Russia.Oil prices LCOc1 jumped more than 5 percent to trade above $48 per barrel as of 2015 GMT. Many traders said they were impressed OPEC had managed to reach a compromise after years of wrangling but others said they wanted to see the details."This is the first OPEC deal in eight years! The cartel proved that it still matters even in the age of shale! This is the end of the �production war' and OPEC claims victory," said Phil Flynn, senior energy analyst at Price Futures Group.Jeff Quigley, director of energy markets at Houston-based Stratas Advisors, said the market had yet to discover who would produce what: "I want to hear from the mouth of the Iranian oil minister that he�s not going to go back to pre-sanction levels. For the Saudis, it just goes against the conventional wisdom of what they�ve been saying.".Saudi Energy Minister Khalid al-Falih said on Tuesday that Iran, Nigeria and Libya would be allowed to produce "at maximum levels that make sense" as part of any output limits.That represents a strategy shift for Riyadh, which had said it would reduce output to ease a global glut only if every other OPEC and non-OPEC producer followed suit. Iran has argued it should be exempt from such limits as its production recovers after the lifting of EU sanctions earlier this year.The Saudi and Iranian economies depend heavily on oil but in a post-sanctions environment, Iran is suffering less pressure from the halving in crude prices since 2014 and its economy could expand by almost 4 percent this year, according to the International Monetary Fund.Riyadh, on the other hand, faces a second year of budget deficits after a record gap of $98 billion last year, a stagnating economy and is being forced to cut the salaries of government employees.strong>OIL PRICE PRESSURES</strongSaudi Arabia is by far the largest OPEC producer with output of more than 10.7 million bpd, on par with Russia and the United States. Together, the three largest global producers extract a third of the world's oil.Iran's production has been stagnant at 3.6 million bpd in the past three months, close to pre-sanctions levels although Tehran says it wants to ramp up output to more than 4 million bpd when foreign investments in its fields kick in.Saudi oil revenue has halved over the past two years, forcing Riyadh to liquidate billions of dollars of overseas assets every month to pay bills and cut domestic fuel and utility subsidies last year."The Iranians have lived with a very tough macro backdrop for many years..." said Raza Agha, chief Middle East economist at investment bank VTB Capital. "So a sustained drop in oil prices has a more difficult social impact on Saudi."However, with unemployment in double digits, Tehran is also facing calls to maximize oil revenues and President Hassan Rouhani is under pressure from conservative opponents to deliver a faster economic recovery.Oil prices are well below the budget requirements of most OPEC nations. But attempts to reach an output deal have also been complicated by political rivalry between Iran and Saudi Arabia, which are fighting several proxy-wars in the Middle East, including in Syria and Yemen.OPEC sources have said Saudi Arabia offered to reduce its output from summer peaks of 10.7 million bpd to around 10.2 million if Iran agreed to freeze production at around current levels of 3.6-3.7 million bpd.Riyadh has raised production in recent years to compete for market share while Iran's output was limited by sanctions. Minister Zanganeh has said Iran wanted an output cap of close to 4 million bpd. Saudi output drops in winter when it needs less fuel than during summer, when cooling requirements spike.
 Indian Prime Minister Narendra Modi has convened a meeting today to review �Most Favourite Nation� status given to Pakistan in 1996, in a bid to harm Pakistan�s interests.</strongAmid rising tensions between the two countries, Indian government is desperate to hurt Pakistan in any way possible.Earlier this week, Narendra Modi chaired a high-level meeting to mull options for revoking Indus Water Treaty (IWT) and stop our share of water guaranteed under the agreement.Indian PM Modi is scheduled to meet officials from the ministries of external affairs and commerce and industry to weigh India's options on withdrawing MFN status to Pakistan.It is pertinent to mention here that this status does not grant any special treatment to Pakistan.Experts are of the view that withdrawing MFN status will not affect Pakistan trade in fact it would harm Indian traders.Contrary to what is believed by Modi administration, it is in India�s benefit to grant MFN status to Pakistan. In FY 2016, Indian imports from Pakistan were worth USD 400 million against exports of USD 1.8 billion.
 Pakistan�s biggest online festival giving up to 80 percent discounts on over 500 brands continues with many attractive deals still to come, just log onto <a href="https://gosf.live/">GOSF.Live</a>.</strongMore than 50 partners, including leading e-commerce, local and online vendors, brands, retail outlets, FMCG, CPG and BFSI, are offering their best deals to customers all across Pakistan and globally for the Pakistani Diaspora for 72 hours.The website <a href="https://gosf.live/">www.gosf.live</a> is active and whoever wants to avail deals can visit and subscribe to it.The festival is offering participants an opportunity to shop for jewelry, shoes, apparel, travel, books, kids wear, gadgets, watches, computer accessories, health &amp; fitness equipment, home decor products, great deals in a host of categories by 50+ e-commerce and industry players.
 Oil prices surged Thursday after the OPEC producers� group surprised the market with a deal to slash output.</strongAt the end of six hours of negotiations and weeks of horse trading, OPEC announced the plan to cut production to a level of 32.5-33 million barrels per day (bpd) from 33.47 billion, bpd in August, the International Energy Agency (IEA) said.The informal meeting was held on the sidelines of an IEA meeting in a bid to stabilise prices that have been battered by a stubborn supply glut since 2014.Oil prices soared by as much as six percent following the news and extended gains in Asian trade on Thursday although at a slower pace.At around 0100 GMT, US benchmark West Texas Intermediate (WTI) for delivery in November was up 23 cents to $47.29 and Brent crude for November added 22 cents to $48.91 a barrel.The decision to cut output caught the market offguard.Market watchers had been pessimistic about a cut or a freeze after similar efforts fell apart in April due to disagreements between OPEC majors Saudi Arabia and Iran.Angus Nicholson, a Melbourne-based analyst with IG Markets said the OPEC decision was the main impetus for the price surge but said details of the deal "sound a bit fuzzy at the moment"."There is the possibility that OPEC managed to commit to a weak deal at this meeting that may pave the way for a more comprehensive production cut at the November meeting," he said in a note, referring to OPEC�s formal meeting on November 30."A more comprehensive deal from OPEC and Russia at the November meeting would easily clear the way for WTI oil to trade around US$55."Nicholson also said official data showing a fall in the weekly US commercial crude inventories helped to boost the market.The US Energy Information Administration said Wednesday that crude stocks in the world�s top oil consumer fell by 1.9 million barrels, confounding expectations for a rise of three million barrels.A decline in crude stocks signals stronger consumption and is positive for oil prices."This has now been four straight weeks of back-to-back declines in crude oil inventories, which is also very supportive of the spot price," Nicholson said.
 The government has decided to keep petroleum product prices unchanged for the month of October.</strongFederal Minister for Finance Senator Ishaq Dar on Friday rejected the summery forwarded by Oil and Gas Regulatory Authority seeking increase in the prices.The regulatory body had called for an increase in prices of four petroleum products.
 Left arm fast bowler Mohammad Amir, who was banned for five years from International cricket in spot-fixing case, has returned to the national squad announced for upcoming New Zealand tour.</strongMohammad Amir has been included in One-Day International and Twenty20 squads.Chief selector Haroon Rasheed announced that Mohammad Amir, Ahmed Shahzad, Mohammad Hafeez, Sohaib Maqsood, Shahid Afridi, Emad Wasim, Anwar Ali, Amir Yamin, Sarfaraz Ahmed, Wahab Riaz, Umar Gul, Mohammad Rizwan, and Saad Nasim will be part of the T20 team.The ODI squad comprises Ahmed Shahzad, Azhar Ali, Mohammad Hafeez, Shoaib Malik, Asad Shafiq, Babar Azam, Sohaib Maqsood, Zafar Gohar, Emad Wasim, Anwar Ali, Sarfaraz Ahmed, Wahab Riaz, Rahat Ali, Mohammad Irfan, Mohammad Rizwan, and Mohammad Amir.Rasheed said that Amir's case has been forwarded to the New Zealand consulate and that his visa process will begin after the New Year's holidays.Amir, 23, resumed his career in March playing grade two cricket in Pakistan, after the ICC allowed his early return to cricket. He moved onto grade one and caught further attention in the Bangladesh Premier League where he picked up 14 wickets in nine matches at an average of 12.64.
 Australia look set to field two specialist spinners at the Sydney Cricket Ground (SCG) for the first time in a decade when they host West Indies in a dead rubber New Year�s test starting this weekend.</strongAn inexperienced and demoralised West Indies touring party succumbed by an innings and 212 runs in Hobart and 177 runs in Melbourne to hand their hosts an unassailable 2-0 lead in the three-match series.That position, and the likelihood of a turning wicket at the SCG, have encouraged Australia to test out the twin spin option of Nathan Lyon and Stephen O�Keefe ahead of their tour of Sri Lanka later this year.That the hosts can afford to put out an experimental side in one of the more venerable fixtures in the Australian sporting calendar is not to say there will be nothing at stake when the match gets underway on Sunday (1030 GMT).For West Indies there is pride and a chance to show more of the fighting spirit that stalled Australia�s victory match in the Boxing Day test in Melbourne last weekend.A 3-0 sweep, meanwhile, would send Australia above India to second in the test rankings and they would return to the summit if England can maintain a winning start and beat South Africa in their ongoing four-match series.Off-spinner Lyon is one of the first names on the Australian team sheet these days and he looks like being joined by left-arm finger spinner O�Keefe in the Australian line-up.That was made all the more likely when seamer Peter Siddle failed to train on Friday because of an ankle injury, leaving his place in the team in jeopardy.O�Keefe�s inclusion for his second test -- his first on home soil -- would make it the first time Australia have played twin spinners at the SCG since Shane Warne and Stuart MacGill took on South Africa at the ground in 2006.Josh Hazlewood is likely to back up for a sixth straight test alongside James Pattinson in the pace attack with all-rounder Mitchell Marsh offering support with his quickening medium pace deliveries after taking 4-61 in Melbourne.While Darren Bravo, Denesh Ramdin and skipper Jason Holder showed some resistance with the bat in Melbourne, the paucity of the West Indies bowling is starkly illustrated by the fact that they have taken just 10 wickets over the first two tests.Given how little pressure their pace attack have managed to exert on Australia so far in the series, West Indies might consider their own twin spin attack by bringing in leg-spinner Devendra Bishoo alongside left-arm orthodox Jomel Warrican.
 After picking up pretty much every individual honour on offer in a spectacular 2015, Australia captain Steve Smith has a more collective goal in his sights this year -- restoring his country to the top of the test rankings.</strongSmith finished his annus mirabilis as the world�s top ranked test batsman and won the ICC Cricketer and Test Cricketer of the Year awards as well as the Allan Border Medal as Australia�s best player.The 26-year-old scored a remarkable 2,369 runs across all three formats, rattling up 1,474 in tests alone at an average of 73.70 with six centuries.He was Australia�s highest run scorer as they secured a fifth 50-over World Cup triumph and he led the test side to series victories over India, New Zealand and West Indies.Even in the Ashes defeat to England, the one major blot on Australia�s copy book for the year, he scored his maiden double century to claim the Man of the Match award at Lord�s.Even before he was captain, though, Smith was always clear that team success came first.With Australia already 2-0 up in the three-match series, this week�s third test against West Indies might be a dead rubber but victory would send them above India into second place in the test rankings behind South Africa."It�s a huge motivation, that�s what we want to be, number one in all formats and we�re working extremely hard to get there," Smith told reporters on the eve of the match at the Sydney Cricket Ground (SCG) on Saturday."It would be nice to win this week and wrap this series up 3-0. It�s been a good summer for us so far, so we�d like to finish on a high."Defeat for South Africa in their ongoing series against England would then send Australia back to the summit but even if the English fail to build on their winning start, February�s two-test tour of New Zealand offers Smith�s side another chance.Australia beat the Black Caps 2-0 on home soil in November but the series was closer than the scoreline would suggest and Smith�s side, like many of the top test teams, have struggled to win series overseas in recent years."Playing away from home is a challenge for all teams around the world at the moment, I think that�s one of the big things we�re going to be judged on," Smith added."It�s going to be a big challenge in New Zealand, but I�m confident if we can continue playing the way we are, hopefully we can have a lot of success over there."Smith�s own form hit a minor blip when he was dismissed for 10 in Australia�s only innings in the first test against West Indies but the runs were flowing again in Melbourne last week after knocks of 134 and 70 without being dismissed."I felt pretty good last week, I guess it was good just to spend a little bit of time in the middle again," Smith said."All of my movement and my swing and everything was back in synch.I went back and looked at some footage before the Melbourne test and felt my bat face was a little bit closed."Last week I got my bat face back where I wanted it to be and everything felt really good, so hopefully I can score a few more this week.
 New Zealand captain Brendon McCullum on Sunday said tainted bowler Mohammad Amir should be given �the benefit of the doubt� and allowed to play for Pakistan in limited-overs matches in New Zealand this month.Amir has been named in the Pakistan squad which will play three Twenty20 and as many one-day games against New Zealand over the next three weeks but his participation depends on New Zealand immigration officials allowing him a visa.The fast bowler was only 18 when he handed a five-year ban from cricket in 2011 for his involvement in spot fixing.He also served three months of a six month prison term.His ban, imposed by the International Cricket Council (ICC), has now ended and McCullum said today he should be allowed to resume his career.�He was a very young man at the time and he's gone through a sound rehabilitation program,� McCullum said.�If he gets out on the field against us, then you play against the man you're playing against, not a man who may have made some mistakes as a youngster,� added the explosive batsman.New Zealand Cricket chief executive David White also supported Amir's inclusion in the Pakistan squad but stressed that was a personal view and not that of his organisation.�He was a very, very young man, a boy really (when he was suspended),� White said.�He showed remorse at the time, admitted to it. He's gone through all the rehabilitation and education as prescribed by the ICC.�I'm personally comfortable with him coming to New Zealand and playing,� added White.New Zealand's immigration department issued a statement before Christmas saying it had not yet received a visa application for Amir and would consider one when it is received.A decision is likely next week.
 Ben Stokes and Jonny Bairstow tore apart the South African bowling attack as they enjoyed a run feast at Newlands on a record-breaking second day of the second Test which led to England declaring their first innings on 629 for six.South Africa were 24 for one wicket in reply at tea with a 605-run deficit.Stokes amassed 258 runs and Bairstow an unbeaten 150 as they bludgeoned a limp-looking home attack from the opening ball on Sunday, setting a new sixth-wicket Test record of 399 runs.Stokes notched up the quickest 250 (off 196 balls) in Test history after scoring the second fastest double century (163 balls) in a knock that lasted 198 deliveries, which included 30 fours and a England record 11 sixes.Bairstow notched an emotional first test century, with England declaring once he got to 150 off 191 balls with 18 fours and two sixes.The pair took the overnight score from 317 for five in a remarkable one and half sessions of devastating batting before putting the dispirited-looking home side into bat.Stokes� double century took 10 balls more than New Zealand�s Nathan Astle, who holds the record for the fastest double century in 153 balls. England�s previous fastest was by Ian Botham who took 220 balls.In reaching 250 off 196 balls, Stokes beat Virender Sehwag�s record and also set the highest score by a batsman at number six, beating a 39-year-old mark held by Australian Doug Walters.England, already 1-0 up in the four-Test series after winning the first test in Durban by 241 runs, went from 300 to 400 in 15 overs and 400 to 500 runs in just 11 overs playing as if it was a Twenty20 match.They set the tone from the start of the second day with 45 runs in the first four overs as Stokes advanced from 74 not out overnight to his century.Bairstow started the day on 39.Stokes eventually went out in something of an anti-climax as he skied a shot to AB de Villiers, who dropped a simple-looking catch only to sweep up the ball and hit the stumps to run out the batsman as he ambled back to the crease.South Africa�s horror day did not end after the declaration with Stiaan van Zyl run out for four in the third over of their first innings, setting off for a quick run but being sent back by opening partner Dean Elgar.Elgar (8) and captain Hashim Amla (10) were not out at tea with Elgar surviving a leg before wicket decision after a review showed he got the slightest of edges to the ball. (Reuters)�
 Ben Stokes scored the second fastest double century in Tests and led a run feast on the second day of the second Test against South Africa by battering the home attack to take England to 513 for five wickets at lunch.Stokes (204 not out) and Jonny Bairstow, who was unbeaten on 95, bludgeoned a limp-looking home attack from the opening ball on Sunday, setting a new sixth-wicket record stand for England.The pair took the overnight score from 317 for five in a remarkable session that produced 196 runs in two hours of devastating batting.Stokes� double century came off 163 balls with 26 fours and seven sixes.New Zealand�s Nathan Astle holds the record for the fastest double century in 153 balls while England�s previous fastest was by Ian Botham who took 220 balls.Stokes now holds the record score for an England number six, beating Graham Hick�s 187 against India in 1993, and became the first English centurion at Newlands for 50 years.He produced an array of astonishing boundaries, bringing up his 200 by pulling Morne Morkel for a four and leaving the home side looking dispirited in the field on another hot day in Cape Town.England, already 1-0 up in the four-Test series after winning the first Test in Durban by 241 runs, went from 300 to 400 in 15 overs and 400 to 500 runs in just 11 overs.The tourists began Sunday�s play like they were playing a Twenty20 match with 45 runs in the first four overs as Stokes advanced from 74 not out overnight to his century and did not let up after that.Bairstow brought up his 50 soon after -- his fourth in five innings against South Africa -- as the pair picked up the pace with 102 runs in the first hour�s play.The South African bowling attack, without injured Dale Steyn and Vernon Philander, had their figures hammered with debutant Chris Morris going to lunch having conceded 141 runs for his single wicket.Kagiso Rabada was 3-123 and spinner Dane Piedt 0-112. Lead bowler Morne Morkel�s figures were 1-102. (Reuters)�
 Australia�s spinners Nathan Lyon and Stephen O�Keefe took key wickets between rain showers to peg West Indies back to 207 for six at the end of a weather-disrupted opening day of the dead rubber third Test on Sunday.More than two hours and 45 minutes of play were lost to rain in a stop-start day at the Sydney Cricket Ground, where the tourists fell away in the early evening gloom after winning the toss and making a solid start.Denesh Ramdin, unbeaten on 23, and Carlos Brathwaite (35 not out) will resume on day two if the forecast heavy rain stays away.The hosts had rolled the dice on the twin spin attack at the SCG for the first time in a decade and got their reward when Lyon and O�Keefe got plenty of turn off a straw-coloured wicket.Off-spinner Lyon (2-68) produced a stunning delivery that pitched wide and turned in to take the bail off Jermaine Blackwood�s off stump for 10 and returned after the second rain break to remove dangerman Kraigg Brathwaite for 85.Left-arm orthodox spinner O�Keefe (1-42) then pitched in to have West Indies captain Jason Holder caught superbly at short leg by Joe Burns and claim his first test wicket on Australian soil.Trailing 2-0 in the three-match series after thumping defeats in Hobart and Melbourne, West Indies had started the day by building on their improved batting performance in the second Test.After the early loss of opener Shai Hope (nine), Kraigg Brathwaite and Darren Bravo (33) looked in fine nick as they ushered the tourists to lunch at 92 for one.Australia�s bowlers emerged from the break re-energised, however, and James Pattinson got the breakthrough when Bravo�s miscued pull sent the ball flying to Usman Khawaja running in from the deep.That broke a 91-run partnership and brought Marlon Samuels to the crease looking to break his run of eight test innings without getting to the 20-run mark.He failed in farcical fashion looking for a quick single that always looked like a gamble, left stranded when Kraigg Brathwaite scuttled back to his crease as Peter Nevill broke the stumps.After a long glare at his partner, Samuels headed back to the pavilion with four runs to his name and the rest of the players and umpires followed in his wake as heavy rain came down on the ground.Kraigg Brathwaite had brought up his eighth test half-century just before lunch by clipping all-rounder Mitchell Marsh past long leg for two runs off the 78th ball he faced. He fell 15 runs shy off his fifth test century when Lyon got a little bit of extra bounce to a delivery which caught the opener�s glove and was snaffled up by Steve Smith at slip. (Reuters)�
 Captain Hashim Amla scored an unbeaten century on the third day of the second Test against England and AB de Villiers made 88 as South Africa reached tea on 290 for three on Monday.Amla scored his first hundred for more than a year and De Villiers reached 8,000 Test runs before he pulled a short ball from Steven Finn to James Anderson at mid-wicket just before the interval.South Africa trailed the touring side by 339 runs, 140 short of avoiding the follow-on, with Amla on 132 not out and Faf du Plessis on 15.Amla and De Villiers resumed on 141 for two and extended their partnership to 183, giving South Africa a foothold in the game after England declared on a massive total of 629 for six on a second day of record-breaking batting.The experienced pair played with much circumspection but did offer chances.<br/> Amla was twice dropped -- by Joe Root on 76 and Nick Compton on 120 -- and De Villiers survived an lbw appeal after asking for a review, which showed he got a slight nick to a Ben Stokes delivery.De Villiers became the third South African batsman to pass 8,000 runs while Amla, who last made a significant contribution with 208 runs against the West Indies in December 2014, moved past 7,000 runs.The 31-year-old De Villiers joined Jacques Kallis (13,206) and Graeme Smith (9,253) on the list of South Africans with more than 8,000 Test runs.England, 1-0 up in the series, bowled good lines and with spells of aggression on a pitch that offered little assistance and in hot temperatures of over 30 degrees celsius.The third day, however, provided none of the fireworks of Sunday when Stokes and Jonny Bairstow smashed the ball to all corners of the picturesque ground.<br/> (Reuters)�
 Carlos Brathwaite shone briefly for West Indies but the rain was the only real winner on Monday as wet weather washed away all but 11.2 overs of play on the second day of the third Test against Australia.West Indies were 248 for seven in their first innings when the rain interrupted play for the third and final time half an hour after lunch in the wake of Brathwaite�s dismissal for 69.Play was officially abandoned at 4:35 p.m.(0535 GMT) as the rain continued to cascade down on Sydney Cricket Ground with the 14,266 optimistic souls who came through the gates despite the gloomy forecast offered a full refund.That meant that the flurry of boundaries with which Brathwaite lit up the few overs of action was ultimately a free show and the 27-year-old was warmly applauded for it by an appreciative crowd.Resuming on 35 with his team on 207 for six, the tall, muscular Bajan showed why he has been one of the few bright spots for West Indies on what has otherwise been a miserable tour.Playing his second Test after scoring 59 on debut in Melbourne last week, Brathwaite smashed four sixes and seven fours in his 71-ball innings.One of the two sixes he hit in one over off Australia paceman James Pattinson was a spectacular heave over the covers and deep into the crowd.A fuming Pattinson had his revenge, however, when he found his range and took out Brathwaite�s off stump with what the batsman described as a "good nut"."I was upset that once again I got a start and couldn�t carry on. One of the main mantras in cricket is that when things are going good you maximize," Brathwaite said."Then reaching halfway off and hearing the applause -- I even saw some people standing -- I just took a step back and said �you know what, just enjoy the feeling�. I raised my bat and looked around and it was a very, very good feeling."Denesh Ramdin will resume on 30 not out for West Indies alongside Kemar Roach, who has yet to score, on day three.Only three balls were bowled in the first two hours of scheduled play and another 21 before lunch after the action resumed briefly at noon.Nearly three hours of play were lost to rain on day one of the match, a dead rubber after Australia racked up convincing victories in the first two Tests. (Reuters)�
 Pakistan�s fast bowler Mohamamd Amir, who has been selected for One-day International and Twenty20 for New Zealand series after five-year ban for spot-fixing, has said that he understood that it would be hard to win cricket community�s trust but hoped they would accept him again through his performance.</strongIn an interview, Mohamamd Amir said, he knows when people see him playing they would see good things and hoped they would accept him.Amir said he would love to bowl at Lord's again. �Fans - no matter where they are in Pakistan or England or wherever - were hurt, I know that and the most important goal is to win them all,� he said.The fast bowler went on to say that he was aware the process of regaining the trust of cricket community would be slow, and that he hoped to win it with his performance.
 Jonny Bairstow pumped his chest to the sky and wiped away a tear as he completed an emotional maiden test hundred for England against South Africa on Sunday, amid a record-breaking stand with Ben Stokes.</strongThe red-haired England wicketkeeper last year lost his grandfather, with whom he shared a close relationship, while his dad David, a former England cricketer, killed himself in 1998.�Obviously after everything that has gone on in the last year or so it�s fantastic to get over the line for me and my family,� he told reporters after finishing on 150 not out with his mother and sister watching on from the stands. �They have supported me all through my career. To have them here in Cape Town is lovely and it is my mum�s birthday on the last day of the test so hopefully we can cap off a great game. �It was probably the best day of my life and one I will never forget.�After being recalled to the England side during last year�s Ashes triumph over Australia, Bairstow's place in the team has come under scrutiny. "It has been a little while coming. There was a lot of talk here and there so I�m delighted to get over the line today,� he said.Stokes and Bairstow scored 399 in a record sixth-wicket stand as England declared on 629 for six on the second day of the second test at Newlands.It was a bludgeoning performance from Stokes, who scored a record-breaking 258 off 198 balls."It was an exhibition of stroke play," Bairstow said. "We just clicked in and supported each other all the way through. To play a knock like that is something quite spectacular.�I�ve grown up with Stokesy and seen him play some fantastic knocks and to witness that today was extremely special and something a lot of people will never forget.� England will seek to take an even firmer hold on the test on Monday by quickly dismissing South Africa, who closed on 141 for two."It will be a strong move from us if we can come back in the morning and take some chances," Bairstow said. �Our bowlers have a wealth of experience in all different conditions and hopefully we can come out tomorrow, utilise a bit of reverse swing, moisture in the pitch and we go from there."
 England grabbed three wickets in 23 balls to inject life back into the second Test but any hopes they had of skittling South Africa out were ended by Temba Bavuma on Tuesday.The young batsman scored an unbeaten 52 to take South Africa to 525 for six at tea on the fourth day, trailing England by 104 runs with four session left in the match.Chris Morris, making his debut, was unbeaten on 24 in an unbroken 76-run partnership.South Africa batted slowly in the morning as they chipped away at England�s massive first-innings score of 629 for six declared.Hashim Amla reached his double century before the new ball after lunch brought a breakthrough when Stuart Broad bowled the hosts� captain for 201.Faf du Plessis fell three balls later after making 86 off 216 balls, edging a low catch to Ben Stokes at third slip off the bowling of James Anderson.Quinton de Kock, back in the side after missing the last four Tests, fell for a trap set for him as he pulled a ball from Broad straight to Anderson at short square leg.Bavuma played an array of attacking strokes to race to his fifty off 52 balls with Morris playing a good supporting role.Amla effectively played his side back into the Test series with his patient innings which took almost 12 hours and included 27 fours.Dropped twice on Monday, an otherwise unflappable Amla betrayed nerves on 197, skying a shot and watching anxiously as Joe Root misjudged the ball and failed to get close to it.South Africa were 353 for three overnight and had made it clear they wanted to keep England in the field for much of the day again in baking-hot temperatures, well over 30 degrees Celsius.England lead the four-match series 1-0. (Reuters)�
 Pakistan Cricket Board (PCB) Chairman Shahryar Khan on Tuesday said Yasir Shah's family suffers from blood pressure disease and the leg-spinner consumed some of the medicine to control his blood pressure.<br/> <br/> Talking to newsmen here, the Chairman said PCB would appeal to the International Cricket Council (ICC) to show lenience in Yasir Shah's issue, adding that Muhammad Aamir would get visa for New Zelanad in a day or two.<br/> <br/> Expressing his concerns over cancellation of Australian team's visit to Bangladesh for Under-19 cricket world cup, Shahryar Khan said his sympathies are with Bangladesh Cricket Board and he would raise this issue in the ICC meeting.
 Captain Hashim Amla remained unbeaten after his third Test double century as South Africa moved closer to forcing a draw against England in the second Test at Newlands on Tuesday.Amla was 200 not out at lunch with Faf du Plessis (81) at the other end, guiding the hosts to 428 for three.The blooming 160-run partnership between them helped South Africa cut their deficit to 201 after England�s swashbuckling first innings total of 629-6 declared.Dropped twice on Monday, an otherwise unflappable Amla betrayed nerves on 197, skying a shot and watching anxiously as Joe Root misjudged the ball and failed to get close to it.Amla scrambled for two runs to go to 199 and brought up his double century off 461 balls in an innings that offers both him and South Africa much inspiration after 12 months of dismal Test cricket.South Africa had kept England in the field through the entire third day on Monday, losing just one wicket and looked determined to inflict more energy-sapping misery on the visitors on the fourth day.They started overnight on 353-3 and added 75 runs from 30 overs in the first session of the fourth day.England produced some lively overs early on Tuesday but then turned to off spin as they moved closer to taking the third new ball, which is available immediately after lunch.England did have a chance to catch du Plessis when he was on 61 but the edge flashed past James Anderson at first slip off the bowling of Moeen Ali.It was similar to the catch that Anderson had grassed on Monday when Amla got a thick edge to a delivery from Root.England are 1-0 ahead in the four-Test series. (Reuters)��
 Maharashtra schoolboy Pranav Dhanawade rewrote the record books on Tuesday, hammering an epic 1009 not out in an inter-school cricket tournament to register the highest individual score in an innings in any form of the game.</strongThe 15-year-old smashed 129 fours and clobbered 59 sixes in his staggering 323-ball knock played over two days before his team, KC Gandhi School, declared their innings on a staggering 1465 for two.An admirer of India's limited overs captain Mahendra Singh Dhoni, Dhanawade's monumental knock drew praise from batting great Sachin Tendulkar."Congrats #PranavDhanawade on being the first ever to score 1000 runs in an innings. Well done and work hard. You need to scale new peaks!" tweeted the former India captain.Dhanawade, who opened the innings against Arya Gurukul School, had gone past Arthur Collins' 628 not out, the previous highest in minor cricket scored in 1899 in England, on Monday.The son of an autorickshaw driver, Dhanawade had also gone past the highest individual score by an Indian in minor cricket, a record previously held by Prithvi Shaw who scored 546 in the Harris Shield in 2013-14."I have always been a big-hitter," Dhanawade told the Hindustan Times after Monday's play."When I started I never thought about breaking the record. The focus was never that. I just played my natural game, which is to attack from the word go."After reaching 300, my coach Harish Sharma told me to play on. I did not know of the world record, but we had the Indian record (Shaw's 546) in mind."
 Australia have withdrawn from the under-19 World Cup in Bangladesh later this month because of concerns over the "safety and security" of the squad, Cricket Australia said in statement on Tuesday.</strongAustralia postponed a test tour of Bangladesh in October for similar reasons and Cricket Australia (CA) Chief Executive James Sutherland said the situation had not improved."Regrettably, the advice from our government suggests that the security threat to Australians travelling to Bangladesh remains as high now as it was when we postponed the test team�s tour of that country late last year," he said in the statement."In the end, with all of the information and advice we have received, we feel we had no alternative other than to make this difficult decision."
strong>Matt Henry took the second five-wicket haul of his career to bowl New Zealand to a 36-run victory over Sri Lanka in the fifth one-day international and seal a 3-1 series victory at Bay Oval in Mt. Maunganui on Tuesday.</strongHenry, who took four-wicket hauls in two other appearances in the series, finished with 5-40 as Sri Lanka captain Angelo Mathews had threatened to steal victory for his side.Mathews combined with his strong middle order to guide the run chase for 295 to snatch a draw in the series but when he was the eighth wicket to fall for 95, it effectively ended Sri Lanka�s chances and they were bowled out for 258 in 47.1 overs.Martin Guptill top-scored for New Zealand with 102 to give the hosts a competitive, though not daunting, total of 294 for five.New Zealand had ripped the top off Sri Lanka�s lineup to reduce them to 33 for three in the 10th over but Mathews and Dinesh Chandimal (50) produced a 93-run fourth-wicket partnership that was broken just as Chandimal reached his 15th half century.Mathews and Milinda Siriwardana (39) then put on 62 runs in 6.4 overs to take them to within 72 runs with nine overs remaining.The match then turned in the next three overs when Siriwardana and Chamara Kapugedara (10) were both dismissed, sending the required run rate over 10 and the chase effectively ended when Mathews became Henry�s fourth victim in the 46th over.While Guptill had top-scored in New Zealand�s innings, it was Kane Williamson and Ross Taylor, who both scored 61, played the anchor roles to allow the opener to score his 10th one-day international century.Guptill, the highest run scorer in one-dayers last year, hit nine boundaries and three sixes.He finished with 331 runs in the five-match series at an average of 82.75.Sri Lanka�s bowlers did an excellent job at the end of New Zealand�s innings by clamping down on their scoring rate that had threatened to push the score well past 300.The two sides now play two Twenty20 internationals, with the first at the same venue on Thursday.
 Rain washed out the whole of the third day of the third test between Australia and West Indies at the Sydney Cricket Ground on Tuesday.</strongThe covers stayed on the pitch all day as rain lashed down on the ground with play officially abandoned at 3:30 p.m (0430 GMT).It was a further disruption in the dead rubber contest after three hours of day one and all but 11.2 overs of day two were lost to wet weather.West Indies, already 2-0 down in the series after thumping defeats in Hobart and Melbourne, will have to wait until Wednesday to resume their first innings on 248 for seven.
 Poor weather brought a limp end to a compelling second Test as England survived a final day onslaught from South Africa to draw the match and keep up their 1-0 lead in the series.England were 159 for six in their second innings, with Jonny Bairstow (30) and Moeen Ali (10) unbeaten, before drizzle and bad light halted play soon after tea on Wednesday.South Africa�s quick bowlers made inroads in the morning to offer the likelihood of a remarkable come-from-behind victory after England had dominated the opening two days to amass 629 for six declared in their first innings.South Africa clawed back over the next two days, keeping England in the field on hot, energy-sapping days as they slowly regained a foothold and eventually declared just two runs short of the visitors� total.A four-wicket burst before lunch on Wednesday suddenly offered the tantalising possibility of a result and two more in the second session brought South Africa even closer to scuttling out England before chasing down a modest target.But dogged resistance from Bairstow and Ali, in an unbroken 43-run partnership, and the gloomy weather dashed South Africa�s hopes of pulling off a remarkable victory.England started the day on 16-0 in their second innings, with a lead of 18 runs, but captain Alastair Cook was strangled down the leg side and caught by wicketkeeper Quinton de Kock off Kagiso Rabada�s bowling with just the eighth ball of the morning.He went for eight with England having added a single to their overnight total.Alex Hales (5) was then snagged by a brilliant diving one-handed catch from Chris Morris at slip to give Morne Morkel a deserved wicket after some fiery bowling.Joe Root was caught in the slips by AB de Villiers off Morkel on 17 but television replays showed the bowler had stepped over the line.But England�s top-ranked batsman failed to capitalise on the reprieve and scored 12 more runs before being bowled by Morris to leave England on 55-3.Nick Compton (15) fell 10 minutes before lunch after playing straight to Faf du Plessis at short mid-wicket as he became the first of three victims for Dane Piedt.After the interval, the off spinner dismissed Ben Stokes, caught at deep square leg for 26, and James Taylor, who got a nasty bounce up onto his gloves and was caught by Temba Bavuma at short leg for 27.The third Test will be at the Wanderers in Johannesburg from Jan.14-18. England won the first Test in Durban by 241 runs. (Reuters)�
 Off-spinner Dane Piedt raised hopes of an unlikely South African victory as he grabbed three wickets on Wednesday to leave England on 155 for six at tea on the final day of the high-scoring second Test.Just when it seemed that the match was heading for a draw, Piedt raised prospects of an unexpected victory after claiming the wickets of Nick Compton, first innings double centurion Ben Stokes and James Taylor which left England with a 157-run lead going into the final session.Jonny Bairstow (26 not out) and Moeen Ali (10 not out) frustrated South Africa�s efforts to skittle England out cheaply in their second innings and set themselves a reachable target before close of play on Wednesday.Cloud cover over Newlands offered bowlers the swing that had been missing over the previous four, searingly-hot days and helped South Africa to claim quick wickets to spice up the game.England�s batsmen looked short on confidence as a little moisture in the air and an absence of wind presented bowlers with a window of opportunity.England started the day on 16-0 in their second innings, having an 18-run lead over South Africa after both posted high-scoring totals in the first innings.Cook (8) was strangled down the leg side and caught by wicketkeeper Quinton de Kock off Kagiso Rabada�s bowling on the eighth ball of the morning with England having added a single to their overnight total.Alex Hales (5) was snagged by a brilliant diving one-handed catch from Chris Morris at slip to give Morne Morkel a deserved wicket after some fiery bowling.Joe Root was caught in the slips by AB de Villiers off Morkel on 17 but television replays showed the bowler had stepped over the line.But England�s top-ranked batsman failed to capitalise on the reprieve and scored 12 more runs before being bowled by Morris to leave England on 55-3.Compton fell 10 minutes before lunch as he played straight to Faf du Plessis at short mid-wicket and was out after a tentative 15.After lunch, Piedt dismissed Stokes, caught at deep square leg for 26, and Taylor, who got a nasty bounce up onto his gloves and was caught by Temba Bavuma at short leg for 27.England had looked set to win a second successive Test when they went on a run-scoring riot on Sunday to shatter several records in amassing 629 for six declared.But South Africa batted themselves back into the game over three days eventually declaring on 627-7 some 30 minutes before the end of Tuesday�s play and then sparking hopes of victory with an attacking bowling display on Wednesday. (Reuters)�
 Hashim Amla said on Wednesday he was stepping aside as South Africa�s cricket test captain with immediate effect, a day after a double century rescued his country from possible defeat in the second test against England.�The 32-year-old made the surprise announcement just minutes after the test at Newlands ended in a draw and after Amla had led a fight back to haul his team from a precarious position.
 Shahid Afridi on Wednesday complained that media blows insignificant issues completely out of proportion and then airs them as breaking news.</strongShahid Afridi was criticized for lashing out at a journalist when he was questioned about the team�s performance under his captaincy. Khan replied, �I was expecting such a cheap question from you.�The journalists took exception to Afridi's remarks and boycotted the press conference.Later, speaking in the Geo News program �Report Card�, Shahid Afridi clarified his earlier remarks, saying a certain journalist had been targeting him for sometime.Shahid Afirid said the reporter had spread 'false news' in Dubai that he (Afridi) asked a junior player to wipe his shoes. "I didn't ask any junior player to clean my shoes but it was a youngster who insisted on it and took my shoes for cleaning," he added.Afridi claimed the reporter has been using �inappropriate language� and that he (Afridi) even filed a complaint against him.He said only two-three months of his cricket career are left and he needs media's support.strong>PCB Chief says Afridi�s Urdu isn�t good</strongPakistan Cricket Board (PCB) Chairman, Shahryar Khan defended Shahid Afridi, saying his Urdu is not good and asked everyone to ignore his remarks.Talking to media persons, he said he did not know what about the exact words of Shahid Afridi�s remarks and why he had to utter them.He said he would go back to Lahore and get the issue investigated.
 Heavy rain washed out play in the third Test between Australia and West Indies for the second successive day on Wednesday, further reducing the already slim chance of a result in the dead rubber match.The rainfall, which had prevented any action on day three and all but 11 overs on day two at the Sydney Cricket Ground (SCG), continued unabated into the fourth day of the contest and play was officially abandoned just before 1 p.m. (0200 GMT).West Indies, already 2-0 down in the series after thumping defeats in Hobart and Melbourne, were waiting to resume their first innings on 248 for seven.(Reuters)�
 Tiny Temba Bavuma scored his maiden Test century for South Africa on Tuesday and suggested English sledging helped him reaching the landmark.The 25-year-old was 102 not out when the hosts declared on 627 for seven late on the fourth day as the second Test headed for a draw.The cheers that greeted the milestone, which came after an entertaining knock of just 141 balls, raised the roof at Newlands."They were words of encouragement if I can put it politely. The (English) guys did say a lot but I think it was all in the spirit of the game," Bavuma told reporters."Maybe it assisted me to knuckle down out there. I kind of enjoyed it.<br/> It was almost like being back at school where guys used to come hard at me because I was short."Standing five foot six inches tall, Bavuma is playing his seventh Test and his innings will be a major boost for South African cricket as the authorities try to ensure the racial make-up of the team is more reflective of the country�s society."I am quite relieved, full of emotion and very satisfied from a personal and team point of view," Bavuma said."I�ve been wanting to cross off that first test hundred and to do it at my favourite ground was extra special."Bavuma was born not far from Newlands in the black African township of Langa."I think pressure is always there and as young guy I�m at start of my international carer and I really want to make use of the chances I�ve been given as well as make a mark for myself," he said.His parents missed his debut against the West Indies at the same ground one year ago but flew in from their holiday to watch him this time."I�m sure that moment was full of emotion for them too," he said.Bavuma, 25, waited for almost six hours before getting his chance as captain Hashim Amla and Faf du Plessis batted South Africa out of danger in a marathon partnership."I slept a bit on the balcony for some of those hours and I just tried to keep clam and wait for my opportunity and enjoy the success of the guys out there," he said. (Reuters)�
 Pakistan Twenty20 skipper Shahid Khan Afridi on Wednesday lashed out at a journalist when he was questioned about the team�s performance under his captaincy.</strongAfridi was talking to media when a reporter raised a question about performance of the T20 skipper and the team under his captaincy.Khan replied, �I was expecting such a cheap question from you.�Later, journalists protested over Afridi�s remarks and boycotted the press conference.Meanwhile, the all-rounder also criticized Salman Butt and Mohammad Asif, saying that they lied on TV shows.However, Afridi again extended support to Mohammad Amir, saying that he has great potential and he has always respected him. He said every person commits mistakes, but Amir spoke the truth and has completed his spot-fixing sentence.
 FIFA�s ethics watchdog on Wednesday extended the suspension of FIFA Secretary General Jerome Valcke, a day after its investigators had recommended an extension and that he also be banned from soccer for nine years over alleged corruption.</strong"The adjudicatory chamber of the ethics committee chaired by Mr Hans-Joachim Eckert has decided to extend the suspension of Mr Jerome Valcke by 45 days, at the request of the investigatory chamber," the ethics body for Zurich-based soccer body FIFA said in a statement."The extension of the suspension starts from today."
 Argentina and neighboring Uruguay will bid to co-host the 2030 World Cup, Argentine President Mauricio Macri said at a joint news conference on Thursday with Uruguayan leader Tabare Vazquez.�"We have decided that our best opportunity is to jointly nominate ourselves as candidates," Macri said during a visit to Colonia, Uruguay.�Uruguay hosted and won the first World Cup in 1930, beating Argentina 4-2 in the final.
 The rain-hit third test between Australia and West Indies ended in a draw on the fifth and final day at the Sydney Cricket Ground on Thursday, leaving the hosts with a 2-0 series victory.</strongA draw was always the most likely result after all but 11 overs of day two and the entirety of days three and four were washed out, only the fifth time no play had been possible on two consecutive days of a test match in Australia.West Indies resumed their first innings on 248 for seven and were bowled out for 330 to bring up lunch.David Warner scored an 82-ball century on his way to 122 not out to help Australia to 176 for two when the players shook hands on a draw.Australia won the first test in Hobart by an innings and 212 runs before an equally dominant 177-run victory in the second test in Melbourne.
 Fast bowler Mohammad Amir, who spent time in jail and served a five-year ban for spot-fixing, has been granted a visa to travel to New Zealand for Pakistan�s limited overs matches later this month, immigration officials said on Thursday.</strongThe 23-year-old was considered one of the most exciting fast bowlers in the world before the 2010 spot-fixing scandal that resulted in bans and jail sentences for him, former test captain Salman Butt and fast bowler Mohammad Asif.The trio were cleared to return to the sport by the International Cricket Council (ICC) in September after serving suspensions."Immigration New Zealand (INZ) can confirm that a visitor visa has been approved for Mohammad Amir to travel as part of the Pakistan Cricket Team set to tour New Zealand this month," INZ Area Manager Michael Carley said in a statement."In making this decision, INZ considered factors including the support of the New Zealand and Pakistan Cricket Board and that Mr Amir had served his sentence for his previous actions."Taking into account all the circumstances and with full understanding of the purpose of his visit, a visa has been approved for Mr Amir."The left-arm fast bowler�s inclusion in a 26-man training squad for the tour had caused some controversy within the Pakistan ranks, with one-day captain Azhar Ali offering to resign.The Pakistan Cricket Board rejected Azhar�s resignation, though another member of the team, Mohammad Hafeez, had also expressed reservations about playing with Amir.Pakistan play three Twenty20 internationals and three one-day matches on the tour, which starts on Jan.15.
 A local court of Anantapur, Andhra Pradesh has issued non-bailable arrest warrants for Indian Twenty20 skipper Mahindra Singh Dhoni, Indian media reported Friday.</strongThe arrest warrants were issued in connection with a petition filed by a social activist. He accused Dhoni of hurting Hindu sentiments after the cricketer was portrayed as the Hindu god Vishnu on a magazine cover.The picture carried the subtitle �God of Big Deals� with the cricket star holding products of several brands including a shoe.The Court has summoned MS Dhoni to appear before the bench on the 25th of February.Dhoni is currently visiting Australia and will return home on January 31.
 Banned European soccer boss Michel Platini has withdrawn his candidacy from the race for the presidency of soccer's scandal-plagued governing body FIFA, he told French sports daily L'Equipe on Thursday.</strongPlatini, the head of European soccer body UEFA, was handed an eight-year ban from the game along with outgoing FIFA president Sepp Blatter by the federation's independent Ethics Committee on Dec. 21.Both have been engulfed by the worst corruption scandal in FIFA's history as the sport faces criminal investigations in Switzerland and the United States, where 41 soccer officials and sports entities have been indicted on corruption-related charges.Former French international Platini has insisted he has done nothing wrong and was still hoping to win an appeal in time to have been allowed back in time for the election on Feb. 26., but said he had changed his mind."I withdraw my candidacy. I can no longer (go through with it). I have neither the time, nor the means to go and see the voters, to meet people, and to fight with others," he said in an interview which L'Equipe published on its website."By withdrawing, I chose to fully focus on my defence on a case where there's no talk of corruption, falsification anymore, in which there's nothing left."It's a matter of schedule, but it's not just that. How do you win an election when you're prevented from campaigning?"Blatter and Platini were both banned over a payment of 2 million Swiss francs ($2 million) made to the Frenchman by FIFA with Blatter's approval in 2011 for work done a decade earlier.The committee said the payment, made at a time when Blatter was seeking re-election, lacked transparency and presented conflicts of interest, though both men denied wrongdoing.Platini had initially been seen as the favourite to replace Blatter in the Feb. 26 election where each of 209 national football associations who are members of FIFA hold one vote."I had... about hundred of official letters of support from federations and about 50 pledges, in two days," Platini said.Five candidates, none of them clear favourites, will take part in the election and a chance for the job of rebuilding the sport's beleaguered governing body.They are Prince Ali Bin Al Hussein of Jordan, Asian Football Confederation President Sheikh Salman Bin Ebrahim Al Khalifa of Bahrain, former FIFA official Jerome Champagne of France, UEFA General Secretary Gianni Infantino of Switzerland and South Africa businessman Tokyo Sexwale.Infantino has been Platini's right-hand man at UEFA and announced his candidacy after the Frenchman had been initially suspended in October.Champagne, although a compatriot of Platini, is known to be a critic, has no connections with UEFA and says that FIFA's priority must be to spread the game's riches more evenly around the world.
 Manager of the national cricket team Intikhab Alam has said that difficulties can be faced with Muhammad Amir�s return to the team and the Pakistan Cricket Board (PCB) is aware of these difficulties.Intikhab Alam has further said that there is no separate code of ethics for Muhammad Amir, adding that Amir has been directed to only concentrate on his bowling.�
 Some of the top Pakistan cricketers have expressed their eagerness to watch the Masters Champions League (MCL) which gets ready to take off later this month.Rooting for the event Pakistan opener Mohammad Hafeez said it is going to an experience for me to watch all the legends that I missed watching in my career, Khaleej Times reported.To watch players like Virender Sehwag and Brian Lara will be a special feeling not only for me but also for the fans.I am a big fan of Lara and so I will surely watch him and it will be a nice experience, added Hafeez.Pakistan wicketkeeper Sarfraz Ahmad feels that MCL which brings back some of the retired legends into action are giving the fans who haven t watched them live an opportunity to see them play.He also said that it will give a new twist to India�Pakistan rivalry.We have only watched India and Pakistan cricketers playing against each other but in this tournament we will see India and Pakistan players playing together for one team.I made my debut against India and so I know that despite all the rivalry we all are friends off the field and we get along very well.This is another opportunity for India and Pakistan players to be together, he added.Pakistan's top middle order batsman Umar Akmal too feels that MCL will give an opportunity for youngsters who missed watching the legends.Many fans haven't got to see these top players in action.Moreover it s a happy feeling to know that we can still play cricket after we retire.Usually the life span of a cricketer is 10 to 15 years and this tournament will help us extended our career he said.Paceman Wahab Riaz candidly admitted that MCL will now provide a secure future for retired cricketers."This tournament will be an opportunity for retired players as it is securing a future for them. So it is a good platform for all players."I have learnt a lot from Wasim Akram and there is a lot to learn from retired players. Personally I never got a chance to bowl to Lara whom I adore a lot.This kind of a tournament will give an opportunity to bowl to such players whom one had missed out". (APP)�
 FIFA�s ethics panel said on Saturday it had formally given outgoing President Sepp Blatter and European soccer head Michel Platini the reasons for their eight-year bans from the game, information both men could use in an appeal.</strongThe move came too late for Platini who said this week he had abandoned plans to appeal against the ban in time to rejoin the race for the FIFA presidency and withdrew his candidacy.Blatter and Platini were banned last month amid the worst corruption scandal in the history of world soccer�s governing body."After receiving the grounds for the decisions, both officials may lodge an appeal with the FIFA Appeal Committee," the adjudicatory chamber of the ethics committee said in a statement, without giving details on the information it sent.The sport faces criminal investigations in Switzerland and the United States, where 41 soccer officials and sports entities have been indicted on corruption charges.Blatter and Platini were both banned over a payment of 2 million Swiss francs ($2 million) made to the Frenchman by FIFA with Blatter�s approval in 2011 for work done a decade earlier.The committee said the payment, made at a time when Blatter was seeking re-election, lacked transparency and presented conflicts of interest, though both men denied wrongdoing.Platini, the head of European soccer body UEFA, had initially been seen as the favourite to replace Blatter in the Feb. 26 election.
strong>Defending champion Roger Federer will meet big-serving Canadian Milos Raonic in the final of the Brisbane International after the Swiss top seed dismantled rising Austrian talent Dominic Thiem 6-1 6-4 on Saturday.</strongFederer left his opponent and the centre court crowd stunned as he charged to a 5-0 lead at the Pat Rafter Arena before encountering stiffer resistance from his 22-year-old opponent as the match progressed at the Australian Open warm-up.The youngest player in the top 20, Thiem shrugged off the first set horror show to unleash some exquisite backhand winners in the second that had the Swiss master nodding approval.Federer�s serve was bullet-proof during the clutch moments, however, and the world number three closed out the contest with a booming ace on his second match point.Federer, who will be contesting his third consecutive Brisbane final and is one victory away from an 89th ATP title, hailed his "best match" of the tournament."I really thought I hit the ball very well," the evergreen 34-year-old, lathered in sweat from the muggy Brisbane heat, said in a courtside interview."I�m very excited to be back in the final again. It�s a great start to the season and I�m very happy."Raonic earlier won a battle of big servers to down local contender Bernard Tomic 7-6(5) 7-6(5) in the first semi.Both players held their serve throughout the contest but it was the Canadian who took control in the tiebreaks, jumping out to early leads on each occasion.After Tomic won four straight points to make it 5-5 in the second set tiebreak, Raonic whipped a forehand winner down the line to bring up match point.He closed out the contest in style, lunging for a cross-court backhand volley to end Tomic�s solid run at the tournament, which included an upset win over world number eight Kei Nishikori."It was a great match today, a difficult one against Bernie. He�s been playing so well, I know he�s going to do great things this year," Raonic said.
 �The trophy of the ICC T20 World Cup has reached Pakistan from South Africa and it will be launched in Peshawar tomorrow.The trophy, which began its world-wide tour from Mumbai has now reached Pakistan after completing its tour of South Africa.The T20 World Cup will be played in India in March this year. �The launching ceremony of the trophy will be held at the Army Public School Peshawar at 8-15 in the morning. Pakistan ODI captain Azhar Ali has already arrived in Peshawar to attend the ceremony.From Peshawar, the trophy will go to Lahore on January 12 before leaving for Bangladesh. The world tour of the trophy will finally end at the Indian capital New Delhi on February1.�
 Former golden girl Eugenie Bouchard is heading into the Australian Open with "zero expectations" of success after a year plagued by injury and poor form.Following a breakout year in 2014, the Canadian tumbled out of the top 10 with first round exits at the French Open and Wimbledon.Worse was to come, with a dramatic locker room fall leaving her concussed and forced to withdraw from the U.S. Open, an incident which prompted the former world number five to sue the United States Tennis Association (USTA).After three months away from the tour, Bouchard made a positive return at Shenzhen last week, winning her first two matches before being beaten in the quarter-finals.She continues her preparations for the Australian Open at the Hobart International this week but was playing down her prospects of a return to winning ways in the immediate future."A month or two ago I wasn�t even sure I could play the Australian Open so I�m just so happy to be in Australia, looking forward to playing these two tournaments (with) zero expectations," the 21-year-old told reporters on Sunday."I�m feeling good. I didn�t want to play if I wasn�t somewhat prepared, so I worked really hard in the off season to try and catch up a bit."Returning at Shenzhen was a relief for the Canadian, whose run to the 2014 Wimbledon final and the Australian and French semi-finals in the same year saw her touted as a future world number one."To step on the court and play a full match with no pain, play three matches three days in a row, was a success for me even though I lost the last match," said Bouchard, now ranked 49th in the world after peaking at five in Oct. 2014.Bouchard will face American Bethanie Mattek-Sands in the first round in Hobart. (Reuters)�
 An inspired Milos Raonic toppled Roger Federer 6-4 6-4 to win the Brisbane International on Sunday and avenge his defeat to the Swiss master in last year�s final.Raonic unleashed his usual serving blitz but it was the rangy Canadian�s groundstrokes that impressed the most as he outwitted the Swiss with a masterful display of clean hitting from the baseline.Federer, irrepressible in his semi-final win over Dominic Thiem, was off-colour from the start at Pat Rafter Arena and his 25-year-old opponent feasted repeatedly on his wayward backhand.Beaten in three tight sets last year, Raonic won at a canter in the rematch to clinch his eighth tour title and complete the perfect buildup to his bid for a maiden grand slam at the Australian Open starting later this month.Closing out the match with a booming first serve that Federer could only parry long, Raonic roared in triumph, having beaten the 17-times grand slam champion for only the second time in 11 encounters.He accepted the winner�s trophy from 77-year-old Australian great Rod Laver, the only player to complete the calendar grand slam twice.Long tipped to rock the tennis establishment, Raonic showed a bullet-proof poise in response to his opponent�s frustration and broke Federer�s serve in the ninth game of the opening set.Federer blasted a forehand long to concede the set then blew a gilt-edged chance to break Raonic early in the second by spraying a backhand long.Missing a regulation forehand winner down the line, Federer gave up a break-point and Raonic captured the decisive break in the eighth game.Federer battled hard to put the set back on level terms, but Raonic�s thunderbolt serve proved to be impenetrable.(Reuters)�
 �Colin Munro blasted New Zealand�s fastest Twenty20 half century to surpass a mark set by Martin Guptill earlier in the innings as the hosts swept their two-match series against Sri Lanka with a nine-wicket win in Auckland on Sunday.Guptill first rewrote the record books when he took just 19 deliveries to bring up his eighth half century in the shortest form of the game before he was eventually dismissed for 63 after smashing six boundaries and five sixes.His mark was then eclipsed by Munro some 20 minutes later when the left hander hit his seventh six to take New Zealand to 147 for one, the hosts chasing down Sri Lanka�s 142-8 total at Eden Park in just 10 overs.Munro�s half century came off 14 balls, the second fastest in international cricket behind India�s Yuvraj Singh (12 balls).He hit one four along with his seven maximums to finish unbeaten on exactly 50.The 2-0 series defeat also ensured Sri Lanka, the 2014 World Twenty20 champions, were replaced by West Indies at the top of the International Cricket Council (ICC) T20 rankings.Sri Lanka�s innings had been held together by Test and one-day captain Angelo Mathews� 81 not out, his highest score in the format, while opener Tillakaratne Dilshan scored a streaky 28.No other batsmen got into double figures.As in most of the limited overs matches on the tour, Sri Lanka�s top order failed to get their innings going, slumping to 39-3 in the seventh over.Their normally reliable, and deep, middle order also failed to capitalise on Eden Park�s small boundaries as New Zealand�s bowlers varied their pace, line, length and flight, with part-time medium pacer Grant Elliott taking 4-22.The sixth Twenty20 World Cup takes place in India from March 8 to April 3. (Reuters)�
 Pakistan�s 16-member cricket team on Sunday morning left for New Zealand for playing a series with the host team.�During the tour, Pakistan cricket team will play three Twenty20 matches and thre one day internatinals.�Shahid Afridi is the captain of Pakistan�s T20 team while the coach is Waqar Ahmed.�After a ban of 5 years, Muhammad Amir is also accompanying the team to play his first international series in as many years.�The team comprises Shoaib malik, Muhammad Yousuf, Umer Gul, Wahab Riaz, Muhammad Hafeez,�Ahmed Shahzad and Sarfaraz Ahmed.�The team will reach New Zealand via Dubai.
 England will draft in former international off-spinner Robert Croft to assist their slow bowlers during the five-match One-Day International series in South Africa starting on Feb 3.Croft will join the coaching team of Trevor Bayliss, Paul Farbrace, Ottis Gibson and Graham Thorpe as a consultant spin bowling coach for a 12-day period at the start of the series."Robert has had success in both domestic and international cricket during his career and he�ll have plenty to offer the dressing room," England�s director of cricket Andrew Strauss said in a press release on Monday."It�s an opportunity for players and coaches to exchange different ideas which is so important, particularly at this stage in the side�s development."He has worked with our performance programme in the past and has proved a popular and valuable addition and I�ve no doubt this group of players will also gain a lot from his involvement."Croft, 45, played 50 ODIs during a five-year international career that ended in 2001 and was a key figure in Glamorgan�s limited overs success during his 23 years playing for the club. (Reuters)�
 Uncapped pacemen Joel Paris and Scott Boland will make their international debuts for Australia in the first one-day match against India in Perth on Tuesday.The pair join Josh Hazlewood and fast bowling all-rounders Mitchell Marsh and James Faulkner in a pace-heavy attack at the WACA.Having lost Mitchell Starc to foot injuries for the entire home summer and fellow left-armer Mitchell Johnson to retirement in November, Australia fast-tracked 23-year-old Western Australian Paris into the side after impressing in domestic limited overs cricket.Johnson and Starc enjoyed success at the WACA using the �Fremantle Doctor�, a dependable afternoon sea-breeze, to swing the ball into right-handed batsmen and Australia captain Steve Smith said that had come into calculations in picking Paris."Traditionally we like to play a left-armer here who can use the breeze and move the ball so hopefully he�ll be able to do that for us tomorrow," Smith told reporters in Perth on Monday.Boland, 26, was a surprise selection in Australia�s Test squad against West Indies and impressed with a seven-wicket innings haul for Victoria state against Western Australia at the WACA in November."His death bowling has been very impressive," Smith said. "I think he hits a yorker as well as anyone at the moment. He�s got a bit of pace to him so hopefully he can hurry up the Indian batters a bit."Smith also said he hoped the WACA would be back to its traditionally fast and bouncy ways after it was widely criticised for being a batsman�s paradise during the recent Test series against New Zealand.Over 1,600 runs were piled on in the five-day draw, with six centuries scored."It looks a little bit soft at the moment under foot," Smith said. "It�s obviously a day out from the game. We�ll wait and see how it looks tomorrow."But hopefully it�s got a bit more pace and bounce than the Test match we played here."I guess the WACA and Gabba have been a fortress for us in one-day and Test cricket for a while."Obviously it�s a bit different to what the Indians are used to back home. Hopefully we can exploit that early on."The Perth match is the first in a five-game series against India. (Reuters)�
 Uncapped pacemen Joel Paris and Scott Boland will make their international debuts for Australia in the first one-day match against India in Perth on Tuesday.</strongThe pair join Josh Hazlewood and fast bowling all-rounders Mitchell Marsh and James Faulkner in a pace-heavy attack at the WACA.Having lost Mitchell Starc to foot injuries for the entire home summer and fellow left-armer Mitchell Johnson to retirement in November, Australia fast-tracked 23-year-old Western Australian Paris into the side after impressing in domestic limited overs cricket.Johnson and Starc enjoyed success at the WACA using the �Fremantle Doctor�, a dependable afternoon sea-breeze, to swing the ball into right-handed batsmen and Australia captain Steve Smith said that had come into calculations in picking Paris."Traditionally we like to play a left-armer here who can use the breeze and move the ball so hopefully he�ll be able to do that for us tomorrow," Smith told reporters in Perth on Monday.Boland, 26, was a surprise selection in Australia�s test squad against West Indies and impressed with a seven-wicket innings haul for Victoria state against Western Australia at the WACA in November."His death bowling has been very impressive," Smith said."I think he hits a yorker as well as anyone at the moment. He�s got a bit of pace to him so hopefully he can hurry up the Indian batters a bit."Smith also said he hoped the WACA would be back to its traditionally fast and bouncy ways after it was widely criticised for being a batsman�s paradise during the recent test series against New Zealand.Over 1,600 runs were piled on in the five-day draw, with six centuries scored."It looks a little bit soft at the moment under foot," Smith said."It�s obviously a day out from the game. We�ll wait and see how it looks tomorrow."But hopefully it�s got a bit more pace and bounce than the test match we played here."I guess the WACA and Gabba have been a fortress for us in one-day and test cricket for a while."Obviously it�s a bit different to what the Indians are used to back home. Hopefully we can exploit that early on."The Perth match is the first in a five-game series against India.
 World number two Simona Halep overcame a nagging Achilles problem to beat Caroline Garcia of France at the Sydney International on Tuesday ahead of next week�s Australian Open.The Romanian withdrew from the Brisbane International last week because of the injury, which also affected her 2015 campaign, and she called the trainer during her second-round match.Halep, who was given a first-round bye, said the pain was coming and going but she produced some of her best tennis in the deciding set on the way to a 6-4 2-6 6-1 victory that set up a quarter-final against Czech fifth seed Karolina Pliskova."When you have pain you always get scared because you don�t know what is going to happen," she said after her win. "I felt actually yesterday during the practice same thing. Five minutes pain, five minutes without pain."I don�t know exactly what this is. MRI showed that I have just an inflammation and I can keep playing, so I will do my best and I will try to be there, to stay focused."The 24-year-old is one of four leading women players heading to the Australian Open, which begins in Melbourne on Monday, under an injury cloud.World number one Serena Williams (knee), fifth-ranked Maria Sharapova (arm) and number three Garbine Muguruza (foot) all withdrew from matches in the last week.Halep said before the clash with the 34th-ranked Garcia she was fit but she looked anything but during her medical time out after the Frenchwoman stepped up the aggression to take the second set.Halep, though, shrugged off the complaint to storm through the third set, reeling off five straight games and recording her first win of the year when Garcia netted a straightforward mid-court forehand."I needed matches to see if I can stay during the match until the end with my achilles," she said."I did well today. I�m happy that I could finish. I am happier that in the third set I didn�t feel the pain. It means that I can keep working and keep playing with tough opponents. (Reuters)�
 Pakistan Judo Federation (PJF) Tuesday announced a 19-member national team for participation in the South Asian Games.Talking to APP, Secretary PJF Masood Khan said seven male and eight female players along with four officials would participate in the games scheduled in India from February 6 to 16.The male players include Mudassir Ali, Babar Hussain, Imtiaz Hussain, Qaiser Khan, Karamat Butt, Fazal Bashir and Shah Hussain Shah while the females include Irum Shehzadi, Humaira Ashiq, Maryum Shumaila Gull, Ambreen Maseeh, Sonum Barkat, Beenish Khan and Fozia Mumtaz.The secretary said the national judo team had earned three gold, three silver and five bronze medals in previous South Asian Games and hopefully the team would perform well in these games as well.A training camp was also underway in Peshawar to train the players for the event so that they could bring medals for the country, he added.Meanwhile the Embassy of Cuba has issued visa to the national playerShah Hussain Shah for the Grand Pre scheduled at Hawana from January22 to 26.�Masood said the event was a qualifying round for participation in aJudo event to be played in Brazil.He said Shah Hussain had already applied for an NOC from Ministryof Inter Provincial Coordination and Pakistan Sports Board to participate inthe event and hopefully he would be issued the required NOC soon. (APP)�
 Captain Steve Smith and George Bailey struck fluent centuries as Australia chased down a steep 310-run target to win the first one-day international against India by five wickets in Perth on Tuesday.Smith fell for his highest ODI score of 149 with Australia two runs short of victory and the right-hander left the ground shaking his head before watching his team seal victory with four balls to spare.Opener Rohit Sharma smashed an unbeaten 171 to lift India to 309 for three after the touring side won the toss and chose to bat first in sublime batting conditions at the WACA ground.India lost Shikhar Dhawan (nine) early but Rohit, the only cricketer with two double centuries in this format, and test captain Virat Kohli (91) laid the platform for a late flourish with a 207-run stand for the second wicket.India left-arm paceman Barinder Sran (3-56) gave his side a dream start on his debut by dismissing hard-hitting openers Aaron Finch (eight) and David Warner (five) in successive overs to reduce Australia to 21 for two.But Bailey (112) scored his third ODI hundred and added 242 for the third wicket with his skipper to take the match away from India.Bailey was lucky to survive an appeal for caught behind on the first ball he faced with television replays confirming Bran�s delivery brushing his glove on the way through to wicketkeeper Mahendra Singh Dhoni.India also missed several opportunities to run the right-hander out when their throws failed to hit the stumps.Off-spinner Ravichandran Ashwin sent back Bailey and Glenn Maxwell (six) in successive overs to give India hope but it was too little, too late.The 28-year-old Rohit, whose 264 against Sri Lanka in 2014 remains the highest individual score in the 50-over format, hit 13 fours and seven sixes.Rohit�s 163-ball knock was the highest score by a visiting batsman against Australia, overtaking West Indies great Viv Richards�s unbeaten 153 in 1979 in Melbourne.Kohli fell in unselfish manner trying to score quickly for his team and was out caught close to the boundary rope by Aaron Finch off paceman James Faulkner, who finished with figures of 2-60 in his 10 overs.�
 Lionel Messi reclaimed the FIFA Ballon d'Or award for the world player of the year on Monday from his great rival Cristiano Ronaldo who had walked off with the award for the previous two years.</strongThe Barcelona and Argentina forward took 41.33 percent of the votes followed by the Portuguese and Real Madrid forward (27.76 percent), with Brazil and Barcelona forward Neymar third (7.86 per cent)."It is a very special moment for me to be back here on this stage, winning again another Ballon d�Or after being there in the audience watching Cristiano win," said Messi as he accepted the award at the end of a drawn-out 90-minute ceremony."It�s incredible this is my fifth."Barcelona's Luis Enrique was voted coach of the year while United States World Cup winner Carli Lloyd, who scored a hat-trick in the final against Japan, was named women's player of the year.Initially started as the FIFA World Player of the Year award in 1991, it became known as the Ballon d'Or after merging with France Football's European footballer of the year award in 2010.The award, shared exclusively between Messi and Real Madrid's Ronaldo since Brazilian Kaka won in 2007, has been heavily promoted by FIFA and was broadcast to 190 countries with 1,100 guests including players and coaches attending the ceremony.But it is not everyone's cup of tea and some critics, such as Arsenal coach Arsene Wenger, say it is not appropriate in a team sport."I�m a big enemy of the Ballon d�Or. Who will win it? You know as well as I do that it�s certainly Messi who will win it. I think so. Overall I�m not a big fan of that," the Frenchman said earlier on Monday.The breakdown presented by FIFA also revealed tactical voting among the 165 national team coaches, 162 national team captains and 171 media representatives who cast votes.Messi, eligible to vote as Argentina captain, named Barcelona team mates Luis Suarez, Neymar and Andres Iniesta as his top three.Portugal captain Ronaldo choose three Real Madrid team mates -- Karim Benzema, James Rodriguez and Gareth Bale.Belgium captain Vincent Kompany opted for his compatriots Eden Hazard and Kevin de Bruyne as his top two.More surprisingly, Spain captain Iker Casillas -- the former Real Madrid goalkeeper who now plays for Portuguese club Porto -- was among those who did not vote.Despite a red carpet and plenty of glitz, the event had a low-key air of predictability about it and was held against the backdrop of FIFA going through the worst corruption crisis since it was founded in 1904.The sport is facing criminal investigations in both Switzerland and the United States, where some leading FIFA officials are among 41 individuals and sports entities who have been indicted on corruption charges.Outgoing FIFA president Sepp Blatter, normally a central figure in the ceremony, was not involved after being banned for eight years by the Ethics Committee in December and there was no President's Award, usually given out by Blatter for outstanding services to the game.Past recipients have included Pele, former Manchester United manager Alex Ferguson, the Haiti national team, Queen Rania of Jordan and South African anti-apartheid activist and veteran cleric, Archbishop Desmond Tutu.Acting president Issa Hayatou played a low-key role, reading a brief speech before the start and appearing on stage when the awards for best player and women's player were presented.Ronaldo said the players did not want to discuss FIFA's problems."We avoid answering this kind of question," he told a press conference before the ceremony."We are professional football players, we compete every week, every day, we train and we just focus on that. These things happen not just in football but in life, and the best thing would be no corruption anywhere."In terms of individual achievement, Ronaldo had slightly the better in the last year, scoring 54 goals in 52 games for Real Madrid, compared to Messi's 48 in 53.
 The Pakistan Tennis Federation (PTF) will be holding second Kulsum Saifullah Khan National Ranking TennisChampionships from January 18 to 24 here at the PTF Tennis Complex.This Grade 1 event will be the second version sponsored by the Saif Group of Companies the first one was held in January last year says a press release issued here.In this regard PTF President Salim Saifullah will also adress a press conference on Friday (January 15) here at the PTF Tennis Complex.The draws will be held on January 17 and qualifying rounds will start on January 18.The event carries a cash prize of Rs 500 000. The categories in the event include Men s Singles and Doubles Ladies Singles Boys 18 &amp
 AB de Villiers said he is still motivated to perform in all forms of international cricket and hopes the responsibility of being appointed South Africa test captain will improve his performances.The 31-year-old, one of the most explosive batsmen in the game, has taken over from Hashim Amla who resigned the leadership following last week�s second Test against England, saying he wanted to concentrate on his batting.De Villiers� Test future has been the subject of some doubt but he made an emphatic commitment to the longer format at a news conference on Wednesday."My focus is on international cricket and I want to play for as long as possible. I still have dreams of winning World Cups and keeping our top Test status," De Villiers, who is also South Africa�s one-day skipper, told reporters. "You are never guaranteed of performance but I�m definitely more motivated with added responsibility. I�ve always enjoyed it throughout my career."De Villiers has scored over 8000 Test runs at an impressive average of 51.52. He was the leading South African batsmen in an otherwise dismal Test series in India which the tourists lost 3-0 last year and said his motivation was to lead from the front."I�ll try score the runs, throw my body around the field, do the hard yards and I believe the team will follow," he said. "I�m a very competitive person and I truly hate losing. It�s a big focus on winning.Lots of energy and I like to lead by example. It makes my job a lot easier when you go out there and do things in away you want the team to follow."South Africa trail England 1-0 after losing the first Test in Durban and drawing the second Test in Cape Town.The third Test starts at the Wanderers in Johannesburg on Thursday and De Villiers said his first job was to try and unsettle England."I want to remind them they are away from home and not to enjoy the Pound and the Rand currency difference too much," he said in a reference to the fall of the South African currency against the British Pound that has given tourists added spending power in recent weeks."To make them uncomfortable is the way that Test cricket should be played.� (Reuters)�
 Top order batsman Usman Khawaja was brought into the Australia squad for the next two one-day internationals against India on Wednesday after opener David Warner was granted paternity leave.</strongWarner scored five runs in Australia's innings as the hosts registered a five-wicket victory in the opening clash of the five-match series in Perth on Tuesday but will miss matches two and three in Brisbane and Melbourne.Khawaja, who recently made a successful return to test cricket in the home series against New Zealand and West Indies, will replace his fellow lefthander, whose wife Candice is expecting their second child."Usman has been in fantastic form this season and was unlucky to miss out on a place in our squad ... in the first place," chief selector Rod Marsh said in a news release."This call-up is a reward for that form and it is great to have someone of his quality to step into the squad in David's absence."We wish both David and Candice well and look forward to welcoming David back into the squad when circumstances allow."Khawaja has played only three one-day internationals, the last coming against West Indies in Perth nearly three years ago.The second match against India takes place in Brisbane on Friday with the teams meeting at the Melbourne Cricket Ground on Sunday before the series concludes with fixtures in Canberra and Sydney.
 New South Africa captain AB de Villiers won the toss and elected to bat at the start of the third test against England at the Wanderers on Thursday as the hosts awaited the late arrival of a replacement wicketkeeper.</strongDe Villiers, who has taken over from Hashim Amla, said the decision was based on the batting form of his team from the second test in Newlands, where they fought valiantly to earn a draw after England had scored 626 runs in the first innings."It wasn�t an easy decision but we want to put some pressure on England.We turned things around as far as our confidence is concerned in Cape Town and we come into this game energised," De Villiers said in a pitchside interview.South Africa, who trail the four-match series 1-0, made two changes from the second test, one under bizarre last-minute circumstances.Wicketkeeper Dane Vilas was forced to make a desperate dash to the ground after being called up as a late replacement for the injured Quinton de Kock.Vilas was destined to arrive late for the first ball at 10:30 a. m. (0830 GMT) because Cricket South Africa could not book him on a flight earlier than 8 a.m. from Port Elizabeth, where he was due to play in a four-day provincial match.Flights from the coastal city to Johannesburg take two hours and the usual heavy traffic from the airport to the stadium looks set to add more drama to the dash.De Kock sustained a freak injury to his right knee on Wednesday."Quinton slipped and sprained his right knee at home late yesterday afternoon," South Africa manager Mohammed Moosajee said on Thursday.South Africa have also handed a debut to fast bowler Hardus Viljoen at the expense of spinner Dane Piedt.England, who won the first test by 241 runs in Durban, were unchanged despite several of the side recovering from a stomach virus that swept through the squad in Cape Town.em><strong>Teams:</strong></emstrong>South Africa:</strongStiaan van Zyl, Dean Elgar, Hashim Amla, AB de Villiers (captain), Faf du Plessis, Temba Bavuma, Dane Vilas (wicketkeeper), Chris Morris, Kagiso Rabada, Morne Morkel, Hardus Viljoenstrong>England:</strongAlastair Cook (captain), Alex Hales, Nick Compton, Joe Root, James Taylor, Ben Stokes, Jonny Bairstow (wicketkeeper), Moeen Ali, Stuart Broad, Steven Finn, James Anderson.
 Joe Root and Ben Stokes shared a rapid unbeaten partnership of 71 to put the brakes on a hostile South African attack and lift England to 162 for four at tea on the second day of the third Test on Friday.Replying to South Africa�s first-innings total of 313, Root scored the first half century of the match and was unbeaten on 60 with Stokes on 38 at the interval.Hardus Viljoen took the wicket of England captain Alastair Cook with his first ball in Test cricket and there were wickets for Kagiso Rabada and Morne Morkel as South Africa unleashed a barrage of pace to put England in trouble at 91 for four.But Root and Stokes, two of England�s most exciting young players, lifted the stranglehold as the touring side, 1-0 up in the series, plundered 135 runs in the afternoon session.Earlier, Alex Hales, who has been struggling with a stomach virus, went for one when he edged Rabada to AB de Villiers at second slip and Cook�s poor form continued after edging Viljoen�s first ball down the leg side to be caught by wicketkeeper Dane Vilas for 18.Nick Compton was caught in the slips by Dean Elgar off Rabada for 26 just after he and Root had put together a 50-run partnership for the third wicket. James Taylor departed for seven, caught at short leg by Temba Bavuma off Morkel for seven.South Africa had resumed on 267 for seven overnight and England removed Chris Morris and Rabada for the addition of only 14 runs, both caught by wicketkeeper Jonny Bairstow off Stuart Broad and James Anderson, who claimed his first wicket after toiling for 22 overs without success.But debutant Viljoen, who hit a boundary from the first ball he faced as a test batsman, and Morkel frustrated the bowlers by adding 32 runs in six overs for the last wicket. Bairstow dropped an easy catch off Anderson which denied him a chance to equal the world record of seven dismissals in an innings.Anderson�s follow-through after the delivery led him to encroach on the wicket and having been warned twice for running on the pitch, he was removed from the England attack by umpire Aleem Dar after an acrimonious exchange between the pair.He had bowled just two balls of his over and Stokes was brought on to complete it, finishing off the innings with his first ball when Morkel edged to Cook at first slip to give the all-rounder his 50th test wicket.South Africa�s total was the lowest for a Test innings in which all the batsmen reached double figures. (Reuters)�
 Hardus Viljoen took a wicket with his first ball in Test cricket as England lost openers Alastair Cook and Alex Hales cheaply to limp to lunch on 27 for two after dismissing South Africa for 313 on Friday.Nick Compton and Joe Root were both unbeaten on two at the interval on the second day of the third match of the series which England lead 1-0.Hales went for one when he edged Kagiso Rabada to AB de Villiers at second slip and Cook continued his poor run after edging Viljoen�s first ball down the leg side to be caught by wicketkeeper Dane Vilas for 18.South Africa had resumed on 267 for seven and England removed Chris Morris and Rabada for the addition of only 14 more runs, both caught by wicketkeeper Jonny Bairstow, off Stuart Broad and James Anderson, who claiming his first wicket after toiling for 22 overs without success.But debutant Viljoen, who hit a boundary from the first ball he faced, and Morne Morkel frustrated the bowlers by adding 32 runs in six overs for the last wicket before the innings came to an eventful close.Bairstow dropped an easy catch off Anderson which denied him a chance to equal the world record of seven dismissals in an innings.Anderson�s follow-through after the delivery led him to encroach on the wicket and having been warned twice for running on the pitch, he was removed from the England attack by umpire Aleem Dar after an acrimonious exchange between the pair.He had bowled just two balls of his over and Ben Stokes was brought in to complete it, finishing off the innings with his first ball when Morkel edged to Cook at first slip to give the all-rounder his 50th test wicket.South Africa�s total was the lowest for a test innings in which all the batsmen reached double figures. (Reuters)�
 India�s Rohit Sharma burnished his reputation in limited-overs cricket with a second successive century but could not stop Australia from winning the second one-dayer by seven wickets on Friday to consolidate their lead in the series.For the second time in three days, India rode Rohit�s elegant century to post a 300-plus total before watching George Bailey help the hosts mount a clinical chase to put Australia 2-0 up in the five-match series.Rohit showed the kind of form he is in, hitting a sparkling 124 and featuring in century stands with Test skipper Virat Kohli (59) and the selfless Ajinkya Rahane (89) to help India post 308-8.Yet, the satisfaction of a team victory eluded him as Bailey (76 not out) saw Australia home after Aaron Finch and Shaun Marsh had given the hosts a 145-run opening stand.Mahendra Singh Dhoni opted to bat after winning his second toss of the series and opener Shikhar Dhawan again fell cheaply to pace with Joel Paris claiming his first ODI wicket in his second match.Rohit and Kohli were once more left to rebuild the innings, which they did with some elegant shot-making.The duo, who had forged a 207-run stand in India�s five-wicket defeat at the WACA, added 125 before Kohli paid the price for attempting to steal a non-existent second run.Rohit was lucky to reach his 10th ODI century, after snickometer confirmed he, then on 89, had edged Paris but Australia�s caught-behind appeal was turned down by the umpire.Rahane proved a perfect foil for Rohit, shunning risks and still finding the ropes to bring up a run-a-ball fifty in their 121-run stand when boundaries flowed from both ends.Rohit�s 127-ball knock ended in bizarre circumstances when Rahane�s straight drive brushed bowler James Faulkner�s fingers before hitting the stumps with the non-striker out of his crease.After stemming the tourists� run flow in the last 10 overs, Australia returned for a strong start to their chase with Finch and Marsh denying India an early breakthrough with some fluent yet risk-free batting.To make things worse, Ishant Sharma dropped Marsh when the batsman was 19. Australia�s opening pair eventually fell in quick succession after identical knocks of 71, but Bailey added 78 runs with skipper Steven Smith (46) and George Maxwell (26 not out) hit the winning run to complete the chase with one over to spare.Bailey followed his 112 in Perth with a 58-ball knock that included six boundaries and a six.Melbourne hosts the third match on Sunday. (Reuters)�
 Paceman Mohammad Amir claimed a wicket on his return to international cricket following a five-year ban as Pakistan registered a 16-run victory over New Zealand in the first Twenty20 International in Auckland on Friday.Playing his first match for Pakistan after being banned for taking payments to bowl no-balls, the 23-year-old toiled without much luck before claiming a wicket off his final delivery to finish with figures of 1-31.Home skipper Kane Williamson (70) and Colin Munro (56) had seemingly set New Zealand on course to reach the 172-run victory target before their chase stalled and the hosts were dismissed for 155 in exactly 20 overs.After being asked to bat, former captain Mohammad Hafeez (61) helped the tourists overcome a slow start, hitting Trent Boult for back-to-back fours and clobbering Corey Anderson for two boundaries and a six in the same over.Pakistan skipper Shahid Afridi (23) hit two sixes and a couple of fours in the same Matt Henry over in a typically busy eight-ball knock, while Umar Akmal (24) chipped in with a 14-ball cameo to help Pakistan put up a competitive 171-8 total.Amir received visa clearance for New Zealand only last week and appeared nervous with the new ball in his hand, starting with a wide and soon opting for a change of ends.However, he came close to claiming a wicket in his second over but Afridi spilled a simple catch to reprieve Williamson, then on five.Batting at the other end, Munro decided to counter-attack, belting three sixes and a four off the last four deliveries of Umar Gul�s second over en route to a 25-ball fifty.Pakistan regained control of the contest when Wahab Riaz (3-34) ended Munro�s eventful knock before Afrid dismissed Grant Elliott and Luke Ronchi in the same over to jolt the hosts.Amir endured a second slice of misfortune when Sohaib Maqsood dropped debutant Todd Astle off his bowling before he finally tasted success in the penultimate over, this time Afridi making no mistake in taking the catch to account for Henry.Hamilton hosts the second of three Twenty20 Internationals between the sides on Sunday before they embark on a three-match one-day international series. (Reuters)��
 A venomous spell of fast bowling from Stuart Broad led England to an emphatic seven- wicket win over South Africa in the third Test on Saturday to clinch the series.Broad�s brilliant return of 6-17 on a lively wicket skittled the Proteas for 83 in their second innings on the third day.England reached their modest victory target of 74 with relative ease as captain Alastair Cook (43) top-scored in guiding them to 77 for three from 22,4 overs under gloomy skies.The tourists now have an unassailable 2-0 lead in the four-match series, with the final game to be played in Pretoria.South Africa bowled out England for 323 in the morning session for a slender first-innings deficit of 10 runs, but were no match for the bounce and movement of a rampant Broad as they crumbled to their second lowest Test score since returning to international cricket in 1991.Broad�s inspired spell after lunch was reminiscent of his 8-15 against Australia at Trent Bridge last August as he tore through the South African top order aided by some excellent catching.After removing openers Dean Elgar (15) and Stiaan van Zyl (11), Broad grabbed the key wicket of captain AB de Villiers (0) when he induced an inside edge to wicketkeeper Jonny Bairstow.It got worse for the home side when their other kingpin Hashim Amla (five) clipped the ball to James Taylor at short-leg, who showed excellent reactions to take a low catch.Temba Bavuma (0) became Broad�s fifth victim when he tried to evade a lifting delivery, but only succeeded in gloving the ball on to his stumps.Broad�s brilliant day was completed when he ended the innings with an excellent catch off his own bowling as he dived forward grab a ball that had come off the boot of batsman Faf du Plessis (14).Ben Stokes grabbed two scalps and there were also wickets each for James Anderson and Steven Finn.The latter complained after the innings of tightness on his left-side and will be assessed on Sunday.Rabada, 20, had earlier claimed his first five-wicket haul in test cricket when he bagged 5-78 to limit England to 323.It was a first home series defeat for South Africa against a team other than Australia since England won 2-1 in 2004-05. �(Reuters)�
 Stuart Broad decimated South Africa�s top order with a magical spell of fast bowling that yielded five wickets and left England on the brink of victory at tea on day three of the third Test on Saturday.The hosts limped to the interval on 71 for eight after Broad returned figures of five for 14 from 10 overs on a lively wicket to leave the Proteas with a meagre 61-run lead.Faf du Plessis (12) and Hardus Viljoen (one) will seek to build a ninth-wicket partnership after the interval in an attempt to set a target that gives their bowlers some hope.Resuming after lunch on 16 without loss having bowled England out for 323 in the morning, South Africa had no answer to the bounce and movement of Broad, who moved ahead of Bob Willis into third on the list of all-time England Test wicket-takers with 329.Dean Elgar (15) edged to wicketkeeper Jonny Bairstow and another torturous innings from Stiaan van Zyl (11) ended when he spliced the ball to Ben Stokes in the gully.The huge wicket of AB de Villiers (0) followed in Broad�s next over as he induced an inside edge to the keeper, before Hashim Amla (5) clipped the ball to short leg where James Taylor took a remarkable low catch.There were no second-innings heroics from Temba Bavuma (0) as he attempted to leave a rising delivery but only managed to glove the ball on to his stumps.Broad�s spell was reminiscent of his eight for 15 against Australia at Trent Bridge last August.There was no let-up for the home side when Broad was rested, Steven Finn removing Dane Vilas (8) thanks to another sensational one-handed catch by Taylor diving to his right.Stokes continued the procession with an excellent in-swinging yorker that clattered into the stumps of Chris Morris (0), before inducing an edge from Kagiso Rabada (16) to Bairstow.The wicketkeeper had scored a brisk 45 to help England to a 10-run first innings lead as Rabada completed a first Test five-wicket haul.The 20-year-old Rabada finished with figures of 5-78 after dismissing Joe Root (110), Broad (12) and Bairstow.England lead the series 1-0 after victory in the first Test by 241 run. The fourth Test starts in Pretoria next week. (Reuters)�
 Jonny Bairstow scored a brisk 45 to help England to a 10-run first innings lead over South Africa before Kagiso Rabada completed a first Test five-wicket haul on the third day of the third Test at the Wanderers on Saturday.Bairstow added 41 runs to his overnight total to propel England, who resumed the day on 238-5, to 323 despite losing overnight partner Joe Root (110) early in the first session.South Africa, who scored 313 in their first innings, were 16 without loss at lunch as they went about setting England a formidable target to give themselves a chance to level the series.Dean Elgar (10) and Stiaan van Zyl on six were not out at the start of their second innings.The 20-year-old Rabada added three wickets on Saturday to finish with figures of 5-78 as he dismissed Root, Stuart Broad and took the last wicket of Bairstow.Root added just four runs to his overnight total before getting a feint inside edge to an in-swinging delivery as the home side made an early breakthrough on a cloudy morning. He reviewed the umpire�s decision but technology showed a snick to the delight of home supporters after Root had dominated the second day with his unbeaten century.Moeen Ali (19) dispatched three lusty boundaries in a quick appearance at the wicket before edging a delivery from Chris Morris that saw wicketkeeper Dane Vilas pull off a stunning diving catch. Rabada then bowled Broad with a fullish delivery for 12 as England edged towards South Africa�s score.Steven Finn got the slightest touch off his gloves to a rising delivery from Morne Morkel and was caught behind without scoring. His dismissal was only confirmed after South Africa reviewed the umpire�s original not out decision.Bairstow then swung his bat to knock off the deficit and build up a slender lead before pulling high to mid-wicket where Van Zyl caught him to end the innings.England lead the series 1-0 after victory in the first test by 241 run with the second drawn. The fourth Test starts in Pretoria next week. (Reuters)�
 either put pressure on the batsmen and score 330, or chase down the score, give them the batting first.We will have a look and decide what suits us the best."While Rohit Sharma burnished his reputation in limited-overs cricket with a second successive century in Brisbane, skipper Dhoni said he was seeking even more his batsmen."As a team we have to win, irrespective of which department is not doing well, and for that we have to score 20-30 more runs," he added."That will put a lot of pressure on the batsmen, because the moment you take your guard right from the first ball, on the back of your mind would be �we have to get 330-340 odd runs to be on the safer side� and that would put a lot of pressure.
 Sabbir Rehman gave an account of his all-round abilities in Bangladesh's 42-run win over Zimbabwe in the second T20 in Khulna. He smacked an unbeaten 43 before picking up the vital wicket of Hamilton Masakadza, one of his three scalps, as the wind was taken out of the visitors' 168-run chase in the ninth over.Soumya Sarkar also made 43, but missed out on a bigger score after he threw his wicket away in the 10th over. Yet, Bangladesh kept hitting the boundaries - they managed 11 fours and eight sixes to equal their own record of most sixes in a T20 innings. Zimbabwe's reply was nearly a mirror image of Bangladesh's first half, until Sabbir came along to seal a victory that gave Bangladesh a 2-0 lead in the four-match series.Bangladesh started well, but the real push came when Tamim Iqbal hammered Neville Madziva for a four and six in the fifth over. But just as he started to rev up his engine, he also found a top edge that was easily taken by Brian Vitori at fine leg in the sixth over.Sarkar also looked authoritative by striking three fours and a six before Tamim fell and he then built the base further with Sabbir. But Sarkar threw it away in the 10th over as Malcolm Waller took an easy catch at deep midwicket to end his promising innings of 43.Zimbabwe were further boosted by the wicket of Mahmudullah, who fell to a superb catch by wicketkeeper Richmond Mutumbami. Then Mushfiqur Rahim batted through the second half of the innings to give Bangladesh a solid total to defend adding 52 for the fourth wicket with Sabbir.Sabbir made the most of a reprieve on 7 by Mutumbami as he lined up the straight boundaries well, even as Mushfiqur used the bowler's pace well in his 20-ball 24 before hobbling off the field. Shakib then finished off the innings with a cameo as Bangladesh took 50 off the last five overs.Masakadza came out all guns blazing, hitting two fours and two sixes in 2.2 overs, while Vusi Sibanda also soon got into the act. Zimbabwe were reprieved twice in the fourth over bowled by Mashrafe Mortaza. First, the substitute Imrul Kayes dropped Masakadza at cover, before Shuvagata couldn't reach a chance at midwicket.But Mashrafe soon had a wicket to show as Sibanda was bowled off the inside edge for 21 off 17. It was then that Sabbir was thrown the ball, and he delivered by having Masakadza caught at long-on for a 28-ball 30 that had three fours and two sixes. Sean Williams fell soon after to give Shuvagata his first T20I wicket and leave Zimbabwe needing a further 103 runs from the last ten overs. Sabbir then had the wicket of Mutumbami, who holed out to Sarkar at deep midwicket.Malcolm Waller briefly kept Zimbabwe in it by striking a four each in the 13th, 14th and 15th over, but an already escalating rate was compounded by Bangladesh's spinners. Waller was eventually dismissed for a 21-ball 29 by Al-Amin Hossain in the 16th over.Mustafizur Rahman then came to the party to dismiss Madziva and Peter Moor in the 17th over to puncture Zimbabwe. The eighth wicket was fittingly taken by Sabbir, who became the second Bangladesh cricketer to score at least 40 and take two wickets in T20.With a series win out of the equation, Zimbabwe have two more matches to potentially get their combinations right leading to the World T20. ��
 Glenn Maxwell struck a scintillating 96 in a tricky chase to help Australia beat India by three wickets in the third one-dayer on Sunday and take an unassailable 3-0 lead in the five-match series.Maxwell revived Australia�s chase for a 296-run victory target with a spectacular knock and by the time he was dismissed after an 83-ball blitz, scores were tied at the Melbourne Cricket Ground."It was nice to get a few out of the middle," the 27-year-old said at the presentation ceremony. "I broke my number one bat which was a bit annoying. I have to call Kookaburra and try and get another one from them."Virat Kohli had earlier struck a run-a-ball 117 to power India to a competitive 295 for six but the total was not enough in the end.Put into bat, India suffered an early setback as the law of average caught up with opener Rohit Sharma who, after centuries in the last two matches, fell for six in the fifth over.However, Shikhar Dhawan (68), now a Melbourne resident, batted himself back into form, raising 119 runs with Kohli before exposing his leg-stump which was pegged back by a John Hastings delivery.At the other end, Kohli became the fastest to score 7,000-runs in one-dayers, taking five less than the 166 innings South African AB de Villiers needed to reach the mark.The Indian test skipper found an able ally in Ajinkya Rahane (50), who notched up his second successive fifty, as the duo added 109 runs.Hastings, who finished with a career-best 4-58, ended Kohli�s sparkling knock of 117 that included two sixes and seven boundaries.Dropped on 20, Aaron Finch (21) could not make the most of the reprieve but Shaun Marsh (62) and skipper Steven Smith (41) added 64 runs to steady the Australia reply.At 215-6, the hosts looked in trouble before Maxwell bailed them out with some uninhibited stroke-making.Needing 65 runs off the last 10 overs, Maxwell hit Umesh Yadav for a six and a four in the 43rd over that produced 15 runs and proved the turning point in the thrilling contest.Maxwell missed his second ODI ton but belted three sixes and eight boundaries in his stellar knock to claim the man-of-the-match award as the hosts romped home with seven balls to spare.The teams now move to Canberra for the fourth one-dayer on Wednesday. (Reuters)�
 Skipper Kane Williamson and fellow opener Martin Guptill forged the highest partnership in Twenty20 Internationals to secure New Zealand a series-levelling 10-wicket victory against Pakistan in the second match in Hamilton on Sunday.The 171-run stand between the pair, who shared the man-of-the-match award, bettered the previous record of 170 between South African openers Graeme Smith and Loots Bosman against England in a 2009 match at Centurion.Opting to bat first, Pakistan posted 168 for seven in 20 overs with Umar Akmal (56 not out) and Shoaib Malik (39) scoring the bulk of the runs in the second match of the three-game series.Akmal needed 22 balls for his fifty and hit four sixes as Pakistan settled for a score their bowlers eventually could not defend.The tourists struggled to come to terms with the contrasting batting styles of New Zealand�s opening pair who milked the Pakistan attack with consummate ease.Williamson hit 11 boundaries to remain unbeaten on 72 as his team sealed victory with 14 balls to spare.Guptill faced 10 more balls for his 87 not out, hitting four sixes and nine boundaries, the last of which sealed victory and created a new partnership record.Wellington hosts the decider on Friday. (Reuters)�
 Fast bowler Jasprit Bumrah will replace injured Mohammed Shami in India�s squad for the three Twenty20 internationals against Australia, the country�s cricket board said on Monday.The 25-year-old has not played international cricket since finishing as India�s second-highest wicket taker at last year�s World Cup with 17 victims.Bumrah underwent surgery in March and was named in the squad for the limited-overs series in Australia, only to be ruled out again with a hamstring injury.The 22-year-old Bumrah sprung to prominence playing for the Mumbai Indians franchise in the Indian Premier League and is the joint-highest wicket-taker in his country�s domestic Twenty20 competition this season. (Reuters)�
 Big financial incentives for gamblers, small tournaments of little consequence to top players and the ease of fixing the outcome of a one-on-one sport have helped turn world tennis into a haven for match-fixers, according to experts and industry insiders.</strongTennis was rocked on Monday by allegations that the game�s authorities have failed to deal with widespread match-fixing, just as the Australian Open, the first grand slam tournament of the year, kicked off in Melbourne.Multiple sources told Reuters that the revelation was no surprise to those who closely follow the sport, where, out of the spotlight at small tournaments around the world, the temptations are obvious and malfeasance very difficult to prove.Dozens of untelevised tournaments are held annually and top players often inexplicably lose to relatively unknown opponents, said Steve Georgakis, a senior lecturer at the University of Sydney, who is researching match-fixing in tennis."If you have a look at the big tournaments, the Opens or Olympic Games, you�ll notice that in a lot of these tournaments the favourite usually wins," he said.But at a small tournament the following week, how could anyone prove that a top 50 player didn�t lose because they were exhausted or injured, said Georgakis.A highly ranked player is almost certain to be the odds-on favourite to win in these small tournaments and thus has the greatest opportunity to make money by intentionally losing to an outmatched player, handing a big payoff to those behind the fix."It�s a one-on-one sport and what you do is, you�re the favourite and you get a few other people to load up on the other player to win and then you throw the match.And you can never get caught," Georgakis added.Sports betting has exploded in recent years with the proliferation of online and mobile gambling sites, and could be worth as much as $3 trillion annually, Patrick Jay, an independent betting expert, told the United Nations in 2015.In that sea of money, tennis is the second most active betting market, trailing only soccer, research conducted by the European Gaming and Betting Association shows.Betting on tennis is relatively simple and comes with enormous potential payoffs, a professional tennis gambler told Reuters under the condition of anonymity.Many bookmakers have created disincentives to bet point-by-point or game-by-game with limits on those types of bets, pushing gamblers towards the payoffs for a winning bet on the overall match."Say you want to throw a game but win the match, why would you bother? You can only win a couple of thousand of dollars," the gambler said.Bookmakers are obliged to report suspicious betting patterns to the Tennis Integrity Unit, which was set up to police illegal activities in world tennis.But a source at a major bookmaker told Reuters under the condition of anonymity that it is ultimately up to the authorities to act."Most money is won by betting on the favourite, which is not a good result for bookmakers," he added."But if he�s up one set to love and then, in play, people start betting on the outsider�that would be us getting on the front foot, most likely, to say (to the authorities) �is there anything you need for us to look into?�," the bookmaker said.
 Johanna Konta did not have to wait long after her stunning first round upset of Venus Williams at the Australian Open on Tuesday before having to field the inevitable questions about her national allegiance.Born and raised until her early teens in Sydney, the 24-year-old world number 47 moved to Britain in 2005 and plays under the flag of her adopted home.That background was not about to escape the attention of the local media, particularly after the impressive nature of her 6-4 6-2 win over the seven-times grand slam champion and former world number one.Asked whether she might consider switching her allegiance back to Australia, Konta was blunt. "No," she said."Unfortunately, my home is Great Britain. It has been for a long time now, over a decade. Yeah, no, that�s where my heart is."Ah, jealousy is not a good thing," she grinned, as the questioner pursued the point by contrasting her victory with former U.S. Open champion Sam Stosur�s first round exit."I think Australian tennis is doing quite well, to be honest."You have a number of very good players, and it�s -- what�s the word? It�s not a privilege, but it�s a compliment that you guys would say that, so thank you. But be grateful for what you guys have."Apart from the local verbal tick of beginning her answers with a "yeah, no", Konta has gained more obvious benefits from her time in Australia."My ability to deal with the heat," she said. "I think I�m very lucky that I got to spend a lot of my young years here, because I got obviously exposed to the heat out here."That was particularly beneficial on Tuesday when temperatures crept towards the 30 degrees Celsius mark on Rod Laver Arena.Because of her nationality switch, Konta is unlikely to be back on the main show court for her second round encounter with Carina Witthoeft or Zheng Saisai. (Reuters)�
 British boxer of Pakistan origin Amir Khan who holds a record 31-3 with 19 knockouts will be the mandatory challenger for the winner of the fight between Danny Garcia and Roberto Guerrero scheduled to be held on Saturday.After Floyd Mayweather Jr. announced his retirement last September the title was vacated.Garcia and Guerrero will be fist to fist on January 23 for the said vacant WBC welterweight title at the Staples Center in Los Angeles California.In their official announcement WBC said Danny Garcia vs. Robert Guerrero will fight for the WBC welterweight championship.Amir Khan is ratified as (WBC) mandatory contender.Lamont Peterson vs. Andre Berto for a final elimination bout to determine the second mandatory website www.vinereport.com, reported on Tuesday.The decision of the organization met criticisms including comments from ESPN analyst Dan Rafael.Although the lineup looks more favorable for Khan he is more focused on Guerrero getting another chance with the title after his several attempts in the past.He said Anyone with remote knowledge of recent results would have to scratch their head with regard to Guerrero getting a title shot when you consider he had his clock cleaned in a one sided loss to Keith Thurman in March for another organization s welterweight title.Guerrero currently holds a record of 33-3 1 with 18 knockouts but was easily defeated by Mayweather Jr. in their welterweight title bout in 2013. He also had another chance to get the title from a different organization with his fight against Keith Thruman last March and a close shave with Aaron Martinez in June.He was as lucky as whomever will win the Powerball jackpot when he was given a generous split decision against Aaron Martinez in June but even if you can stomach Guerrero in a world title fight the WBC clearly is violating its rules since it only ranks Guerrero sixth Rafael added.Meanwhile in case Garcia gets the win it will be the second time that he and Khan will fight against a title.Garcia who holds the record 31-0 with 18 knockout victories already fought with Khan for the junior welterweight title in 2012.
 Australia off-spinner Nathan Hauritz announced his retirement from competitive cricket on Tuesday, bringing the curtain down on a 15-year career during which he represented the national side in all three formats.Hauritz, one of the many spinners Australia turned to after the retirement of bowling great Shane Warne, did not have a state contract for the last two seasons and was used by his Big Bash League side Melbourne Renegades for one match this season.The 34-year-old failed to take a wicket in that clash, against Perth Scorchers, and conceded 29 runs in his two overs."I was just so shattered after the game," he told reporters. "I realised I hadn�t come down here to be that disappointed about a game of cricket anymore. I thought �I don�t need that anymore�. I just want to get away."The highs and lows (are too much). I need to get off that up-and-down rollercoaster and get back to a bit of normality in life."I competed as hard as I could but I just felt that me competing as hard as I could wasn�t good enough.Hauritz made his Australia debut in a one-day international against South Africa in 2002 before playing his first test against India in Mumbai two years later.He took 63 wickets in 17 Tests, the last of which he played against India in 2010. He has the same number of dismissals in 58 ODIs and also played three Twenty20 internationals for Australia."I have a lot of good memories, obviously a few bad ones mixed among them," Hauritz added. "But I will definitely look back at my career very proud and very happy with what I achieved.� (Reuters)�
 Fernando Verdasco sent shockwaves through the Australian Open on Tuesday by defeating Rafael Nadal 7-6(6) 4-6 3-6 7-6(4) 6-2 to send the former world number one crashing out in the opening round.</strongThe first-round exit was the 2009 champion's first at Melbourne Park and only his second at such an early stage in a grand slam.Down 2-0 in the final set, world number 45 Verdasco dragged himself off the canvas with a barrage of booming forehand winners, breaking Nadal twice to move to the brink of victory.He then broke his compatriot a third time, sealing the four hour and 41-minute classic with a cross-court winner that left the Rod Laver Arena crowd stunned late in the day session."I just hit everything. I think I played unbelievable in the fifth set from the break," Verdasco said in a courtside interview."I just started hitting winners. I don't know how. I was closing the eyes and everything when I was coming in."I kept doing it so it went well."After shaking hands with his opponent and the chair umpire Nadal strode quickly off the court, barely pausing to acknowledge the crowd with a wave.The only other time Nadal was beaten so early in a grand slam was when Steve Darcis sent him crashing out of Wimbledon in 2013."The match is five sets... he was playing amazing in the last set," Nadal told reporters. "He had a lot of success all the balls hitting full power in the fifth."strong>'HAPPY FEELINGS'</strongBefore the tournament, Nadal had spoken of bringing "happy feelings" to Melbourne Park, after arriving his healthiest in years following a taxing off-season training camp.But his exit will do little to dispel the belief that the 14-times grand slam champion's best days are behind him.Nadal failed to progress further than the quarter-final of any of the grand slams last season, his first without a major trophy since 2004.Verdasco was inspired, however, hauling himself back from the brink with a stand-and-deliver game that mixed 90 winners with 91 unforced errors.It was partial revenge for his loss in an epic five-set semi-final against Nadal in the 2009 tournament, the second longest match recorded at the Australian Open.The 32-year-old served masterfully in each tiebreak, particularly in the second to keep the match alive, but wobbled early in the fifth when he was broken early.Fortune often plays a part in the defeat of Nadal and so it proved for Verdasco, who swung wildly at a second serve with the frame of his racquet, sending the ball cross-court to clip the line and break back to 2-2.He raised his hands in apology before acing Nadal to nudge ahead and ramped up the aggression on his more fancied opponent's serve.The pressure told on Nadal, who made his sixth double-fault to concede a break point, and Verdasco outfoxed the Spaniard in a fierce baseline rally to capture the decisive break.A raging ball of fire, Verdasco roared on to complete one of his finest victories and land a hammer blow on Nadal's early season confidence."It's tough especially because it's not like (it) was here last year," added Nadal, who was beaten by Tomas Berdych in the quarter-finals a year ago."This year was a completely different story -- I had been playing and practising great and working so much, so it's tough when you work so much and you arrive at a very important event and you go out so early."
strong>FIFA's Sepp Blatter may have been banned for eight years from the game but he is still receiving his president's salary from world soccer's governing body, a spokesman for FIFA's Audit and Compliance Committee told Reuters on Monday.</strongBlatter was suspended for 90 days by FIFA on Oct 8 and then banned from the game for eight years last month for ethics violations over a $2 million payment FIFA made to European soccer boss Michel Platini with Blatter's approval in 2011.But Blatter, a Swiss national who has been president of FIFA since 1998, will continue to be paid until a new president is elected on Feb 26, the spokesman Andreas Bantel said. That would mean Blatter would have been paid for nearly five months during which time he was unable to carry out his duties, and a period in which FIFA has appointed an acting president, African soccer head Issa Hayatou.The compensation sub-committee of FIFA's Audit and Compliance Committee recently ruled that it could stop Blatter's bonuses but not, according to his contract, his salary."Until the election of a new president on February 26, Mr Blatter is the elected president and therefore - according to his contract - is entitled to receive his remuneration," Bantel said.Blatter's U.S. lawyer and his Switzerland-based spokesman could not be immediately reached for comment.FIFA is facing the worst corruption crisis in it history as a total of 41 individuals and entities, including many former FIFA officials, have been charged with corruption-related offences in the United States. The U.S. investigation is far from over and FIFA also faces a parallel Swiss probe.Blatter's bonuses have been stopped because he was not carrying out his duties of supervising the organization, including its general secretary.Only last week, FIFA announced that Jerome Valcke was fired from his position as general secretary. It gave no reason but an investigation had followed allegations of corruption related to World Cup ticket sales.
 Former golden girl Eugenie Bouchard�s hopes of rehabilitation at the Australian Open came to a swift end on Wednesday as wily Agnieszka Radwanska sent the Canadian spinning out of the tournament with a 6-4 6-2 defeat in the second round.The 21-year-old Bouchard, whose career hit the buffers last year following her break-out 2014 season when she reached the Wimbledon final, crumbled under the lights of Rod Laver Arena after sprinting into a 4-2 lead in the first set.She lost six straight games to gift the set and an early break in the second to the Polish fourth seed, and was then powerless to mount a challenge as her forehand misfired and the errors started piling up.Staring down the barrel at 5-2, Bouchard was presented with one last chance to rally, having prised three break-points as Radwanska served for the match.But the 37th-ranked Canadian squandered them all in a run of four unforced errors, capitulating meekly at the tournament that was the springboard for her sensational 2014."I definitely felt in control at that moment .You can�t ever back off her and give her a chance to breathe," Bouchard explained to reporters about her failure to capitalise on such an encouraging start in the night session match.Bouchard made the semi-finals at Melbourne Park and the French Open that year before going one better at Wimbledon, prompting pundits and former players to declare her a future grand slam champion.Reaching a peak of world number five, she made the Australian Open quarter-finals last year before the wheels fell off with first-round exits at the French Open and Wimbledon.A more promising run to the fourth round of the U. S. Open ended in drama when she slipped and fell on the locker room floor and had to withdraw from the tournament with concussion.She later sued the United States Tennis Association and was unable to complete a match for the rest of the year.Though speaking of new beginnings in Australia and bringing a new coach in former Maria Sharapova mentor Thomas Hogstedt, Bouchard appeared to arrive with other baggage.Her encouraging run to the final of the Hobart International was ended with a 6-1 6-2 meltdown against Frenchwoman Alize Cornet, and she complained of being distracted by "personal family issues" at home.However, she tried to remain upbeat after her loss to Radwanska. (Reuters)�
 Malcolm Waller and Vusi Sibanda set up a big total as Zimbabwe crushed Bangladesh by 31 runs in the third Twenty20 international in Khulna on Wednesday to stay alive in the four�match series.Opener Sibanda struck 44 off 33 balls and Waller hammered 49 off 23 as Zimbabwe posted 187-6 before restricting Bangladesh to 156-6 in a packed Sheikh Abu Nasir Stadium.Sabbir Rahman made 50 off 32 balls for the home side who won the first two matches by four wickets and 42 runs respectively but found Zimbabwe�s total too much of an ask.Sabbir put on 67 runs with Soumya Sarkar (25) for the second wicket to give Bangladesh a positive start before Zimbabwe took control of the game through their spinners.Leg-spinner Graeme Cremer claimed 3�18 while Sikandar Raza chipped in with 2�7. After losing the first two matches Zimbabwe�s Sibanda came out firing with stand�in skipper Hamilton Masakadza putting on 45 in the opening stand in just four overs.Mohammad Shahid playing his debut T20 for Bangladesh broke the stand with Mosaddek Hossain taking a catch at point to dismiss Masakadza for 20. Shakib Al Hasan who claimed 3-32 removed Richard Mutumbami (20) and Sibanda in successive overs to bring some respite for the home side.But Waller who hit two fours and four sixes and Sean Williams (32) added 74 for the fourth wicket to ensure Zimbabwe did not stall.Bangladesh captain Mashrafe Mortaza said brief rain that delayed the toss for 15 minutes helped Zimbabwe�s batsmen because bowlers found it difficult to grip the ball.When the home team batted the ball started to turn off the pitch for the spinners.Apart from Shahid, a string of other Bangladesh players made their T20 debut including Mosaddek, all�rounder Muktar Ali and paceman Abu Hider.Batsman Imrul Kayes has also been brought into the squad while several others were rested and batsman Mushfiqur Rahim and paceman Mustafizur Rahman are nursing injuries.The fourth and final match of the series will be on January 22 at the same ground. (APP/AFP) �
 Pakistan blind cricket team pulled a thrilling 19-run triumph against traditional rival India in T20 Asia Cup for Blind on Wednesday at Jawaharlal Nehru International Stadium in Kochi (India).Pakistan maintained the winning streak in the tournament after beating host and favorite India. In their first, the team defeated Nepal.According to information made available here, India won the toss and invited Pakistan to bat first. Pakistan team players wore black armbands to mourn and show solidarity with Bacha Khan University (Charsadda) victims.Pakistan start was not good, as the visitors lost their first wicket with only eight runs on board when Muhammad Akram was stumped in the second over of the inning. Amir Ishfaq also did not last longer on crease and got run out after scoring only 1 run. Struggling with 18-2 on board in fourth over, Nisar Ali and Badar Munir then anchored the team�s inning and scored 109 runs for the third wicket partnership.Badar Munir dominated Indian bowling and got out after scoring 58 runs off only 32 balls with the help of nine boundaries. Nisar Ali also batted well scoring 56 runs off 48 balls. Pakistan posted 192 runs for the loss of nine wickets in stipulated 20 overs.In reply, Parkash and Ajay Reddy gave a formidable start to India scoring 97 runs in thfe opening stand. Reddy was run out after scoring 19 runs. Prakash played well and scored 75 runs off 56 balls hitting 10 boundaries and a six.Pakistani bowlers kept the things tight and fielders also responded well and curtailed India to 172-6 in allotted quota of 20 overs. Anees Javed picked two wickets while Israr Hassan claimed one. Badar Munir received Man of the Match award.In another match of the tournament, Sri Lanka beat Nepal by 137 runs.Pakistan will face Sri Lanka while Bangladesh will take on Nepal on Thursday.
 Malcolm Waller and Vusi Sibanda guided Zimbabwe to 187 for six in the third Twenty20 match against Bangladesh in Khulna on Wednesday as the tourists seek their first win of the series.Opener Sibanda struck 44 off 33 balls and Waller hammered 49 off 23 to keep Zimbabwe s hopes alive after the visitors won the toss and elected to bat.After losing the first two of the four�match series to Bangladesh Zimbabwe s Sibanda came out firing with stand�in skipper Hamilton Masakadza putting on 45 runs in the opening stand in just four overs.Mohammad Shahid playing his debut T20 for Bangladesh broke the stand with Mosaddek Hossain taking a catch at point to dismiss Masakadza for 20. Shakib Al Hasan who claimed 3�32 removed Richard Mutumbami (20) and Sibanda in successive overs to bring some respite for the home side.But Waller who hit two fours and four sixes and Sean Williams (32) added 74 runs for the fourth wicket to ensure Zimbabwe did not stall.Apart from Shahid a string of other Bangladesh players are making their T20 debut including Mosaddek all�rounder Muktar Ali and pacer Abu Hider.Batsman Imrul Kayes has also been brought into the squad while several others are being rested and batsman Mushfiqur Rahim and pacer Mustafizur Rahman are nursing injuries.The visitors made two changes for Wednesday s match with batsman Sikandar Raza and bowler Tendai Chisoro replacing Neville Madziva and Wellington Masakadza. (APP/AFP) ��
 Stand�in Zimbabwe captain Hamilton Masakadza won the toss and elected to bat Wednesday in the third Twenty20 against Bangladesh at the Sheikh Abu Naser Stadium in the city of Khulna.Bangladesh crushed the tourists on Sunday by 42 runs to take a 2�0 lead in the four�match series.A string of Bangladesh players are making their T20 debut in Wednesday s match including batsman Mosaddek Hossain all�rounder Muktar Ali and pace bowling duo Abu Hider and Mohammad Shahid.Batsman Imrul Kayes has also been brought into the squad while several others are being rested and batsman Mushfiqur Rahim and pacer Mustafizur Rahman are nursing injuries.The visitors made two changes for Wednesday s match with batsman Sikandar aza and bowler Tendai Chisoro replacing Neville Madziva and Wellington Masakadza.Bangladesh Mashrafe Mortaza (captain), Shakib Al Hasan, Imrul Kayes, Soumya Sarkar, Sabbir Rahman, Mosaddek Hossain, Mahmudullah, Riyad Nurul Hasan, Muktar Ali, Abu Hider and Mohammad Shahid.(APP/AFP)
 Paceman Kane Richardson claimed his maiden five-wicket haul to script India�s spectacular collapse and bowl Australia to a 25-run victory in the high-scoring fourth one day international on Wednesday.Three batsmen struck centuries in the 671-run match between the world�s top two one-day teams but it was Richardson�s (5-68) incisive bowling that clinched the contest, while also earning him the man-of-the-match award.Chasing 349 for victory, India were cruising at 277 for one before losing their last nine wickets for 46 runs to succumb to their fourth successive defeat in the five-match series.Opener Shikhar Dhawan (126) and Virat Kohli (106) featured in a 212-run stand for the visitors before the wheels came off India�s chase at Canberra�s Manuka Oval.Dhawan registered his ninth ODI century and Kohli scored his second consecutive hundred but India lost three wickets in 11 balls for the addition of one run that derailed them.For them, in-form Ajinkya Rahane came out to bat despite a split webbing of his fingers, but could score only two as India were all out for 323 in the final over.Earlier, Aaron Finch struck his seventh hundred in a blistering opening partnership of 187 with David Warner to power Australia to 348 for eight wickets.Finch smashed a run-a-ball 107 while Warner fell on 93 from 92 deliveries as the hosts continued to make merry against India�s toothless bowling attack after opting to bat first.Australia had chased down each Indian target to take an unassailable 3-0 lead in the five-match series and the tourists� battered bowlers did little better after finally getting the chance to bowl first.Warner, who missed the last two matches due to the birth of his second child, started off with a maiden against Umesh Yadav but soon hit his stride with three fours in an over against seamer Bhuvneshwar Kumar.Yadav also conceded three boundaries in the next over against the diminutive left-hander as Australia raced to 50 in the seventh over.Finch was equally destructive and a fierce straight drive from the right-hander off fast bowler Ishant Sharma (4-77) hit umpire Richard Kettleborough on the shin, forcing the official off the field.Finch mistimed a pull to be dismissed eight overs after Warner had played Ishant on to his stumps while attempting a slog over mid-wicket.Australia captain Steven Smith (51) and all-rounders Mitchell Marsh (33) and Glenn Maxwell (41) chipped in with some quick runs.Sydney hosts the fifth and final one-dayer on Saturday. (Reuters)
 Aaron Finch struck his seventh hundred in a blistering opening partnership of 187 with David Warner to power Australia to 348 for eight wickets in the fourth one-day international against India in Canberra on Wednesday.Finch smashed a run-a-ball 107 while Warner fell on 93 from 92 deliveries as the hosts continued to make merry against India�s toothless bowling attack after winning the toss and opting to bat first.Australia had chased down each Indian target to take an unassailable 3-0 lead in the five-match series and the tourists battered bowlers did little better after finally getting the chance to bowl first.Warner, who missed the last two matches due to the birth of his second child, started off with a maiden against Umesh Yadav but soon hit his stride with three fours in an over against seamer Bhuvneshwar Kumar.Yadav also conceded three boundaries in the next over against the diminutive left-hander as Australia raced to 50 in the seventh over.Finch was equally destructive and a fierce straight drive from the right-hander off fast bowler Ishant Sharma hit umpire Richard Kettleborough on the shin, forcing the official from the field.The 29-year-old Finch, who leads Australia in the Twenty20 format, reached his hundred with a single to mid-wicket off Yadav and celebrated the mark with a leap of joy.He later mistimed a pull against the same bowler to be dismissed eight overs after Warner played Ishant on to his stumps while attempting a slog over mid-wicket.Australia captain Steven Smith (51) and Mitchell Marsh (33), who was promoted to number three, ensured the team maintained the momentum with a 67-run stand for the third wicket.Glenn Maxwell, whose knock of 96 guided Australia to a win in the third ODI in Melbourne, put the finishing touches with 41 off 20 deliveries.Maxwell�s last 18 runs coming off Ishant�s final over of the innings before the bowler dismissed him with the last ball of the innings.Ishant was the most successful of the Indian bowler with four wickets for 77 runs, while Yadav picked up three for 67. (Reuters)�
 Pakistan blind cricket team kept their winning streak intact in the ongoing Asia Cup T20 Cricket for Blind, winning their third consecutive match against Sri Lanka by 90 runs and in the process qualified for the summit clash of the tournament on Thursday.According to information made available here, Sri Lanka won the toss and invited Pakistan to bat first at Jawaharlal Nehru International Stadium in Kochi, India.Pakistan posted a massive total of 214 runs on board for the loss of eight wickets in allotted 20 overs.Muhammad Akram was the top scorer with 44 runs while Muhammad Ayyaz made 34 off 19 balls. Zahid Mehmood, Anees Javed and Amri Ishfaq made 29, 23 and 22 runs respectively. Kulam Lakmal took two wickets while Suman and Kalyan shared one wicket each.Sri Lanka in reply made 124 runs in allotted 20 overs for the loss of eight wickets. Deshpriya made 36 runs and Ruwan Washantha scored 33 runs. Muhammad Idrees Saleem took two wickets while Muhammad Ayyaz, Amir Ishfaq, Muhammad Akram and Sajid Nawaz took a wicket apiece. Muhammad Ayyaz received Man of the Match award.With this win, Pakistan blind cricket team qualified for the final of the Asia Cup. The other finalist team will be decided on Friday after the match between India and Sri Lanka.�
 The final and decisive T20 match between Pakistan and New Zealand will be played tomorrow (Friday) at Wellington�s West pack cricket stadium.</strongThe match will start at 11:00 AM of Pakistan Standard Time.Pakistan team will be looking to bounce back after worst defeat in 2nd T20 match at Hamilton.Pakistan is expected to play with two changes. Mohammad Rizwan will replace out of form Sohaib Maqsood and Umer Gul by Anwar Ali.The host is expected to maintain the playing XI for the final T20 game.��The three-match series is level at 1-1.���������������������������������������������������������������������������������������strong>Expected teams:</strongPAKISTAN: Shahid Afridi, Imad Waseem, Ahmed Shehzad, Mohammad Hafeez, Mohammad Rizwan, Sarfraz Ahmed, Umar Akmal, Shoaib Malik, Anwer Ali, Mohammad Amir, Wahab Riaz.NEW ZEALAND KS Williamson, CJ Anderson, TA Boult, GD Elliott, MJ Guptill, MJ Henry, AF Milne, C Munro, L Ronchi�, MJ Santner, LRPL Taylor.
 Agnieszka Radwanska, playing through the pain of a leg injury, rode an opening set onslaught to take a place in the last 16 of the Australian Open with a 6-4 6-0 victory over Monica Puig on Friday.The fourth seed was forced to pull out of the Sydney warm-up because of her troublesome left leg and had lengthy medical treatment on it between the two sets in the 76-minute third round match."Pain is my second name," the Pole said. "The spray doesn't work, the strapping doesn't work, I just have to get on with. I am used to it. I can still play my best tennis. You just have to deal with it."Radwanska looked up against it when the big-hitting Puerto Rican broke for 4-3 in the first set on Margaret Court Arena but the Pole won the next three games to go 1-0 up before racing through the second stanza in just 27 minutes."She started really well," the 26-year-old said. "I didn't expect that. Everything was going really fast and she was playing with such intensity. I was in big trouble in that first set."Radwanska, a semi-finalist at Melbourne Park in 2014, next faces 21-year-old German Anna-Lena Friedsam, who beat last year's U.S. Open runner up Roberta Vinci in the third round on Friday.�
 �Stephen Cook became the 100th batsman to score a debut Test century and his innings of 115 helped South Africa amass 329 for five on the first day of the final Test against England on Friday in their bid to salvage pride in a lost series.Hashim Amla scored his 25th Test century as he and Cook shared a second-wicket stand of 202 but captain AB de Villiers departed second ball on a day of contrasting fortunes as England, 2-0 up in the four-Test series, fought back to claim four wickets after tea.Temba Bavuma (32) and Quinton de Kock (25) were not out at the close of play at Centurion Park.Handed his debut at the age of 33, one of five South Africa changes from the team badly beaten in the third Test in Johannesburg last week, Cook brought his domestic form to the test arena with a dream start to his international career.He survived two dropped catches, two close run-out calls and an lbw appeal unsuccessfully reviewed by England before reaching three figures -- a nervous spell in the 90s exacerbated by the departures of Amla and De Villiers.But Cook, whose father Jimmy was dismissed first ball on his debut for South Africa in 1992 at the age of 39, looked organised from the start, hitting a four off the first ball of the match when James Anderson�s delivery strayed down leg side.He should have been out on 47 but was dropped by wicketkeeper Jonny Bairstow off Stuart Broad�s bowling. He was eventually bowled after an innings of 187 balls when he got an inside edge to a delivery from Chris Woakes.Amla, who gave up the captaincy after the second Test to concentrate on his batting, looked effortless as he raced to three figures, scoring 109 off 168 balls with 19 boundaries before he played on to Ben Stokes.De Villiers, captain for his second Test, was out for his second duck in successive innings, caught at second slip by Joe Root off Broad.Yet another freakish catch by James Taylor at short leg dismissed Dean Elgar for 20 for the first wicket of the day as the short leg fielder continued a run of spectacular dismissals in the series.JP Duminy was Moeen Ali�s second wicket, trapped lbw for 16 -- the last wicket of the day as England checked South Africa�s progress after they had look poised for a huge total on 237 for one. (Reuters)�
 Hashim Amla scored an unbeaten century and Stephen Cook was 91 not out to lead South Africa to 224 for one at tea on the first day of the final Test against England as the hosts bid to salvage pride in a lost series.Amla�s 25th Test century came off 131 balls in a confident display which brought him 18 fours while Cook was nine runs short of a debut Test century at Centurion Park on Friday.Amla, who gave up the captaincy after the second Test to concentrate on his batting, looked effortless as he raced to three figures to cheers South Africa who lost two of the first three Tests and the series.He was 102 not out at the interval.Cook, handed his debut at the age of 33 in one of five South Africa changes after defeat in Johannesburg last week, offered a straightforward chance after lunch when he got a healthy edge to a Stuart Broad delivery but was dropped by wicketkeeper Jonny Bairstow on 47.There was another more difficult opportunity for Bairstow down the leg side when Cook was on 76. But Cook, whose father Jimmy was dismissed first ball when he made his debut for South Africa in 1992 at the age of 39, looked organised at the crease as he brought to the Test arena his dominant form in domestic competition.He hit a four off the first ball of the match when James Anderson�s delivery strayed down leg side.Yet another freakish catch by James Taylor at short leg was the only positive moment of the day for England as Dean Elgar was dismissed for 20 in unusual circumstances before lunch.Taylor showed a sharp presence of mind to grasp a catch after Elgar�s stinging shot hit him in the leg and the ball somehow got stuck around his calf, allowing him to snatch it up before it dropped to the ground.Elgar had danced down to wicket to Moeen Ali, hitting with some power, and will count himself exceedingly unlucky to have been dismissed after a lengthy review of the television evidence by the third umpire.It was the third extraordinary catch in the last two Tests for the diminutive Taylor, thriving in the most dangerous position on the field.South Africa won the toss and had no hesitation in electing to take first use of a good batting wicket.Their advantage was increased by a poor England bowling display with too many balls drifting down the leg-side or pitched too short. (Reuters)�
 Dean Elgar fell to a freak catch but debutant Stephen Cook remained unbeaten on 46 to help South Africa reach 107 for one at lunch on the opening day of the fourth and final Test against England at Centurion Park on Friday.Hashim Amla was batting on 34 at the break, having added 72 runs with Cook for the flourishing second wicket partnership after Elgar was dismissed for 20.James Taylor, at short leg, showed good anticipation and presence of mind when Elgar�s stinging shot hit him in the leg and the ball somehow got stuck around his calf, allowing him to pluck it before it could drop on the ground.Elgar had danced down to wicket to Moeen Ali and will count himself exceedingly unlucky to have been dismissed after a lengthy review by the television umpire.It was the third extraordinary catch in the last two Tests for the diminutive Taylor, thriving in the most dangerous position on the field.Cook began his Test career hitting four off the first ball of the game as James Anderson�s opening delivery strayed down leg side.It set the tone for the opening session with England being inconsistent with their bowling line, often drifting down the leg-side and erring in length on the short side.The 33-year-old Cook, whose father Jimmy was dismissed first ball when he debuted for South Africa in 1992 at the age of 39, was one of five changes from the third Test made by the home team.South Africa captain AB de Villiers won the toss and elected to bat on a wicket expected to provide for ideal batting on the opening day.England, who have taken an unassailable 2-0 lead in the series, made just one change to their team with seamer Chris Woakes, who played in the first Test, coming in for the injured Steven Finn. (Reuters)�
 First it was Hamilton Masakadza, who scored a record-breaking 93 to help Zimbabwe post a formidable total. Then came Tendai Chisoro's three-wicket haul that applied the brakes on Bangladesh's chase of 181 as the visitors levelled the series at 2-2 with an 18-run win in Khulna.While Chisoro picked up the key wickets of Sabbir Rahman and Shakib Al Hasan, and Mahmudullah, Neville Madziva, the pacer, did the damage at the start and towards the end as Bangladesh were bowled out for 162 in 19 overs to lose by 18 runs.Bangladesh's chase started badly as the top four were blown away with just 17 on the board. Mahmudullah and Imrul Kayes tried to resurrect the innings; Kayes slamming two fours and a six to briefly get the crowd going. But an attempted hoick over deep midwicket brought an end to his innings for a 14-ball 18 in the seventh over.Mahmudullah, meanwhile, rode luck found boundaries through edges and clips, but he soon got into his zone by hammering sixes over deep midwicket and long-off. Along the way, he was also a recipient of a huge slice of luck when he was dropped by Vusi Sibanda on 13.Nurul Hasan and Mahmudullah added 57 runs in 6.3 overs as the scales started to tilt again. But Sikander Raza revived Zimbabwe's hopes as he had Nurul, who was caught at cover. Mashrafe Mortaza, who has shown ability to wield the long handle, struck him for a four and six in the same over to reduce the equation down to 60 off the last six overs.A hint of panic endured as Elton Chigumbura threw the ball to his frontline spinner Graeme Cremer. Panic turned into proper nerves as he too was tonked for six by Mashrafe. But one slog too many resulted in Mahmudullah's downfall at the other end as he missed a full ball from Chisoro. Abu Hider Rony swung his way around, but he his effort had to be consigned to being scant consolation for the hosts. He was the last man to fall as Luke Jongwe held on to a low catch at cover to complete the win.The game started differently for Zimbabwe as they lost an early wicket, but Richmond Mutumbami and Masakadza got them up and running with a brisk 80-run stand. Mutumbami was also reprieved by Taskin Ahmed at short fine leg to add to Bangladesh's woes.Masakadza brought out his entire range of strokes, using a combination of brute force and timing to negotiate Bangladesh's spinners on a slow deck. He too was reprieved on 36 as the hosts suddenly went off the boil. Despite dismissing Mutumbami for a 25-ball 32, Bangladesh didn't look like getting control as Malcolm Waller blasted his way to an 18-ball 36 to strengthen Zimbabwe's base.On the night, the final flourish proved enough as Zimbabwe ran away emphatic winners as they restored parity to head into the World T20 with some confidence restored following a demoralising limited-overs series loss to Afghanistan earlier in the month. The jewel in Zimbabwe's twin wins to cap off their tour was Masakadza, whose 222 runs is a world record for most runs in aT20 bilateral series.���
 Pakistan and New Zealand teams observed one-minute silence in the memory of Bacha khan University attack martyrs before getting on with Twenty20 series decider on Friday.</strongBoth the teams paid rich tribute to the martyrs of Charsadda university.More than 20 including students, teachers, staff and policemen were martyred when militants stormed Bacha Khan University in Charsadda.
 New Zealand crushed Pakistan by 95 runs in the third and final Twenty20 in Wellington to wrap up the series 2-1.</strongThe Pakistani put up a dismal performance with the bat yet again, with wickets falling early and the entire team sent packing for just 101 runs in chase of a 197-run target.The team had lost 4 wickets in just the first four overs, five wickets by the eighth over, and 7 wickets by the 11th over, with the entire team being bowled out in just the 16th over.Wicketkeeper-batsman Sarfraz Ahmed score 41 runs off 52 balls before he too was caught by Milne off Elliot in the 13th over, leaving Anwar Ali and Wahab Riaz to follow him soon to the pavilionEarlier won the toss and elected bowl first. Batting first, New Zealand scored 196 for in their allotted 20 overs, Corey Anderson was the star performer for New Zealand as he scored 82 runs off 42 balls with the help of six boundaries and 4 sixers.Martin Guptill scored 42 runs from 19 balls which included six fours and two sixers whereas Kane Williamson contributed 33 runs from 33 balls with the help of three fours and a six.Wahab Riaz took 2 wickets while Shahid Afridi dismisse one batsman.
 �Johanna Konta marches on in the Australian Open, her excellent game buttressed by that weird, metronomic serve and embellished by a high-powered cross-court forehand that was too much for Denisa Allertova on Hisense Arena on Saturday.The British No1 closed out an impressive 6-2, 6-2 win to advance to the fourth round, and she now has realistic chances of going deep into the second week after a string of seeds went out in the first five days of the tournament.Allertova extended her as far as she could, but could not resist the precision of Konta�s serve, and the job was done when Konta slammed another neat forehand to her feet, forcing a final error after 64 minutes.From here, it gets a little harder. Konta will meet the Russian No21 seed, Ekaterina Makarova, after she eliminated No9 seed Karolina Pliskova.On this showing and her earlier efforts, Konta is now a serious danger to the higher seeds in her first Australian Open. To reach the last eight would be an extraordinary effort; she would be the first British player to make the quarter-finals of a slam since Jo Durie at Wimbledon in 1984.�
 Manish Pandey struck his maiden one-day century in a high-scoring thriller to secure India a pride-salvaging six-wicket victory against Australia in the fifth and final ODI in Sydney on Saturday.Staring at a series whitewash after four defeats, India rode Pandey�s scintillating 104 off 81 balls to chase down a 331-run victory target with two balls to spare.Centuries from David Warner (122) and Mitchell Marsh (102) helped Australia post 330-7 but Pandey�s knock in his only fourth one-dayer clinched the contest for India.India needed a strong start from their openers to stay on course to chase down such a big total and the visitors got just that from Shikhar Dhawan (78) and Rohit Sharma (99).Dhawan posted his third successive 50-plus score and Rohit fell agonisingly short of his third century in the series as they raised 123 runs in 18.2 overs.John Hastings dismissed Dhawan and Virat Kohli (eight) in quick successions to halt India�s progress and Rohit left leaving India needing exactly 100 runs from 91 balls to win the contest.With the required run-rate skyrocketing and skipper Mahendra Singh Dhoni (34) struggling to time the ball at the other end, Pandey�s crisp hitting left India needing 13 runs off the last over from Marsh.Marsh began with a wide and had his next hit out of the ground by Dhoni but the Indian captain fell immediately to inject fresh drama in the contest.Pandey, however, was unfazed and he hit the next ball for a boundary to first complete his century and then scurried for two for the winning run.Earlier, Warner struck his fifth ODI century and Mitchell Marsh notched up his first to set up yet another runfest in a series that has provided 3,159 runs.India�s much-maligned bowlers did well to reduce Australia to 117-4 in the 22nd over before Warner and Marsh combined to add 118 runs in 17.3 overs.Warner had fallen seven runs short of a century in Wednesday�s fourth ODI at Canberra but there was no such heartbreak this time as the southpaw brought up his run-a-ball century.The 27-year-old opener was eventually dismissed for 122, that included thee sixes and nine boundaries, but Marsh carried on to remain not out on 102 off 84 balls.For India, Jasprit Bumrah made an impressive debut, the right-arm paceman with an unorthodox bowling action sending down 10 tidy overs to claim 2-40 with some tight death bowling.Pandey was adjudged man-of-the-match, while team mate Rohit won the man-of-the-series award for the 441 runs he amassed in five matches. (Reuters)�
 David Warner smashed 122 and Mitchell Marsh was 102 not out as Australia reached 330 for seven in the fifth one-day international against India at the Sydney Cricket Ground Saturday.After losing the toss and being sent in to bat the Australians cruised to one more big total on yet another lifeless wicket in a series where the lowest score was India's 295 in Melbourne last Sunday.India had the ideal start to the innings when Australia�s Aaron Finch was given leg�before for six padding up to Ishant Sharma.When they lost Steve Smith (28), George Bailey (6) and Shaun Marsh (7) to stand 117 for four India must have had hopes of finally restricting the Australian total.But Warner and Marsh put on 118 for the fourth wicket to put the home side back on track.When Warner eventually fell guiding a slower ball from Sharma to Ravindra Jadeja at backward point wicketkeeper Matthew Wade (36) kept the momentum going with the score passing 320 before he was caught behind off Umesh Yadav.Debutant Jasprit Bumrah was the pick of the Indian attack taking two for 40 from his 10 overs. (APP/AFP)�
 England lost opener Alex Hales cheaply and were 29 for one at tea after bowling South Africa out for 475 on the second day of the final Test at Centurion Park on Saturday.Captain Alastair Cook (14) and Nick Compton (0) were not out after Hales continued his unconvincing form, falling for 15 when he was caught at point by Dane Piedt off Kagiso Rabada in the fifth over.England were still 446 runs behind after Quinton de Kock finished 129 not out to become the third South African centurion of the innings and moving rapidly on from 85 at lunch.He brought up his maiden Test century from 104 balls in an aggressive innings before running out of partners.A stand of 50 for the eighth wicket with Kyle Abbott and 82 for the ninth with Piedt kept England in the field a lot longer than they had planned.Frustration for the tourists, already 2-0 up in the series, was exacerbated by dropped catches, including two off De Kock.De Kock�s century followed tons on the first day for Hashim Amla and debutant Stephen Cook, offering South Africa hope of a first Test win in more than 12 months and some consolation after losing the series.England had looked likely to wrap up the South African innings swiftly when they took two wickets in the first four overs under sunny skies.Temba Bavuma added only three to his overnight 32 before getting a faint edge to a leg cutter from Stuart Broad and Rabada was out first ball, trapped lbw to give James Anderson his only wicket of the innings.Abbott fell lbw to Ben Stokes for 16 and Piedt played a dogged innings of 19 off 104 balls in supporting De Kock before Stokes� snagged him too.The England all-rounder finished with figures of 4-86 when he trapped Morne Morkel lbw. (Reuters)�
 Quinton de Kock scored an unbeaten 85 to help South Africa reach 421 for eight at lunch after England claimed three wickets on the second day of the fourth and final Test at Centurion Park on Saturday.Dane Piedt was not out on 10 as South Africa added 92 runs to their overnight tally of 329-5, seeking to build a sizeable first innings total and push for an elusive victory after more than 12 months without any Test success.De Kock, who missed the previous Test after hurting his knee tripping over while walking his dogs, displayed an array of aggressive strokes but was given two lives as England�s fielding woes continued.Ben Stokes attempted a difficult catch in the gully off James Anderson in the second over of the day when de Kock had yet to add to his overnight tally of 25.A mix-up between Jonny Bairstow and captain Alastair Cook at first slip offered de Kock another life on 80, just before the lunch break.He got a thick edge to a delivery from Chris Woakes that flew between wicketkeeper and first slip with neither making any effort to try and catch the ball.England had looked likely to wrap up the South African innings swiftly as they took two wickets in the first five overs under sunny skies on Saturday.Temba Bavuma added only three runs to his overnight tally of 32 before edging Stuart Broad and Kagiso Rabada followed almost immediately, out first ball as he was trapped leg before to give Anderson his first wicket of the match.De Kock and Kyle Abbott added 50 runs for the eighth wicket before the fast bowler fell leg before to Stokes for 16, including an elegant lofted six off Moeen Ali.England have already clinched the four-match Test 2-0 after wins in Durban and Johannesburg. The second Test in Cape Town was drawn. (Reuters)�
strong>West Indies batsman Shivnarine Chanderpaul has officially retired from international cricket, seven months after selectors opted to discard the veteran and push for a youth-oriented policy.</strongChanderpaul, who was dumped before the home series against Australia last June, said at the time he felt he deserved the opportunity to play one final series despite a poor return in domestic cricket before the squad was selected.The West Indies Cricket Board (WICB) thanked him for his contribution to their game."The WICB acknowledges the invaluable contribution Shiv has made to the game globally and we wish him all the best," WICB President Dave Cameron said in a statement.The 41-year-old made his test debut against England in 1994 and went on to amass 11,867 runs at an average of 51.37 in his 164 tests for the Caribbean side.His total is the seventh highest of all time, and he finished behind Brian Lara�s 11,953 as the second most prolific West Indian batsman.He scored 30 test centuries and 66 half centuries and had a high score of 203 not out.He also scored 8,778 runs in 268 one-day internationals at 41.60.Chanderpaul�s ungainly batting stance was at odds with cricket�s coaching manuals, but soft hands and a superb eye allowed him to flick, dab and poke the ball into gaps in the field and quietly accumulate runs.A low conversion rate of 50s to 100s early in his career was rectified after foot surgery removed some floating bone chips and allowed him to play without pain.Chanderpaul�s calm demeanour held together an increasingly brittle West Indies batting lineup after the retirement of Lara and many opposition teams targeted him as the key wicket.While selectors continue to pursue their youth policy in a bid to rebuild the once powerful cricketing side, Chanderpaul was still playing domestic first class cricket earlier this week.
 �South African fast bowler Kagiso Rabada took a career-best 6-101 to leave England on 318 for eight wickets at tea and trailing by 157 runs on the third day of the fourth and final Test at Centurion Park on Sunday.Rabada had decimated the England middle-order before lunch, claiming the big wicket of Ben Stokes (33) during a rain-hit middle session, with the visitors reeling after the Proteas posted 475 in their first innings.Moeen Ali (45 not out) provided a steady hand in response and along with Stuart Broad (four not out) will look to close the gap on a wicket that was starting to favour the bowlers.England have already wrapped up the series with an unassailable 2-0 lead.Stokes looked at his fluent best before he was caught at slip by Hashim Amla shortly after South Africa, who posted a first innings total of 475, had taken the new ball.Chris Woakes (26) was the only other wicket to fall in the session and could count himself unlucky, an edge off the part-time spin of JP Duminy hitting the thigh of wicketkeeper Quinton de Kock and looping to Dean Elgar at slip.Rabada had removed Joe Root (76), James Taylor (14) and Jonny Bairstow (0) in quick succession in the minutes before lunch.Root had looked set for a big score but was caught by De Kock having a drive at Rabada after he had brought up his fourth half-century of the series.Taylor fell to the same combination trying to pull a short ball, before Bairstow got a feather edge through to De Kock.Rabada is just the second player in history to take six wickets in an innings in both tests and One-Day Internationals before the age of 21, joining Pakistan great Waqar Younis on that short list.Captain Alastair Cook (76) was the first wicket to fall on day three when he was caught behind by De Kock off the bowling of fast bowler Morne Morkel.Coming around the wicket to the left-hander, Morkel angled the ball into Cook�s body and induced an edge as it moved away slightly off the wicket.It left Cook still 41 runs shy of becoming the first England batsman to reach 10,000 test runs after he had put on 99 for the third wicket with Root. (Reuters)�
 �India blind cricket team overpowered their counterparts from Pakistan by 45 runs in the summit clash of Asia Cup T-20 Cricket of the Blind to claim the title at Jawaharlal Nehru International Stadium in Kochi (India) on Sunday.<br/> <br/> According to the information made available here, India won the toss and decided to bat first. India posted a competitive total of 208 runs on board in stipulated 20 overs for the loss of five wickets. Deepak Patel was the top scorer with 40 runs whereas Ketan Patel made 34 runs. Haroon Khan and Sajid Nawaz bagged a wicket each. <br/> <br/> Pakistan in reply started badly. Opener Haroon Khan lofted the ball and was caught on the second ball of the inning without scoring a single run. Zahid Mehmood was also bowled in the second over. He made only four runs. <br/> <br/> Nisar Ali was dismissed for one run. Muhammad Akram was also bowled on the very first ball he faced. Pakistan lost the first four wickets for just 40 runs on board inside first four overs. <br/> <br/> Amir Ishfaq scored some quick runs but he was run out after scoring 38 runs off 21 balls.Anees Javed and Israr Hassan tried to build the innings and took the score to 113 runs after 11 overs, but again wickets fell in succession as Pakistan was bowled out for 163 runs in 18.2 overs.Anees Javed was the top scorer with 43 runs. Deepak took two wickets for the champions. (PPI)�
 Anna-Lena Friedsam�s giant-killing run at the Australian Open ended in tears and injury on Sunday when ailments to both legs allowed world number four Agnieszka Radwanska to snatch a 6-7 (6) 6-1 7-5 fourth round win.The 21-year-old German, who had never been past the second round of a grand slam before this year�s tournament, had Radwanska on the ropes when she led 5-2 in the deciding set before injury cruelly struck at 5-4.The 82nd-ranked Friedsam, who beat U.S. Open finalist Roberta Vinci in the third round, then took an injury time out and had strapping applied to her left leg.Radwanska held serve in the next game, but Friedsam appeared to exacerbate her injury.The German was given a time warning on the first point of the next game when she was unable to serve and broke into tears.She managed to play on and was 15-40 down when she appeared to strain her right hamstring.Chair umpire Felix Torralba then sanctioned her again for exceeding the time limit and awarded Radwanska a point that sealed the game and gave her a 6-5 advantage.The trainer again visited Friedman, who was in constant tears on her chair, but she managed to hobble out and complete the match and was given a massive cheer by the Hisense Arena crowd for her efforts.Radwanska will now meet Spain�s Carla Suarez-Navarro, who beat Australia�s Daria Gavrilova 0-6 6-3 6-2, in the last eight.The Pole, who had to play through the pain of a leg injury in the third round, said she had felt a twinge of sympathy for her hobbled opponent but also needed to be ruthless to advance."Of course, it�s hard to see that," said Radwanska, a semi-finalist at Melbourne Park in 2014."It�s tough because you know someone is struggling. But you really have to play your game because someone is still fighting./> "I had no choice, just to fight till the end for each point. (Reuters)�
 South African fast bowler Kagiso Rabada struck three times shortly before lunch to leave England teetering on 211 for six wickets on the third day of the fourth Test at Centurion Park on Sunday.Rabada removed England�s rock Joe Root (76), James Taylor (14) and Jonny Bairstow (0) with the tourists trailing by 264 runs after South Africa posted a first innings total of 475 on a wicket that is starting to favour the bowlers.In-form Ben Stokes (one) and Moeen Ali (zero) will seek to repair the damage after the interval with the first target to score the 65 runs required to avoid the follow-on.Rabada went to the interval with figures of 5-76, another sign of the rich potential of the 20-year-old who got movement at pace off the wicket to leave his side in control.Captain Alastair Cook (76) was the first wicket to fall in the opening session of the day when he was caught behind by wicketkeeper Quinton de Kock off the bowling of tall fast bowler Morne Morkel.Coming around the wicket to the left-hander, Morkel angled the ball into Cook�s body and induced an edge as it moved away slightly off the wicket.It left Cook still 41 runs shy of becoming the first England batsman to reach 10,000 test runs after he had put on 99 for the third wicket with Root.Root and Taylor moved the score on to 208 before the former was caught by De Kock having a drive at Rabada after he had brought up his fourth half-century of the series.That wicket started a precession in the minutes before lunch as Taylor fell to the same combination trying to pull a short ball.South Africa�s successful morning was complete when Bairstow got a feather edge through to De Kock as a rampant Rabada tore through the middle-order. (Reuters)�
 Firebrand fast bowler Kagiso Rabada bagged two wickets as South Africa reduced England to 52 for three at the close of day four of the final Test on Monday.The tourists, who have already won the series, need a further 330 for what would be a record-breaking victory on the final day but must do so on a wicket showing variable bounce and prodigious turn at Centurion Park.England�s hopes of an unlikely victory or survival will rest on Joe Root (19 not out) who is at the crease with James Taylor (19 not out) after Rabada gave the hosts the perfect start.The 20-year-old forced another failure from opener Alex Hales who was trapped lbw for one by a ball that kept low and jagged into him.Rabada claimed his ninth wicket of the match when he had Nick Compton (six) caught behind, the England batsman unsuccessfully reviewing what seemed an obvious edge.With a tense final day likely, England will hope that wasted review does not come back to haunt them.In between, Morne Morkel grabbed the prize scalp of England captain Alastair Cook (five) with a brilliant one-handed caught and bowled to leave the latter still 36 runs short of 10,000 test runs after a poor series.South Africa should have celebrated the wicket of Root as well, but wicketkeeper Quinton de Kock failed to take the ball after spinner Dane Piedt had drawn the batsman from his crease and beaten the edge.South Africa earlier declared their second innings on 248 for five.Hashim Amla fell four short of a second century in the match when he uncharacteristically flashed wildly at a wide deliver from Stuart Broad in the pursuit of quick runs.Amla added 117 for the fifth wicket with Temba Bavuma (78 not out), who showed great application and maturity.The highest successful chase in test matches at Centurion Park is 251 by England in 2000, though the pitch was only used for two days in that match after rain spoiled the contest and the teams decided to forfeit an innings each to force a result.Thunderstorms are forecast in Pretoria on Tuesday, though those will likely come late in the afternoon. (Reuters)�
MELBOURNE -- A year after her finest Grand Slam to date, Madison Keys left this year's Australian Open in tears.Playing on an injured left leg, Keys fell to Zhang Shuai 3-6, 6-3, 6-3 in the fourth round in Melbourne.In the second set, Keys began hobbling noticeably and called for treatment. She was unable to engage in long rallies and grimaced between points.With speculation she might retire, No. 15 Keys returned to the court, but the pain only seemed to increase. Already down a break, Keys doubled-faulted two times in a row, handing her Chinese opponent the set.Keys limped to her changeover chair, understandably frustrated, but this time did not call a trainer.Somehow, she managed to go up an early break at 2-1 in the third on a crushing 91 mph forehand return but was immediately broken back.After a quick hold from Zhang, a qualifier, Keys took another medical timeout. In the next game, she was visibly crying in pain. At that point, Keys could hardly move, lunging at shots just out of her reach.Zhang, 27, ultimately pulled away, ending the match on an overcooked forehand from Keys. The American hobbled off the court, her face in a towel, distraught at the outcome.More than an hour after her three-set loss, Keys gingerly walked to an area adjacent to the women's locker room with the assistance of her publicist.Keys, too injured to make the longer jaunt to the main interview roof, expressed her disappointment.In her last round, Keys strained an abdominal muscle, an injury she said also bothered her against Zhang.Amazingly, the 133rd-ranked Zhang had never advanced past the first round of a major in 14 previous attempts.�
 Milos Raonic struck a blow for the next generation of men�s tennis by flooring former champion Stan Wawrinka on Monday to reach the Australian Open quarter-finals.Second seed Andy Murray, returning to court two days after his father-in-law was rushed to hospital, hit back for the old guard in the evening session at Rod Laver Arena though, banishing Bernard Tomic, the last home hope in the singles.Murray�s win capped a banner day for Britain following Johanna Konta�s advance, giving the nation men�s and women�s singles quarter-finalists at the same grand slam for the first time in nearly 40 years.Melbourne Park was rocked by corruption allegations on its opening day, and a week later, integrity fears returned as a former Australian professional player pleaded guilty to match-fixing at a Sydney court.Former world number 187 Nick Lindahl appeared in court just hours after a top global bookmaker suspended betting after heavy gambling on a mixed doubles match at Melbourne Park.The winning doubles pair dismissed suspicions over the match after being questioned by integrity officials. There was no questioning the commitment of Raonic and Wawrinka as the pair slugged out a three-hour 44-minute thriller in the day session on Rod Laver Arena.Long seen as a threat to the Novak Djokovic-led establishment, 25-year-old Raonic showed ice in his veins to fend off the 2014 champion 6-4 6-3 5-7 4-6 6-3 after the 30-year-old Swiss roared back from two sets down.Unveiling an aggressive serve-volley game, Raonic fired 82 winners past the fourth seed to set up a second successive quarter-final at Melbourne Park.Having lost to Djokovic a year ago, he will be favourite against French showman Gael Monfils who delighted fans with some spectacular dives as he beat Russian Andrey Kuznetsov 7-5 3-6 6-3 7-6(4) to reach the quarter-finals for the first time.Raonic is on an eight-match winning streak since the start of the year, a run which included upsetting Roger Federer to win the Brisbane International, and he credits new coach Carlos Moya for giving him confidence to stray from the baseline."He�s sort of organising my strengths, my weapons and how to use them better," the 13th seed told reporters. (Reuters)�
 Second seed Andy Murray had his feathers ruffled but scrapped his way into the Australian Open quarter-finals with a 6-4 6-4 7-6(4) victory over local hope Bernard Tomic on Monday.The Briton, four-times a runner-up at Melbourne Park, was close to exasperation after being broken four times by the unorthodox Australian world number 17 but dug deep when it mattered to reach the last eight for the seventh year in a row.Murray had endured a tricky couple of days since Nigel Sears, the father of his pregnant wife Kim, collapsed in the stands on Rod Laver Arena and was taken to hospital while the Scot was playing his third round tie on Margaret Court Arena.As Sears, the coach of Ana Ivanovic, has since been discharged and cleared to join his daughter in England, Murray hoped he would have a calmer preparation for his quarter-final encounter with Spanish eighth seed David Ferrer.Murray, 28, enjoyed success with the drop shot early in the match but that started to wane in a match that was always interesting if never turning into a real contest.Tomic, 23, showed flashes of the quality that has had Australia raving about his potential since his early teens but was unable to maintain the level of his performance for sufficiently long periods to cause an upset.Murray, who fired 18 aces and 43 winners, clinched a topsy turvy third set in the tiebreak when Tomic went long with a return after two and a half hours on court."I just felt I was very uncomfortable," Tomic, who dropped serve three times in the first set, said."While on paper it looked like a close match it was uncomfortable for me.<br/> I didn�t play the game the way I wanted to but he didn�t let me."After Johanna Konta earlier earned her place in the quarter-finals, Murray�s victory means Britain will have a presence in the last eight of both draws of a grand slam for the first time since the 1977 Australian Open.Murray has his eye firmly fixed on becoming Britain�s first men�s champion in Australia since Fred Perry in 1934 but he must get past Ferrer to do it. (Reuters)��
 A patient century stand between Hashim Amla and Temba Bavuma put South Africa in a commanding position at 223 for four at tea on day four of the final Test against England on Monday.Amla, a regular thorn in England�s side, was not out on 96 as he chases a second century in the match with Bavuma unbeaten on 63. The hosts led by 356 runs on a pitch that has turn, movement and uneven bounce.The pair have put on 117 for the fifth wicket and kept England wicketless between lunch and tea after the touring side had made good inroads in the opening session when a fired-up James Anderson grabbed two early wickets and Ben Stokes another.South Africa, who are likely to be down to three front-line bowlers in the second innings with seamer Kyle Abbott struggling due to a hamstring problem, must decide what target they want to set England with four sessions remaining.They will be mindful of overworking their depleted attack as they chase a consolation victory in the test with England already having claimed the series.The previous highest chase successful in Test matches at Centurion Park was 251 by England in 2000, though the pitch was only used for two days in that match after rain spoiled the contest and the teams decided to forfeit an innings each to force a result.Anderson had earlier taken his number of test wickets to 433, one short of Indian great Kapil Dev in sixth place on the all-time list.He first induced a rash drive from opener Stephen Cook (25) that provided a catch for wicketkeeper Jonny Bairstow and two balls later grabbed the big scalp of home captain AB de Villiers, lbw without scoring.It was the third duck in a row for De Villiers, comfortably his worst run of form in Test cricket since he made his debut in 2004.Stokes removed JP Duminy (29) caught behind by Bairstow to leave South Africa sweating at 106 for four, before Amla and Bavuma edged the home side ahead again. (Reuters) �
 England�s nemesis Hashim Amla overcame a battered thumb and a lively wicket to post 50 not out and guide South Africa to 121 for four at lunch on day four of the final Test on Monday.The Proteas led by 254 runs on a rapidly deteriorating wicket with Amla and Temba Bavuma (nine not out) seeking to set England a record-breaking target if they are to win the series 3-0.The touring side bowled well in the morning session, with James Anderson grabbing two early wickets and Ben Stokes another.They have yet to dismiss Amla, though, as he showed great patience and steel while in obvious discomfort after being wrapped on the glove by Stokes on day three.He took his series runs tally to 424 at an average of 70.66 and remains the key in the Proteas posting a fourth-innings target they will feel is beyond England.Anderson had earlier taken his number of Test wickets to 433, one short of Indian great Kapil Dev in sixth place on the all-time list.He first induced a rash drive from opener Stephen Cook (25) that provided a catch for wicketkeeper Jonny Bairstow and two balls later grabbed the big scalp of home captain AB de Villiers, lbw for a duck.It would have been a satisfying moment for Anderson after De Villiers had suggested before the game that England�s bowlers had lost pace, with many suggesting he was alluding specifically to Anderson.It was also the third duck in a row for De Villiers, comfortably his worst run of form in test cricket since he made his debut in 2004.South Africa still have first-innings centurion Quinton de Kock to bat before England are in to the tail, but chasing anything over 300 on a wicket with variable bounce and movement will be extremely difficult.It would also be a record, the previous highest chase in test matches on this ground was 251 by England in 2000, though the pitch was only used for two days in that match after rain spoiled the test and the teams decided to forfeit an innings each to force a result. (Reuters)�
 New Zealand defeated Pakistan by 70 runs in first one-day international of three-match series here on Monday.</strongBatting first, after Pakistan skipper Azhar Ali won the toss and decided to field, Kiwis set 281 runs target for the Green Shirts. New Zealand made 280 for eight. Henry Nicholls made highest 82.Pakistan�s Mohammad Amir took three wickets for 28 runs.In reply to 280, Pakistan were all out for 210. Babar Azam scored 62.New Zealand pacemen Trent Boult and Grant Elliott shared seven wickets as the hosts bundled out Pakistan for 210Elliott did the early damage while Boult, the world�s top-ranked ODI bowler, ran through Pakistan�s lower order as the touring side were shot out in 46 overs, chasing a target of 281 in the first of the three-match series.Pakistan lose their last seven wickets for 68 runsNew Zealand led the three-match series 1-0. The second match of the series will be played in Napier on Thursday.
 Pakistan won toss and invited New Zealand to bat in the first ODI of the three-match series here on Monday.Pakistan skipper Azhar Ali said his bowlers will try to get early wickets and enter the field with a thorough team plan.�Badly battered in the earlier T20s, Pakistani cricketers have worked hard inside the practice nets to get themselves a good start in the ODI series.�In the first of the three-ODI series, Ahmed Shahzad, Suhaib Maqsood and Anwar Ali have been included in the team whose other players are Azhar Ali, Muhammad Hafeez, Babar Azam, Sarfaraz Ahmed, Anwar Ali, Muhammad Irfan, Wahab Riaz, Ammad Waseem and Muhammad Amir will be part of the Pakistan team.�Muhammad Amir is playing his first ODI after remaining outside the field for five-years.�After winning the toss, Azhar Ali said it would be challenging for him as a captain to play in New Zealand. However, he said, his team�s spirits are high to win.
 Pakistan�s T20 captain, Shahid Afridi is satisfied with his own performance in the series against New Zealand but unhappy with that of the team�s.Afridi admitted that his team�s performance was not up to the mark in the New Zealand T20 and ODI series, adding he would take up the issue with the management.He said the team is going through a tough phase but added that it would continue to move forward by taking it as a challenge.�Our performance was not up to the mark�.it is not Squash in which everything depends on the performance of a single player. The whole team has to perform (in Cricket),� he lamented.He came down hard on Ahmed Shahzad and Umer Akmal, saying attitudes will have to be mended to keep a certain status in the team.�Attention will have to be focused on the game,� he said, adding only a lucky few get so many chances.Afridi said he supported Ahmed Shahzad and Umer Akmal as much as possible, warning if they want to stay in the team, both will have to perform with consistency.
 Tennis star Sania Mirza teamed up with Croatian partner to beat Aisam ul Haq�s pair in the mixed doubles at Australian Open here on Tuesday.In the Grand Slam�s second round of mixed doubles Pakistan and India came face-to-face as Aisam ul Haq took on Sania Mirza.In the first set, Aisam along with his female tennis partner from Kazakhstan Yaroslava Shvedova competed well against the pair on the other side but ended up losing with 5-9.Sania Mirza and her Croatian partner Ivan Dodig dominated the second set and inflicted a crushing defeat to Aisam�s pair with 6-2.
 Roger Federer advanced to his 12th Australian Open semi-final on Tuesday with an efficient 7-6(4) 6-2 6-4 victory over sixth seed Tomas Berdych.</strongFederer was pressed hard in the opening set, taking it in a tie-break after swapping service breaks with Berdych, before the Swiss won the important points in the second set to take control of the match.The Czech broke early in the third set before 17-times grand slam winner Federer broke back in the third game and upped the pressure on his 30-year-old opponent, breaking again in the ninth then serving out to seal it in two hours, 16 minutes.Federer now waits the winner of the quarter-final between world number one Novak Djokovic and Japan�s Kei Nishikori, who play later on Rod Laver Arena.
 Reigning champion Serena Williams ramped up the power in the second set to vanquish fifth seed Maria Sharapova for the 18th match in a row and reach the semi-finals of the Australian Open with a 6-4 6-1 victory on Tuesday.</strongSharapova broke the world number one in the first game and mounted a stiff challenge in the opening set but wilted in the second to extend a losing record that goes back 12 years.Williams said the Russian brings out the best in her."When I play her, I know automatically I have to step up my game," Williams said. "I think that makes me play better. When I'm forced to play better, I do well."The gulf between Williams and Sharapova, a former number one and five-times grand slam champion, speaks volumes about the balance of power in the women's game.Williams has reached the last four at Melbourne Park on six previous occasions and gone on to win the title every time.On Tuesday's evidence, it looks like only illness or injury can prevent the 34-year-old from repeating the feat and adding a 22nd major title to her collection.The American, who came into the tournament after a four-month layoff, twice had treatment for "food poisoning issues" during breaks in the 92-minute rematch of last year's final.Sharapova handed back her early break with two double faults in game four but started the match well and offered a genuine test in the 55-minute opening stanza.The Russian showed character to storm back from 0-40 down to hold serve for 4-4 and was all over Williams's serve in the next game, the American yelling "C'mon!" on successive points as she finally held.The match turned on the next game when Sharapova fended off three set points despite failing to get her first serve in before Williams converted the fourth after a long rally with a volley at the net.Sharapova had fired 21 aces in her fourth round match but managed just seven against Williams."I think if you're serving maybe 180 (kph) against somebody else compared to Serena, that's an ace," said the 28-year-old."Against Serena, as we all know, the return is one of her great strengths. She's very explosive. She stays quite close to the baseline."She cuts the ball early. She doesn't give you many angles."Williams has an 8-0 record against her semi-final opponent Agnieszka Radwanska, who as the fourth seed is the highest ranked challenger remaining in the draw."Nothing's guaranteed in sports," said Williams. "I still have to win two matches against potentially two extremely tough opponents."
New Zealand Cricket on Wednesday apologized to Pakistan fast-bowler Mohammad Amir after a stadium announcer played the sound effect of a cash register just before the left-arm pacer was about to start one of his overs.NZC said it was "inappropriate and disrespectful" of the DJ to have played the suggestive sound effect during Friday's third T20 International between Pakistan and New Zealand at the Westpac Stadium in Wellington.According to reports, NZC chief executive David White has reprimanded the DJ and offered a full apology to Amir and the Pakistan team."I think playing the sound effect was inappropriate and disrespectful, and has the effect of trivialising one of the biggest issues facing cricket at the moment," White told a local newspaper."I've contacted the Pakistan team management to apologise, and to assure them there will be no repeat."Amir recently returned to cricket after a five-year ban for spot-fixing and is on his first international tour since his suspension ended.
 Johanna Konta ground down Chinese qualifier Zhang Shuai 6-4 6-1 at the Australian Open on Wednesday to become the first British woman to reach the semi-finals of a grand slam in over 30 years.Hours later, Andy Murray capped a banner day for Britain as he reached the semi-finals of the men�s tournament with a four-set victory over David Ferrer.Murray�s win ensured Britain have two representatives in the last four of a grand slam for the first time since 1977.The 47th-ranked Konta will seek to continue her fairytale run on Thursday when she meets German seventh seed Angelique Kerber for a place in the title-decider.Konta�s rise has been little short of extraordinary, with her last trip to Melbourne Park cut short with a humbling exit at qualifying when ranked 147th in the world.Twelve months on, the Sydney-born 24-year-old has emulated Eugenie Bouchard�s breathtaking run at the 2014 tournament by reaching the last four on her main draw debut at Melbourne Park.The last British woman to make a grand slam semi-final was Jo Durie at the 1983 U.S.Open, while the last finalist was the 1977 Wimbledon champion Virginia Wade.Konta will bid to become the first British woman to reach the Australian Open final since Wade�s run to the 1972 title.Although Konta has reached lofty heights for British tennis, the quarter-final against Zhang failed to soar quite so high.Both players battled nerves and the Chinese qualifier came into the match fatigued after playing seven straight matches.Konta steadied first and rushed to a 5-2 lead before an attack of nerves nearly brought her undone.The Eastbourne resident crumbled with two double-faults when serving for the set and allowed Zhang to claw back to 5-4.As the first woman qualifier to reach the quarter-finals at Melbourne Park in nearly three decades, Zhang was never going to concede lightly.She saved five set points in an epic game before Konta ended the argument with a pair of booming first serves.The pair traded service breaks early in the second set before Konta roared to a 5-1 lead.Although struggling to muster the energy, Zhang battled to the end, saving two match points.But she was powerless to save the third when Konta hammered a shot into an obliging net-cord that gave the Chinese no chance. (Reuters)�
 Champion Novak Djokovic foiled a stirring fightback from Roger Federer to defeat the Swiss 6-1 6-2 3-6 6-3 at the Australian Open on Thursday and charge into a fifth successive grand slam final.</strongStorming to a two-set lead within an hour, Djokovic appeared destined to complete a stinging humiliation but the net-rushing Federer responded brilliantly in the third as a partisan crowd roared him on at a flood-lit Rod Laver Arena.In a fourth set rivened by tension, Djokovic broke Federer in the eighth game and served out the match to love in two hours and 19 minutes.The world number one will bid for a record sixth title at Melbourne Park in the professional era, and will meet the winner of second seed Andy Murray and 13th seed Milos Raonic who play in the second semi-final on Friday.
 Serena Williams underlined the difference in class and power between her and the rest of the women's field with a 6-0 6-4 demolition of fourth seed Agnieszka Radwanska on Thursday to reach her seventh Australian Open final.</strongEvery time the American has made the final at Melbourne Park she has gone on to win the Daphne Akhurst Memorial Cup.Victory in Saturday's final against either seventh seed Angelique Kerber or unseeded Briton Johanna Konta, would give her a 22nd grand slam title, moving her to a tie with Steffi Graf for the most in the Open era.Williams romped through the first set in just 20 minutes before Radwanska showed some fight in the second but she was unable to stop the momentum of the American, who clinched her place in the final in 64 minutes."I'm really excited to be in another final. It blows my mind right now," Williams said in a courtside interview. "I just feel like I'm being the best I can and I can't believe I'm in another final."She started really well in the second set and making some great shots and hitting it deep and I just thought that I had to be aggressive."Williams began in ominous fashion breaking the Pole's serve in the first game with Radwanska's lack of power highlighted by the blistering nature of the American's returns.Radwanska's fastest serve in the first game reached just 140 kph. Williams was returning the ball at over 130.The fourth seed appeared resigned to defeat in the first set by the fourth game. She barely got a backhand return to a Williams serve then stood, with slumping shoulders, and watched as the 34-year-old put the overhead smash away.Williams cleaned up the first set in just 20 minutes before Radwanska elicited the largest cheer of the match at that time when she held serve in the first game of the second set, avoiding an embarrassing potential 'double bagel' 6-0 6-0 score.The crowd on Rod Laver Arena, which had its roof closed due to heavy rain in Melbourne, however managed to almost open it in the sixth game with a decibel-rising roar of support for Radwanska when she broke Williams to level it at 3-3.�Williams, however, broke again in the ninth game and then served out with three aces to seal a match in which she belted 42 winners to Radwanska's four.Radwanska, who had been bidding to reach her second grand slam final after Wimbledon in 2012, also heavily lost her only other semi-final appearance at Melbourne Park when she was beaten 6-1 6-2 by Dominika Cibulkova in 2014.
 The second one-day international between Pakistan and New Zealand in Napier was abandoned without a ball being bowled due to heavy rain and a wet outfield on Thursday.</strongThe calling off means Pakistan, who lost Monday�s first one-dayer by 70 runs, can now only hope to level the series when the teams play the third and final match at Auckland on Sunday.Heavy rain rendered the outfield too wet for any play and the umpires finally decided to call off the match after several inspections through the day.New Zealand had earlier won the three-match Twenty20 international series 2-1.
 Andy Murray went through paroxysms of frustration but seized another opportunity to break his Australian Open jinx with a four-hour, five-set semi-final victory over Milos Raonic on Friday.Four times the British world number two has advanced to the final at Melbourne Park and four times he has been vanquished, three times at the hands of Novak Djokovic.The Serbian will again stand in his path on Sunday as the Scot seeks to add another grand slam title to his 2012 U.S. Open and 2013 Wimbledon crowns.Raonic, meanwhile, was left heartbroken after suffering a thigh injury that hampered him from the middle of the third set of the 4-6 7-5 6-7(4) 6-4 6-2 defeat.Winning tennis matches never looks like a walk in the park for Murray but for much of the contest against the Canadian, he at least had some justification for the tortured grimaces and explosions of anger that followed every setback.The 13th seed has been on fire this year and his big serve and huge forehands had one of the best returners in the game on the ropes, while his new-found net game helped him to a healthy 72 winners.Murray said earlier this week that he would waste no more energy on the histrionics but the match was just minutes old when he returned to his chair muttering curses having been broken to love in his first service game.That was to be Raonic�s only break of the match but it was enough to win the first set and, after Murray had pounced to even up the contest, he ramped up his 230 kilometre-per-hour serve to clinch the third on tiebreak.The 25-year-old Raonic, hoping to become the first Canadian man to reach a grand slam final, was feeling the injury in the fourth set but Murray had also crucially got a better fix on his serve and broke for 4-3.Raonic almost claimed it back in the next game but Murray saved two break points, falling to one knee and roaring "Yes! Yes!" as he pumped his fist at the ground.Murray served out the set to even up the contest again and grabbed two breaks early in the decider as the wincing Raonic�s level dropped, the Canadian�s racket feeling the brunt of his frustration after the first.Murray finished off his ailing opponent with a sublime crosscourt backhand volley to bring up a match point, which he converted with a handsome forehand winner.The 28-year-old pointed both index fingers at the roof of Rod Laver Arena before slumping into his courtside chair with a look of relief on his face.The relief will not be long-lived, however, as he will be back on the same court on Sunday attempting to dethrone five-times champion Djokovic.Murray�s older brother Jamie will be bidding for silverware on Saturday when he teams up with Bruno Soares to take on Daniel Nestor and Radek Stepanek in the men�s doubles final.It is the first time two brothers have reached separate finals at the same grand slam.<br/> "You�re not going to see it very often," Murray junior said. (Reuters)�
 AB de Villiers has been appointed as the full-time captain of South Africa�s Test team, ending speculation he could retire from the longest format of the game to ease his workload.Cricket South Africa made the announcement on Friday after De Villiers was appointed for the final two Tests of the recently completed series against England on a temporary basis following the resignation of Hashim Amla.De Villiers, also captain of the one-day international side who take on England in a five-match series starting on Wednesday, believes his team can regain their number one test status after losing the test series against England 2-1."I am honoured to have been asked to captain the Test team into a new era," the 31-year-old said in a CSA statement."I thoroughly enjoyed captaining in the last two Tests against England and although I still have a lot to learn in this role it�s a new challenge that I�m excited to take on."I believe we are witnessing the emergence of another great team.<br/> There is plenty of hard work ahead of us; we are rebuilding and have a long way to go to being a finished product as a squad."De Villiers had expressed doubts about his Test future during the England series, refusing to commit himself to the team beyond this month.He was one of seven players handed two-year contracts on Friday following a board meeting of CSA.The others were batsmen Amla, JP Duminy and Faf du Plessis, and bowlers Morne Morkel, Dale Steyn and Vernon Philander.Temba Bavuma, Farhaan Behardien and Rilee Rossouw were all awarded one-year national contracts for the first time.South Africa�s next Test series is at home to New Zealand in August. (Reuters)�
 Rohit Sharma and Virat Kohli maintained their prolific form with the bat to secure India�s series-clinching 27-run win over Australia in the second Twenty20 match at the Melbourne Cricket Ground on Friday.Man-of-the-series in India�s 4-1 defeat in the one-day internationals, Rohit hit a 47-ball 60 at the top of the order to give the touring side a fast start along with partner Shikhar Dhawan (42).India, who were put in to bat, rode an opening stand of 97 to reach 184-3 in their 20 overs with Kohli providing a late assault in a strong top-order performance with a swashbuckling unbeaten knock of 59. Kohli, who smashed an unbeaten 90 in India�s 37-run win in Adelaide on Tuesday, hit seven boundaries and a six during his 33-ball knock.Australia, who made six changes in the side from their last defeat, also made a strong start with captain Aaron Finch providing the fireworks.Finch (74) and Shaun Marsh added 94 for the opening wicket to keep Australia, who handed T20 debuts to three players, in the hunt but India�s spinners picked up quick wickets to halt their march.Finch hit eight fours and two sixes in his 48-ball knock before he was run out trying to steal a quick single.India captain Mahendra Singh Dhoni missed a regulation stumping off Marsh but made amends with smart work with the gloves to dismiss dangerman Glenn Maxwell for one off left-arm spinner Yuvraj Singh.Dhoni was also lucky when the ball ricocheted off his pads to hit the stumps with James Faulkner out of his crease, the dismissal snuffing out Australia�s hopes of levelling the series at 1-1.The hosts could only manage 157-8 in their 20 overs.Left-arm spinner Ravindra Jadeja and Jasprit Bumrah picked up two wickets each for India.The final match of the series will be played in Sydney on Sunday. (Reuters)�
 Australia's captain Aaron Finch sent india in to bat in the second Twenty20 match of the series at the MCG.The hosts were without David Warner and Steven Smith, who are both departing on Saturday for the looming tour of New Zealand, while Travis Head, Cameron Boyce, Shaun Tait and Kane Richardson were dropped.In their places came Shaun Marsh, Glenn Maxwell, John Hastings, Scott Boland, Andrew Tye and Nathan Lyon. Boland, Lyon and Tye were making their T20I debuts as the selectors experiment ahead of the World T20 in India.India by contrast were unchanged, and will be eager to pressure Australia's batsmen into error once more at the MCG, albeit on a damp and overcast night that may be good for pace bowling.Australia: Aaron Finch (captain), Shaun Marsh, Chris Lynn, Glenn Maxwell, Shane Watson, Matthew Wade (wk), James Faulkner, John Hastings, Scott Boland, Aaron Tye, Nathan LyonIndia: Shikhar Dhawan, Rohit Sharma, Suresh Raina, Virat Kohli, MS Dhoni (captain &amp; wk), Yuvraj Singh, Hardik Pandya, Ravindra Jadeja, R Ashwin, Jasprit Bumrah, Ashish Nehra�
 World number one doubles pairing Martina Hingis and Sania Mirza clinched their first Australian Open doubles title together with a 7-6(1) 6-3 victory over Czech pair Andrea Hlavackova and Lucie Hradecka on Friday.</strongIt was the 12th grand slam women�s doubles title for Hingis while the third for India�s Mirza, all of which have come with the Swiss in the last year.The pair, who have now won 36 successive doubles matches, are also the reigning Wimbledon and U.S. Open champions."Thanks to my partner, we have had an incredible year," Mirza said in a courtside interview."We keep going and it�s great to have all these records with you."Both pairs were broken four times each in the first set before Mirza sealed it in the tiebreak after 62 minutes when Hradecka sent a forehand service return long over the baseline.Hingis, who was knocked out by Mirza and Croatia�s Ivan Dodig in the mixed doubles quarter-finals, took a medical time out at the end of the first set to have treatment to her right shoulder, but did not appear troubled.Hradecka dropped serve in the first and fifth games of the second set, to give the top seeds a 4-1 lead, and while Mirza lost her next service game they never looked like relinquishing control with Hingis dominant at the net.The Swiss was then broken while serving for the title, though they sealed it on their fourth championship point when Hradecka�s running forehand sailed over the baseline, the third time she was broken in the set."You have won two grand slam doubles so you were very tough," Hingis said of the Czech pair."I know everyone will say break, break, break but you guys have the best returns in doubles."
 Pakistan defeated Canada by seven wickets to qualify for the quarter-finals of the ICC Under-19 World Cup here on Saturday.Zeeshan Malik of Pakistan was later declared man-of-the-Match.Canada batted first after their captain Ibrash Khan won the toss in Group �B� match of the tournament at the Sylhet District Stadium .They were all out for 178 off 48.5 overs.Main scorers were Bhondo (51) and Ibrash Khan (44).Pakistan reached the target with ease in 40.5 overs.Zeeshan top scored with an unbeaten 89���
 All-rounder Shane Watson will lead Australia in the third and final Twenty20 international against India on Sunday in the absence of Aaron Finch, who was ruled out after damaging his left hamstring during Friday�s second match in Melbourne.Finch suffered the injury while batting during the team�s 27-run loss at the Melbourne Cricket Ground, which saw India take an unassailable 2-0 lead in the three-match series.Left-handed batsman Usman Khawaja has replaced Finch in the squad for Sunday�s match and has also been included in Australia�s one-day international squad for the tour of New Zealand."It is an honour to be asked to lead the side on Sunday, although the circumstances are far from ideal," Watson said in a Cricket Australia statement. "We may have lost the series but there is a great deal to play for with the ICC World Twenty20 coming up and you can be sure we will be determined to do well in Sydney."The 34-year-old Watson has previously captained Australia in a lone Test and nine ODIs and is the country�s second most experienced player in T20 internationals behind opening batsman David Warner. (Reuters)�
 West Indies have taken a gamble by naming Sunil Narine in their squad for the World Twent20 tournament in March as the off-spinner is currently suspended from bowling in international cricket due to an illegal action.The 27-year-old was reported to the International Cricket Council (ICC) during a one-day series in Sri Lanka last November and was later sanctioned after an independent assessment found his elbow extended beyond the maximum limit of 15 degrees.Considered an asset to the side, Narine was also initially selected for last year�s 50-over World Cup but later withdrawn, and has been working on his action in a desperate attempt to get it cleared in time for the World Twenty20 in India.All-rounder Darren Sammy will lead the world�s top-ranked T20 side, which includes 11 players from the contingent that won the last World Cup in Sri Lanka four years ago.The 15-man squad will assemble in the United Arab Emirates for a preparatory camp between Feb.22 and March 6, and will travel to India on March 7 for the tournament.England, South Africa, Sri Lanka and a qualifying team from the first round of the tournament have been pooled with West Indies in group one of the Super 10 stage at the World T20.Squad: Darren Sammy (captain), Samuel Badree, Sulieman Benn, Darren Bravo, Dwayne Bravo, Andre Fletcher, Chris Gayle, Jason Holder, Sunil Narine, Kieron Pollard, Denesh Ramdin, Andre Russell, Marlon Samuels, Lendl Simmons, Jerome Taylor. (Reuters)�
 Angelique Kerber became the first German to win a grand slam title since her childhood idol Steffi Graf in 1999 when she upset world number one Serena Williams 6-4 3-6 6-4 to clinch the Australian Open on Saturday.</strongThe 34-year-old American had been seeking her seventh Melbourne Park title and 22nd overall, which would have moved her into a tie with Graf for the most grand slam singles titles in the Open era.The seventh seeded Kerber, however, was not overawed by the occasion of her first grand slam final, breaking twice in the first set to take it in 39 minutes as Williams made 23 unforced errors.Williams cut down on the errors to send it into a third, which Kerber, who had the opportunity to serve it out while leading 5-3 only for the American to battle back, clinched when Williams hit a volley long in the following game.
 Nearly $1 million in funds from soccer's global governing body FIFA may have gone missing from Guatemala's soccer federation last year, according to sources and an internal audit seen by Reuters.</strongDozens of soccer officials worldwide have been charged by U.S. authorities probing corruption in FIFA, in an investigation that has sent shockwaves across the sport.In 2015, the Guatemalan soccer federation (Fedefut) received 8.24 million quetzals ($1.1 mln) in nine deposits from FIFA from February to October, according to a document signed by the federation's accountant and seen by Reuters.The Fedefut budget presented early last year totaled about $1.5 million but only included about $250,000 in FIFA funding while the remaining funds from the nine deposits were not included, according to sources knowledgeable about the internal audit.The internal audit was conducted by a FIFA committee put in charge of running the Guatemalan soccer federation following the arrest on corruption charges last month of top local officials, and earlier on Friday the committee filed a complaint over the missing funds with the attorney general's office of the Central American country.The federation's year-end spending report excluded the additional deposits.The membership of Fedefut's general assembly was also not informed of the nine deposits."That information was hidden," said one of the sources, adding that the results of an investigation into the missing funds will be provided to a visiting FIFA official next week.In one document, Fedefut's top budget official Oswaldo Rolando confirmed that the federation's financial division was informed of the extra deposits."I don't know why they weren't made available to the general assembly," Rolando said in the documents.Ciro Muralles, the former head of the financial division, said in a brief phone interview that he would not comment on the missing funds until he reviews the documents.A spokesperson for the FIFA committee running Guatemala's soccer federation confirmed that the complaint seeks an investigation into "the crimes that might have occurred."Earlier this month, Guatemalan police arrested fugitive former Fedefut president Brayan Jimenez in connection with the corruption probe.Jimenez has been accused of taking bribes along with Hector Trujillo, former secretary general of the Guatemalan soccer federation, who was arrested last month in the United States.Both have denied the charges.
 Shane Watson�s unbeaten hundred could not prevent Australia falling to a seven-wicket defeat to India in the third and final Twenty20 match on Sunday as Suresh Raina hit a four on the last ball to complete a 3-0 clean sweep in the series.India were chasing 198 to win and needed 17 runs in the final over as Yuvraj Singh hit a four and a six off the first two balls from paceman Andrew Tye and Raina hit the final ball through point with his team needing two.All-rounder Watson, leading Australia in the absence of the injured Aaron Finch, powered the hosts to 197-5 with an unbeaten 124 after winning the toss and opting to bat.Australia made five changes to the side that lost the last match in Melbourne to concede an unassailable 2-0 lead in the series, handing debuts to batsman Usman Khawaja and part-time wicketkeeper Cameron Bancroft.Watson, named player of the match, was the fulcrum around which the hosts� batting revolved and it was due to his 71-ball knock, which was studded with 10 fours and six sixes, that Australia posted a strong total.India replied with half-centuries from in-form opener Rohit Sharma (52) and Virat Kohli (50), who was named the player of the series, and then Raina�s 25-ball 49 to chase down the steep target.Rohit and Shikhar Dhawan got India off to a rollicking start, scoring 46 in just 3.2 overs, with fast bowler Shaun Tait going for 24 runs in the third over.Rohit and Kohli then added 78 for the second wicket to keep India strongly on course, before both batsmen fell to leg spinner Cameron Boyce.Yuvraj, who did not get an opportunity to bat in the last two matches, was sent in ahead of captain Mahendra Singh Dhoni at number five and though the left-hander struggled initially to put bat on ball, he produced the goods when his team needed.Raina and Yuvraj added 53 for the unbroken fourth wicket.The 3-0 sweep in Australia took India to the top of the T20 rankings in a timely boost ahead of the World Twenty20 at home from March 8-April 3. (Reuters)�
 Martin Guptill and Kane Williamson hit brisk fifties and combined in a record stand of 159 to power New Zealand to a thrilling series-clinching three-wicket win against Pakistan in the third and final one-day international in Auckland on Sunday.Babar Azam (83) and Mohammad Hafeez (76) laid the platform for a big total with a stand of 134 for the third wicket after Pakistan won the toss and opted to bat.But the touring side, needing to win the match to tie the series at 1-1, suffered a mid-innings collapse to be shot out for 290 in the 48th over.Brendon McCullum, returning from a back injury to lead the side, fell on the first delivery he faced from Mohammad Amir but Guptill (82) and Williamson (84) steadied the chase with their stand, the highest for the second wicket for the hosts.Pakistan captain Azhar Ali dismissed both batsmen in quick succession with his part-time leg spin to bring his side back into the match and New Zealand were quickly reduced to 210-5.But a rain interruption disrupted play and when New Zealand returned their target had been revised to 263 off 43 overs by the Duckworth-Lewis method.All-rounder Corey Anderson (35) was given not out by umpire Billy Bowden off Rahat Ali after a confident appeal for caught behind and the powerful left-hander made most of his fortune by smashing the paceman for two sixes on the next two balls.New Zealand, needing six to win off the last over, got over the mark with two balls to spare with Mitchell Santner hitting Wahab Riaz for two boundaries.Earlier, Pakistan were comfortably placed on 215-3 in the 31st over, riding on half-centuries from Hafeez and Azam but lost their remaining seven wickets for just 75 runs to fall short of the target they would have liked to set New Zealand.They would have folded for even less had wicketkeeper Sarfraz Ahmed not scored 41.Adam Milne accounted for Pakistan�s tail, picking up 3-49 while Trent Boult and Matt Henry picked up two wickets each.
 Mohammad Amir, who came back to international cricket after five years during the series against New Zealand, is on the verge of getting a central contract from the Pakistan Cricket Board.</strongThe tainted left-arm pacer is under consideration from the Pakistan Cricket Board for a central contract, just one month after his comeback to international cricket following a five-year ban for spot fixing.Reliable sources in the Pakistan Cricket Board said that Chairman Shahryar Khan would decide on whether Amir should be given a central contract later this weekAmir was given special relaxation by the ICC last April to resume playing domestic cricket before his spot fixing ban expired in September, 2015.The youngster impressed everyone with a series of good bowling performances in domestic cricket and in the Bangladesh Premier League. He was recalled to the national team for the T20 and ODI series in New Zealand last month.�
 World number one Novak Djokovic hammered a misfiring Andy Murray in straight sets to win a record�equalling sixth Australian Open title and strengthen his grip on men s tennis on Sunday.The Serbian world number one swept to a 6�1 7�5 7�6 (7 3) victory in two hours 53 minutes to hand Murray his fifth defeat in the Australian Open final.Djokovic equalled the tally of Australia s Roy Emerson who won the tournament six times between 1961 and 1967 an achievement that has gone unmatched in the 49 years since.It was also Djokovic s 11th Grand Slam title and he moved into equal fifth place with Rod Laver and Bjorn Borg behind 17�time leader Roger Federer.Djokovic is now firmly established as the dominant force on the Melbourne hardcourt after downing Jo�Wilfried Tsonga to win his first major title in 2008 beating Rafael Nadal in an epic final in 2012 along with his four wins over Murray in 2011 2013 2015 and now 2016.Djokovic also extended his Grand Slam winning streak to 21 matches and he has not lost a match at the majors since he was defeated by Stan Wawrinka in last year s French Open final at Roland Garros.While Djokovic was further enhancing his reputation Murray has the unwanted statistic of becoming only the second man in the post�1968 Open Era to lose five Grand Slam finals at any one major.Ivan Lendl Murray s former coach lost five finals at the US Open in 1982�1984 and 1988�1989 before winning at Flushing Meadows in 1985�1987. (APP/AFP)�
 South Africa have called all-rounder David Wiese into their squad for the first two one-day internationals against England starting in Bloemfontein on Wednesday.Wiese replaced Albie Morkel, who was added to the squad on Sunday but has since been laid low by back spasms and will take no part in the five-match series, Cricket South Africa said on Monday.Wiese, 32, made his ODI debut against New Zealand last August and played all three matches of that series.He has also featured in 12 Twenty20 internationals.He is a medium-pace bowler and destructive lower-order batsman.Wiese played for South Africa A against England in a warm-up fixture in Kimberley on Saturday, taking 2-73 in 10 overs and scoring a quick-fire 28. (Reuters)�
 New Zealand will be hoping to stifle their opponents by taking pace off the ball with the inclusion of three frontline spinners in their 15-man squad for next month�s World Twenty20 in India.</strongOff-spinner Nathan McCullum, left-armer Mitchell Santner and leggie Ish Sodhi all found a place in the Kane Williamson-led side for the March 8-April 3 tournament, and the trio can expect to see plenty of action on the host nation�s slow pitches."With the Indian conditions in mind, the plan has always been to take three frontline spinners, and all three bring something different," coach Mike Hesson said in a New Zealand Cricket statement on Monday."It�s great to have Nathan available again and his experience in the foreign conditions will be invaluable."Both he and Mitch Santner have the ability to bowl in the first six overs, which gives Kane a number of options to work with."McCullum has not played for New Zealand since August but is also handy with the bat, as is Santner, who impressed during the recent limited-overs series at home against Pakistan.Left-handed batsman Henry Nicholls, yet to play a T20 for New Zealand, was also rewarded with a spot for his match-winning 82 against Pakistan in the first ODI."Henry has shown his talent and versatility with the bat this summer and has also been used as a wicketkeeper for New Zealand A," Hesson added.Pacemen Tim Southee and Mitchell McClenaghan, and batsman Ross Taylor were also included in the squad despite carrying injuries with all three expected to be fit for the tournament, NZC added in the statement.New Zealand, who will be aiming to win a first limited-overs World Cup, have been drawn with Australia, India, Pakistan and a yet-to-be-confirmed qualifier in Group 2 of the Super 10 round of the tournament."On top of our four genuine pace bowlers and Corey (Anderson) as all-rounder, Colin (Munro) and Grant (Elliott) are also options with the ball for us with their change of pace," Hesson said.New Zealand open their campaign against the hosts in Nagpur on March 15.Squad: Kane Williamson (captain), Martin Guptill, Ross Taylor, Henry Nicholls, Grant Elliott, Corey Anderson, Colin Munro, Luke Ronchi, Mitchell Santner, Nathan McCullum, Tim Southee, Trent Boult, Mitchell McClenaghan, Adam Milne, Ish Sodhi
 Bangladesh tamed minnows Namibia who had earlier elbowed defending champions South Africa out of title race recording a convincing eight�wicket triumph in last Group A clash on Tuesday the Sheikh Kamal International Cricket Stadium.Bangladesh opted to field first, bundled Namibia out for just 65 in 32.5 overs and proceeded to wrap up the chase in 16 overs with Joyraz Sheik 34 off 55 and Nazmul Hossain Shanto 14 off 23, taking the team through after an early stutter.In its chase, Bangladesh met with a very determined bunch. Despite the paltry total Namibia put in an energetic display with the ball and didn�t allow Bangladesh to race away.However the hosts eventually managed to achieve the victory total in 16 overs with eight wickets in hand. Joyraz Sheik batted well for the side scoring unbeaten 34.The victory ensured Bangladesh would face Nepal Under�19 in a last�eight clash in Mirpur on Friday. It also meant Namibia would face the daunting task of toppling. (PPI)�
 Australia Women shrugged off the disappointment of losing the T20I series by handing India Women a 101-run thrashing in the first ODI in Canberra.Australia, opting to bat, rode on a 180-run stand for the third wicket between Alex Blackwell and Ellyse Perry.Blackwell top-scored for the team, stroking a 112-ball 114 with 12 fours, while Perry chipped in with 90 off 118 balls. Their efforts lifted Australia to a competitive 276 for six.Perry then contributed with the ball, collecting four for 45 to run through India's top and middle order, as the visitors failed to gather any momentum in their chase.Harmanpreet Kaur top-scored with 42, but no other player managed more than 25, as India folded for 175 inside 47 overs.�
 Lionel Messi will not chase a second Olympic football gold medal at the Rio de Janeiro Games in August, Argentina coach Gerardo Martino said on Monday.</strongMartino added he did not want the Barcelona forward, who will captain Argentina at the Centennial Copa America in the United States in June, to suffer burnout after a demanding season.He can take three over-age players in his under-23 squad to the Rio Games but Messi, who helped Argentina win their second Olympic football title in Beijing in 2008, will not be one of them."Messi won't go to the Olympic Games because there is a lot of competition for the national team this year," Martino said with World Cup qualifiers also in mind."We have the Copa America, the Olympic Games and after that four rounds of the qualifiers," he told Radio La Red."The reality at Barcelona shows the season will be long. I want to win very much but not at any price, nor for throwing the players on to the pitch for them to die there."Messi led Argentina to the 2014 World Cup final in Rio where they lost 1-0 to Germany after extra time.The 16-team Copa America, to celebrate 100 years of the world�s oldest active international football tournament, will be played from June 3-26 with the 10-member nations of South America's CONMEBOL and six from rival region CONCACAF taking part.Argentina, who also won Olympic gold at the 2004 Athens Games, failed to qualify for London 2012.
 �With power�packed cricket action ready to take place the winning team of the first-ever Pakistan Super League will win The Shooting Star,� a specially designed trophy by Swarovski.The Shooting Star was unveiled Wednesday here in a ceremony attended by Najam Sethi, Chairman PSL Governing Council, Naveed Asghar, Chief Marketing Officer HBL, Andrew Mojica, Managing Director Swarovski Middle East.The star�studded press conference saw the Shooting Star being unveiled by Wasim Akram, Shahid Afridi, Sarfraz Ahmed, Azhar Ali and Shoaib Malik.Also present were the five team owners:� Salman Iqbal, Javed Afridi, Nadeem Omar, Fawad Rana and Aamer Zaidi.The Shooting Star carries huge symbolic value since it is the first winning trophy of the tournament and it encapsulates the spirit of our League.�Our story is a story of hope and positivity and The Shooting Star is a perfect depiction of this spirit,� said Sethi.Andrew Mojica of Swarovski shared his enthusiasm about the arrangement. �We are delighted that the Pakistan Super League has chosen our Shooting Star trophy for the tournament, hopefully this is the first of many collaborations to come�.Following the trophy unveiling, Wasim Akram, Shahid Afridi, Sarfraz Ahmed, Shoaib Malik and Azhar Ali spoke to the media.Peshawar Zalmi captain Shahid Afridi announced that Javed Afridi, the Peshawar Zalmi owner will pay for the entry of every Zalmi fan wearing the team�s shirt.Sharing his thoughts, Afridi said: � This will be a great platform for young players to showcase their talent at a global stage�.Former Pakistani captain Wasim Akram, Director Cricket of Islamabad United said: � It has taken a long time for this to happen but I am glad that we have our own T20 league. Pakistanis will own this product proudly and I urge the fans to come to the stadium as they will see some exciting cricket�. The HBL Pakistan Super League is bringing 24 action�packed cricket games to Dubai and Sharjah from February 4 to 23. (PPI)�
 Hasan Mohsin starred with bat and ball as Pakistan Under-19s defended 212 to beat Sri Lanka Under-19s by 23 runs and finish top of Group B. Pakistan will take on West Indies in the quarter-finals while Sri Lanka will meet England.Sent in to bat, Pakistan made slow progress at first, and their run rate was still below four an over when Wanidu Hasaranga dismissed Salman Fayyaz (33) in the 41st over to end his 61-run stand with Mohsin.Wickets fell steadily at the other end, with none of bottom five getting into double figures, but Mohsin ensured he dragged Pakistan to a competitive total, and was ninth out for a run-a-ball 86 with eight fours and a six. Pakistan were bowled out for 212 in the 49th over.Opening the bowling with his gentle seam-up, Mohsin then gave Pakistan two early breakthroughs, dismissing both Sri Lankan openers. Sri Lanka slipped to 63 for four when the in-form pair of Charith Asalanka and Shammu Ashan got out to soft dismissals against the spinners, but Kamindu Mendis and Vishad Randika got the chase back on track with an 84-run stand for the fifth wicket.Just when Sri Lanka seemed to be cruising home, though, Mendis holed out to long-on for 68 (104b, 5x4), and Hasaranga and Randika (46 off 71) followed him soon after.Damitha Silva kept Sri Lanka in the hunt for a while with an unbeaten 21, but the lower order fell away around him, with legspinner Shadab Khan picking up the last two wickets to finish with figures of three for 31.�
 Matt Henry shrugged off the disappointment of missing out on selection for next month�s World Twenty20 with a hostile spell of pace bowling that helped New Zealand ease to a 159-run win over Australia in the first one-day international on Wednesday.The 24-year-old Henry, who has been regularly overlooked this summer and then brought in as injury cover, took 3-20 in his first four overs at Eden Park as he and Trent Boult reduced the visitors to 41 for six in their pursuit of 308 to win.They were helped by an lbw decision against David Warner, who was told not to review by partner George Bailey despite the opener�s concerns about the height.Ball tracking suggested the ball would have gone well over the stumps, causing Warner to slam his bat into his pads as he watched the replay on the big screen.Wicketkeeper Matthew Wade (37) and all-rounder James Faulkner (36), however, then put on 79 runs to partially resurrect Australia�s innings as they chased New Zealand�s 307-8.Once Wade holed out at deep midwicket in the 21st over and Faulkner was bowled by Adam Milne in the 22nd, the match was all but over and they were bowled out for 148 in just 24.2 overs.Henry finished with 3-41, while Boult had 3-38. Mitchell Santner bowled just two balls and took the last two wickets.Martin Guptill top scored for New Zealand with 90, his highest total against Australia and his 29th one-day international half century.The 29-year-old opener, who hit one of his five sixes onto the roof of the stand at the Auckland venue, shared in partnerships of 79 runs with captain Brendon McCullum (44) and 100 with Henry Nicholls (61).New Zealand, who were asked to bat by Australia captain Steve Smith, had initially looked on course to set a total well in excess of 320 but lost wickets at critical times when batsmen looked set to push on.John Hastings was the most economical of the visiting bowlers with 1-39 from 10 overs, while fifth seamer Mitchell Marsh had figures of 2-35 from seven.The three-match one-day international series moves on to Wellington on Saturday with the sides also scheduled to play two Tests. (Reuters)��
 Quetta Gladiators won the toss and elected to field, inviting Islamabad United to bat first in the very first T20 match of the Pakistan Super League (PSL) tournament here at the Dubai International Stadium on Thursday night.Earlier, the PSL was inaugurated amid fireworks, colourful display of lights and a music show witnessing performances from various artists including Sanam Saeed, Mohib Mirza, Ali Zafar and Sean Paul.A total of five franchises are taking part in the cricket league named after each provincial capital and the federal capital of Pakistan. Lahore Qalandars, Karachi Kings, Quetta Gladiators, Peshawar Zalmi, and Islamabad United will take on each other to claim the trophy.
 Renowned Pakistani and international superstars including Ali Zafar, Sean Paul, Mohib Mirza and Sanam Saeed performed at the opening ceremony to kick off the much-awaited Pakistan Super League (PSL) Twenty20 cricket tournament here at the Dubai International Cricket Stadium on Thursday night.All eyes were on the opening ceremony after the lucrative cricket league had garnered a lot of hype in the national as well as international media.The inaugural edition of Pakistan Super League will formally start with an encounter between �Islamabad United� and �Quetta Gladiators� later tonight.Before the ceremony, hip-hop and R&amp;B sensation from Jamaica Sean Paul said he was optimistic about the success of the tournament. He said cricket and music have something in common to entertain people.�I have strong bond with cricket as I have played cricket in my school days and I wanted to become a fast bowler like Curtly Ambrose. But I am happy what I am today and my job is to entertain people. I hope we are having a very good series called the PSL�.Pakistani star Ali Zafar also shared his views about the tournament saying, �I am unable to express my happiness that the PSL is going to happen at last. I feel honoured to be part of the project and hope to see a great contest during the series since Shahid Afridi and Chris Gayle are here to entertain us with fours and sixes�.There are five franchises partaking in the cricket league named after each provincial capital and the federal capital of Pakistan. The Karachi Kings, Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators and Islamabad United will compete with each other to lift the trophy.Geo Super has made special arrangements for the live broadcast of the PSL. Our expert�s panel in Super Eye will give in-depth analyses and viewpoints on the ever-changing game situation and performance evaluation of teams and players.All franchises have a beautiful mix of foreign and local players. Hence exciting matches are expected especially traditional rivalry between Karachi and Lahore will be the talk of the town throughout the event.In Lahore Qalandars, Gayle Storm, Dwyane Bravo, and Kevon Cooper will be in action against their rivals. However, cricket lovers will also witness Sharne Watson, Andrew Russell, Misbah-ul-Haq, Boom Boom Afridi, Wahab Riaz, Kevin Peterson, Sarfraz Ahmed, Umer Gul, Shoaib Malik, Ravi Bopara and many other stars of cricket in different matches.Former Pakistan cricketers Rameez Raja and Waseem Akram have been named as ambassadors for the PSL. The 21-day inaugural event is to be regulated by the ICC. The 2016 schedule comprises a double round robin and play offs format. Top four teams will progress to play offs.The top two teams will play the first qualifier, while the loser of the 1st qualifier and winner of the 2nd playoff will meet in playoff. Winners of play off 1 and 3 will meet in the final. There will be a total of twenty-four matches (day/night) in the tournament. Fifteen Matches, including all three play offs and final will be played at Dubai International Cricket Stadium.
 The International Cricket Council (ICC) borad has decided to revoke the special status of �Big Three� � BCCI, CA and ECB � and will try to reestablish the �independent� position of its chairman at the earliest.</strongThe decisions were made at the ICC Board�s first meeting of 2016, held at the ICC Headquarters here on Wednesday.According to a statement issued on Thursday, the board considered amendments that had been made to the ICC�s constitution in 2014 and agreed that, in order to avoid any potential conflicts of interest and to follow best practice principles of good governance, it would seek to reestablish as quickly as possible the �independent� position of ICC chairman.The ICC board unanimously agreed to propose to the full council that a new chairman should be elected by the board for a two-year term starting from June this year through a secret balloting process overseen by the council�s independent audit committee chairman.�While in the office, the ICC Chairman will not be allowed to hold any post with any Member Board and may be re-elected at the expiry of the term with a maximum limit of three terms,� said the statement.In order to qualify to contest the election, it was agreed that all nominees must be either a past or present ICC board director and should have the support of at least two full member directors.The board also agreed to approve changes to the terms of reference of the Finance &amp; Commercial Affairs Committee and Executive Committee in a bid to remove the permanent positions for the nominees of the Board of Control for Cricket in India (BCCI), Cricket Australia (CA) and the England and Wales Cricket Board (ECB) on these committees.The ICC will allow fair access to membership for all full and associate member directors, with the sole criteria being the skill, competence and experience of the relevant director.The present composition of the committees will be reviewed in their entirety in June 2016, it said.Moreover, the ICC board also agreed to carry out a complete review of the 2014 resolutions and constitutional changes with a view to establishing governance, finance, corporate and cricketing structures that are appropriate and effective for the strategic role and function of the ICC and all of its members.The board directed that the ICC�s constitution be reviewed in its entirety and urged all members to provide feedback on the issue to the management during the next few weeks.ICC Chairman Shashank Manohar constituted a five-member steering group, which he will will lead and also include the respective chairmen of the ICC�s governance review committee, executive committee, finance &amp; commercial affairs committee and associate/affiliate member group, and will be supported by various members of ICC management.The steering group will report on progress at the April 2016 meeting, with a view to putting forward any required changes to the meetings during the ICC Annual Conference week in June 2016.In a further attempt to improve the governance standards of, and transparency within, member boards, the ICC board agreed to reinstate a previous requirement that full members must submit to the ICC their latest audited statements on an annual basis, as is already the case with all associate and affiliate members.With an aim to improve relationships with the members and cricket stakeholders from around the world, the board decided that three of the four meetings of the year will take place in member countries outside of the UAE.�This year�s ICC Annual Conference will take place in Edinburgh from 27 June to 2 July, while venues for the April and October meetings will be announced in due course.�Shashank Manohar was quoted as saying: �We had very purposeful and positive meetings, and the decisions taken clearly reflect that we collectively want to improve the governance in a transparent manner, not only of the ICC but also the Member Boards.This, in turn, will enhance the image and quality of the sport. No Member of the ICC is bigger than the other and I am determined to make a meaningful contribution in this regard with support of all the Members.��
 As many as 146 students of Army Public School (APS) Peshawar Thursday left for Dubai with staff members to attend the inauguration ceremony of the Pakistan Super League (PSL).</strongAccording to details, the group of 146 students from APS left for Dubai at 12p.m. today from Bacha Khan International Airport here.Pakistan�s Twenty20 skipper Shahid Afridi, days earlier, had announced to fly 150 students of APS to Dubai for opening ceremony on behalf of Peshawar Zalmai whom he is leading.The young cricket lovers adorning Peshawar Zalmi�s kits would support Shahid Afridi during the PSL.The first game of the first ever international T20 league of Pakistan will be played today at 9 p.m. between Islamabad United and Quetta Gladiators at Dubai Cricket Stadium.The league features five teams Islamabad United, Karachi Kings, Lahore Qalandars, Peshawar Zalmi and Quetta Gladiators.
 Australia has banned women�s cricketer Piepa Cleary for six months, with another 18 months suspended, for placing bets on a men�s test match between Australia and New Zealand in November.</strongThe 19-year-old Cleary, who plays for Western Australia state, had placed six bets totalling A$15.50 ($11.10) on the match at Adelaide Oval."CA has imposed a 24-month period of ineligibility on Cleary of which 18 months are suspended on condition that she commits no further offences under the (Anti-Corruption) Code," Cricket Australia said in a media release on Thursday."She is also required to participate in anti-corruption player education programs delivered by CA in future."The penalty bans Cleary from all domestic and international cricket, including cricket-related functions and events.It follows a 24-month suspended sentence given to Sydney-based women�s cricketer Angela Reakes in December for placing five bets worth a total of A$9 on the man-of-the-match for the cricket World Cup final last March.Cricket Australia said there were "aggravating factors" in Cleary�s case, including that she had received face-to-face anti-corruption training two months before she placed the bets."Bets totalling $15.50 might seem small but it doesn�t matter," Cricket Australia Integrity Unit boss Iain Roy said."We take a zero tolerance approach to any form of gambling on cricket by players in order to protect the integrity of the game."
 �Peshawar Zalmi made 145-7 against Islamabad United after their captain Shahid Afridi won the toss and elected to bat in the third match of the Pakistan Super League (PSL) T20 tournament here at Dubai International Cricket Stadium on Friday.Bangladesh opener Tamim Iqbal was the only batsman to score fifty while no other player could make more than 16.Right-arm fast bowler Andre Russell was the most successful bowler for the Islamabad United with three wickets for 31 from four overs.A 150-member delegation of the children of Army Public School is also present in the stadium to support their team Peshawar Zalmi.��
 In the second match of the Pakistan Super League, Karachi Kings defeated Lahore Qalandars by seven wickets here on Friday.Shoaib Malik led the team well, leading from the front as he opened the bowling to dismiss dangerous batsman Chris Gayle in the very first over and finally hit a superb six to seal the win.However, it was fast bowler Mohammad Amir who earlier, playing his first match in the event, performed a hat-trick to help Karachi Kings restrict Lahore Qalandars to 125 for eight in the allotted 20 overs.Then, a 109-run third wicket partnership between Lndl Simmons and Shakib Al-Hasan made the chase easy after making a disastrous start, losing two early wickets for just four runs on the board.Simmons remained not out on 62, facing 46 balls and hitting eight fours and two sixes while Shakib made 51 off 35 balls with three fours and as many sixes.Earlier, Karachi Kings captain Shoaib Malik won the toss and put the opponents into bat. He removed star West Indian batsman Chris Gayle in the first over. Gayle was caught by England�s James Vince for six with a four.Qalandar lost their second wicket on 37 when captain Azhar Ali was bowled by Shakib Al-Hasanfor 18. Later, Cameron Delport was run out on 17 when Qalandars were 54 in 9.4 overs.Then, Imad Waseem got rid off of Sohaib Maqsood, who made 22 off 27 balls, and Qalandars were 80 for four in 14 overs.In the 19th over, Amir played havoc with the ball dismissing Dwayne Bravo on the 2nd, Zohaib Khan on the 3rd and Kiwon Kooper on the 4th ball to become the first bowler in the PSL to claim a hat-trick.Sohail Tanveer got the Qalandars� eighth wicket in the final over of the innings when he clean bowled Mohammad Rizwan, who hit 37 off 31 balls.In the end, Shakib Al-Hasan was named the Player of the Match for his all round performance in the match.�
 Fast bowler Mohammad Amir playing his first match in the Pakistan Super League performed a hat-trick to help Karachi Kings restrict Lahore Qalandars to 125 for eight in the allotted 20 overs./>Winning the toss, Karachi Kings captain Shoaib Malik put the opponents into bat and opened the bowling himself to remove star West Indian batsman Chris Gayle in the first over. Gayle was caught by England�s James Vince for six with a four./>Qalandar lost their second wicket on 37 when captain Azhar Ali was bowled by Shakib Al-Hasanfor 18. Later, Cameron Delport was run out on 17 when Qalandars were 54 in 9.4 overs./>Then, Imad Waseem got rid off of Sohaib Maqsood, who made 22 off 27 balls, and Qalandars were 80 for four in 14 overs./>In the 19th over, Amir played havoc with the ball dismissing Dwayne Bravo on the 2nd, Zohaib Khan on the 3rd and Kiwon Kooper on the 4th ball to become the first bowler in the PSL to claim a hat-trick./>Sohail Tanveer got the Qalandars� eighth wicket in the final over of the innings when he clean bowled Mohammad Rizwan, who hit 37 off 31 balls.
 In-form batsman Usman Khawaja has been recalled to the Australian side as the world champions fight to stay alive in their one�day international series against New Zealand on Saturday.Victory for New Zealand at their Westpac Stadium fortress would see them wrap up the series with a game to spare and snap a remarkable run by Australia who have won their last six ODI series and the World Cup over the past two years.Shaun Marsh was surprisingly preferred to Khawaja in the team thrashed by 159 runs in Auckland on Wednesday in the first tie of the three�match series.Australia have also brought in leg-spinner Adam Zampa for the second round in Wellington to replace injured quick James Faulkner.Khawaja who has not played an ODI for three years but scored centuries in three consecutive Tests against New Zealand and the West Indies late last year said Australia have already put the ODI humiliation behind them.The 29-year-old Pakistan�born left�hander also downplayed his golden run of form in Tests saying the ODIs in New Zealand conditions were a new challenge.New Zealand have an air of confidence playing at Westpac where they have lost only eight of 26 ODIs and opener Martin Guptill smacked an unbeaten 237 in a World Cup fixture against the West Indies a year ago. Guptill hit 11 sixes and 24 fours in that innings and remains in rich form with a topThe Australians came in for a lot of abuse from a partisan crowd in Auckland with several spectators ejected from the ground.The third and final ODI will be played in Hamilton on Monday. (APP/AFP) ��
 England�s T20 expert Luke Wright scored impressive 86 to steer Quetta Gladiators to their first triumph against Islamabad United at the opening match of Pakistan Super League (PSL) by 8 wickets here at the Dubai International Stadium in the early hours of Friday.In pursuit of a mediocre target of 129, Wright showed no respect to any of Islamabad�s bowlers hitting 4 sixes and 11 fours in his innings. Mohammad Nawaz, who took four wickets in restricting Islamabad to 128 for 7, also remained not out on run a ball 22. <br/>Gladiators nailed the target with full four overs in hand.Earlier, Islamabad United skipper Misbah-ul-Haq and Andre Russell tried to resurrect the disappointing innings after they were reduced to 63 for 6 in the 15th over.Misbah however trapped by a slow bouncer by Anwar Ali in the penultimate over after scoring 41 in 28 balls. Russell remained not out on 35 off 20 balls.Rookie bowler Nawaz took four wickets for only 13 runs in his quota of 4 overs. Anwar Ali, Zulfiqar Babar and Umar Gul shared a wicket each for the Gladiators.Earlier, Sarfraz Ahmed had won the toss and invited Islamabad United skipper Misbah-ul-Haq to bat first.The two sides have a strong domestic contingent. As many as eight players from the set-up have played for Pakistan.
 Ahmed Shahzad with his impressive innings lead Quetta Gladiators to its win against Karachi Kings by 8 wickets in the fourth match of Pakistan Super League (PSL) here on Saturday.The Gladiators secured a comfortable win against Karachi by chasing the target of 148 in just 17.2 overs for 2 wickets.Ahmed Shahzad scored remarkable 71 off 46 deliveries and clinched the title of man of the match. His superb innings consisted of 5 fours and 6 sixes.Luke Wright made 47 runs.Kevin Pietersen and Sarfaraz Ahmed remained not out with 29 and 2 runs respectively.Quetta Gladiators also secured a total of 4 extras.Ammad Waseem and Shakaibul Hassan took one wicket each for Karachi Kings.
 Australia's Shane Watson attracted a top bid of $1.4 million and will join the Bangalore franchise for the next edition of the Indian Premier League Twenty20 tournament, while former England skipper Kevin Pietersen was bought by newcomers Pune.All-rounder Watson, who had a base price of 20 million rupees ($295,000), was in high demand in Saturday's auction for the cash-rich tournament, the ninth edition of which will be played from April 9 to May 29."Incredibly excited to join such a great franchise. Looking forward to joining up with my new team mates in April," the 34-year-old said on Twitter.The right-handed batsman, who also bowls medium pace, will join a Bangalore team already boasting power-hitters Chris Gayle, AB de Villliers and Virat Kohli, and who have Australia's pace spearhead Mitchell Starc in their ranks.Aaron Finch, Australia's captain in the shortest form of the game, went unsold after injuring his left hamstring during a T20 match against India in Melbourne last month.In-form New Zealand opening batsman Martin Guptill was also unsold in the first round of auctions for marquee players.Pune, to be led by India's limited-overs captain Mahendra Singh Dhoni and coached by former New Zealand skipper Stephen Fleming, outbid fellow newcomers Rajkot to land Pietersen for 35 million rupees.Pune and Rajkot were unveiled as the new teams in the Twenty20 competition in December, replacing Chennai Super Kings and Rajasthan Royals.The franchise owners of Rajasthan and Chennai were suspended for two years by the Indian cricket board in July for their role in an illegal betting scandal that erupted in 2013.Pietersen, who has been plying his trade in T20 leagues around the world after England shut the selection door on its controversial former captain, was the first player to be sold at the auction on Saturday.All-rounder Yuvraj Singh, who fetched 160 million rupees at last year's auction, attracted the highest bid among Indian players on Saturday and will play for the Hyderabad franchise after being bought for 70 million rupees.Hyderabad also spent 55 million rupees on Ashish Nehra, the 36-year-old fast bowler who has also been included in India's World Twenty20 squad.�
 Mitchell Marsh kept calm after New Zealand got the sniff of an unlikely victory and scored his sixth one-day international half century to guide Australia to a four-wicket win in the second match of their one-day series on Saturday.The victory levelled the three-match series at 1-1 with the final game in Hamilton on Monday.Australia have not lost a bilateral one-day series since India in October, 2013.Marsh scored an unbeaten 69 and combined with John Hastings (48 not out) in an unbroken 86-run seventh-wicket partnership for the visitors as they overhauled New Zealand�s 281 for nine with 3.3 overs remaining.David Warner top scored with 98 in Australia�s 283-6, and combined with the recalled Usman Khawaja (50) in a 122-run opening stand that had set the foundation for their victory.Mitchell Santner had almost taken the game away from the visitors with his left-arm spin, breaking the opening partnership and then trapping Warner leg before when the aggressive opener was within sight of his sixth one-day century.Santner then had Matthew Wade brilliantly caught in the deep by Adam Milne for two to reduce the visitors to 197 for six in the 33rd over and give the hosts a sniff of victory in a game they had not played well enough to win.Too many overs were peppered with boundary balls as they struggled with their length on a wicket that had little help for the bowlers.They had also not posted a big enough target as their innings suffered from fits and starts with all of the batsmen, apart from Henry Nicholls, laying solid foundations only to fall when they needed to build.Kane Williamson top-scored with 60, though the hosts� total was only pushed to a score considered defendable courtesy of a 61-run eighth-wicket stand between Santner (45 not out) and Milne (36).The 24-year-old Santner, who only made his international debut last year, is quickly impressing as an automatic selection in all formats of the game with his fluid batting and handy left-arm spin. (Reuters) -Saturday�s match showcased his blossoming capabilities, with New Zealand slumping to 193 for six in the 37th over and in danger of being bowled out before their full allocation.Santner, who was joined by the right-handed Milne 12 runs later, however kept the strike ticking over to put the bowlers off their rhythm, turned singles into twos with hard running and hit the bad ball to the boundary.Opening bowler Josh Hazlewood, however, ended the partnership, and stopped New Zealand from edging closer to a more competitive 300, to finish with 3-61 from 10 overs.�
 New Zealand tallied 281 for 9 in Wellington despite a much improved Australian bowling and fielding effort in a match the visitors must win to keep the Chappell-Hadlee series alive.Kane Williamson made a smooth 60 but it was a late-innings partnership of 61 from 44 balls between Mitchell Santner and Adam Milne that added heft to the innings after the Australians had claimed regular wickets throughout the afternoon.Legspinner Adam Zampa bowled well in his first international match to claim the wickets of Williamson and Grant Elliott, while John Hastings, Josh Hazlewood, Scott Boland and Mitchell Marsh also put in decent shifts with the ball.Nevertheless, Australia must perform far more staunchly with the bat than they managed in the series opener at Eden Park if they wish to force a decider at Seddon Park in Hamilton in two days' time. Usman Khawaja, among others, will be eager to make a difference.Australia made three changes to the team that was given a hiding in Auckland, dropping Shaun Marsh for Khawaja, while Boland came in for Kane Richardson due to back soreness, and the debutant Zampa was called up in place of the injured James Faulkner. Zampa had his ODI cap presented to him by Allan Border.New Zealand, by contrast, were unchanged, in a match where they can complete a series victory over Australia for the first time since 2007. Their captain Brendon McCullum led a typically hyperactive start to proceedings, clattering 28 from 12 balls including a six off each of the Australia pacemen.Boland's very first ball was sent flying back over his head and into the sight screen, but he responded well by pulling back his length and being rewarded when McCullum charged again and was bowled. That wicket scotched much of the early momentum, even if Martin Guptill and Williamson moved along smoothly enough for the next 11 overs.It was Mitchell Marsh who broke the stand, prompting a miscue from Guptill when he tried to force the pace a little more. The chance swirled out towards deep cover, where Khawaja showed excellent judgment to claim a catch more difficult than it appeared. Marsh had another victim when Henry Nicholls, called up to the Test team this week, wafted at a wide delivery. New Zealand had stalled.Williamson and Elliott formed another useful stand without ever looking in total command. This was in part due to the thoughtful work of Zampa, who varied his pace artfully to keep the batsmen guessing. His reward would come in consecutive overs, as first Williamson then Elliott pushed catches to cover as they tried to manufacture boundaries.That put New Zealand five down, and regular wickets from there prevented the hosts from pulling together a total of the dimensions they managed at Eden Park. Santner and Milne pulled back some of the ground in the closing overs, but the tourists could be happier with their effort.�
 New Zealand captain Brendon McCullum won the toss and chose to bat first against Australia in the second Chappell-Hadlee ODI at Westpac Stadium in Wellington.Australia made three changes to the team that was given a hiding at Eden Park, dropping Shaun Marsh for Usman Khawaja, while Scott Boland came in for Kane Richardson due to some back soreness, and the debutant Adam Zampa came into the side in place of the injured James Faulkner. Zampa had his ODI cap presented to him by Allan Border.New Zealand, by contrast, were unchanged, in a match where they can complete a series victory over Australia for the first time since 2007.The pitch is firm and the weather is pleasant, with plenty of runs in prospect for the afternoon.Teams:New Zealand: Martin Guptill, Brendon McCullum (captain), Kane Williamson, Henry Nicholls, Grant Elliott, Corey Anderson, Luke Ronchi (wk), Mitchell Santner, Adam Milne, Matt Henry, Trent Boult.Australia: Usman Khawaja, David Warner, Steven Smith (captain), George Bailey, Glenn Maxwell, Mitchell Marsh, Matthew Wade (wk), John Hastings, Adam Zampa, Scott Boland, Josh Hazlewood.�
 A skilful performance from the left-arm duo of Mohammad Asghar and Wahab Riaz sealed Peshawar Zalmi's 24-run win in their opening fixture against Islamad United.Defending 145, Asghar's slow, loopy spinners derailed Islamabad's top order. He dismissed Babar Azam for a duck in his first over, Umar Amin for four in his second and then got the big wicket of Misbah-ul-Haq for 12 as Islamabad lost half their side for 66 runs. Shane Watson, who made 28, was their top-scorer, but he was dismissed by Wahab in the ninth over.Sam Billings and Andre Russell resisted, but both of them fell off successive balls and Wahab finished with 3 for 32. Asghar had a hand in those wickets too - he clung on to two sharp chances on the cover boundary and later played them down by saying he had large hands like most Pathans and so it would be hard to drop catches. So United fell to 121 for 9 and their second defeat in as many matches.In the first innings, Peshawar managed to reach 145 with Tamim Iqbal making a run-a-ball half-century. It ended up a crucial contribution considering Peshawar, having chosen to bat, had stumbled to 88 for 4 in the 15th over and needed a set batsman in the middle for Shahid Afridi and Darren Sammy to go hard at the other end. Their late hitting pushed the total past 140 in the death, though, none of Peshawar's batsmen, barring Tamim, managed a score more than 16. For Islamabad, Russell took 3 for 31.�
� Darren Sammy�s brilliant 48 steered Peshawar Zalmi to 135 for seven in 20 overs against Quetta Gladiators in the seventh T20 match of the Pakistan Super League here at the Dubai International Cricket Stadium on Sunday.Sent into bat by Quetta Gladiators captain Sarfraz Ahmed, Zalmi�s batsmen could not resist against the opponents� bowling except Sammy.Slow left-arm bowler Mohammad Nawaz� captured three wickets for 29 and fast-medium bowler Umar Gul bagged two for 19 for Quetta Gladiators.�
 Pakistan earned victories in squash of the South Asian Games underway in India.In the semi finals of Men Event (Individual) Farah Zaman (Pakistan) beat Sauruw Ghosal (India) 11-4, 11-5, 10-12, 11-5, says a press release issued here.Nasir Iqbal �(Pakistan) beat Harinder Pal Singh Sidhu (India) 11-7, 12-14, 11-7, 11-6.In the Women Event (Individual), Maria Toorpakai Wazir (Pakistan) beat Milhiya Methsarani (Sri Lanka) 11-8, 6-11, 11-2, 11-2.Joshna Channapa (India) beat Saida Gul (Pakistan) 11-9, 11-7, 11-9. (APP)�
 Islamabad United recorded a sensational two-run victory over Karachi Kings in a low-scoring thriller here at the Dubai International Stadium on Sunday.Islamabad United, who had lost their opening two matches in the tournament, posted a modest 132 runs for eight wickets from the allotted 20 overs.Only Khalid Latif (39), Sharjeel Khan (28) and Mohammad Sami (20 not out) could show any resistance against Karachi bowlers.When Karachi Kings batted to chase 133, Lendl Simmons and James Vince went cheaply but Imad Wasim batted well to hit 29 from 17 before edging behind to Sam Billings off Andre Russell.However, off-spinner Saeed Ajmal came in the way of Karachi Kings run chase making dent with three crucial wickets.Although Ravi Bopara, who was the leading wicket-taker and run-getter for his side, took Kings to the point where a boundary off the last ball would have won them the game, Shane Watson kept him to just a single.The second match of the day will be played between Peshawar Zalmi and Quetta Gladiators, both having played two matches and won the same.�
 Pakistani swimmer Lianna Catherine Swan won a gold medal in the women�s 200m breaststroke on Saturday at the 12th South Asian Games in Guwahati, India.</strongSwan completed the competition in 2:48.85. Hasanthi Nugawela (2:49.17) of Sri Lanka came second while Romana Akter (2:49.60) of Bangladesh finished third.This is Pakistan�s first gold medal in the South Asian Games 2016.Pakistan also won a bronze in 4x100m freestyle quartet in the female relay while �India won gold and Sri Lanka bagged a silver.�
 Karachi Kings restricted to Islamabad United to 132 for eight in 20 overs in the sixth match of the Pakistan Super League (PSL) here at the Dubai International Cricket Stadium on Sunday.After Karachi Kings captain Shoaib Malik won the toss and sent Islamabad United into bat, Misbah�s army failed to make a good score. Only Khalid Latif (39), Sharjeel Khan (28) and Mohammad Sami (20 not out) could show any resistance against karachi bowlers.For Karachi Kings, medium-pacer Ravi Bopara claimed two wickets for 25 runs.This is the third game in the competition for both the sides.Islamabad United, led by Misbah-ul-Haq, are yet to win in the league, beaten comprehensively by both Quetta Gladiators and Peshawar Zalmi in their first two games. They are yet to click as a team, failing with both the ball and the bat, which is surprising considering the resources at their disposal.On the other side, Karachi Kings in the two games they have played so far have blown hot and cold. In their first game they looked unbeatable, defeating Lahore Qalandars but performed poorly in the second, losing to Quetta Gladiators.Karachi Kings have included Usama Mir in place of out-of-form Nauman Anwar while Islamabad United have made two changes to the side, bringing Khalid Latif and Muhammad Sami.��
 Karachi Kings captain Shoaib Malik won the toss and decided to field against Islamabad United in the sixth match of the Pakistan Super League (PSL) here at the Dubai International Cricket Stadium on Sunday.This will be the third game in the competition for both the sides.Islamabad United, led by Misbah-ul-Haq, are yet to win in the league, beaten comprehensively by both Quetta Gladiators and Peshawar Zalmi in their first two games. They are yet to click as a team, failing with both the ball and the bat, which is surprising considering the resources at their disposal.On the other side, Karachi Kings in the two games they have played so far have blown hot and cold. In their first game they looked unbeatable, defeating Lahore Qalandars but performed poorly in the second, losing to Quetta Gladiators.Karachi Kings have included Usama Mir in place of out-of-form Nauman Anwar while Islamabad United have made two changes to the side, bringing Khalid Latif and Muhammad Sami.�
The International Cricket Council (ICC) on Sunday banned Pakistani leg-spinner Yasir Shah from participating in all cricketing events for three months after he tested positive test results came out positive for a prohibited substance in December."Shah has been suspended from all cricket-related activities for three months after pleading guilty to breaching Article 2.1 of the ICC Anti-Doping Code," said the ICC in a release."Shah had provided a urine sample as part of the ICC�s random in-competition testing programme after the conclusion of the one-day international between England and Pakistan in Abu Dhabi, UAE on 13 November 2015."His sample was subsequently tested and found to contain chlortalidone. This is classified as a "Specified Substance" under World Anti-Doping Agency�s Prohibited List and is prohibited both in-competition and out-of-competition."Shah has emerged as a match-winner for Pakistan in Tests after ace spinner Saeed Ajmal lost form due to having to remodel an illegal bowling action."Shah admitted the violation and a three-month suspension has been imposed, backdated to 27 December 2015, the day when he was provisionally suspended. Shah will, therefore, be eligible to return to cricket on 27 March 2016."ICC said it accepted that the doping offence had been inadvertent on the part of Shah as the medication had been taken "for therapeutic reasons, specifically to treat his blood pressure."He was able to satisfy the ICC through evidence and submissions prepared on his behalf by the Pakistan Cricket Board (PCB) that he had no intention to enhance his sporting performance or to mask the use of another performance enhancing substance."He had, instead, mistakenly taken his wife�s blood pressure medication that was identical in appearance to his own but which contained the prohibited substance chlortalidone."The head of the Pakistan Cricket Board's medical panel, Sohail Salim, said he was satisfied with the ICC decision."We are happy that we made a genuine reply in Shah's case," Salim told AFP."At the time of Shah's suspension a lot of former cricketers, experts and doctors were giving their opinions without any knowledge and that was disturbing."Under anti-doping rules Shah could have been hit with a two to four year ban.
 Peshawar Zalmi secured a second consecutive win by defeating Lahore Qalandars by 9 wickets in the fifth match of Paksitan Super League (PSL) here at Dubai International Cricket Stadium in the early hours of Sunday.�Chasing down a mediocre target of 118, Muhammad Hafeez and Tamim Iqbal gave Peshawar Zalmi a solid start of 95 runs. Tamim made his second consecutive 50 and remained invincible at 55 and was declared man of the match.�Hafeez made 43 runs off 37 balls and was sent home by Ajantha Mendis � the only bowler for Lahore Qalandar to take a wicket.�Earlier, Peshawar Zalmi won the toss and invited Lahore Qalandars to bat. Peshwar restricted Qalandars to a meager 117-6.
 Pakistan defeated India in the hockey event in the ongoing South Asian Games here on Monday.</strongPakistan scored two goals while struggling India could only hit one in second half of the match.Fareed ahmed from Pakistan side scored the first goal in the first half while the second was made by Arsalan Qadir in the second half, putting Pakistan in a comfortable position with 2-0.Later, the hosts tried their best to make a come back in the game but could only score a single goal in the second half of the play.Earlier, Pakistan had defeated Sri Lanka in the first match of the event.
 Skipper Shimron Hetmyer and Tevin Imlach hit half-centuries as the West Indies upset Pakistan by five wickets to cruise into the semi-finals of the ICC U-19 Cricket World Cup in Bangladesh on Monday.Hetmyer scored 52 and Imlach made 54 to ensure a gallant 113 by Umair Masood went in vain as the West Indies surpassed Pakistan�s 227 for six with 10 overs to spare. <br/> <br/> The West Indies take on host Bangladesh in the second semi-final in Mirpur on Thursday. India plays Sri Lanka in the first semi-final at the same venue on Tuesday.<br/> <br/> Pakistan�s defeat prevented an all-Asian semi-final despite Umair�s man of the match-winning performance, but the West Indies played better all-round cricket to emerge deserved winner.Umair came to the crease in the 15th over with Pakistan struggling at 40 for four and rebuilt the innings in the company of Salman Fayyaz after half the side was back in the hut by the 21st over.Umair, who had scored 13 not out and 10 in previous matches in the tournament, hit 15 boundaries and two sixes before he was out in the final over.Salman remained unbeaten on a defiant half-century, which included three hits to the fence and a six.The revival came after a two-wicket burst by seamer Chemar Holder and fiery fast bowling by Alzarri Joseph, who conceded just 28 runs in his 10 overs.Once Joseph�s spell finished in the 36th over, Pakistan added a further 109 runs to set the West Indies a challenging target.The Caribbean flair was evident as the West Indies raced to 100 for one by the 16th over.Hetmyer and Imlach put on 77 for the second wicket to take the score to 122 for one, before two needless run outs saw the total slip to 147 for four.Shamar Springer was the fifth batsman to fall for 37 when 38 runs were still needed for victory, but Jyd Goolie (26 not out) and Keemo Paul (24 not out) saw their side home.Pakistan�s captain Zeeshan Malik congratulated the West Indies, but felt his team should have defended its score.Meanwhile, Zimbabwe upset the tournament�s defending champion South Africa by eight wickets to enter the Plate Championship final for teams that finished outside the top eight.Zimbabwe will take on the winner of the other semi-final between Afghanistan and New Zealand in the final on February 12.In a play-off for minor placings, Scotland defeated Fiji by 76 runs in another Plate match in Cox�s Bazar. (PPI)�
 Aaron Finch is to be dumped as Australia's captain in the shortest form of the game and replaced by test skipper Steve Smith just a month before the start of the World Twenty20, The Age newspaper reported on Monday.</strongOpener Finch, who has been struggling with a hamstring injury, was named captain in September 2014 but only skippered the side on six occasions as Australia concentrated on other forms of the game.Cricket Australia will not discuss details of the make-up of the squad for the tournament, which takes place in India from March 8-April 3, until it is announced in New Zealand on Tuesday.Australia have never won the World Twenty20 title in five previous attempts, their best finish coming in West Indies in 2010 when they lost to England in the final.
strong>Brendon McCullum's final one-day international innings ended as spectacularly as it began when the New Zealand captain was dismissed for 47 in the series finale against Australia in Hamilton on Monday.</strongMcCullum, who had hit six fours and three sixes in his 27-ball innings, was well caught by John Hastings at mid-off after charging down the wicket at fast bowling all rounder Mitchell Marsh only to miscue the shot.The 34-year-old was given a standing ovation at the sold out Seddon Park as he walked off and he gave heir apparent Kane Williamson a fist bump in a symbolic passing of the baton.McCullum will retire from all internationals after the second test against Steve Smith's side in Christchurch and he has been greeted by enthusiastic crowds throughout the one-day series, lauding his contribution to the game.On Monday McCullum battled to suppress his emotions during the coin toss, which he unsurprisingly lost, and was greeted by a guard of honour by the Australians with Smith shaking his hand.After being initially cautious, his first four scoring shots were boundaries.His first six, off Scott Boland, was a beautifully timed shot over long off. He hit Boland for two more sixes in the right armer's next over with the second dispatched over mid-wicket to bring up his 200th one-day international six.He is just the fourth player to hit 200 one-day sixes but the only one to have 100 in test cricket as well.He hit his sixth boundary off Mitchell Marshall in the 10th over when he guided the ball to the vacant third man boundary but was dismissed on the next ball with New Zealand 84-1
 Quetta Gladiators clinched its third consecutive win in Pakistan Super League (PSL) against Peshawar Zalmi with three wickets here at Dubai International Stadium in the early hours of Monday.</strongThe two teams fought hard as the result of the match was decided in the last two balls of the final over.Chasing the target of 135, Luke Wright and Ahmed Shahzad gave Gladiators a good start with 35 runs. Shahzad was sent to the pavilion at 16 while Wright scored 35 runs.Kevin Pietersen did try to stay on the crease and made 35 runs. Captain Sarfaz Ahmed scored 21, Akbarul Rehman 11, Muhammad Nawaz 4 and Muhammad Nabi 9.Elton Chigumbura and Anwar Ali remained not out with 7 and 10 runs respectively.Shahid Afridi and Wahab Riaz two wickets each for Peshawar Zalmi while Muhammad Asghar, Shaun Tait and Junaid Khan took one wicket each.Earlier, Quetta Gladiators won the toss and elected to field. Peshawar Zalmi made a mediocre score of 135 runs in their innings.Muhammad Nawaz of Gladiators was declared man of the match for taking three wickets.Zalmi�s captain Shahid Afridi said he is satisfied with his team�s performance and hoped to win more matches in the upcoming contests.
 �Rahul Dravid-coached India stormed into the final of the ICC U-19 Cricket World Cup 2016 with a convincing 97-run win over Sri Lanka in the semi-final in Bangladesh on Tuesday.������������������������������������ <br/> In a match produced by ICC TV and aired around the globe by 15 broadcasters, Anmolpreet Singh scored 72 and Sarfaraz Khan made 59 as India recovered from early setbacks to post 267 for nine after being put into bat on a misty morning in Mirpur.<br/> <br/> Sri Lanka was down to 13 for two in reply before being dismissed for 170 in 42.4 overs to hand three-time champion India its fifth appearance in the final.Skipper Ishan Kishan�s men await the winner of Thursday�s second semi-final between host Bangladesh and the West Indies in the title clash in Mirpur on February 14.India lost openers Rishabh Pant and Kishan by the 10th over to slip to 27 for two in conditions that suited Sri Lanka�s seam bowlers.Sarfaraz and man-of-the-match Anmolpreet revived the innings by adding 96 for the third wicket with a mix of big shots and sharp ones and twos.Sarfaraz hit six fours and a six while Anmolpreet, playing only his second match in the tournament, matched his senior partner with the same number of hits to the fence.<br/> <br/> Sri Lanka grabbed six wickets in the final 10 overs, but India still managed to add 89 runs as Armaan Jaffer pushed the score along with a 16-ball 29.Seamer Asitha Fernando was the most successful Sri Lanka bowler with four for 43, while new-ball partner Lahiru Kumar and spinner Thilan Nimesh picked up two wickets each.Sri Lanka slipped to 42 for three following the loss of skipper and star batsman Charith Asalanka in the 10th over, before Kamindu Mendis (39) and Shammu Ashan (38) engineered a brief recovery.But, once left-arm spinner Mayank Dagar had Mendis caught off a top-edged sweep and Ashan ran himself out, Sri Lanka caved in tamely against the steady India bowlers.Dagar finished with impressive figures of three for 21, while seamer Avesh Khan claimed two for 41.Meanwhile, Afghanistan qualified for the Plate Championship final with an eight-wicket win over New Zealand in Cox�s Bazar.Aniket Parikh�s all-round display of 48 and two for 20 went in vain as the Afghans bowled out New Zealand for 135 and then raced home in the 28th over.Tariq Stanikzai scored 50 and captain Ihsanullah Janat made 47 as Afghanistan set up the Plate final against Zimbabwe in Cox�s Bazar on February 12. �(PPI)�
 �Hasan Mohsin first scored 106-ball 117 and then took four for 42 to help Pakistan U-19 team record a convincing 122-run win against Nepal U-19 in the fifth-place playoff semi-final of the ICC Under-19 World Cup 2016 here at the Khan Shaheb Osman Ali Stadium on Tuesday.After Pakistan lost the toss and made 258 for 8, Nepal was bowled out for 136 in 43.5 overs.A day after losing the Super League quarter-final against West Indies at the same venue, Pakistan started on a shaky note, Aarif Sheikh�s twin strikes reducing it to 3 for 2 in 4.3 overs. Soon, that became 30 for 3 before Saif Badar found the perfect ally in Mohsin.The duo put on 189 runs for the fourth wicket in 31.1 overs before Badar fell to Sandeep Lamichhane, the leg-spinner, in the 45th over. Badar�s patient 88 came off 118 deliveries with six fours and a six.Lamichhane, the only bowler with a hat-trick in this edition, struck twice more. He had Mohsin caught by Dipendra Airee in his next over for a sparkling knock that contained eight fours and three sixes.Two balls later, Lamichhane accounted for Salman Fayyaz, who had been involved in the highest sixth-wicket partnership in the history of Youth One-Day Internationals with Umair Masood in the loss against West Indies.Pakistan added 20 runs after Fayyaz�s dismissal, but already had enough on the board.<br/> <br/> Starting its chase, Nepal lost five wickets in the first ten overs for 29 and never recovered from thereon.Apart from Mohsin�s four-wicket burst, Irfan Liaqat and Saif Ali picked up two wickets each to put a swift end to the game.While Pakistan will take on the winner of the England-Namibia game to decide the fifth place, Nepal will play the loser of that match to decide the seventh-placed team. (PPI)�
 Joe Root�s highest ODI score has left South Africa requiring a record chase if they are to avoid conceding a series-deciding defeat at the hands of England.Root's 125, the highest ODI score made by an England batsman against South Africa, has left the hosts needing to make the highest successful chase in an ODI at Centurion. West Indies' 300 for three, scored in 2004, is the record to date.In these days of great expectations of ODI scores, England's total of 318 for eight may not seem particularly extravagant. But on a cracked, two-paced pitch that challenges batsmen with uneven bounce, it is likely to prove a challenging target.South Africa lost the first two ODIs of the five-match series and are in danger of conceding defeat in the Test and ODI series to the same opposition during a home tour for the first time in 14 years.By the time South Africa struck for the fourth time, they could have been quietly satisfied with their work. Jos Buttler, again promoted to No. 4 to build upon the strong start from England's top order, had fallen first ball clipping to an intriguingly placed leg gully, while Eoin Morgan had laboured for 24 deliveries over his eight runs.But then Ben Stokes joined Root in a fifth-wicket stand of 82 in eight overs that took England's total from the average to the strong.�
 the 41st national Snooker Championship will be played in Karachi from February 15 and all the two finalists of the event will later represent Pakistan in the Asian Snooker Championship.This was told by Alamgir Shaikh, chief of the Pakistan Billiards and Snooker Association, during a press conference here on Tuesday.He said that eleven players would participate in the championship and they would be divided into eight groups.Former national champion Mohammad Yousuf has been given a wild entry while Hamza Akbar will defend his title in the event.Meanwhile, Pakistan number one Mohammad Asif has been declared top seed of the tournament.The final will be played on February 27 and both the finalists will represent Pakistan in the Asian Snooker Championship to be held in Doha, Qatar in April.�
 England won the toss and decided to bat in the third one�day international against South Africa at SuperSport Park Centurion on Tuesday.England leading the five�match series 2�0 fielded an unchanged team for the third successive match.South Africa made one change from the team beaten by five wickets in Port Elizabeth on Saturday.All�rounder David Wiese replaced batsman Rilee Rossouw.TeamsSouth Africa: AB de Villiers (captain), Hashim Amla, Quinton de Kock (wkt), Faf du Plessis, JP Duminy, Farhaan Behardien, David Wiese, Kagiso Rabada, Kyle Abbott, Morne Morkel, Imran Tahir.England Eoin Morgan (captain), Jason Roy, Alex Hales, Joe Root, Ben Stokes, Jos Buttler (wkt), Moeen Ali, Chris Jordan, Adil Rashid, David Willey, Reece Topley. (APP/AFP) ��
strong>Barcelona striker Lionel Messi is expected to play in Wednesday's King's Cup semi-final against Valencia despite missing training on Monday to have tests on his kidneys, the La Liga club said.</strong"Barcelona striker Lionel Messi will undergo several tests on Monday and Tuesday to assess the evolution of the kidney problems he suffered last December," Barcelona said in a statement on their website."Messi will return to his normal duties with the first team on Wednesday."The Argentina international missed his team's FIFA Club World Cup semi-final in December as he was suffering from renal colic, a type of abdominal pain often caused by kidney stones.Despite the problem, he played in the final three days later and has also played in all of Barca's league games since.Barcelona visit Valencia in the second leg of their King's Cup semi-final on Wednesday. The La Liga leaders take a 7-0 lead into the match.
 Lahore Qalandars secured their impressive maiden win after defeating the Quetta Gladiators by 63 runs in the eighth match of Pakistan Super League (PSL) here at Dubai International Stadium in the early hours of Tuesday.</strongQalandars had a set a huge target of 93 runs with the help of Umer Akmal�s splendid 93 runs and Cameron Delport�s 73.Later, Lahore got all the players of Quetta out for 131 runs, clinching a stunning victory by 63 runs.Umer Akmal with his fiery 93 runs off 40 balls with the help of 8 sixes and six fours was declared man of the match.Cameron Delport also showed no respect to the Gladiators bowlers and scored a superb 73 runs off 55 balls. His innings included 8 fours and 3 sixes.
 Lahore Qalandars set a rather difficult target of 167 runs for Islamabad United in the ninth Twenty20 match of the Pakistan Super League 2016 here on Wednesday.After sent into bat by Islamabad United, Lahore Qalandars were losing wickets at regular intervals but later an aggressive batting display by Mohammad Rizwan they made a good score of 166-6 in the allotted 20 overs.Rizwan remained not on 50, facing just 27 balls. He smashed three sixes and five boundaries.Other significant contributors were captain Azhar Ali (27), Darren Bravo (26), Naved Yasin (25) and Umar Akmal (23).For Islamabad United, fast bowler Mohammad Sami captured two wickets for 21.�
 England have named uncapped Hampshire all-rounder Liam Dawson in their 15-man squad for the World Twenty20 to be staged in India next month, but there was no dramatic recall for Kevin Pietersen.Dawson, who turns 26 next month, has performed well with the England Lions side that recently played Pakistan A in the UAE and will link up later this week with the senior squad that is currently in South Africa."Liam Dawson has been selected after consistently strong performances for the Lions recently against Pakistan A. As a left-arm spinning all-rounder he will be a very useful addition particularly in sub-continent conditions," selector James Whitaker said in a media release on Wednesday.Pietersen�s form in recent domestic Twenty20 tournaments in South Africa and Australia had led to calls for his return to the side, though these were quickly snuffed out by captain Eoin Morgan this week.Fast bowler Steven Finn has been selected despite sitting out the limited overs portion of the South Africa tour with a side-strain. It means there is no place for the number one Test bowler Stuart Broad, who misses his first World Twenty20 tournament.England have also strengthened their management team with the return of former Sri Lankan batsman Mahela Jayawardene for the first 10 days of the tournament.Ex-England Twenty20 captain Paul Collingwood will also work alongside Trevor Bayliss, Paul Farbrace and Ottis Gibson for the duration of the event.England open their World Twenty20 campaign against West Indies on Mar.16 and will also play South Africa, Sri Lanka and a first round qualifier from Group B that includes Scotland, Zimbabwe, Afghanistan and Hong Kong.England were World Twenty20 champions in 2010 when they won the tournament staged in the West Indies.Squad: Eoin Morgan (captain), Moeen Ali, Sam Billings, Jos Buttler, Liam Dawson, Steven Finn, Alex Hales, Chris Jordan, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, Reece Topley, James Vince, David Willey. (Reuters)�
 Islamabad United stand-in captain Shane Watson won the toss and decided to field foirst against Lahore Qalandars in the ninth Twenty20 match of the Pakistan Super League 2016 here on Wednesday.Watson is leading Islamabad United in the absence of injured Misbah-ul-Haq while Chris Gayle is also not playing due to flu. �TeamsIslamabad United : Shane Watson (captain), Sharjeel Khan, Khalid Latif, Sam Billings, Kamran Ghulam, Brad Haddin (wk), Imran Khalid, Andre Russell, Mohammad Sami, Rumman Raees, Saeed Ajmal.Lahore Qalandars: Azhar Ali (captain), Cameron Delport, Naved Yasin, Umar Akmal, Mohammad Rizwan (wk), Darren Bravo, Zohaib Khan, Zafar Gohar, Kevon Cooper, Ehsan Adil, Ajantha Mendis.��
 The Pakistan Cricket Board (PCB) Wednesday announced a 15-member women�s team for the upcoming Women's Twenty20 World Cup to be staged in India.PCB Chairman Shaharyar Khan has approved the women�s team as well as five stand-bys picked up by the Women s National Selection Committee compromising of �Farrukh �Zaman, Urooj Mumtaz Khan and Syed Ali Naqvi, says a press release issued here.The players include Javeria Wadood, Bibi Nahida, Sidra Amin, Bisman Maroof, Muneeba Ali Siddiqui, Sana Mir (Captain), Nida Rashid, Iram Javed, Asmavia Iqbal Khokhar, Anam Amin, Sania Iqbal, Sadia Iqbal, Aliya Riaz, Sidra Nawaz (Wicket-keeper) and Syeda Nain Fatima Abidi.The stand-bys comprise Almas Akram, Diana Baig, Rabiya Shah, Aiman Anwar and Ayesha Zafar. (APP)�
 Pakistan Cricket Board (PCB) has announced a 15-member squad for upcoming Twenty20 World Cup starting from March 08.</strongThe announcement was made in a press release by the country�s cricket board here Wednesday.Surprising Pakistan have picked uncapped left-arm seamer Rumman Raees and dropped opener Ahmed Shehzad.Raees has been picked after his good performance in Pakistan Super League.strong>Squad</strongShahid Afridi (capt), Mohammad Hafeez, Shoaib Malik, Umar Akmal, Sarfraz Ahmed, Babar Azam, Iftikhar Ahmed, Imad Wasim, Anwar Ali, Mohammad Irfan, Wahab Riaz, Mohammad Amir, Mohammad Nawaz, Khurram Manzoor, Rumman Raees.
 West Indies players will be thrown off the squad for the World Twenty20 if they do not agree to financial terms by Sunday�s deadline, the head of the region�s cricket board said on Tuesday.</strongThe hard-line stance comes in the wake of reports that the 15-man squad, upset at a huge pay cut, has rejected the contract offered by West Indies Cricket Board (WICB).Cricinfo.com on Tuesday published a letter from Darren Sammy to the WICB in which the West Indies captain said the financial terms for the World Twenty20, which starts in India on March 8, were unacceptable."We want to represent the West Indies but the financials on offer we can�t accept," Sammy wrote.WICB chief executive Michael Muirhead did not sound in a negotiating mood, however, when he spoke on Jamaican radio."The WICB is committed to play in the tournament, let me say that first," Muirhead said on Hitz 92fm."No one will leave the shores of the West Indies without signing a contract and if these players in particular choose not to sign, then I guess we�ll be left with no option but to substitute other players for them."Muirhead added that the board was not in a position to improve the renumeration package, negotiated with the players association nine months ago."They have had lots of time to digest and argue and do everything," he said."Five of the players were instrumental and were there at the onset, so at this point, I�m hoping that the players will sign and take advantage of the other benefits that are there."He said that players would receive half of any shirt sponsorship the board negotiates in addition to a portion of prize money.Although West Indies cricket has fallen on hard times in the test format, it remains a major player in the shortest form of the game.West Indies won the 2012 World Twenty20 in Sri Lanka and are currently ranked second in the world.This year�s squad includes dashing batsmen Chris Gayle and Kieron Pollard.Sammy, who requested an urgent meeting before Sunday�s deadline, has proposed the players participate in the World Twenty20 under the same conditions as at previous tournaments.He said players were facing a pay cut of nearly 80 percent and stood to earn only $21,000 apiece this year, compared to $135,000 at the last tournament.The latest impasse between WICB and the players comes some 18 months after the premature end of West Indies� tour of India because of a longstanding payment dispute.
 Centuries from openers Quinton de Kock and Hashim Amla guided South Africa to a seven-wicket victory over England on Tuesday that kept alive their hopes of winning the five-match series of one-day internationals.</strongJoe Root made a sparkling 125 as England, after winning the toss and electing to bat, piled up 318 for eight in 50 overs.De Kock (135) and Amla (127) then amassed 239 for the first wicket to lay the platform before South Africa reached the target with 22 balls to spare to cut their series deficit to 2-1.England, seeking to become the first touring team to win a test and ODI series in South Africa for 14 years, now bid to clinch overall victory in Johannesburg on Friday.De Kock, 23, was particularly brutal as he became the youngest player to record 10 ODI hundreds. He also made an unbeaten ton in the first game in Bloemfontein.Amla cut and pulled his way to a 22nd ODI century, and third in a row at Centurion Park.Earlier, Root eased to his seventh ODI century with a masterful display of power and placement, hitting 10 fours and five sixes.Root added 125 for the second wicket with opener Alex Hales (65) and 82 for the fifth with Ben Stokes (53) before being run out following a calamitous mix-up with the latter.Paceman Kyle Abbott took two for 50 and was the only South African bowler to keep his economy rate under six an over.
 The bowlers of Quetta Gladiators made it impossible for Islamabad United to score big in the 11th match of Pakistan Super League (PSL) here at Sharjah Cricket Stadium Thursday night.</strongNot only did the Gladiators limited United to just 117 runs but got the entire team out in 19.1 overs.Captain Shane Watson scored 40 runs and remained the highest scorer for Islamabad. No other player could stay long at the crease, as Imran Khalid scored 18, BJ Haddin 15, AD Russel and Saeed Ajmal 10 each, Khalid Latif 6, Sharjeel Khan SW Billings and Rumman Raees made two runs each.Gladiators GD Elliot did greatest damage by taking three wickets. Babar and Aizaz took two wickets each while Anwar Ali, Muhammad Nawaz and Muhammad Nabi got one wicket each.
 Quetta Gladiators won the toss and invited Islamabad United to bat in the 11th contest Pakistan Super League (PSL) here at Sharjah Cricket Stadium on Thursday night.</strongPeshawar Zalmi went on top in tournament�s rankings after securing a 3-run win against Karachi Kings earlier today.Quetta Gladiators can reclaim the top position if they win tonight�s match against Islamabad United.Islamabad captain Misbah-ul-Haq is not playing today�s match as he is, reportedly, still recovering from the calf injury. Shane Watson is leading United in Misbah�s absence for the second consecutive match.TeamsIslamabad United: Shane Watson(c), Sharjeel Khan, Khalid Latif, Kamran Ghulam, Imran Khalid, SW Billings, BJ Haddin, AD Russell, Saeed Ajmal, Rumman Raees, Mohammad IrfanQuetta Gladiators: Ahmed Shehzad, LJ Wright, KP Pietersen, GD Elliott, Sarfraz Ahmed(c), Mohammad Nabi, Anwar Ali, Zulfiqar Babar, Akbar-ur-Rehman, Mohammad Nawaz (3), Aizaz Cheema.
 England all-rounder Ravi Bopara�s remarkable batting for Karachi Kings did not dampen Peshawar Zalmi�s resolve to defend their solid target of 183, as Zalmi wins against Kings by 3 runs here at the Sharjah Cricket Stadium on Thursday.</strongBopara hit 4 sixes and 5 fours in his 33-ball 67 but got out in the last over to leave his side at the touching distance, just 5 runs behind the target. However, tailenders failed to cross the line and Kings fell just 3 run short of the target.Besides Bopara, JM Vince made 44 and Sohail Tanvir 23 for Kings to keep their team�s hope alive after being restricted to 109 for 6 in the 15th over.Wahab Riaz took two wickets while Tait, Asghar, Afridi and Sammy shared a wicket each for Peshawar Zalmi.Earlier, Mohammad Hafiz made a breezy half-century to help his side post a challenging 183 run target for Karachi Kings in the tenth match of inaugural edition of Pakistan Super League (PSL).The Zalmi opener made 59 off 35 balls with 7 fours and 3 sixes while his opening partner Tamim Iqbal made 37, Kamran Akmal 30, captain Shahid Afridi 16 and Darren Sammy 14 to help their side reach 182 for the loss of 4 wickets in full 20 overs.Ravi Bopara picked two wickets and Mohammad Amir and Sohail Tanvir shared a wicket each for the Kings.Karachi Kings have made a slow start to the PSL, they've lost two of their first three games. On the other hand, Peshawar Zalmi has won two out of three.
 Sana Mir will lead a 15-member Pakistan Women squad to the ICC Women�s World T20 2016 in India in March-April.Pakistan Women team is drawn in Group B, and begins its campaign against West Indies on March 16 in Chennai, before facing India (March 19, Delhi), Bangladesh (March 24, Delhi) and England (March 27, Chennai) in the group stage.Shaharyar Mohammad Khan, the PCB chairman, has approved the 15-member women�s team as well as five standbys, picked up by the Women�s National Selection Committee compromising Farrukh Zaman, Urooj Mumtaz Khan and Syed Ali Naqvi for the upcoming ICC Women World T20 2016 to be played in India.The training camp for the tournament will be announced shortly.The selected players are:<br/>Javeria Wadood, Bibi Nahida, Sidra Amin, Bismah Maroof, Muneeba Ali Siddiqui, Sana Mir (captain), Nida Rashid, Iram Javed, Asmavia Iqbal Khokhar, Anam Amin, Sania Iqbal, Sadia Iqbal, Aliya Riaz, Sidra Nawaz (wicketkeeper), Syeda Nain Fatima Abidi.
 Peshawar Zalmi scored 182 runs for 4 wickets in its innings against Karachi Kingsin the 10th match of Pakistan Super League (PSL) here on Thursday.</strongZalmi played all 20 overs and set a target of 183 at a cost of 4 wickets. Muhammad Hafeez emerged as the highest scorer with 59 runs. Tamim Iqbal made 37, Kamran Akmal 30, David Milan 12.Darren Sammy scored 18 runs while captain Shahid Afridi made 17 and remained not out.Ravi Bopara took two wickets for Karachi Kings while Muhammad Amir and Sohail Tanvir sent one player each to the pavilion.
 Peshawar Zalmi won the toss and decided to bat first against Karachi Kings in the 10th match of Pakistan Super League here at Sharjah.</strongKarachi Kings have made a slow start to the PSL, they've lost two of their first three games.On the other hand, Peshawar Zalmi has won two out of three.strong>Teams:</strongstrong>Karachi Kings</strongLMP Simmons, Nauman Anwar, JM Vince, Shakib Al Hasan, Shoaib Malik (Captain), RS Bopara, Imad Wasim, Mohammad Amir, Sohail Tanvir, Saifullah Bangash�, Usama Mir, Bilawal Bhatti, Sohail Khan, Mushfiqur Rahim, Iftikhar Ahmed, Mir Hamza, Fawad Alamstrong>Peshawar Zalmi</strongTamim Iqbal, Mohammad Hafeez, DJ Malan, Kamran Akmal�, Shahid Yousuf, Shahid Afridi (Captain), DJG Sammy, Wahab Riaz, Aamer Yamin, Mohammad Asghar, SW Tait, Musadiq Ahmed, Abdur Rehman, Junaid Khan, Hasan Ali, Israrullah, CJ Jordan.
�</strong><strong>Swing and seam friendly conditions, a lack of truly scary Australian bowlers and New Zealand captain Brendon McCullum's retirement are all themes that will resonate when the first test gets underway in Wellington on Friday.</strongThe Basin Reserve wicket was heavily grassed just 48 hours out from the toss and, even if brilliant sunshine in New Zealand's capital was expected to brown it off, McCullum and Steve Smith are still likely to ask the opposition to bat.Similarly-grassed pitches in New Zealand in recent years have not helped the fast bowlers as much as expected, however, as both captains noted on Thursday."I think the wicket will dry out quicker than what you'd expect," McCullum said. "The first two days will be challenging for the batsmen ... (and) you have to just hang in there and get a competitive score."It's not going to be the 500 or 600 but you just have to be competitive and then the third and fourth innings are where things take shape."Despite having won 29 of their 55 previous tests against New Zealand and taken the home encounter 2-0 last November, Australia are not overwhelming favourites to win the series and reclaim the number one ranking in test cricket.Their pace bowling unit of Peter Siddle, Jackson Bird and new spearhead Josh Hazlewood lacks the blistering speed of the two Mitchells, Starc and Johnson, both of whom created doubt, and at times fear, in the minds of batsmen.Hazlewood's ability to swing the ball and Siddle's to seam it off the pitch should create issues for New Zealand but the Australians have shown they are not immune to struggles with similar movement.Last year at Trent Bridge, Stuart Broad showed how badly they play the moving ball when he took 8-15 as England skittled the tourists for 60 in their first innings."We haven't been good enough with the bat on wickets that have been doing a bit in the last year or so," Smith said."The wicket here looks like it might do a bit so we've got a bit to prove and we've got to adapt accordingly, a lot better than we have in recent times."New Zealand's opening duo Tim Southee and Trent Boult have the ability to swing and seam the ball and while they have been down on pace this summer, recent outings have suggested they are pushing it back into the 140kph plus range.That pace will be needed to try and put pressure on an Australian side which is likely to retain the aggressive mindset that has characterised their batting in recent years.Underpinning the entire series is the fact McCullum will retire after the second test in Christchurch.The first match at the Basin Reserve will be his 100th test, all of which have been played in succession since his debut in 2004."I'm looking forward to these two test matches," McCullum said. "It will be a great series, two evenly matched teams."Not a better way to go out really."
 A record opening stand between Shane Watson and Sharjeel Khan helped Islamabad United achieve a rather tough target of 167 in an easy manner against Lahore Qalandars in the ninth Twenty20 match of the Pakistan Super League here on Wednesday.</strongStand-in captain Watson and his partner Sharjeel made 153 together for the opening wicket partnership, a PSL record for any wicket.Watson scored 79 off just 47 balls with seven sixes and four boundaries while Sharjeel remained not out on 73, facing 42 balls and hitting six sixes and five fours, leading Islamabad United to 8-wicket win.Earlier,�Lahore Qalandars set what looked like a tough target of 167.Rizwan was the star performer for Qalandars. He scored 50 not out off 27 balls with the help of three sixes and five boundaries.
 On a dry surface in a dusty Ranchi ground, India's top order moved into customary home form, and their bowlers exposed a fragile Sri Lanka top order. Shikhar Dhawan was bruiser-in-prime, unleashing an early shellacking that brought him 51, and set the team on course to a big total. They reached 196 for 6, thanks to helpful hands from the top five, which today included a pinch-hitting Hardik Pandva. That total was 69 too many for Sri Lanka.On a pitch with little pace and minimal seam movement, the pacers that had delivered Sri Lanka's Pune win, were expensive. Even Sri Lanka's first T20 international hat-trick - to Thisara Perera - barely made a difference, coming as it did in the penultimate over. Dinesh Chandimal will perhaps rue having chosen to bowl first.R Ashwin had troubled Sri Lanka's batsmen even on the Pune green top, and MS Dhoni savvily had him open the bowling here. Ashwin removed a returning Tillakaratne Dilshan second ball, and the chase never really recovered from that. Soon they were 3 for 16, Ashish Nehra claiming two early scalps. Chandimal and Chamara Kapugedara then embarked on a recovery that was far too slow to give the visitors any real chance of victory, and wickets tumbled late in the middle overs, as the required rate crept up through the teens. Ashwin finished with 3 for 14 from his four overs.Dhawan got to 50 off his 22nd delivery, but departed soon after, nicking a throat-high Dushmantha Chameera ball to the keeper. That wicket bought Sri Lanka brief respite. They bowled five overs for 30, before the runs began to flow again.Chameera claimed Rohit's scalp in the 14th over, with an athletic return catch, and Senanayake removed Rahane soon after, but India's final push began when Pandya arrived at the crease a few places higher than he would normally bat. After two sighters he began his assault.Raina added his own finishing blows to the closing surge, taking particular liking to Chameera, whose figures he ruined. Having sent down his first two overs for 10 runs, Chameera saw his third disappear for 18. His last also went for 10. In between Perera took a low-key hat-trick, having Pandya, Raina and Yuvraj Singh hole out to low full tosses. His figures were dramatically improved as a result. He finished with 3 for 33 from three overs.Dilshan was stumped over-reaching off the first ball he faced. Seekkuge Prasanna was sent up the order to provide some early impetus, but lacked the technique to deal with the new ball, and chewed up four balls for one run. Danushka Gunathilaka amplified Sri Lanka's problems at the top of the order with another poor score.Kapugedara and Chandimal's 49-ball fourth-wicket partnership yielded only 52 runs. By the time they had departed, off successive Jadeja deliveries in the 12th over, the required rate had climbed to more than 14.5, and the chase was kaput. Dasun Shanaka and Milinda Siriwardana struck some late sixes, doing good to at least their own batting confidence, if nothing much for the team cause.��
 Islamabad set a modest target of 153 runs for Peshawar Zalmi in the 13th Twenty20 match of the Pakistan Super League here at the Sharjah Cricket Stadium on Friday night.After being put in by Peshawar Zalmi, Islamabad United made 152 for six in 20 overs.Khalid latif top-scored with 59 runs in 41 balls. He hit four sixes and a four.Other main scorers were captain Misbah-ul-Haq (32 off 27 balls with two sixes and three fours), Sharjeel Khan (28 off 22 balls with two sixes and two fours) and Shane Watson (19 off 20 balls with four fours).For Peshawar Zalmi, Wahab Riaz and Mohammad Asghar claimed two wickets each.�
 Peshawar Zalmi captain Shahid Khan Afridi won the toss and put Islamabad United into bat in the 13 th Twenty20 match of the Pakistan <br/> Super League here at tha Sharjah Cricket Stadium Friday night.Misbah-ul-Haq, captain of the Islamabad United, is back in the team but said he has not completely recovered from the calf injury but was ready to play for his team and disappointed to miss two matches earlier.Teams:Islamabad United: Misbah-ul-Haq (captain), Shane Watson, Sharjeel Khan, Khalid Lateef, Andre Russell, Brad haddin, Asif Ali, Mohammad Sami, Samuel Badri, Saeed Ajmal, Rumman Raees.Peshawar Zalmi: Shahid Afridi (captain), Mohammad Hafeez, Tamim Iqbal, Jim Allenby, Kamran Akmal (wk), Shahid Yousuf, Darren Sammy, Wahab Riaz, Junaid Khan, Mohammad Asghar, Shane Tait.��
 Sri Lankan paceman Thisara Perera became the fourth cricketer to claim a hat-trick in Twenty20 internationals in the second match of the three-game series against India on Friday.The 26-year-old bowler dismissed Hardik Pandya, Suresh Raina and Yuvraj Singh off successive deliveries in the penultimate over of the Indian innings to achieve the feat at Ranchi�s JSCA International Stadium.Australian Brett Lee and the New Zealand duo of Jacob Oram and Tim Southee have also claimed hat-tricks in Twenty20 internationals.Perera�s 3-33 helped Sri Lanka restrict India to 196 for six after the hosts, eyeing a series-levelling win, threatened to post a 200-plus target. (Reuters)�
 Pakistan hockey team won a thrilling encounter against arch rivals India by 1-0 in the final of South Asian Games 2016 to clinch the gold medal in Guwahati, India on Friday night.Owais-ur-Rehman scored the solitary but decisive goal of the match in the dying moments of the first half. After that both teams failed to score anymore goals.India had also lost to Pakistan 1-2 in the group stages.This is Pakistan�s third title on the trot in the South Asian Games. Earlier, Pakistan defeated India in both the 2004 and 2010 finals of the South Asian Games, played in Colombo and Dhaka, respectively.�
 Ravi Bopara�s extra-ordinary all-round performance gave Karachi Kings their much needed victory in the 12th Twenty20 match of the Pakistan Super League (PSL) here at the Sharjah Cricket Stadium on Friday.First, he batted superbly to take his team to a big score of 178 for five in 20 overs, hitting an unbeaten 71 from 43 balls with four sixes and three fours. Then came to bowl and captured six wickets for just 16 runs, an excellent medium-pace bowling display.Karachi Kings who were losing three successive matches after winning their first match, defeated Lahore Qalandars by 27 runs as Bopara restricted them to 151 for eight.After an opening stand of 98 runs in eleven overs by Cameron Delport and Chris Gayle, no batsman could resist against Bopara�s accurate bowling. Delport scored 55runs off 39 balls with seven fours and two sixes while Gayle made 37 from 28 balls with three fours and two sixes.�
 Ravi Bopara smashed an unbeaten 71 off 43 balls to take Karachi Kings to 178 for five in the allotted 20 overs against Lahore Qalandars in the 12th T20 match of the Pakistan Super League here at the Sharjah Cricket Stadium on Friday.Darren Bravo, who is leading Lahore Qalandars in absence of captain Azhar Ali, won the toss and put Karachi Kings into bat.Azhar Ali is resting for today�s match while Chris Gayle is back in the team.Bangladesh�s Mushfiqur Rahim has joined Karachi Kings but fast bowler Mohammad Amir is not playing today due to fitness problems.However, Karachi set a tough target of 179 for Lahore. They were indebted to Bopara who hit four sixes and three fours.Among others, openers Nauman Anwar made 35 and captain Shoaib Malik scored 27 and both gave the team a fine start of 54 runs in 6.4 overs.For Lahore Qalandars, left-arm spinners Zafar Gohar and Zohaib Khan claimed two wickets each while right-arm pacer kevon Kooper took one wicket. �
Stuart Broad returns to the England side for the first time since the 2015 World Cup.Broad was dropped from the white-ball sides after a disappointing tournament in Australia and New Zealand and also missed out on selection for England's World T20 squad, announced earlier this week.But he has never made any secret of his desire to return and has often stated his ambition to feature in the ICC Champions Trophy, in 2017, and the World Cup, in 2019. Both those events will be held in England.Broad enjoyed an excellent Test on this ground less than a month ago, where he claimed 6 for 17 in the second innings to help England secure the series.He may find conditions less helpful this time, though. There is a painfully short boundary on one side of the ground and the pitch appears to lack the cracks he exploited so well during the Test.Broad replaces David Willey in the side for this match, while Chris Woakes, who was also omitted from the World T20 squad, returns to the England side in place of Chris Jordan, who has taken one wicket in 17.3 overs in the series, at an average of 143 and an economy rate of 8.17. Both Jordan and Willey were named in the World T20 squad.South Africa also made a change, bringing in Chris Morris for Morne Morkel in an attempt to strengthen their batting. AB de Villiers has won the toss and inserted England, reasoning that conditions would favour the chasing team under lights, just as they did at Centurion earlier in the week.England, with a 2-1 lead going into this match, could wrap up the five-match series if they win today.South Africa 1 Hashim Amla, 2 Quinton de Kock (wk), 3 Faf du Plessis, 4 AB de Villiers (capt), 5 JP Duminy, 6 Farhaan Behardien, 7 David Wiese, 8 Kagiso Rabada, 9 Kyle Abbott, 10 Chris Morris, 11 Imran TahiEngland 1 Jason Roy, 2 Alex Hales, 3 Joe Root, 4 Eoin Morgan (capt), 5 Ben Stokes, 6 Jos Buttler (wk), 7 Moeen Ali, 8 Chris Woakes, 9 Adil Rashid, 10 Stuart Broad, 11 Reece Topley.
 Steve Smith and Usman Khawaja hammered home the advantage their bowlers had established when they took Australia to 147-3, a deficit of just 36 runs, at the close of the opening day�s play in the first Test against New Zealand on Friday.Australia captain Smith, who won the toss and sent New Zealand in to bat on a green Basin Reserve pitch, shook off some recent poor form to reach 71 before he was caught and bowled by Mark Craig.Khawaja scored his fourth Test half century with 57 not out, while Adam Voges (seven not out) was bowled by Doug Bracewell in the final over of the day only to survive because of a contentious no ball. Television replays showed the delivery was clearly legal.The tourists had earlier dismissed New Zealand for 183, Josh Hazlewood and Peter Siddle reducing them to 51-5 in the 12th over and Nathan Lyon polishing off the tail after lunch.Hazlewood finished with 4-42, Siddle took 3-37, while off-spinner Lyon grabbed 3-32 and the tea break was taken 10 minutes early when Trent Boult was caught at long on for 24.Craig top-scored with 41 not out but the pitch appeared to have lost much of its bite by the end of New Zealand�s innings, which lasted 48 overs.Tim Southee, however, managed to get rid of both Joe Burns (0) and David Warner (5) to leave the visitors 5-2 in the third over and with the sell-out crowd in full voice.Southee and Boult kept up the pressure on Smith and Khawaja but when they scored 37 runs, from nine fours and a single, in 16 deliveries, the shackles were broken and crowd silenced.Smith was eventually dismissed about 20 minutes before stumps when he hit the ball back to Craig to end the 126-run partnership.The crowd began the day celebrating McCullum�s milestone as he became just the third New Zealander to earn 100 Test caps and the first man in world cricket to achieve them in succession from debut.Australia, however, seized control of the match shortly after Smith won the toss and simply bowled straight and waited for the ball to do just enough to catch the outside edge.New Zealand�s first seven wickets all fell to catches behind the stumps, but the last three, all Lyon�s victims, were caught in front from mis-timed attacking shots. (Reuters)�
 Lahore Qalandars have won the toss and elected to field against Karachi Kings in the 12th match of the Pakistan Super League at Sharjah on Friday.</strongQuite a few changes have been made in both the teams. Bangladeshi recruit Mushfiqur Rahim will be playing his first game for Karachi Kings.Azhar Ali, Lahore Qalandars skipper, will be resting today and the baton has been passed on to the Caribbean super star Darren Bravo, who will be leading the side.strong>Teams:</strongstrong>Lahore Qalandars: </strong>CH Gayle, CS Delport, Naved Yasin, Umar Akmal, DJ Bravo (Captain), Mohammad Rizwan, Hammad Azam, Zohaib Khan, Zafar Gohar, KK Cooper, Ehsan Adilstrong>Karachi Kings: </strong>Nauman Anwar, JM Vince, Shakib Al Hasan, RS Bopara, Shoaib Malik (Captain), Mushfiqur Rahim, Imad Wasim, Sohail Tanvir, Usama Mir, Sohail Khan, Mir Hamza.�
�</strong><strong>West Indies captain Darren Sammy has called for mediation to settle a contractual dispute that threatens to wreck the team's chances of winning next month's World Twenty20.</strongWith the West Indies Cricket Board (WICB) standing firm in its stance that players must sign the offered contract by Sunday or be replaced, Sammy's position could open the door to a resolution.It is the clearest indication yet that Sammy's 15-man squad does not want to boycott the World Twenty20, which starts in India on March 8."As captain of the (Twenty20) team, I wish that we can settle this matter and focus on preparations for the tournament," Sammy wrote in a letter to WICB chief executive Michael Muirhead."I want to state on behalf of the players that we want to play and will represent the West Indies to the best of our abilities."Sammy said mediation was the best way to settle the matter, if the board would not "consider our request to double the match fees (of $6,900), share 50 percent of sponsorship fees and award 100 percent of prize money to players."This came after Muirhead confirmed to Reuters that the WICB selection panel, chaired by Clive Lloyd, was mandated to select a new team if the current squad, which includes Chris Gayle and Dwayne Bravo, did not sign by Sunday's deadline.Sammy, who referenced the fiasco of the abandoned Indian tour in 2014 after a similar row over contracts, said it was the "arrogance and high-handedness of the board" which had caused the problems."You cannot continue (to) force players to be represented by a body that they are not members of and do not want to represent them," he said, adding that 14 of the 15 players in the squad were not members of the West Indies Players Association (WIPA).WIPA is the exclusive collecting bargaining agency for West Indies players."Any issues you or a particular group of players may have with the representation you receive from your association are best taken up with WIPA," Muirhead told Sammy via email.West Indies won the 2012 World Twenty20 in Sri Lanka and are currently ranked the second in the world in the format.
 Quetta Gladiators sailed smoothly as they beat Islamabad United with 7 wickets in the 11th contest in Pakistan Super League (PSL) here at Sharjah Cricket Stadium in the early hours of Friday.</strongGoing after a mediocre target of 118, Shehzad scored 41 runs off 31 deliveries with the help of 5 fours and a six. Sarfraz made half-century and remained invincible at 51 in 39 balls with 6 fours.Mohammad Nawaz added 14 runs to the Gladiators� total, pushing the team to achieve the target of 118 runs.Andre Russel got all the three for the Islamabad United.Earlier, Gladiators not only limited Islamabad United to just 118 runs but got the entire team out in 19.1 overs.Captain Shane Watson scored 40 runs and remained the highest scorer for Islamabad. No other player could stay long at the crease, as Imran Khalid scored 18, BJ Haddin 15, AD Russel and Saeed Ajmal 10 each, Khalid Latif 6, Sharjeel Khan SW Billings and Rumman Raees made two runs each.Gladiators GD Elliot did greatest damage by taking three wickets. Babar and Aizaz took two wickets each while Anwar Ali, Muhammad Nawaz and Muhammad Nabi got one wicket each.
 West Indies� hopes of winning the World Twenty20 for the second time in four years suffered a setback on Friday when off-spinner Sunil Narine and all-rounder Kieron Pollard pulled out of their squad.The West Indies Cricket Board (WICB) also announced that all the players would be given until Sunday to settle a dispute by signing their tournament contracts.Earlier this week, captain Darren Sammy said mediation was the best way to settle the row if the board would not "consider our request to double the match fees (of $6,900), share 50 percent of sponsorship fees and award 100 percent of prize money to players".Narine, picked last month despite being banned from the international arena due to an illegal bowling action, told the WICB that he was withdrawing because he had made "insufficient progress" with his rehabilitative work.He also pulled out of the squad for last year�s 50-over World Cup to work on his bowling action, which was first reported in 2014.The WICB have not named a replacement for the 27-year-old Narine who has taken 40 wickets at an average of 17.75 in 34 Twenty20s.The board said Pollard, 28, had told them he could not play in next month�s World Twenty20 in India because the knee injury he sustained in South Africa�s Ram Slam T20 in November had not fully healed.He will be replaced in the squad by Carlos Brathwaite. (Reuters)�
 Lahore Qalandars set a rather tough target of 165 for Peshawar Zalmi in the 15 th Twenty20 match of the first Pakistan Super League here at the Sharjah Cricket Stadium on Saturday night.After being sent into bat by Peshawar Zalmi captain Shahid Afridi, Lahore Qalandars made a disastrous start as they lost Chris Gayle off the third ball of the very first over, leg before to Junaid Khan.However, captain Azhar Ali along with Cameron Delport repaired the damage and took the score to 57 before he was dismissed by Darren Sammy for 25.Then, Delport with Umar Akmal took the innings to the last over, adding 101 for the third wicket. Delport departed for a fine 78 just three balls earlier.His 61-ball innings was laced with three sixes and �six fours whereas Umar remained not out on 52, made off 31 balls with six boundaries as his team reached 164-3.For Peshawar Zalmi, Junaid claimed two wickets for 32 and Sammy took one for 20.�
 Peshawar Zalmi captain Shahid Afridi won the toss and put Lahore Qalandars into bat in the 15th Twenty20 match of the first Pakistan Super League here at the Sharjah Cricket Stadium on Saturday night.Lahore made two changes. Their captain Azhar Ali is back in the team and also Rasool.Stylish left-handed Dawid Malan replaced Jim Allenby in Peshawar team.If Peshawar win today, they clinch a spot in the 1st Qualifying Final with Quetta, and their remaining two matches will essentially be dead-rubbers.The Qalandars are reeling at the bottom of the table, with just one win in five games whereas Zalmi, on the other hand, have won four of their five and will be looking to seal a playoff spot.�
 Quetta Gladiators are still going on top with another victory in the 14th Twenty20 match of the Pakistan Super League (PSL) here at the Sharjah Cricket Stadium on Saturday.Chasing an easy target of 127, they completed the five-wicket win against Karachi Kings with seven balls to spare.Ahmed Shehzad was the top scorer with 41 from 27 balls, hitting seven fours.Skipper Sarfraz Ahmed remained not out on 29 while Kevin Pietersen made 26.For Karachi Kings, young leg-spinner Usama Mir claimed two wickets for 27 runs.Earlier, Karachi Kings skipper Shoaib Malik won the toss and elected to bat first but his players �could not resist against deadly bowling by right-arm medium pacer Grant Elliot. Only four batsmen entered into the double figures.Shoaib himself was the top scorer with 45, scored off 38 balls with three fours and two sixes. He was followed by James Vince (23), Ravi Bopara (14) and Shakib Al Hasan (10).Their most in-form batsman and the allround star of the previous match Bopara also failed to make any significant contribution.Elliot finished his bowling quota of four runs capturing four wickets for just 15 runs.�
 Right-arm medium pacer of Quetta Gladiators Grant Elliot played havoc with the ball to restrict Karachi Kings to 126 for nine in the 14th Twenty20 match of the Pakistan Super League (PSL) here at the Sharjah Cricket Stadium on Saturday.After Karachi Kings skipper Shoaib Malik won the toss and elected to bat first, his players �batted poorly as only four batsmen entered into the double figures.However, Shoaib himself was the top scorer with 45, scored off 38 balls with three fours and two sixes. He was followed by James Vince (23), Ravi Bopara (14) and Shakib Al Hasan (10).Their most in-form batsman and the allround star of the previous match Bopara also failed to make any significant contribution.Elliot cmpleted his bowling quota of four runs capturing four wickets for just 15 runs.�
 Adam Voges continued to capitalise on an early reprieve by scoring his fifth Test century as Australia eased to 463 for six by the close of the second day�s play of the first match against New Zealand at the Basin Reserve on Saturday.Voges was unbeaten on 176 at stumps with Peter Siddle on 29 as the Australians stretched their advantage to 280 runs, snuffing out any hope New Zealand had of claiming victory in captain Brendon McCullum�s 100th Test.The 36-year-old Voges has made the most of a lifeline when he was bowled by Doug Bracewell for seven with two deliveries remaining on Friday, only for umpire Richard Illingworth to signal a no-ball.Television replays showed the delivery was legal but because the infraction had been called on the field, New Zealand were unable to ask for a review.Voges was involved in partnerships of 168 with Usman Khawaja (140) and 96 with wicketkeeper Peter Nevill (32) to prevent New Zealand from gaining any momentum on a tough day for the hosts.New Zealand briefly appeared to be in position to expose the Australian tail during the middle session when Trent Boult took two wickets, including Khawaja�s, in three deliveries but Voges calmly ensured that the visitors maintained their dominance.The late-blooming Voges, who was 35 when he made his debut against West Indies last June, has scored 1,204 runs in a bountiful Test career to date, boasting a high score of 269 not out and an average of 100.33.As Australia resumed on 147-3 in response to New Zealand�s 183 all out, the only excitement for locals at a sold-out Basin Reserve came during that eventful Boult over in the middle session.Corey Anderson claimed the only other wicket of the day when he enticed Nevill to edge behind to make the score 395-6.While Australia have batted themselves into a position they are unlikely to lose from, New Zealand�s past record at the Basin Reserve should provide local fans with some hope.In their last two matches at the Wellington ground, they conceded large first innings leads before scoring 680-8 to save a test against India two years ago and 524-5 to set up a win last year against Sri Lanka.The second Test of the two-match series is in Christchurch from Feb.20-24. (Reuters)�
 Karachi Kings have won the toss and decided to bat first against Quetta Gladiators in the 14th match of Pakistan Super League at Sharjah on Saturday.Both teams are unchanged from yesterday's match.strong>Teams:</strongstrong>Karachi Kings</strongNauman Anwar, Shoaib Malik (captain), JM Vince, Shakib Al Hasan, RS Bopara, Mushfiqur Rahim, Imad Wasim, Sohail Tanvir, Usama Mir, Sohail Khan, Mir Hamzastrong>Quetta Gladiators</strongAhmed Shehzad, LJ Wright, KP Pietersen, GD Elliott, Mohammad Nabi, Sarfraz Ahmed (Captain), Anwar Ali, Mohammad Nawaz (3), Zulfiqar Babar, Akbar-ur-Rehman, Aizaz Cheema.
�</strong><strong>Former FIFA secretary general Jerome Valcke became the latest high-profile football official to be kicked out of the sport when he was banned for 12 years on Friday after causing "considerable financial damage" to its scandal-plagued governing body.</strongValcke was found guilty by FIFA ethics judge Hans-Joachim Eckert of misconduct over the sale of World Cup tickets, abuse of travel expenses, attempting to sell TV rights below their market value and destruction of evidence."Valcke acted against FIFA�s best interests and caused considerable financial damage to FIFA, while his private and personal interests detracted him from his ability to properly perform his duties as the Secretary General of FIFA," FIFA's ethics committee said in a statement.The Frenchman, whose job was to ensure the smooth running of FIFA and in particular its flagship World Cup tournament, had been right-hand man to now banned president Sepp Blatter for nearly eight years.FIFA is mired in the worst crisis in its 111-year history, with corruption investigations under way in Switzerland and the United States. Several dozen people including senior football officials have been indicted.The ethics committee has already banned Blatter and European football boss Michel Platini for eight years apiece. More than a dozen other officials have been suspended over the last four years.Valcke's U.S. lawyer Barry Berke said in a statement that the ethics committee "is not a credible, independent or objective decision-making body."He described its Friday decision as "unsupported, unjust and politically motivated" and said Valcke's evidence had been ignored."Mr. Valcke is confident that when all the facts come out, it will be clear that he did absolutely nothing wrong in carrying out his duties for the good of FIFA and the sport."�
 Bangladesh cricket star Tamim Iqbal played a superb innings scoring 80 off 58 balls to lead Peshawar Zalmi to an impressive win against Islamabad United by 7 wickets here at Sharjah Cricket Stadium on Friday night.Tamim smashed 6 fours and 3 sixes in his unbeaten innings. Mohammad Hafez made 26 and Shahid Yousuf an unbeaten 27 to help their side achieve a tough 153 run target with ease.Mohammad Sami, Saeed Ajmal and Samuel Badree took one wicket each for the United.Earlier, Khalid Latif scored a brilliant half-century to help Islamabad United post a challenging 152-6 against Peshawar Zalmi in the 13th encounter of inaugural Pakistan Super League (PSL).Latif made 59 off 41 balls with 4 sixes and four while skipper Misbah-ul-Haq 32 and Sharjeel Khan 28 contributed to the team total.Mohammad Asghar and Wahab Riaz took two wickets each while Shaun Tait and Junaid Khan shared a wicket each for Zalmi.Peshawar Zalmi captain Shahid Afridi had won the toss and invited Islamabad United skipper Misbah-ul-Haq to bat first.Misbah at the toss said he has not completely recovered from the calf injury but was ready to play for his team and disappointed to miss out two matches already.
 Quetta Gladiators scored 129 runs against Peshawar Zalmi in the 17th match of Pakistan Super League (PSL) at Sharjah Cricket Stadium on Sunday.</strongGrant Elliot and Zulfiqar Babar scored 63 runs on the last wicket partnership, breaking the earlier record of 59 made in a joint effort by Heath Streak and James Shannon. Elliot made 40 runs off 29 balls and remained the top scorer while Babar scored 20 from 11 deliveries.Shahid Afridi inflicted greatest damage to Gladiators by taking 5 wickets for just 7 runs. Wahaba Riaz took two wickets while Junaid Khan and Mohammad grabbed one wicket each for Zalmi.Earlier, Gladiators won the toss the elected to bat against Zalmi.Captain of Gladiators, Sarfaraz Ahmed said he has made many changes in the team for today�s match.�Zalmi skipper, Shahid Afridi said his team should have won the last match against Lahore Qalandars. He said Brad Hodge is replacing Tamim Iqbal today.strong>Teams:</strongstrong>Quetta Gladiators:</strong> Ahmed Shehzad, KC Sangakkara, Asad Shafiq, GD Elliott, Mohammad Nabi, Sarfraz Ahmed, E Chigumbura, Zulfiqar Babar, Akbar-ur-Rehman, Mohammad Nawaz, Umar Gul.strong>Peshawar Zalmi:</strong> Mohammad Hafeez, DJ Malan, Kamran Akmal, Shahid Yousuf, BJ Hodge, Shahid Afridi, DJG Sammy, Wahab Riaz, Junaid Khan, Mohammad Asghar, SW Tait.
 Quetta Gladiators batsman Ahmed Shahzad and Peshawar Zalmi fast bowler Wahab Riaz overcame by emotions and pushed each other during tonight�s match of Pakistan Super League (PSL) at Sharjah Cricket Stadium.</strongHere is what happened. Ahmed Shahzad after hitting a six on Wahab Riaz ball got bowled on the very next ball.Riaz got Shahzad out and as the two players began to walk towards each other, they were clearly shown in the TV footage having an exchange of heated words.This was not it. The two players then came close to each other and got physical, pushing each other away.Take a look:iframe allowfullscreen="allowfullscreen" frameborder="0" height="270" src="//www.dailymotion.com/embed/video/x3s2pi8" width="480"></iframeEarlier, Quetta Gladiators won the toss and elected to bat against Peshawar Zalmi in the 17th match of PSL.strong>PCB fines both players</strongBoth Wahab Riaz and Ahmed Shahzad were slapped with heavy fines along with a warning by Pakistan Cricket Board (PCB).Ahmed Shehzad was fined 30 per cent of his match fee while Wahab Riaz was penalised with 40 percent of his match earnings by the referee Roshan Mahanama.
 Quetta Gladiators won the toss and elected to bat against Peshawar Zalmi in the 17th match of Pakistan Super League (PSL) here at Sharjah Cricket Stadium on Sunday night.Captain of Gladiators, Sarfaraz Ahmed said he has made many changes in the team for today�s match.Zalmi skipper, Shahid Afridi said his team should have won the last match against Lahore Qalandars. He said Brad Hodge is replacing Tamim Iqbal today.strong>Teams:</strongstrong>Quetta Gladiators:</strong> Ahmed Shehzad, KC Sangakkara, Asad Shafiq, GD Elliott, Mohammad Nabi, Sarfraz Ahmed, E Chigumbura, Zulfiqar Babar, Akbar-ur-Rehman, Mohammad Nawaz, Umar Gul.strong>Peshawar Zalmi:</strong> Mohammad Hafeez, DJ Malan, Kamran Akmal, Shahid Yousuf, BJ Hodge, Shahid Afridi, DJG Sammy, Wahab Riaz, Junaid Khan, Mohammad Asghar, SW Tait.
 Islamabad United defeated Karachi Kings by five wickets in the 15 th Twenty20 match of the first Pakistan Super League here at the Sharjah Cricket Stadium on Sunday.Chasing an easy target of 129, they completed their victory with seven balls to spare.Their main scorers were captain Misbha-ul-Haq (38), Khalid Latif (33) and Asif Ali (31 not out).For Karachi Kings, pace bowler Sohail Khan captured two wickets for 23 while Mohammad Amir, Ravi Bopara and Usama Mir claimed one wicket each.Earlier, sent into bat, Karachi Kings were restricted to 128 runs for five wickets in the 20 overs.Ravi Bopara top scored with 45, followed by Mushfiqur Rahim (33) and Shahzaib Hasan (27).�����������������������Left-arm spinner Imran Khalid claimed two wickets for 19 while Mohammad Sami, Azhar Mehmood and Andre Russell took one wicket each.�
 Half-centuries from Zeeshan Malik and Said Badar helped Pakistan Under-19s pull off the highest successful chase of the tournament and clinch fifth place with a seven-wicket win over England Under-19s.Chasing 265, Pakistan got off to a strong start courtesy Zeeshan, who added 25 with Gauhar Hafeez for the first wicket and 58 for the second wicket with Shadab Khan to set them a solid base before he was joined by Badar.Zeeshan and Badar proceeded to put on 115 runs for the third wicket, before the opener fell for a 105-ball 93 that included 15 fours.Pakistan suffered no more losses, as Badar and Hasan Mohsin steered them home with an unbroken stand of 67 for the fourth wicket.Badar finished unbeaten on 75 off 80 balls (5x4, 3x6) and Mohsin on 39 off 36 (4x4, 1x6).Sent in to bat, England lost two early wickets to the new-ball pair of Sameen Gul and Mohsin, before Tom Moores (47) and Callum Taylor (33) got their innings back on track.Taylor fell in the 22nd over after adding 52 with Sam Curran for the fourth wicket, leaving England 110 for 4. Curran took over the reins, and scored a 107-ball 83 (11x4) to propel England to 264 for 7.He received support from Brad Taylor (37*) in a partnership of 75 for the sixth wicket.Left-arm spinner Hasan Khan bowled a crucial spell, picking up one wicket while only giving away 32 runs in his 10 overs.��
 �American multiple grand slam champion Venus Williams collected the 49th title of her illustrious career by defeating Japan�s Misaki Doi 6-4 6-2 in the final of the inaugural Taiwan Open on Sunday.The 35-year-old Californian, who was beaten in the first rounds of the Auckland Classic and Australian Open last month, won the $500,000 hard court tournament in Kaohsiung without dropping a set."It�s wonderful to have women�s tennis here.It�s been too long, it�s the first time in 22 years," the top seed and world number 12 said in a courtside interview."It�s my first time in Taiwan, so thank you for making me feel so welcome and thank you for making me feel at home," Williams added after defeating the tournament second seed.Williams�s 49 career titles, including seven grand slam singles championships, leave her seventh on the all time list as she closes in on Monica Seles (53) and Lindsay Davenport (55).Martina Navratilova leads the way on 167 titles, while Williams� younger sister and current world number one Serena, who pulled out of the Dubai Championships this week with flu, has 69. (Reuters)�
 Alex Hales hit a century while the rest of his England teammates struggled in the fifth and final one�day international against South Africa at Newlands on Sunday.Opening batsman Hales made 112 in an England total of 236 all out after the tourists were sent in to bat in the series decider.His second one�day international century capped a fine series for the tall Hales who had made fifties in each of the previous four matches including an innings of 99 in the second game in Port Elizabeth.He finished the series with 383 runs at an average of 76.60. Hales had minimal support from the rest of the England batsmen however with Joe Root (27) and Ben Stokes (29) the only others to reach 20.Hales and Root put on 61 for the second wicket � their fifth successive partnership of 50 or more � before Root was trapped leg before wicket by leg�spinner Imran Tahir.Root made 351 runs in the series at an average of 70.20. Tahir took the first two wickets dismissing Jason Roy leg before after being brought on in the fifth over and finishing off the innings by having Stuart Broad caught at mid�off.Tahir took three for 53. Kagiso Rabada and David Wiese also took three wickets each for 34 and 50 runs respectively.South African captain AB de Villiers sent England in to bat after early morning rain but although it was slow the pitch did not appear to help the bowlers unduly. (APP/AFP)�
 Islamabad United captain Misbah-ul-Haq has won the toss and decided to bowl first against Karachi Kings in the 16 th Twenty20 match of the first Pakistan Super League here at the Sharjah Cricket Stadium on Sunday.Shane Watson is out with an abdominal strain, and Azhar Mahmood replaced him. Imran Khalid is also in the team in place of Saeed Ajmal.Fast bowler Mohammad Amir returned in the Karachi team. He replaced Sohail Tanvir while Shahzaib Hasan replaced Nauman Anwar.Both Islamabad and Karachi are on four points and with two games left, this is a must win game.Teams:Karachi Kings: Shoaib Malik (captain), James Vince, Shahzaib Hasan, Imad Wasim, Ravi Bopara, Shakib Al-Hasan, Mushfiqur Rahim (wk), Mohammad Amir, Usama Mir, Sohail Khan , Mir Hamza.Islamabad United: Misbah-ul-Haq (captain), Sharjeel Khan, Khalid Latif, Asif� Ali, Brad Haddin (wk), Azhar Mahmood, Andre Russell, Samuel Badri, Imran Khalid, Mohammad Sami, Rumman Raees. �
 West Indies defeated India by five wickets in the tense final of the ICC Under-19 World Cup here at the Sher-eBangla national Stadium, Mirpur on Sunday to lift the title for the first time.India, who were bowled out for 145, held their own and fought till the end admirably until Keemo Paul and Keacy Carty's ice-cool approach helped West Indies eat into the target and eventually cross the line with three balls to spare.Carty remained not out on 52 while Mayank Dagar took three wickets for 25 for India.Earlier, Ryan John and Alzarri Joseph grabbed three wickets each for the West Indies.That meant India lost a Youth ODI for the first time since their quarterfinal exit of the same tournament in 2014. �
 Brendon McCullum�s dismissal in the final over of the day put Australia firmly in control of the first Test in Wellington on Sunday as New Zealand were reduced to 178-4, still 201 runs behind the tourists� mammoth first innings of 562.Trapped lbw by Mitchell Marsh for 10, the captain�s wicket all but ended New Zealand�s hopes of saving the test at the end of the third day�s play.Debutant Henry Nicholls was on 31 and will be joined by Corey Anderson when play resumes.McCullum scored 302 and batted for almost 13 hours to save his team against India on the same ground two years ago, but was unable to mount any sort of a rescue against the Australians.The 34-year-old appeared anxious and was almost caught behind the wicket twice before all-rounder Marsh removed him with three balls left before stumps.Adam Voges earlier scored his second test double-century to drive Australia to a 379-run first innings lead.The late-blooming Voges, who was 35 when he made his debut in the Caribbean last June, has scored 1,267 runs in a bountiful Test career to date, boasting an average of 97.46.New Zealand�s second innings had begun promisingly enough with Tom Latham and Martin Guptill putting on 81 for the first wicket.Guptill�s fall for 45, however, appeared a wasted chance as he had looked well set before slogging off-spinner Nathan Lyon to Marsh at extra cover.Kane Williamson and Latham took their side through to tea but Williamson fell shortly afterwards for 22 when he feathered a Josh Hazlewood delivery through to wicketkeeper Peter Nevill.Latham also wasted a golden opportunity to push on when he fell to a poor shot off Lyon for 63 after notching his seventh half-century.The second and final match of the series is in Christchurch from Feb. 20. (Reuters)�
 Cameron Delport slammed his third half-century of the season and picked up three crucial wickets, setting up a four-run win for Lahore Qalandars against Peshawar Zalmi in Sharjah.Chasing a stiff target of 165, Peshawar recovered from a top-order wobble through some big hitting from Dawid Malan, but the team did not have enough to get over the line. However, despite the defeat, other results in the tournament meant that Peshawar were through to the playoffs.Lahore, after being inserted, lost Chris Gayle for a first-ball duck, but Delport put up fifty-plus stands with Azhar Ali (25) and Umar Akmal to seize the advantage.Delport's partnership with Akmal for the third wicket yielded 101 runs; Delport hit six fours and three sixes for his 78, while Akmal's 31-ball 52 featured six fours. Their efforts ensured that Peshawar needed to chase at more than eight an over right from the off.Tamim Iqbal kept the runs flowing for Peshawar with a quick 30, but the team lost wickets in a cluster to soon fall to 95 for 4.Peshawar needed 70 runs from 46 balls at that time, but Malan blew new wind into his team's chase by blasting a 35-ball 42 with three sixes. His blows brought the equation down to 18 off the last two overs, but Malan was trapped lbw by Kevon Cooper off the first ball in the penultimate over, tilting the contest back Lahore's way.Peshawar needed 16 off the last over, and despite a six from Wahab Riaz, they could only muster 160 for 7. Cooper (3 for 25) and Delport (3 for 18) were the pick of the bowlers for Lahore. �
 Fifties from Smriti Mandhana and Harmanpreet Kaur, followed by Poonam Yadav 's four-wicket haul shaped India Women's 107-run rout of Sri Lanka Women in the first ODI in Ranchi.After being inserted, Mandhana anchored the first half of the innings with an 81-ball 55 that included eight fours.After she fell at the end of the 27th over, Harmanpreet took charge of the innings with her 61-ball 50. Captain Mithali Raj also chipped in with a handy 49 that helped lift India to 245 for 6.In response, the only form of resistance the India bowlers faced was from Prasadani Weerakkody, who made a slow 69.Sri Lanka were well-placed at 122 for 3, but the India bowlers, led by Poonam, cut through their middle and lower order, as the visitors suffered a collapse that saw their last seven wickets fall for just 16 runs.�
 New Zealand will bring the same 13-man squad that lost the series-opening test against Australia into the second match at Christchurch, with all-rounder Mitch Santner and batsman Ross Taylor again ruled out by injury.Taylor had not recovered sufficiently from a muscle tear in his left side which he picked up during the one-day international series against Pakistan, while Santner was still sore from bone bruising in his right foot, New Zealand Cricket said in a statement."Everyone wants to play against Australia, so both guys are understandably disappointed to be missing out," coach Mike Hesson said."The players and the medical staff worked hard to be available for the match, but in the end ran out of time."Ross is back hitting balls again and is targeting a return in the Island of Origin match before we head away to the ICC World Twenty20."Mitch is on track to be fit for the ICC World Twenty20 and we�ll continue to monitor both players closely."The pair�s absence means spinner Mark Craig and Henry Nicholls, who scored 59 on his Test debut in Wellington, have been retained in the squad.New Zealand, who were defeated by an innings and 52 runs at Wellington�s Basin Reserve on Monday, will bid to tie the series in the second and final match in Christchurch and give retiring captain Brendon McCullum a winning send-off.Squad: Brendon McCullum (captain), Corey Anderson, Doug Bracewell, Trent Boult, Martin Guptill, Matt Henry, Tom Latham, Henry Nicholls, Mitchell Santner, Tim Southee, Neil Wagner, BJ Watling, Luke Ronchi, Kane Williamson. (Reuters)�
 Australia secured an easy victory in the first Test against New Zealand on Monday, thrashing the hosts by an innings and 52 runs after lunch on the fourth day to take a 1-0 lead in the two-match series.Nathan Lyon grabbed two more wickets to finish with figures of 4-91 for Australia, who can take the top test ranking from India with a series victory.The second match starts in Christchurch on February 20.Mark Craig, who top scored in New Zealand�s first innings with 41 not out, was left 33 not out when Trent Boult was bowled by Mitchell Marsh for 12 to bring the hosts� second innings to an end on 327.New Zealand were dismissed for 183 in their first innings and faced a deficit of 379 runs after Adam Voges� second Test double century drove Australia to a mammoth 562.The visitors captured the last six wickets on Monday without the experienced Peter Siddle, who bowled just eight overs on Sunday before succumbing to a back spasm.Hazlewood trapped Doug Bracewell in front for 14 just three deliveries after they returned from the break.Tim Southee provided some typical rearguard fireworks with 48 from 23 balls but holed out at long on trying to hit a fourth six off Lyon, before Boult was bowled by Marsh just under an hour into the final session.The only bright spot for New Zealand was debutant Henry Nicholls scoring his first test half century before he was bowled by Bird for 59.Hazlewood�s ability to get the older ball to reverse swing should be of concern for New Zealand, whose top-four batsmen made solid starts but failed to push on in what were considered good batting conditions."We were outplayed throughout the test match and Australia deserve to be 1-0 up in the series," New Zealand captain Brendon McCullum said."We need to be a bit better than what we were, though obviously Australia were very very good in this Test match. (Reuters)�
 The threat of West Indies being forced to field a second string side at the World Twenty20 was averted on Sunday when 12 of 13 players in the original squad signed the contracts which had caused a standoff with the board.</strongWest Indies Cricket Board (WICB) had given the players a deadline of Sunday to agree to the financial terms, which represented a sharp drop in pay compared to previous tournaments, or they would be replaced.After a week of claim and counterclaim, with plenty of recriminations on both sides, only batsman Darren Bravo declined to take up the deal."The West Indies Cricket Board is in receipt of 12 signed contracts from players who were selected for the upcoming 2016 ICC World Twenty20 tournament," the WICB said in a news release on Sunday.West Indies are former World Twenty20 champions, ranked second in the world in the format heading into the March 8-April 3 tournament in India, and, in opener Chris Gayle, have one of the biggest drawcards in the game.The WICB said Bravo had written to them saying he would be skipping the tournament to play in the regional four-day Professional Cricket League."I'm of the firm belief that I have a very big part to play in the resurgence of West Indies cricket in the longer formats of the game," they quoted the 27-year-old lefthander as saying."I will like the opportunity to play in our Professional Cricket League (PCL) because it will put me in good stead and will allow me to achieve those goals that I have aligned myself for the year 2016 and beyond."The WICB said they had not yet decided on a replacement for Bravo.All-rounder Kieron Pollard, who has a knee injury, and spinner Sunil Narine, whose bowling action has been deemed illegal, were the other members of the orginal 15-man squad.Carlos Brathwaite had already been named as a replacement for Pollard, while the WICB on Sunday said Ashley Nurse would come into the squad in place of Narine.The dispute continued the rancour between players and the WICB that goes back to the abandoned tour of India in 2014, which also resulted from a dispute over the payment structure.Captain Darren Sammy had written to the board several times requesting mediation to settle the dispute over the remuneration package negotiated by the West Indies Players Association (WIPA).Sammy had asked the WICB to consider their request to double the match fees of $6,900, share 50 percent of sponsorship fees and award 100 percent of prize money to players.Squad: Sulieman Benn, Jason Holder, Andre Fletcher, Darren Sammy (captain), Dwayne Bravo, Samuel Badree, Lendl Simmons, Jerome Taylor, Andre Russell, Marlon Samuels, Denesh Ramdin, Chris Gayle, Ashley Nurse, Carlos Brathwaite.
 Shahid Aftidi�s 5 wickets for 7 runs and David Malan�s 60 runs off 52 balls registered a comfortable win for highest ranking Peshawar Zalmi against Quetta Gladiators in the 17th match of Pakistan Super League (PSL) at Sharjah Cricket Stadium on Sunday.</strongMohammad Hafeez scored 36 (29) and Kamran Akmal 17 (27) to help Quetta clinch an easy win against Zalmi.Zulfiar Babar and Mohammad Nawaz of Quetta Gladiators took one wicket eachEarlier, Grant Elliot and Zulfiqar Babar scored 63 runs on the last wicket partnership for Gladiators, breaking the earlier record of 59 made in a joint effort by Heath Streak and James Shannon. Elliot made 40 runs off 29 balls and remained the top scorer while Babar scored 20 off 11 balls.Wahaba Riaz took two wickets while Junaid Khan and Mohammad grabbed one wicket each for Zalmi.Earlier, Gladiators won the toss the elected to bat against Zalmi.strong>Teams:</strongstrong>Quetta Gladiators:</strong> Ahmed Shehzad, KC Sangakkara, Asad Shafiq, GD Elliott, Mohammad Nabi, Sarfraz Ahmed, E Chigumbura, Zulfiqar Babar, Akbar-ur-Rehman, Mohammad Nawaz, Umar Gul.strong>Peshawar Zalmi:</strong> Mohammad Hafeez, DJ Malan, Kamran Akmal, Shahid Yousuf, BJ Hodge, Shahid Afridi, DJG Sammy, Wahab Riaz, Junaid Khan, Mohammad Asghar, SW Tait.
 Three breezy fifties enabled Lahore Qalandars to post a mammoth total of 201 for two against Quetta Gladiators in the 18th Twenty20 match of the Pakistan Super League here at the Dubai International Cricket Stadium on Tuesday.Quetta Gladiators captain Sarfraz Ahmed had to pay a heavy price for putting Lahore Qalandars into bat first after winning the toss.Lahore openers Chris Gayle and captain Azhar Ali lashed the baton-charge right from the beginning as they set a record opening stand of 108 runs before <br/> Gayle departed.He smashed a 34-ball 60 with six towering sixes and three fours. This is strange to note that he had made a total of only 43 runs off 34 balls in his four previous matches.His partner Azhar scored 61 off 45 balls with seven fours and two sixes and later Umar Akmal, batting one-down, also played an unbeaten brisk innings of 55 from 25 balls with four sixes and as many fours.Darren Bravo also remained not out, on 20 from 17 balls with three fours.For Quetta Gladiators, Zulfiqar Babar and Grant Elliott took one wicket each.�
 Quetta Gladiators captain Sarfraz Ahmed won the toss and elected to field against Lahore Qalandars in the 18th Twenty20 match of the Pakistan Super League here at the Dubai International Cricket Stadium on Tuesday.Three changes have been made for Quetta.This would be a must-win match for Lahore Qalandars but not for Quetta as they are assured a place in the first qualifying final.Teams:Lahore Qalandars: Azhar Ali (captain), Chris Gayle, Cameron Delport, Naved Yasin, Umar Akmal, Darren Bravo, Mohammad Rizwan (wk), Zohaib Khan, Zafar Gohar, Kevon Kooper, Ehsan Adil.Quetta Gladiators: Sarfraz Ahmed (captain), Ahmed Shehzad, Kumar Sangakkara, Kevin Pietersen, Grant Elliott, Mohammad Nabi, Anwar Ali, Zulfiqar Babar, Bismaillah Khan, Mohammad Nawaz, Umar Gul.��
 Pakistan men and women teams will be playing two warm�up matches in Kolkota and Chennai ahead of their ICC World Twenty20 campaign, �International Cricket Council (ICC) announced on Monday.Pakistan will play a local side in Kolkata on March 12 and take on defending champions Sri Lanka in their next game at Eden Gardens in Kolkota on March 15.ICC announced the match timings and warm�up schedule of the ICC World Twenty20-2016 �which will be staged at eight venues in India from 8 March to 3 April.The men�s afternoon matches will take place from 15-00 to�18-10 while the evening matches will be played from 19-30 to�22-40.The semi-finals and the final will be held from 19-00�to 22-10.The women�s afternoon matches will be played from 15-30 to18-15 while the evening matches will take place from 19-30�to 22-15.The semi-finals and the finals which will be played before the men�s matches will be played between 14-30�to 17-15.Teams taking part in the first round will play their warm-up matches in Dharamsala and Mohali from March 3 to�6 while sides featuring in the second round will play warm�up matches in Kolkata and Mumbai from March 10� to 15.The women�s warm�up matches will take place in Bengaluru and Chennai from March 10 to�14.Pakistan women will play their warm�up matches against New Zealand on March 10 at Chennai and against South Africa on March 12 at same venue. (APP) �
�</strong><strong>Australia all-rounder Shane Watson is confident he will be fit for the World Twenty20 in India despite an abdominal strain cutting short his campaign in the Pakistan Super League.</strongThe 34-year-old suffered the injury bowling for Islamabad in the T20 tournament in the United Arab Emirates and immediately withdrew to fly home to Sydney for scans and an assessment.�It�s going to take me a couple of weeks to get back into batting and bowling," Watson told The Australian newspaper, adding that the injury was "not major"."We got it before it did too much damage.�I�m very confident I�ll be right for the World Cup. That�s still three or four weeks away ... It�s not like a side strain or anything like that. If everything goes to plan, I�ll be right.�Watson's fitness has been under the microscope throughout his 14-year international career, with a succession of soft tissue injuries robbing him of time in the middle in recent seasons.Watson put his latest injury down to a vigorous delivery and playing three matches in successive days in the Pakistan Super League's compressed three-week schedule."I tried to bowl a slower ball but put too many revs on it and it twinged a bit," said Watson, who drew the highest bid of 95 million rupees ($1.39 million) at the Indian Premier League (IPL) player auctions earlier this month.Injury aside, Watson's selection in the World T20 squad seemed improbable only a few weeks ago.Having retired from test cricket after being dropped following the Ashes series-opener in England, Watson was overlooked for the one-day international series against India last month and had a poor start in the domestic Big Bash T20 tournament for Sydney Thunder.However, he found form at the right time to be picked for the home T20 series against India and blasted a century in defeat when leading the side in place of injured former skipper Aaron Finch during the third and final match in Sydney.He was subsequently picked in Steve Smith's squad for the World T20 and brings vital experience of conditions in the subcontinent as an enthusiastic IPL veteran.�The T20 selection felt like the added bonus on top of what had happened for the previous six weeks,� said Watson.The World T20 starts on March 8.
 Putting behind what happened in Sharjah match on Sunday, Pakistani cricketer Ahmed Shehzad has wished his fellow player Wahab Riaz good luck for the upcoming Asia Cup.</strong�Ahmed Shahzad said small altercations are no big deal. These things happen in the heat of the moment,� said Ahmed Shehzad in a message issued here on Monday.Ahmed Shehzad said both he and Wahab Riaz should not have reacted the way they did on the field during the match of Pakistan Super League (PSL) in Sharjah.He said he is keeping no personal grudges and hopes that Wahab Riaz will play a key role in Pakistan�s success in the upcoming tournament.He said he fully supports the Pakistani team that is all set to participate in the Asia Cup.Shehzad said whether he is part of the team or not, he would only wish that Pakistan comes back triumphant.strong>PCB fined both players</strongBoth Wahab Riaz and Ahmed Shahzad were slapped with heavy fines along with a warning by Pakistan Cricket Board (PCB).Ahmed Shehzad was fined 30 per cent of his match fee while Wahab Riaz was penalised with 40 percent of his match earnings.�
 Two fine half-centuries by Umar Akmal and Sohaib Maqsood helped Lahore Qalandars post a moderate total of 150 for five wickets against Islamabad United in the 20th T20 match of the Pakistan Super League here on Wednesday.Sent into bat, Lahore Qalandars made a disastrous start losing three early wickets for just six runs as left-arm pacers Mohammad Irfan and Rumman Raees dismissed Azhar Ali (1), Cameron Delport (1) and Mohammad Rizwan (naught).However, Sohaib and Umar Akmal batted together to take their team out of trouble and added 97 runs for the fourth wicket stand , then Sohaib got out by Irfan for 57. His 44-ball innings was lace with five fours and two sixes.Then Umar along with Darren Bravo added another 41 runs before the latter was run out for 13 off the second last ball of the innings.However, Umar lofted a towering six off the last ball to set a 151-run target for Islamabad United.Umar remained not out on 72, scored from 49 balls with �five fours and three sixes.Irfan captured three wickets for 22 and Rumman took one for 31.�
 Islamabad United captain Misbah-ul-Haq won the toss and elected to bowl first against Lahore Qalandars in the 20th Twenty20 match of the Pakistan Super League 2016 here at the Duabi International Cricket Stadium Wednesday night.The last game of the league stage, and a critical game for Lahore Qalandars. They have to win this to qualify for the play-offs. If they don't, Karachi Kings will qualify in their expense. Islamabad United are already through.For Lahore, Chris Gayle is out with a back injury. Naved Yasin is also out while there are a lot of changes in Islamabad team.Teams:Islamabad United: Sharjeel Khan, Dwayne Smith, Khalid Latif, Asif Ali, Misbah-ul-Haq, Brad Haddin, Azhar Mahmood, Saeed Ajmal, Ashar Zaidi, Rumman Raees, Mohammad Irfan.Lahore Qalandars: Azhar Ali, Cameron Delport, Sohaib Maqsood, Dwayne Bravo, Mohammad Rizwan, Umar Akmal, Kevon Cooper, Ajantha Mendis, Ehsan Adil, Adnan Rasool, Zia-ul-Haq.�
 Brad Hodge smashed an unbeaten 85 from only 45 balls to help Peshawar Zalmi defeat Karachi Kings by five-wickets in an interesting T20 match of the Pakistan Super League 2016 here at the Dubai International Cricket Stadium on Wednesday.Chasing a modest target of 153, Peshawar Zalmi completed their sixth victory in the tournament with nine balls to spare.Hodge, who was later named Man of the Match, struck six sixes and as many fours in his remarkable innings.The only other notable innings was played by Jim Allenby, who made 31 off 29 balls with four boundaries.For Karachi Kings, Bilawal Bhatti grabbed two wickets for 36.Earlier, Karachi Kings made 152 runs for seven after winning the toss.Lendl Simmons top scored with 49, hitting six fours and two sixes in his 37-ball innings.Other main scorers were Ravi Bopara (23), Shahzaib Hasan (18), Shoaib Malik (15) and Bilawal Bhatti (15 not out).�
 Indian high commissioner Gautam Bambawale assured that the Pakistan cricket team would be provided the security higher than the President.He said that Indian prime minister Narendra Modi has given the permission to Pakistan cricket team for participating in the World Twenty20 Cup.In an exclusive talk with Geo News, Bambawale said that there were suspicions about the Pakistan cricket team�s participation in the tournament but India would now appreciate the team.The Indian high commissioner said that there would be no charm in World T20 if Pakistan are not playing in the event.He said now Pakistan have to decide about their participation in the event.He added that nothing was discussed on cricket with chairman Pakistan Cricket Board.Meanwhile, chairman PCB Shaharyar Khan said that he was waiting for the permission from prime minister Nawaz Sharif for Pakistan team�s participation in the T20 World Cup.
 The 17th Inter School Scrabble Championship is all set to be played on here at a local hotel February 28.</strong�About 800 players are expected to participate from over 100 educational institutes,� announced the Tournament Director, Tariq Pervez at a press conference here on Wednesday.Tariq Pervez informed that last year's championship was the largest tournament of any single sport in Pakistan's history with 764 players playing under one roof and hoped that this championship will keep its tradition of breaking all previous participation records.For the first time shuttle buses will be arranged offering free pick &amp; drop to the players from designated places to and from the venue.This is an open tournament for students of all schools, colleges and universities. Players are divided into six age categories; the maximum age limit is 23. Trophies will be given to top three players in each category while certificates of participation will be given to all players.Top 80 players from this championship will be picked for training and ten players from this group will be selected to represent Pakistan at the World Youth Scrabble Championship (WYSC) to be played in France in August.Pakistan was the runner-up at the last WYSC and is a favorite to win this year.Interested players can download the entry forms from www.pakistanscrabble.org or from any Bien Habille outlets.
 Karachi Kings made 152 runs for seven wickets in 20 overs against Peshawar Zalmi in the 19th T20 match of the Pakistan Super League 2016 here at the Dubai International Cricket Stadium on Wednesday.After Karachi Kings captain Shoaib Malik won the toss and decided to bat first, his team could not make any big score.Lendl Simmons top scored with 49, hitting six fours and two sixes in his 37-ball innings.Other main scorers were Ravi Bopara (23), Shahzaib Hasan (18), Shoaib Malik (15) and Bilawal Bhatti (15 not out).Lendl Simmons and Riki Wessels have been included in Karachi Kings while Jim Allenby is playing for Peshawar Zalmi. Tamim Iqbal is not playing in this match.This would be a must win match for Karachi Kings whereas Peshawar Zalmi has already qualified for play-off.���
 The British high commissioner designate for Pakistan Thomas Drew said that he wants to see England cricket team visit Pakistan to play the game here.After being appointed the high commissioner for Pakistan, he was talking to Pakistani journalists in London.Drew said that he did not know it would be possible for England to play cricket in Pakistan but he would be happy if it happened in his presence in Pakistan.Drew has been appointed British High Commissioner to Pakistan in succession to Philip Barton, who will be transferring to another diplomatic service appointment.Drew will assume his responsibilities next year. He was also a UK�s political counselor in Islamabad from 2006 to 2008.��
 Karachi Kings captain Shoaib Malik won the toss and elected to bat first against Peshawar Zalmi in the 19th Twenty20 match of the first Pakistan Super League here at the Dubai International Cricket Stadium on Wednesday.This would be a must win match for Karachi Kings whereas Peshawar Zalmi has already qualified� for play-off.Lendl Simmons and Riki Wessels have been included in Karachi Kings while Jim Allenby is playing for Peshawar Zalmi. Tamim Iqbal is not playing in this match.Teams:Karachi Kings: Lendl Simmons, Shahzaib Hasan, Shoaib Malik (captain), Ravi Bopara, Shakib Al Hasan, Riki Wessels (wk), Bilawal Bhatti, Mohammad Amir, usama Mir, Sohail Khan, Saifullah Khan Bangash.Peshawar Zalmi: Mohammad Hafeez, Dawid Malan, Jim Allenby, Brad Hodge, Kamran Akmal (wk), Shahid Afridi (captain), Darren Sammy, Aamer Yamin, Abdur Rehman, Hasan Ali, Imran Khan.
strong>Serena Williams will miss next week's Qatar Open because of the flu, she said on Tuesday, marking the second consecutive tournament the world number one misses due to illness.</strongWilliams, a finalist at the 2013 tournament where she lost in three sets to Victoria Azarenka, was the top seed at the Feb. 21-27 tournament in Doha."I unfortunately have to withdraw from the Qatar Total Open as I have come down with the flu and do not feel 100 percent," Williams said in a statement released by tournament organisers."I need to take this time to recover but I do look forward to returning to Doha and seeing my fans soon."The 34-year-old American announced last week that she would miss the ongoing Dubai Championships with the flu.Williams has not played a competitive match since she was stunned in the Australian Open final by German Angelique Kerber.The world number one's withdrawal comes as another blow to tournament organisers after Maria Sharapova pulled out with an arm injury.
 Qutta Gladiators successfully chased what looked like a daunting target of 202 on the last ball and secured an impressive 2-wicket win against Lahore Qalandars in the eighteenth match of Pakistan Super League (PSL) at Dubai International Cricket Stadium in the early hours of Wednesday.</strongGladiators needed 3 runs on the last ball which was smashed to the boundary by Muhammad Nabi for four, leading his team to a remarkable victory against the hard-lucked Qalandars.Chasing the huge target of 202, Quetta Gladiators looked aggressive right from the start of their innings as their openers Ahmed Shehzad and Bismillah Khan made 28 in just two overs but Shehzad was dismissed leg before off Ehsan Adil at the same score.However, Bismillah continued his bold innings to reach the fifty off only 24 balls. He along with Kevin Pietersen took the score to 100 in the ninth over. But at 1101, both the players were dismissed off two successive balls from Darren Bravo. First Pietersen went out after making 34 off 21 balls with six fours, then Bismillah for 55 from 30 balls with ten fours and a six.Later, Kumar Snagakkara, who was playing his first match in the event, and captain Sarfraz Ahmed continued the run rate and took the score to 162 in 15.3 overs but both were dismissed by Ehsan and the score was 163 for five in 16 overs.Muhammad Nawaz got caught for nil on Ahsan Adil�s delivery.Earlier, Three breezy fifties enabled Lahore Qalandars to post a mammoth total of 201 for two against Quetta Gladiators in the 18th Twenty20 match of the Pakistan Super League here at the Dubai International Cricket Stadium on Tuesday.Quetta Gladiators captain Sarfraz Ahmed had to pay a heavy price for putting Lahore Qalandars into bat first after winning the toss.Lahore openers Chris Gayle and captain Azhar Ali lashed the baton-charge right from the beginning as they set a record opening stand of 108 runs before <br/>Gayle departed.He smashed a 34-ball 60 with six towering sixes and three fours. This is strange to note that he had made a total of only 43 runs off 34 balls in his four previous matches.His partner Azhar scored 61 off 45 balls with seven fours and two sixes and later Umar Akmal, batting one-down, also played an unbeaten brisk innings of 55 from 25 balls with four sixes and as many fours.Darren Bravo also remained not out, on 20 from 17 balls with three fours.For Quetta Gladiators, Zulfiqar Babar and Grant Elliott took one wicket each.
 Sri Lanka fast bowler Lasith Malinga has recovered from a knee injury and will lead the defending champions at next month�s World Twenty20 in India, the country�s cricket board said on Thursday.</strongRegular T20 captain Malinga sustained the injury during Sri Lanka�s home series against West Indies last year and missed the team�s tour of New Zealand and India, where Dinesh Chandimal deputised as skipper.Also returning to the 15-man squad, which will also take part in the upcoming Asia Cup tournament before the March 8-April 3 World Twenty20, was all-rounder Angelo Mathews.Malinga and Mathews, who was suffering from a groin strain, missed their recent three-match T20 series in India.Experienced seamer Nuwan Kulasekara and wily left-arm spinner Rangana Herath were also named in the squad after missing the series against India, whom Sri Lanka defeated in the final to win the World Twenty20 in 2014.Sri Lanka are in Group 1 in the Super 10 stage of the biennial event along with England, South Africa, West Indies and a yet-to-be-determined qualifier.Squad: Lasith Malinga (captain), Angelo Mathews, Dinesh Chandimal, Tillakaratne Dilshan, Niroshan Dickwella, Shehan Jayasuriya, Milinda Siriwardana, Dasun Shanaka, Chamara Kapugedera, Nuwan Kulasekara, Dushmantha Chameera, Thisara Perera, Sachithra Senanayake, Rangana Herath, Jeffrey Vandersay.
 Pakistan spinner Saeed Ajmal dismantled his technique to relearn the art of off-spin and put himself in line for an international recall with a remodelled action.</strongThe late-bloomer emerged as Pakistan�s main strike bowler with a dizzying array of tricks in his arsenal until a suspect action brought about a ban in 2014.He was cleared to bowl again a week before last year�s World Cup but has struggled to replicate the control that once made him a universally feared spinner."At 38, I have learnt something that I probably never did in my 15 years as a cricketer," Ajmal told ESPNcricinfo."I had to become a child, like the first time I went into the academy as a 10-year-old.""I will be back, and that day is not far. I have spent a lot of time outside and it hurts me when Pakistan loses."Ajmal said he bowled with weights strapped to his wrist and ankles to iron out kinks in his action, which he blamed on a broken wrist following a bus accident.He has had to sacrifice some bounce and spin, and the occasional delivery can exceed the 15 degree elbow extension limit but Ajmal said he still had enough variation to trouble batsmen."I will leave cricket with this (new) action. If I am not effective, I will step aside and leave. "The odd ball might have exceeded 20 degrees but I work hard immediately to rectify that. I watch every video of my matches. Ninety-nine per cent of my deliveries are under control.�
 Islamabad United recorded a 5-wicket win against Lahore Qalandars, putting them out of the contest, in the 20th match of Pakistan Super League (PSL) here at Dubai International Cricket Stadium in the early hours of Thursday.</strongChasing a moderate total of 151runs, Islamabad United did not make a good start as they lost both their openers � Dwayne Smith (11) and Sharjeel Khan (5) - at the score of 24 runs.Both were caught behind by Mohammad Rizwan off left-arm fast-medium bowler Zia-ul-Haq.Then, Brad Haddin and Khalid Latif came to restore the position of their team. They added 69 runs for the third wicket before Khalid was run out scoring 25.Later, joined by captain Misbah-ul-Haq, Haddin completed his fifty and then Islamabad United crossed 100 in the 14th over.However, Haddin departed on 54 and the team score was 119 for four in 15 overs. He hit five fours and two sixes during his 42-ball innings.Then Asif Ali got out, leg before to Ehsan Adil for just three runs and the score was 126 for five.Then Azhar joined Misbah and both steered the team to achieve the target in the 19th over without much difficulty. Azhar scored 12 (9) with 2 fours while Misbah made 38 off 19 balls with the help of 7 fours.Muhammad Irfan took three wickets for Lahore Qalandars while Rumman Raees bagged one.Earlier, two fine half-centuries by Umar Akmal and Sohaib Maqsood helped Lahore Qalandars post a moderate total of 150 for five wickets against Islamabad United.Sent into bat, Lahore Qalandars made a disastrous start losing three early wickets for just six runs as left-arm pacers Mohammad Irfan and Rumman Raees dismissed Azhar Ali (1), Cameron Delport (1) and Mohammad Rizwan (naught).However, Sohaib and Umar Akmal batted together to take their team out of trouble and added 97 runs for the fourth wicket stand , then Sohaib got out by Irfan for 57. His 44-ball innings was lace with five fours and two sixes.Then Umar along with Darren Bravo added another 41 runs before the latter was run out for 13 off the second last ball of the innings.However, Umar lofted a towering six off the last ball to set a 151-run target for Islamabad United.Umar remained not out on 72, scored from 49 balls with five fours and three sixes.Irfan captured three wickets for 22 and Rumman took one for 31.Lahore Qalandars could only win two matches out of eight and after losing today�s match the team will now pack their bags to return home.
 Allrounder Shoaib Malik withdrew himself from the captaincy of Karachi Kings in the wake of differences with his deputy Ravi Bopara.Malik nominated Bopara as the new captain of the team.The England player had severely criticized Karachi Kings captain a day earlier at a Press conference following the defeat from Peshawar Zalmi.He had said that Shoaib Malik�s decision of batting first after winning the toss was wrong and he also said that Karachi Kings did not deserve to reach the next round of the Pakistan Super League.�
 Quetta Gladiators could not set a big target for Peshawar Zalmi in the first qualifying final of the first Pakistan Super League here at the Dubai International Cricket Stadium on Friday.Sent into bat, Quetta Gladiators did not make a good start , losing their openers Ahmed Shehzad and Bismillah Khan at a mere 11 but Kevin Pietersen and Kumar Sangakkara rescued the team with a brilloiant third wicket partnership of 79 runs.Pietersen scored a fine 53 off 38 balls with five fours and two sixes while Sangakkara made 37 off 29 balls with six boundaries.Then three wickets fell in a quick succession and Quetta Gladiators were 106 for five in 14.1 overs. Captain Sarfraz had gone for a duck.Later, Mohammad Nawaz played a brisk innings of 20 off 18 balls with two towering sixes and a four before being dismissed at the score of 122.But the remaining batsmen could not maintain the run rate and were getting out at regular intervals and were all out for 133 in 19.3 overs.Left-arm fast bowler Wahab Riaz captured three wickets for 17 runs while right-arm fast bowler Shaun Tait bagged two for 23 for Peshawar Zalmi.�
 South Africa recorded their first ever women's T20 victory over England to level the three-match series at 1-1. In a rain-interrupted innings, South Africa, anchored by Dane van Niekerk 's second successive fifty, held their nerve and paced their chase well to ensure Sunday's fixture will be a decider.After England defended 147 in Paarl a day ago, they would have thought they had enough when they crept over that total at Newlands. Sarah Taylor formed the spine of the innings, as she did in the first match, but she also had greater support. She shared in a 61-run second-wicket stand with Charlotte Edwards and a 63-run fourth-wicket partnership with Heather Knight but South Africa, helped by wayward bowling and clumsy fielding from England, were not overawed.Van Niekerk, who was dropped on 6 and 22, set the tone when she dispatched a loosener from Anya Shrubsole and then punished Danielle Hazell, who erred in length. She was almost run out, too, when Trisha Chetty sent her back even though she had advanced more than halfway down the wicket from the non-striker's end. The throw from Hazell came in at the striker's end instead but quick work from Taylor ensured Chetty was out.If van Niekerk was shaken by it, she did not show any signs and struck the first six of the innings with a slog sweep. She hit the ball with power and fine placement and beat short third man with a delicate lap to enter the 40s. Her fifty came via a pull off the 34th ball she faced. That shot also took South Africa halfway to the target.They were well placed on 80 for 1 after 10 overs and England could not pull them back. Jenny Gunn was punished for width but, just as South Africa seemed to get away, Rebecca Grundy struck. She beat van Niekerk, who had come down the track, and Taylor whipped the bails off.The first rains fell at the end of that over but South Africa, at 108 for 2, were well ahead on the Duckworth-Lewis-Stern and Marizanne Kapp had already showed her intent to finish things off fast with two furious pulls.The delay was short and Mignon du Preez and Kapp kept South Africa above the required rate, so that when the second interruption happened, four over and two balls later, South Africa were still ahead despite Kapp's dismissal. More rain followed and the players did not get back on but South Africa's batsmen had earned their first win over England after 14 attempts.�
 Peshawar Zalmi captain Shahid Khan Afridi won the toss and elected to bowl first against Quetta Gladiators in the first qualifying final of the Pakistan Super League 2016 here at the Dubai International Cricket Stadium on Friday.Peshawar Zalmi have made two changes. Bairstow will play in place of Tamim Iqbal while Hassan Ali also got a chance to play the game.For Quetta Mohammad Nabi has left. Aizaz Cheema and Nathan McCullum will play in today�s match.Teams:Quetta Gladiators: Ahmed Shehzad, Bismaillah Khan, Kevin Pietersen, Kumar Sangakkara, Sarfraz Ahmed (captain &amp; wk), Grant Elliott, Nathan McCullum, Anwar Ali, Zulfiqar Babar, Mohammad Nawaz, Aizaz Cheema.Peshawar Zalmi: Mohammad Hafeez, Kamran Akmal (wk), Shahid Yousuf, Brad Hodge, Jonny Bairstow, Shahid Afridi (captain), Darren Sammy, Wahab Riaz, Mohammad Asghar, Shaun Tait, Hasan Ali.
 Medium-pacer Deepti Sharma followed up her four-for in the perevious game with figures of 6 for 20 to help India Women to a comfortable seven-wicket win against Sri Lanka Women in Ranchi.The victory gave India a clean sweep in the three-match series and pushed them to fourth place on the ICC Women's Championship points table.Sri Lanka got off to a solid start after opting to bat, with the openers adding 33 before Sharma took two in two to spark a spectacular collapse.Captain Shashikala Siriwardene and Dilani Manodara combined for a 32-run sixth-wicket stand but a cluster of wickets thereafter meant Sri Lanka were bowled out for 112 in 38.2 overs, from a score of 94 for 5. Debutant Preeti Bose returned figures of 8-4-8-2.India's chase began in shaky fashion, losing Poonam Raut in the first over. Smriti Mandhana was run-out soon after for 6.Veda Krishnamurthy and Sharma, then, set about consolidating the innings. The pair added 70 in 109 balls to take India into the ascendancy before Sharma was stumped for 28.India cruised to the target on the back of Krishnamurthy's 90-ball 61, with more than 20 overs to spare.�
 Sepp Blatter said he will not support any of the five candidates standing to succeed him as FIFA president, through all but one of them had spoken to him about their bids.</strongWorld football's governing body, embroiled in a corruption scandal that has led to indictments against several dozen senior officials in the United States, will vote for its new leader on Feb. 26.Blatter is not standing, having been banned for eight years for ethics violations."Four of the five candidates have spoken to me. I cannot take sides, that is not possible," Blatter told French radio RMC.He said several national federations had asked him who they should vote for, but he told them to vote as they saw fit.Bahraini Royal Sheikh Salman bin Ebrahim Al Khalifa and UEFA general secretary Gianni Infantino of Switzerland are the two front-runners.The other candidates are Jordan's Prince Ali bin Al Hussein, Frenchman Jerome Champagne, the former deputy general secretary of FIFA, and South African businessman and politician Tokyo Sexwale.
 Islamabad United restricted Karachi Kings to 111 for nine in 20 overs in the second qualifying final of the first Pakistan Super League (PSL) here at the Dubai International Cricket Stadium on Saturday.After Islamabad United captain Misbah-ul-Haq, won the toss and put Karachi Kings into bat first, his bowlers did a commendable job to devastate the opponents. �Fast bowler Mohammad Sami, bowled extremely well to capture five wickets for just eight runs while fast bowler Andre Russell claimed two for 21.For Karachi Kings, stand-in captain Ravi Bopara was the only batsman, who showed some resistance against the accurate bowling by Islamabad United. He made 37 off 36 balls with a six and a four.Only two other batsmen, Lendl Simmons (19) and Ryan ten Doecshate (16) could make into the double figures.�
 Islamabad United captain Misbah-ul-Haq won the toss and decided to field first against Karachi Kings in the second qualifying final of the first Pakistan Super League (PSL) here at the Dubai International Cricket Stadium on Saturday.Three changes have been made in the Islamabad United team as Imran Khalid, Andre Russell and Samuel Badree will replace Saeed Ajmal, Azhar Mahmood and Ashar Zaidi.Shoaib Malik stepped down as Karachi Kings captain and Ravi Bopara will stand-in in his place.Today's losing team will get eliminated and the winner will play yesterday's losing team - Peshawar Zalmi. Quetta Gladiators, on the other hand, have already made it to the final.�
 Brendon McCullum blasted the fastest test century to rescue New Zealand before Australia were reduced to 57 for one by the close of day one of the second test on Saturday.</strongThe New Zealand captain scored a brilliant 145, with his first 100 runs coming from 54 balls, as the hosts were dismissed for 370 after tea at Hagley Oval in Christchurch.Trent Boult then had the dangerous David Warner caught at second slip by Martin Guptill for 12, before Joe Burns (27) and Usman Khawaja (18) saw the Australians through to the close.New Zealand had no right to be in the position they were at stumps after being sent in to bat by Steve Smith on a green wicket and reduced to 32 for three inside 20 overs.McCullum, playing his 101st and final test with his team trailing 1-0 in the two-match series, led a counter-attack that began before lunch and reached its bludgeoning best in the afternoon session.Fast bowlers were charged, nicks flew and improvisation mixed with pure cricket shots as McCullum and Corey Anderson took to Australia�s bowlers in 75 scintillating minutes after lunch.The onslaught came after McCullum was caught in the gully by Mitchell Marsh when on 39, only to be recalled as television replays showed fast bowler James Pattinson had over-stepped.Already bristling with aggression, the second life flicked a switch for McCullum and he went into all-out attack mode, reaching his century 24 balls later with his 16th boundary.He needed two fewer balls than the 56 that West Indies� Viv Richards required for his century against England in Antigua in 1986 and Pakistan�s Misbah-ul-Haq took against Australia in Abu Dhabi in 2014.McCullum also hit four sixes in his first 100 runs, his first before lunch securing outright ownership of the record for career sixes in test cricket.He had started the day tied with Australia�s Adam Gilchrist on 100. He was eventually dismissed when Nathan Lyon took a good catch in the deep to end a 179-run partnership with Anderson, who reached his fourth test half-century from 39 balls and was dismissed for 72 shortly before tea.Lyon grabbed two wickets after tea, with wicketkeeper BJ Watling the last man out for 58.Until McCullum and Anderson�s pyro-technics, Australia had been well in control, reducing the hosts to 74 for four with Kane Williamson�s dismissal for seven after lunch.Williamson had tried to rebuild New Zealand�s innings under pressure from superb pace bowling that captured the wickets of Martin Guptill (18), Tom Latham (four) and Henry Nicholls (seven).
 Aizaz Cheema took two wickets including the key one of Wahab Riaz in the last over to help Quetta Gladiators beat Peshawar Zalmi by only 1 run to reach the final of first-ever Pakistan Super League (PSL) here on Friday.Riaz got out on the penultimate delivery of the final over ironically caught by Ahmed Shehzad, who was involved with him in a collision when they faced each other in their encounter during the league stages.Mohammad Asghar could not hit the much needed boundary on the last ball giving away Gladiators the victory in a nail-biting finish to the match.Besides Wahab Riaz, only Darren Sammy put some resistance in the Gladiators way to the victory scoring 38 runs off 29 balls.Grant Elliottt and Mohammad Nawaz grabbed three wickets each while Cheema ended up with two wickets for 34 and Anwar Ali with a wicket for 28 runs. Nawaz was given the man of the match award for his brilliant all-round performance.Earlier, despite glimpses of brilliance from Kevin Pietersen and Kumar Sangakkara, Quetta Gladiators managed to post a moderate target of 134 for Peshawar Zalmi in the first playoff at the Dubai International Cricket Stadium.Pietersen made a 38-ball 53 including 5 fours and 2 sixes while the Sri Lanka great scored 37 off 29 with 6 fours. After that it was only Mohammad Nawaz who could score in double figures. He made 20 off 18.Rest of the batsmen came and departed one after the another, failing to cope with a relatively bowling friendly Dubai pitch.Wahab Riaz was brilliant with the ball grabbing three wickets for only 17 runs while his fast bowling partner Shaun Tait took two wickets for 23 runs.Hasan Ali, Mohammad Asghar, Shahid Afridi and Darren Sammy shared a wicket each for Zalmi.Peshawar Zalmi skipper Shahid Afridi had won the toss and elected to field first here at Dubai International Cricket Stadium earlier in the evening.Speaking at the toss, Afridi said they have made two changes for the match as Jonny Bairstow comes in for Tamim Iqbal and youngster Hassan Ali gets a game.�It is a fresh pitch. Our bowling has been very good� That�s why we�ve decided to bowl first,� said Shahid Afridi.Quetta Gladiators captain Sarfraz Ahmed said: �It is a big match. Hopefully, we qualify for the final. We have had great support from Quetta�.He said they have made two changes as well. Mohammad Nabi of Afghanistan has left to prepare for upcoming Asia Cup replaced by Nathan McCullum of New Zealand and Pakistani pacer Aizaz Cheema is in too.�
 Sharjeel Khan�s outstanding 117 off 62 balls led Islamabad United to score a solid total of 176 runs against Peshawar Zalmi in the 3rd qualifying final of the first Pakistan Super League here at the Dubai International Cricket Stadium on Sunday.Sharjeel Khan�s aggressive batting produced remarkable 117-62 with the help of 8 sixes and 12 fours.Khalid Latif made unbeaten 28 (21) with 3 fours while DR Smith scored 19 (39).SW Tait took two wickets for Peshawar Zalmi.Ealier, Peshawar Zalmi won the toss and put Islamabad United into bat.Peshawar Zalmi who lost the first qualifying final on Friday, has already defeated Islamabad United in both their league matches � first by 24 runs and other by seven wickets.Now they need to beat Islamabad United again to play the final against Quetta Gladiators on Tuesday.Teams:Peshawar Zalmi: Mohammad Hafeez, Dawid Malan, Kamran Akmal (wk), Shahid Yousuf, Brad Hodge, Shahid Afridi (captain), Darren Sammy, Wahab Riaz, Hasan Ali, Mohammad Asghar, Shaun TaitIslamabad United: Sharjeel Khan, Dwayne Smith, Asif Ali, Brad Haddin (wk), Khalid Latif, Misbah-ul-Haq (captain), Andre Russell, Samuel Badree, Imran Khalid, Mohammad Irfan, Mohammad Sami
 Peshawar Zalmi won the toss and elected to field first against Islamabad United in the third qualifying final of the first Pakistan Super League here at the Dubai International Cricket Stadium on Sunday.Peshawar Zalmi who lost the first qualifying final on Friday, has already defeated Islamabad United in both their league matches � first by 24 runs and other by seven wickets.Now they need to beat Islamabad United again to play the final against Quetta Gladiators on Tuesday.Teams:Peshawar Zalmi: Mohammad Hafeez, Dawid Malan, Kamran Akmal (wk), Shahid Yousuf, Brad Hodge, Shahid Afridi (captain), Darren Sammy, Wahab Riaz, Hasan Ali, Mohammad Asghar, Shaun TaitIslamabad United: Sharjeel Khan, Dwayne Smith, Asif Ali, Brad Haddin (wk), Khalid Latif, Misbah-ul-Haq (captain), Andre Russell, Samuel Badree, Imran Khalid, Mohammad Irfan, Mohammad Sami
 Italy�s Sara Errani thrashed Czech Barbora Strycova 6-0 6-2 to win the Dubai Tennis Championship final on Saturday.Former French Open runner-up Errani has fallen to 22nd in the WTA rankings after a slump but showed she is rediscovering her best form with a dominant display as she claimed her ninth title."It�s been a tough week and I�m really happy for me, my team and my family and friends," she told the WTA website.Despite the gulf in class, Errani struggled to close out the match when leading 5-1 in the second set, finally completing the job in the next game on her fifth match point.Next week sees the men take centre stage in Dubai as world number one Novak Djokovic returns to action for the first time since winning the Australian Open last month. (Reuters)�
 Faf du Plessis chose to chase for the second match in the T20 series as South Africa look to gain a "mental advantage over England." South Africa have won their last four matches batting second - three ODIs and the opening T20 - and du Plessis believes it has become a strong suit for a team that historically struggled when under pressure.South Africa made no changes to their winning XI from Cape Town which meant no space for Farhaan Behardien or Aaron Phangiso. Quinton de Kock is still being rested so Hashim Amla and AB de Villiers will get another chance to open together.England added some depth to their line-up with the inclusion of Sam Billings at the expense of David Willey. Reece Topley, who was reprimanded following his reactions to the last ball defeat at Newlands, kept his place.Earlier, England Women won chasing a low total on a cracked pitch that took some turn. But the skies have cleared and the afternoon is hot and runs aplenty are expected in this game.South Africa: �AB de Villiers (wk), Hashim Amla, Faf du Plessis (captain), JP Duminy, Rilee Rossouw, David Miller, David Wiese, Chris Morris, Kagiso Rabada, Kyle Abbott, Imran TahiEngland: Jason Roy, Alex Hales, Joe Root, Eoin Morgan (captain), Ben Stokes, Jos Buttler (wk), Moeen Ali, Sam Billings, Chris Jordan, Adil Rashid, Reece Topley. �
 Sarah Taylor scored a third successive half-century and became the second player after Charlotte Edwards to score 2000 runs in the format as England sealed the three-match series against South Africa 2-1. Taylor anchored a relatively straightforward chase - the first time England have batted second in the series - after captain Edwards opted to bowl first under cloudy skies and England restricted their opposition to 131 for 4.England took advantage of the swing on offer and reduced South Africa to 6 for 3 in the second over before Mignon du Preez and Lizelle Lee built the recovery. They shared an 89-run stand for the fourth wicket to engineer a strong comeback - Lee's unbeaten 69 off 61 balls was a career-best - but South Africa's score on a good pitch and a fast outfield, never looked enough.South Africa's problems started early when Tash Farrant, the left-armer making her first appearance in the series, had Trish Chetty stumped down the leg side off a wide. In the next over, Anya Shrubsole found movement and bowled Dane van Niekerk, who was playing in her 50th T20I, and Marizanne Kapp with successive inswinging deliveries. She was not far away from a hat-trick with another full and straight delivery to Lee but a thin inside edge saved the batsman.Lee kept her composure and rebuilt steadily with her captain, du Preez. They complemented each other well with Lee the aggressor and du Preez the accumulator. The ninth over was the most profitable with Lee taking 15 runs off Jenny Gunn before offering a chance. Lee was on 30 and hit the last ball of the over to long off but Heather Knight could not hold on.South Africa still had work to do at 49 for 3 at the halfway stage. Du Preez shifted gears and helped by some ordinary fielding from England, started to speed up the scoring rate. South Africa managed 26 runs in three overs before Farrant was brought back to quieten things down.With not even 100 on the board and only four overs left, South Africa's urgency grew. Du Preez was run out by a direct hit after a trying to steal a second off a Knight fumble and it was up to Lee to finish strongly. She reached 50 off 51 balls immediately after du Preez was dismissed and played a part in South Africa scoring 35 runs off the last three overs. They still ended with the lowest first-innings score of the series and would have known it would be tough to defend.England were into their task early when Amy Jones climbed into overpitched deliveries from Shabnim Ismail. She scored 14 runs off the first over before Ismail had her caught behind. But, as was the case in Cape Town when South Africa made the early breakthrough, it brought England's best pair together but this time it was not for too long. While Taylor scored freely, Edwards could not get away and gifted deep square leg a catch to give South Africa some hope, although with Taylor at the crease, England could always feel safe.Taylor went aerial with confidence and was strong on the drive and cut. With Knight playing a supporting role, England were well on their way. Taylor brought up fifty off 33 balls and thoughb Knight was dismissed off the next ball England needed just 40 off 58 balls.South Africa claimed a few consolation wickets - van Niekerk took a stunning one-handed return catch in her follow through to dismiss Taylor and Ismail bowled Nat Sciver and Danielle Wyatt with full deliveries in the same over - but England reached the target with 4.3 overs to spare. Tammy Beaumont, who had been moved down from opening to the middle, played confidently to finish unbeaten on 21.�
 Joe Burns and Steve Smith capitalised on perfect batting conditions to score centuries as Australia reduced New Zealand�s lead to just seven runs at the end of day two of the second Test on Sunday.Neil Wagner dismissed both batsmen in identical fashion in the final half-hour to give his side some late reward for a day of toil under a cloudless Christchurch sky.Burns, who had been dismissed early in his innings only to have the decision overturned on review, was well caught low down by Martin Guptill at square leg for 170, his highest Test score and third century.Smith also fell to a short ball in Wagner�s next over for 138, his 14th Test century, caught by the same fielder.Adam Voges was on two with nightwatchman Nathan Lyon on four as the visitors ended the day 363 for four, having all but mowed down New Zealand�s first innings 370.Having won the opener in Wellington comprehensively, Australia need only draw in Christchurch to clinch the two-match series and take the number one ranking in Test cricket.New Zealand�s only other success on a wicket offering little for the bowlers was when Usman Khawaja fell in the first hour for 24 off paceman Trent Boult.Burns and Smith then combined in a 289-run third wicket partnership, a record for Australia against New Zealand.Burns was given out caught behind on 35 but immediately asked for a review and television replays showed the Matt Henry delivery had brushed his forearm and not his gloves. (Reuters)�
 Islamabad United defeated Karachi Kings by nine wickets in the second qualifying final of the Pakistan Super League here at the Dubai International Cricket Stadium at Saturday night.Thus, Karachi Kings were eliminated whereas Islamabad United will play Peshawar Zalmi, who lost the first qualifying final to Quetta Gladiators.Quetta Gladiators have already made it to the final.After restricting Karachi Kings to a low score of 111 for nine, Islamabad United easily achieved the target in just 14.2 overs to win the match by nine wickets.They lost only one wicket � Sharjeel Khan, who was caught by Iftikhar Ahmed off Sohail Khan for� nine.Later, Dwayne Smith and Brad Haddin hit unbeaten fifties to cruise their team to victory.Haddin made 52 off 29 balls with three sixes and four boundaries while Smith scored 50 off 48 balls with seven fours and a six.Earlier, Islamabad United captain Misbah-ul-Haq, winning the toss put Karachi Kings into bat first and then his bowlers did a commendable job to devastate the opponents. �Fast bowler Mohammad Sami, bowled extremely well to capture five wickets for just eight runs while fast bowler Andre Russell claimed two for 21.For Karachi Kings, stand-in captain Ravi Bopara was the only batsman, who showed some resistance against the accurate bowling by Islamabad United. He made 37 off 36 balls with a six and a four.Only two other batsmen, Lendl Simmons (19) and Ryan ten Doecshate (16) could make into the double figures.��
 Pakistan Netball Federation (PNF) is set to organize 15th National Women Netball Championship from March 3 at Pakistan Sports Complex in Islamabad.</strongA total of 16 teams namely Army, Wapda, Police, Air Force, Navy, Railway, Higher Education Commission, Punjab, KPK, Balochistan, Sindh, Islamabad, FATA, AJK, Lahore Grammar School, LUMS University and Gilgit Balististan will participate in the tournament.Sindh team will defend the title of the tournament.Concluding ceremony of the Championship will be held on March 7.The championship was initially scheduled for January 2016 but due to South Asian Games preparation for the local event was postponed.
 Tom Latham and Kane Williamson steered New Zealand to 43 for one in their second innings at tea on Monday, after Martin Guptill went for a duck, as the hosts reduced Australia's lead on the third day of the second test to 92 runs.</strongNew Zealand were in trouble on eight for one when Guptill failed to move his feet and nibbled a catch through to Peter Nevill from James Pattinson.However, Latham and Williamson steadied the ship, reaching 33 and 10 respectively at the break.New Zealand, who posted 370 in their first innings, struggled to break down Australia's batting for more than four sessions but took five wickets in the first hour after lunch.The visitors had gone to lunch at 455 for five before Neil Wagner added the wickets of Adam Voges (60) and Mitchell Marsh (18) to the two he took on Sunday.Wagner then completed his second five-wicket haul when he had Nevill caught by wicketkeeper BJ Watling for 13, and then Josh Hazlewood caught at first slip by Brendon McCullum for the same score to end Austrlia's innings on 505.Wagner finished the innings with career-best figures of 6-106.Corey Anderson took the other wicket to fall after lunch, with Pattinson caught at point by Trent Boult, in New Zealand's most successful period in the two-match series.Spectators at the venue observed a minute's silence at 1251 (2351 GMT) to commemorate the fifth anniversary of a devastating earthquake in Christchurch that killed 185 people.Players from both sides wore black arm-bands for the day's play and stood while the big screen displayed a message remembering those who died.New Zealand's only success in the first session was when nightwatchman Nathan Lyon was well caught low down at slip by McCullum from part-time spinner Williamson for 33.Lyon and Voges had combined for 81 runs to frustrate New Zealand, with McCullum using seven different bowlers in the session in a bid to break through. The skipper even made a rare visit to the bowling crease himself, producing four overs of slow medium pace for three runs.Australia hold a 1-0 lead in the two-match series and only need to draw at Hagley Oval to retake the world's top ranking in test cricket.
 Sharjeel Khan�s smashing 117 off 62 balls steered Islamabad United to a comfortable 50-run win against Peshawar Zalmi and secured his team's place for the final against�Quetta Gladiators in the first Pakistan Super League (PSL) being played in UAE.</strongSharjeel Khan�s aggressive batting produced remarkable 117 (62) with the help of 8 sixes and 12 fours, taking Islamabad�s score to a solid 176 runs which later its bowlers made too difficult for Peshawar to achieve in the 3rd qualifying final of the PSL here at the Dubai International Cricket Stadium on Sunday.Chasing what became impossible target of 177 for Peshawar Zalmi, Karman Akmal emerged as the highest scorer with 45 (32). He hit 5 fours and 2 sixes. Shahid Afridi was the second best at 38 off 17 balls with the help of 4 sixes and 2 fours.Peshawar Zalmi could only put 126 runs on the score board before all its players got out in the 18th over.Imran Khalid made most of the damage by taking four wickets for Islamabad while AD Russell sent 3 players to the pavilion. Muhammad Irfan, S Badree and Muhammad Sami bagged one wicket each.Sharjeel Khan was declared man of the match.Ealier, Peshawar Zalmi won the toss and put Islamabad United into bat.The final showdown will be between Islamabad United and Quetta Gladiators on Tuesday (February 23).strong>Teams:</strongstrong>Peshawar Zalmi:</strong> Mohammad Hafeez, Dawid Malan, Kamran Akmal (wk), Shahid Yousuf, Brad Hodge, Shahid Afridi (captain), Darren Sammy, Wahab Riaz, Hasan Ali, Mohammad Asghar, Shaun Taitstrong>Islamabad United:</strong> Sharjeel Khan, Dwayne Smith, Asif Ali, Brad Haddin (wk), Khalid Latif, Misbah-ul-Haq (captain), Andre Russell, Samuel Badree, Imran Khalid, Mohammad Irfan, Mohammad Sami
 Ahmed Shehzad and Kumar Sangakkara struck dashing fifties to steer Quetta Gladiators to a big total of 174 runs for seven wickets against Islamabad United in the final of the first Pakistan Super League here at the Dubai International Cricket Stadium on Tuesday.</strongSent into bat by Islamabad United captain Misbah-ul-Haq, Quetta Gladiators lost two early wickets for 33 but then Shehzad and Sangakkara changed the scene adding 87 from 56 balls for the third wicket partnership.Shehzad scored 64 off 39 balls with nine fours and a six while Sangakkara made 55 off 32 balls with seven fours and two sixes.However, Quetta Gladiators set a rather difficult target of 175 runs for Islamabad United after losing seven wickets.Right-arm Fast bowler Andre Russell was the most successful bowler fro Islamabad United, taking three wickets for 36 while left-arm fast bowler Mohammad Irfan captured two for 25.�
 Islamabad United captain Misbah-ul-Haq won the toss and elected to field first against Quetta Gladiators in the final of the first-ever Pakistan Super League (PSL) here at the Dubai International Cricket Stadium on Tuesday.</strongThis is interesting to note that these two teams had played each other also in the opening match of PSL and then Quetta Gladiators had emerged victorious.No change has been made for the final by any of the two teams.Teams:Islamabad United: Sharjeel Khan, Dwayne Smith, Khalid Latif, Misbah-ul-Haq (captain), Brad Haddin (wk), Andre Russell, Samuel Badree, Mohammad Sami, Mohammad Irfan, Imran Khalid, Asif Ali./>Quetta Gladiators: Ahmed Shehzad, Bismillah Khan, Kevin Pietersen, Kumar Sangakkara, Sarfraz Ahmed (captain &amp; wk), Grant Elliott, Nathan McCullum, Aizaz Cheema, Anwar Ali, Mohammad Nawaz, Zulfiqar Babar.�
 Joe Burns and Usman Khawaja reduced Australia�s victory target to 131 runs with nine wickets in hand at the end of the fourth day of the second Test against New Zealand at Hagley Oval on Tuesday.Burns was on 27, while Khawaja was 19 not out with Australia 70 for one after being set 201 runs to win the match and series 2-0.They had earlier dismissed the hosts in their second innings for 335 after tea.David Warner was the only wicket to fall when he was caught down the leg side by BJ Watling from Neil Wagner for 22, though New Zealand needed to ask for a review to determine the ball had glanced his gloves.Jackson Bird grabbed his first five-wicket haul to help wrap up New Zealand�s second innings after tea that had been characterised by stubborn middle and lower-order resistance.Bird, who had grabbed three quick wickets after lunch, including the key scalp of Kane Williamson (97), bowled Matt Henry for 66 -- his first half century and highest score -- then had Trent Boult caught for a duck to finish with 5-59.James Pattinson finished with 4-77, but had the most important wicket in the final session on Tuesday when he dismissed Watling for 46 after the wicketkeeper had combined with Henry in a crucial 118-run partnership.Until their eighth-wicket stand, the hosts had been in danger of being dismissed with a lead of only about 100 after Bird had broken a 102-run partnership between Williamson and Corey Anderson (40) that had got their side into credit.The pair batted through a heated first session in which Australia dropped two catches, had two reviews turned down and an lbw decision overturned.The second review, just before lunch and against Williamson, prompted a petulant outburst from captain Steve Smith and Josh Hazlewood, with the tall fast bowler likely to face further sanctions after microphones picked up his expletive-laden rant.New Zealand had begun the day on 121 for four, 14 runs in arrears of Australia�s 505, but their stubborn resistance ensured the match would enter a fifth and final day.The target also appeared competitive though not overly challenging on a good batting surface and Australia should seal victory to reclaim the number one ranking in Test cricket, though Anderson said his side would make it tough for the visitors. (Reuters)�
 Pakistan�s inaugural national cricket league has been an unexpected success, even though all the matches have been played in the United Arab Emirates.</strongSince the Pakistan Super League (PSL) was announced last September, the country�s cricket board has sold five franchises for $93 million and attracted players from 11 different countries.They include big names like West Indies batsman Chris Gayle and former internationals Kumar Sangakkara of Sri Lanka and England�s Kevin Pietersen.The biggest surprise, however, has been the response from Pakistan�s public.Since matches began in the UAE on Feb. 4, television viewing figures have been higher than for the 2015 World Cup.Tuesday�s championship match between Islamabad United and Quetta Gladiators in Dubai is expected to attract similar figures.The match is sold out."Big businesses have bought the franchises, millions of people have tuned in even though the matches aren�t in Pakistan, and our own young cricketers are getting a chance to rub shoulders with giants," PSL chairman Najam Sethi told Reuters."This is the most extraordinary moment for Pakistani cricket since we were exiled from the international game."strong>HOME SOIL</strongIt is still unclear when the PSL will be able to stage its first match on home soil.Pakistan has been forced to play designated �home� matches primarily in the United Arab Emirates since 2009 when the Sri Lankan team was ambushed by militants while travelling from their hotel to Lahore�s Gaddafi stadium for a test match.Many see PSL as a turning-point, not just for the country�s cash-strapped cricket board but also for young cricketers who have missed out on opportunities to interact with and learn from leading international players.Among those who have bought the franchise are Habib Bank Limited, the country�s biggest bank, Haier Group, a major electronics and home appliances company, and Qatar Oil.If all goes according to plan, PSL will generate revenues of approximately $50 million, according to cricket board estimates.A 10-year forecast sees the board making profits of $50-60 million.Given the size of Pakistan�s potential market of 180 million people, cricket experts say it is possible to imagine the PSL becoming one of the world�s biggest cricket leagues."It would not be outlandish to say that PSL could soon be the world�s third largest league," Osman Samiuddin, author of The Unquiet Ones: A History of Pakistan Cricket, said, comparing PSL to the Indian and Australian domestic leagues."Looking at how successful this season has been, how much the public has enjoyed it, and the fact that it has generated a real revenue stream for the cricket board, I would say it�s possible."Despite the success of PSL�s first season, the real test for the cricket board will be if it can permanently bring the game back home."Next year, we hope to have at least the opening and closing PSL matches on Pakistani soil," PSL Chairman Sethi said. "That is the dream."
 Chairman Pakistan Super League (PSL) Najam Sethi has said that all the tickets of the final between Quetta Gladiators and Islamabad United have been sold out.</strongIn a message of twitter, Najam Sethi requested those who do not have tickets to PSL final in Dubai �Not to come to the stadium because all tickets have been sold out.� dir="ltr" lang="en">�He also said that Shahid Khan Afridi, captain Peshawar Zalmi, will also be coming to watch final of the PSL and cheer it to the end. dir="ltr" lang="en">�Quetta Gladiators and Islamabad United will clash in the final of Pakistan Super League in Dubai at 8:00 PST.
 Fifties from Hayley Matthews and Britney Cooper, followed by a five-wicket haul from fast bowler Deandra Dottin set up West Indies Women's 16-run win against South Africa Women in East London.West Indies, opting to bat, lost their opener Shaquana Quintyne early, but a 56-run stand for the third wicket between Matthews and Dottin lifted the team past 100. Matthews top-scored with 56, but both she and Dottin were trapped lbw by Sune Luus in quick succession, pegging the visitors back. Cooper, though, provided West Indies with much-needed impetus, stroking an unbeaten 55 off 66 balls, with six fours and a six. Cooper added 48 runs in the company of Shemaine Campbelle, as West Indies ended with 214 for 7.South Africa's opener Trisha Chetty made a steady start to the chase, scoring 47, but her dismissal in the 23rd over led to a slide, as quick blows from Dottin and Anisa Mohammed reduced the hosts to 120 for 7. Marizanne Kapp (69*) and Shabnim Ismail (34) put up a brief resistance, combining for a 70-run partnership, but Dottin and Quintyne eventually ran through the tail to bundle South Africa out for 198.Dottin was the pick of the bowlers with 5 for 34, her maiden five-wicket haul, while Quintyne and Anisa chipped in with two scalps apiece.
 India defeated Bangladesh by 45 runs in the opening Twenty20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Wednesday.Chasing a daunting target of 167, the hosts were restricted to 121 runs for seven wickets as no Bangladeshi batsman except Sabbir Rehman could resist against an accurate Indian bowling attack.Sabbir made 44 off 32 balls with two fours and as many sixes.Only four other batsmen could get into the double figures � Soumya Sarkar scored 11and Imrul Kayes made 14 while Mushfiqur Rahim and Taskin Ahmed remained not out on 16 and 15, respectively.Ashish Nehra was the most successful bowler for India claiming three wickets for 23 while Jasprit Bumrah, Hardik Pandya and Ravichandran Ashwin took one wicket each.Earlier, Rohit Sharma�s 55-ball 83 and late surge from Hardik Pandya steered India to a good total of 166 for six.Sent into bat by Bangladesh captain Mashrafe Mortaza, India made a disastrous start losing three wickets for 42 but Rohit, who opened the innings batted superbly and took his team out of trouble.Later Pandya slogged an 18-ball 31 with a six and four boundaries. Rohit also struck seven fours and three sixes.Among others, only Yuvraj Singh (15) and Suresh Raina (13) could get into the double figures.For Bangladesh, Al-Amin Hossain bagged three wickets for 37 while Mashrafe Mortaza, Mahmudullah and Shakib Al Hasan claimed one wicket each.At the end of the match, Rohit Sharma was given the Man-of-the-Match award.The second match will be played between defending champions Sri Lanka and minnows United Arab Emirates on Thursday.�
 Rohit Sharma�s 55-ball 83 and late surge from Hardik Pandya steered India to a good total of 166 for six against Bangladesh in the inaugural Twenty20 match of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Wednesday.Sent into bat by Bangladesh captain Mashrafe Mortaza, India made a disastrous start losing three wickets for 42 but Rohit, who opened the innings batted superbly and took his team out of trouble.Later Pandya slogged an 18-ball 31 with a six and four boundaries. Rohit also struck seven fours and three sixes.Among others, only Yuvraj Singh (15) and Suresh Raina (13) could get into the double figures while captain Mahindra Singh Dhoni, who played only the last two balls, hit eight runs including a six.Earlier, Shikhar Dhawan and Virat Kohli were dismissed cheaply for two and eight, respectively.Pacer Al-Amin Hossain was the most successful bowler for the hosts, capturing three wickets for 37 while Mashrafe Mortaza, Mahmudullah and Shakib Al Hasan claimed one wicket each.Before the match began, Dhoni passed a fitness test to remain in charge of his team. Hewho had suffered a back spasm during a practice session on Monday,Bangladesh left out Arafat Sunny, Nasir Hossain, Nurul Hasan and Abu Hider from their 15-man squad.Harbhajan Singh, Bhuvneshwar Kumar, Pawan Negi, Ajinkya Rahane and Parthiv Patel were not playing for India.��
 After having completed a successful season of the first Pakistan Super League in the United Arab Emirates, title aspirant Pakistan, one of the top sides of the continent, arrived in Dhaka to attend the 13th edition of the Asia Cup, Bengali media reported on Wednesday.The green shirt team landed at the Hazrat Shahjalal International Airport by a flight of Emirates at 7-30pm local time, reports said.After the Arrival in Dhaka, they will hold their first practice session at the National Cricket Academy (NCA) ground in Mirpur on Thursday).They will face India at the Shere�Bangla National Cricket Stadium in Mirpur on Saturday (February 27).Pakistan are the two-time Asian champions and interestingly on both occasions, they clinched the title in Bangladesh. First time in 2000 and then in 2012.However, Pakistan�s mission to success will be anything but an easy�go as they are set to receive stint challenge from Bangladesh whom they beat by 2 runs in the 2012 Asia Cup final.Besides, red�hot favourites India and defending champions Sri Lanka too can prove to be threats for them.Pakistan squad: Shahid Afridi (captain), Mohammad Hafeez, Shoaib Malik, Umar Akmal, Sarfraz Ahmed (wk), Sharjeel Khan, Imad Wasim, Anwar Ali, Mohammad Irfan, Wahab Riaz, Mohammad Amir, Mohammad Nawaz, Khurram Manzoor, Mohammad Sami, Iftikhar Ahmed.This year�s Asia Cup will be the�13th edition of the series that takes place once in two years, and will feature India, Pakistan, Bangladesh and Sri Lanka, in addition to one qualifying country United Arab Emirates.The Asia Cup will be played in the T20 format for the first time in the history of the tournament.Bangladesh will host the 2016 Asia Cup, with all matches set to be played at the Sher-e-Bangla Stadium in Mirpur. The tournament opens with Bangladesh taking on India. The final of the Asia Cup will be played on March 6. (Online)�
 Bangladesh captain Mashrafe Mortaza won the toss and put India into bat in the inaugural Twenty20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Wednesday.India captain Mahindra Singh Dhoni, who had suffered a back spasm during a practice session on Monday, passed a fitness test to remain in charge of his team.Bangladesh left out Arafat Sunny, Nasir Hossain, Nurul Hasan and Abu Hider from their 15-man squad.Harbhajan Singh, Bhuvneshwar Kumar, Pawan Negi, Ajinkya Rahane and Parthiv Patel were not playing for India.Teams:India: Shikar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, Mahindra Singh Dhoni (captain &amp; wk), Hardik Pandva, Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Ashish Nehra.Bangladesh: Imrul Kayes, Soumva Sarkar, Sabbir Rahman, Mahmudullah, Shakib Al Hasan, Mushfiqur Rahim (wk), Mashrafe Mortaza (captain), Mohammad Mithun, Al-Amin Hossain, Mustafizur Rahman, Taskin Ahmed.Umpires: Ruchira Palliyaguruge (SL) and Shozab Raza (PAK), TV umpire: � Enamul Haque (BD), Match referee: Richie Richardson (WI) ��
 Pakistan�s Twenty20 skipper Shahid Afridi is facing "huge pressure" from family and friends to not retire from international cricket in April at the end of the World T20 in India.</strongAfridi plays only T20 internationals for Pakistan and is now reconsidering his decision to quit the format.Talking to ESPNcricinfo in Dubai, Afridi said, "There is a lot of pressure on me that I shouldn't retire from T20. That I can play on, and as such there is no real talent coming through in Pakistan whose place I am taking."For a while now there is a lot of pressure from my family, a lot of pressure from my friends, including my elders, who say there is no need for me to retire from Twenty20. That is a huge pressure. For now, in truth, I am focusing only on the World Cup. That is a huge challenge for me.Afridi had announced his intention to retire from international cricket following the World T20.�
 Australia returned to the top of the test world rankings on Wednesday after Steve Smith and Adam Voges steered the tourists to victory in the second test against New Zealand to seal a comprehensive 2-0 series win.</strongAfter thrashing the hosts in the first test by an innings and 52 runs in Wellington last week, Australia sealed the second match by seven wickets shortly after lunch on the fifth and final day at Hagley Oval.It was Australia's seventh win in 11 games under Smith's captaincy, while the match was also the 101st and final test for New Zealand skipper Brendon McCullum, who now heads into international retirement.Australia were last at the summit of test cricket in July 2014 and Smith set course for a return when he assumed the captaincy from Michael Clarke full time after last year's Ashes loss to England."We want to win every series we play. We want to win a lot more away from home and that was a good start for us," Smith said. "We had a lot of patience in the way we played and ...all the guys are really confident in their skills."McCullum, who will still play on the lucrative Twenty20 circuit, praised his team mates for their achievements during his reign as captain."We've had some fun over the last few years," he said. "We've achieved some things and hey, we've lost some games as well, but we've got our soul back and you're absolutely great men."For the rest of my life I'll remember playing for New Zealand. I firmly believe this team will go to a new level over the next couple of years."Magnanimous McCullum also congratulated Australia on their return to the top of the rankings."You guys have proved why you are the number one test team in the world," he added. "When you arrived here we felt we were a chance and you blew us off the park in both tests and showed why you are such a quality team."Smith ended the match on 53 not out, his 16th test half century and follows up his 138 in the first innings. Voges hit the winning runs, a boundary through the covers to move to 10 and take the visitors to 201 for three.Australia had looked like achieving their victory target when they reached 169 for two at the scheduled lunch break before man of the match Joe Burns (65) was bowled by Trent Boult in the additional four overs offered by the umpires.Voges and Smith then opted to see out victory after the break.Usman Khawaja (45) was the only other wicket to fall in the first session on Wednesday when he was well held by McCullum at first slip off Tim Southee.Australia had only needed to draw the match at Hagley Oval to retake the top ranking in test cricket from India.
 �Islamabad United, led by Misbah-ul-Haq, became the champions of the first-ever Pakistan Super League, defeating Quetta Gladiators in a high-scoring final Twenty20 here at the Dubai International Cricket Stadium on Tuesday.Chasing a daunting target of 175, Islamabad United completed the six-wicket win with eight balls remaining. �Two fifty-plus partnerships by top-order batsmen played a vital role in this victory.Dwayne Smith added 54 with Sharjeel Khan (13) for the first and 85 with Brad Haddin for the second wicket.Smith made 73 off 51 balls with seven fours and four sixes while Haddin remained not out on 61, scored off 39 balls with five sixes and two boundaries.For Quetta Gladiators, Nathan McCullum, Anwar Ali, Aizaz Cheema and Zulfiqar Babar claimed one wicket each.Earlier, Quetta Gladiators compiled 174 for seven after being sent into bat by Islamabad United captain Misbah-ul-Haq, �who won the toss and decided to field first.Their main scorers were Ahmed Shehzad and Kumar Sangakkara who together made 87 from 56 balls for the third wicket partnership.Shehzad scored 64 off 39 balls with nine fours and a six while Sangakkara made 55 off 32 balls with seven fours and two sixes.Right-arm Fast bowler Andre Russell was the most successful bowler fro Islamabad United, taking three wickets for 36 while left-arm fast bowler Mohammad Irfan captured two for 25.Fast bowler Mohammad Sami and leg-spinner Samuel Badree took one wicket each.�
 Sri Lanka beat qualifiers the United Arab Emirates (UAE) by 14 runs in their first match of the Asia Cup Twenty20 tournament in Dhaka on Thursday.</strongA spirited UAE attack restricted Sri Lanka to a below-par 129-8 but their batsmen found the Sri Lankan bowlers too hot to handle before they were finally reduced to 115-9.Skipper Lasith Malinga claimed 4-26 for Sri Lanka while Nuwan Kulasekara picked up 3-10.Earlier, the United Arab Emirates captain Amjad Javed won the toss and elected to bowl first against Sri Lanka at the Sher-e-Bangla National Stadium.Sri Lanka had raced to 72 for 1 in the first ten overs but added only 57 in the next ten, for the loss of seven wickets.Lasith Malinga returned to the Sri Lanka team after recovering from a knee injury that he sustained during the squad's home series against West Indies last year.Angelo Mathews, Nuwan Kulasekara and Rangana Herath also returned to the team after missing their recent three-match T20 series in India.India beat hosts Bangladesh by 45 runs in the opening match of the Twenty20 tournament on Wednesday.
 The government has allowed Pakistan cricket team to participate in the matches of ICC World T20, scheduled in various venues in India from March 08, said�the Pakistan Cricket Board (PCB) Thursday.</strongThe country's cricket board had sought permission from the government for playing World T20 matches in India.Chairman PCB Shaharyar Khan, who is currently in Dhaka has expressed pleasure on the government permission, saying �I am pleased that that government has given its consent for our team to visit India.�He said as a duty of care, PCB had asked ICC to put in place special arrangements for the Pakistan cricket team.He said while in India �we will also be expecting visa facilitation and other arrangements for the Pakistani fans wishing to visit India for WC T20.
 Sepp Blatter and Michel Platini, once the two most powerful men in world football, had their bans for ethics violations upheld on Wednesday, although they were reduced from eight years to six.</strongThe 79-year-old Blatter, who served for 17 years as FIFA president, and Platini, 60, one of the greatest players of all time and UEFA president since 2007, had appealed against the bans imposed last October.The ruling came two days before FIFA holds a special elective Congress to appoint a successor to Blatter, who was President of the ruling body from 1998 before standing down four days after winning his final term of office last May.Neither man will be at Friday's Congress following the decision and Platini could hardly contain his wrath."The decision is insulting, shameful and is a violation of rights," he said in a statement."The charges against me are baseless, built from the ground up and surreal in view of the facts and the explanations I gave during the hearing."I will go to the end of my fight to show that I�m innocent, to restore my rights and identify who is responsible for this plot."There was no immediate response from Blatter.strong>DARK NIGHT</strongThe pair will now turn to the Court of Arbitration for Sport (CAS) for the last chance to restore their reputations and roles in the game.The final verdict from FIFA's headquarters, though, came on a rainy evening in Zurich.The statement issued by the Appeal Panel, while upholding the ban, did determine that "some strong mitigating factors for Mr Platini and Mr Blatter were not taken into account when establishing the sanction."One of the factors for reducing the ban was the pair's lifetime service to football.Blatter and Platini were banned over a payment of 2 million Swiss francs ($2.03 million) made to the Frenchman in 2011 by FIFA with Blatter's approval for work done a decade earlier.They said the payment honoured a verbal or gentleman's agreement made in 1998 for work carried out by the Frenchman when he was a technical adviser to Blatter.strong>SUSPENSION IMPOSED</strongThe decision not to overturn the bans followed the 12-year suspension imposed on Jerome Valcke, who was sacked as FIFA's secretary general last month.Valcke, the man responsible for running FIFA's day-to-day administration, was found guilty of misconduct over the sale of World Cup tickets, abuse of travel expenses, attempting to sell TV rights below their market value and destruction of evidence.Platini was European Footballer of the Year three times while Blatter worked at FIFA for 41 years after originally joining as Technical Director in 1975. He served as Secretary General from 1981 until he succeeded Joao Havelange as president in 1998.Blatter's reign was mired in controversy and the announcement that he was resigning came in June, less than a week after American and Swiss authorities arrested FIFA and other officials at a Zurich hotel on corruption charges, two days before the Congress and election took place.Platini was, for many years, regarded as Blatter's natural successor and they worked harmoniously before rifts occurred in their relationship.Platini was openly critical of Blatter in the run-up to last year's election, but both have been united again in being brought down by the scandal that has rocked their sport.��
 �Top ranked women�s doubles pair Martina Hingis and Sania Mirza had their 41-match winning streak halted on Thursday after they were beaten in the quarter-finals of the Qatar Open.The Swiss and Indian, the current Wimbledon, U.S. Open and Australian Open champions, were beaten 2-6 6-4 10-5 by Russian duo Elena Vesnina and Daria Kasatkina."That was an amazing match for us," Vesnina was quoted as saying by the WTA Tour."We played against them just a week ago, and they�re one of the greatest doubles teams we have in women�s tennis.I think everything worked today for us to win, and we�re just so excited about it."Mirza and Hingis had started their win streak in September at the U.S.<br/> Open, the first of nine straight titles.If they had won the Qatar event they would have tied Natasha Zvereva of Belarus and Czech Jana Novotna�s 1990 mark of 44 consecutive wins.The longest women�s doubles win streak is 109 matches, set by American pair Martina Navratilova and Pam Shriver between 1983 and 1985. (Reuters)�
 Fast bowler Liam Plunkett has replaced Steven Finn in England�s 15-man squad for next month�s World Twenty20 tournament in India.�Finn was ruled out due to a calf strain, the England and Wales Cricket Board said in a news release on Friday.Eoin Morgan�s team leave for India on March 8 and will face Sri Lanka, South Africa, West Indies and a qualifier in the group stage.Squad: Eoin Morgan (captain), Moeen Ali, Sam Billings, Jos Buttler, Liam Dawson, Alex Hales, Chris Jordan, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, Reece Topley, James Vince, David Willey. (Reuters)�
 Bangladesh defeated United Arab Emirates (UAE) by 51 runs in the third Twenty20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Friday.This was Bangladesh�s first victory from two matches while the UAE lost both the matches they have played so far in the tournament.Chasing a rather easy target of 134, the UAE made a pathetic start as their wickets were falling quickly and the whole team were bundled out for a mere 82 in 16.5 overs.Only three batsmen could get into the double figures as Muhammad Usman top scored with 30, followed by Rohan Mustafa (18) and Mohammad Shahzad (12).For Bangladesh, Mahmudullah, Mashrafe Mortaza, Mustafizur Rehman and Shakib Al Hasan bagged two wickets each for just five, 12, 13 and 20 runs, respectively.Taskin Ahmed and Al-Amin Hossain, who opened the bowling attack, claimed one wicket each.Earlier, Bangladesh made 133 for eight after being put into bat by the UAE captain Amjad Javed.Opener Mohammad Mithun top scored with 47, followed by an unbeaten 36 by middle-order batsman Mahmudullah while only two other batsmen Soumya Sarkar (21) and Shakib Al Hasan (13) got into the double figures.For the UAE, Mohammad Naveed and Amjad Javed captured two wickets each for 12 and 34, respectively while Mohammad Shahzad and Rohan Mustafa took one wicket each.The next match will be played between the two arch rivals, Pakistan and India, on Saturday at the same venue. �
 United Arab Emirates (UAE) restricted Bangladesh to 133 runs for eight wickets in the 20 overs here at the Shere Bangla national Stadium on Friday.After the UAE captain Amjad javed won the toss and put the hosts into bat, Bangladesh batsmen could not make a big score due to an accurate bowling display by the minnows.No Bangladeshi batsman could reach fifty as the highest score was 47, made by opener Mohammad Mithun, followed by an unbeaten 36 by middle-order batsman Mahmudullah. ��Only two other batsmen Soumya Sarkar (21) and Shakib Al Hasan (13) got into the double figures.For the UAE, Mohammad Naveed and Amjad Javed, who opened the bowling, captured two wickets each for 12 and 34, respectively while Mohammad Shahzad and Rohan Mustafa took one wicket each.Both teams made one change each as Nurul Hasan replaced Imrul Kayes for Bangladesh while Qadeer is replaced by Fahad Tariq for UAE.�
 The United Arab Emirates (UAE) captain Amjad javed won the toss and elected to bowl first against the hosts, Bangladesh in the third Twenty20 International of the Asia Cup 2016 here at the Shere Bangla national Stadium Mirpur on Friday.Both teams have made one change each. Nurul Hasan comes in Imrul Kayes for Bangladesh while Qadeer is replaced by Fahad Tariq for UAE.Teams:Bangladesh: Nurul Hasan, Soumya Sarkar, Sabbir Rahman, Mohammad Mithun, Mahmudullah, Shakib Al Hasan, Mushfiqur Rahim (wk), Mashrafe Mortaza (captain), Taskin Ahmed, Al-Amin Hossain, Mustafizur Rahman.UAE: Rohan Mustafa, Muhammad kaleem, Mohammad Shahzad, Muhammad Usman, Shaiman Anwar, Swapnil Patil (wk), Saqlain Haider, Amjad Javed (captain), Mohammad Naveed, Ahmed Raza, Fahad Tariq.�
 World cricket�s most intriguing rivalry will once again be renewed when India take on an unpredictable Pakistan with rehabilitated pacer Mohammed Amir being the focus of attention in a round�robin league encounter of the Asia Cup T20 tournament here today (Saturday).The match will also serve as a pre�cursor to the two teams opening round battle in the ICC World Twenty20 next month.The Indo�Pak cricket contests over the years have carried a legacy not to forget the political undercurrents involved whenever the two bitter neighbours square off on the 22 yards.But the most exciting aspect will be whether the tainted Amir gets to play in the XI.Back after serving a five�year ban for spot�fixing Amir has started playing for the national team since the tour of New Zealand and this immensely talented bowler will certainly come out all guns blazing against the Indian batsmen.Virat Kohli has already welcomed Amir s return but not much is known as to what other Indian players including skipper Mahendra Singh Dhoni think about the convicted spot� fixer s inclusion.In India, the BCCI has taken a zero tolerance approach imposing life bans on players like S Sreesanth, Ankeet Chavan, Ajit Chandila who have no hopes of returning to competitive cricket.For Amir, though a good performance against India will probably help him gain some credibility not only in the dressing room but also among the common cricket�loving public in Pakistan.In terms of preparation, both teams have been suitably prepared considering the amount of Twenty20 cricket they have played in the past one month.India already kicked off their World T20 preparations in style having won six out of the seven games played so far.Pakistan cricketers on the other hand are coming straight after playing in the Pakistan Super League (PSL) which keeps them well prepared.Traditionally, India have never ever lost to Pakistan in the global events but it has not been the case in the continental event where Shahid Afridi and co have performed well.However the Asia Cup has never been played in the T20 format which is also a first. (Online)�
 India and Pakistan will lock horns in the highly anticipated Asia Cup on Saturday at the Shere Bangla National stadium in Mirpur.</strongIndia are hot favourites during the mouth watering encounter. But in T20 format its very difficult to predict a winner.Pakistani all rounder Shoaib Malik said that though India have the winning momentum, Pakistan could give a tough fight to their old rivals.�Indian batsmen are very consistent but we have a good bowling attack. This is going to be a great game. This is going to be a big opportunity for players of both the teams,� Malik told a leading Hindi news channel.Malik, however, made it clear that his wife Sania Mirza would cheer for Team India this weekend.�We maintain the same status. She supports Team India and wants her husband to do well, perform well in the middle if he is playing,� he added.
 India Women's spinners stifled the Sri Lanka Women batting, squeezing them to 89 for 9 in their 20 overs, before the top three knocked off the target in 13.5 overs to complete a nine-wicket thumping in the third T20I in Ranchi. The win secured a 3-0 series sweep for India.Left-arm spinner Ekta Bisht was the standout bowler for India, claiming 3 for 17 in her four overs, while offspinners Anuja Patil and Deepti Sharma took 3 for 30 in eight overs between them. In a good team effort, all of India's bowlers except Poonam Yadav kept their economy rates below 5.After opting to bat, Sri Lanka got off to a poor start, losing Oshadi Ranasinghe fourth ball, before captain Shashikala Siriwardene was run out four balls later. A 33-run partnership between Nipuni Hansika and Chamari Atapattu provided Sri Lanka respite, but it was brief - when Bisht had Hansika stumped off the first ball of the tenth over, it opened a passage of play in which five wickets fell for 11 runs in 5.3 overs.An eighth-wicket partnership of 39 off 29 balls between Eshani Lokusuriyage and Ama Kanchana then steered the tourists to their final total of 89 for 9.India made light work of the chase, as openers Vellaswamy Vanitha and Smriti Mandhana put on 64 in 8.4 overs. Vanitha's dismissal was Sri Lanka's only success with the ball; Veda Krishnamurthy joined Mandhana to knock off the remaining 26 runs with 37 balls to spare.�
 Former all-rounder Azhar Mahmood was on Thursday appointed as Pakistan�s interim bowling coach for the ongoing Asia Cup and next month�s World T20, a cricket website reported on Thursday.He joined the squad in Dhaka on Thursday evening, reports said.Mahmood replaces former leg�spinner Mushtaq Ahmed for the two competitions, said the Pakistan Cricket Board (PCB).Ahmed has been rested but is expected to take over again ahead of the England tour in June this year.Mushi (Mushtaq) has been rested for two events as he was too fatigued, Pakistan�s team manager Moin Khan was quoted as saying by ESPN Cricinfo.�Azhar is a good replacement for the interim being a T20 specialist. He will join the squad later this evening.�The 40-year-old has been playing domestic cricket since his last international match in 2007.He has had vast experience in this format and featured in 225 T20 matches playing for various clubs and franchises in Pakistan, England, India, Bangladesh, West Indies and New Zealand.He has also enjoyed minor coaching roles in private clubs in the United Arab Emirates (UAE) and England. (Online)���
 Crisis-hit world football governing body FIFA faces one of the most important days in its 112-year history when it elects a new leader on Friday hoping to usher in a fresh era after decades of tawdry controversy.</strongDelegates from more than 200 countries will vote for a new president to succeed Sepp Blatter, two days after the disgraced Swiss and European football chief Michel Platini lost their appeals against bans for ethics violations.A wide-ranging set of reforms, which are designed to prevent corruption, will be voted on before the FIFA election and are expected to be passed. They include term limits for top officials and disclosure of their earnings.Whoever takes over from Blatter, who ran FIFA for 17 years like a globe-trotting head of state, will inherit a very different job with the focus on crisis management, after dozens of international football officials were indicted in the United States last year for racketeering, money-laundering and bribery.Asian Football Confederation (AFC) president Sheikh Salman bin Ebrahim Al Khalifa is the bookmaker's favourite with UEFA's Swiss general secretary Gianni Infantino a close second.Jordanian Prince Ali Bin Al Hussein believes he is still firmly in the race however, while Frenchman Jerome Champagne and South African Tokyo Sexwale will hope to make an impact.There was little indication on Thursday, though, that the vote would be anything other than a two-horse race between Sheikh Salman and Infantino."I am feeling good and very positive. The support I am receiving fills me with confidence,� Infantino told Reuters.A spokesman for his Bahraini rival said: "Sheikh Salman is very confident about tomorrow�s vote."The CONCACAF confederation for North and Central America and the Caribbean opted against endorsing a candidate and delegates suggested that support within the region was divided.With no block vote from those 35 delegates, Africa's decision now looks set to be the decisive factor.African countries make up more than a quarter of the 207 football associations eligible to vote. On the final day of campaigning, there were sharply conflicting versions of how they would cast their ballots.While the vice-president of their continental federation said virtually all would back Sheikh Salman, several delegates told Reuters the African vote would be split.Infantino has said he was confident of winning more than half of the African votes, while Liberian football chief Musa Bility predicted the possibly unlikely scenario of 27 of the region's votes going to Jordan's Prince Ali."The world is waiting and watching -- this is the biggest milestone in the history of FIFA. It will decide if FIFA goes ahead as we want or if it spirals down," Prince Ali told delegates.Former anti-apartheid militant turned businessman and politician Sexwale described FIFA as broken and a damaged brand, though he also referred to some of those felled in the scandal as "friends we have lost".Infantino repeated his promise to offer each of FIFA's members $5 million to invest in the sport over four years, more than doubling the $2.05 million each federation got from 2011-14. He said this could be achieved "easily" by tackling the cost structure of FIFA.Bahrain's Salman was again more cautious, though, speaking of a 'realistic' increase in funding."For me, if the numbers are right, we can increase -- but I am not ready to mortgage FIFA�s future in winning an election."French outsider Champagne took a shot at Infantino�s globe-trotting campaign by saying the election had been "unbalanced"."I did not have a private jet to visit you, take a photo and then tweet and say I have got the endorsement," he said to laughter from delegates.Prince Ali told UEFA delegates if he won the election he would appoint a European as his secretary general but did not offer up a name.CORRUPTION PROBESFIFA was plunged into turmoil by the corruption scandal that broke last year, beginning with a dawn raid to arrest delegates at a Swiss luxury hotel.Criminal investigations led by the United States and Switzerland have spanned dozens of countries, focusing largely on the awarding of lucrative broadcast and marketing rights to the world's most popular sport.They are also examining the process by which FIFA awarded the next two World Cups to Russia and Qatar.Acting FIFA president Issa Hayatou appealed to FIFA members in what he called one of the most important weeks in the history of global football, calling on them to back the package of reforms on governance."I urge each of you to support the reforms in full here this week, and then to implement them to their entirety at home," Hayatou said in an address aimed at the six confederations that run football around the world."This will send a strong message that we have listened and that we are taking the action necessary to give football the Foundation, and protection, it needs for the future."
 India recorded a five-wicket win after a tough fight against their arch rivals Pakistan in the low-scoring fourth Twenty20 International of the Asia Cup 2016.Earlier, their captain Mahindra Singh Dhoni winning the toss, put Pakistan into batting and then his bowlers dismissed the whole team for a mere 83 in 17.3 overs here at the Shere Bangla National Stadium, Mirpur on Saturday night.However, chasing an easy target of 84 proved difficult for India as they lost five top-order batsmen before completing the victory in 15.3 overs.After making a disastrous start, losing three quick wickets facing a deadly spell by fast bowler Mohammad Amir, Virat Kohli and Yuvraj Singh repaired the damage scoring 68 runs together for the fourth wicket.Amir getting rid off both the openers � Rohit Sharma and Ajankya Rahane - in the opening over, he grabbed the wicket of Suresh Raina in his second over.Later, fast bowler Mohammad Sami dismissed Kohli and Hardik Pandya in the space of three balls of his fourth over but then India were just eight runs away from their victory.Then Dhoni along with Yuvraj completed the victory in the 16th over. �Kohli made 49 while Yuvraj and dhoni remained not out on 14 and seven.Amir finished with three for 18, his career-best in T20I cricket while Sami bagged two for 16.Earlier, Pakistan avoided the embarrassment of making a record of the lowest total in the Asia Cup Twenty20 tournament as it went to the United Arab Emirates, who were all out for 82 last night against Bangladesh.Only two batsmen � Sarfraz Ahmed (25) and Khrram Manzoor (10) �- could get into the double figures.Seamer Hardik Pandya was the most successful bowler for India, taking three wickets for just eight runs while slow left-arm bowler Ravindra Jadeja grabbed two for eleven.Jasprit Bumrah and Ashish Nehra claimed one wicket each.
 Pakistani batsmen gave pathetic performance to being dismissed for a mere 83 against their arch rivals India in their first match in the Asia Cup 2016 here at the Shere bangle national Stadium in the Wednesday night.Sent into bat by India captian Mahindra Singh Dhoni, Pakistani batsmen could not resist against the opponents� bowling and the whole team was bowled out in 17.3 overs.However, they avoided the embarrassment of making a record of the lowest total in the Asia Cup Twenty20 tournament as it went to the United Arab Emirates last night against Bangladesh.Only two batsmen � Sarfraz Ahmed (25) and Khrram Manzoor (10) �- could get into the double figures.Seamer Hardik Pandya was the most successful bowler for India, taking three wickets for just eight runs while slow left-arm bowler Ravindra Jadeja grabbed two for eleven.Jasprit Bumrah and Ashish Nehra claimed one wicket each.India made one change in their team as Ajinkya Rahane replaced Shikhar Dhawan who has a niggle.Pakistan are playing their first match in the tournament whereas India had won their first match, the inaugural T20I of Asia Cup, against the hosts, Bangladesh on Wednesday. 
 Pakistan have lost six early wickets for only 43 runs against India in Asia Cup Match being played at the Mirpur's Sher Bangla Stadium.India won the toss and decided to bowl first in their second game of Asia Cup. No Pakistani batsman has so far been able to resist the opposition bowling line up.Pakistan are playing their first match in the tournament whereas India had won their first match, the inaugural T20I of Asia Cup, against the hosts, Bangladesh on Wednesday.Teams:Pakistan: Sharjeel Khan, Khurram Manzoor, Mohammad Hafeez, Shoaib Malik, Umar Akmal, Shahid Afridi (captain), Sarfraz Ahmed (wk), Mohammad Sami, Wahab Riaz, Mohammad Amir,Mohammad Irfan.India: Ajinkya Rahane, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, Hardik Pandya, Mahindra Singh Dhoni (captain &amp; wk), Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Ashish Nehra.
 India captain Mahindra Singh Dhoni won the toss and elected to field first against Pakistan in the fourth Twenty20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Saturday.India have made one change in their team as Ajinkya Rahane has replaced Shikhar Dhawan who has a niggle.Pakistan are playing their first match in the tournament where as India had won their first match, the inaugural T20I of Asia Cup, against the hosts, Bangladesh on Wednesday.Teams:Pakistan: Sharjeel Khan, Khurram Manzoor, Mohammad Hafeez, Shoaib Malik, Umar Akmal, Shahid Afridi (captain), Sarfraz Ahmed (wk), Mohammad Sami, Wahab Riaz, Mohammad Amir,Mohammad Irfan.India: Ajinkya Rahane, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, Hardik Pandya, Mahindra Singh Dhoni (captain &amp; wk), Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Ashish Nehra.
 Gianni Infantino vowed on Friday to lead FIFA out of years of corruption and scandal after the former UEFA general secretary was elected to succeed his Swiss compatriot Sepp Blatter as president of football's world governing body.</strong"We will restore the image of FIFA and the respect of FIFA, and everyone in the world will be proud of us," the 45-year-old law graduate, who for the last seven years has been the leading administrator for Europe's governing body, told an extraordinary FIFA Congress in Zurich."I feel a lot of emotion and have not realised yet what has happened today."After a first round of voting in which he narrowly beat Asian Football Confederation President Sheikh Salman bin Ebrahim Al Khalifa of Bahrain, Infantino appeared to gather up almost all the votes that had been cast for the two trailing candidates, Prince Ali and Jerome Champagne.He won 115 of the 207 votes in the second round, giving him a simple majority ensuring a European again holds the top job until 2019 and frustrating the hopes of those looking for a swing to Asia.Infantino owed his candidacy to the fact that Europe's preferred candidate, his former boss and UEFA president Michel Platini, was banned from football last year along with Blatter for ethics violations."I thank Michel Platini for everything that he has taught me and given me and the work we have done together," Infantino said. "I have strong, dear thoughts for Mr Michel Platini right now."Only the ninth president in FIFA's 112-year history, he inherits a very different job from that enjoyed by Blatter, who toured the world for 17 years like a head of state, dispensing development funds to his global support base.Before the election, the Congress had overwhelmingly passed a set of reforms intended to make FIFA more transparent, professional and accountable.That package should mean the new president faces much closer scrutiny than Blatter did -- his salary will be published for the first time -- and have less influence over the day-to-day management of the organisation's business affairs.
 �The biggest match of Asia Cup would be played between two traditional rivals Pakistan and India today in Mirpur stadium. The first match of the event would be played at 6.30 pm.As per details, according to new format of Asia Cup, both the teams would play new format cricket. Both the teams had conducted hard training session.The Pakistani cricket team participated in the training session under the leadership of head coach Waqar Younas and bowling coach Azhar Mahmood, respectively.During the training, bowling, batting and fielding were specially focused while on the other hand Indian team started its practice with wet balls.According to video shared by BCCI, the Indian fielding coach Rama Crishna Siri has been shown while dipping ball in water bucket and throwing it to players standing at various directions.Shahid Afridi, Pakistan cricket team captain said after the training session that Indian team was in form and bating line of Pakistani cricket team was also strong.He added that attention was being paid to T20 World Cup for the time being not on the retirement.He said that Pakistan extend first their hands with India and politics and sports should be kept separate. Unusual significance was given to Pak- India match by the spectators therefore spectators would be dishearted if politics was introduced in sports.Waqar Younus, head coach of national cricket team said that Asia Cup would be benefitted with the participation of Pakistan Super League, however worries would be faced due to injury of players.He added that Asia Cup and World T20 are two important tournaments and expressed the hope that Green Shirts would be succeeded if every player of the team showed PSL-like performance.Waqar Younus further said that he does not care about his job but it is his desire that Pakistan secure victory.Six T20 Internationals have so far been played between the two countries. India won four while Pakistan won one match and one T20I tied. (Online)�
 Coming jubilant from UAE following successful holding of Pakistan Super League (PSL), but the men in green conceded a humiliating defeat from arch-rival India in their Asia Cup opener, which they would want to forget as soon as possible starting with a big victory against minnows UAE when the two teams clash on Monday here in Mirpur.�For its part, Pakistan was taken by surprise at the way the pitch played on Saturday,� Shoaib Malik said after Pakistan was defeated by India.Pakistan slipped and slid to 83 against India, Sarfraz Ahmed�s 24-ball 25 the only innings of substance. Mohammad Amir put in a fantastic spell at the top of India�s innings to keep Pakistan in the game, but only just.�We made some mistakes. We didn�t know what the conditions here would be. Now we have played, now we know how to deal with it,� said Malik on the sidelines of the Pakistan team�s training session on the afternoon before the match.�We had miscalculated. It wasn�t a typical T20 wicket where you look at 170 or 180. We know we have the best attack among all teams. But the batsmen have to take responsibility. Whoever gets in has to score 60-70, so the team ends up scoring 140-150, which the bowlers can defend.�We should have scored 130. We had two run outs. Otherwise one of them might have gone on to score 40-50. Here, 130-plus is a great score, unless the conditions change.�<br/> <br/> It�s unlikely that Pakistan will be worrying too much about its bowling. Amir, as well as Mohammad Sami, bowled extremely well against India, while Mohammad Irfan troubled India�s batsmen no end. Wahab Riaz did, however, have an average day, but it could well have been an aberration.Like with UAE, it�s the batting that Pakistan has to address. And fast. Both Sri Lanka and Bangladesh have already beaten UAE and India could too, going by form. So winning on Monday is non-negotiable for Pakistan. But the idea must be put up a big performance - with the ball, of course; even more so with the bat.<br/> <br/> Since qualifying for this level in 2014, UAE has played three Twenty20 Internationals against Test-playing nations, two of them in this tournament and one against Zimbabwe earlier. To its credit, UAE have gone about it manfully, bowling well and showing good spirit on the field. Sri Lanka was restricted to 129 for 8 and Bangladesh for a similar 133 for 8. But with the bat UAE has fallen behind. <br/> <br/> Teams (from)Pakistan: Shahid Afridi (captain), Anwar Ali, Iftikhar Ahmed, Imad Wasim, Khurram Manzoor, Mohammad Amir, Mohammad Hafeez, Mohammad Irfan, Mohammad Nawaz, Mohammad Sami, Sarfraz Ahmed (wk), Sharjeel Khan, Shoaib Malik, Umar Akmal, Wahab Riaz.UAE: Amjad Javed (captain), Ahmed Raza, Fahad Tariq, Farhan Ahmed, Mohammad Naveed, Mohammad Shahzad, Muhammad Kaleem, Muhammad Usman, Swapnil Patil, Qadeer Ahmed, Rohan Mustafa, Saqlain Haider, Shaiman Anwar, Usman Mushtaq, Zaheer Maqsood. (PPI)�
 Bangladesh recorded an upset 23-run victory against Sri Lanka in the fifth Twenty20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium Mirpur on Sunday.Chasing a modest total of 148, Sri Lanka were looking set for an easy win when �they were 76 for one in the eleventh over but as soon Chandimal got out their collapse began and they were later restricted to 124 for eight in the 20 overs.Opener Dinesh Chandimal top-scored with 37 from as many balls with four boundaries, followed by Shehan Jayasuriya, who scored 26 off 21 balls with two sixes and a four.For Bangladesh, Al-Amin Hossain claimed three wickets for 34 and Shakib Al Hasan grabbed two for 21.Earlier, captain Mashrafe Mortaza won the toss and opted to bat first but Bangladesh made a disastrous start losing both the openers for only two runs on the board. Soumya Sarkar and Mohammad Mithun, both got ducks.Later Mushfiqur Rahim also made exit, run out for four, and Bangladesh were reeling on 26 for four in 4.5 overs.Then Sabbir and Shakib Al Hasan repaired the damage and added 82 runs in 15 overs for the fourth wicket.Sabbir scored 80 off 54 balls, hitting ten fours and three sixes.Later Shakib also departed for 32 and then Nurul hasan and Mashrafe also got out cheaply but Mahmudullah with his unbeaten 23 steered his team to 147 for seven in the 20 overs.Fast bowler Dushmanta Chameera was the most successful bowler for Sri Lanka, taking three wickets for 30 runs.�
 Sabbir Rahman played a magnificent innings of 80 to enable Bangladesh set a daunting target of 148 runs for Sri Lanka in the fifth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Sunday.After captain Mashrafe Mortaza won the toss and opted to bat first Bangladesh made a disastrous start losing both the openers for only two runs on the board. Both Soumya Sarkar and Mohammad Mithun got a duck each.Later Mushfiqur Rahim also made exit, run out for four and Bangladesh were reeling on 26 for four in 4.5 overs.Then Sabbir and Shakib Al Hasan repaired the damage and added 82 runs in 15 overs for the fourth wicket.Sabbir scored 80 off 54 balls, hitting ten fours and three sixes.Later Shakib also departed for 32 and then Nurul hasan and Mashrafe also got out cheaply but Mahmudullah with his unbeaten 23 steered his team to 147 for seven in the 20 overs.Fast bowler Dushmanta Chameera was the most successful bowler for Sri Lanka, taking three wickets for 30 runs.
 Bangladesh captain Mashrafe Mortaza won the toss and decided to bat first in the fifth Twenty20 International of the Asia Cup 2016.The hosts, Bangladesh will keep the same team which had won their second match in the tournament against the United Arab Emirates while Sri Lanka have made one change as their captain Lasith Malinga is not playing due to knee injury. He has been replaced by Thisara Perera.Angelo Mathews will lead Sri Lanka in the absense of Malinga.Mirpur has seen low-scoring games so far in the main draw. The weather is expected to be good for this match being played at the Shere Bangla National Stadium.Teams:Bangladesh: Soumya Sarkar, Mohammad Mithun, Sabbir Rahman, Mushfiqur Rahim, Shakib Al Hasan, Mahmudullah, Nurul Hasan (wk), Mashrafe Mortaza (captain), Al-Amin Hossain, Mustafizur Rahman, Taskin AhmedSri Lanka: Dinesh Chandimal, Tillakaratne Dilshan, Milinda Siriwardana, Dasun Shanaka, Angelo Mathews, Chamara Kapugedara, Shehan Jayasuriya, Nuwan Kulasekara, Rangana Herath, Dushmantha Chameera, Thisara Perera.�
 Stan Wawrinka edged out Cypriot Marcos Baghdatis in a nerve-jangling, near-30 minute tiebreak to secure the Dubai Duty Free Championship with a 6-4 7-6(13) triumph on Saturday.Wawrinka�s path to victory had been eased by the retirements of world number one Novak Djokovic and Australian prospect Nick Kyrgios in the earlier rounds but the Swiss often toiled against surprise finalist Baghdatis, whom he beat for a sixth successive time.World number four Wawrinka was gifted the first set by a Baghdatis double fault -- his third of that game alone -- and a tepid second set was notable for not featuring a single break point.But then followed a 28-point tiebreak in which twice grand slam champion Wawrinka saved five set points before a Baghdatis backhand drifted long to give the Swiss a second title of the year following his victory in Chennai in January.Baghdatis initially played serve and volley with aplomb, while Wawrinka�s stinging backhand was lethal from the baseline, but that early assurance proved fleeting as both players made a catalogue of errors.Wawrinka afforded Baghdatis two break points after whipping a forehand wide and the Cypriot converted following another wayward Swiss forehand for a 3-2 first-set lead.Wawrinka, who was within two points of suffering opening-round elimination at the Aviation Club, immediately broke back with a crosscourt winner past the advancing Baghdatis, who was seeking a first title since 2010.The pair were content to trade half-paced shots from the back of the court and when either did up the tempo it usually failed.World number 57 Baghdatis, serving at 4-5, saved four set points but his serve deserted him again as he conceded the set.The second set went with serve before an attritional tiebreak in which Baghdatis fluffed chances to square the match and Wawrinka threw his racket in frustration after missing an easy forehand. (Reuters)�
 Trisha Chetty and Dane van Niekerk both stroked half-centuries, paving the way for South Africa Women's 35-run win against West Indies Women in East London. Victory was not of much significance, though, as West Indies had already sealed the three-match series having won the first two ODIs.South Africa, opting to bat, compiled a score of 235 for 6, built on the back of two big partnerships. First, Chetty (55) and Mignon du Preez (43) added 72 for the second wicket, before Marizanne Kapp (39) and van Niekerk provided the innings late impetus by stringing together a 64-run fifth-wicket stand. Van Niekerk slammed 55 off 48 balls before being run out.West Indies, in reply, lost their opener Hayley Matthews early in the chase, but Shaquana Quintyne and Kyshona Knight led a recovery with a 57-run partnership for the second wicket. However, just when they seemed steady, the visitors lost wickets in a cluster to soon fall to 118 for 5. Merissa Aguilleira and Shemaine Campbelle offered the team some hope by adding 52 for the sixth wicket, but Aguilleira's wicket in the 43rd over left the lower order with too much to do, as West Indies could only muster 200 for 8 from their 50 overs.Masabata Klaas and Sune Luus snared two wickets apiece, while Kapp, Ayabonga Khaka and van Niekerk chipped in with one each.�
 Shoaib Malik and Umar Akmal guided Pakistan to a seven-wicket victory after an early collapse against the United Arab Emirates (UAE) in the sixth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Monday night.Chasing 130, Pakistan made a disastrous start as UAE captain and medium-pacer Amjad Javed sent three top-order batsmen � Sharjeel Khan (4), Khurram Manzoor (naught) and Mohammad Hafeez (11) - back to the pavilion for only 17 runs on the board.Then Shoaib Malik and Umar Akmal came to rescue through steady batting and gradually took the charge.Both completed fifties and steered Pakistan to win with eight balls to spare after a 114-run unbeaten fourth wicket partnership.Malik scored 63 off 49 balls with three sixes and seven fours while Akmal made exact fifty off 46 balls with three sixes and two boundaries.Javed was the only wicket-taker for the UAE with three for 36.Earlier, UAE batted first after winning the toss but lost three wickets for only 12 runs in four overs.However, it was Shaiman Anwar, who repaired the damage with his courageous batting against the pace trio of Mohammad Amir, Mohammad Irfan and Mohammad Sami. batted first but made a disastrous start losing three wickets to Pakistan pacers for only 12 runs in four overs.However, it was Shaiman Anwar, the most in-form batsman of the UAE, who repaired the damage with his courageous batting against the pace trio of Mohammad Amir, Mohammad Irfan and Mohammad Sami. He made 46 off 42 balls with two sixes and five fours.Later, Muhammad Usman and captain Amjad Javed added 46 runs from 32 balls before Usman was bowled by Amir for 21off 17 balls with two fours and a six.The UAE, however, reached 129 for six by the end of the 20th over with Javed remained not out on 27, hitting two sixes and three fours in 18 balls. ��Amir bowled remarkably well to finish with two for six in four overs while Irfan also grabbed two wickets but conceded 30 runs in four overs. Sami and Afridi got one wicket each.Both teams made one change each as Pakistan rested fast bowler Wahab Riaz for left-arm spinner Mohammad Nawaz, who his international debut. Usman Mushtaq replaced Saqlain Haider for the UAE.Pakistan became the first country to play 100 T20 Internationals. They have won 58 matches. �
 The United Arab Emirates (UAE), the minnows of cricket made a brave attempt against the best pace attack of the world, setting a good target of 130 for Pakistan in the sixth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Monday.After winning the toss, they batted first but made a disastrous start losing three wickets to Pakistan pacers for only 12 runs in four overs.However, it was Shaiman Anwar, the most in-form batsman of the UAE, who repaired the damage with his courageous batting against the pace trio of Mohammad Amir, Mohammad Irfan and Mohammad Sami.He made 46 off 42 balls with two sixes and five fours.Later, Muhammad Usman and captain Amjad Javed added 46 runs from 32 balls before Usman was bowled by Amir for 21off 17 balls with two fours and a six.The UAE, however, reached 129 for six by the end of the 20th over with Javed remained not out on 27, hitting two sixes and three fours in 18 balls. ��Amir bowled remarkably well to finish with two for six in four overs while Irfan also grabbed two wickets but conceded 30 runs in four overs. Sami and Afridi got one wicket each.Both teams made one change each as Pakistan rested fast bowler Wahab Riaz for left-arm spinner Mohammad Nawaz while Usman Mushtaq replaced Saqlain Haider for the UAE.Nawaz has made his international debut. The 21-year old is the youngest member of the squad and a fine Pakistan Super League discovery with 13 wickets in 10 matches.This is for the first time Pakistan and UAE are playing each other in T20 internationals. They had played three ODIs before in 1994, 1996 and 2015.Pakistan became the first country to play 100 T20 Internationals. They have so far won 57 matches.�
 BVS Parsi school emerged as the most formidable force at the Horlicks 17th Inter School Scrabble Championship, bagging the highest number of positions in all age groups.</strongThe Championship turned out to be a mega event with over 750 players participating under one roofAccording to the tournament director Tariq Pervez, it was one of the biggest scrabble tournaments of all times in the world and the biggest tournament of any single sport in PakistanPlayers from around 100 schools and colleges took part. For the first time shuttle buses were arranged to transport such a large number of players from different parts of the city.There was a large attendance from other cities. Players from as far as Peshawar flew in to participate.BVS Parsi school topped with highest number of positions in all age groups.Sabir Khwaja from Hyderabad and Muhammad Hussain from Quetta also finished among award winners.Chief guest Ms Tooba Hussain distributed prizes among winners.A group of 80 top performers (under 18 years of age) will be chosen for training while ten of them will finally be picked up to represent Pakistan at the World Youth Scrabble Championship to be played in France in August.Pakistan is a proven force at the youth Level in Scrabble having produced a World Champion and 2 runners up besides many other accolades in recent yearsHere are the winners:strong>Category A</strong><br/>1- Monis Hussain Khan (BVS Parsi School)<br/>2- Rahim Asif (BVS Parsi School)<br/>3- M. Raza Yasin (BVS Parsi School)/><strong>Category B</strong><br/>1- Syed Imaad Ali (BVS Parsi School)<br/>2- Umna Saad (Jaffer Public School)<br/>3- Dominique Rodriguesstrong>Category C</strong><br/>1- Mahrukh Zaim (Arts &amp; Science Academy)<br/>2- M. Fayzan Farooq (Jaffar Public School)<br/>3- Muhammad Usman (Army Public School)strong>Category D</strong><br/>1- Basil Ali Khan (Jaffar Public School)<br/>2- Aleeza Ahmed (St. Jude's High School)<br/>3- Danial Iqbal (The City School PAF Chapter)strong>Category E</strong><br/>1- Maryam Pardesi (St. Michael's convent School)<br/>2- Nadia Aslam (SM Public Academy)<br/>3- Imaad Amin Rajan (The City School PECHS)strong>Category F</strong><br/>1- Murtaza Darbar Habib Public School)<br/>2- Muhammad Hussain (Paragon Educational Academy, Quetta)<br/>3- Sabir Khwaja (Aga Khan School, Hyderabad)
 Captain of the United Arab Emirates (UAE), Amjad Javed �won the toss and elected to bat first against Pakistan in the sixth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Monday.Pakistan have made one change, Wahab Riaz has been rested for Mohammad Nawaz who is making his international debut. The UAE have included Usman Mushtaq.This is for the first time Pakistan and UAE face each other in T20 internationals. They have played three ODIs before in 1994, 1996 and 2015.Pakistan are playing their 100th T20 International, the first country to achieve the feat.�Teams:UAE: Rohan Mustafa, Muhammad Kaleem, Mohammad Shahzad, Shaiman Anwar, Mohammad Usman, Amjad Javed (captain), Swapnil Patil (wk), Saqlain Haider, Fahad Tariq, Mohammad Naveed, Ahmed RazaPakistan: Mohammad Hafeez, Sharjeel Khan, Khurram Manzoor, Shoaib Malik, Umar Akmal, Shahid Afridi (captain), Sarfraz Ahmed (wk), Mohammad Nawaz, �Mohammad Sami, Mohammad Amir, Mohammad Irfan.���
 Pakistan�s new bowling coach Azhar Mahmood believes Pakistan team�s fast bowling attack is the best in the world at present, saying the pace trio of Mohammad Amir, Mohammad Irfan and Wahab Riaz is outstanding.</strongAzhar who has replaced bowling coach Mushtaq Ahmed (who has been rested for Asia Cup and World Twenty20 due to fatigue) said that Amir, Irfan and Wahab are among the best fast bowling attacks in the world at present.�We have one of the best bowling sides in the world and Amir is a proven match-winner and then you add a seven footer Irfan who has an advantage of height, the pace battery of the side looks really exciting. Not to forget we have Wahab Riaz as well,� Azhar was quoted as saying by indiatoday.intoday.in.He said Pakistan have Amir�s variety, Irfan�s height and Riaz�s pace which makes for a threatening pace attack.The inclusion of Mohammad Sami only adds to the variety of the attack who can bowl at 145 kmph, he said.For Azhar a phone call from former teammate and current Pakistan head coach Waqar Younis was motivation enough to take up the assignment.�I got a call from Waqar a week ago when I was playing Pakistan�s domestic T20 league.�He asked me if I was interested in this role and I said yes in the blink of an eye.�I had other commitments after the World T20 so this role suited me perfectly,� he said.�These guys have been working hard for the last two years with Waqar. My job is to only pass on my knowledge and skills and give them more confidence when it comes to executing bowling plans. I am enjoying each moment of mine with the Pakistan team and hopefully I can pass on my experience to the younger lot in the line up,� he said.�I have played around the world and have enough experience under my belt to help them with little things. I would be more than happy to help them get better in their skill not just from the bowling perspective but batting and fielding as well,� Azhar added.
strong>Fledgling forward Marcus Rashford is keen to continue his "crazy" start to life in the Manchester United first team after impressing with two more goals in Sunday's 3-2 win over title-chasing Arsenal.</strongThe 18-year-old's double against the Gunners came after he notched twice on his first team debut in the 5-1 dismantling of Danish side Midtjylland in the Europa League on Thursday and the young forward was as blown away as anyone by his instant impact."It's just crazy. This is my first game in the Premier League so obviously it's been amazing, and to score two has been a bonus. So hopefully we can carry it on and go again the next game," Rashford told Sky Sports.Rashford said his late inclusion on Thursday, after Anthony Martial was injured in the warm-up, had probably helped him."It was a shock playing midweek ... But that maybe benefited me because I wasn't thinking about the game too much, so it's been good," the Manchester-born player said.The victory over Arsenal left United in fifth, three points behind Manchester City who have a game in hand on their rivals and occupy the final Champions League qualifying spot.Spanish midfielder Juan Mata heaped praise on his young team mate but also highlighted the impact of the other academy graduates, who have plugged the holes of United's injury-ravaged first team squad of late."Marcus is on fire. He scored two goals against Midtjylland and now again against Arsenal," Mata told the club's website."... but the others who came in to play in defence and midfield were also great. I think today is a day to be proud of the club and its academy - we've shown the level that we have."
 Sri Lanka set a 139-run target against India in the Asia Cup T20 match at Sher-eBangla National Stadium on Tuesday.</strongIndian pacers Jasprit Bumrah and Hardik Pandya and spinner Ashwin grabbed two wickets each to restrict Sri Lanka to 138.Kapugedera remained top-scorer for the islanders scoring 30 off 32 balls. He was helped by Siriwardana 22, Dilshan and Mathews with 18 each, Perera 17 and Kulasekara with 13 runs at the end.Earlier, India won the toss and decided to field.Teams:India: RG Sharma, S Dhawan, V Kohli, SK Raina, Yuvraj Singh, MS Dhoni (captain), HH Pandya, RA Jadeja, R Ashwin, JJ Bumrah, A NehraSri Lanka: Dinesh Chandimal (wk), Tillakaratne Dilshan, Milinda Siriwardana, Dasun Shanaka, Angelo Mathews (capt.), Chamara Kapugedera, Shehan Jayasuriya, Thisara Perera, Nuwan Kulasekara, Rangana Herath, Dushmantha Chameera��
strong>KARACHI Flamboyant Pakistani all-rounder Shahid Khan Afridi is celebrating his 36th birthday today (Tuesday). Also known as <em>Lala</em>, the charismatic cricketer was born in Khyber Agency in 1980.</strongAlignment of stars may not seem in his favour for the time being, for he has faced fierce criticism due to his dismal performance recently, but it is also a fact that Afridi has been the most lovable cricketer in Pakistan for two decades.Pakistan�s T20 skipper made his debut in 1996 and went on to grab the record for the fastest ODI century, which he held for a long time before Corey Anderson broke it.Afiridi �founded a non-profit organization (NGO) in 2014 to provide healthcare, education and sports facilities in Pakistan and around the word.He is also an ambassador of polio campaigns in Pakistan.���
 India won the toss and elected to field against Sri Lanka in their clash in Asia Cup here at Shere Bangla National Stadium, Mirpur on Tuesday.</strongShikhar Dhawan returned to the top of India's order after recovering from injury. He displaced Ajinkya Rahane from the XI.Sri Lanka lost their first T20 to Bangladesh on Sunday, however, opted to retain the team from that match.strong>Teams:</strongIndia: RG Sharma, S Dhawan, V Kohli, SK Raina, Yuvraj Singh, MS Dhoni (captain), HH Pandya, RA Jadeja, R Ashwin, JJ Bumrah, A NehraSri Lanka: Dinesh Chandimal (wk), Tillakaratne Dilshan, Milinda Siriwardana, Dasun Shanaka, Angelo Mathews (capt.), Chamara Kapugedera, Shehan Jayasuriya, Thisara Perera, Nuwan Kulasekara, Rangana Herath, Dushmantha Chameera
 Australia pace bowler James Pattinson has suffered a recurrence of shin soreness that kept him on the sidelines for much of January and been ordered to rest for the remainder of the season.The right-arm quick, who missed Australia�s domestic Twenty20 competition in January, returned to the international field in the second test against New Zealand in Christchurch where he impressed with his pace and bristling aggression.The 25-year-old took six wickets in the match at Hagley Oval, including 4-77 in New Zealand�s second innings that helped reduce the target Australia needed to chase to seal the seven-wicket victory."James had a recurrence of his left shin soreness following the second test in Christchurch and had follow-up scans in Melbourne yesterday," Cricket Australia physiotherapist David Beakley said in a statement on Tuesday."These scans have shown some inflammation around the shin consistent with bone stress."James will now require some time off to allow this injury to resolve and will not be available for the remainder of the domestic cricket season."Pattinson was not in Australia�s squad for their short limited overs tour of South Africa before the World Twenty20 in India, which begins next week.�
 A keenly-awaited clash between India and Pakistan in the 2016 T20 ICC World Cup � to be played in Dharamsala, Himachal Pradesh � might just not happen, or be moved to another city.Himachal Pradesh Congress on Sunday asked the BCCI to either cancel the proposed India-Pakistan T20 World Cup match slated for March 19 at Dharamsala, Himachal Pradesh or shift the venue to any other city.The executive of the Himachal Pradesh Congress Committee also criticised the secretary of Board of Control for Cricket in India (BCCI) and BJP MP Anurag Thakur for the decision to hold the match in Dharamsala.Leaders of the Congress party, which rules the state, are asking the Indian cricket board to cancel the match in order to "respect sentiments" of family members of those killed in the 2 January terrorist attack on the nearby Pathankot air base, allegedly by Pakistani men.At the least, the 19 March game should be played elsewhere, the politicians have told the Board of Control for Cricket in India (BCCI). The local unit of the Congress party has threatened to stage protests and halt the match."In case the Himachal Pradesh Cricket Association (HPCA) still does not call off the match, the Congress protest will only intensify and the match will not be allowed at any cost," Chief Minister Vidharba Singh was quoted as saying by an Indian newspaper.The protest is an unusual one in the context of India-Pakistan sports. It is typically Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) or the right-wing Shiv Sena that try to stop sports encounters. But this time, both the BJP and the Congress are seeking to block the match.Former BJP lawmaker Rakesh Pathania has joined the call against the match and former chief minister Shanta Kumar, of the BJP, has even written to Modi asking for the match to be shifted.�
 Serena Williams and Maria Sharapova are legends on the court and megastars off of it and on Sunday night they took a break from their Indian Wells preparations, stepping out for the star-studded 2016 Vanity Fair Oscar Party in Los Angeles.On the tennis court, white dresses are typically reserved for the lawns of Wimbledon, but the players changed things up for the world-famous after-party. Sharapova turned heads in her Preen By Thornton Bregazzi dress and Williams sported a dramatic Galia Lahav lace gown, along with a sleek new haircut.The Oscars also played out on social media, too, with everyone weighing in and showing�plenty of love for the night's biggest winners.��
 New Zealand's women defeated Australia in second of the three T20Is to clinch the series with a game to spare here at Basin Reserve on Tuesday.Captain Suzie Bates rattled up 54 in 53 balls, racing to 50 with opening partner Rachel Priest in 8.1 overs, then putting on 47 with Amy Satterthwaite for the third wicket. That put new Zealand in a strong position, which saw them claim a four-wicket win.�Having squandered a 1-0 lead to lose the ODI series 2-1, New Zealand capitalised after taking the advantage at the Basin Reserve on Sunday and pressed it home at the same venue today.Having sent Australia in, New Zealand restricted them to 116 for six in their 20 overs, then getting the win, courtesy of a leg bye with four balls remaining.Allrounder Ellyse Perry was Australia's most significant contributor with the bat, making an unbeaten 55 off just 47 balls, with a couple of sixes, while Alyssa Healy made 23.As she was on Sunday, Leigh Kasperek was a key weapon for New Zealand.She followed her four for seven in the opener with three for 26 off her four overs.Morna Neilsen made the early breakthroughs, removing both openers, including Australia's captain Meg Lanning, in her first 11 balls.The third Twenty20 International will be played at New Plymouth's Pukekura Park on Friday.�
 �On the face of it, the India v Sri Lanka game at the Asia Cup T20 2016 at Sher-e-Bangla Stadium in Mirpur on Tuesday (March 1) pits two sides, who have had contrasting recent form against each other.India has done most things right so far. In the opener against Bangladesh, the batsmen started slowly but Rohit Sharma and Hardik Pandya exploded towards the close, and the bowling pack did exactly what MS Dhoni would have hoped for to stop the opposition well short. The win over Pakistan was equally comprehensive. Apart from three overs from Mohammad Amir early on and a phase when Mohammad Irfan troubled Yuvraj Singh, it was one-way traffic.Sri Lanka, on the other hand, started well via Tillakaratne Dilshan and Dinesh Chandimal in its first game against UAE but ended up scoring only 129 for 8. And though there was never any real danger of the target being crossed, it took Lasith Malinga�s brilliance to ensure the chase stopped at 115 for 9. Against Bangladesh, with Malinga sitting out, Sri Lanka was overwhelmed.There was no word on Malinga�s availability for the match, discomfort in the knee making his comeback after three months out last only one game. A team spokesperson said that Malinga was recovering. Keeping the ICC World Twenty20 2016 in mind, Malinga probably will be fielded only if the team is confident that it won�t be harmful for him in the longer run.India might also be without Rohit Sharma, the inswinging yorker from Amir that sent him on his way on Saturday having left an impact on Rohit�s left big toe. He didn�t train on Monday, though it was announced that there was no fracture and Rohit wasn�t in any pain.The good news for India, meanwhile, was that Shikhar Dhawan was in fine fettle the day before the game, spending a fair bit of time knocking the ball around in the nets.<br/> <br/> India has been on a roll of late, while Sri Lanka hasn�t had things going its way. The last series either side played was against each other - a three-match affair in India, where India lost in the first match in Pune, but the then bounced back well to take the series 2-1.The pitches for all but one Asia Cup match have been pacer friendly, much like the track in Pune was, where Kasun Rajitha, Dasun Shanaka and Dushmantha Chameera made the big-name India batting keel over.Sri Lanka did that in Pune. But everything India did in the three games before that in Australia and then the remainder of the series against Sri Lanka and then here at the Asia Cup suggest a team at the top of its game, with most cogs of wheel spinning smoothly.If Malinga makes a great recovery and gets on to the field, Sri Lanka will wear a stronger look but still not be the favourite on paper, with India doing all the heavy hitting so far.Teams (from)India: MS Dhoni (captain &amp; wk), R Ashwin, Jasprit Bumrah, Shikhar Dhawan, Harbhajan Singh, Ravindra Jadeja, Virat Kohli, Bhuvneshwar Kumar, Pawan Negi, Ashish Nehra, Hardik Pandya, Parthiv Patel, Ajinkya Rahane, Suresh Raina, Rohit Sharma, Yuvraj Singh.Sri Lanka: Lasith Malinga (captain), Angelo Mathews, Dushmantha Chameera, Dinesh Chandimal (wk), Niroshan Dickwella, Tillakaratne Dilshan, Rangana Herath, Shehan Jayasuriya, Chamara Kapugedara, Nuwan Kulasekara, Thisara Perera, Sachithra Senanayake, Dasun Shanaka, Milinda Siriwardena, Jeffrey Vandersay. (PPI)�
 Former International Cricket Council (ICC) President Ehsan Mani has urged the Pakistan Cricket Board (PCB) to pull out of their World Twenty20 match against India at Dharamsala.The Himachal Pardesh Chief Minister Virbhadra Singh had said that Pakistan-India match should be moved to another venue and has expressed inability to provide security for Pakistan�s players at the Himachal Pradesh cricket ground in the Himalayan town of Dharamsala where the clash is due to take place on March 19.Mani�s advice has come in view of the threats from Himachal Pradesh state authorities that they would not allow Pakistan to play at the venue.I would advise the PCB to take these threats seriously. Because it involves the security of our players, officials, people and media who will go to India for the event, sportskeeda.com quoted Mani as saying.Comparing the situation with Australia�s boycott of the 2016 Under-19 World Cup in Bangladesh, Mani quipped: �If this match had involved the Australian team I am sure by now they would have pulled out of the match.�They made their position on security for their players clear when they pulled out of the ICC Youth World Cup in Bangladesh earlier this year.Mani was also of the opinion that the PCB needed to make their stand on not playing in Dharamsala crystal clear.Talking about Pakistan�s attempt to re-establish Indo-Pakistan cricket relations Mani said: �The Pakistan government has also shown it believes in having cricketing relations with India but I would think playing in Dharamsala in this environment would be risky for the Pakistan team.�Meanwhile talks about an alternate venue have started to do the rounds however no decision has been made on this yet. �
 Pakistan failed to qualify for the Asia Cup final as Bangladesh trounced them in an exciting Twenty20 International here at the Shere Bangla National Stadium, Mirpur on Wednesday night.Chasing a modest total of 130, they batted bravely to complete a deserving five-wicket victory with five balls to spare.Opener Soumya Sarmar top-scored with 48 from as many balls while Mahmudullah, who hit the winning boundary off the first ball of the final over, scored an unbeaten 22 and captain Mashrafe Mortaza remained not out on 12 .However, their experienced batsmen, Shakib Al Hasan (8), Mushfiqur Rahim (12), Tamim Iqbal (7) and Sabbir Rehman (14) could not make any significant contribution.For Pakistan, Mohammad Amer claimed two wickets for 26 while Mohammad Irfan, Shahid Afridi and Shoaib Malik took one wicket each.Earlier, Sarfraz Ahmed along with Shoaib Malik added 70 runs for the fifth wicket after Pakistan made a disastrous start, losing four wickets for just 28 runs in a match which was a do-or-die battle for them.However, they made a reasonable total of 129 for seven wickets as Sarfraz hammered an unbeaten 58 from 42 balls with two sixes and five fours while Shoaib made 41from 30 balls with a six and five fours.For Bangladesh, Al-Amin Hossain captured three wickets for 25 and Arafat Sunny claimed two for 35 while Taskin Ahmed and Mortaza took one wicket each.This was Pakistan�s lowest total in eight T20 Internationals played earlier against Bangladesh. The previous lowest was 135-7 at Dhaka in 2011.�����
 Sarfraz Ahmed along with Shoaib Malik saved Pakistan from a total collapse against Bangladesh in the eighth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Wednesday.After captain Shahid Afridi won the toss and decided to bat first, Pakistan once again made a disastrous start and lost four wickets for just 28 runs in a match which is a do-or-die battle for them.However, Sarfraz and Shoaib came to rescue and took out the team from trouble, adding 70 valuable runs for the fifth wicket stand before the latter departed at the score of 98.He made 41from 30 balls with a six and five fours and then a big slogging was expected from captain Afridi but he disappointed as he lifted the ball only to give a catch at the boundary-line.Meanwhile Sarfraz completed his glorious fifty from 40 balls and with Anwar Ali took Pakistan to a reasonable total of 129 for seven.However, it was Pakistan�s lowest total in eight T20 Internationals played earlier against Bangladesh. The previous lowest was 135.Sarfraz hammered an unbeaten 58 from 42 balls with two mighty sixes and five forceful boundaries while Anwar remained not out on 13.For Bangladesh, pacer Al-Amin Hossain captured three wickets for 25 and Arafat Sunny claimed two for 35. ��This is a do-or-die battle for Pakistan while the hosts, Bangladesh, have an opportunity to secure their berth in the final.Tamim Iqbal returned to the Bangladesh XI after completing his paternity leave in Bangkok. He replaced Nurul Hasan, while the injured Mustafizur Rahman was replaced by Arafat Sunny. Mushfiqur Rahim took over the keeping gloves for the game.Pakistan made one change, bringing in pace bowler Anwar Ali in place of left-arm spinner Mohammad Nawaz who made his T20I debut against UAE. 
 Pakistan captain Shahid Khan Afridi won the toss and elected to bat against Bangladesh in the eighth Twenty20 International of the Asia Cup here at the Shere Bangla National Stadium, Mirpur on Wednesday.This is a do-or-die battle for Pakistan while the hosts, Bangladesh, have an opportunity to secure their berth in the final.Tamim Iqbal returned to the Bangladesh XI after completing his paternity leave in Bangkok. He replaced Nurul Hasan, while the injured Mustafizur Rahman was replaced by Arafat Sunny. Mushfiqur Rahim took over the keeping gloves for the game.Pakistan made one change, bringing in pace bowler Anwar Ali in place of left-arm spinner Mohammad Nawaz who made his T20I debut against UAE.Teams:Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim (wk), Shakib Al Hasan, Mahmudullah, Mohammad Mithun, Mashrafe Mortaza (captain), Al-Amin Hossain, Arafat Sunny, Taskin AhmedPakistan: Sharjeel Khan, Mohammad Hafeez, Khurram Manzoor, Umar Akmal, Shoaib Malik, Shahid Afridi (captain), Sarfraz Ahmed (wk), Anwar Ali, Mohammad Sami, Mohammad Amir, Mohammad Irfan.�
 Banned UEFA President Michel Platini has taken his appeal against a ban from soccer by FIFA to the Court of Arbitration for Sport (CAS), the Swiss-based sports tribunal said on Wednesday.</strong"In appealing to the CAS, Michel Platini seeks to annul the decisions taken by the Adjudicatory Chamber of the FIFA Ethics Committee and by the FIFA Appeal Committee which lead to him being declared ineligible to take part in football-related activity at national and international level for six years," CAS said in a statement from its Lausanne headquarters.Frenchman Platini's ban, along with that of former FIFA President Sepp Blatter, was upheld but reduced from eight to six years by FIFA's appeals committee last week.
 Pakistan will bank a lot on their bowling attack when they face Bangladesh in a must-win game to secure a position in the Asia Cup Twenty20 finals.</strongThe match scheduled at the Sher-e-Bangla Cricket Stadium, Dhaka, will decide if Pakistan will make it to the finals. Pakistan lost against India.If Bangladesh wins today, they will play the final against India, a team which has so far remained the tournament�s unbeatable champion winning all three matches it played.Pakistan heavily rely on fast bowlers particularly pacer Mohammad Amir, who had shown what he possess against India despite defending a very low total and then UAE batsmen were also seen helpless and now Bangladesh.Bangladesh star bowler Mustafizur Rehman will not play the match today, after he suffered an injury during a match with Sri Lanka. Rehman played a vital part in the team�s victory.strong>Teams:</strongBangladesh: Mashrafe Mortaza (captain), Abu Hider, Al-Amin Hossain, Arafat Sunny, Imrul Kayes, Mahmudullah, Mohammad Mithun, Mushfiqur Rahim, Nasir Hossain, Nurul Hasan, Sabbir Rahman, Shakib Al Hasan, Soumya Sarkar, Tamim Iqbal, Taskin AhmedPakistan: Sahid Afridi (captain), Anwar Ali, Iftikhar Ahmed, Imad Wasim, Khurram Manzoor, Mohammad Amir, Mohammed Hafeez, Mohammad Irfan, Mohammad Nawaz, Mohammad Sami, Sarfaraz Ahmed, Sharjeel Khan, Shoaib Malik, Umar Akmal, Wahab Riaz.
 Virat Kohli�s half-century helped India win against Sri Lanka by five wickets in Asia Cup T20 at Sher-e-Bangla National Stadium on Tuesday night.Kohli scored 56 off 85 with the help of 7 fours. Yuraj Singh made 35 off 35, smashing 3 fours and 3 sixes. �����Suresh Raina also made a notable contribution in the victory by scoring 25 runs. India ended up scoring 142-5 with four balls to spare.Kulasekara grabbed two wickets while Perera, Herath and Shanaka shared a wicket each for Sri Lanka.Earlier, young Indian pacers Jasprit Bumrah and Hardik Pandya along with experienced spinner Ashwin grabbed two wickets each to restrict Sri Lanka to 138 for the loss of 9 wickets.Pandya and Ashwin gave away 26 runs each while Bumrah took his two wickets for just 27 runs in full 4 overs.Kapugedera remained top-scorer for the islanders scoring 30 off 32 balls. He was helped by Siriwardana 22, Dilshan and Mathews with 18 each, Perera 17 and Kulasekara with 13 runs at the end.India won the toss and chose to bowl on a pace bowling-friendly green-top pitch earlier in the evening.Angelo Mathews is captaining the Sri Lankan side as Lasith Malinga is missing the second successive game. Mathews at the toss said he would have liked to bowl first as well.Shikhar Dhawan has returned to the top of India�s order after recovering from injury. He displaced Ajinkya Rahane from the playing eleven.�
 India enjoyed an easy victory ahead of the Asia Cup final defeating the United Arab Emirates (UAE) by nine wickets in a dead rubber Asia Cup T20 match at Sher-e-Bangla National Stadium, Mirpur on Thursday.</strongThe bowlers paved the way to the easy victory, restricting UAE to 81-9 in 20 overs.India took 10.1 overs to win the match with 82-1, and seal its fourth straight victory in the tournament. The Indians meet host Bangladesh in the final on Sunday.Opener Rohit Sharma hit 39 while Yuvraj Singh was 25 not out and hit the winning boundary. Fast bowler Bhuvneshwar Kumar led the way for India with 2-8.Shaiman Anwar scored 43 after UAE captain Amjad Javed elected to bat first. Opener Rohan Mustafa, on 11, was the only other batsman to reach double digits.Kumar was backed by Jasprit Bumrah, pacer Hardik Pandya and spin trio Pawan Negi, Harbhajan Singh and Yuvraj Singh, who all picked up one wicket.Kumar delivered two straight maiden overs and reaped rewards for creating pressure which resulted in the wicket of opener Swapnil Patil for a duck.Bumrah claimed Mohammad Shahzad for a duck, too, and UAE was 2-2.India bowlers then made regular breakthrough amid the resistance of Anwar, who hit three fours and one six in his 48-ball knock.Sharma took care of the chase by his aggressive batting. He smashed seven fours and a six in 28 balls, and was the only wicket to fall, taken by Qadeer Ahmed.Out-of-form opener Shikhar Dhawan struggled again, while Yuvraj Singh, promoted to number 3 ahead of Virat Kohli, continued to batter the bowlers. He hit one six and four fours, the last of which confirmed India's victory with 59 balls to spare.Before the game, all in attendance observed a minute of silence in honor of New Zealand great Martin Crowe, who died of cancer earlier in the day. Crowe's older brother, Jeff Crowe, was the match referee.
 United Arab Emirate (UAE) won the toss and decided to bat first against against India in a match of Asia Cup T20 at Sher-e-Bangla National Stadium, Mirpur on Thursday.India�s Left-arm spinner Pawan Negi is making his international debut replacing Ravindra Jadeja. Bhuvneshwar Kumar and Harbhajan Singh also returned to the playing eleven in place of Ashish Nehra and R Ashwin.�<strong>Teams</strongIndia: Rohit Sharma, Shikhar Dhawan, Virat Kohli, Suresh Raina, Yuvraj Singh, Hardik Pandya, MS Dhoni (c), Pawan Negi, Harbhajan Singh, Jasprit Bumrah, Bhuvneshwar KumaUAE: Rohan Mustafa, Muhammad Kaleem, Mohammad Shahzad, Shaiman Anwar, Mohammad Usman, Amjad Javed (c), Qadeer Ahmed, Swapnil Patil, Mohammad Naveed, Ahmed Raza, Fahad Tariq�
 Former New Zealand cricket captain Martin Crowe has died after a long battle with cancer. He was 53.</strong"Yes it is unfortunately true, he has died," a New Zealand Cricket spokesman said on Thursday, confirming an earlier statement from Crowe's family.Widely regarded as New Zealand's finest batsman, Crowe played 77 tests from 1982-1995 and scored 5,444 runs at an average of 45.36.The elegant right-hander also scored 4,704 runs at an average of 38.55 in one-day internationals.Crowe was initially diagnosed with follicular lymphoma in 2012 but the disease went into remission.In September 2014, Crowe said a new, more aggressive form of the disease, double-hit lymphoma, had developed and he had been told only five percent survive more than 12 months.His death was keenly felt in cricketing circles with an outpouring of tributes flowing on social media."Very sad to hear of the passing of Martin Crowe this morning. An inspiration to me and so many others. One of our true greats," former New Zealand captain Stephen Fleming wrote on Twitter.Cricket Wellington, one of the three first class teams Crowe played for in New Zealand, described him as "a genius, true legend of the game", while former Indian legspinner Anil Kumble called him a cricketing icon.
 Pakistan defeated Sri Lanka by six wickets in their consolation win in the last league game of the Twent20 Asia Cup here at the Shere Bangla National Stadium, Mirpur on Friday night.Chasing a daunting target of 151, Pakistan completed their second victory of the tournament with four balls to spare.Their main scorers were Umar Akmal (48 off 37 balls), Sarfraz Ahmed (38 off 27 balls) and Shrajeel Khan (31off 24 balls) while Mohammad Hafeez made 14 and Shoaib Malik was 13 not out.Umar Akmal, who was named man-of-the-match at the end of the game, struck two sixes and four boundaries.Earlier Sri Lanka, sent into bat, made 150 for four with the help of brilliant fifties by openers Tillakaratne Dilshan and Dinesh Chandimal.They provided a fine start making together 110 runs � the highest opening stand of the tournament.Stand-in captain Chandimal remained not out on 75, his career-best score, from 56 balls with ten boundaries and a six while Dilshan, who had been out of form, batted well for the first time in the tournament, hitting 58 off 49 balls with seven fours and a six.Later, they lost four wickets for just 15 runs but Chandimal succeeded to take the score to 150 in 20 overs.Fast bowler Mohammad Irfan claimed two wickets for 16 runs while Wahab Riaz and Shoaib Malik took one wicket each. ����
 Openers Tillakaratne Dilshan and Dinesh Chandimal hit brilliant fifties before Pakistani bowlers struck four quick wickets in the tenth Twenty20 International of the Asia Cup 2016, being played between Pakistan and Sri Lanka .After sent into bat by Pakistan, Sri Lanka openers provided a fine start making together 110 runs � the highest opening stand of the tournament.Later, they lost four wickets for just 15 runs but stand-in captain Chandimal succeeded to take the score to 150 in 20 overs.He remained not out on 75, his career-best score, from 56 balls with ten boundaries and a six while Dilshan, who had been out of form, batted well for the first time in the tournament, hitting 58 off 49 balls with seven fours and a six.Fast bowler Mohammad Irfan claimed two wickets for 16 runs while Wahab Riaz and Shoaib Malik took one wicket each.Pakistan made three changes in the team bringing in debutant Iftikhar Ahmed, left-arm spinner Mohammad Nawaz and left-arm quick Wahab Riaz in place of Khurram Manzoor, Mohammad Sami and Anwar Ali.Sri Lanka are being led by Chandimal, their third captain in the tournament, after Angelo Mathews' calf strain forced him to sit out. Mathews was replaced by wicketkeeper-batsman Niroshan Dickwella.���
 Pakistan captain Shahid Khan Afridi won the toss and opted for fielding first in the dead rubber against Sri Lanka in their last Twent20 International of the Asia Cup 2016 here at the Shere Bangla National Stadium, Mirpur on Friday.Pakistan have made three changes in the team, bringing in debutant Iftikhar Ahmed, left-arm spinner Mohammad Nawaz and left-arm quick Wahab Riaz in place of Khurram Manzoor, Mohammad Sami and Anwar Ali.Sri Lanka are being led by Dinesh Chandimal, their third captain in the tournament, after Angelo Mathews' calf strain forced him to sit out. Mathews was replaced by wicketkeeper-batsman Niroshan Dickwella.Teams:Pakistan: Mohammad Hafeez, Sharjeel Khan, Sarfraz Ahmed, Umar Akmal, Shoaib Malik, Shahid Afridi (captain), Iftikhar Ahmed, Wahab Riaz, Mohammad Nawaz, Mohammad Amir, Mohammad IrfanSri Lanka: Dinesh Chandimal, Tillakaratne Dilshan, Shehan Jayasuriya, Chamara Kapugedara, Niroshan Dickwella, Milinda Siriwardana, Dasun Shanaka, Thisara Perera, Nuwan Kulasekara, Rangana Herath, Dushmantha Chameera.
 Federal interior minister Chaudhry Nisar Ali Khan in an important meeting with prime minister Mohammad Nawaz Sharif today briefed him regarding security issue on the Pakistan cricket team�s tour of India.The national cricket team has to tour India for participating in the forthcoming Twenty20 World Cup 2016.The prime minister said that the decision to send the cricket team to India would be made only after receiving the security team�s report.During the meeting, Nawaz Sharif also issued directives to keep in touch with the Pakistan High Commission in India for fool-proof security arrangements for the team.The prime minister has asked the Pakistan Cricket Board to submit a report on the poor performance of the national team.�
 Pakistan Cricket Board (PCB) has formed a five-member fact-finding committee to probe the causes of Pakistan cricket team�s worst performance in the Asia Cup Twenty20 tournament .The committee, comprised of Misbah-ul-Haq, Younis Khan, Subhan Ahmed, Iqbal Qasim and Shakeel Shaikh, will look into the matters of the national team�s defeat against India and Bangladesh in Asia Cup matches played in Dhaka.The committee will submit its report to chairman PCB Shaharyar Khan after the completion of the investigations.The Green-Shirts are facing severe criticism for their pathetic performance in the Asia Cup 2016.�
 Pakistan Cricket Board (PCB) Chairman Shaharyar Khan has slammed the team�s performance at the Asia Cup but admitted it was too late to make sweeping changes ahead of the World Twenty20 this month.</strongThe 2009 World Twenty20 champions lost to arch-rivals India and hosts Bangladesh, and only managed to beat United Arab Emirates, raising serious doubts about their potential to challenge for the title in the March 8-April 3 tournament.Shaharyar said everyone from the coach to those involved in the selection process would be held accountable but added there would not be no knee-jerk reaction."It wasn�t just a matter of disappointment but it was a painful experience to watch Pakistan play like that," Shaharyar told reporters in Lahore."The performance was very poor, other then a few individuals� performances, but I can assure that accountability is inevitable and whoever is responsible has to answer."Changes are important in the electoral process and leadership but we have to sit and think wisely."The PCB chairman, who has emphasized the importance of conditioning in the shortest format of the game, said at least three to four players in Shahid Afridi�s team appeared unfit.While the pace attack was impressive in the tournament, Pakistan�s batting let them down.They were bundled out for 83 against India and managed 129-7 against Bangladesh which saw them miss out on a place in Sunday�s final."We will bring changes in selectorial process, coaching process and leadership process," Shaharyar said, adding that he had already sought advice from senior test batsmen Younus Khan and Misbah-ul-Haq.Pakistan added fast bowler Mohammad Sami and batsman Sharjeel Khan to their original squad for the World T20 following injuries to Babar Azam and Rumman Raees but the PCB chairman did not rule out further changes.Afridi has also come under intense scrutiny due to his failures with the bat but Shaharyar said the 36-year-old all-rounder would captain the side in India."I understand there is a lot of criticism but I am not going to change anything one week before the major tournament in India," Shaharyar said."Afridi will remain captain unless he himself pulls out of the job. He has been serving Pakistan from the last 15 years."Some changes you will see will be done before we play our first matches in World T20 and other important changes will be done after the tournament."
 Senior official of the Board of Cricket Control in India (BCCI) Rajiv Shukla has assured that Pakistan cricket team would be provided foolproof security in the Pak-India clash in World Twenty20 in Dharamshala.</strongSpeaking to local media on Friday, Rajiv Shukla said, �Match between Pakistan and India will be played as per schedule on March 19 in Dharamshala.�He added that Pakistan cricket team would be provided foolproof security and in this regard, they have talked to Chief Minister Himachal Pradesh Chief Minister Virbhadra Singh.The Pakistan Cricket Board (PCB) has threatened pulling out of the World Twenty20 if they did not get a clear message about the security situation from the Indian government.Shaharyar Khan, the PCB chairman, called for India to publicly acknowledge Pakistan�s participation in the tournament and to also promise full security to their cricket team.Earlier, Himachal Pradesh Chief Minister had asked the BCCI to either cancel the proposed India-Pakistan T20 World Cup match slated for March 19 at Dharamsala, Himachal Pradesh or shift the venue to any other city."In case the Himachal Pradesh Cricket Association (HPCA) still does not call off the match, the Congress protest will only intensify and the match will not be allowed at any cost," Chief Minister Vidharba Singh was quoted as saying by an Indian newspaper.
 Barcelona set a Spanish record of 35 matches unbeaten in all competitions with a thumping 5-1 win at nine-man Rayo Vallecano in La Liga on Thursday after goal-machine Lionel Messi scored his 35th hat-trick.</strongIvan Rakitic opened the scoring, Messi caught up with Real Madrid�s Cristiano Ronaldo on 35 trebles in all competitions and Arda Turan completed the rout, with Turkey's captain scoring his first goal for the club since joining from Atletico Madrid.Barca's victory, which saw them beat the undefeated record Real Madrid had held since the 1988/89 season, restored an eight-point lead at the top over Atletico with 11 matches to go.Atletico beat visiting Real Sociedad 3-0 on Tuesday, while third-placed Real Madrid are again 12 points off the pace after a 3-1 win at Levante on Wednesday.Barca were helped by the fact that Rayo lost defender Diego Llorente to a red card three minutes before halftime for a foul on Rakitic before Manuel Iturra was also sent off in the 67th for bringing down Sergio Busquets in the area.Busquets was felled from behind going for the rebound after a Messi free kick came back off the bar but Luis Suarez's penalty was saved by Juan Carlos, Barcelona's ninth miss from 18 penalties in all competitions this season."It's a strange situation (missing penalties)," the Catalan side's midfield general Andres Iniesta said. "We mustn't let it bother us while everything is working as well as it is."The reasons are many (to explain) why the team continues in this positive dynamic (but) the league isn't over, there are lots of points still to take," he was quoted as saying on the As website.Rakitic scored in the 22nd minute by tapping the ball home when it fell to him after Juan Carlos spilt a high cross.Messi finished off a fine one-two with Neymar a minute later for his first goal and Llorente was shown the red card three minutes before halftime for a foul on Rakitic.Messi scored his second in the 53rd after a shot by Suarez came back off the post and completed his hat-trick in the 72nd after darting through the defence from midfield.Rayo got a consolation in the 57th through Manucho's header after Bebe, at the far post, nodded a cross from the right into the middle as the two ex-Manchester United players combined.
strong>Virender Sehwag says former Pakistani cricketers want to make money and for that reason they are praising Indian players.</strongDuring his talk with comedian Vikram Sathye, the former opening batsman targeted Rawalpindi Express Shoaib Akhtar and former fast bowler Rana Navidul Hassan.When asked why Shoaib Akhtar has been praising local players, Sehwag said Pakistani players know �India is a huge market for cricket. �If they talk good about Indian cricket, they will get business,� He said.He said Rana Navidul Hassan was talking a lot of good things about Indian cricket, hoping tv channels would offer him a job.�
 Hindu hardline group Anti-Terrorist Front of India has threatened that to dig the pitch in HPCA stadium if Pakistan team comes to play against Indian team in Dharamshala, Indian media reported.</strongVirender Shandilya, national president of Anti-Terrorist Front of India, said the Pakistan cricket team should not be allowed to play in the World Twenty20 match against India on March 19.He threatened, "If the Pakistan team comes to play against India in Dharamshala, we will dig the pitch in HPCA stadium in protest."Shandilya claimed that he had written letters to Prime Minister Narendra Modi and Home Minister Rajnath Singh in this regard and will also meet state chief minister Virbhadra Singh and leader of opposition PK Dhumal."We will protest against this match in Dharamshala in a big way in the coming days," said Shandilya.
 Former Pakistan skipper Waseem Akram has stated that green shirts should opt to stay out of the World Twenty20, scheduled from March 08, if there is a security risk in India.</strongWaseem Akram was talking to media here on Saturday.Himachal Pradesh Chief Minister had asked the BCCI to either cancel the proposed India-Pakistan T20 World Cup match slated for March 19 at Dharamsala, Himachal Pradesh or shift the venue to any other city.Commenting on poor performance of Pakistan in the Asia Cup, the former pacer said that the team lost because there was no planning during the matches.Waseem agreed to Waqar Younis� claim that the head coach should be included in the selection team.He said that the World Cup was just around the corner and the team was being criticized for its performance on television every day. �Cricket pundits and senior players should instead be boosting the team�s moral.�He said that the selectors were thinking of reshuffling the team but now it was too late.In the current circumstances Shahid Afridi was the best choice for T20 team captain, he said.He added that the umpiring in the Asia Cup held at Dhaka lacked clarity. �I saw the worst umpiring of my life in the Asia Cup.�
 FIFA must make the 2026 World Cup bidding process "absolutely bullet-proof" because the entire organisation's credibility is at stake, new president Gianni Infantino said on Friday.</strongInfantino, elected FIFA boss last week, hopes to start 2026 bidding within three months after it was delayed by the wide-reaching corruption scandal that rocked the governing body last year."We have to get the 2026 bidding process absolutely right," Infantino told the BBC."It's certainly the commitment that I want to give; that I will do everything I can to make sure that this happens because I think that the credibility of FIFA is, as well, at stake here."We need to make sure that we do everything we possibly can, not only to prevent strange things to happen around bidding processes but also to prevent the perception that strange things could happen."We need to make sure that bidding process that we put in place is absolutely bullet-proof."Every World Cup bidding process since 1998 has been the subject of allegations of corruption and bribery.The awarding of the 2018 and 2022 finals, to Russia and Qatar respectively, is being probed by Swiss authorities.On Friday, a report into the bid for the 2006 World Cup awarded to Germany found no evidence of vote-rigging but was unable to explain a $10 million payment by the country's bid chief Franz Beckenbauer to a company owned by Mohammed Bin Hammam.Qatari Bin Hammam, a former president of the Asian Football Confederation, was banned from all soccer-related activity for life in December 2012 for integrity issues.Infantino reiterated his position that the 2018 and 2022 World Cups needed to go ahead, regardless of investigations."I am a pragmatic person," he said. "FIFA needs to deliver two World Cups, one in two years and one in six years, for decisions which have been taken six years ago."There has been a lot of speculation and a lot of allegations but not one single fact, in six years."At some stage we have to say 'let's focus on working'. I want to work and help Russia and Qatar host the best World Cups ever, as we always say."
 Following dismal performance in the ongoing Asia Cup T20 2016, Pakistan cricket team on Thursday dropped to eighth position from sixth place in the latest International Cricket Council (ICC) Twenty20 rankings.Pakistan now are listed just above Afghanistan while India have maintained top position followed by South Africa and West Indies on second and third positions, respectively.New Zealand are on number four, followed by England who managed to grab the 5th slot in the rankings.Bangladesh who defeated Pakistan on Wednesday are at number ten.�
 India defeated Bangladesh by eight wickets in the rain-affected final of the T20 Asia Cup here at the Shere Bangla National Stadium Mirpur on Sunday night.Chasing a rather daunting target of 121, India won the match with ease in 13.5 overs to become the champions of the Asia Cup, played for the first time on T20 format.After losing Rohit Sharma for one, in the second over, when they were only five, Shikhar Dhawan and Virat Kohli took India out of trouble and added 94 runs from 67 balls before Dhawan departed.He made 60 off 44 balls with nine fours and a six.Then it became easier for Kohli and captain Mahinder Singh Dhoni to score the required 22 runs from only seven balls to reach the target.Kohli scored an unbeaten 41 off 28 balls with five boundaries while Dhoni remained not out on 20, made off just six balls with two towering sixes and one four. �Earlier, Bangladesh made 120 for five in the rain-reduced 15 overs a side match when they were sent into bat by India.Sabbir Rehman and Mahmudullah gave an unbeaten sixth wicket stand of 45 runs off just 20 balls after they lost five wickets for 75 in 11.4 overs.Mahmudullah smashed 33 off 13 balls with two sixes and as many fours while Sabbir scored 32 off 29 balls with two boundaries.The five batsmen dismissed earlier were Tamim Iqbal (13), Soumya Sarkar (14), Shakib Al Hasan (21), Mushfiqur Rahim (4) and Mashrafe Mortaza (naught).At the end of the match, Shikhar Dhawan of India was declared man-of- the- match while Sabbir Rehman was named player-of-the-tournament.
 Bangladesh made 120 for five in the rain-reduced 15 overs a side final match of the Asia Cup Twenty20 International tournament here at the Shere Bangla national Stadium Mirpur on Sunday night.Sent into bat by India captain Mahindra Singh Dhoni after match delayed due to rain, Bangladesh batsmen batted with courage and aggression to set a daunting target of 121 runs.Sabbir Rehman and Mahmudullah gave an unbeaten sixth wicket stand of 45 runs off just 20 balls after they lost five wickets for 75 11.4 overs.Mahmudullah smashed 33 off 13 balls with two sixes and as many fours while Sabbir scored 32 off 29 balls with two boundaries.The five batsmen dismissed earlier were Tamim Iqbal (13), Soumya Sarkar (14), Shakib Al Hasan (21), Mushfiqur Rahim (4) and Mashrafe Mortaza (naught).Harbhajan Singh, Pawan Negi and Bhuvneshwar Kumar made way for R Ashwin, Ashish Nehra and Ravindra Jadeja in the India XI while Bangladesh brought in left-arm seamer Abu Hider and allrounder Nasir Hossain for their first games of the tournament. They replaced Arafat Sunny and Mohammad Mithun.�
 India's captain Mahindra Singh Dhoni opted to bowl in the rain-reduced 15-overs a side Asia Cup final in Mirpur. Play was rescheduled to 9:30pm local time, exactly two hours after the scheduled start.Harbhajan Singh, Pawan Negi and Bhuvneshwar Kumar made way for R Ashwin, Ashish Nehra and Ravindra Jadeja in the India XI while Bangladesh brought in left-arm seamer Abu Hider and allrounder Nasir Hossain for their first games of the tournament. They replaced Arafat Sunny and Mohammad Mithun.The pitch was hard with no grass, and is expected to be good for batting, as it had been in the last few matches of the tournament. While the Shere Bangla National Stadium's drainage system did a fine job to take out all the puddles, it was the ground staff who mopped up the outfield quickly.Clouds had started to gather from around 5:30pm before it grew into a storm, locally known as the Kal Boishakhi which is quite usual during spring time in Bangladesh. Rain only relented by 7:40pm. During this period, there were several blackouts, but the 10,000-odd crowd braved the storm before the toss took place at 9:10pm.Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim (wk), Shakib Al Hasan, Mahmudullah, Nasir Hossain, Mashrafe Mortaza (captain), Al-Amin Hossain, Abu Hider, Taskin AhmedIndia: Shikhar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, MS Dhoni (capt and wk), Hardik Pandya, Ravindra Jadeja, R Ashwin, Ashish Nehra, Jasprit Bumrah��
 The rain stopped at the Shere Bangla National Stadium in Mirpur and the toss is likely to take place in a while later in the final match of the Asia Cup T20I between Bangladesh and India on Sunday night.Both the teams are getting warm-up for the biggest event of the tournament.The match was delayed due to heavy rain with storm here in Mirpur as treams of water were flowing off the covers the frame around the big screen at the venue was partially blown away by the wind.However, ground staff worked hard to clear the water from the ground and now the covers have been removed from the pitch and the stumps have been put in.This is Bangladesh's first appearance in any T20I tournament that involves three or more teams.Meanwhile, India are playing their third final in such events.�����
 A heavy rain with storm here at the Shere Bangla National Stadium in Mirpur has delayed the toss between Bangladesh and India in the final of the Asia Cup T20 tournament.Streams of water are flowing off the covers protecting the square on to the grass. There is also damage to the big screen at the venue - the frame around the screen itself has been partially blown away by the wind. However, ground staff is making their way out. Work seems to be going on to get the floodlights working again.The match therefore is going to have a delayed start as there is a tremendous amount of water on the outfield. There's going to be quite a delay.As there is no reserve day for the final, the trophy will be shared if the match is not played.�
 International Cricket Council (ICC)�s Anti�Corruption Unit chief Ronnie Flanagan on Sunday said Pakistan pacer Mohammad Amir after being freed from prison for involvement in spot�fixing, made a video admitting his mistake and the effect it had on him, to educate the young cricketers to not get into such trap.Amir was banned from all cricket�related activity for five years after being found guilty of spot�fixing during a Test match against England in 2010.At the time of his ban the left-arm pacer was just 18�year�old and was touted as one of the world s most promising bowlers having already appeared in 14 Tests and taken 51 wickets.The 23-year-old pacer has now made a successful comeback to international cricket and is currently in prime form.Amir at the very early stage did make a video for us where he admitted his fault and described the effect that it had on him. ICC has used the video in the past for the education with players Flanagan said.Someone who is genuine and honestly admitting his mistake � it is important to use their experience for others to avoid such things in future , Flanagan told a press conference here before the start of the sixth edition of ICC World Twenty20 from March 8 in India.It can be a big and dramatic message for the young international players to hear those words from none other than the person who has gone through these things and come out and admitted his mistake. We used Amir s video after he was out from prison. He came up and volunteered his assistance. I think it is a useful tool, he added.The 27-day World T20 tournament begins in Nagpur on March 8 and will be played at eight venues across India with Eden Gardens in Kolkata, scheduled to host the final on April 3.��
 A team of Pakistani security experts on Sunday obtained visas and is all set to visit India on Monday to examine security arrangements ahead of Pakistan cricket team departure.</strongGovernment has linked cricket team participation in World T20 tournament with security clearance after Hindu extremists threatened to dig up pitch of Dharmasala stadium, where Pakistan would clash arch rival India on March 19.A three member-team headed by Usman Anwar, a director of the Federal Investigation Agency (FIA), was set up after a meeting between Prime Minister Nawaz Sharif and Interior Minister Chaudhry Nisar Ali Khan.Virender Shandilya, national president of Anti-Terrorist Front of India, on Saturday said the Pakistan cricket team should not be allowed to play in the World Twenty20 match against India on March 19.He threatened, "If the Pakistan team comes to play against India in Dharamshala, we will dig the pitch in HPCA stadium in protest."��
 Pakistan T20 captain Shahid Khan Afridi, who is facing severe criticism for his dismal performance in Asia Cup, has called for Prime Minister Nawaz Sharif intervention to promote talent in the country.</strongAfridi, who refused to talk to media upon his return from Bangladesh on Saturday, chose social networking website twitter to express his views on Sunday.He requested the prime minister to look into the barriers which are preventing talent from the grass root level to rise and prove their mark.He said: �I would want 2 request the PM to look into the barriers which r preventing talent from the grass root level to rise and prove their mark� dir="ltr" lang="en">I would want 2 request the PM to look into the barriers which r preventing talent from the grass root level to rise and prove their mark 2/2The flamboyant all-rounder also welcomed the committee set up by the prime minister to look into Pakistan�s poor performance in Asia Cup. dir="ltr" lang="en">I really appreciate our PM's support and help to evaluate &amp; uplift the performance of the team by bringing this committee into existence.1/2�I really appreciate our PM's support and help to evaluate &amp; uplift the performance of the team by bringing this committee into existence,� he said.��
 International tennis activities returned to the country after a lapse of 11 years on Monday with the commencement of qualifying rounds of Asian Tennis Federation (ATF) and Under-14 Tennis Championships here at Syed Dilawar Abbas PTF Tennis Complex.A total of 14 players including three foreign players are featuring in boys events while six Pakistani girls are appearing in girls events of these championships, �Muhammad Khalid Rehmani, secretary PTF told APP.The ATF has allotted two back�to�back International and under-14 Asian ranking tennis Championships to Pakistan, being played at the clay courts of Pakistan Tennis Federation (PTF).Though only three foreign players, Malaysia�s Wee Yi Shen, Sri Lanka�s Yanishkhe Cooray and British player of Pakistan�origin Said Muhammad arrived in the Capital to feature in these championships and no female player arrived.Rehmani believed that the successful holding of these two championships would open doors for other international tennis in all age categories.�Because of ITF embargo to hold international events in Pakistan, we have been holding various international events including Davis Cup and ITF Juniors 18 events abroad."In such circumstance I think these two championships are a significant milestone for the PTF at least�, he said.�Successful holding of these championships will send out a strong message to the world and the international body that Pakistan is fully capable of hosting professional events, he maintained.The first leg is being organized by the PTF while the second leg will be organized by Islamabad Tennis Association.ITF white badge umpires Arif �Qureshi and Shehzad Akhter Alvi are the referees of first and second legs respectively.Pakistan�s Huzaifa Abdul Rehman and Hamza�bin�Rehan are first and second seeds respectively while among girls, Zoha Asim and Rida Khan are first and second seeds, respectively as Hong Kong�s Angela Wingshan Sou, who was top seed and scheduled to arrive on Monday, did not reach till filing of this report.Another female player from Sri Lanka, Senviratne Anika, who was to feature in the main round also did not arrive.�
 Cricket�s world governing body (ICC) said on Monday that its anti-corruption unit was probing the Hong Kong team but ruled out any match-fixing angle to its investigation.A day after ICC anti-corruption unit head Ronnie Flanagan revealed the case in Mumbai, the ruling body�s chief executive Dave Richardson provided more details."In recent times you would have read in the media that a particular player was suspended from his country and the investigations relate to the same team," Richardson told reporters.The governing body announced in January that Hong Kong all-rounder Irfan Ahmed had been suspended and charged with failing to disclose an approach from an individual."We should not speculate that it involves or there�s any match-fixing or anything going on with particular players or particular teams," Richardson said.<br/> "Often we get our intelligence from players reporting various approaches that corrupt people make to them."Hong Kong play the first match of the World Twenty20 on Tuesday against Zimbabwe in first-round Group B which also includes Afghanistan and Scotland.The pool winners will go into Super 10 Group 1 with England, South Africa, Sri Lanka and West Indies.The ICC has done stellar work to shield players from full member nations against such approaches but "corrupt" individuals were finding new targets, Richardson said."We are now finding that the corruptors are now focused on associate members, women�s teams etc etc. So we got to make sure the players from all the teams are very well educated, understand their responsibilities and would not get involved.""Unfortunately, this is the world we are living. There are corrupt people all over the world, trying their best to get hold of players.�
 Experienced batsman Ahmed Shehzad was drafted into the World T20�bound Pakistan squad on Monday in a bid to improve the opening combination of the side after dismal display in the Asia Cup in Bangladesh.The Chairman of Pakistan Cricket Board (PCB) Shaharyar M. Khan approved the 15-member squad for the World Twenty20 starting in India on Tuesday at the recommendation of National Selection Committee, headed by Haroon Rashid, according to a PCB statement.PCB Chief Selector Haroon Rashid said while picking the squad the team management and skipper were consulted by the selectors and all concerned gave their consent in this regard.TheT20 team has been selected keeping in mind the conditions during the World T20 in India.The team is a blend of experience and youth and we believe that team will do well in the mega event, he said.The team includes Shahid Afridi (Captain), Shoaib Malik, Sarfraz Ahmed (vice captain &amp; wicket-keeper), Mohammad Hafeez, Umer Akmal, Ahmed Shehzad, Sharjeel Khan, Mohammad Nawaz, Immad Wasim, Anwar Ali, Mohammad Irfan, Mohammad Amir, Wahab Riaz, Mohammad Sami and Khalid Latif.The team management includes Intikhab Alam (team manager), Waqar Younis (head coach), Azhar Mahmood (bowling coach), Grant William Flower (batting coach), Grant Trafford Luden (fielding coach-cum-trainer), Dr. Sohail Saleem (physiotherapist), Shahid Aslam (assistant team manager), Col. (r) Azam Khan (security manager), Agha Akbar (media manager), Talah Ejaz (analyst) and Malang Ali (masseur).��
 The giant search engine Google has dedicated its doodle to mark the start of the ICC T20 Cricket World Cup 2016.</strongThe extravaganza will kick start from Tuesday and end on April 3. The event will be held across seven venues in India with 16 teams taking part in it.The doodle shows an amazing bird�s eye view of a jam packed cricket stadium while the two teams are playing the match and audience are cheering them.The crowd can be seen supporting both the teams.A huge Google banner can also be witnessed in the background.A click on the doodle directs the users to a new page consisting of the entire schedule of the upcoming matches.In the first match Zimbabwe will take on Hong Kong in Nagpur while in the second match Scotland will face Afghanistan at the same venue.The epic encounter of the event will be held between traditional rivals India and Pakistan on March 19 at Dharamshala.
 Twenty20 skipper Shahid Khan Afridi has been stopped from speaking to the media, a day after Pakistan Cricket Board (PCB) expressed annoyance over his latest tweets seeking Prime Minister Nawaz Sharif's direct help in cricketing affairs.</strongIn a brief conversation upon his arrival following a dismal team performance in the Asia Cup, Afridi had said that he would be staying in Karachi for a couple of days and would speak to the media later in a press conference.But sources privy to the developments at the cricket board said that the PCB has stopped the T20 captain from holding any presser.The news comes a day after the board expressed annoyance over his most recent tweets, in which he had asked the prime minister to intervene and look into �barriers preventing talent from the grass root level to rise�.
 The International Cricket Council's anti-corruption unit has prevented a potential spot-fixing scandal and is investigating an international team for alleged attempts to manipulate future matches, the chief of the unit has said.</strongWhile revealing news of the probe, ICC anti-corruption unit head Ronnie Flanagan would not disclose details of the case as members of the international side are still being investigated."It will be very difficult for me to talk about specific details about an ongoing case, but quite recently we have a reason to believe that members of a particular team have intentions to manipulate events in forthcoming matches," Flanagan told reporters in Mumbai ahead of the World Twenty20."This was an international team but I am not going to go into any details because it is still under our investigation."Certain individuals, we believed, had intention to manipulate events to facilitate betting on those events."
 A team of Pakistani security experts arrived in India on Monday to examine security arrangements ahead of Pakistan cricket team departure for World Cup Twenty20 starting March 08.</strongPakistan government has linked cricket team participation in World T20 tournament with security clearance after Hindu extremists threatened to dig up pitch of Dharmasala stadium, where Pakistan would clash arch rival India on March 19.A three member-team headed by Usman Anwar, a director of the Federal Investigation Agency (FIA), was set up after a meeting between Prime Minister Nawaz Sharif and Interior Minister Chaudhry Nisar Ali Khan.Two members of the security delegation � FIA senior Director Usman Anwar and Pakistan Cricket Board (PCB) chief security Officer Col (R) Azam � reached the Wagah border crossing Monday morning from where they crossed over into India.The third member of the security team � Ubaid Nizamani, an official from the Pakistan High Commission � is already present in India.
 Former tennis world number one Maria Sharapova will be holding a news conference in Los Angeles on Monday to make "a major announcement", though no other details were given by her manager on Sunday.</strongSharapova's management company, IMG, declined to tell Reuters via email what topic had prompted the news conference but added: "It will be very big news."Monday's announcement will come just four days after Sharapova said she was withdrawing from this month's BNP Paribas Open at Indian Wells in California due to a persistent arm injury.The five-times grand slam champion has been troubled by her left forearm since the start of the year when she pulled out of an Australian Open warm-up tournament in Brisbane.Sharapova lost to Serena Williams in the quarter-finals of the Australian Open in January and has not competed since then.The 28-year-old Russian has suffered from assorted injuries over the past decade, and required shoulder surgery in 2008 that led to her being sidelined for nine months.Sharapova also missed the second half of the 2013 season because of a shoulder injury.Currently ranked seventh, Sharapova claimed her most recent grand slam crown at the 2014 French Open and has won 35 career titles on the WTA Tour.She has numerous business interests off the court, including a very successful apparel collection.
 Imran Khan, Pakistani cricket legend and the chairman of Pakistan Tehreek-e-Insaf �has advised the Pakistani cricket team against playing in the forthcoming ICC World T20 because of hateful comments by the Himachal Pradesh chief minister.Imran Khan believed that the representatives of the Indian government are promoting tension and hate between the neighbouring countries.�The statement by the Himachal Pradesh Chief Minister is an irresponsible one and is totally against the standards of hospitality and hosting,� Khan said.Pakistan are scheduled to play arch�rivals India at the Himachal Pradesh Cricket Association ground in Dharamsala in their second World T20 fixture on March 19.The government of the northern state of Himachal Pradesh refused to provide security for the upcoming World T20 tie citing a January attack on an Indian army base.Chief Minister Virbhadra Singh said last Sunday that the match should be moved to another venue out of respect for the martyrs killed in the assault by Pakistani militants on an Indian air force base in neighbouring Punjab.We are not willing to provide security for the match, a senior state government official told on condition of anonymity.�It s just one match that we are bothered about because it involves Pakistan and our decision reflects the sentiments of the people of Himachal�.Indian cricket board secretary Anurag Thakur accused the state of playing politics and said the country regularly provided security for Pakistani sportsmen and women.The venues of the World Cup matches were decided one year ago and the allotment of matches was decided six months ago, said Thakur.By claiming that you cannot provide security, you are only giving credence to Pakistani claims that there is a security threat to their team in India. It� s about the country� s image. 
strong>Five-times grand slam champion Maria Sharapova�s failed drug test at this year�s Australian Open provoked a flurry of reaction on social media and beyond.</strongWhile most expressed shock and some sympathy for the Russian former world number one, others were less charitable, including three-times grand slam champion Jennifer Capriati.strong>FORMER WORLD NO.1 �JENNIFER CAPRIATI ON TWITTER</strong>"I�m extremely angry and disappointed. I had to lose my career and never opted to cheat no matter what. I had to throw in the towel and suffer."I didn�t have the high priced team of drs that found a way for me to cheat and get around the system and wait for science to catch up.The responses are exactly what i am talking about. Everything based on illusion and lie driven by the media for over 20 yrs. Beyond unfair.strong>"TENNIS GREAT MARTINA NAVRATILOVA ON TWITTER</strong>"Hold your horses everyone - about Maria - I don�t have all the facts, I hope it�s an honest mistake, stuff was legal as far as I know till 2015.strong>"FORMER PLAYER JAMES BLAKE ON TWITTER</strong> "Wow. Classy of @MariaSharapova to hold a press conference for this and admit making a mistake. Definitely agree that have to be aware though".strong>CURRENT AMERICAN PLAYER RYAN HARRISON on TWITTER </strong>"Maria handled that so well". In my opinion, honest mistake from a great champion".strong>FORMER TOP 10 PLAYER AND COACH BRAD GILBERT</strong> "Still stunned that nobody on Shazza team checked new list from WADA, players are responsible but this is big time oversight on team as well.strong>"AUSTRALIAN PLAYER MATT EBDEN</strong> "Doesn�t look that innocent for Sharapova or whoever else took it, this Meldonium stuff but who knows?"strong>BRITISH OLYMPIC HEPTATHLON BRONZE MEDALLIST KELLY SOTHERTON</strong> "I�m pretty sure if this was a track and field athlete they�d be getting a much rawer deal than Sharapova. However it is what it is.#Sharapova".strong>SEVEN-TIME GRAND SLAM SINGLES CHAMPION JUSTINE HENIN</strong> "Some questions still have to be asked and it�s very difficult at the moment to give an opinion. What I can say is it�s not good for the game. "Rules are important, rules have to be respected so that�s the thing we can say today. But I am still a little bit sad about all of this".strong>RUSSIAN FORMER WORLD NO. 1 MARAT SAFIN</strong> "The situation is pretty difficult but I think there is a lot we still have to understand. It can be a mistake. But it depends how they (investigators) take it and how they feel about the situation".�
 Afghanistan stretched their T20I record against Scotland to 6-0 with a 14-run win facilitated by their explosive opener Mohammad Shahzad and a spin-heavy attack to defend 170.Scotland were well on course in the chase after their openers packed a powerful stand of 84 runs in under nine overs, but the Afghanistan spinners dismissed the openers and then strangled the middle order to throw the chase off track.Scotland needed 77 runs from the half-way mark with eight wickets in hand but the Afghanistan spinners lived up to their captain's decision of batting first to allow the slower bowlers to do their work later on.On what looked like a slower pitch after the opening match in Nagpur, the two teams were set for much stronger totals after the platforms laid by their top orders. But both innings were jolted in the middle overs and Afghanistan eventually prevailed to start their World T20 campaign with a win, to bury memories of their Asia Cup opening-match loss against UAE last month.Shahzad started in his usual aggressive fashion and overcame some improvised bowling from the Scotland pacers in the Powerplay to cut loose later on.Shahzad and Noor Ali Zadran provided a flying start by putting on 25 in under three overs before Noor Ali steered a short ball straight to third man.Shahzad followed that by targeting the leg-side and straight boundaries to race towards a 32-ball fifty, his ninth in T20Is.�
 The Pakistan security team will submit its report Wednesday on security situation in Dharamsala upon its return from India regarding Pak team�s participation in the World T20 Cup.The team which is returning home tomorrow will submit its report on the same day and a decision is likely to be taken on the same evening that Pakistan team will travel to India or not, said a spokesman of Pakistan Cricket Board while talking to APP on Tuesday.The three-member team, comprising Director FIA Lahore Usman Anwar, Col retd Azam and Ubaid Nizamani, is currently in Dharamsala to assess the security arrangements for the Pakistan men and women�s team in the upcoming World T20 Cup.The security team was constituted by the Pakistan Government after Himachal Pradesh Chief Minister Virbhadra Sindh expressed his state government difficulty to provide security to the Pakistan team which is scheduled to play India on March 19 at Dharamsaala .The government had initially granted the PCB permission to play in India but the board decided to put the visit on hold until they are guaranteed foolproof security of Pak team in India said the spokesman.He said the safety and security of the Pak team is very important for the PCB and no compromise can be made on it as PCB wants to ensure that the situation is conducive for its teams participation specially when it is playing in India.He said the security team soon after its return will submit its report to the concerned quarters and a decision will be taken in light of the recommendations to be made by the security team.World Cup is an important event for PCB but at the same time we want to make sure that if our team plays in India it has no added pressure in terms of security he said.He said that it is the responsibility of the Indian government to ensure security of the Pakistan team as the World T20 is an international tournament.He said decision regarding teams participation in the Cup will be made by the Government and will be communicated to the PCB .When asked about a possible delay in the departure of the Pak team to India the spokesman said it is too early to say on it as we have to wait the decision of the Government as the top most priority is to ensure that Pak team is safe in India.PCB chairman Shaharyar Khan had stated said that the threats against the Pakistan team are specific and threatened to pull out of the tournament unless the PCB gets a clear message about the security situation from the Indian government.He also urged India to publicly acknowledge Pakistan�s participation in the tournament and to also promise full security to their cricket team.�
 A ninth T20 international century from Mohammad Shahzad has guided Afghanistan to a competitive 5-170 in their ICC World T20 clash against Scotland.Shahzad gave his side the perfect start after they won the toss, smashing five fours and three sixes in an entertaining innings in their Group B match in Nagpur.The world's 12th ranked T20 batsman finished with 61 from 39 balls, a crucial contribution in setting Scotland and imposing target of 171.Captain Asghar Stanikzai offered good support with 55 not out from 50 balls but he was contained in the late overs thanks to tight bowling from Alasdair Evans (1-24 from four) and Safyaan Sharif (0-29 from four).�Both teams are desperate for a win after Group B rivals Zimbabwe got the better of Hong Kong earlier tonight.�
 �Afghanistan captain Asghar Stanikzai chose to bat against Scotland in the second match of the opening day of the World T20 in Nagpur. Stanikzai attributed the reason behind his decision to the flat track and his hopes of getting more turn in the second half of the match.Stanikzai said 150 would be a good total to aim for. He picked a spin-heavy attack comprising left-arm spinner Amir Hamza and leg-spinner Rashid Khan, to be followed by Samiullah Shenwari and Mohammad Nabi. The main seamer picked in the XI was Dawlat Zadran as they left out Hamid Hassan and Shapoor Zadran.Scotland's XI, on the other hand, was pace-reliant with Josh Davey, Alasdair Evans and Safyaan Sharif, even as captain Preston Mommsen said he was "not too bothered" about batting second. The lone frontline spinner included was 19-year-old left-arm spinner Mark Watt. Mommsen said they would look to restrict Afghanistan to under 150-160.Afghanistan: Mohammad Shahzad (wk), Noor Ali Zadran, Asghar Stanikzai (captain), Mohammad Nabi, Samiullah Shenwari, Najibullah Zadran, Gulbadin Naib, Dawlat Zadran, Rashid Khan, Shafiqullah, Amir HamzaScotland: Kyle Coetzer, Calum MacLeod, Matthew Cross (wk), Matt Machan, Richie Berrington, Preston Mommsen (captain), George Munsey, Josh Davey, Safyaan Sharif, Mark Watt, Alasdair Evans��
 Zimbabwe defeated Hong Kong by 14 runs in the opening match, first round group B game, of the sixth ICC World Twenty20 here on Tuesday.Chasing a daunting target of 159, Hong Kong batted very well but gave up in the end against accurate bowling by Zimbabwe seamers.Hong Kong made 144 for six with the help of a fine 53 by Jamie Atkinson, who �hit two sixes and four boundaries in his maiden T20I half-century.Though captain Tanwir Afzal also made a bold attempt, smashing an unbeaten 31 from 17 balls with three fours and a six but could not succeed to reach the target.Donald Tiripano, who scalped Atkinson, bowled a fine last over while Tendai Chatara, on return, took two wickets in two balls.Both Tiripano and Chatara captured two wickets each for 27 and 28, respectively while Sikander Raza and captain Hamilton Masakadza got one each.Earlier sent into bat, Masakadza gave a fine start to his team with an aggressive 20, hitting two boundaries and a six but then wickets started crumbling as his team lost four wickets for 62 in 7.5 overs.However, opener Vusi Sibanda along with Malcolm Waller saved their team from total collapse adding 61 for the fifth wicket before both were dismissed quickly.Sibanda set the game up for Zimbabwe with his maiden T20I half-century. He scored 59 from 46 balls with five fours and two sixes while Waller scored 26.Later Elton Chigubmra played an unbeaten breezy innings of 30 off just 13 balls. He hit three consecutive sixes in the second last over to see Zimbabwe reach a competitive total.For Hong Kong, seamers Tanwir and Aizaz Khan claimed two wickets each while slow left-arm bowler Nadeem Ahmed took one wicket.Sibanda, after the match ended, was declared the Player of the Match.��
 The Pakistan security team in India has given a go-ahead signal for sending the national team to India for participating in the ICC World Twenty20 tournament.However, the Pakistan Cricket Board (PCB) has said that the decision will be taken, whether the national team will go to India, after reviewing the report of the Pakistan security delegation from India.The report is expected to be received this evening and the government will take its decision this tonight or tomorrow morning.The two-member Pakistan security delegation comprising senior director of the Federal Investigation Agency (FIA) Lahore, Dr UsmanAnwar and Pakistan Cricket Board (PCB) Chief Security officer, Col. (R) Azam Khan went to Amritsar (India) from Lahore on Monday to assess the situation at Dharamsala ahead of the Pakistan�India clash in that town on March 19.Meanwhile, the Pakistan cricket team is set to leave for India on Wednesday as five players from Karachi have arrived in Lahore this afternoon while captain of team Shahid Afridi and other players are already in Lahore.However according to reports available from across the border, the International Cricket Council (ICC) World Twenty20 Director MV Sridhar has said that the Pakistan security team has assessed the security measures taken in Dharamsala and are assured by the district administration that ample security would be provided to the players.Sridhar said the PCB security team had inspected the venue and also had a discussion with the Board of Control for Cricket in India(BCCI) and the tournament officials.The PCB delegation visited Dharamsala on Monday and met the BCCI, the tournament organisers and local officials of the Himachal Pradesh Cricket Association (HPCA).And also had the conversation with the district administrative officials that included District Commissioner and the Inspector-General of Police, he said.�
 Zimbabwe finished their innings on 158 runs for eight wickets which will be a challenging total for Hong Kong to chase down in the inaugural match, first round group B, of the sixth ICC World Twenty20 here on Tuesday.Sent into bat by Hong Kong captain Tanwir Afzal, Zimbabwe captain Hamilton Masakadza was out for 20 after hitting two boundaries and a six but then wickets started crumbling as his team lost four wickets for 62 in 7.5 overs.However, opener Vusi Sibanda along with Malcolm Waller saved their team from total collapse adding 61 for the fifth wicket before both were dismissed quickly.Sibanda made 59 from 46 balls with five fours and two sixes while Waller scored 26.Later Elton Chigubmra played an unbeaten breezy innings of 30 off just 13 balls. He hit three consecutive sixes in the second last over to see Zimbabwe reach a competitive total.For Hong Kong, seamers Tanwir and Aizaz Khan claimed two wickets each while slow left-arm bowler Nadeem Ahmed took one wicket.�
 Forty-four-year-old Ryan Campbell became the oldest debutant in T20 internationals as Hong Kong chose to chase in the World T20 opener in Nagpur. Hong Kong have opted to bowl 10 times of the 12 in which they have won the toss, showing a clear preference for knowing their target.Both captains expected the surface to produce plenty of runs and while Hamilton Masakadza would have preferred to bat second as well, he was not too unhappy with the decision.Zimbabwe chose to field what appears their strongest side with Vusi Sibanda and Masakadza at the top, Sikanda Raza in the middle order and senior seamer Tinashe Panyangara to head up the bowlers.Their attack included two others frontline seamers - Tendai Chatara, who recovered from a shin injury, and Donald Tiripano. The four slower options comprised Wellington Masakadza, Malcolm Waller, Sean Williams and Raza.Hong-Kong's line-up would be headed by Babar Hayat, who scored the fourth-fastest hundred in the format, off 50 balls, in the Asia Cup qualifying last month.Zimbabwe: Hamilton Masakadza, Vusi Sibanda, Richmond Mutumbami (wk), Malcolm Waller, Sean Williams, Sikanda Raza, Elton Chigumbura, Donald Tiripano, Tinashe Panyangara, Wellington Masakadza, Tendai ChataraHong Kong: Jamie Atkinson (wk), Ryan Campbell, Babar Hayat, Mark Chapman, Nizakat Khan, Anshuman Rath, Kinchit Shah, Tanwir Afzal (captain), Aizaz Khan, Haseeb Amjad, Nadeem Ahmed.�
� Hosts India are favourites to clinch the sixth edition of the World Twenty20 in what could be a fairytale ending to the glittering career of captain Mahendra Singh Dhoni.India ranked number one in the world will seek to become the first side to win the International Cricket Council (ICC) title on home soil when the 16-team tournament gets under way on Tuesday.They are also gunning to become the tournament�s only two-time winners with South Africa Australia and the mercurial West Indies shaping as leading threats.Australia, the top�ranked Test side, are desperate to win their first World Twenty20 crown while Pakistan�s Mohammad Amir will play his first ICC tournament since returning from a five-year spot-fixing ban.India come into the tournament on the back of an eight-wicket win over Bangladesh in the Asia Cup final and have several key batsmen and bowlers in form.India�s hot streak of 10 wins from their last 11 T20 internationals, coupled with their vast and boisterous home support, means Dhoni�s men will be tough to beat.India also have added incentive to lift the trophy on April 3 at Eden Gardens in Kolkata because of the fact that the tournament may mark Dhoni�s swansong.Dhoni, who led India to the inaugural title in 2007, has struggled with the bat of late and turns 35 this summer.In-form batsman Virat Kohli and deadly off-spinner Ravichandran Ashwin are expected to be the key men for India, who are hosting the championship for the first time.The home side start their campaign against New Zealand on March 15 before playing arch�rivals Pakistan in Dharamsala four days later in a hotly awaited clash.Pakistan endured a disastrous Asia Cup, thanks largely to some atrocious batting and any hopes they have of making an impression will rely on the performances of the controversial Amir.The 23-year-old fast bowler was banned and jailed for deliberately sending down no�balls in a Test match against England in 2010. But he has been in good touch since re-entering the international fold earlier this year and lit up the Asia Cup with a devastating 3-18 spell in Pakistan�s loss to India.Second-ranked South Africa are hoping to spoil India�s party and come into the tournament full of confidence following a T20 series whitewash against England.The Proteas have never won the World Twenty20 but anything less than the final will be considered a failure for the Faf du Plessis-led side, who boast top run�scorers AB De Villiers and Hashim Amla and leg�spinner Imran Tahir.Defending champions Sri Lanka are a shadow of the side that won in Bangladesh two years ago and have struggled to come to terms with the void left by legends Kumar Sangakkara and Mahela Jayawardene.The West Indies tilt at a second title, have been hit by injury, withdrawals and a bitter pay dispute with squad members arguing with the country�s board over fees to play in the tournament.Experienced batsman Darren Bravo, all-rounder Kieron Pollard and off-spinner Sunil Narine are all out but it would be unwise to write off the third-ranked Windies, especially when they boast the big-hitting Chris Gayle.The preliminary round starts on Tuesday with Afghanistan and Bangladesh favourites to join the big eight teams in the Super-10 group stage.In Tuesday�s opening matches, Hong Kong take on Zimbabwe and Afghanistan play Scotland.��
 Lasith Malinga has stepped down as Sri Lanka captain ahead of their World Twenty20 title defence in India, the secretary of the country's cricket board told Reuters on Tuesday.</strongAngelo Mathews would take over as skipper from paceman Malinga, who remained available to play Super 10 stage matches from March 15, Mohan de Silva added."He is stepping down only from captaincy," de Silva said."He has offered himself for selection only after (March) 15 because he is undergoing some treatment here in Sri Lanka," the SLC secretary added.Test and one-day captain Mathews was named Malinga's deputy in the original Sri Lankan squad.According to media reports, paceman Malinga, who led Sri Lanka to the 2014 World Twenty20 triumph in Bangladesh, is recovering slowly from a knee injury and is not certain to play all the side's matches in India.The 32-year-old with an unorthodox action has been a key player in Sri Lanka�s progress to three World Twenty20 finals over the last four editions of the tournament.Sri Lanka begin their bid for a second World Twenty20 title on March 17 with a Super 10 stage match against the Group B winners in Kolkata.
strong>A jury on Monday found a Nashville hotel liable for a nude video of sportscaster Erin Andrews that went viral and awarded her $55 million in damages to be paid by the hotel and the man who shot the video.</strongAndrews sued the Nashville Marriott at Vanderbilt University over a 2008 video of her that was taken by a stalker in an adjoining room and posted on the Internet in 2009. Andrews, a Fox sportscaster who used to work for ESPN, had sought $75 million in damages."We're disappointed with the outcome," defense attorney Marc Dedman told reporters. He said he would consult with his clients - the hotel owners and its former operators - on whether they would appeal.Jurors began deliberating on Monday morning after the two-week trial concluded on Friday."I've been honored by all the support from victims around the world. Their outreach has helped me be able to stand up and hold accountable those whose job it is to protect everyone's safety, security and privacy," Andrews said in a brief statement on her Twitter feed.Andrews testified for two days during the trial, saying that since the video was seen by millions of people, she experienced serious mental injury, including depression, crying spells and sleeplessness.Her lawyers argued that the hotel was negligent and could have prevented the incident.The video was taken by Michael David Barrett, who pleaded guilty in 2009 to stalking Andrews and making the video. He was sentenced to 30 months in prison.Barrett asked the hotel to put him in a room next to Andrews' after an employee confirmed to him that she was staying there on a certain date. He rigged a peep hole to shoot the video of Andrews while she was changing.Lawyers for the hotel argued that the responsibility was solely Barrett's and there was no way the hotel could have foreseen what he did.The parties who were found liable were West End Hotel Partners, the investment group that owned the Nashville Marriott, and the operating company of the hotel at the time, Windsor Capital Group. Marriott International was originally named in Andrews' lawsuit, but the judge removed it.The jury found that the hotel is liable for 49 percent of the $55 million in damages, or $26.95 million, while Barrett is liable for 51 percent of the damages, equivalent to $28.05 million.
 Russian tennis star Maria Sharapova, the highest-paid woman in sports, said on Monday that she failed a drug test at the Australian Open due to a substance she has been taking for 10 years for health issues.</strongThe 28-year-old Sharapova, a five-time grand slam champion, will be provisionally suspended starting March 12, the International Tennis Federation (ITF) said.She is the seventh athlete in a month to test positive for meldonium, which is used to treat diabetes and low magnesium, and was only banned by the World Anti-Doping Agency as of Jan. 1."I made a huge mistake. I let my fans down and I let the sport down," said Sharapova, a teenage tennis prodigy who became the third-youngest Wimbledon champion. "I take full responsibility for it.""I know that with this I face consequences and I don't want to end my career this way. I really hope that I will be given another chance to play this game," former world No.1 Sharapova told a news conference in a downtown Los Angeles hotel.The ITF's anti-doping program calls for a four-year suspension for a positive test, but that ban can be reduced in various circumstances, such as for first-time offences or if the player shows no significant fault or negligence. If a player bears no fault or negligence, there is no suspension.According to Forbes, she earned $29.5 million in 2015, mostly from endorsements.Sharapova said her family doctor had been giving her mildronate, which is also called meldonium, for 10 years after she frequently became sick, had irregular EKG results, a magnesium deficiency and a family history of diabetes."It is very important for you to understand that for 10 years this medicine was not on WADA's banned list and I had been legally taking the medicine. But on January the first, the rules have changed and meldonium became a prohibited substance."The World Anti-Doping Agency, or WADA, declined to comment until ITF issues a final decision.Meldonium is used to treat chest pain and heart attacks among other conditions, but some researchers have linked it to increased athletic performance and endurance. It is listed by WADA among its prohibited metabolic modulators, along with insulin, and some researchers say it can also help recovery.It is not approved in the United States but is available in Russia, Latvia and other countries in that region. Over the past month, Russian cyclist Eduard Vorganov, Russian figure skater Ekaterina Bobrova and Ethiopia-born athletes Endeshaw Negesse and Abeba Aregawi and Ukraine biathletes Olga Abramova and Artem Tyshchenko have all tested positive for meldonium.Sharapova is the most prominent tennis player to test positive for a banned substance in recent years.�
 After South Africa's success chasing in recent matches, Faf du Plessis decided they needed to have another go at defending a total and opted to set Australia a target on a slow Newlands pitch. South Africa opted to rest AB de Villiers and give Hashim Amla an opportunity to open with Quinton de Kock.That was one of three changes South Africa made to their XI. Rilee Rossouw was given another chance with Farhaan Behardien missing out and South Africa dispensed with one of their allrounders to fit Kyle Abbott into the XI. Abbott was included ahead of Chris Morris.Australia also changed their top two and left out Aaron Finch to allow Usman Khawaja to open with his Sydney team-mate Shane Watson. Their other changes came in the bowling department with Adam Zampa returning in Ashton Agar's place and Nathan Coulter-Nile displacing Josh Hazlewood.South Africa: Hashim Amla, Quinton de Kock (wk), Faf du Plessis (captain), JP Duminy, David Miller, Rilee Rossouw, �David Wiese, Kagiso Rabada, Kyle Abbott, Dale Steyn, Imran TahiAustralia: Shane Watson, Usman Khawaja, David Warner, Steve Smith (captain), Glenn Maxwell, Mitchell Marsh, James Faulkner, Peter Nevill (wk), Adam Zampa, John Hastings, +Nathan Coulter-Nile�
 South Africa staged a sensational comeback in defence of a below-par total to claim a first T20 series win over West Indies and sound a warning ahead of the World T20.South Africa's victory came less than three weeks after they beat England for the first time in a T20 and illustrated the progress the team has made since September 2014, when they were beaten 4-0 by England.West Indies, who have not lost a series in the same period of time, will be disappointed with their failure to complete a straightforward chase, especially as they were well on course.They had reached 81 for 3 in the 15th over and even though their captain Stafanie Taylor had been bowled around her legs by Dane van Niekerk, they had their other stalwart Deandra Dottin on hand.Dottin seemed to be striking the ball better than any of her team-mates but when she attempted a loft over long-on, she mistimed to spark a collapse. South Africa took four more wickets in the next 18 balls and then squeezed at the end to pull off a remarkable win.South Africa recovered from an early blow when Shamilia Connell had Trisha Chetty caught at slip and rebuilt cautiously through van Niekerk was joined and Mignon du Preez.The pair found the boundary just five times but rotated strike well to score at more than a run-a-ball and put on 48 for the second wicket. When van Niekerk was bowled as she tried to slog sweep Taylor over midwicket, and with the run-rate stagnating, du Preez took it on herself to try and force the pace. She managed only to gift a catch to short midwicket.Marizanne Kapp and Lizelle Lee also found it heavy going but with South Africa yet to reach 100 and only two overs left, they took some risks. Lee was the only batsman to clear the boundary and her efforts at the end gave South Africa something to defend but when West Indies knocked off the first 14 runs inside two overs, they would not have expected to be successful.Moseline Daniels had Kycia Knight trapped lbw to provide some early hope but that only brought Taylor to the crease. She tried to end matters quickly with her aggressive approach and when she was bowled, Dottin took over. It was only when Dottin was caught that South Africa fought back.Kyshona Knight departed soon after Dottin, sharp fielding resulted in the run-outs of Shermaine Campbell and Shaquana Quintyne and Shabnim Ismail took a good catch off her own bowling to give South Africa belief. Daniels and Ismail bowled tightly at the end and South Africa's fielders were on high alert to deny West Indies.�
 �Minnows Ireland defeated experienced ICC associate Ireland by two wickets in an exciting World Twenty20 first round group A match here at the Himachal Pradesh Cricket Association Stadium on Wednesday night.Chasing 155, openers Zeeshan Maqsood (38) and Khawar Ali (34) provided a fine start of 69 and later Jatinder Singh (24) and Aamer Ali (32) gave a boost to their team.However, Oman completed the sensational victory with two balls remaining when Max Sorensen bowled a noball fulltoss which beat the batsman (Munis Ansari) and also the wicketkeeper (Niall O�Brien) for four byes.Off-spinner Andy McBrine, pacers Kevin O�Brien and Sorensen claimed two wickets each for Ireland.Earlier, Ireland made a good start after electing to bat first as their three top-order batsmen took them to 112 in 15 overs but later they failed to maintain the tempo and were restricted to 154 for five.Openers captain William Porterfield and Paul Stirling scored 29 each while Gary Wilson top-scored with 38.Oman seamer Munis Ansari captured three wickets for 37.Debutant Aamer of Oman was declared the Player of the Match at the end of the match.��
 Ireland set a competitive target of 155 for Oman in the fourth match of the World Twenty20, first round group A, here at the Himachal Pradesh Cricket Association Stadium on Wednesday night.After winning the toss and electing to bat first, Ireland made a good start and their three top-order batsmen took them to 112 in 15 overs but later they failed to maintain the tempo and were restricted to 154 for five.Openers captain William Porterfield and Paul Stirling scored 29 each while Gary Wilson top-scored with 38.Oman seamer Munis Ansari captured three wickets for 37.Ireland picked right-arm quick Craig Young in their three-pronged pace attack, and off-spinner Andy McBrine. They left out left-arm spinner George Dockrell and Andy Balbirnie.�
 Ireland captain William Porterfield won the toss and chose to bat in their opening match of the World T20 against Oman here at the Hiachal Pradesh Cricket Association Stadium on Wednesday.Ireland picked right-arm quick Craig Young in their three-pronged pace attack, and off-spinner Andy McBrine. They left out left-arm spinner George Dockrell and Andy Balbirnie.Oman captain Sultan Ahmed backed his bowling attack, with "good spinners and pacers". Bowling first, they would not have to face the dew factor if it comes into play later in the evening.Ireland: William Porterfield (captain), Paul Stirling, Andrew Poynter, Niall O'Brien, Gary Wilson (wk), Kevin O'Brien, Andrew McBrine, Max Sorensen, Tim Murtagh, Boyd Rankin, Craig YoungOman: Zeeshan Maqsood, Jatinder Singh, Ajay Lalcheta, Adnan Ilyas, Aamir Kaleem, Sultan Ahmed (captain &amp; wk), Mehran Khan, Aamer Ali, Khawar Ali, Munis Ansari, Bilal Khan �
 Chairman Pakistan Cricket Board (PBC) Shaharyar Khan welcomed the decision, announced by the International Cricket Council (ICC), to relocate the ICC World Twenty20 India 2016 Super-10 Group-2 match between India and Pakistan from Dharamsala to Kolkata.�We welcome the decision for moving the match from Dharamsala to Kolkata. There were pressure on us and there was a public opinion to ask ICC to shift the match from Dharamsala. So, it is a welcome step by ICC and BCCI,� PCB Chief Shaharyar Khan said in a press briefing in Karachi.However, Shaharyar added both men and women teams� departure for India has been delayed and the teams will not be sent unless security of players is completely assured.<br/> <br/> �The PCB has also today conveyed to ICC and BCCI that our government is expecting an assurance to Pakistan against specific threats to the Pakistan team from various political parties and groups during the tour. Pending this assurance and in accordance with the recommendation by the Security delegation, the PCB has decided to defer the departure of Pakistan men and women teams to India,� he added. <br/> <br/> Earlier, announcing the decision, ICC Chief Executive David Richardson said: �The decision has been taken following consultation with the BCCI, the relevant state associations, the ICC and BCCI security consultant and other relevant authorities.<br/> <br/> �The decision to relocate the match has been made for security reasons. The concerns initially arose following alleged public comments recently reported by the Chief Minister of Hamachal Pradesh, warning of demonstrations and attempts to disrupt the peaceful conduct of the match.�Our concerns relate both to uncertainty as to the level of those threats, as well as the level of commitment to implement any security plan developed to mitigate such threats.�The decision was not taken lightly," Richardson said. "The ICC and the BCCI understand the disappointment that is likely to be felt by many over the decision to move the match. But the safety and security of the event is of paramount importance to the ICC and we have taken into consideration the concerns shared with us by our security advisors as well as the Pakistan Cricket Board.<br/> <br/> �As far as those who have purchased tickets online for the match, they will be offered the choice of a full refund or the opportunity to exchange their tickets for ones for the Kolkata match.�Finally, I would like to confirm that the ICC has been assured by all relevant state authorities that all adequate security measures are in place and will be implemented to ensure that the event is staged in a safe and secure environment for all stakeholders.���
 Bangladesh won their first match in the first round Group A of the World T20 tournament against Netherlands, all due to a combined bowling effort and an earlier responsible batting display from Tamim Iqbal.Taskin Ahmed bowled a high-quality last over, giving away eight runs when Netherlands required 17 to win, to help Bangladesh start their World T20 campaign with an eight-run win in Dharamsala. The game had swung in nearly every over as neither team could take a hold of the contest.Mudassar Bukhari and Pieter Seelaar kept Netherlands in the hunt with a 16-run penultimate over, which also included the wicket of Tom Cooper. Bukhari was run-out in the last over, and neither Seelaar nor Logan van Beek could find the boundaries.Ultimately, Tamim Iqbal's unbeaten 83, as the rest of the Bangladesh batting line-up struggled, Mashrafe Mortaza's boundary-less last three overs and Taskin's accurate last over combined for Bangladesh's win.The game was in Netherlands' grasp when they needed 54 runs in the last five overs with seven wickets in hand. Captain Peter Borren started off the assault with a one-handed sweep through midwicket for four. Subsequently, he was dropped in the same region by Nasir Hossain before the same fielder caught him at the end of the over.In the next over, Mortaza, who conceded one four in his spell, was unlucky not to have Cooper's wicket after the ball struck the off stump but the bails didn't budge. Van der Merwe was removed later in the over though, the thin edge carrying to the Mushfiqur Rahim.��
 Opener Tamim Iqbal played a responsible innings to steer Bangladesh to a competitive total against Netherlands in the third match of the World T20 first round group A here at the Himachal Pradesh Cricket Association Stadium on Wednesday.Sent into bat by Netherlands, Bangladesh made 153 for seven, thanks to Tamim, who stayed at the wicket from beginning till the end and scored an unbeaten 83. His 58-ball innings was laced with three sixes and six fours.No other batsman could make any significant contribution as only three players besides Tamim got into the double figures. They were Soumya Sarkar (15), Sabbir Rahman (15) and Mahmudullah (10).Seamer Timm van der Gugten was the most successful bowler for the Netherlands, taking three for 21 while Paul van Meekeren claimed two for 17.<br/>Bangladesh made one change, bringing in Arafat Sunny in place of left-arm pace bowler Abu Hider who was in the XI in the Asia Cup final. Netherlands went with the pace-bowling pair of Paul van Meekeren and Logan van Beek, and left out chinaman bowler Michael Rippon.This was Bangladesh's first international match in India in nearly a decade
 Netherlands captain Peter Borren decided to field in the side's opening World T20 game against Bangladesh in Dharamsala. He said the pitch was likely to be good for batting over 40 overs, so they wanted to chase a target.Bangladesh made one change, bringing in Arafat Sunny in place of left-arm pace bowler Abu Hider who was in the XI in the Asia Cup final. Mustafizur Rahman has still not recovered from the side strain that kept him out of the last few matches of the Asia Cup. This was Bangladesh's first international match in India in nearly a decade.Netherlands went with the pace-bowling pair of Paul van Meekeren and Logan van Beek, and left out chinaman bowler Michael Rippon.Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim (wk), Shakib Al Hasan, Mahmudullah, Nasir Hossain, Mashrafe Mortaza (captain), Al-Amin Hossain, Arafat Sunny, Taskin AhmedNetherlands: Stephan Myburgh, Wesley Barresi (wk), Ben Cooper, Tom Cooper, Peter Borren (captain), Roelof van der Merwe, Pieter Seelar, Mudassar Bukhari, Logan van Beek, Tim van der Gugten, Paul van Meekeren�
 The India-Pakistan World T20 match, scheduled to be played at Dharamsala on March 19 has been moved to Eden Gardens in Kolkata, because of security concerns over the original venue.The ICC chief executive David Richardson made the announcement in Delhi on Wednesday, ending weeks of uncertainty over the fixture, which began with the Himachal Pradesh chief minister saying his government would not be able to provide adequate security for the match.."The decision to relocate the match has been made for security reasons," Richardson said. "The concerns initially arose following alleged public comments recently reported by the Chief Minister of Himachal Pradesh, warning of demonstration and attempts to disrupt the peaceful conduct of the match.�Our concerns relate both to uncertainty as to the level of those threats as well as the level of commitment to implement any security plan developed to mitigate such treats."The decision was not taken lightly. The ICC and the BCCI understand the disappointment that is likely to be felt by many over the decision to move the match. But the safety and security of the event is of paramount importance to the ICC and we have taken into consideration the concerns shared with us by our security advisors as well as Pakistan Cricket Board."As far as those who have purchased tickets online for the match, they will be offered the choice of a full refund or the opportunity to exchange their tickets for ones for the Kolkata match."Finally, I would like to confirm that the ICC has been assured by all relevant state authorities that all adequate security measure are in place and will be implemented to ensure that the event is staged in a safe and secure environment for all stakeholders."Though the PCB had always expressed reservations about playing in Dharamsala once the issue began, the BCCI and the ICC remained confident the game would go ahead as planned.However, the problems came to a head this week after a three-man security delegation from Pakistan inspected the venue and were unhappy with the preparations. Their report to the PCB on Tuesday recommended that Pakistan not play at the venue, and the ICC announced the change in venue the next day.
 Following a crucial meeting between Prime Minister Nawaz Sharif and Interior Minister Chaudhry Nisar Ali Khan, Pakistan has decided not to participate in World Cup Twenty20 until India assures to provide full security to Pakistani team.</strongThe Interior Ministry has apprised India in written over the decision of Pakistan.�Pakistan team will not depart to participate in World Cup T20 until high-level Indian officials ensure security for the team,� the ministry said and added that Pakistan wants written security assurance from India.The decision was taken following a meeting between Nisar Ali Khan and PM Nawaz Sharif in Islamabad today.Sources privy to the details of the meeting said, the interior minister also presented initial report prepared by the Pakistan security team in India to the Premier.The two-member Pakistan security delegation comprising senior director of the Federal Investigation Agency (FIA) Lahore, Dr UsmanAnwar and Pakistan Cricket Board (PCB) Chief Security officer, Col. (R) Azam Khan went to Amritsar (India) from Lahore on Monday to assess the situation at Dharamshala ahead of the Pakistan India clash in that town on March 19.The security team was constituted by the Pakistan government after Himachal Pradesh Chief Minister Virbhadra Singh expressed his state government difficulty to provide security to the Pakistan team which is scheduled to play India on March 19 at Dharamshala.Meanwhile, the Board of Control for Cricket in India (BCCI) has suggested that Pakistan play the World T20 match in Calcutta instead of Dharamshala in view of their security fears.PCB Chairman Shahryar Khan has also asked ICC chief executive David Richardson to shift the March 19 encounter to Kolkata or Mohali.
 While Maria Sharapova�s fellow players were shocked by the Russian�s announcement that she failed a drug test at the Australian Open, most of them felt the "huge mistake" could have been avoided.</strongWorld number three Agnieszka Radwanska of Poland described it as "a very sad day for tennis" but expressed the views of many by saying it was down to every player, via their doctor, to check whether prescribed medications were legal.Five-times grand slam champion Sharapova tested positive for meldonium, which some researchers have linked to increased athletic performance and endurance, after failing by her own admission to realise that it had been outlawed since Jan.1."I don�t check those emails," Radwanska told reporters on Wednesday about receiving notification of which substances and medications were on the banned list before the start of every year."That is what my doctor is doing and my agent. "I am scared because I know every pill can have something in it so when I am sick I am just taking aspirins 100 percent because I am always afraid that it is going to be something else.(To be safe) I had better play with the flu. "Men�s world number five Rafael Nadal pointed to Sharapova�s negligence while also hoping that the Russian had made an innocent mistake."Everybody can have mistakes," the Spanish left-hander said at Indian Wells. "I want to believe for sure that it is a mistake for Maria, she didn�t want to do it. "But it is obvious that it is negligence. The rules are like this. It is fair and now she must pay for it.Eighth-ranked Czech Petra Kvitova, Wimbledon champion in 2011 and 2014, expressed sympathy for Sharapova but felt that the doping system was working well."Of course it�s not great for her," the 26-year-old left-hander said. "It�s something which we all should know, what we are taking and what we are putting into the body."It�s a huge mistake unfortunately and she has taken responsibility for it. We see that they (doping authorities) are trying to have a clean sport.The system is working, they are doing a good job on that.� "Sharapova, who faces a ban of up to four years pending an investigation by the International Tennis Federation, has got vocal support from fellow Russian Svetlana Kuznetsova but other players have taken a less charitable view.Three-time grand slam champion Jennifer Capriati tweeted earlier this week: "I�m extremely angry and disappointed.I had to lose my career and never opted to cheat no matter what. I had to throw in the towel and suffer."I didn�t have the high priced team of drs that found a way for me to cheat and get around the system and wait for science to catch up."In stark contrast, twice grand slam champion Kuznetsova tweeted on Wednesday: "First of all, I want to say that Maria is a great athlete, and even this "strange mistake" will not be able to outshine all of what she has achieved in tennis."And most importantly, none of us, especially me, have no rights to comment this story - not to criticize or evaluate Maria.Doping agency has to see this case, not others.� "Sharapova also has been backed by both world number ones, Novak Djokovic and Serena Williams."I obviously wish her all the best," Djokovic told TMZ Sports.� "I�ve known her for a long time and I feel for her for what�s happening. I just hope she gets out of this stronger. "Williams said: "It�s just taking responsibility, which she admitted that she was willing to do and ready to do. She showed a lot of courage and a lot of heart.She�s always shown courage and heart in everything she�s done, and this is no different.�
 The persistent rain abandoned the match between Bangladesh and Ireland in the first round group A of the World Twenty20 here at the Himachal Pradesh Cricket Association Stadium on Friday.Thus, Ireland were knocked out of the World T20, when play was called off at 10:20pm local time, after rain had stopped the game after eight overs in the Bangladesh innings.Now, the Bangladesh-Oman encounter will decide who goes through from Group A, with both teams on three points each while the Netherlands and Ireland are on one point each.The match was always at the mercy of the weather after rain forced the Oman-Netherlands game earlier in the afternoon to be abandoned. Rain had stopped at around 7:30pm and allowed the match to start at 9:45pm, but it relented for just over an hour.The rain first delayed the match and was later restricted to 12-overs-a-side before Ireland captain William Porterfield won the toss and sent Bangladesh into bat first.However, Bangladesh batted at nearly 12 runs per over and when they reached 94 for two in just eight overs, rain again stopped the play and later the match was abandoned. Both teams were allotted one point each in the no-result match.Opener Tamim Iqbal made 47 off 26 balls, hitting four sixes and three boundaries.
 Ireland captain William Porterfield won the toss and elected to field first against Bangladesh in the eighth match of the of the World Twenty20 (first round, group A) here at the Himachal Pradesh Cricket Association on Friday.Both teams are playing their second match in the tournament. The match, delayed by rain, has been �restricted to 12-overs-a-side.This will be a must-win game for Ireland as they were stunned by Oman in their first match.Rain had washed out the previous match of the day, between Oman and Netherlands, which was called off an hour and 20 minutes after the scheduled start.Bangladesh brought in Abu Hider and Mohammad Mithun in place of Nasir Hossain and Arafat Sunny, who is flying to Chennai on Saturday to have his bowling action tested after it was reported by the ICC. Taskin Ahmed, the other bowler whose action was reported, would play against Ireland.Ireland brought in left-arm spinner George Dockrell for seamer Craig Young.Teams:Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim (wk), Shakib Al Hasan, Mahmudullah, Mithun Ali, Mashrafe Mortaza (captain), Al-Amin Hossain, Abu Hider Roni, Taskin AhmedIreland: William Porterfield (captain), Paul Stirling, Gary Wilson, Niall O'Brien (wk), Kevin O'Brien, Andrew Poynter, Andy McBrine, Max Sorensen, George Dockrell, Boyd Rankin, Craig YoungShakib Al Hasan is 21 runs away from becoming the first Bangladeshi batsman to reach 1,000 runs. Tamim Iqbal is close behind too, needing 58 runs to reach the same milestoneBangladesh has a 3-1 win-loss record over Ireland in T20Is but their last game was in July 2012.
 The first international match between Oman and Netherlands was washed out, without a ball being bowled, after persistent rain left large puddles on the field in Dharamsala.The result meant that Netherlands, who had launched themselves to the tournament proper in the previous World Twenty20 with a stirring run-chase, were knocked out, just two matches into their campaign this year.Oman, coming off a proper high, having scalped Associate favourites Ireland on Wednesday, however, remained in the hunt for the Super 10s, with three points from two games.The two sides shared points, after the match was abandoned at 4.48pm local time, an hour before the cut-off time.It had rained during the morning and overnight as well, leaving the ground staff with an uphill task. Rain, however, had relented at 2.45pm, which was just enough for the coin to go up.Oman captain Sultan Ahmed, the oldest captain in the tournament, opted to bowl, explaining that his decision was motivated by overhead conditions.Minutes after the toss, when the players were preparing to line up for the national anthems, rain returned, forcing the covers back on. The ground staff, in fact, covered the entire playing area. Rain, though, only got heavier, and had the final say.The forecast for the second match of the day, between Bangladesh and Ireland, also looks bleak.
 Pakistan�s Interior Ministry has cleared the national cricket team to travel to India for the World Twenty20 after getting the full security assurances from Indian authorities following concerns about player safety, the Pakistan Cricket Board (PCB) said on Friday.Pakistan had earlier said its men�s and women�s teams would travel to India only after New Delhi gave a public guarantee on the safety of its players."The interior minister has given permission to send the Pakistan cricket team to play the World T20 on the basis of solid assurances received from chief minister of West Bengal and the union home secretary and the home minister (in India)," PCB executive committee chairman Najam Sethi told reporters."The team is completely ready and hopefully they will fly to Dubai tonight and then from there will leave straight for India," Sethi added.Chairman Pakistan Cricket Board (PCB) Shaharyar Khan informed media that the interior minister Chaudhry Nisar Ali Khan officially permitted the PCB to send the cricket team to India for participating in the World Twenty20 tournament.Earlier, Najam Sethi, head PCB executive committee told media that the board had received Thursday night assurances from the International Cricket Council (ICC) and the Board of Cricket Control in India (BCCI) for give the Pakistan team a full security.Later on Friday, Pakistan high commissioner in India was assured by Indian home secretary Rajnath Singh to provide a foolproof security to Pakistan cricket team.Chief minister West Bengal Mamata Banerjee also assured Pakistan ambassador to give full security to the team.Subsequently, Najam Sethi called on federal interior minister and briefed him about the whole situation and also showed him correspondence between the PCB and the BCCI after which the minister decided to allowed to send the team to India.PCB chairman Shaharyar Khan told reporters in Lahore that the players were given the pullout option if they felt any security threat but all 15 squad members wanted to play in the tournament."We want cricketing ties to remain active.Our hope is that our cricketing relations (between India and Pakistan) remain intact," Khan said.
 Pakistan has decided to send its cricket team to India to participate in WorldT20 tournament after New Delhi assured it of providing foolproof security to players in the wake of threats from extremist elements, sources said on Friday.</strongPakistan High Commissioner to New Delhi Abdul Basit said Indian Home Secretary has assured him that foolproof security would be provided to the visitors. �Now I will send my recommendations to Pakistan,� the commissioner said.The decision to give the team go ahead for the visit was taken after International Cricket Council (ICC) conveyed Indian assurance to Pakistani cricket officials.The sources said PCB Chairman Shahryar Khan informed the interior minister about the situation, who then talked to prime minister, the sources.The team is expected to depart at 3:00 am on Saturday. Pakistan and India would clash on March 19 in Kolkata as venue of the match was shifted from Dharamshala.�
 The Federal government has been asked by the Pakistan Cricket Board (PCB) to decide on cricket team�s departure to India for taking part in the World T20 Cricket 2016 in India after assurance from the Western Bengal Cricket.</strongPCB spokesperson Amjad Bhatti told the media men here Friday that the decision regarding Pakistan cricket team�s departure to India lies with Ministry of Interior, adding that it would be clear by the end of the day whether Pakistan would participate in the cricket carnival in India or not.To a question, the spokesperson said, �The PCB has communicated the written assurance from the Bengal Cricket Association vis-a-vis security of the Pakistan Cricket team during the India yatra.�He said the PCB has also conveyed the verbal assurances by the BCCI to the Interior Ministry.The Ministry of Interior would also consider the report by the Pakistan High Commission in India while making a decision by the eve.
 Indian government has assured full security to Pakistan cricket team in World Cup Twenty20 after hard-line Hindu nationalists threaten to dig up pitch if Pakistan play in India.</strongSpeaking to media on Friday, Indian Home Minister Rajnath Singh assured foolproof security to Pakistan cricket team.Indian media quoted Rajnath as saying, "Anyone coming to India will be provided security. There is no doubt about it." dir="ltr" lang="en">�Following the assurance from Indian home minister publicly, consultation is being held at the interior ministry over the participation of Pakistan team and a decision regarding this would be made shortly.Earlier, Pakistan Cricket Board Chairman Shahryar Khan, while talking to Indian media, also confirmed Indian government and BCCI had given security assurance for the team, however, the final decision would be made by Interior Minister Nisar Ali Khan. dir="ltr" lang="en">�Pakistan�s Interior Minister, Chaudhry Nisar on Thursday ruled out Pakistani cricket team�s departure to India to participate in Twenty20 World Cup until the Indian government comes up with a public assurance to provide fool-proof security to the team.A Hindu hard-line group on Thursday issued fresh threat to dig up the Eden Gardens pitch in Kolkata where Pakistan is expected to play its first match of the World T20 tournament after ICC shifted the venue from Dharamshala.The Anti-Terrorist Front of India has been opposing presence of the Pakistan team on Indian soil. Earlier, they had threatened to dig up the pitch at Dharamshala where the India-Pakistan rendezvous was expected.
 Scotland defeated Hong Kong under D/L method in the rain-affected match in the World Twenty20 first round group B here at the Vidarbha Cricket Association Stadium Saturday night.Scotland had gone 20 matches in ICC global events - since the 1999 World Cup - without a win. The losing streak hung like Coleridge's albatross around their necks. They were desperate to shake it off.In their 21st match, against Hong Kong on an unexpectedly rainy night in Nagpur, they finally did it and exited the World T20 with an eight-wicket win, which was set up by a sharp bowling performance.The portents were clear right from the third ball of the match. Left-arm spinner Mark Watt gave generous flight as the ball gripped the cracked pitch and tested Jamie Atkinson with slow turn. Some balls turned like that, some skidded on, while others stopped on the batsmen.The trio of Watt, Con de Lange, and Matt Machan combined to send Hong Kong on a tail spin with figures of 12-0-66-4.Rain gave Hong Kong brief respite, and the contest was then reduced to a 10-over shootout, after which Scotland overhauled the revised target of 76 with ease.George Munsey kick-started the chase with a flurry of fours. By the time he holed out, Scotland had knocked off more than one fourth of their target. And by the sixth over Scotland had dashed past 50, with several of their players lining up by the edge of the boundary to celebrate.
 �Pakistan cricket team arrived in India on Saturday evening to participate in the World Twenty20 cricket tournament amid tight security arrangements.</strongAccording to local media, hundreds of fans gathered to welcome the players as Pakistani team and support staff reached the Netaji �Subhas Chandra Bose International Airport in the evening .Times of India reported that Shahid Khan Afridi reciprocated the warm gestures, waving at the crowd before leading his team-mates into two buses as they went straight to hotel.Hundreds of security personnel are said to have been deployed for the security of Pakistani team.On Friday, Pakistan�s Interior Ministry cleared the national cricket team would travel to India for the World Twenty20 after getting the full security assurances from Indian authorities following concerns about player safety.Pakistan had earlier said its men�s and women�s teams would travel to India only after New Delhi gave a public guarantee on the safety of its players.Both teams were scheduled to depart for India earlier this week, but the departure was put on hold due to the controversy over security assurances.The ICC moved Pakistan-India clash from Dharamsala to Kolkata, after the report of a three-member delegation from Pakistan that visited India to assess security arrangements in Dharamsala.�
 Hong Kong set a target of 128 for Scotland in a dead rubber match of the first round Group B in the World Twenty20 here at the Vidarbha Cricket Association Stadium on Saturday.Winning the toss, Hong Kong captain Tanwir Afzal elected to bat first but his top-order batsmen failed to make a good start.At 33 for three, Mark Chapman and Anshuman Rath came to rescue and added 49 runs for the fourth wicket before Rath departed for 21.Then again wickets began falling at regular intervals and Chapman also gone out after top scoring with 40 runs. �Then 28 runs were added in the last two overs and Hong Kong reached 127 for seven.Scotland made three changes - Con de Lange, the left-arm spinner, came in for off-spinner Michael Leask. Safyaan Sharif and Alasdair Evans were left out for Rob Taylor and Gavin Main.Hong Kong made one change - seamer Adil Mehmood, who had made his debut against Afghanistan last month in the Asia Cup, replaced Haseeb Amjad.
 Hong Kong captain Tanwir Afzal opted to bat in a dead rubber against Scotland, who were chasing their first win at an ICC event in 20 attempts since the 1999 World Cup.Preston Mommsen, the Scotland captain, conceded that he had preferred to bat as well, on a cracked pitch in Nagpur that showed signs of turn in the first match of the day between Afghanistan and Zimbabwe.Scotland made three changes - Con de Lange, the left-arm spinner, came in for off-spinner Michael Leask. Safyaan Sharif and Alasdair Evans were left out for Rob Taylor and Gavin Main.Hong Kong made one change - seamer Adil Mehmood, who had made his debut against Afghanistan last month in the Asia Cup, replaced Haseeb Amjad.Teams:Hong Kong : Jamie Atkinson (wk), Ryan Campbell, Babar Hayat, Mark Chapman, Anshuman Rath, Nizakat Khan, Kinchit Shah Tanwir Afzal (captain), Aizaz Khan �Adil Mehmood, Nadeem AhmedScotland: George Munsey, Kyle Coetzer, Matthew Cross (wk), Matt Machan, Richie Berrington, Preston Mommsen (captain), Con de Lange, Josh Davey, Rob Taylor, Mark Watt, Gavin Main
 Afghanistan, an ICC associate defeated full member Zimbabwe by 59 runs in the qualifiers first round group B match to enter the Super 10s stage of the World Twenty20 here at the Vidarbha Cricket Association Stadium on Saturday.Batting first after winning the toss, Afghanistan piled up a big total of 186 for six and then bowled out Zimbabwe for 127 in 19.4 overs.Zimbabwe failed to chase the huge target as none of their batsmen could resist against Afghan bowlers, who all were among the wickets except Gulbadin Naib.The highest score was just 17 not out, made by Tinashe Panyangara, who was also the most successful bowler with three for 32.For Afghanistan, pace bowlers Rashid Khan and Hamid Hassan captured three for 11and two for 11, respectively.Mohammad Nabi�s career-best 52 helped Afghanistan recover from a mid-innings wobble and build on a strong start to post a total Zimbabwe never looked capable of chasing.Nabi and Samiullah Shenwari recorded their second-highest partnership after a rip-roaring start from Mohammad Shahzad.Before Nabi and Shenwari came together, Zimbabwe had taken four wickets in 20 balls. But their 98 runs off 64 balls lifted �Afghanistan up to a rock-solid total.Nabi smashed two sixes and four boundaries in his 32- ball innings while Shenwari made 43 from37 balls with four fours and a six and Shahzad scored 40 off 23 balls with seven fours and a six.�
 Afghanistan piled up their best total in a World T20 match when they batted first in the tournament�s qualifiers of the first round group B encounter against Zimbabwe here at the Vidarbha Cricket Association Stadium in Jamtha on Saturday.After winning the toss, Afghanistan decided to bat first and amassed 186 runs for six in the 20 overs with the help of brilliant knocks from Mohammad Nabi, �Samiullah Shenwari and Mohammad Shahzad.Nabi smashed 52 off 32 balls with two sixes and four boundaries, Shenwari made 43 from37 balls with four fours and a six while opener Shahzad scored 40 off 23 balls with seven fours and a six.Nabi and Shenwari, who had to rebuild after a rip-roaring start from Shahzad, recorded their second-highest partnership. Before they had come together Zimbabwe had taken four wickets in 20 balls. But their 98 runs off 64 balls lifted �Afghanistan up to a rock-solid total.Zimbabwean pacer Tinashe Panyangara claimed three wickets for 32.
 Afghanistan captain Asghar Stanikzai won the toss and elected to bat first against Zimbabwe in the World T20 qualifiers of the first round group B here at the Vidarbha Cricket Association Stadium in Jamtha on Saturday.The match will be a knockout clash between the two teams as the winner of will enter the Super 10s stage of the World T20. Both teams have won two games each in the group stage so far and Zimbabwe's wins have come defending totals.Their batting line-up has struggled upfront but they did not make any changes to their XI in the must-win encounter.Afghanistan seemed to hold all the aces, having beaten Zimbabwe in all four of their previous T20I encounters and securing a comfortable win over Hong Kong.They kept the same team from that match for this one and expected conditions to be similar to what they were on Thursday.Teams:Zimbabwe: Hamilton Masakadza (captain), Vusi Sibanda, Richmond Mutumbami (wk), Sean Williams, Sikandar Raza, Malcolm Waller, Elton Chigumbura, Donald Tiripano, Wellington Masakadza, Tinashe Panyangara, Tendai ChataraAfghanistan: Mohammad Shahzad (wk), Noor Ali Zadran, Asghar Stanikzai (captain), Gulbadin Naib, Mohammad Nabi, Samiullah Shenwari, Najibullah Zadran, Shafiqullah, Rashid Khan, Dawlat Zadran, Hamid Hassan
 Pakistan cricket team on Friday night left for India via Abu Dhabi to participate in World Cup Twenty20 after getting full security assurances from Indian authorities.</strongThe 15-men squad led by skipper Shahid Khan Afridi left for Abu Dhabi from where the green shirts will travel to Kolkata on Saturday evening.Head coach Waqar Younus and Manager Intikhab Alam are among the 12 officials of from Pakistan.On Friday, Pakistan�s Interior Ministry cleared the national cricket team to travel to India for the World Twenty20 after getting the full security assurances from Indian authorities following concerns about player safety, the Pakistan Cricket Board (PCB) said.Pakistan had earlier said its men�s and women�s teams would travel to India only after New Delhi gave a public guarantee on the safety of its players.After a solid guarantee from New Delhi, Pakistan�s men�s and women�s cricket teams had been given a go ahead to travel to India.Both teams were scheduled to depart for India earlier this week, but the departure was put on hold due to the controversy over security assurances.The ICC moved Pakistan-India clash from Dharamsala to Kolkata, after the report of a three-member delegation from Pakistan that visited India to assess security arrangements in Dharamshala.
 The World Twenty20 has provided a stage for Asian sides to flourish in its short history and host India's scintillating form leading up to the tournament will only fuel local hopes that the trend will continue.</strongIndia, Pakistan and Sri Lanka have won three out of the five stagings of the biennial tournament, while the 2010 final was the only one that did not feature a team from South Asia.Former players and pundits have been united in endorsing India, who won the 50-over World Cup at home in 2011, as favourites to add a second World Twenty20 title to their cabinet and given the side's run of form, it is hardly surprising.Mahendra Singh Dhoni's men have won 10 of the 11 Twenty20 contests they have played this year, including a 3-0 win in Australia, and have looked supremely balanced with their often-soft bowling attack also showing plenty of bite.The only worry for India's fanatical cricket following will be that the team have peaked too early and they will be desperately hoping that the law of averages catches up with them after the final at Kolkata's Eden Gardens on April 3.While India have enjoyed a relatively trouble-free build up to the tournament, it has been far from smooth sailing for fellow Asian contenders Pakistan and Sri Lanka.Pakistan, the 2009 champions, arguably have the most potent pace attack with left-arm fast bowler Mohammad Amir seamlessly integrating into the side after a five-year spot-fixing ban.But Shahid Afridi's men have had troubles with their top-order, prompting the selectors to twice tinker with the squad and a row over security leading to a venue change for the highly charged India match will not have helped matters.Defending champions Sri Lanka have failed to adequately replace retired batting stalwarts Kumar Sangakkara and Mahela Jayawardene after their 2014 World Twenty20 triumph and were forced to install Angelo Mathews as their new captain this week.The island nation have lost recent series against New Zealand, India and a woeful Asia Cup display led to the sacking of the entire selection panel.The team and their supporters will keep their fingers crossed on the fitness of pace spearhead Lasith Malinga, who relinquished the captaincy due to the slow recovery of his injured knee but insists he can still play a part.strong>AUSTRALIA'S T20 CONUNDRUM</strongAustralia will look to end their lack of success in the format and add the T20 title to their 50-over World Cup triumph on home soil last year, banking on their explosive batting line-up to make up for the lack of a potent spinner.They have not left anything to chance though, replacing Aaron Finch with test and one-day international skipper Steve Smith to lead the side, who have had a number of players plying their trade in the Indian Premier League (IPL) over the years.Another side hoping the experience of playing in the IPL will come in handy for their players will be South Africa, who once again will be determined to shed their 'chokers' tag at another global championship.AB de Villiers, believed by most to be the most destructive batsman in world cricket, has often entertained crowds in India during the IPL with his 360 degree batting and South Africa will hope the 32-year-old can end their wait for a World Cup title.strong>FEARLESS ENGLAND</strongJos Buttler, Alex Hales and Eoin Morgan will believe they can be match de Villiers' pyrotechnics for England but the 2010 champions' bowling attack appears short of experience.They also have a powerful striker in Ben Stokes and the dependable Joe Root with the willow but it is to be seen if the batting can gloss over their bowling shortcomings.Fellow contenders New Zealand may have a few psychological issues to resolve if they are to overcome their tendency to come up short on the big stage.Their preparations have been overshadowed by the recent death of former captain Martin Crowe while the retirement of Brendon McCullum has robbed them of an exceptional reader of the game with unbridled batting firepower.Darren Sammy will also have to inspire an understrength West Indies team, who just weeks ago were planning to boycott the tournament over a contractual dispute, if the 2012 champions are to stand any chance of winning a second title.
strong>Five-times grand slam tennis champion Maria Sharapova hit out at some media accounts of her doping case that she termed "wrong" in an open letter to her fans on Facebook on Friday.</strongSharapova, who tested positive for the banned drug meldonium at the Australian Open in January, is facing a suspension of up to four years by the International Tennis Federation (ITF) and has already lost numerous sponsorships in the aftermath.The former world number one thanked her fans for their "tremendous outpouring of support" before launching into a critique of what she believed were some inaccurate reports."A report said that I had been warned five times about the upcoming ban on the medicine I was taking. That is not true and it never happened," Sharapova wrote.The 28-year-old Russian said she was making no excuses for not knowing about the ban that went into effect on Jan. 1, but said that after the first announcement, other notices were "buried in newsletters, websites, or handouts.""Again, no excuses, but it�s wrong to say I was warned five times," said Sharapova, who has said she took the drug for 10 years due to a family history of heart issues and diabetes.The World Anti-Doping Agency (WADA) added meldonium to their banned substance list after concluding that it improves blood flow and boosts exercise capacity."I�m proud of how I have played the game. I have been honest and upfront," Sharapova said."I look forward to the ITF hearing at which time they will receive my detailed medical records."I hope I will be allowed to play again."
� Bangladesh won by 54 runs under D/L method in the rain affected World Twenty qualifiers Group A match against Oman here at the Himachal Pradesh Cricket Stadium on Sunday.Oman struggled in the chase, losing wickets regularly before rain made regular appearances and disappearances to shorten the game continually.In the end, Oman faced a task they could not keep up with and succumbed to a 54-run loss. Oman can take a lot away from this tournament, though. That win against Ireland will give their game a lot of confidence. �Tamim Iqbal creamed the Oman bowlers to score Bangladesh's maiden T20 international century and secure his team's berth in the main draw of the tournament.His hundred set up a total of 180 for 2, which Shakib Al Hasan defended by razing the middle order on a rainy night in Dharamsala.Oman, who were flying high after a victory against Ireland, were shackled to 65 for 9 in 12 overs.The match was interrupted twice by rain and Oman's target was revised to 120 in 12 overs. They effectively needed 75 off 22 balls after the second break.Oman then lost a spate of wickets and were never going to get close, bringing to an end a frustrating week in Dharamsala, where bad weather affected four of the first-round matches.�
 �Opener Tamim Iqbal guided Bangladesh with a brilliant unbeaten century to set a difficult target of 181 for Oman in a must-win match in the qualifiers Group A of the World Twenty20 here at the Himachal Pradesh Cricket Stadium on Sunday.The side that wins this game will go through to the main draw of the World T20.Sent into bat, Bangladesh made 180 for two, thanks to Tamim who ecame the first Bangladeshi batsman to score a hundred in a T20 International.Playing his 49th T20I, he also became the first Bangladeshi player to score 1000 or more runs in this format.The other most in-form batsman Sabbir Rehman along with Tamim added 97 runs for the second wicket before being bowled by leg-spinner Khawar Ali for 44 scored off 26 balls with five fours and a six.Tamim�s opening partner Soumya Sarkar was bowled by left-arm spinner Lalcheta for 12 while Shakib Al Hasan scored an unbeaten 17 from nine balls with a six and two boundaries.Shakib, who is playing his 50th T20I, needs only four runs to complete 1,000 runs.�
 Oman captain Sultan Ahmed won the toss and decided to bowl in their knockout game against Bangladesh in the World Twenty20 first round Group A �match here at the Himachal Pradesh Cricket Association Stadium on Sunday.The side that wins this game will go through to the main draw of the World T20.The toss was delayed by 13 minutes because the Ireland-Netherlands match ended only around 6.56 pm following a long rain delay.Both teams were unchanged from their previous games. Oman were going with the same line-up that beat Ireland while Bangladesh were playing the same XI that played the abandoned game against Netherlands.Teams:Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim (wk), Shakib Al Hasan, Mahmudullah, Mohammad Mithun, Mashrafe Mortaza (captain), Al-Amin Hossain, Abu Hider, Taskin AhmedOman: Zeeshan Maqsood, Khawar Ali, Jatinder Singh, Adnan Ilyas, Mehran Khan, Aamir Kaleem, Amir Ali, Sultan Ahmed (captain &amp; wk), Ajay Lalcheta, Munis Ansari, Bilal Khan
 Netherland defeated Ireland in a dead rubber curtailed by rain to six-overs-a-side World Twenty qualifiers Group A match here on Sunday.Netherland after sent into bat, made 59 for five in six overs and later restricted Ireland to 47 for seven to win the match by 12 runs.There was snow on the mountain tops in Himachal Pradesh, if the drizzle had cleared the temperatures were plunging and Ireland felt the chill as once they were again tormented by the side in orange.The orange flash at deep midwicket that sparkled most brightly of all came 14 balls into Ireland's pursuit of 60 and belonged to Pieter Seelaar as he sprinted along the midwicket boundary before clinging to a slick diving catch.Paul van Meekeren banged the ball in back of a length, Kevin O'Brien's pull was middled, but the shot that might have broken the run chase (had it gone for six Ireland would have been 34 for 1 after 14 balls) was instead the harbinger of Ireland's growing despondency.As for van Meekeren, a return of 4 for 11 will awaken a little interest, one suspects, in English county cricket. By the time he began the final over, Ireland were still 20 short, and he demolished the stumps of Max Sorensen and George Dockrell to ensure there was no monkey business.Both sides were already eliminated but Netherlands were happy to get the consolation win..Only one Ireland player was allowed to bowl two overs and Dockrell's left-arm spin proved to be a wise choice, registering 3 for 7, and producing catching opportunities from three of his first five balls, two of which were taken. Seven dot balls out of 12, including an over in the Powerplay, was an astounding effort that might have brought victory.Dockrell found turn all the same as Netherlands' batsmen floundered against him. Tom Cooper slogged his third ball to mid-on, affording the opportunity to prey upon Roelof van der Merwe who was promoted to No. 3.It did not work out for van der Merwe. Twice, he slogged Dockrell's left-arm spin to the legside. Kevin O'Brien spilled the first - a slice to long-off and a grimace from O'Brien as he landed heavily, but van der Merwe's next attempt was entirely bungled and he fell off the cue end at short third man.The coup de grace came in Dockrell's second over when his turn outdid Wesley Barresi as he came down the pitch, leaving Niall O'Brien with a simple stumping.Stephan Myburgh was dropped on 9 by Paul Stirling at deep midwicket but was still restrict to 27 from 18 balls. When he was run out against the penultimate ball, the damage had been limited. Dockrell bowled only one ball at him - the first ball of his spell - and got away with a leg bye off his waist.Stirling addressed Ireland's chase when he twice walked across his stumps in Tim van der Gugten's first over to flick him over fine leg for six. But Seelaar's thrilling intervention changed the complexion of the game and Stirling fell to the next ball, his ramp shot was collected at third man.At 28.3 off 2.3, Ireland had opportunity even in a six-over game for a settling period, but their plight worsened when Gary Wilson and Stuart Poynter departed against van der Merwe within three balls - Wilson falling to a reverse sweep, Poynton skying a rustic slog.With 25 needed from two, and only five wickets remaining, Netherlands were suddenly favourites. A fine penultimate over from Mudassar Bukhari meant 20 were needed off the last. They never got close.
 Ireland captain William Porterfield won the toss and opted for bowling first against Netherland in a dead rubber of the first round group A match of the World Twenty20 here on Sunday.However, the play has been delayed due to interruption by rain. There was snow on the peaks and Ireland and Netherlands were feeling the chill.Ireland team is unchanged from the Bangladesh wash-out.Teams:Netherlands: Stephan Myburgh, Wesley Barresi (wk), Ben Cooper, Tom Cooper, Peter Borren (captain), Roelof van der Merwe, Pieter Seelaar, Mudassar Bukhari, Ahsan Malik, Timm van der Gugten, Paul van MeekerenIreland: William Porterfield (captain), Paul Stirling, Gary Wilson, Niall O'Brien (wk), Kevin O'Brien, Andrew Poynter, Andy McBrine, George Dockrell, Max Sorensen, Tim Murtagh, Boyd Rankin
 Pakistan captain Shahid Afridi on Sunday said that his players were happy to play in Kolkata as they have a good track record there.</strongSpeaking at a press conference at Kolkatta's Eden Gardens today, the flamboyant all-rounder said that his side was physically and mentally fit to play in India, and that they were pleased to play there."We have always enjoyed playing in India. People here always give us a lot of love," he said. "There are very few nations where I've enjoyed cricket as much as I've enjoyed cricket in India."He said despite the delay in arriving, the team was mentally prepared to travel to India for the World T20."Practice was going on. We were physically and mentally prepared that we'll definitely go (to India)," he� said.The Pakistan team arrived in Kolkatta amid tight security on Saturday evening.The team is scheduled to face Sri Lanka in their first warmup on Monday, and will kickstart their WT20 campaign on March 16 in Kolkata. The 2009 winners are scheduled to face rivals India at the same venue on March 19.Pakistan's fast bowler Wahab Riaz and all-rounder Shoaib Malik also spoke to media during the press conference.
 England beat Mumbai Cricket Association XI by 14 runs in their World Twenty20 warm up match here on Monday.There was no coin toss as it was already decided that England would bat first.England made 177 runs for eight wickets in their 20 overs as Joe Roots was the top scorer with 48 from 34 balls. He hit three fours and two sixes.Other prominent scorers were Alex Hales (37), Jason Roy (32) and Ben Stokes (30) while their captain Evoin Morgan was the only other batsman to get into the double figures.For Mumbai CA XI, left-arm fast bowler David Willey was the most successful bowler with three for 35 including a hat-trick with the wickets of Joe Root, Moeen Ali and Chris Jordan.Mumbai CA in reply, scored 163 for six with a half-century by opener Jay Bista.Bista made 51 off 37 balls with five fours and two sixes while James Vince scored 45 from 38 balls with four boundaries and a six. Jos Buttler hit 25.Pacers Jos Taylor and Chris Jordan claimed two wickets each while fast bowler Liamm Plunkett took one wicket.
 Pakistan defeated Sri Lanka by 15 runs in their World Twenty20 warm up here at Eden Gardens on Monday.Batting first after they won the toss, Pakistan scored 157 runs for five wickets and later restricted Sri Lanka to 142 for nine.Left-arm spinner Imad Wasim captured four wickets for 25 while left-arm fast bowler Mohammad Irfan claimed two for 18.Left-arm fast bowler Wahab Riaz got one wicket while other left-arm fast bowler Mohammad Amer could not take any wicket conceding 20 runs in four overs and captain Shahid Afridi after getting a first-ball duck also failed to get any wicket giving away 35 runs in four overs.Earlier, Mohammad Hafeez notched an unbeaten 70 off 49 balls with nine fours and a six after his captain Shahid Afridi won the toss and decided to bat.
 Pakistan made 157 runs for the loss of five wickets in their warm-up match against Sri Lanka in preparations of the World Cup Twenty20.Mohammad Hafeez notched an unbeaten 70 off 49 balls with nine fours and a six after his captain Shahid Afridi won the toss and decided to bat first here at Eden Gardens on Monday.No other batsman could make any significant contribution as the second highest score was 23, by opener Sharjeel Khan while Afridi fell for a first-ball duck.Umar Akmal (19), Ahmed Shehzad (18) and Sarfraz Ahmed (13) were the other scorers with Imad Wasim, who was two not out.Paceer Thisara Perera was the most successful bowler for Sri Lanka, claiming two wickets for 21runs.
 Pakistan won the toss and decided to bat first against Sri Lanka in their warm-up match on Monday.</strongTeams:Pakistan: Sharjeel Khan, Ahmed Shehzad, Mohammad Hafeez, Sarfraz Ahmed, Khalid Latif, Mohammad Amir, Anwar Ali, Mohammad Irfan, Imad Wasim, Mohammad Sami, Shahid Afridi (Captain)Sri Lanka: AD Mathews (captain) , PVD Chameera, LD Chandimal, TM Dilshan, HMRKB Herath, DSNFG Jayasuriya, CK Kapugedera, KMDN Kulasekara, RAS Lakmal, SL Malinga, NLTC Perera.
 Pakistan Twenty20 skipper Shahid Khan Afridi has been served legal notice over his remarks about getting more love in India.</strongThe legal notice has been served by a local advocate from Lahore.Afridi said on Sunday, "We have always enjoyed playing in India. People here always give us a lot of love," he said. "There are very few nations where I've enjoyed cricket as much as I've enjoyed cricket in India.""We got a lot of love here, we did not get this much love even in Pakistan, I can tell you. We always enjoyed playing here."Also Read:�<span style="color: #0000ff;"><a href="http://www.thenews.com.pk/latest/104943-Pakistan-team-physically-mentally-fit-to-play-in-India-says-Afridi" style="color: #0000ff;">We have always enjoyed playing in India</a></spanAccording to the notice, the remarks made by Afridi were against the interest of Pakistan, therefore, he should apologize to nation and withdraw his statement.
strong>Top seed Serena Williams turned an early challenge into an eventual cakewalk as she beat Russian-born Yulia Putintseva 7-6(2) 6-0 in the third round of the BNP Paribas Open in California on Sunday.</strongAs boxing great Mike Tyson watched on, Williams punched below her weight in the first set, during which she made 29 unforced errors and had to break Putinsteva�s service to force a tiebreak.The second set was not a fair fight, with business as usual resumed as Williams overwhelmed her opponent."I started to get more confidence to continue to go for it,� Williams told reporters, referring to her strong finish.The 34-year-old American ended with seven aces and moved closer to her first title at Indian Wells since her infamous win in 2001, after which she boycotted the event until finally returning last year.Serena was booed throughout the 2001 final by a crowd that assigned her the blame for the withdrawal by her sister Venus before their scheduled semi-final.While Williams got a good workout on Sunday, world number three Agnieszka Radwanska of Poland barely raised a sweat as she continued her bid for a first Indian Wells crown by beating Monica Niculescu 6-2 6-1.Radwanska reached the final in 2014, when she lost to Italy�s Flavia Pennetta, a result she uses as motivation."I really want to have (this) trophy at my home," Radwanska told reporters. "This is one of the biggest tournaments (on tour). So this is another year to try."Eighth seed Petra Kvitova outlasted Johanna Larsson 6-3 4-6 7-5 in a match that lasted more than two hours, while last year�s runner-up Jelena Jankovic dispatched Coco Vandeweghe 6-0- 6-1.On the men�s side, Kei Nishikori cruised past Mikhail Kukushkin 6-3 6-3.The Japanese player needed just 70 minutes as he converted four of his five break points and improved his record at a tournament that has not been kind to him.�I've never done well in Indian Wells but I'm becoming better feeling, so should be good this year,� he said. �I'm not the biggest server on the tour, so I try to mix it up, try not to panic, stay relaxed and focused.�Frenchmen Jo-Wilfried Tsonga and Gilles Simon both advanced with victories, as did Spain�s Feliciano Lopez. German 18-year-old Alexander Zverev knocked off 23rd seed Grigor Dimitrov 6-4 3-6 7-5.
 New Zealand Women began their World T20 campaign with an easy seven-wicket win after a late collapse restricted Sri Lanka Women to 110 for 8 in Delhi.Sri Lanka won the toss and chose to bat, and their opening pair of Chamari Atapattu and Yasoda Mendis stitched together a 39-run partnership.Mendis and Dilani Manodara built on that base, taking Sri Lanka to a promising position of 82 for 1 by the 13th over.The loss of Mendis to Amy Satterthwaite, however, sparked off a slide that undid the work of the top order.Manodara fell in the 15th over, after top-scoring with a 31-ball 37, and her wicket meant that the impetus Sri Lanka needed in the final leg of the innings did not materialize.They scraped a mere 23 runs off their last six overs for the loss of six wickets.�Offspinner Leigh Kasperek took 2 for 19 but Sri Lanka also lost as many as three batsmen - including Manodara and captain Shashikala Siriwardene - to run-outs.New Zealand's chase of 111 was clinical, despite a minor blip when they lost three wickets in as many overs.The openers, Suzie Bates and Rachel Priest, gave them early control adding 64 in the first 10 overs.Sara McGlashan and Satterthwaite then struck a flurry of boundaries to take New Zealand home with 25 balls to spare.��
 New Zealand spin trio demolished the batting power house of India to record a 47-run victory in the opening match of the World Twenty20 Super 10 here at the Vidarbha Cricket Association Stadium on Tuesday night.Chasing an easy target of 127, India were bundled out for a mere 79 in 18.1 overs. All their batsmen failed to get into runs except captain Mahindra Singh Dhoni (30) and Virat Kohli (23) showed some resistance against the Kiwi spinners while Ravichandran Ashwin (10) was the only other batsman to get into the double figures.Left-arm spinner Mitchell Santner captured four wickets for 11, his career best bowling figures, while leg-spinner Ish Sodhi bagged three for 18 and off-spinner Nathan McCullum claimed two for 15.Earlier, Corey Anderson top scored for New Zealand with 34 but it was Luke Ronchi�s (21 not out) 11-ball cameo that took them to a modest 126-7 after captain Kane Williamson won the toss and decided to bat first.Williamson read this pitch perfectly. He had the guts to leave out Boult, Southee and McClenaghan on this pitch and play Sodhi, Nathan McCullum and Santner, who beat India at their own game to give them a humbling defeat.This was India�s second lowest total in a T20 International as their record remains at 74 against Australia at Melbourne in 2008.India remain winless in T20 internationals against New Zealand, having lost five in five. New Zealand are the only side to whom India could not beat so far. �
 New Zealand�s spin-heavy attack will have their work cut out as they set India a 127-run victory target in the first Super 10 match of the World Twenty20 at Nagpur�s VCA Stadium on Tuesday.The tournament proper got underway with Martin Guptill hitting the first delivery over bowler Ravichandran Ashwin�s head for a six but New Zealand slumped to 35-3 in the seventh over after opting to bat first in the Group Two contest.Corey Anderson top scored for New Zealand with 34 but it was Luke Ronchi�s (21 not out) 11-ball cameo that took them to a modest 126-7.New Zealand included three specialist spinners -- Nathan McCullum, Ish Sodhi and Mitchell Santner -- in their squad on a track that offered significant turn.
 Experienced India women defeated Bangladesh by 72 runs in a one-sided opening match of the Women�s World Twenty20 here at the M Chinnaswami Stadium on Tuesday.Chasing a huge total of 164, Bangladesh women could not resist against India�s� off-spinner Anuja Patil and leg-spinner Poonam Yadav, who restricted them to 91 for five in their 20 overs. Both bowlers took two wickets each for 16 and 17, respectively.Bangladesh women�s main scorers were Nigar Sultana (27 not out) and Sharmin Khan (21).Earlier, India women blasted their way to 163 for 5, comfortably surpassing their previous T20I best of 151, also against Bangladesh at the 2014 edition.Mithali Raj (42) and Vellaswamy Vanitha (38) did the early running, Harmanpreet Kaur (40) gave impetus in the middle, while Veda Krishnamurthy sustained the surge at the death and remained not out on 36.For Bangladesh, Fahima Khatoon and Rumana Ahmed claimed two wickets each.
 New Zealand captain Kane Williamson won the toss and elected to bat first against India in the opening match of the Super 10 Group 2 in the World Twenty20 here at the Vidarbha Cricket Association Stadium on Tuesday.New Zealand left out their two best fast bowlers Trent Boult and Tim Southee to accommodate three spinners - Nathan McCullum, Mitchell Santner and Ish Sodhi.India are stuck to the same XI that won the Asia Cup a week ago. Jasprit Bumrah makes his World T20 debut.New Zealand players are wearing black armbands in respect to their former captain Martin Crowe, who has recently passed away.Teams:India:Rohit Sharma, Shikhar Dhawan, Virat Kohli, Suresh Raina, Yuvraj Singh, Hardik Pandva, Mahindra Singh Dhoni (captain &amp; wk), Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Ashish Nehra<br/>�<br/>New Zealand:Martin Guptill, Kane Williamson (captain), Colin Munro, Ross Taylor, Corey Anderson, Grant Elliott, Mitchell Santner, Luke Ronchi (wk), Nathan McCullum, Adam Milne, Ish Sodhi�
 The Cricket Association of Bengal (CAB) on Monday confirmed that they are planning to felicitate eight legendary cricketers from India and Pakistan ahead of the two sides locking horns in a World Twenty20 group encounter on March 19.Sunil Gavaskar, Sachin Tendulkar, Rahul Dravid, Kapil Dev, Imran Khan, Waqar Younis, Wasim Akram and Intikhab Alam would be handed over mementoes prior to the start of the high�voltage game that is expected to draw huge crowds at the iconic Eden Gardens, Cricket country reported.�We plan to felicitate four legends each from India and Pakistan.<br/> We will be giving them mementoes at around 6 in the evening just before the start of the game,� a senior CAB official informed.The tickets for the much�awaited clash are in hot demand and Eden is expected to be filled to capacity for the clash.Speaking about the premier clash between the two neighbours, the official said: �We are likely to distribute the tickets from March 15 or 16. It all depends on the CAB President Sourav Ganguly as to how he distributes them. But it will be a full house no doubt�.
 The build�up to the high�voltage clash between India and Pakistan in ICC World Twenty20 has got even bigger with Pakistani singer Shafqat Amanat Ali and Bollywood superstar Amitabh Bachchan being confirmed to sing national anthems of their countries before the start of the match, Indian media reported.They will give this performance at Kolkata�s Eden Gardens on March 19 when the arch rivals will clash in the much-anticipated ICC World Twenty20 International match.��Amitabh Bachan will sing India�s national anthem while Shafqat Amanat Ali Khan will sing Pakistan�s national anthem,� confirmed an official from the Cricket Association of Bengal.The match has already created lot of buzz before the tournament started and being held at the famous Eden Gardens, there is a lot of excitement among the fans from both the countries.The match was earlier scheduled to be played at Dharamsala but later the venue was shifted to Kolkata due to security reasons.
 New Zealand are bracing for a trial by spin when they open their World Twenty20 campaign against hosts India on Tuesday, skipper Kane Williamson said on the eve of their Super 10 fixture.</strongThe Indian team have been widely touted as firm favourites to win the biennial event due to their knowledge about the conditions at home and a strong run of form in the buildup to the tournament.New Zealand, though, have defeated India in all their previous four meetings in the shortest format of the game but their progress was somewhat thwarted against England's spinners on Saturday in their warm-up match."We certainly are expecting spin to pay a big part in this tournament," Williamson told reporters on Monday, adding their past record against India would have no bearing on the match."I suppose judging by the warm-up games in Mumbai, they had a bit for the seamers and it swung a little bit."They were very good surfaces but from what cricket we have seen here in Nagpur, spin looks likely to play a big part. It's important that we adjust our gameplan accordingly."Off-spinner Ravichandran Ashwin will lead India's slow bowling attack along with Ravindra Jadeja while part-timer Yuvraj Singh and Suresh Raina are also expected to chip in.New Zealand arrived at the tournament after a preparatory camp in Dubai, having played a two-test home series against Australia, during which former captain Brendon McCullum retired from international cricket.Williamson was confident there would not be any problems making the switch to the 20-over format."We go into the match tomorrow with a clean slate. India is a strong side and Twenty20 cricket is fickle in nature," Williamson said.India, who won the 50-over World Cup at home in 2011, defeated Australia and Sri Lanka in bilateral series before winning the Asia Cup in Bangladesh, a run that saw them win 10 of their last 11 T20 matches.Batting stalwart Virat Kohli was confident the team can handle the burden of expectations."At home we expect that, we're prepared for that," Kohli said. "The skill required is how you manage yourself off the field, because on the field is probably the safest and quietest for you, especially in your home country."The field is where you face the least pressure in big tournaments like this."We're taking some good momentum into the World Cup. The Asia Cup was a good preparation for us, getting a feel of playing against big teams. This is far more challenging, with teams from all over the world."
 A three-wicket haul from off-spinner Anisa Mohammed guided West Indies Women to a narrow four-run victory against Pakistan Women in Chennai.Chasing a seemingly small target of 104, Pakistan were dealt a serious blow early in their innings when the opener Javeria Khan was struck below her ear in the first over off a bouncer from Shamilia Connell. Javeria was immediately stretchered off the field and taken to a nearby hospital. Javeria underwent a CT scan, and is understood to now be conscious.Sidra Ameen and Bismah Maroof steadied the innings with a patient 40-run stand, but three quick blows from Mohammed swung the contest decisively West Indies way. First, Mohammed removed Ameed in the ninth over before proceeding to dismiss both Aliya Riyaz and Maroof in the 11th. It left Pakistan needing 60 off the last 56 balls, but the momentum was in West Indies' hands. Muneeba Ali (15), Sana Mir (18) and Asmavia Iqbal (19) all chipped in with handy knocks to keep Pakistan in sight of the target, but their slow run-rate left the team needing 12 off the final over, bowled by Deandra Dottin.Dottin conceded three off the first ball, but Pakistan failed to find the boundaries - the team managed just five in their entire innings - as West Indies hung on to open their account. Mohammed ended with figures of 4-1-25-3.Earlier, Anam Amin picked up 4 for 16 to wreck West Indies' top and middle order and keep the team to 103 for 8. West Indies' captain Stafanie Taylor top-scored with 40, while Hayley Matthews and Merissa Aguilleira provided 15 runs each. Taylor stoked five boundaries during her 49-ball knock; the rest of the team combined managed just one.�
 Chris Gayle, at 36, knows that he could be playing his last World Twenty20 and, judging by the manner in which he pulverised England at the Wankhede, he intends to go out in style.England's bowlers began the night fretting about the dew, and ended it drenched to the skin by the sight of Gayle raining sixes into the sky.Nobody has hit as many sixes in a World T20 innings as the 11 that Gayle despatched in Mumbai, breaking his own record of 10 against South Africa in Johannesburg in 2007 - his only previous T20I hundred.Seven flew down the ground, the other four further along the leg-side arc and apart from a leap from Joe Root in a failed attempt to intercept the one that brought up his 50, all England's fielders could do was watch.�
 West Indies captain Darren Sammy won the toss and elected to bowl first against England in the World Twenty20 Super 10 Group 1 match here at the Wankhede Stadium on Wednesday night.West Indes have gone with two spinners, leaving out Jason Holder, and England included David Willey in place of Plunkett.Teams:England: Jason Roy, Alex Hales, Joe Root, Eoin Morgan (captain), Jos Buttler, Ben Stokes, Moeen Ali, Adil Rashid, David Willey, Chris Jordan, Reece TopleyWest Indies: Chris Gayle, Johnson Charles, Marlon Samuels, Dwayne Bravo, Denesh Ramdin (wk), Andre Russell, Darren Sammy (captain), Carlos Brathwaite, Samuel Badree, Jerome Taylor, Sulieman Benn.�
 Pakistan began their World Twenty20 campaign defeating Bangladesh by 55 runs in Group Two Super 10 match here at the Eden Gardens on Wednesday.Chasing a mammoth total of 202, Bangladesh could score 146 for six with the help of a brilliant half-century by Shakib Al Hasan, who remained not out on exact 50.He also became the second Bangladeshi batsman after Tamim Iqbal to cross 1,000-run mark in T20 Internationals. �Other scorers were Sabbir Rehman (25), Tamim Iqbal (24), Mushfiqur Rahim (18) while captain Mashrafe Mortaza was 18 not out.Left-arm fast bowler Mohammad Amir and leg-spinner Shahid Afridi claimed two wickets for 27 runs each while left-arm spinner Imad Wasim and left-arm fast bowler Mohammad Irfan took one wicket each.Earlier, Pakistan piled up a huge total of 201 runs for five as Mohammad Hafeez and Ahmed Shehzad struck half centuries and skipper Shahid Afridi came up with a breezy cameo to guide their team to set a difficult target for the Tigers.Opting to bat first, Pakistan lost opener Sharjeel Khan (18) cheaply but Hafeez (64) and Shehzad (52) added 95 runs to lay the foundation for a 200-plus total.Shahid Afridi promoted himself up the batting order to number four and smashed �four sixes and as many fours in his 19-ball 49 before falling in the final over.Bangladesh�s left-arm spinner Arafat Sunny, who was reported for a suspect bowling action earlier in the tournament, claimed 2-34.This was for the second time that Pakistan crossed 200-run mark in a T20 International. Earlier, they had scored 203 for five, also against Bangladesh at Karachi in 2008.Pakistan will play their next match on March 19 against the arch rivals India at the same venue.�����������������������������������������������������������������������������
 �Pakistan batsmen dominated the Bangladesh bowlers to pile up a huge total of 201 runs for five in their 20 overs against Bangladesh when they began their World Twenty20 campaign in the Group Two Super 10 stage at the crowded Eden Gardens on Wednesday.Mohammad Hafeez and Ahmed Shehzad struck half centuries and skipper Shahid Afridi came up with a breezy cameo to guide their team to set a difficult target for the Tigers.Opting to bat first, Pakistan lost opener Sharjeel Khan (18) cheaply but Hafeez (64) and Shehzad (52) added 95 runs to lay the foundation for a 200-plus total.Shahid Afridi promoted himself up the batting order to number four and smashed �four sixes and as many fours in his 19-ball 49 before falling in the final over.Bangladesh�s left-arm spinner Arafat Sunny, who was reported for a suspect bowling action earlier in the tournament, claimed 2-34 but it was otherwise a forgettable outing for their bowling attack.This was for the second time that Pakistan crossed 200-run mark in a T20 International. Earlier, they had scored 203 for five, also against Bangladesh at Karachi in 2008.
 Pakistan won the toss and elected to bat first against Bangladesh in their opening match of the ICC World Twenty20 championship at Eden Gardens on Wednesday.</strongBangladesh remain without Mustafizur Rahman, but brought in left-arm spinner Arafat Sunny to replace Abu Hider.Pakistan brought in Ahmed Shehzad straight into the XI after he was drafted into the squad for the World T20. They left out pace bowler Anwar Ali, batsman Khalid Latif, left-arm spinner Mohammad Nawaz and pacer Mohammad Sami.Bangladesh, who beat Pakistan by five wickets in the recently-concluded Asia Cup, qualified for the Super 10s after topping Group A in the first round of the World T20. They remained unbeaten, beating Netherlands and Oman while the match against Ireland was washed out.Bangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Mushfiqur Rahim, Shakib Al Hasan, Mahmudullah, Mohammad Mithun, Mashrafe Mortaza (captain), Al-Amin Hossain, Arafat Sunny, Taskin AhmedPakistan: Sharjeel Khan, Ahmed Shehzad, Mohammad Hafeez, Sarfraz Ahmed (wk), Shoaib Malik, Umar Akmal, Shahid Afridi (captain), Imad Wasim, Mohammad Amir Wahab Riaz, Mohammad Irfan�
By Faizan Lakhani�strong>With a clear statistical edge over Bangladesh, Pakistan cricket team is set to launch its World T20 mission with the aim of improving their record against Bangladeshis on Wednesday.</strongThe current form may not be in Pakistan�s favour as they have lost last two of their 9 T20Is against Bangladesh, but they�ve won all the 7 games played before the last two.Pakistan�s Shahid Afridi is the only player to have played all Pakistan vs Bangladesh T20Is, scoring 132 runs with an average of 16.50 and taking 8 wickets at an average of 26.Talking about recent form, Pakistan have won only three of its last 10 Twenty20 internationals, while Bangladesh came out successful in six of its last 10 completed T20Is.This will be the 5th time that Pakistan and Bangladesh face each other in a World T20 match, jointly most by a pair of opponents along with the opposing pair of Sri Lanka and West Indies.Pakistan has an unbeaten run against Bangladesh in World T20 competitions, the men in green have won all previous World T20 games against Bangladesh (in 2007, 2010, 2012 and 2014)Among the batsmen from both the teams, Shakib Al Hassan is leading scorer in all Pakistan vs Bangladesh games, with 242 runs in 8 innings. Pakistan�s Shoaib Malik added 135 T20I runs to his tally of runs from 7 games against Bangladesh.In bowling, Pakistan�s Shahid Afridi is leading wicket taker in all matches, having 8 wickets to his credit in 9 games. Abdul Razzak of Bangladesh has grabbed 7 wickets in 7 games against Pakistan.Tamim Iqbal of Bangladesh is the leading run scorer from the qualifying stage of WorldT20 this year, with 233 runs off 147 balls and being dismissed just once in three innings.
 Champions Sri Lanka beat qualifiers Afghanistan by six wickets in their first Super 10 Group One match of the World Twenty20 in Kolkata on Thursday.</strongOpting to bat first, Afghanistan overcame a slow start to post 153-7 and Sri Lanka romped home in 18.5 overs with Tillakaratne Dilshan top scoring with an unbeaten 83.�
 �Afghanistan skipper Asghar Stanikzai hit a career-best 62 to help the qualifiers post 153 for seven in their first Super 10 stage match of the World Twenty20 against champions Sri Lanka on Thursday.</strongStanikzai won the toss and opted to bat first on a slow wicket at Eden Gardens but his team struggled to get going before accelerating towards the end of their innings.The Afghan captain hit four sixes and three fours in his 47-ball knock before falling in the penultimate over. Samiullah Shenwari (31) chipped in with a 14-ball cameo while Thisara Perera (3-33) was the pick of the Sri Lankan bowlers.���
� Afghanistan captain Asghar Stanikzai won the toss and decided to bat against defending champions Sri Lanka in their first Super 10 stage match of the World Twenty20 on Thursday.</strong"The wicket is slow and may break up after our innings," said Stanikzai, referring to a dry track at Eden Gardens.Afghanistan came through a difficult qualifying schedule and the skipper said the experience would stand them in good stead.Sri Lanka captain Angelo Mathews said he did not mind chasing a target and denied being under pressure."We are coming in as the underdogs probably, no pressure at all," the all-rounder added."We want to have a bit of fun and enjoy the contest," said Mathews before explaining that his team needed to shed their inconsistency in all departments of the game.�
strong>South Africa fast bowler Dale Steyn has sounded a warning to batsmen at the World Twenty20 in India as he prepares to get his side�s campaign off to a positive start against England in Mumbai on Friday.</strongSteyn recently returned to the South Africa side after an injury-plagued season that he says has only increase his resolve to help his side to an elusive major one-day trophy.Following a 2-0 home Twenty20 series victory over England last month, the South Africans are brimming with confidence.�I don�t want to say that we have the upper hand but we have beaten them (England) in the shorter format and they do know it. I�m fit and strong to play,� Steyn told reporters in Mumbai on Wednesday.Steyn, who returned to action this month against Australia after groin and shoulder problems, has seen an improvement in South Africa�s limited-overs bowling attack which also includes seamers Kagiso Rabada, Kyle Abbott and Chris Morris.�When I walked into the side for the Australia series I could see the guys were glowing with confidence,� Steyn said.�I was watching guys who normally sit on the side lines like Kyle Abbott landing their yorkers and slower balls.�It was great to be out of the side because when I walked back in I realised how much I had missed it and how much these guys have grown as a team, even in that two month gap.�South Africa play their opening two World Twenty20 matches against England and Afghanistan in the seam-friendly conditions of the Wankhede Stadium in MumbaiThey then take on West Indies at the VCA Stadium in Nagpur, which produced a rank turner in the game between India and New Zealand on Tuesday.�I�ve always said that I can bowl on any track,� Steyn said.�I prefer the wickets that are slower and turning. The ball stops and makes it tough for batsmen to hit you out of the ground, especially at a ground like Nagpur which is a big ground.�As a seamer I back myself. I can bowl fast cutters, it�s difficult to hit the ball out of the ground when it�s coming at 140 or 145 and is gripping and stopping.�
 to keep minds focused on bat and ball, to tune out the crowds and the last-minute venue changes and the razzmatazz of the build-up. As Virat Kohli said before the start of the tournament, "On the field is the safest and quietest place for you". And until they actually get on the field, the match will live a parallel existence that has little to do with the actual cricket. It might as well be a football game where Mohammad Irfan and a magically young-again Venkatesh Prasad are goalkeepers in a penalty shootout.
 Australia began their title defence with a six-wicket win against South Africa at the VCA Stadium in Nagpur. It was vice-captain Alex Blackwell and captain Meg Lanning who led the way to chase down 103 easily in the end, after they were reduced to 9 for 3 in the fourth over.South Africa had an excellent launch pad at 69 without loss in 12 overs after opting to bat. Then they fell into a crater courtesy rush of blood, indecision against spin and a number of misguided strokes to huff and puff to 102 for 6. As hard as they tried, defending it was never going to be easy against the masters of the big occasion who are gunning for their fourth successive title.Eventually, the batting meltdown played a big part in the result, as Lanning and Blackwell allayed fears with an unbroken 52-run fifth-wicket stand off just 38 balls to see Australia home with nine balls to spare.South Africa showed they were up for a fight as Dane van Niekerk did the early running by making 45 in a 72-run opening stand with Trisha Chetty, before Australia strangulated them.While Ellyse Perry hustled the batsmen with pace, Lauren Cheatle's canny variations resulted in South Africa's middle order having to manufacture strokes that didn't connect. Chetty's scratchy 34 eventually helped them cross the 100-run mark.Australia's thoughts of the chase being a walk in the park were firmly put on the backburner. Alyssa Healy walked across to flick, only to find her leg stump flattened to give the fired-up Shabnim Ismail an early sniff. Perry bottom-edged a cut to the wicketkeeper, while Ellyse Villani chopped on to leave Australia in tatters before they could reach double figures.Lanning's illness that kept her off the field for most parts of South Africa's innings meant she could come in either after 30 minutes or the fall of the fifth wicket. But the conclusion of Ismail's opening burst took with it the sting in their attack as Blackwell and Jess Jonassen added 44 for the fourth wicket. When Jonassen stepped out to be stumped, the game was back in the balance as Australia slipped to 53 for 4, needing 50 off 47 balls.Lanning struggled to run as she helped herself to three fours to bring the equation down to 23 off the last four overs. Once within striking distance, the feared white-ball striker in her surfaced as she hit Ismail for two fierce square cuts, to convert a tricky chase into a cruise.��
 England defeated South Africa by two wickets in a high-scoring World Twenty20 Super Ten Group One match which yielded a total of 459 runs for the loss of 12 wickets in 39.4 overs here at the Wankhede Stadium on Friday night.Chasing a mammoth total of 230, England completed their first victory in the tournament with two balls remaining.England openers Jason Roy and Alex Hales laid the foundation of the win with a 48-run first wicket partnership and later Joe Root led the assault, guiding with an aggressive innings of 83 in 44 balls, laced with four towering sixes and six fours.When Root departed England needed only 11 runs from ten balls but they lost two more wickets in a bid to take the winning single.This was the second-highest successful chase in T20 internationals and the highest in World T20 history.South Africa�s pacers Kyle Abbott and Kagiso Rabada claimed three and two wickets but conceded 41 and 50 runs, respectively.Earlier, three brilliant half-centuries from Hashim Amla, Quinton de Kock and Jean-Paul Duminy helped South Africa post 229 for four.Amla made 58 off 31 balls and de Kock scored 52 off 24 balls, both hitting three sixes and seven fours each. Both made together 96 runs off just 43 balls.Later, Duminy played an unbeaten innings of 54 from 28 balls with three sixes and as many fours along with David Miller, who remained not out on 28, made off just 12 balls with two fours and two sixes.�
 The brilliant half-centuries from Hashim Amla, Quinton de Kock and Jean-Paul Duminy helped South Africa to set a massive target of 230 for England in the World Twenty20 Super Ten Group 1 match here on Friday.After England captain Eoin Morgan won the toss and decided to bowl first, South Africa openers Amla and de Kock blasted together 96 runs off just 43 balls to lay a foundation of a huge total.Amla made 58 off 31 balls and de Kock scored 52 off 24 balls, both hitting three sixes and seven fours each.However, captain Faf du Plesis and AB de Villiers could contribute only 17 and �16, respectively.Later, Duminy played an unbeaten innings of 54 from 28 balls with three sixes and as many fours along with David Miller, who remained not out on 28, made off just 12 balls with two fours and two sixes.Both added 60 runs for the unbeaten fifth wicket partnership to take their team to 229-4 in 20 overs, the sixth highest total by any team and South Africa�s second in T20 Internationals.For England, off-spinner Moeen Ali claimed two wickets while leg-spinner Adil Rashid and left-arm pacer David Willey took one wicket each.
 �Former cricket stars on Friday pinned hopes on skipper Shahid Afridi to repeat his all-round skills for the second time when Pakistan take on traditional rivals India in the eagerly awaited clash of the World Twenty20 as the sun sets on the lush green Eden Gardens of Kolkata.</strongThe former cricket greats believed the flamboyant all rounder Shahid Afridi could play a key role in national team�s win against their arch foes.Afridi, who has been under fire after Pakistan s poor performance in the Asia Cup T20, played superbly both with the bat and ball in national team�s win against Bangladesh in their opening match of ongoing T20 World Cup on Wednesday.Batting legend Javed Miandad said he wants Afridi to repeat his heroics of Bangladesh match when time comes for Saturday�s encounter.�Afridi has to bat up in the order. He must get maximum over s. He can be a terror�, Miandad said.The former cricket great also praised Kolkata crowd, stating Kolkata has only sports loving people.�They are passionate. Sports should not be a war as the world makes fun of us (when we behave this way)� Miandad added.Former superstar Wasim Akram said that Pakistan would psychologically be in a better frame of mind in the match against India.�Pakistan are going to the game after a convincing win in their opening match. �So psychologically they will have an edge over Indians as they suffered defeat in their first match against �New Zealand,� Wasim said.He also asked Pakistan team to adopt an attacking strategy against Indians. �If Pakistan manage to get a couple of wickets in the power play session, they will be in a position to push India to the back foot,� the former captain said.Former Test Captain Aamir Sohail says bowlers would have to work hard in the high profile World Twenty20 encounter.�If India wins the toss and bats first, our bowlers will have to take early wickets in order to restrict the Indian batsmen to a low total.�But if our batsmen are put to bat first, then they will have to take the responsibility and show some real performance like they did in the match against Bangladesh,� said he.Sohail said: �In case India prepares a flat pitch, Pakistan will have an edge over the arch rivals.But if they prepare a turning pitch, then India will have an upper hand�Test Skipper Misbah ul Haq said Pakistan could �win the WorldTwenty20, if Shahid Afridi performs consistently in the whole tournament.Afridi needs to fire constantly if Pakistan wants to salvage a chance of clinching the title once again.�If Afridi keeps going like this, Pakistan can win the World T20,� he said.��
 Suzie Bates' swift 60-ball 82 and her 104-run partnership with Sophie Devine for the second wicket set the base for New Zealand Women's massive 93-run win over Ireland Women in the World T20 match in Mohali.New Zealand got off to a blistering start after opting to bat, as opener Rachel Priest struck three fours in the first over before falling to medium-pacer Amy Kenealy in the second over.The wicket brought Bates and Devine together at the crease, and the pair built on the early momentum in their century stand. By the end of the Powerplay, New Zealand were 48 for one and except for a couple of quiet overs, the pair found the boundary with ease.Devine fell in the 15th over to Isobel Joyce, after a 34-ball 47, and Bates then propelled the score past 150.The New Zealand captain struck two successive sixes off Kim Garth in the penultimate over before falling for 82; her knock also included seven fours.She became the fourth player to score more than 2000 runs in women's T20I cricket and is second on the list of highest run-getters with 2063 runs, ahead of Sarah Taylor and Stafanie Taylor.Ireland's chase simply failed to get off the blocks. They lost two wickets within the first four overs for a score of 16 and by the tenth over had reached only 34 for 3.The required run rate was already more than 14 by that stage and it was only Joyce who showed some resistance with a 33-ball 28, the top score in an Ireland innings that eventually petered out to 84 for 5.Offspinner Leigh Kasperek had economical returns of 1-10 in her four overs while legspinner Erin Bermingham took 2 for 17.�
 England captain Eoin Morgan won the toss and elected to field against South Africa in the world Twenty Super Ten Group One match here at the Wankhede Stadium on Friday night.Despite losing to West Indies two days ago, England decided to stick with the same eleven whereas South Africa are playing their first match in the event..Teams:England: Jason Roy, Alex Hales, Joe Root, Jos Buttler (wk), Eoin Morgan (captain), Ben Stokes, Moeen Ali, Chris Jordan, Adil Rashid, David Willey, Reece Topley.South Africa: Hashim Amla, Quinton de Kock, Faf du Plessis (captain), AB de Villiers (wk), JP Duminy, David Miller, Chris Morris, Kyle Abbott, Dale Steyn, Kagiso Rabada, Imran Tahir.- <br/>�
 �New Zealand held their nerve to edge out Australia by eight runs in a tense World Twenty20 Group Two match on Friday and move closer to a place in the semi-finals.On a high after beating hosts India in their opening game, New Zealand posted a modest 142-8 before defending the total with disciplined bowling and tight fielding against their trans-Tasman rivals.Australia came into the tournament with an embarrassment of top-order riches and decided to open with Usman Khawaja and Shane Watson.The decision meant no place for Aaron Finch, who was captain of the side barely six weeks ago and is the top-ranked batsman in this format of the game.Khawaja (38) added 44 runs with Shane Watson (13) before Australia suffered a collapse to slump to 66-4 at the halfway mark of their innings.Glenn Maxwell (22) and Mitchell Marsh (24) tried their best but Australia kept losing wickets at regular intervals and needed 19 runs off the final over sent down by Corey Anderson.Anderson dismissed James Faulkner with the first ball to dash Australia's slender hopes of a narrow win as New Zealand rose to the top of the group table.Mitchell McClenaghan justified his selection at the cost of off-spinner Nathan McCullum, claiming figures of 3-17.Earlier, Martin Guptill (39) gave New Zealand a flying start in a 61-run opening stand with skipper Kane Williamson (24) who decided to bat first on a dry track at the picturesque stadium in the north Indian hill station.Guptill greeted Aston Agar by hitting his first two balls out of the ground and a third six off the final ball of the over but Maxwell did an excellent job taking a catch in the deep to send back the dangerous Guptill, then dismissing Williamson with his second delivery and sending back Anderson in his next over.Later, he took another catch to dismiss Luke Ronchi and fired in a bullet throw to run out Mitchell Santner.Grant Elliot struck a quickfire 27 down the order but New Zealand managed only 84 runs in the last 14 overs.<br/> �
 Sri Lanka�s World Twenty20 title defence suffered a huge blow after fast bowler Lasith Malinga was ruled out of the tournament due to a knee injury, the team said on Friday.</strongMalinga was forced to hand over the captaincy to Angelo Mathews last week due to a slow recovery from the injury and missed the Super 10 opener against Afghanistan on Thursday."Malinga�s knee injury flared up before the match against Afghanistan yesterday," a team spokesperson said."He has been ruled out of the World Cup and has flown back to Sri Lanka this afternoon."The 32-year-old paceman with blond-tinted hair and an unorthodox action is not quite the same player who was a key figure in Sri Lanka�s progress to three World Twenty20 finals in the last four tournaments.He was, however, considered key to their success in India, where he has performed admirably in the Indian Premier League."Sri Lanka team management on tour have observed that Malinga whose niggling injury has been flaring up would be better off resting it, and have recommended he return to Colombo," Sri Lanka Cricket said in a statement.The selectors will choose Malinga�s replacement after practice matches between the remaining players in the World T20 squad to be played in Colombo later on Friday.Sri Lanka will take on 2012 champions West Indies in their second Group One match in Bangalore on Sunday.
 New Zealand failed to make the most of a strong start and posted a competitive 142-8 against Australia in their World Twenty20 Super 10 stage match in Dharamsala on Friday.</strongAfter Kane Williamson (24) won the toss and opted to bat, Martin Guptill (39) and the Kiwi skipper added 61 runs in seven overs to lay the foundation for a big total in the Group Two match.Australia, who used seven bowlers, bowled and fielded with a lot of discipline, however, to restrict New Zealand to a sub-150 total with Glenn Maxwell and James Faulkner claiming two wickets each.Usman Khawaja and Shane Watson will open the innings for Australia who left former captain Aaron Finch out of the team.
 Pakistan cricket team head coach Waqar Younis has vowed to defeat India and change the course of history this time in their upcoming clash on March 19 in Kolkata.</strongAddressing a press conference, Waqar said, �India is under immense pressure and I am fully confident Pakistan will win the match and change the history.��If we play with the same spirit the players showed in the first match, Pakistan will win against India,� said the coach.He went on to say that Pakistan batsmen are in good form and the pace attack is also better as compared to India.
 New Zealand captain Kane Williamson won the toss and opted to bat first against Australia in their World Twenty20 Super 10 match at Dharamsala on Friday.</strongThe Kiwis are on a high after beating hosts India in their Group Two opener and a second win against their rivals will put them on course for a place in the semi-finals.After their brave gamble to pick three specialist spinners paid off against India, New Zealand decided to bolster the pace attack, dropping off-spinner Nathan McCullum to accommodate Mitchell McClenaghan."It�s nice to get a win early and hopefully we can make an adjustment again on a new wicket," captain Kane Williamson said.Australia captain Steven Smith said he too would have liked to bat first on a dry wicket at the Himachal Pradesh Cricket Association Stadium.Australia, who will hope to make a winning start to their bid for an elusive World Twenty20 title, have had a problem of plenty at the top of the batting order and Smith confirmed Usman Khawaja will open the innings with Shane Watson.Khawaja�s inclusion meant there was no place for former captain Aaron Finch in the team.
 Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Friday departed for India to watch Pak-India World Cup T20 match on March 19 in Kolkata.</strongSpeaking to media at Bani Gala before his departure for India, Imran Khan who was captain of Pakistan team that won 1992 World cup said, �I will meet the players ahead of the match and will try to advise them in light of my experience.�Khan said Pak-India T20 match is very important, adding that he could mentally prepare Pakistani team.PTI chief T20 skipper Shahid Khan Afridi had sought guidance from him.He went on to say that Sheikh Rasheed was to fly with him but had left earlier.
 Football's ruling body FIFA said it paid disgraced former president Sepp Blatter 3.63 million Swiss francs ($3.8 million) last year, publishing his salary for the first time under new governance regulations.</strongFIFA also announced it lost $122 million in 2015, its first deficit since 2002, attributing that mainly to the costs of battling the worst graft scandal in its history.In particular, FIFA's legal fees rose from $31.29 million in 2014 to $61.49 million while its reserves dropped from $1.52 billion to $1.34 billion."The unprecedented events that occurred in 2015 have impacted upon FIFA's financial results, however the organisation's healthy reserves have allowed it to weather the storm," the Swiss-based federation said in a statement.Several dozen officials, including former members of FIFA's executive committee, have been indicted in the United States while Blatter has been banned for six years by the ruling body's ethics committee.FIFA said Blatter's former secretary general Jerome Valcke, banned for 12 years, was paid 2.12 million Swiss francs last year. The aggregate remuneration of key management personnel was $27.9 million.Blatter had been FIFA president since 1998 and his salary had long been the subject of speculation. It was finally published on Thursday under new rules which were passed in February in an attempt to make FIFA more transparent.FIFA said it calculated Blatter and Valcke's payments on the advice of an "independent, external company that specialises in HR and compensation issues."Despite the troubles, FIFA said it had revised its projected revenue for the 2015-2018 cycle upwards from $5 billion to $5.65 billion, with projected investments amounting to $5.55 billion.Last year, Valcke, while still secretary general, admitted that FIFA was having trouble in negotiating new sponsorship deals because of its battered reputation.New FIFA president Gianni Infantino, whose salary has not been revealed, made ambitious promises during his election campaign to increase spending on football development around the world."With the recently approved reforms, I believe that we have turned a corner and that FIFA is poised to emerge stronger than ever," said Infantino."During my presidency, I pledge to make this happen and to lead FIFA into a brighter and more sustainable future so that we can all return our full focus to football.""We saw in 2015 that FIFA's competitions � such as the FIFA Women's World Cup � remain an incredible opportunity for us to promote the game and to raise the funds we need to fulfil our core mission of football development."During the electoral campaign, two of Infantino's rivals said that his plans were not financially viable and could wipe out FIFA's reserves.Revenue from World Cup sponsors dropped from $131 million to $44.5 million in 2015 after contracts with Johnson &amp; Johnson, Castrol and Continental expired at the end of 2014.However, revenue from FIFA's top tier partners increased from $177.1 million to $180 million.FIFA, which said it employed an average of 582 people throughout 2015, spent $92.1 million on personnel, compared to $115.28 million the year before.
 Virat Kohli guided India to a six-wicket win against Pakistan in the crucial Super Ten Group Two match of the World Twenty20 here at the Eden Gardens on Saturday night.Chasing a rather easy target, India completed their victory with 13 balls to spare as Kohli remained not out on 55 which he scored off 37 balls with seven fours and a six.He was supported by Yuvraj Singh (24) and later by his captain Mahindra Singh Dhoni (13 not out), who took the winning single.Kohli added 61 with Yuvraj for the fourth wicket and then 35 with Dhoni for an unbeaten fifth wicket partnership.For Pakistan, fast bowler Mohammad Sami claimed two wickets on successive balls and finished at 2-17 while left-arm fast bowler Mohammad Amir took one wicket for 11 runs.Earlier, Pakistan made 124 for five in 18 overs as their main scorers were Shoaib Malik (26) and Umar Akmal (22).The match was reduced to a 18-overs-a-side after it was delayed by an hour due to a wet outfield from rain.
 Pakistan made 118 for five in 18 overs against India in their crucial match in the World Twenty20 Super Ten Group Two here at Eden Gardens on Saturday night.Sent into bat by India captain Mahindra Singh Dhoni, Pakistan openers Ahmed Shehzad and Sharjeel Khan made a cautious start but as soon they began to speed up the score they lost their wickets.Pakistan reached 50 in the tenth over after losing both the openers. Sharjeel for 17 and Shehzad for 25.Then came in captain Shahid Afridi, promoting himself at number three but he could make only eight facing 14 balls.However, Umar Akmal and Shoaib Malik made some recovery adding 40 runs off 24 balls and Pakistan crossed the 100-run mark in the 16th over. But both departed in the span of just four runs. Akmla made 22 and Malik scored 26. Both hit a six each, the only two sixes in the Pakistan innings.Later, Sarfraz Ahmed and Mohammad Hafeez tried to accelerate the score but could finish it at 118-5.The match was reduced to a 18-overs-a-side after it was delayed by an hour due to a wet outfield.Pakistan made one change in the team which won against Bangladesh . They brought in fast bowler Mohammad Sami in place of left-arm spinner Imad Wasim while India were unchanged since their loss to New Zealand on the opening day of the Super 10s.
 India captain Mahindra Singh Dhoni won the toss and elected to bowl against Pakistan in the crucial match of the World Twenty20 Super Ten Group Two here at the Eden Gardens on Saturday.The match has been reduced to a 18-overs-a-side after it was delayed by an hour due to a wet outfield.Pakistan made one change in the team which won against Bangladesh . They brought in fast bowler Mohammad Sami in place of left-arm spinner Imad Wasim while India are unchanged.India were unchanged since their loss to New Zealand on the opening day of the Super 10s. Currently placed fourth in a group of five, they needed to win, or they will have to rely on other results going their way.The toss happened at 8.10 pm, after a ceremony that featured Sachin Tendulkar, Virender Sehwag, Sunil Gavaskar, Imran Khan, Waqar Younis, Wasim Akram, Bollywood actor Amitabh Bachchan and West Bengal chief minister Mamata Banerjee. The crowd were happy to indulge though considering the stalwarts who were on the stage.India: Shikhar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, Hardik Pandya, MS Dhoni (captain &amp; wk), Ravindra Jadeja, R Ashwin, Ashish Nehra, Jasprit Bumrah.Pakistan: Sharjeel Khan, Ahmed Shehzad, Mohammad Hafeez, Umar Akmal, Shoaib Malik, Shahid Afridi (captain), Sarfaraz Ahmed (wk), Wahab Riaz, Mohammad Sami, Mohammad Amir, Mohammad Irfan.
 Pakistan's former cricket hero Imran Khan was presented with a souvenir and a bouquet by Bengal Cricket Association along with former cricket stars from both the countries at the pre-match ceremony of Pakistan India match.</strongWasim Akram, Waqar Younis, Sunil Gavaskar, Sachin Tendulkar were also honored at the ceremony. Speaking on the occasion, Imran Khan thanked the crowd for the warm welcome and expressed the hope that result of the match would be same as when he last played at the Eden Gardens.Imran Khan was man of the match in the last match which he played at the ground in 1989, scoring 47 off 39 balls.�
 An impressive ceremony opened the much-awaited World Twenty20 match between Pakistan and India here at Eden Garden.</strongThe ceremony saw presence of former cricket stalwarts Imran Khan, Wasim Akram, Sunil Gawaskar, Sachin Tandulkar, film stars Amitabh Bachchan and Abhishek Bachchan besides Chief Minister of Indian Bengal, Mamata Benerjee.Speaking on the occasion, Imran Khan said: �On behalf of Pakistan cricket team I wan to thank the people of Kolkata for the warm welcome and great reception you�ve given us.��I hope it�s a great game today. I hope the result will be the same as when I last played for Pakistan in this ground,� he said smilingly.Amitabh Bachchan wished all the very best to the teams and hoped the best team wins today�s match.Sachin Tendulkar said the match between Pakistan and India is always very thrilling and hoped today�s match will also be exciting.Earlier, the Pakistani and Indian guests were presented bouquets and gifts by the Chief Minister of Bengal, Mamata Benerjee.Later, singer Shafqat Amanat Ali sang Pakistan's national anthem while the Indian anthem was sung by Bollywood mega star Amitabh Bhachchan.
 The crucial group Two Super Ten match of the world Twenty20 between India and Pakistan �is delayed due to wet outfield of the Eden Gardens after a heavy rain in Kolkata on Saturday.However, after the rain has stopped and covers have been removed the match is going to begin at 8-00 pm. The toss will take place at 7-30 pm.
 Pakistan defeated India by two runs under D/L method in their second match in the World Twenty20 Group B match here at the Feroz Shah Kotla ground on Saturday.Chasing 97, Pakistan were 77 for six in 16 overs and needed just 20 runs from 24 balls when rain halted the match.Opener Sidra Ameen top scored with 26, followed by Nahida Khan (14), Muneeba Ali (12 not out) and Iram Javed (10).Earlier, Pakistan restricted India to 96-7 in 20 overs.Their main scorers were Veda Krishnamurthi ( 24), captain Mithali Raj (16), �Hermanpreet Kaur (16) and Jhulan Goswami (14) while Shikha Pandey remained not out on 10.However, Pakistan women were declared the winners by two runs under Duckworth-Lewis (D/L) method.Pakistan hit nine boundaries in their first 12 overs, much before the rain arrived, in comparison to India's six in 20 overs, eventually proved to be the clincher.Pakistan�s left-arm bowler Anam Amin was declared the Player of the Match as she proved to be the most economical bowler, conceding �just 9 runs in four overs and claimed �a wicket as well.This is their first victory in the tournament after they were defeated by four runs against the West Indies Women at Chennai on Wednesday. �Now they will play their next match against Bangladesh women on Thursday at the same venue while India women will face England women at Dharamsala on Tuesday��
 Pakistan women did a commendable job restricting India women to below hundred in their tense contest in the Women�s World Twenty20 Group B encounter here at the Feroz Shah Kotla ground on Saturday.</strongAfter sent into bat by Pakistan captain Sana Mir, India made a disastrous start losing two early wickets for just five runs on the board.Later, India captain Mithali Raj, who opened the innings was also dismissed for 16 when the score reached 34.However, wickets were falling at regular intervals and the whole team could make 96 runs for seven wickets against Pakistan�s accurate bowling display.Anam Amin proved to be the most economical bowler, conceding �just 9 runs in four overs and claimed �a wicket as well. �Veda Krishnamurthi top scored with 24 while Hermanpreet Kaur made 16 and Jhulan Goswami scored 14. Shikha Pandey remained not out on 10.Now Pakistan need 97 runs to beat India, who have won five of the previous six T20I matches against them.
 Pakistan's former cricket legend and senior politician Imran Khan met players and officials of the Pakistan team ahead of the World T20 encounter with arch rivals India.�</strongFootage aired by Geo News shows Imran Khan talking to players, head coach and manager of the Pakistani team at a local hotel. Sources said Khan advised the squad to play fearlessly against India in Eden Gardens.The sources said Umar Akmal requested Khan to ask the coach and captain to allow him to bat on top order. The 92 world cup winning captain was also seen holding a brief talk with Shahid Khan Afridi, giving him tips for the match.
 Pakistan Women Cricket Team won the toss and elected to field against India in Women's World T20 at New Delhi today.</strongEarlier, Pakistan Women captain Sana Mir said she was hopeful that they will win the match against India.�We are fully prepared to face India,� she said in an interview to an Indian news channel.Sana said that every match of the World Cup was important. �But there is a lot of pressure on both teams to win this match.�Talking about her favourite cricketers Sana said she liked Shoaib Malik, Muhammad Hafeez and Muhammad Younis among the Pakistani players, and she thought Indian captain Dhoni was a tremendous player.She said she hoped that the match attracts a large number of fans and supporters.Speaking about the security for the team she said, "There is not much security around. And the girls love it."strong>Teams</strongIndia: M Raj, VR Vanitha, S Mandhana, H Kaur, V Krishnamurthy, AA Patil, J Goswami, S Pandey, S Verma, Poonam Yadav, RS Gayakwad.Pakistan: Sidra Ameen, Nahida Khan��� , Bismah Maroof, Muneeba Ali, Iram Javed, Asmavia Iqbal, Sana Mir, Nida Dar, ����������� Sidra Nawaz, Anam Amin.
 Heavy rain hit Kolkata ahead of the mother of all cricket match --- Pakistan-India clash in the ICC World Twenty20 championship here at Eden Gardens today (Saturday), Indian media reported.</strongAt one point media reports suggested, the clash may be marred by rain. However, as the day progressed the clouds dissipated and sun came out shining.Meanwhile, the Indian MET department has forecast intermittent rain and thunder for Saturday but with five hours to go before the toss, chances for the match to be rained out appear slim.The match starts at 7.30 pm, fans would be hoping that the much awaited clash is not rain-marred.Eden Gardens Kolkata, the largest Indian cricket stadium and the second largest in the world after the Melbourne Cricket Ground in Australia, has certainly been a happy hunting ground for the Pakistani cricketers who have won all their previous ODIs at this ground against India, West Indies and Bangladesh, but had lost one against Sri Lanka on May 27, 1997 by 85 runs.The green-shirts have also remained unbeatable against India in limited overs cricket at this venue.The venue for the clash was shifted to Kolkata from Dharmashala due to security reasons after Hindu extremist groups threaten to dig-up the pitch if Pakistan play there.�
strong>Serena Williams overcame a sluggish start to forge past Agnieszka Radwanska and move into the final of the BNP Paribas Open with a 6-4 7-6(1) victory on Friday.</strongThe world number one was 4-2 down in the opening set and not moving freely in their semi-final at Indian Wells, before the American began to find her rhythm to claim four straight games and control of the battle.Williams continued her run in the second set to win the opening three games before her Polish opponent fought back.Radwanska displayed the kind of tennis that will see her rise to number two in the world rankings on Monday, rallying to win the next three games to get the set back on serve.The Pole even had a chance to win just her second career set against Williams when she broke the American to lead 6-5, but could not close out on serve.Williams then snuffed out any hopes Radwanska had of claiming a first victory against the American, winning seven straight points to take the tiebreaker 7-1 and improve to 10-0 in their head-to-head battles."I think it was really good for me to have a match like that and I think that's the reason Aga is doing so well, because she never gave up," Williams told reporters."I was up so much in the second and she just came back and was determined more than ever, so it was really good to play well against her tonight."I could have played three sets but I figured I should at least do 1000 percent right now. That's what I tried to do."Williams improved to 23-1 at Indian Wells, where she won in 1999 and 2001, before taking a self-imposed 14-year exile from the event amidst allegations of racial abuse from fans after sister Venus withdrew minutes before their semi-final showdown.Some 15 years later, she is feeling the love."I had a lot of support, I heard a lot of 'Go Serena's' and that was kind of cool," Williams added."This year has been great. It feels so great to be supported. It's been a great comeback here in Indian Wells, so I'm excited about that."Williams will play the winner of the second semi-final between Victoria Azarenka and Karolina Pliskova.
 �Indian cricket star �Virat Kohli gifted Pakistan pacer Mohammad Amir one of his bats Friday ahead of the World T20 clash between the arch rivals.</strongThe �Indian batsman presented the bat to Amir during a pre match practice session at the Eden Gardens stadium in Kolkata.The 23 year old pacer faced resistance from many quarters after serving a prison term and a five year ban for spot fixing in a Test match against England at Lords in 2010.Kohli, 27, however, openly welcomed Amir�s return to the international cricket. �He has worked hard to come this far and it takes a lot of courage,� Kohli had said ahead of the Asia Cup in Bangladesh.�
 �West Indies defeated Sri Lanka by seven wickets in the World Twenty20 Super Ten group One match here at the M Chinnaswamy Stadium on Sunday night.Chasing an easy 123-run target, West Indies completed their victory with ten balls remaining in the one-sided match.Opening batsman Andre Fletcher batted throughout to see his team cruise to its� second consecutive win with an unbeaten 84. He smashed five sixes and six fours in his 64-ball innings.After three cheap dismissals, Fletcher added 55 runs with Andre Russell, who also remained not out on 20.For Sri Lanka, left-arm spinner Milinda Sriwardana claimed two wickets and leg-spinner Jeffrey Vandersay took one wicket.Earlier, Sri Lanka after put into bat, could not resist against the Windies bowlers and were restricted to 122 for nine in their 20 overs.Leg-spinner Samuel Badree captured three wickets for 12 and pacer Dwayne Bravo bagged two for 20 while Andre Russell and Carlos Brathwaite took one wicket each.Thisara Perera top scored with 40, followed by captain Angelo Mathews (20), Dinesh Chandimal (16) and Tillakaratne Dilshan (12). 
 A soccer derby between Turkish sides Fenerbahce and Galatasaray in Istanbul was cancelled and the stadium evacuated hours before the match was due to start on Sunday evening after the local governor�s office said "serious intelligence was obtained".</strongHis office gave no further details. The match was postponed "due to the assessment of serious intelligence obtained and in line with demand and consensus of the football clubs", the governor�s office said.On Saturday a suicide bomber killed four people and wounded dozens more in central Istanbul in the fourth such attack this year that has brought the death toll to more than 80 people.Sunday�s football match had been due to start at 8 p.m. (1800 GMT) but fans had started to trickle in much earlier.A Reuters photographer at the scene saw fans leaving after the stadium had been evacuated.A new date would be announced in the coming days, the Turkish Football Federation said in a statement on its website.The interior minister has indentified Saturday�s bomber as a Turkish member of the Islamic State militant group who was from the southern province of Gaziantep, near the Syrian border.
 West Indies needed to chase an easy target of 123 runs to beat Sri Lanka in the World Twenty20 Super Ten Group One match here at M Chinnaswamy Stadium on Sunday night.Sent into bat, Sri Lanka could not resist against the Windies bowlers and lost nine wickets for 122 in their 20 overs.Leg-spinner Samuel Badree captured three wickets for 12 and pacer Dwayne Bravo bagged two for 20 while Andre Russell and Carlos Brathwaite took one wicket each.Only four Sri Lanka batsmen could get into the double figures with Thisara Perera top scoring with 40, followed by captain Angelo Mathews (20), Dinesh Chandimal (16) and Tillakaratne Dilshan (12).
 The West Indies captain Darren Sammy won the toss and put Sri Lanka into bat first in the Super Ten Group One match of the World Twenty20 here at the M Chinnaswamy Stadium on Sunday.West Indies made one change as Andre Fletcher came into the eleven at the expense of fast bowler Jerome Taylor.Sri Lanka were moving on with legspinner Jeffrey Vandersay, who will partner the wily Rangana Herath and allrounder Milinda Siriwardana.Nuwan Kulasekara, Dushmantha Chameera, Mathews and Thisara Perera were Sri Lanka's fast bowling options.The team batting second has won 40 out of 75 T20 games in Bangalore and much will depend on the 39-year old in-form Tillakaratne Dilshan to provide a big enough total to put one over on history and a power-packed West Indies side.Teams:West Indies: Chris Gayle, Johnson Charles, Marlon Samuels, Andrew Fletcher, Dwayne Bravo, Andre Russell, Darren Sammy (captain), Dinesh Ramdin (wk), Carlos Brathwaite, Samuel Badree, Sulieman BennSri Lanka: Tillakaratne Dilshan, Dinesh Chandimal (wk), Lahiru Thirimanne, Milinda Siriwardana, Angelo Mathews (captain), Thisara Perera, Chamara Kapugedera, Shehan Jayasuriya, Nuwan Kulasekara, Dushmantha Chameera, Rangana Herath��
 South Africa survived a spirited Afghanistan chase to defend a 200-plus score and get their World Twenty20 campaign back on track.Chris Morris and Imran Tahir squeezed through the middle period to ensure AB de Villiers' quickfire 64 was not in vain, he took 29 runs off Rashid Khan, which ended up being the major difference between the two sides.In the end, South Africa will be relieved that they were able to defend their total, but disappointed that the margin of victory was not bigger. They tightened up on their discipline in the field but still gave away more extras than their opposition - six wides compared to two from Afghanistan - and did not show the kind of killer instinct that they will need later in the tournament.They also suffered an injury concern. JP Duminy left the field four balls into Afghanistan's chase with a hamstring strain and was unable to take any further part in the match. Duminy has only just found form again and his availability will be important for the rest of the World T20.Quinton de Kock picked up from where he left off two days ago and dominated the opening passages of play. Hashim Amla may have wanted to catch up but after one four, gifted a catch to Asghar Stanikzai at mid-off.South Africa held de Villiers back and sent in Faf du Plessis at No.3. The strategy worked. Du Plessis took on the spin from Mohammad Nabi while de Kock continued to attack in the Powerplay. South Africa finished it on 66 for 1 and 60 of those runs came in boundaries.When the fielding restrictions were lifted, Rashid put the brakes on with the first boundary-less over of the innings, but du Plessis did not want things to slow down too much. He picked up the pace before being run-out and de Villiers was soon at the crease.Afghanistan were not under threat immediately while de Villiers settled in and de Kock nicked off. After conceding just 19 runs in three overs after the halfway stage of the South African innings, Afghanistan might have been hopeful of pulling South Africa even further back. But Duminy and de Villiers were wise to the need to accelerate and began to push for runs.It was up to David Miller to take them to 200 after de Villiers was dismissed. Twenty runs off the final over ensured South Africa had a second straight 200-plus score.However, Mohammad Shahzad threatened to gun down that total all by himself. He began fearlessly against Kagiso Rabada and Kyle Abbott and plundered 32 runs off the first two overs. His partner Noor Ali Zadran did not face a ball until the third over and then, it was only to return the strike to Shahzad.Morris was brought on in the fourth over and showed improvement from previous performances. He started by holding his length back but then steamed in with a delivery just under 150kph - full and straightening - which splayed Shahzad's stumps.Asghar Stanikzai and was caught behind in Morris' next over but Gulbadin Naib kept Afghanistan in it and targeted David Wiese, South Africa's replacement for Steyn. Afghanistan reached 10 overs on 103 for 2, 11 runs ahead of where South Africa were at the same stage. Then, Gulbadin was caught behind, Noor Ali was stumped, and Afghanistan were wobbling, still needing 100 runs off eight overs. Their chase was over then and South Africa had the chance to drill home an advantage.Instead, they allowed Afghanistan to drag it out. Abbott and Morris got the yorker right more often than they did in previous matches and Rabada managed one at the end, but South Africa will not feel it was a complete performance by any means. �
 The West Indies defeated Bangladesh by 49 runs in the eighth match of the Women�s World Twenty20 Group B here at MA Chidambaram Stadium, Chepauk on Sunday.First they made 148 for four after winning the toss and then bowled out Bangladesh Women for 99 in 18.3 overs.Captain Stafanie Taylor, leading from the front, displayed an excellent allround performance. First she opened the innings herself along with Hayley Matthews to provide a good start of 67 in 11.4 overs. She scored 40 while Matthews made 41.Later, she captured three wickets for 13 runs with her off-break bowling.For Bangladesh, only four players could get into the double figures, including Nigar Sultana, who contributed 27.Left-arm spinner Nahida Akhtar was the most successful bowler for Bangladesh, taking three for 27.
 South Africa piled up 209 for five against Afghanistan in their Super Ten Group One match of the World Twenty20 here at the Wankhede Stadium on Sunday.Thus, South Africa became the first side to cross 200-run mark twice in a single World T20 edition. Earlier, they made 229 against England on Friday.Winning the toss, South Africa batted first but lost Hashim Amla for five when they reach3ed 25 in the third over.Then Quinton de Kock and captain Faf du Plessis steered their team to 90 in the tenth over before the latter was run out for 41and just two overs later de Kock was also gone for 45.However, AB de Villiers and Jean-Paul Duminy added 76 runs for the fourth wicket stand before de Villiers was dismissed. He struck five sixes and four boundaries in a breezy innings of 29-ball 64.Then David Miller smashed 19 off just eight balls with a six and two fours while Duminy remained not out on 29. He also hit a six and two fours.
strong>Pakistan did all they could to get their World Twenty20 match against India moved to Kolkata, even threatening to withdraw, but poor selection and the hosts� all-round superiority left them wishing they had not bothered to turn up at all.</strongThe most anticipated match of the tournament between the neighbours was shifted to Eden Gardens at the last moment over security concerns at the original venue at Dharamsala.Pakistan repeatedly emphasised India�s morale-sapping loss in the opener against New Zealand was an advantage for them and they were even more confident of breaking their jinx of losing every World Cup match between the bitter rivals.Their decision to play four fast bowlers against India reflected an approach more suited to the 1980s West Indies side and dropping spinner Imad Wasim at the expense of a paceman underlined their failure to read the surface.Asked to bat in the rain-shortened Group Two match, the 2009 champions were largely subdued once off-spinner Ravichandran Ashwin got the new ball to turn viciously.Doubts seemed to creep into Pakistan�s minds regarding what would be a decent target to set India, who folded for 79 against the Kiwis on a turning track while chasing 127 in their opener, and the innings never gained momentum until the death overs.MEAGRE TOTAL"There are few areas we need to improve, specially our batting," said Shoaib Malik, who top-scored with a 26 for Pakistan."Even though it was a tough pitch to bat on, I believe we could have set a higher target."In the end, Pakistan could only manage a meagre 118 for five in their 18 overs, nowhere near enough without the bowling depth New Zealand could draw upon in Nagpur when their spinners picked up nine of 10 wickets to stun India.India did suffer a minor wobble though, slumping to 23-3 after Mohammad Sami dismissed Shikhar Dhawan and Suresh Raina in consecutive deliveries in the fifth over to silence the 60,000 crowd at Eden Gardens as well as the millions watching on TV.However, India�s batting mainstay Virat Kohli hit a prudent 55 not out to calm the nerves and showed why he is considered one of the world�s best.The right-hander, who averages almost 85 in T20s against Pakistan, was aided by the fact that he did not have to face too many deliveries from Mohammad Amir, whose opening spell of 1-3 ran shivers down India�s spines.The left-arm paceman was not brought back on by Shahid Afridi until India were nearing victory and the leg-spinning skipper, who lacks the guile to turn the ball effectively, was unable to stem the flow of runs himself.As the pressure lifted, India were easily able to maintain their utter dominance of Pakistan in World Cup events, adding a fifth World Twenty20 victory to the six triumphs in the 50-over format.
 �South Africa captain Faf du Plessis won the toss and opted to bat in the World Twenty20 Super 10 clash against Afghanistan at the Wankhede Stadium on Sunday.</strongThe Proteas, considered one of the favourites to lift the trophy at Kolkata�s Eden Gardens on April 3, suffered a morale-sapping loss on Friday, going down against England after setting them a target of 230.They dropped Dale Steyn from the side that lost their Group One opener and drafted in bowling all-rounder David Wiese, hoping to get their campaign back on track against their lesser-known opposition."Looks like a good surface. We don�t know too much about Afghanistan. ..they have some good spinners," Du Plessis said at the toss.Afghanistan, who reached the Super 10 stage after coming through the qualifiers, also lost their opening match against defending champions Sri Lanka.Karim Sadiq, Shafiqullah and Hamid Hassan were dropped from the Afghan side that lost in Kolkata and were replaced by Shapoor Zadran, Amir Hamza and Gulbadin Naib.Afghanistan captain Asghar Stanikzai hoped his side would be able to restrict South Africa�s powerful batting line-up."The wicket looks good, it�s a high-scoring ground," Stanikzai said.�"Hopefully, we will restrict them to 150."
 Former captain Imran Khan on Sunday congratulated Pakistan Women cricket team on their victory against India.</strongIn a series of tweets, Khan said the disappointment which he faced due to defeat of Pakistan team against India was somewhat mitigated by the victory of women team. dir="ltr" lang="en">Want to congratulate our Women's team for their win over India. This somewhat mitigates the disappointment over our boys' loss last night.The former cricket hero said Pakistan has immense cricketing talent but existing structure of the sport was unable to hone new talent. dir="ltr" lang="en">Unless we revamp our cricket structure at home, the gulf between Pakistan &amp; India in cricket will continue to widen to our disadvantage.He said cricket gap between Pakistan and India will widen if cricket structure is not overhauled.Imran Khan witnessed the match between Pakistan and India in Kolkata�s Eden Gardens cricket stadium on Saturday. ��
 �Australia survived another middle-order collapse to beat Bangladesh by three wickets in the World Twenty20 Super 10 on Monday to get their campaign up and running.</strongBoth teams were looking to bounce back from losing their opening Group Two games, Australia skipper Steve Smith winning the toss and choosing to field.Smith�s men picked up wickets at regular intervals to restrict Bangladesh to a modest 156 for five despite a late flurry by Mahmudullah who hit seven fours in an unbeaten 49.Leg-spinner Adam Zampa (3-23) and all-rounder Shane Watson (2-31) were the pick of the bowlers.Openers Usman Khawaja (58) and Watson (21) then got Australia off to a good start, sharing a stand of 62 in 44 deliveries before the latter was run out.Khawaja was bowled by Al-Amin Hossain in the 14th over having struck seven fours and a six in a 45-ball knock that gave Australia a solid platform, although they had the same sort of middle-order slump they suffered in the first game against New Zealand.Smith, out for six against the Kiwis, was bowled by Mustafizur Rahman for 14.David Warner (17) was next to fall and was soon followed by Mitchell Marsh (six).Glenn Maxwell then scored a brisk 26 before being stumped by Mushfiqur Rahim off left-arm spinner Shakib Al Hasan.All-rounder John Hastings, brought in by Australia for left-arm spinner Ashton Agar, was dropped on nought by Hossain and finally went for three when he was caught at mid-wicket by Soumya Sarkar.By then Australia needed five runs off the last two overs and James Faulkner and Peter Nevill saw them through to a far-from-convincing win that lifted them to third in the group behind New Zealand and Pakistan but ahead of India.Bangladesh, who are bottom, have a mountain to climb to reach the semi-finals.
� Australia restricted Bangladesh to a modest 156-5 in their World Twenty20 Super 10 match in Bengaluru on Monday, despite a late flurry by their opponents.</strongAustralia skipper Steven Smith won the toss at the M Chinnaswamy Stadium and his team made an encouraging start with Shane Watson picking off opener Soumya Sarkar in the second over to leave their opponents at 2-1.Both teams are looking to bounce back after losing their opening Group 2 games.Australia, chasing an elusive first World Twenty20 title, were edged out by New Zealand in their first Group 2 match in Dharamsala while Bangladesh were trounced by Pakistan last Wednesday.Leg-spinner Adam Zampa was the pick of the Australian bowlers, taking three wickets in his allotted four overs, including Sarkar�s partner Mohammad Mithun (22), who was promoted up the order in place of the ill Tamim Iqbal.Zampa struck again to remove Shuvagata Hom (13) and got the key wicket of Shakib Al Hasan (33), who had notched up a patient 33 of 25 balls and was just starting to open up.Bangladesh found boundaries hard to come by until Mamadullah got to the crease to notch a quickfire 49 and add a bit of gloss to the scoreboard.<br/>Aided by Mushfiqur Rahim�s 15 off 11 deliveries, Mamadullah struck seven boundaries to add 50 runs in 26 balls for the sixth wicket and take his team to a competitive total.Bangladesh, missing suspended paceman Taskin Ahmed and left-arm spinner Arafat Sunny, brought Saqlain Sajib and Hom into the starting XI with Mustafizur Rahman replacing Iqbal.
 Australia captain Steven Smith won the toss and chose to bowl against Bangladesh in a vital World Twenty20 fixture for both sides here at the M Chinnaswamy Stadium on Monday night.Australia brought John Hastings in for Ashton Agar in the only change to the side that lost their opening match in Dharamsala.Bangladesh have had to cope with the loss of Taskin Ahmed and Arafat Sunny due to queries over their bowling actions. They were replaced in the squad and the eleven by left-arm spinner Saqlain Sajib and offspinning allrounder Shuvagata Hom, both of whom only joined the team on Sunday night. Sajib made his international debut.They were also missing Tamim Iqbal due to illness, with Mohammad Mithun moving up the order to replace him. Mustafizur Rahman returned to the side after recovering from an injury he sustained during the Asia Cup last month.Both sides lost their opening Super 10 matches against New Zealand and Pakistan respectively and know that a second defeat in a row could almost certainly eliminate them from the tournament.Australia: Usman Khawaja, Shane Watson, Steven Smith (captain), David Warner, Glenn Maxwell, Mitchell Marsh, James Faulkner, Peter Nevill (wk), John Hastings, Nathan Coulter-Nile, Adam ZampaBangladesh: Mohammad Mithun, Soumya Sarkar, Sabbir Rahman, Shakib Al Hasan, Mahmudullah, Mushfiqur Rahim (wk), Shuvagata Hom, Mashrafe Mortaza (captain), Saqlain Sajib, Al-Amin Hossain, Mustafizur Rahman
 New Zealand defeated three-time championsAustralia with comfort in the Women�s World Twenty20 Tenth Match Group A here at the Vidarbha Cricket Association Stadium on Monday.Chasing an easy target of 104, New Zealand completed their six-wicket victory with 22 balls remaining after captain Suzie Bates (23) and Rachel Priest (34) provided a fine start of 58 runs.However, both fell quickly within a span of nine balls but then Sophie Devine (17), Sara McGlashan (11) and Amy Satterthwaite (16 not out) overcame the situation to cruise home.Earlier, Australia were restricted to 103 for eight by New Zealand bowlers after their captain Meg Lanning won the toss.Ellyse Perry top-scored with 42 with a three fours and a six, followed by Jess Jonassen (23), Beth Mooney (15 not out) and Alex Blackwell (10).Off-spinner Kasperek captured three wickets for 13 runs and leg-spinner Erin Bermingham claimed two for 23.
 Australia were restricted to 103 for eight by New Zealand bowlers in the Women�s World Twenty20 Tenth Match Group A here at the Vidarbha Cricket Association Stadium on Monday.After their captain Meg Lanning won the toss and elected to bat first, Australian women made a worst start losing four wickets for just four runs. Three of them were dismissed for duck as off-spinner Leigh Kasperek got rid off the first three top-order batters.However, it was Ellyse Perry who saved Australia from total collapse and scored 42 valuable runs.She was supported to some extent by Jess Jonassen (23), Beth Mooney (15 not out) and Alex Blackwell (10).Kasperek bagged three for 13 and leg-spinner Erin Bermingham claimed two for 23.
 �Former skipper Imran Khan has asked India to play a positive role for ensuring a bilateral cricket series between their country and Pakistan.</strongTalking to BBC the former world cup winning captain said that a bilateral cricket series between the two neighbouring countries was very important.�A cricket series between the two countries will be a great affair. This will benefit cricket boards of both,� he said.Imran Khan, however, said that as the Board of Control for Cricket in India(BCCI) was already financially stable, �a series would be more beneficial for Pakistan Cricket Board (PCB).�The PCB may spend money earned through this way to improve its domestic cricket,� he said.He said Pakistan always showed a positive attitude for bilateral series and took steps for that but India did not respond positively.Khan said India was a large country and there was an element of arrogance in its attitude, adding this factor was a hurdle in the way of a series.Expressing disappointment at the national team�s loss against India in Word T20 game, he said Pakistan team did not do justice with their talent.�If they had suffered defeat while fighting there would have been no disappointment, but it is regrettable they lost in a one sided affair,� he said.
strong>DHAKA, March 21 (Reuters) - Bangladesh have appealed to cricket�s world governing body to lift the suspension on paceman Taskin Ahmed, who was ruled out of the ongoing World Twenty20 in India due to an illegal action.</strongTaskin and left-arm spinner Arafat Sunny were suspended from bowling in international cricket on Saturday after being reported by match officials following Bangladesh�s qualifying match against the Netherlands in Dharamsala on March 9.While Sunny�s elbow extension for the majority of his deliveries exceeded the 15-degree limit, not all of Taskin�s balls were found to be legal, the International Cricket Council (ICC) said while announcing their suspensions."We are not convinced about Taskin as of now. We don�t have any reason to be satisfied with the report," Bangladesh Cricket Board president Nazmul Hassan told reporters."And that�s disappointing, so we have appealed to the ICC."They are going to sit down with a team of legal experts and will inform us of their decision as soon as possible."Bangladesh, who came through the qualifiers to reach the Super 10 stage, lost to Pakistan in their opening Group Two match last Wednesday and next face Australia in Bangalore on Monday.India and New Zealand are the other teams in the pool with the top two advancing to the semi-finals.
 Shahryar Khan, Chairman Pakistan Cricket Board (PCB) has publicly expressed his disappointment with the team after it lost a much hyped match with India on Saturday.</strongSpeaking to a British news agency, Shahryar said, �Pakistan ranks seventh in the T20 format. So the country should not pin much hope on the team.�PCB chief said that in the match against India the team failed to grasp wickets.Criticizing the decision to include Mohammad Sami in the squad he said, �If three fast bowlers could not help the team win, a fourth would not make things better. There should have been a spinner in the team.�In a statement which surprised many, he openly criticized team captain Shahid Afridi. �His future is evident. After the World Twenty20 ends, we will begin looking for another captain.�About Coach Waqar Younis he said, �His contract ends in June. We will rethink our decision over him.�
 Pakistan failed to meet the challenge as they were beaten by 22 runs in their crucial match against New Zealand in the World Twenty20 Super Ten Group Two here at the Punjab Cricket Association IS Bindra Stadium on Tuesday night.New Zealand have qualified for the semi-finals after recording the third consecutive win in the tournament.Chasing an improbable target of 181, opener Sharjeel Khan made an explosive start, smashing 47 from 25 balls with nine fours and a six to take Pakistan to 65 in the sixth over but as soon he departed, the hopes of winning the match were gradually fading out.Then, Khalid Latif who did not play any T20 International since 2012, failed to impress and got out for just three runs.Later, Ahmed Shehzad was also dismissed for 30 when Pakistan reached 96 in the 13th over.When Shahid Afridi joined Umar Akmal, they were expected to accelerate the run rate but they could add only 27 runs from 17 balls before Afridi got out after hitting 19 off nine balls with two fours and a six.Pakistan still needed 58 runs from 29 balls but Umar Akmal was also gone for 24 when Pakistan were on 140 in the 18th over.Then, Shoaib Malik and Sarfraz Nawaz could not hit any four or six as Pakistan finished on 158-5 in their 20 overs.Earlier, Martin Guptill�s 48-ball 80 guided New Zealand to post a big total of 180 runs for five wickets after they opted for batting first.Guptill with his captain Kane Williamson provided a sound start of 62 before the latter fell to fast bowler Mohammad Irfan for 17. Then soon another wicket fell when captain Shahid Afridi got Colin Munro caught by Khalid Latif for seven.Later Guptill and Corey Anderson added 52 from 34 balls before Guptill was bowled by fast bowler Mohammad Sami, after an aggressive innings of 80, laced with three towering sixes ten fours in 48 balls. Another wicket fell quickly as Anderson was caught by Shoaib Malik off Afridi for 21.Ross Taylor along with Luke Ronchi took the score to 164 when Sami got Ronchi out caught by Malik for 11.However, Taylor remained not out on 36 as New Zealand set an improbable target of 181for Pakistan.Sami bowled extremely well taking two for 23 and Afridi got two for 40 while Irfan took one wicket.�
 Opener Martin Guptill�s explosive innings guided New Zealand to post a big total of 180 runs for five wickets against Pakistan in the World Twenty20 Super Ten Group Two match here at the the Punjab Cricket Association IS Bindra Stadium on Tuesday night.Batting first after winning the toss, Guptill with his captain Kane Williamson provided a sound start of 62 before the latter fell to fast bowler Mohammad Irfan for 17. Then soon another wicket feel when captain Shahid Afridi got Colin Munro caught by Khalid Latif for seven and New Zealand were 75 for two in 8.5 overs.Later Guptill and Corey Anderson added 52 from 34 balls before Guptill was bowled by fast bowler Mohammad Sami, after an aggressive innings of 80, laced with three towering sixes ten fours in 48 balls.Another wicket fell quickly as Anderson was caught by Shoaib Malik off Afridi for 21.Ross Taylor along with Luke Ronchi took the score to 164 when Sami got Ronchi out caught by Malik for 11.However, Taylor remained not out on 36 as New Zealand set an improbable target of 181for Pakistan.Sami bowled extremely well taking two for 23 and Afridi got two for 40 while Irfan took one wicket.New Zealand made no change in their team while Pakistan made two changes � bringing in top-order batsman Khalid Latif and left-arm spinning all-rounder Imad Wasim in place of Mohammad Hafeez and Wahab Riaz who are injured.��
 New Zealand captain Kane Willliamson won the toss and decided to bat �first against Pakistan in the World Twenty20 Super Ten Group Two match here at the Punjab Cricket Association IS Bindra Stadium on Tuesday night.This was third successive toss win for New Zealand who tops the points table with four points from their two matches so far.New Zealand made no change in their team while Pakistan made two changes � bringing in top-order batsman Khalid Latif and left-arm spinning all-rounder Imad Wasim in place of Mohammad Hafeez and Wahab Riaz who are injured.A bone contusion on his right femur ruled Mohammad Hafeez out of the match, while Wahab Riaz, who was struck just above the ear by a throw at practice.Pakistan need a win badly otherwise they end up having to depend on other results going their way for their progress in the tournament.Opening batsman Khalid Latif has already played seven T20 Internationals but he last appeared for Pakistan in June 2012.New Zealand: Martin Guptill, Kane Williamson (captain), Colin Munro, Corey Anderson, Ross Taylor, Grant Elliot, Luke Ronchi (wk), Mitchell Santner, Mitchell McClenaghan, Ish Sodhi, Adam MilnePakistan: Sharjeel Khan, Ahmed Shehzad, Khalid Latif, Umar Akmal, Shoaib Malik, Sarfraz Ahmed (wk), Shahid Afridi (captain), Imad Wasim, Mohammad Irfan, Mohammad Sami, Mohammad Amir.
 England women survived a dreadful bowling attack from India to emerge victorious at a slow, spinning pitch of the Himachal Pradesh Cricket Association Stadium in the Women�s World Twenty20 Group B 11th match on Tuesday.Chasing an easy target of 91, England cruised to a two-wicket win, after losing eight wickets, with an over to spare.Left-arm bowler Ekta Bisht bowled remarkably well to bring back India into the game but England�s late-order batters managed to escape a total collapse.Bisht grabbed four wickets for 21 and pace bowler Harmanpreet Kaur claimed two for 22.Only three English batters could get into the double figures. They were Tammy Beaumont (20), Natalie Sciver (19) and Sarah Taylor (16).Earlier, England Women restricted India Women to 90 runs for eight wickets after their captain Charlotte Edwards won the toss and bowled first.Off-spinner Heather Knight took the new ball and tied India into knots at a slow, spinning pitch as she captured three wickets for 15 runs while medium-pacers Anya Shrubsole and Sciver claimed two for 12 and one for seven, respectively.For India, Harmanpreet Kaur top scored with 26 and captain Mithali Raj made 20 while three more batters got into the double figures.After the match ended, Knight was declared the Player of the Match.
 England women restricted India Women to a mere 90 runs for eight wickets in their 20 overs in the Women�s World Twenty20 Group B 11th match here at the Himachal Pradesh Cricket Association Stadium on Tuesday.After England women captain Charlotte Edwards won the toss and put India women into bat, off-spinner Heather Knight took the new ball and tied India into knots at a slow, spinning pitch.She captured three wickets for 15 runs from her four overs while medium-pacers Anya Shrubsole and Natalie Sciver claimed two for 12 and one for seven, respectively.For India, Harmanpreet Kaur top scored with 26 and captain Mithali Raj made 20 while three more batters got into the double figures.
 South Africa will play Friday�s vital World Twenty20 Group 1 match against West Indies without all-rounder JP Duminy who has been ruled out with a hamstring strain.</strongDuminy picked up the injury while fielding in Sunday�s 37-run victory over Afghanistan and will be a loss for the side with bat and ball."The scans which were done yesterday (Monday) confirmed our clinical suspicion of a hamstring strain which means that he will be ruled out of Friday�s game against the West Indies in Nagpur," team manager Mohammed Moosajee said in a Cricket South Africa statement on Tuesday."The plan is to try and get him ready for our last round-robin match against Sri Lanka in Delhi on Sunday."Duminy has scored 83 runs from 48 balls in the competition without being dismissed and took 1-31 in three overs in the two-wicket defeat by England in South Africa�s opening game.The 31-year-old is his country�s leading scorer in Twenty20 Internationals with 1,654 runs in 70 matches, fourth on the all-time list headed by New Zealand�s Brendon McCullum.
 India edged out Bangladesh by one run in a thrilling World Twenty20 match on Wednesday to keep alive their hopes of reaching the semi-finals.</strongIndia posted a modest 146-7 after being sent in to bat, but Bangladesh lost three wickets, including a last-ball run out, in the final over to fall to a narrow defeat.
 Bangladesh put in a much-improved performance with the ball to restrict hosts India to 146-7 in a World Twenty20 Group Two match on Wednesday.</strong/>India, under pressure after being beaten by New Zealand in their opening match, lost both openers in quick succession with less than 50 runs on the board after being asked to bat by Bangladesh captain Mashrafe Mortaza.Rohit Sharma (18) was the first to fall, caught by Sabbir Rahman after skying a Mustafizur Rahman delivery in the sixth over. Shakib Al Hasan trapped Shikhar Dhawan (23) lbw in the next over, to leave the hosts at 45-2.Virat Kohli (24) and Suresh Raina (30) steadied the ship for India, adding 50 runs for the third wicket, but a disciplined performance by the Bangladesh bowlers kept the Indian batsmen under constant pressure.Shuvagata Hom bowled Kohli before Al-Amin Hossian, who had been hit for back-back-sixes by Raina, rallied to dismiss the big-hitting Hardik Pandya and Raina with consecutive deliveries.Pandya (15), hit two boundaries and a six before a diving Soumya Sarkar pulled off a stunning catch in the outfield to send him packing.Hossian took a simple catch of a Mahmudullah delivery to see off Yuvraj Singh for three and Mustafizur Rahman struck again at the death to remove Ravindra Jadeja for 12 with the first ball of the last over to keep India below 150.Bangladesh lost their first two matches in Group Two.
 Bangladesh captain Mashrafe Mortaza decided to field first against India on a flat pitch with a covering of grass, which should not worry the batsmen who can hit through the line.Tamim Iqbal, who missed the Australia game due to food poisoning, returned to the team. He replaced left-arm spinner Saqlain Sajib, who made his international debut in the last match against Australia.India made no change and went with the same line-up who defeated Pakistan on Saturday.Teams:India: Rohit Sharma, Shikhar Dhawan, Virat Kohli, Suresh Raina, Yuvraj Singh, MS Dhoni (captain &amp; wk), Hardik Pandya, Ravindra Jadeja, R Ashwin, Jasprit Bumrah, Ashish NehraBangladesh: Tamim Iqbal, Soumya Sarkar, Sabbir Rahman, Shakib Al Hasan, Mushfiqur Rahim (wk), Mahmudullah, Mohammad Mithun, Shuvagata Hom, Mashrafe Mortaza (captain), Al-Amin Hossain, Mustafizur Rahman
 Cricket minnows Afghanistan gave a tough time to England who emerged victorious in the end in the World Twenty20 Super Ten Group One match here at the Feroz Shah Kotla ground on Wednesday.Chasing 143, they made a disastrous start but finished at 127 for nine to lose the match by 15 runs.Shafiqullah top-scored with an unbeaten 35 from 20 balls. He struck two towering sixes and four boundaries.Other main scorer was Samiullah Shenwari, who made 22.Leg-spinner Adil Rashid and left-arm pacer David Willey claimed two wickets each while off-spinner Moeen Ali, and seamers Chris Jordan and Ben Stokes took one wicket each.Earlier, England managed to avoid a total collapse after losing seven wickets for 85, batting first after winning the toss.England batsmen could not resist against Afghan spinners but it was Moeen Ali who saved his team from an embarrassing situation to steer them to 142 for seven.Ali remained not out on 41, made from 33 balls with four boundaries and a six. He was ably supported by tail-ender David Willey, who contributed an unbeaten 20, hitting two sixes. Both added 57 runs from 33 balls for an unbeaten eighth wicket stand.For Afghanistan, off-break bowler Muhammad Nabi and leg-break bowler Rashid Khan captured two wickets for 17 each while leg-spinner Samiullah Shenwari and left-arm spinner Amir Hamza took one wicket each.
 England managed to avoid total collapse after losing seven wickets for 85 against minnows Afghanistan in the World Twenty20 Super Ten Group One match here at the Feroz Shah Kotla ground on Wednesday.Batted first after winning the toss, England batsmen could not resist against Afghan spinners but it was Moeen Ali who saved his team from an embarrassing situation and steered them to 142 for seven in their 20 overs.Ali remained not out on 41, made from 33 balls with four boundaries and a six. He was ably supported by David Willey, who contributed an unbeaten 20 hitting two sixes. Both added 57 runs from 33 balls for an unbeaten eighth wicket stand.Only three other batsmen could get into the double figures � James Vince (22), Chris Jordan (15) and Joe Root (12).For Afghanistan, off-break bowler Muhammad Nabi and leg-break bowler Rashid Khan captured two wickets for 17 each while leg-spinner Samiullah Shenwari and left-arm spinner Amir Hamza took one wicket each.England made two changes � bringing in James Vince in place of Alex Hales, who has a stiff back, while Liam Plunkett was preferred to Reece Topley while Afghanistan made one change, with Shafiqullah, replacing Dawlat Zadran.
 In the wake of national team�s continued poor performance in the Asia Cup and now in the World Twenty20, the Pakistan Cricket Board (PCB) has decided to sack the head coach, chief selector and captain of the team, according to sources.The sources said that the PCB is not satisfied with the performances of head coach Waqar Younis, chief selector Haroon Rasheed and captain Pakistan T20 team Shahid Khan Afridi and decided to sack them.Moreover, it has been decided to dismiss Haroon Rasheed also from the PCB employment.
 England captain Eoin Morgan won the toss and elected to bat first against Afghanistan in the World Twenty20 Super en, Group One match here at the Feroz Shah Kotla ground on Wednesday.Teams:England: Jason Roy, James Vince, Joe Root, Jos Buttler (wk), Eoin Morgan (captain), Ben Stokes, Moeen Ali, Adil Rashid, David Willey, Chris Jordan, Liam Plunkett.Afghanistan: Mohammad Shahzad (wk), Noor Ali Zadran, Asghar Stanikzai (captain), Shafiqullah, Mohammad Nabi, Gulbadin Naib, Samiullah Shenwari, Najibullah Zadran, Rashid Khan, Amir Hamza, Shapoor Zadran.England have played Afghanistan on two previous occasions at an ICC global event. Their first encounter came at Colombo in October 2012, during the World T20. England won by 116 runs, thanks to 99 not out from 55 balls from the long-forgotten Luke Wright.Their most recent clash was at Sydney in March 2015, in England's final contest of their miserable World Cup campaign. In a soggy, downbeat affair, Ian Bell signed off from ODI cricket with 52 not out from 56 balls in a nine-wicket win.England lost their most recent encounter with an Associate nation at the World T20, when the Netherlands crushed them by 45 runs in Chittagong.�
 Bangladesh failed in their frantic bid to get paceman Taskin Ahmed�s bowling suspension overturned to help revive their flagging World Twenty20 campaign after a judicial commissioner upheld the ban for an illegal bowling action.</strongThe right-arm bowler and his team mate, left-arm spinner Arafat Sunny, were suspended from bowling on Saturday after both were reported for illegal actions following a March 9 qualifier against the Netherlands in Dharamsala."Taskin Ahmed�s suspension from bowling in international cricket has been upheld, following a review hearing conducted by a Judicial Commissioner," the International Cricket Council (ICC) said in a statement on Wednesday.After Taskin requested an expeditious review of his case and judicial commissioner Michael Beloff held a teleconference on Tuesday, the global governing body explained their decision."Having carefully considered those arguments and the responses of the ICC, Mr Beloff has now notified all parties concerned of his decision that Taskin�s suspension from bowling in international cricket shall be upheld and indicated that a written reasoned decision will be provided in due course," it said.After being reported in Dharamsala, Taskin, was assessed at the ICC-accredited test centre in Chennai where, according to media reports, his bouncers were found to exceed the ICC limit of elbow extensions.After fixing his action, Taskin, who turns 21 next month, could apply for a re-assessment, the ICC said."In the event of such re-assessment concluding that Taskin has remedied his bowling action and that his elbow extension is within the permissible level on all of his standard deliveries, his suspension shall be lifted and he shall be permitted to resume bowling in international cricket."It has been a forgettable World Twenty20 for Taskin�s team so far, with Bangladesh losing their first two main draw matches against Pakistan and Australia, and they are heavy underdogs when they take on hosts India in Bangalore later on Wednesday.
 Sidra Amin�s unbeaten 50 helped Pakistani women�s cricket team secure a comfortable win against Bangladesh by 9 wickets in the Women World Twenty20 tournament here on Thursday.</strongChasing down a mediocre target of 114 runs, Sidra Amin scored impressive 53 runs while Bisma Maroof made 43. The two players� unbeaten partnership contributed 99, pushing the team to achieve the required target in the 17th over.Sidra Amin was declared player of the match.Earlier, Bangladesh women team scored 113 runs from the 20 overs.In their previous match, the Pakistan women�s team had defeated India under a Duckworth-Lewis method due to rain.�
 Australian all-rounder Shane Watson will bow out of international cricket after the World Twenty20 in India, cutting the team�s last link to their golden era in the early 2000s.</strongThe 34-year-old blond quit tests last year after losing his battle against a spate of injuries that plagued his career, and has not featured in a one-day international since September."One morning I woke up in Dharamsala, waking up to the beautiful view and I don�t know what it was exactly but I knew now was the right time," Watson told reporters in Mohali where Australia take on Pakistan in their next Super 10 match on Friday."I�ve really enjoyed my time being back in the Australian squad.But it is quite different, none of the other guys I played with growing up are here any more," he added.Watson made his one-day debut against South Africa in 2002, three years before he broke into the test team led by Ricky Ponting.Watson played along side the likes of Ponting, Glenn McGrath, Shane Warne and Adam Gilchrist and also helped to rebuild the side after his seniors quit the game.Since his 2005 test debut against Pakistan, regular hamstring and back injuries have taken a toll on Watson�s body, prompting him to end his test career after 59 matches, scoring a total of 3731 runs to go with 75 wickets.Watson was part of Australia�s 2007 and 2015 World Cup winning teams.A World Twenty20 title continues to elude Australia but Watson was adjudged player of the tournament at the 2012 edition of the tournament in Sri Lanka.The big-hitting all-rounder will continue to play domestic Twenty20 tournaments including the Big Bash League for the Sydney Thunder, Cricket Australia said.
 Pakistani all-rounder Shoaib Malik has ruled out �grouping� in the national team, saying that there was 'no substance' in the allegations.</strongAddressing a press conference here Thursday, Malik said the air of negativity which surrounds players has hampered team spirit.He said, �If Shahid Afridi wins the World Cup no one will be happier than me.��Malik said that all the players want the team to win.Talking about successful teams he said, �The top teams are successful because they have strong internal leagues. We, on the other hand, are not able to play with consistency.�Praising bowler Mohammad Amir, he said his game is getting better every day. �Amir is an extraordinary bowler.�On a question about the fact that the team was playing old fashioned cricket, he said, �If we were playing old fashioned cricket we would not have been able to score 180 or 200 runs.�
 West Indies maintained their winning streak defeating South Africa by three wickets in the Super Ten Group One match of the World Twenty20 here at the Vidarbha Cricket Association Stadium on Friday night.Chasing an easy target of 123, they completed their third consecutive victory, with two balls remaining, to qualify for playing the semi-finals.Their main scorers were Marlon Samuels (44) and Johnson Charles (32) while no other batsman could make any significant contribution.For South Africa, leg-spinner Imran Tahir was the most successful bowler with two for 13. He grabbed both wickets on successive deliveries.Earlier, South Africa were restricted to 122 runs for eight wickets after sent into bat by West Indies captain Darren Sammy.South Africa batsmen could not resist against the South African bowlers as only four batsmen got into the double-figures.Opener Quinton de Kock top scored with a solid 47, hitting three fours and a six. He was followed by David Wiese, who scored a fine innings of 28.Chris Gayle, Dwayne Bravo and Andre Russell claimed two wickets each for West Indies.
 Pakistan skipper Shahid Afridi will go back home before deciding whether to retire from international cricket after his team lost to Australia and were eliminated from the World Twenty20 on Friday.Australia beat Pakistan by 21 runs in Mohali and Afridi, who had hinted before the game that retirement was imminent, said he has not yet made a final decision to call it quits."I�m going to go back home and in the next four-five days I will take a decision and whatever is better for the country, I will go with that. I think I will announce this in my country," the 36-year-old told reporters. "As a player I�m fine but as a captain I�m not fit because it�s not easy to handle the pressure, especially if you are playing for Pakistan�the expectation pressure, the media pressure, everything."Afridi, whose team lost three of their four games to finish behind arch-rivals India, Australia and New Zealand in Group Two, found few positives in Pakistan�s performance.Australia skipper Steven Smith guiding his team to 193-4 with an unbeaten 63 and James Faulkner took five wickets to send Pakistan out."I think honestly speaking we were not good enough," Afridi said. "I think we didn�t play good cricket and if you look at the bowlers they�ve really done well but, later on, in the last four overs, we gave 40 runs so it�s not good enough if you�re playing against a world-class team."Australia, chasing an elusive first World Twenty20 title and level on four points with India, face the host nation in Mohali on Sunday in a game that will decide their fate."We�ve just got to keep on winning," Smith said. "We�ve got three more games if we want to win the World Cup and that�s our goal. It�s going to be a tough game in a couple of days time against India."They are a world-class side and play extremely well in these conditions, so hopefully we can keep playing some good cricket and give them a run for their money."
 South Africa were restricted to 122 runs for eight wickets by West Indies in their Super Ten Group One match of the World Twenty20 here at the Vidarbha Cricket Association Stadium on Friday night.Sent into bat by West Indies captain Darren Sammy, South Africa batsmen could not resist against the South African bowlers as only four batsmen got into the double-figures.Opener Quinton de Kock top scored with a solid 47, hitting three fours and a six. He was followed by David Wiese, who scored a fine innings of 28.Chris Gayle (2-17), Dwayne Bravo(2-20) and Andre Russell (2-28) were the successful bowlers for the for the West Indies.
 West Indies captain Darren Sammy won the toss and opted to bowl against South Africa here on Friday night.Left-arm spinner Aaron Phangiso, making his first international appearance in five months - and the first with a remodeled action - formed part of an attack that featured two specialist spinners - a rarity in South African cricket - and only one frontline seamer.Kagiso Rabada led a pace pack that included allrounders David Wiese and Chris Morris, but did not have space for either Kyle Abbott or Dale Steyn.South Africa also made a change in the batting line-up, after JP Duminy was ruled out with a hamstring injury. Rilee Rossouw was included to bolster the batting.West Indies stuck to their combination of two spinners and three seamers. With Chris Gayle declared fit, he led the line-up.South Africa: Quinton de Kock (wk), Hashim Amla, Faf du Plessis (captain), AB de Villiers, Rilee Rossouw, David Miller, David Wiese, Chris Morris, Aaron Phangiso, Kagiso Rabada, Imran TahiWest Indies: Chris Gayle, Johnson Charles, Andre Fletcher, Marlon Samuels, Dinesh Ramdin (wk), Andre Russell, Dwayne Bravo, Darren Sammy (captain), Carlos Brathwaite, Samuel Badree, Sulieman Benn�
 Pakistan were finally out of the World Twenty20 after another dismal �performance in their last group match here at the Punjab Cricket Association IS Bindra Stadium on Friday.Chasing an improbable target of 194, Pakistan were never really in control of the asking rate throughout the chase as they could make 172 for eight.Now, Australia, securing four points from three matches, have to beat India at the same venue on March 27 to get into the semi-finals.This was the third successive defeat for Pakistan after a 55-run win against Bangladesh. They were beaten by six wickets against India, 22 runs against New Zealand and now 21 runs against Australia.Left-arm pacer James Faulkner devastated Pakistan with his career-best five for 27 while leg-spinner Adam Zampa bagged two wickets and seamer Josh Hazlewood took one.For Pakistan, Khalid Latif top-scored with 46, followed by Shoaib Malik with an unbeaten 20 ball-40, Umar Akmal (32) and Sharjeel Khan (30).Captain Shahid Afridi struck two sixes in his seven-ball 14 while Imad Wasim and Wahab Riaz got ducks. Sarfraz Ahmed and Ahmed Shehzad were dismissed for two and one, respectively.Earlier, Australia lost three early wickets for 57 after captain Steven Smith won the toss and opted for batting.Usman Khawaja (21) and David Warner (9) were clean bowled by fast bowler Wahab Riaz while Aaron Finch (15) was bowled by left-arm spinner Imad Wasim.However, Smith along with Glenn Maxwell and later with Shane Watson lifted Australia to a huge total of 193 for four, their second highest against Pakistan in a T20 International, after 197-7 at Gros Islet in May 2010.Smith made an unbeaten 61off 43 balls with seven fours while Maxwell scored 30 off 18 balls with three fours and a six before Imad got him out.Both added 62 runs for the fourth wicket and then Smith added another 74 runs for an unbeaten fifth wicket stand with the soon-to-retire Shane Watson, who also remained not out on 44 from 21 balls after hitting three sixes and four boundaries.For Pakistan, Wahab and Imad claimed two wickets each while pacers Amir Khan, Mohamamd Sami and leg-spinner Afridi failed to get any wicket. 
 Steven Smith, leading from the front, guided Australia to an imposing total of 193 for four against Pakistan in their crucial match in the World Twenty20 Super Ten Group Two here at the Punjab Cricket Association IS Bindra Stadium on Friday.Australia lost three early wickets for 57 after captain Smith won the toss and �decided to bat first on the pitch with additional bounce.Usman Khawaja (21) and David Warner (9) were clean bowled by fast bowler Wahab Riaz while Aaron Finch (15) was bowled by left-arm spinner Imad Wasim.However, Smith along with Glenn Maxwell and later with Shane Watson lifted Australia to set a difficult target of 194 runs for Pakistan, who must win to stand any chance of staying in the tournament while an Australian victory would ensure that they do not need to worry about net run-rate ahead of their clash with India.This was the second highest total by Australia against Pakistan in a T20 International, after 197-7 they made at Gros Islet in May 2010.Smith made an unbeaten 61off 43 balls with seven fours while Maxwell scored 30 off 18 balls with three fours and a six before getting out, caught by Ahmed Shehzad off Imad.Both added 62 runs for the fourth wicket partnership and then Smith added another 74 runs for an unbeaten fifth wicket stand with the soon-to-retire Shane Watson, who also remained not out on 44 after hitting three sixes and four boundaries in a 21-ball innings.For Pakistan, Wahab and Imad claimed two wickets each while pacers Amir Khan, Mohamamd Sami and leg-spinner Shahid Afridi failed to get any wicket.�
 Australia won the toss and elected to bat first in crucial match against Pakistan in World Cup Twenty20 at Mohali.</strongWinning the toss, Australian skipper Steven Smith said they have two changes. Finch in for Mitch Marsh and Hazlewood for Hastings.Shahid Afridi said, �I think batting first is good idea, but does not matter. Today's match is more important for us. The boys know the importance for this game.�He said Mohammad Irfan is resting and Wahab Riaz is back.On retirement, Afridi said, �I haven't taken any decision. I will do it in front of my nation.�strong>Teams:</strongAustralia: UT Khawaja, AJ Finch, DA Warner, SPD Smith (Captain), SR Watson, GJ Maxwell, JP Faulkner, PM Nevill, A Zampa, NM Coulter-Nile, JR HazlewoodPakistan: Ahmed Shehzad, Sharjeel Khan, Rashid Latif, Umar Akmal, Shoaib Malik, Sarfraz Ahmed, Shahid Afridi (Captain), Imad Wasim, Mohammad Amir, Wahab Riaz, Mohammad Sami
 Johan Cruyff, one of football's greatest players and most influential and visionary coaches, died aged 68 on Thursday after a five-month battle with lung cancer.</strongThe death of the Dutchman, whose creative genius on the pitch and inventive brilliance as a coach changed the modern game, prompted an outpouring of tributes to a figure hailed as doing more than anyone to "to make the beautiful game beautiful".In his heyday in the early 1970s, Cruyff, slender, quick-witted and outrageously gifted, helped a generation of football fans across the world see the game in a different light.Unquestionably the best player in the world in that period, he was voted three times winner of the prestigious Ballon d'Or so that he is now often mentioned alongside the pair widely considered the finest to have played the game, Pele and Diego Maradona.Brazilian Pele said on Thursday: "Johan Cruyff was a great player and coach. He leaves a very important legacy for our family of football. We have lost a great man."Maradona said: "We will never forget you, mate" while another Argentine Lionel Messi, the world's best current player, added: "Another legend has left us today."Cruyff, who had announced last October that he was suffering from lung cancer, had said only last month that he was "2-0 up in the first half" of his battle against the disease.Poignantly, that turned out to be one of the last public statements made by the sage whose observations on the modern game were eagerly courted in global football, with his weekly column for De Telegraaf newspaper a must-read until the end.Cruyff died surrounded by his friends and family at his home in Barcelona, according to his official website.The news prompted eulogies from his home country with Mark Rutte, the Dutch prime minister, saying: "The whole world knew him and, through him, the world knew the Netherlands."The Netherlands' international against France on Friday in Amsterdam will be halted for a minute-long silence after 14 minutes in tribute to Cruyff, who wore the number 14 in his playing days.In his adopted home of Barcelona, though, the loss was just as keenly felt with Cruyff having become an iconic figure in the Catalan city, where their current world-beating team, featuring Messi, still bears the hallmarks of his attacking invention.As Pep Guardiola, one of his successful and influential successors as Barcelona coach, said: "He painted the chapel and Barcelona coaches since have merely restored or improved it."�
 New Zealand Women produced a clinical performance to knock South Africa out of the tournament, after a resounding seven-wicket win at M Chinnaswamy Stadium on Saturday night.New Zealand hunted down the target of 100 with 33 balls to spare after bowling South Africa out in the last over. With this result, Australia join New Zealand in the semi-finals from Group A.South Africa's openers - Trisha Chetty and Dane van Niekerk - added 21 after being inserted, but the New Zealand bowlers kept chipping away thereafter.Marizanne Kapp anchored the middle overs with a steady 22, but substantial partnerships were hard to come by.Just as South Africa were looking for a late surge, they lost their five wickets for nine runs in the space of 11 balls, with Sophie Devine taking three of them in the penultimate over of the innings.Leigh Kasperek contributed with three wickets to become the tournament's highest wicket-taker, with nine scalps.Suzie Bates, the competition's leading run-scorer, and her opening partner Rachel Priest, the third highest on the run charts, added 57 in just 50 balls to effectively kill the game. Both fell within the space of two overs, though, and Kapp trapped Sara McGlashan soon after, but it was too late.Devine provided the finishing touches with a 17-ball 27, an innings that featured three fours and a six.�
 England have qualified for the semi-finals after defeating Sri Lanka by ten runs in Super Ten Group One match of the World Twenty20 here at Feroz Shah Kotla ground on Saturday night.Chasing a daunting target of 172, Sri Lanka made a disastrous start losing four early wickets for just 15 runs.However, captain Angelo Mathews came to rescue and along with Chamara Kapugedera took the team out of trouble, adding 80 runs for the fifth wicket stand.Then after Kapugedera�s exit after scoring 30, Mathews found another partner in Thisara Perera and added further 37 runs with him before Perera departed after making 20 off 11 balls.Now Sri Lanka needed 35 runs with four wickets in hand, and Mathews, having completed his fifty, was still at the crease. Dasun Shanaka joined him and both took the score to 155 but two wickets fell in the 19th over - Shanaka and then Herath were gone.In the final over, they needed 15 runs to win but Ben Stokes bowled intelligently to concede only four runs and England emerged victorious in the end.Mathews remained not out on 73. He faced 54 balls and struck five sixes and three fours.Chris Jordan was the most successful bowler for England taking four for 28 while David Willey got two for 26.Earlier, England made 171 for four after being sent into bat, thanks to Jos Buttler, who scored an unbeaten 66 from 37 balls with eight fours and two sixes.Buttler, the top-scorer, remained not out on 66. He struck eight fours and two sixes in his 37-ball innings.Jason Roy also batted well, scoring 42 with three fours and two sixes.
 England set a daunting target of 172 runs for Sri Lanka in the Super Ten Group One match of the World Twenty20 here at the Feroz Shah Kotla ground on Saturday night.Sent into bat by Sri Lanka captain Angelo Mathews, England lost Alex Hales for naught in only the second over but Jason Roy and Joe Root tackled the situation very well and added 61 runs for the second wicket before Root was dismissed for 25.Roy also departed after adding 23 runs with Joss Buttler. He made 42 with three fours and two sixes.Then Buttler and Morgan took their stand to the final over when Morgan was run out for 22. They added 74 runs for the fourth wicket partnership.Ben Stokes found only one ball, final ball of the over, to hit a towering six as England finished on 171 for four.Buttler, the top-scorer, remained not out on 66. He struck eight fours and two sixes in his 37-ball innings.Leg-spinner Jeffrey Vandersay claimed two wickets for 26 and left-arm spinner Rangana Herath took one for 27.����
 �Sri Lanka captain Angelo Mathews won the toss and chose to bowl against England in Super Ten Group One match of the World Twenty20 here at Feroz Shah Kotla ground on Saturday night.There was no Sachithra Senanayake, who has an outstanding record against England in one-day cricket with 14 wickets at 14.57 in ODIs. Nuwan Kulasekara was also omitted in favour of allrounder Dasun Shanaka.Alex Hales, who has recovered from a back complaint, replaced James Vince at the top of the England order.Defending champions Sri Lanka have to win to stay alive - barring the unlikely event of a no-result - leaving everything dependent on a final group game against South Africa. With just one game remaining, England will book their berth in the semi-finals with a victory, but a loss - by any margin - will see them eliminated since their net run rate is lower than that of South Africa.Teams:England: Jason Roy, Alex Hales, Joe Root, Jos Buttler (wk), Eoin Morgan (captain), Ben Stokes, Moeen Ali, Chris Jordan, David Willey, Adil Rashid, Liam PlunkettSri Lanka: Dinesh Chandimal (wk), Tillakaratne Dilshan, Milinda Siriwardana, Lahiru Thirimanne, Angelo Mathews (captain), Chamara Kapugedera, Thisara Perera, Dasun Shanaka, Rangana Herath, Dushmantha Chameera, Jeffrey Vandersay 
 Bangladesh were bundled out for 70, their lowest total in Twenty20 Internationals, as New Zealand recorded their fourth consecutive victory in Group Two of the World Twenty20 here at Eden Gardens on Saturday.Chasing 146, Bangladesh batsmen could not resist against New Zealand bowlers and were all out for 70 in 15.4 overs.Only three batsmen could get into the double-figures as the highest individual score was 16 not out, by Shuvagata Hom.Pace bowler Grant Elliott and leg-spinner Ish Sodhi claimed three wickets each for 12 and 21, respectively.Earlier, New Zealand managed to score 145 for eight despite a remarkable bowling performance by left-arm pacer Mustafizur Rahman, who captured five wickets for just 22 runs in his four overs.These were his best bowling figures in T20 Internationals and also the best for any bowler in this World T20. This is the second best bowling performance by any Bangladeshi bowler after Ilyas Sunny�s five for 13.The main scorers for New Zealand were Williamson (42), Colin Munro (35) and Ross Taylor (28).Bangladesh�s previous lowest total was also against New Zealand �- 78 in Hamilton in 2010.New Zealand had played their first three Super 10s matches at three different venues and had read all those conditions perfectly. They came to Kolkata and did it again, to go into the semi-finals with a clean sheet.So New Zealand go into the semis with four wins, and Bangladesh go home with four defeats.�
 Australia recorded a convincing seven-wicket victory against Ireland in their last group match in the Women�s World Twenty20 here at Feroz Shah Kotla ground on Saturday.In a dominant chase, Australia completed the victory with seven wickets and 40 balls to spare.Elyse Villani made 43 with the help of six fours while Ellyse Perryremained not out on 29.Ireland did not have enough with the ball and were not helped with just 91 for seven on the board.Now, Australia are level with NZ on points but have finished their group games.NZ play later today and a win for them will help Australia book a spot in the semis.Australia�s Megan Schutt was declared the Player of the Match for her excellent bowling performance.
 Australia restricted Ireland to 91 for seven in their Group A match of the Women�s World Twenty20 here at Feroz Shah Kotla ground on Saturday.Pace bowlers Megan Schutt captured three wickets for 29 and Rene Farrell bagged two for 11 after their captain Meg Lanning won the toss and put Ireland women into bat.Only three top-order batters could get into the double figures. They were Clare Shillington (22), Cecelia Joyce (23) and Kim Garth (27).
 New Zealand set a moderate target of 146 runs for Bangladesh in the Super Ten Group Two match of the World Twenty20 here on Saturday.Batting first after their captain Kane Williamson won the toss, New Zealand found it difficult to make runs on a slow pitch of the Eden Gardens. �However, they managed to score 145 for eight despite a remarkable bowling performance by left-arm pacer Mustafizur Rahman, who captured five wickets for just 22 runs in his four overs.These were his best bowling figures in T20 Internationals and also the best for any bowler in this World T20. This is the second best bowling performance by any Bangladeshi bowler after Ilyas Sunny�s five for 13.The main scorers for New Zealand were Williamson (42), Colin Munro (35) and Ross Taylor (28).New Zealand, already through to the semi-finals with three wins in as many matches, made two changes to their side from their last game against Pakistan.They included an extra spinner in Nathan McCullum for paceman Adam Milne while Henry Nicholls came in for the in-form Martin Guptill, who was rested.Bangladesh, bottom of Group Two and seeking their first win in the group stages, made no changes to the team that lost to India by one run in a thriller in Bangalore on Wednesday.
 New Zealand skipper Kane Williamson won the toss and opted to bat against Bangladesh in their World Twenty20 Super 10 stage match at the Eden Gardens on Saturday.</strongNew Zealand, already through to the semi-finals with three wins in as many matches, made two changes to their side from their last game against Pakistan.They included an extra spinner in Nathan McCullum for paceman Adam Milne while Henry Nicholls came in for the in-form Martin Guptill, who was rested."It looks like a very dry surface with not too much grass and hopefully it brings our spinners into play in the second innings," Williamson said at the toss."I think it�s important that your feet are firmly on the ground.Making sure we adapt and play smart cricket is important."Bangladesh, bottom of Group Two and seeking their first win in the group stages, made no changes to the team that lost to India by one run in a thriller in Bangalore on Wednesday.Captain Mashrafe Mortaza said he would also have batted first had he won the toss."I think we have to bowl in the right areas and restrict them to a good total so that we can chase it down later," Mortaza added.
 Virat Kohli smashed a masterful 82 to guide India to a six-wicket win against Australia in their final World Twenty20 Super 10 game on Sunday and set up a semi-final against West Indies in Mumbai.Kohli resurrected India with his unbeaten 51-ball knock from a seemingly tricky position as the hosts sprinted home in the end with five balls to spare.India�s bowlers pulled Australia back from a blistering start to restrict them to 160 for six wickets after Australia won the toss and opted to bat.Hosts India, inaugural World T20 champions in 2007, and reigning 50-over title holders Australia had won two matches each, with their only loss coming against New Zealand in the Super 10 stage.New Zealand face England in the other semi-final.India needed 39 from the last three overs when Kohli decided to show his class which has earned him accolades as one of the world�s best current batsmen.He smashed James Faulkner, who took Australia�s best T20 figures during a five-wicket haul in the last match, for two fours and a six as the left-arm paceman leaked 19 runs.Kohli then hit Nathan Coulter-Nile for four boundaries in the next over to bring down India�s target to just four runs off the final six balls with captain Mahendra Singh Dhoni finishing it off with another four off Faulkner.Earlier, Australia�s Aaron Finch (43) and Usman Khawaja (26) smashed the bowlers to all corners of the ground after Smith decided to bat on a pitch that was used for the women�s game between India and West Indies earlier on Sunday.Left-handed Khawaja�s first six scoring shots were all boundaries, four of them coming against paceman Jasprit Bumrah in one over, with Australia racing past 50 before the completion of the fourth over.Finch, Australia�s captain in the format before he was replaced by Smith shortly before the tournament, then launched into India�s bowling mainstay Ravichandran Ashwin, hitting the off-spinner for two consecutive sixes over long-on.But some smart bowling from left-arm spinner Ravindra Jadeja and part-timers Yuvraj Singh and Hardik Pandya, who picked up two wickets, in the middle overs halted Australia�s progress as they struggled to hit the boundaries.Dangerman Glenn Maxwell (31) took his time at the crease but got out just as he started opening his arms.Wicketkeeper Peter Nevill smashed Pandya for a four and a six off the last two balls as Australia, yet to win the World T20 title, took 15 runs in their final over to ensure India had to score more than eight runs an over in their chase.
 Pakistan women were outclassed by England who have qualified to play the semi-finals in the Women�s World Twenty20.Chasing a tough target of 149, Pakistan women could make only 80 runs to give England a convincing 68-run victory in their last group match here at the MA Chidambaram Stadium on Sunday night.None of the batters could get into the double-figures except Nida Dar (16), Nahida Khan (15), Asmavia Iqbal (15) and captain Sana Mir (11). �For England, Laura Marsh captured three wickets for 12 runs while Georgia Elwiss, Anya Shrubsole and Natalie Sciver claimed two wickets each for nine, 16 �and 22, respectively.Earlier, England posted 148 for five after winning the toss as captain Charlotte Edwards opened the innings herself with Tammy Beaumont and both provided a sound start of 68 from nine overs.Then off-break bowler Nida Dar made a breakthrough taking three quick wickets within and England reached 89-3.Danielle Wyatt joined Edwards to add 59 runs but two wickets fell in the final over as England Women finished their innings on 148-5.Edwards remained not out on 77 as her 61-ball innings was laced with ten fours while Beaumont made 37.For Pakistan Women, Nida Dar captured three wickets for 21 runs and seamer Asmavia Iqbal took two for 18.
 Australia set a daunting target of 161 runs for India in the crucial Super Ten Group Two match of the World Twenty20 here at the Punjab Cricket Association IS Bindra Stadium on Sunday night.Winning the toss, Australia captain Steven Smith chose to bat in their quasi quarter-final against India and posted 160 runs for the loss of six wickets.Their main scorers were Auron Finch (43), Glenn Maxwell (31) and Usman Khawaja (26) while Shane Watson remained not out on 18.For India, seamer Hardik Pandya claimed two wickets.Both teams had beaten Bangladesh and Pakistan, and lost to New Zealand, which made the clash a straight knockout contest. The winner will progress to the semi-final along with New Zealand.�
 England posted 148 for five against Pakistan in their last match in the Women�s World Twenty20 here at MA Chidambaram Stadium, Chepauk on Sunday night.Winning the toss, England captain Charlotte Edwards decided to bat first and opened the innings herself with Tammy Beaumont. Both provided a sound start of 68 from nine overs.Then off-break bowler Nida Dar made a breakthrough taking three quick wickets within and England reached 89-3.Danielle Wyatt joined Edwards to add 59 runs but two wickets fell in the final over as England Women finished their innings on 148-5.Edwards remained not out on 77 as her 61-ball innings was laced with ten fours while Beaumont made 37.For Pakistan Women, Nida Dar captured three wickets for 21 runs and seamer Asmavia Iqbal took two for 18.
 Steven Smith won the toss and chose to bat in Australia's quasi quarter-final against India in the Super Ten Group Two match of the World Twenty20 here at the Punjab Cricket Association IS Bindra Stadium on Sunday night.Both captains named unchanged teams, Australia resisting the temptation to tweak their side after beating Pakistan, and India now going through the group stage with the same XI in each match.Smith said the pitch looked good for batting but might slow up later in the game, and MS Dhoni said he too would have batted had he won the toss. "It looks like a surface that the batsmen will love," Dhoni said. "But it depends, how well it comes off the wicket."Both teams had beaten Bangladesh and Pakistan, and lost to New Zealand, which made the clash a straight knockout contest. The winner will progress to the semi-final along with New Zealand.India: Rohit Sharma, Shikhar Dhawan, Virat Kohli, Suresh Raina, Yuvraj Singh, MS Dhoni (captain &amp; wk), Hardik Pandya, Ravindra Jadeja, R Ashwin, Jasprit Bumrah, Ashish NehraAustralia: Usman Khawaja, Aaron Finch, David Warner, Steven Smith (captain), �Glenn Maxwell, Shane Watson, James Faulkner, Peter Nevill (wk), Adam Zampa, Nathan Coulter-Nile, Josh Hazlewood.
 Not even the support of a festive home crowd and conditions they thrive could inspire India Women as they slumped to a three-run loss to West Indies Women in Mohali.The defeat brought the curtains down on India's disappointing World Twenty20 campaign.Jhulan Goswami, who bowled all of two overs on a slow surface, kept India alive with a few lusty blows that brought the equation down to 20 off the last two overs.Tension engulfed the PCA Stadium, but a crowd that was on tenterhooks roared in delight as the third ball of the penultimate over sailed over long-on to bring it down to 12 off nine balls.But her run-out off the next delivery, once again, meant the pendulum swung West Indies' way. Deandra Dottin, who ensured West Indies were in with a chance by making 45 off 40 balls in the team's total of 114 for 8, then showed immaculate death-bowling skills to leave India short-changed.Shikha Pandey, who carved a boundary over point to bring it down to five off three balls was run-out off the next delivery to effectively dash India's hopes.India landed the early punches and weakened West Indies to 26 for 3 as the contest was reduced to a battle of spin attacks.The hosts then switched off for a bit, only to see Stafanie Taylor and Dottin regain lost ground, and then lift West Indies with a fourth-wicket partnership of 77.The stand helped West Indies post a total of 114 for 8, challenging, but by no means impossible.�
 Cricket minnows Afghanistan made a great upset in the World Twenty20 when they defeated the West Indies by six wickets in the 30th match of the tournament here at the Vidarbha Cricket Association Stadium on Sunday.Both the teams were playing against each other for the first time in a T20 International.������������������������������������������������������������������������������������������������������ �����������������Chasing 124, West Indies could reach 117-9 in 20 overs to give Afghanistan their first victory of the world T20.The main scorers for the West Indies were Dwayne Bravo (28), Johnson Charles (22) and Dinesh Ramdin (18).Afghan spinners Mohammad Nabi and Rashid Khan claimed two wickets each.Earlier sent into bat, Afghanistan made 123 runs for seven wickets in their 20 overs.Najibullah Zadran top scored with an unbeaten 48, which he made off 40 balls with four fours and a six.Opener Mohammad Shahzad (24) and captain Asghar Stanikzai (16) were the only two other batsmen to get into the double figures.For West Indies, leg-spinner Samuel Badree captured three wickets for 14 runs and fast bowler Andre Russell bagged two for 23.
 West Indies made 114 runs for the loss of eight wickets against India in their Group A match of the Women�s World Twenty20 here at the Punjab Cricket Association IS Bindra Stadium on Sunday.Sent into bat by India, West Indies made a disastrous start, losing three wickets for just 26 runs in seven.However a 77-run fourth wicket partnership between Stafanie Taylor and Deandra Dottin took the team past 100 but the latter batters could not accelerate the run rate.Taylor made 47 and Dottin scored 45 and both struck five fours each.Pace bowler Harmanpreet Kaur bagged four wickets for 23 runs and off-break bowler Anuja Patil claimed three for 16 while left-arm spinner Ekta Bisht took one wicket for India.
 Afghanistan set 124-run target for West Indies in the 30th match of the World Twenty20 here at the Vidarbha Cricket Association Stadium on Sunday.West Indies captain Darren Sammy, winning the toss, sent Afghanistan to bat and his bowlers restricted them to 123 runs for seven wickets in their 20 overs.Najibullah Zadran batted with responsibility to take his team to some respectable total. He remained not out on 48, which he made off 40 balls with four fours and a six.Opener Mohammad Shahzad (24) and captain Asghar Stanikzai (16) were the only two other batsmen to get into the double figures.For West Indies, leg-spinner Samuel Badree captured three wickets for 14 runs and fast bowler Andre Russell bagged two for 23.Chris Gayle was rested and was replaced by Evin Lewis, who made his T20I debut while Afghanistan made two changes - Usman Ghani and Hamid Hassan came in for Noor Ali Zadran and Shapoor Zadran.Having beaten England, Sri Lanka and South Africa, West Indies are guaranteed top spot in Group 1 unless they lose to Afghanistan by an improbable margin. They are all but set to play their semi-final in Mumbai, against either Australia or India.�
 West Indies captain Darren Sammy won the toss and decided to bowl against Afghanistan in the Super Ten Group One match of the World Twenty20 here at the Vidarbha Cricket Association Stadium on Sunday.Sammy did not want to change the strategy that has been working for his side in this World T20. West Indies have won all their group matches chasing.Chris Gayle was rested and was replaced by Evin Lewis, who made his T20I debut while Afghanistan made two changes - Usman Ghani and Hamid Hassan came in for Noor Ali Zadran and Shapoor Zadran.Having beaten England, Sri Lanka and South Africa, West Indies are guaranteed top spot in Group 1 unless they lose to Afghanistan by an improbable margin. They are all but set to play their semi-final in Mumbai, against either Australia or India.Afghanistan: Mohammad Shahzad (wk), Usman Ghani, Asghar Stanikzai (captain), Gulbadin Naib, Rashid Khan, Mohammad Nabi, Samiullah Shenwari, Najibullah Zadran, Shafiqullah, Amir Hamza, Hamid HassanWest Indies: Johnson Charles, Evin Lewis, Andre Fletcher, Marlon Samuels, Dwayne Bravo, Andre Russell, Darren Sammy (captain), Carlos Brathwaite, Denesh Ramdin, Samuel Badree, Sulieman Benn
 South Africa comfortably won by eight wickets against Sri Lanka in the last league match of the World Twenty20 here at the Feroz Shah Kotla ground on Monday.Chasing an easy target of 121, they completed their win with 14 balls remaining.Hashim Amla, who opened the innings, batted through to steer South Africa to victory in dead rubber.He remained not out on 56, hitting five fours and a six while AB de Villiers lofted �the towering winning six, his second in his unbeaten 20.Amla was involved in second wicket partnership of 60 runs with his captain Faf du Plessis and then in an unbeaten third wicket stand of 47.Faf du Plessis made 31 before Quinton de Kock was run out for nine.Earlier, Sri Lanka were all out for 120 in 19.3 overs after being sent into bat.Stand-in captain Dinesh Chandimal (21) and Tillakaratne Dilshan (36) provided a good start of 45 but later their wickets fell with regular intervals as only two more batsmen could get into the double figures.Milinda Siriwardana made 15 runs while Dasun Shanaka remained not out on 20.For South Africa, pace bowlers Kyle Abbott and Farhaan Behardien, and left-arm spinner Aaron Phangiso claimed two wickets each while fast bowler Dale Steyn and leg-spinner Imran Tahir took one wicket each.Dinesh Chandimal captained Sri Lanka in the absence of Angelo Mathews, who was ruled out with a hamstring injury.
 Sri Lanka were all out for 120 in 19.3 overs against South Africa in a dead rubber last league match of the world Twenty20 here at the Feroz Shah Kotla ground on Monday.Sent into bat, captain Dinesh Chandimal (21) and Tillakaratne Dilshan (36) provided a good start of 45 but later their wickets fell with regular intervals as only two more batsmen could get into the double figures.Milinda Siriwardana made 15 runs while Dasun Shanaka remained not out on 20.For South Africa, pace bowlers Kyle Abbott and Farhaan Behardien, and left-arm spinner Aaron Phangiso claimed two wickets each while fast bowler Dale Steyn and leg-spinner Imran Tahir took one wicket each.Dinesh Chandimal is leading Sri Lanka in the absence of captain Angelo Mathews, who was ruled out with a hamstring injury.
 Sri Lanka Women captain Chamari Atapattu willed and rallied her side to a 10-run victory over South Africa Women in Bangalore, in the last league match of the Women's World T20.Atapattu first stroked her maiden T20 fifty, which contained five fours and one six, even as her partners floundered. Atapattu then brought herself into the attack in the defence of 114 and her second over resulted in two wickets. She ran to her right from her follow through, collected a wristy push from Trisha Chetty and flung a throw to the keeper to catch Dane van Niekerk short for 24 off 31 balls. Three balls later, Atapattu pinned her opposite number Mignon du Preez plumb in front for a duck, a wicket the Sri Lanka captain identified as the "turning point" at the post match-presentation.Left-arm spinner Sugandika Kumari and left-arm pacer Udeshika Prabodhani backed Atapattu to squeeze South Africa's middle order. From 50 for 0, South Africa slumped to 102 for 7. Du Preez said: "We had a good start and we lost it in the middle order. We have been struggling with it in the whole tournament. It was also poor execution from us. This is something we need to work on and come back stronger."Prabodhani speared in full balls and defended 12 off the last over, including taking the wicket of Chloe Tryon for 11 off 10 balls. Though it was only a dead rubber, Sri Lanka toasted the win, and got into a huddle only after wicketkeeper-batsman Dilani Manodara had joined the side from the dug out.Manodara was pinged on the grille of the helmet when he missed a scoop off her first ball. She scratched around for 4 off 9 balls, before she was bowled by seamer Marcia Letsoalo. She was later sent to the hospital for a scan, and it was found that she had no major injuries.Sri Lanka's middle order folded as well and they managed only 34 for 4 in their last five overs. Atapattu, however, had lifted Sri Lanka with a bevy of muscled slog sweeps. She hit 52 off 49 balls before she was run out by Marizanna Kapp who was featuring in her 50th T20 international. She picked up two wickets and was complemented by legspinner Sunne Luus who also scalped two wickets.But Attapattu's act proved to be too much for South Africa. 
 South Africa captain Faf du PLessis won the toss and opted to bowl against Sri Lanka in the last group match of the World Twenty20 here at the Feroz Shah Kotla ground on Saturday night.Dinesh Chandimal is leading Sri Lanka in the absence of Angelo Mathews, who has been ruled out with a hamstring injury.Sri Lanka have made two changes in their team as Suranga Lakmal and Shehan Jayasuriya came in place of Mathews and Dushmantha Chameera, who also sustained a blow to a finger.South Africa have made three changes. � Dale Steyn is back in place of Kagiso Rabada, who is �resting, Kyle Abbott has replaced Chris Morris, who has back stiffness while Farhaan Behardien has replaced Rilee Rossouw.South Africa: Hashim Amla, Quinton de Kock (wk), Faf du Plessis (captain), AB de Villiers, David Miller, Farhaan Behardien, Kyle Abbott, Aaron Phangiso, Dale Steyn, Imran Tahir.Sri Lanka: Dinesh Chandimal (captain &amp; wk), Tillakaratne Dilshan, Milinda Siriwardana, Lahiru Thirimanne, Chamara Kapugedara, Shehan Jayasuriya, Thisara Perera, Dasun Shanaka, Rangana Herath, Jeffrey Vandersay, Suranga Lakmal
 �Indian great Sachin Tendulkar remains the gold standard of batting in the post-Bradman era but Virat Kohli�s latest masterclass in Sunday�s World Twenty20 shootout against Australia has prompted comparisons with his famous compatriot.</strongNot for the first time in the tournament, it took Kohli�s masterly knock to get India across the line in a virtual quarter-final against the reigning 50-overs world champions.Kohli remained unbeaten after a sublime 82, burnishing his reputation as arguably the best chaser in limited-overs cricket with a knock that reminded many of Tendulkar�s 143 against Australia in a 1998 one-dayer at Sharjah dubbed "desert storm".Shane Warne was at the receiving end of Tendulkar�s wrath in that match and 18 years since the contest, the Australian spin great saw Tendulkar�s shadow in Kohli�s latest knock."Great knock by @imVkohli Reminded me of one of your many special innings buddy," Warne tweeted to his great rival Tendulkar after Kohli secured India a place in the semi-finals on Sunday.Kohli bejewelled his knock with two sixes and nine boundaries and sprinted tirelessly between wickets in a flawless display of limited overs batting under tremendous pressure.He middled every ball, timed his shots with surgical precision and found gaps with eerie regularity to stamp his class."Of the modern players, I�ve always thought that Brian Lara was the best placer of the ball," former Australia captain Ian Chappell said. "I think I have got Brian in second spot now.LARA�S PRAISEThe West Indian batting great was also bowled by what he saw and requested videos of Kohli�s early days, hailing the Indian as the "best timer of a cricket ball" that he has seen.At 27, Kohli stands on the brink of batting greatness with 36 international centuries against his name and averages of 44 in tests, 51 in one-dayers and 55 in Twenty20 matches.It has been a fascinating transformation of a Delhi cricketer perceived initially as yet another brash brat from the streets of a city long accused of inculcating aggression in its youth.Since Kohli�s international debut in a one-dayer against Sri Lanka eight years ago, Mahendra Singh Dhoni has closely watched the tattoo-wearing, blunt-speaking, heart-on-his-sleeve youngster transform into a mature match-winner.Kohli hates the idea of an on-field confrontations that doesn�t include him and Dhoni argued it suits the player who succeeded him as India�s test captain."He will always be the same," Dhoni said after the victory in Mohali. "He will be an aggressive character who will be ready to take on challenges and he will be aggressive on the field."But he will also improve. He is shifting in the right direction but he is a tremendous character. He should not lose his character because that�s what his strength is.
 The outgoing all�rounder has signed off in style from international cricket after the latest ICC player rankings.Shane Watson has finished his international career as the No.1 ranked T20 all-rounder in the world according to the International Cricket Council�s player rankings announced on Tuesday.With strong performances with both and ball in the World T20, Watson retained his spot at the top of the all-rounder rankings with 373 points ahead of Bangladeshi Shakib Al Hasan (346 points) and Pakistan T20 captain Shahid Afridi (332).Watson announced mid-tournament that this World Twenty20 would be his last appearance in Australian colours and was influential in his final tournament.After solid performances in his preferred opening position for Australia�s first two World T20 matches, Watson was moved to the unfamiliar spot of six for their last two games but demonstrated his versatility smashing a crucial 44 off 21 against Pakistan and then 18 off 16 against India.He was also vital with the ball, picking up five wickets for the tournament and was the pick of Australia�s bowlers in their loss to India, finishing with 2-23 off four miserly overs.Glenn Maxwell has moved up three spots to be the fourth�ranked T20 all-rounder while David Warner has slipped out of top�10 in the batting rankings to be 14th.Aaron Finch, who was left out of Australia�s side for their first two group matches, has fallen off top perch in the ICC T20 batting rankings as India superstar Virat Kohli, fresh off his match�winning innings to knock Australia out of the World T20, claims top spot.Watson moved up three places to 10th in the batting rankings and is the only other Australian in the top�10.Fellow all-rounder James Faulkner has stormed into the top�10 in the bowling rankings rising 28 spots to eighth position while West Indian leg-spinner Samuel Badree remains the No.1 ranked T20 bowler in the world.<br/> Badree has led the West Indian bowling�attack in the World T20 having picked up six wickets so far and gone at just 5.46 runs per over while Faulkner was Australia�s leading wicket�taker at the tournament.Despite a disappointing group�stage exit, Australia have gone from eighth to sixth in the T20 team rankings as Pakistan and Sri Lanka slip to seventh and eighth, respectively.India remain the top T20 side in the world followed by fellow World T20 semi-finalists New Zealand in second and the West Indies in third.
 Pakistan head coach Waqar Younis has apologized to the nation for team�s poor performance in the World Cup Twenty20 in India.</strongSpeaking to media persons here Tuesday, embattled head coach, "Literally, I clasp my hands and beg for forgiveness. The way we performed...it should not have been like this."Waqar Younis said, �I am ready to leave if my exit will solve the problem,� however, added that it was unfair to blame any single person for the team's poor performance.He went on to say that sacking players or officials will not improve things for Pakistan cricket. �Cosmetic changes will not improve anything. It is imperative to change the system.�He said that he had performed his duties as Pakistan coach honestly, and that if he is held responsible he would step down as coach.Waqar denied reports that there were �groupings� in the Pakistani team that played the WT20 tournament.�There is no politics in the team. The truth is we performed very poorly, so there is no question of groupings,� he said.He left it up to the higher-ups of the Pakistan Cricket Board (PCB) to determine the reasons of the cricket team's inability to perform.
 England skipper Eoin Morgan would like to believe his team peaked at the right time at the ongoing World Twenty20 while New Zealand were slightly premature going into Wednesday�s semi-final at the Feroz Shah Kotla Stadium.</strongKane Williamson and his Kiwi team mates have not put a foot wrong since landing in India, winning all four group matches without really breaking a sweat to qualify for the semi-finals as the tournament�s only unbeaten team.For a side boasting an explosive batting order and a balanced attack to go with, England�s passage proved bumpier.Even before they could soak in the atmosphere, England were blown away by a Chris Gayle century in their tournament opener against West Indies in Mumbai.Joe Root sparked their recovery in the 230-run chase against South Africa but the narrow victory against Afghanistan�s modest resources exposed their frailties against spin bowling.They looked a significantly better side, however, in Saturday�s 10-run win against champions Sri Lanka.Jos Buttler underlined his limited overs worth with a belligerent fifty, the pacemen made regular inroads, Ben Stokes delivered a tidy final over and the team held their nerve to secure a victory that seemed to tick most of the boxes."In these tight tournaments you can�t get through to the semis unless you are playing good cricket, and that�s what we set out to do to give ourselves a chance," coach Trevor Bayliss said."But it�s about peaking at the right time.I wouldn�t say we�ve played the perfect game yet -- coaches are always looking for that absolutely perfect game, I don�t think it�s ever been played -- but it�s what any team is striving to do."Having played their last two games at Kotla, England would also hope to cash in on their familiarity with the venue in contrast to their opponents who were on a mini-tour of India playing each of their four group games at different venues.strong>KIWI ADAPTABILITY</strongThe trouble for England, however, is that New Zealand won all of them as the team, finalists in last year�s 50-over World Cup, strive to shed the tag of being cricket�s perennial bridesmaid.Leading from the front, Williamson has also displayed the tactical flexibility needed to win a tournament like this.New Zealand sprang a surprise in their tournament opener, picking three spinners in a gutsy gamble and went on to beat India, renowned for their batsmen�s comfort against the turning ball, in their own game.Williamson repeated the ploy against Bangladesh in their final group match for a similar result, his immaculate pitch assessment in stark contrast to most of the visiting captains who struggled to read the track as if it was in Braille.Left-arm spinner Mitchell Santner and leg-spinner Ish Sodhi have already forged a formidable partnership for the Kiwis, claiming 17 wickets between them in four matches.And if Williamson has noticed England�s struggle against Afghanistan�s slow bowlers, the Kiwi captain will be tempted to harness Nathan McCullum�s control and accuracy in a three-pronged spin attack.As demonstrated by Martin Guptill, the Kiwi batting does not lack firepower but what was more heart-warming for the fans is how batsmen like Colin Munro have tempered strokes according to situations."It hasn�t been the wham, bam...sort of way that T20 cricket has been," batting coach Craig McMillan said after the victory against Bangladesh in their last group match."They have had to assess it...and have done a really good job of putting the runs on the board to give the bowlers something to work with."
 England defeated New Zealand by seven wickets with 17 balls remaining to qualify for the final of the World Twenty20 here at Feroz Shah Kotla ground on Wednesday night.Chasing a daunting target of 154, England made 159 for three in 17.1 overs when Jos Buttler struck the winning six off Mitchell Santner to deep midwicket to end the New Zealand�s winning streak in the tournament and shattered their hopes of reaching the final for the first time in the World T20.Buttler remained not out on 32 which he made off 17 balls with three towering sixes and two fours while his partner Joe Root scored an unbeaten 27.However, the main architect of England�s victory was opener Jason Roy who top scored with 78. His 44-ball innings was laced with eleven fours and two sixes.Roy provided a sound start of 82 with Alex Hales (20) and then 38 with Root before being bowled out by leg-spinner Ish Sodhi, who then trapped captain Eoin Morgan leg-before off the very next ball. �Earlier, New Zealand being sent into bat, made 153 for eight with Colin Munro (46), Kane Williamson (32) and Corey Anderson (28) were their main scorers.After Martin Guptill was dismissed for 15, Corey Anderson and Munro added 74 for the second wicket stand.No other Kiwi batsman could get into the double-figures as England seamer Ben Stokes claimed three wickets for 26.England will play the final at Kolkata on Sunday against the winners of the second semi-finals, to be held between India and West Indies at Mumbai on Thursday.�
 Disgraced Olympic and Paralympic gold medallist Oscar Pistorius will face sentencing in June following his conviction for murdering his girlfriend, Sky News reported on Wednesday.</strongCiting sources, Sky News said Pistorius will be sentenced between June 13 and 17.Pistorius, known as "Blade Runner" for the carbon fibre prosthetic blades he used to race, faces a minimum 15-year jail sentence.The Supreme Court in December upgraded the 29-year-old Paralympian�s sentence on appeal to murder from "culpable homicide" - South Africa�s equivalent of manslaughter, for which he had received a five-year sentence.Pistorius was released from prison and placed under house arrest on Oct.19, having spent one day less than a year behind bars for shooting dead model Reeva Steenkamp on Valentine�s Day in 2013, in a case that attracted worldwide interest and continues to fascinate and divide South Africa.
 England have to chase a daunting target of 154 runs, set by New Zealand, �to qualify for the final of the World Twenty20 here at the Feroz Shah Kotla ground on Wednesday night.After England captain Eoin Morgan won the toss and opted for bowling, New Zealand lost their important batsman Martin Guptill for 15 runs when they were on just 17.However, their captain Kane Williamson along with Colin Munro made a rapid recovery and took the score to 91 before Williamson departed. He made 32 with three fours and a six.Later, Munro also made an exit before scoring an aggressive 46 off 32 balls with seven fours and two sixes. �Corey Anderson also made a useful contribution, hitting 28 with two fours and a six but later, four batsmen fell quickly in a bid to accelerate the run-rate.However, New Zealand managed to reach 153 for eight in their 20 overs.For England, seamer Ben Stokes claimed three wickets for 26.
 England won the toss and elected to bowl against New Zealand in the first semi-final in World T20 here at Feroz Shah Kotla ground on Wednesday.New Zealand were facing their fifth different venue in as many matches and were they to reach the final they would do so without chasing at any time in the tournament.Expectations of a slightly quicker surface in Delhi than New Zealand had normally encountered, with limited spin, led them to include the pace of Adam Milne ahead of the offspin of Nathan McCullum - reverting to the XI which saw off Australia in Dharamsala.Eoin Morgan's decision to bowl was influenced not just by England's preference for chasing but the belief that evening dew in the second innings might tilt conditions a little in their favour. New Zealand's surprise package - the spinners Mitchell Santner and Ish Sodhi - still lay in wait.The pitch appeared to have a little grass, but given the venue's history that did not mean there would be much response for bowlers of any type. England's two previous games, against Afghanistan and Sri Lanka, had been played on slowish surfaces, one dry and slow, one damper and a little quicker, but neither offered much turn.Almost no one would have expected New Zealand to leave both Trent Boult and Tim Southee out for the entire group stage, yet the semi-final had arrived and they were excluded once more.England: Alex Hales, Jason Roy, Joe Root, Eoin Morgan (captain), Jos Buttler (wk), Ben Stokes, Moeen Ali, Adil Rashid, Chris Jordan, David Willey, Liam PlunkettNew Zealand: Martin Guptill, Kane Williamson (captain), Colin Munro, Ross Taylor, Grant Elliott, Corey Anderson, Luke Ronchi (wk), Mitchell Santner, Adam Milne, Ish Sodhi, Mitchell McClenaghan�
 Pakistan coach Waqar Younis protested against the attitude of the PCB chairman who according to him did not meet him when he went to see him in his office.Talking to media persons, Waqar also expressed his dismay over what he said the leakage of his report submitted to the PCB and which was supposed to remain confidential.However, the PCB chief, Shaharyar Khan later told the media that he was in a meeting when Waqar wanted to meet him and he asked him to come tomorrow. But on Waqar�s insistence he talked to him on the phone.Khan said that Waqar sounded very upset on the phone as he was complaining of the leakage of his report. He said he had assured him that an enquiry will be conducted in this regard.Waqar, in a strongly worded and revealing report, had criticised the PCB's decision of not giving him a say in the selection process during his tenure and has also lambasted the leadership style of Shahid Afridi, which he felt left the players confused.He also recommended that players like Ahmed Shehzad and Umar Akmal be made to re-earn their place in the national squad with performances in domestic cricket.A six-page report covers an overview of his two-year term as coach and comprises 13 recommendations to help take Pakistan cricket forward.The report, which also touched on selection irregularities based on which Waqar reportedly resigned before the 2015 World Cup, was presented to PCB chairman Shaharyar Khan and later to PCB's fact-finding committee.
 The Meg Lanning-led Australia Women side won the bragging rights over England Women, who stumbled to yet another defeat to their arch-rivals in a knockout clash. It left Australia eyeing a delicious prospect of pitching for their fourth successive Women's World T20 title come Sunday.Lanning's 50-ball 55 on a slow Feroz Shah Kotla deck was the cornerstone to Australia's 132 for 6.England, who needed to achieve the highest successful run chase in the tournament to have a crack at their second title, choked despite having the target well within touching distance.They imploded with a combination of nerves and reckless shots. Katherine Brunt, who had a forgettable day with the ball, muscled a six and four to bring the equation down to 17 off 10 deliveries before Australia's killer instinct prevailed; England agonisingly falling short by five runs.England came out all attacking in their chase, and also benefitted from some luck as a diving Beth Mooney put down a tough chance offered by Tammy Beaumont at mid-off in the fourth over.Charlotte Edwards, who started slowly, lent the artistic touch to the innings, before she chipped a catch to cover, against the run of play. Her dismissal ended a 67-run opening partnership that came at better than a run a ball.
 World Twenty20 hosts India have replaced injured all-rounder Yuvraj Singh with middle-order batsman Manish Pandey, the International Cricket Council (ICC) said on Wednesday.Yuvraj, who played a crucial role in India�s victory in the inaugural edition of the tournament in 2007, twisted his ankle while batting during Sunday�s six-wicket victory over Australia that secured India�s place in the last four of the tournament.Pandey, 26, will fancy his chances of playing when India take on 2012 champions West Indies in the second semi-final at the Wankhede Stadium on Thursday, even though Ajinkya Rahane will also stake his claim for a place in the starting side.Pandey, who is the first batsman from his country to smash a century in the Indian Premier League (IPL) Twenty20 competition, has played only four one-day internationals and a couple of T20 internationals.
 The second World Twenty20 semi-final is likely to hinge on who emerges on top in the battle between the big-hitting West Indian batsmen and India�s wily spinners when the former champions clash at the Wankhede Stadium on Thursday.</strongIndia, the world�s top-ranked side in the shortest format, arrived at the sixth edition of the tournament with 10 wins from 11 matches in 2016 and were considered overwhelming favourites by fans, opposing captains and bookmakers alike.But while an opening Super 10 stage defeat to New Zealand, who reached the semi-finals unbeaten, was a wake-up call, the home side�s credentials came into question in a one-run win over Bangladesh, who lost three wickets in the last three balls.Virat Kohli�s wide blade was then called on to see off a stiff challenge from 50-over world champions Australia in a winner-takes-all contest to reach the last four, his masterclass glossing over some major batting flaws for the 2007 champions.Shikhar Dhawan and Rohit Sharma have failed to build a solid foundation for the hosts and their opening stands of five, 14, 42 and 23 have put pressure on the middle and lower order to provide a bulk of the scoring.Left-hander Suresh Raina�s scores of one, zero, 30 and 10 have not been overly helpful either, and calls for the number four batsman�s omission from the team have only gained momentum.Yuvraj Singh�s ankle injury in the win over Australia could open the door for Ajinkya Rahane to play at his home ground in Mumbai but the right-hander may be a little rusty, having not been involved in an international match for more than a month."You can�t rely on one batsman, yes the others have contributed, but still at the same time, if we can do a bit more with the bat at the top of the order and the middle overs, I think we will feel the pressure slightly less," India captain Mahendra Singh Dhoni said after the Australia triumph."Also, it will be good, because still we feel we are batting at 65 percent, barring Virat (Kohli)."strong>CAPTAIN COOL</strongDhoni faces the prospect of lifting a third World Cup for India after leading them in 2007 and again for the 50-overs title in 2011, the wicketkeeper lauded for his exceptional calmness and savvy against Bangladesh as India stole victory.A win on Thursday will take India to a third final in the World Twenty20 under Dhoni after they went down to South Asian rivals Sri Lanka in the last edition in Bangladesh.The strong form of his spinners and accuracy of pacemen Ashish Nehra and Jasprit Bumrah in the death overs will give Dhoni hope of taming the West Indies batsmen on a surface that has done little to help the bowlers in three matches.South Africa saw a 230-run target chased down by England, who were on the receiving end of Chris Gayle�s assault when they failed to defend a score of 182.At the same ground, Afghanistan gave South Africa a scare while chasing 209 until they lost too many wickets in the second half of the innings on a surface offering little respite for the bowlers at a ground with relatively short boundaries.Afghanistan also inflicted the only Super 10 defeat on West Indies with their spinners finding a way to restrict their powerful batsmen in Nagpur.The 2012 champions rested Gayle for that game and a hamstring injury to Andre Fletcher, who has since been ruled out of the tournament and replaced by Lendl Simmons, hampered their chase further.But the inability to chase down a modest 124 would have not gone unnoticed and skipper Darren Sammy is hoping it was just a one-off and not a sign of inconsistency."We have to leave this game in Nagpur," Sammy said."We�ll leave this game here and see it as the blip in the tournament."Now we have two knockouts to play. Two more steps."
 Lionel Messi scored his 50th international goal to help Argentina beat Bolivia 2-0 in a 2018 World Cup qualifier on Tuesday.</strongThe win put Argentina third in the South American group with 11 points from six matches, two points behind joint leaders Ecuador and Uruguay.Ecuador suffered their first loss in the group, going down 3-1 in Colombia, while Uruguay scored a 1-0 home win over Peru.Argentina defender Gabriel Mercado, who scored the winner in Thursday�s 2-1 away victory over Chile, opened the scoring in the 21st minute against Bolivia.Argentina were awarded a penalty in the 29th minute after Ronald Eguino fouled midfielder Ever Banega, and Messi made no mistake from the spot to net his 50th goal for Argentina, putting him within six of Gabriel Batistuta�s record.�This (campaign) is very long and what�s important is that we won and remain on course,� Messi told TyC Sports. �I�m happy with goal number 50 but more because we won and this helps to keep growing.�Argentina coach Gerardo Martino said it had been crucial to get the two wins.�It was fundamental to get the six points,� he told TyC Sports of the two wins. �I think we played a serious match and won well.�Argentina could have gone ahead after 10 seconds with a quick attack down the left from the opening kickoff but Angel Di Maria�s shot was blocked by goalkeeper Carlos Lampe and Banega hit the bar with the rebound.Di Maria limped off after half an hour and was replaced by Angel Correa.Argentina squandered several other chances to score against a side they put 12 goals past in two friendlies last year. They are a point ahead of Colombia and Chile, who came from behind to beat Venezuela 4-1.Brazil and Paraguay have nine points after their 2-2 draw in Asuncion.The top four teams in the 10-nation group qualify for the 2018 World Cup finals, while the fifth-placed side goes into an intercontinental playoff.
 Pakistan Twenty20 cricket team captain, Shahid Afridi has apologized to the nation for not being able to live to the expectations of the people in the T20 World Cup.In a video message, the skipper said he is only answerable to the nation and he does not care for others.�When I enter into the field to play, I do it with the national spirit,� he said.
 France beefed up security in and around the Stade de France on Tuesday for the first international soccer match to be played at the stadium since the attacks in Paris by militant Islamists on Nov. 13 killed 130 people.</strongThe crowd also observed a minute of silence before the friendly between France and Russia in memory of victims of last week�s bombings in Brussels which killed 32 people.Islamic State claimed responsibility for the Brussels attacks too."Some 1,200 agents from private security companies and 575 police and gendarmerie officers are here," French Interior Minister Bernard Cazeneuve told reporters at the stadium, one of several Paris sites targeted in last November�s attacks.Cazeneuve said cars entering the underground parking lot were being searched and VIP parking spots were being cleared by bomb squads.Just as at this year�s Six Nations rugby games, side accesses to the esplanade were shut.<br/>Private security agents performed a first bag and body check on people entering the stadium under the supervision of police officers carrying machine guns.A second body and bag check was then performed at the 18 stadium entry points.<br/>"We have also mobilised a RAID (special force) unit," said Cazeneuve.France will host the Euro 2016 soccer tournament from June 10-July 10 with 24 teams taking part and games being played in 10 stadiums.
 The special committee on Asia Cup and ICCWorld T20 convened a meeting Tuesday at PCB headquarters Gaddafi Stadium Lahore.The meeting was held with former Pakistan captain and ace Testbatsman Younus Khan and Test captain Misbah�ul�Haq Shakil Shaikh Chairman Cricket Committee chaired the meetingwas also attended by Subhan Ahmad Chief Operating Officer IqbalQasim Former Test Player as members and Salman Naseer SeniorManager Legal (Secretary) said a PCB statement on Tuesday./> National team manager Intikhab Alam chief selector HaroonRasheed selector Azhar Khan and Head Coach Waqar Younis appeared beforethe committee.<br/> They presented their views pertaining to the causes of poorperformance in Asia Cup and ICC World T20. Committee will formulateits recommendations within next two days for onward submission toChairman PCB./> The committee also invited Aamer Nazir for his independent pointof view regarding the poor performance of the national team in AsiaCup and ICC World T20. The committee had already solicited views of eminent cricketers Rashid Latif and Mohammad Wasim./> The committee will invite MohammadYousuf and Jalal�ud�Din for their expert opinion on Wednesday./> Shahid Afridi will give his views telephonically tomorrow from Karachi.
 West Indies displayed an astonishing batting power play to crush favourites India and qualified for the final of the World Twenty20 here at Wankhede Stadium on Thursday night.Chasing an improbable target of 193, West Indies made a disastrous start losing Chris Gayle and Marlon Samuels for 19 runs but then opener Johnson Charles and Lendl Simmons made a quick recovery and added 97 runs for the third wicket.Charles made 52 off 36 balls with seven fours and two sixes before he was dismissed by Virat Kohli.Then Simmons was joined by Andre Russell and both blasted a number of sixes and boundaries to steer their team to an unbelievable victory with two balls to spare.Simmons and Russell remained not out on 83 and 43, respectively.Simmons smashed five sixes and seven fours in 51 balls while Russell hit four sixes and three fours facing 20 balls.�Earlier, India piled up a huge total of 192 runs for the loss of only two wickets with the help of three consecutive sixty-plus partnerships after being sent into bat..First, openers Rohit Sharma (43) and Ajinkya Rahane (40)provided a sound start of 62, then Rahane and Kohli added 66 for the second wicket and later Kohli and his captain Mahindra Singh Dhoni made 64 for the unbeaten third wicket stand.Kohli blasted an unbeaten 89 from 47 balls, hitting eleven fours and a six while Dhoni also remained not out on 15.This is India�s second highest total in a World T20 match after 218-4 against England at Durban in 2007.West Indies will now play the final against England on Sunday at Eden Gardens, Kolkata.This is interesting to note that the West Indies Women also qualified for the Women�s World T20 final and for the first time, two teams - men�s and women�s - of a �country� have reached the final of the respective T20 tournaments.
 Virat Kohli �s explosive batting display helped India set a difficult target for the West Indies �in the second semi-final of the World Twenty20 here at the Wankhede Stadium on Thursday night.Sent into bat by the West Indies captain Darren Sammy, India piled up a huge total of 192 runs for the loss of only two wickets with the help of three consecutive sixty-plus partnerships .First, openers Rohit Sharma (43) and Ajinkya Rahane (40)provided a sound start of 62, then Rahane and Kohli added 66 for the second wicket and later Kohli and his captain Mahindra Singh Dhoni made 64 for the unbeaten third wicket stand.�Kohli blasted an unbeaten 89 from 47 balls, hitting eleven fours and a six while Dhoni also remained not out on 15.This is India�s second highest total in a World T20 match after 218-4 against England at Durban in 2007.�
 West Indies captain Darren Sammy won the toss and opted for bowling against India in the second semi-final of the World Twenty20 here at the Wankhede Stadium on Thursday night.Earlier today, the West Indies Women have created a major shock by defeating comfortably the unbeaten New Zealand Women to qualify for their maiden final.India have made two changes, bringing in Ajinkya Rahane in place of Shikhar Dhawan and Manish Pandey in place of injured Yuvraj Singh.Rahane has not played international cricket since getting a duck against Pakistan in the Asia Cup in February.Pandey has not played competitive cricket since late January when he struck a match-winning 104 not out against Australia in Australia.West Indies also made a couple of changes. Chris Gayle, who was rested for their last game, a loss to Afghanistan, returned to take his place at the top of the order and Lendl Simmons has been brought in to replace the injured Andre Fletcher.India: Rohit Sharma, Ajinkya Rahane, Virat Kohli, Suresh Raina, Manish Pandey, Mahindra Singh Dhoni (captain &amp; wk), Hardik Pandya, Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Ashish NehraWest Indies: Chris Gayle, Johnson Charles, Marlon Samuels, Lendl Simmons, Denesh Ramdin (wk), Dwayne Bravo, Andre Russell, Darren Sammy (captain), Carlos Brathwaite, Sulieman Benn, Samuel Badree�
 New Zealand Women�s late collapse gave West Indies Women a thrilling six-run victory to enter into the final of the Women�s World Twenty20 here at the Wankhede Stadium on Thursday.Thus, New Zealand�s both teams, men�s and women�s, lost the semi-finals in their respective T20 tournaments.Chasing 144, New Zealand could make 137 for eight after losing five wickets within the last four overs.Sara McGlashan top-scored with 38, followed by Amy Satterthwaite (24) and Sophie Devine (22).However, it was West Indies Women captain Stafanie Taylor who turned the tables on their opponents with her off-break bowling skill, claiming three wickets in her last two overs to finish with three for 26.Earlier, West Indies managed to put on a competitive total of 143 for five, thanks to Britney Cooper�s brilliant 61. Her 48-ball innings was laced with five fours and two sixes.She was well supported by Stafanie Taylor (25) and Deandra Dottin (20).New Zealand seamer Sophie Devine captured four wickets for 22.���
 West Indies Women set 144-run target for New Zealand Women in the second semi-finals of the Women�s World Twenty20 here at the Wankhede Stadium on Thursday.New Zealand captain Suzie Bates won the toss and elected to bowl against the West Indies who managed to put on a competitive total of 143 for five in their 20 overs.All credit goes to Britney Cooper�s 48-ball 61 during which she struck five fours and two sixes.She was well supported by her captain Stafanie Taylor (25) and Deandra Dottin (20).New Zealand seamer Sophie Devine captured four wickets for 22.
 Australian spin great Shane Warne has blamed his country�s latest World Twenty20 failure on selectors, criticising the decision to tinker with the lineup and not playing Aaron Finch and John Hastings in matches.</strongAustralia were knocked out in pool play after losing to India on Sunday after a brilliant unbeaten knock of 82 by the ICC�s top-ranked Twenty20 batsman Virat Kohli secured a famous victory by the hosts in Mohali.Finch, ranked second on the list, had formed a destructive partnership with David Warner, according to Warne, but the duo did not open together in four matches in India as Australia�s wait for a first Twenty 20 title goes on."Our selection was wrong...we messed around with it too much rather than sticking with what�s been a proven formula," the 46-year-old told cricket.com.au. on Thursday."Because we had so much talent in our team and so much skill, they thought �it doesn�t matter what the combinations are we�re still going to do OK�."Shane Watson started ahead of Finch in the opening loss to New Zealand and win over Bangladesh, but the former skipper returned to open with Usman Khawaja for the win over Pakistan and India defeat with Warner coming in at three.Warne, who took 708 test wickets with his leg-spin and another 70 in Twenty20 internationals, could not understand why Australia had split up an opening pair that had helped win the 50-over World Cup on home soil last year."It upset the balance of the team," he said."Those two guys had been batting together for a long time.They have done well in Twenty20, they�ve done well in one-day cricket.�Suddenly they got split up."That Finch-Warner partnership, it�s an intimidatory factor before a ball was bowled and people would have worried about Finch and Warner."Warne said he also thought Hastings should have started ahead of seamer Josh Hazlewood, who took one wicket for a combined 64 runs in the matches against India and Pakistan."Hastings is a better option in a Twenty20 game because of his yorkers," he said."He�s just about the best we have. We were one-dimensional by not playing Hastings all the time."
 Team manager Intikhab Alam in his assessment termed Shahid Afridi a clueless captain in the wake of the team�s early exit from the tournament.Pakistan were knocked out of the World T20 after losing three of its four group matches including a loss to rival India.In the Asia Cup T20 too, Pakistan only managed to secure victories against the United Arab Emirates and Sri Lanka while losing comprehensively to arch�rivals India and Bangladesh.Alam, who was the manager of the team when Pakistan won the 1992 World Cup, also questioned the mental alertness of the Pakistan players and said they lacked physical fitness.
 Svetlana Kuznetsova held off a strong challenge from Switzerland�s Timea Bacsinszky in searing afternoon heat to book her place in the Miami Open final with a 7-5 6-3 victory on Thursday.The 15th-seeded Russian relied on a never-say-die attitude and a powerful baseline game as she improved her career record to 3-0 against the Swiss, ending the match with a crunching backhand cross court winner after nearly two hours on court.Kuznetsova, who won the Miami title in 2006, will next meet either Victoria Azarenka of Belarus or second seed Angelique Kerber of Germany who were scheduled to play their semi-final later on Thursday at Crandon Park.Kuznetsova, who pulled off a stunning upset when she ousted world number one Serena Williams in the fourth round, won a hard-fought opening set after ending a brilliant baseline slugfest between the two with an overhead smash.Though she failed to hold serve in the first game of the second set, the Russian broke her 19th-seeded opponent in the second and fourth games to lead 3-1, then fought back from 15-40 down on serve in the ninth to seal victory.Bacsinszky, who beat third-seeded world number two Agnieszka Radwanska of Poland in the fourth round, converted just two of 14 breakpoint opportunities during the match.
 Pakistan Cricket Board (PCB) Chairman Shahryar Khan on Friday rejected reports that he has tendered resignation from his post for national team�s dismal performance in World Twenty20 and Asia Cup.Speaking to media, he said: "I have not tendered resignation. All speculations in this regard are baseless."Earlier sources said the PCB chairman would announce his decision in a press conference at around 4:00 p.m on Friday.It was reported that the PCB chief decided to step down after a special committee, tasked to find the reasons behind Pakistan's disappointing performance in the World Twenty20 tournament, submits its recommendations to the country's cricket chief.Shaharyar, who is heading the Pakistan Cricket Board for the second time, said that he had received the inquiry report on the team�s poor show in Asia Cup T20 and World T20 and will only be able to comment after studying it.Pakistan were knocked out of the World T20 after losing three of its four group matches including a loss to rival India.Having started with a bang in the WT20 tournament by thrashing Bangladesh, Pakistan lost their next three games against India, New Zealand and Australia to crash out of the tournament at the first hurdle.The 82-year-old former diplomat was appointed as the chairman of the PCB by Prime Minister Nawaz Sharif on August 16 2014.His previous stint as the board supremo which began on December 10 2003 to October 7 2006 was seen as a successful tenure for Pakistan cricket.
 Pakistan Cricket Board (PCB) Chairman Shahryar Khan has decided to resign following team's poor performance in World Twenty20 and Asia Cup, sources said.</strongSources said that PCB chairman will announce his decision in a press conference at around 4:00 p.m.Shahryar Khan also held a meeting with Najam Sethi, Chief of PCB Governing Body.Shahryar Khan also held a meeting with Najam Sethi, Chief of PCB Governing Body today, sources added.He said, �If things improve with my resignation I am ready to step down.�Sources said, PCB chief decided to step down after a special committee tasked to find the reasons behind Pakistan's disappointing performance in the World Twenty20 tournament submits its recommendations to the country's cricket chief.Having started with a bang in the WT20 tournament by thrashing Bangladesh, Pakistan lost their next three games against India, New Zealand and Australia to crash out of the tournament at the first hurdle.The country's top cricket officials are probing into the causes behind the team�s catastrophic performance in the World Twenty20 championship and the preceding Asia Cup in Bangladesh.
 Aggressive opening batsman Chris Gayle usually hogs the headlines but West Indies' advance to the World Twenty20 final against England has shown they are by no means a one-man band, according to batsman Lendl Simmons.</strongGayle scored an unbeaten century in the Caribbean side's first pool match against England, which set up their successful run chase of 183, reaching the target with 11 balls to spare in Mumbai. Since then, he has scored nine further runs.He was dismissed for five in the semi-final against India before Simmons smashed 82 from 51 balls, while Andre Russell scored 43 from 20 to guide their side into Sunday's showdown with Eoin Morgan's team in Kolkata on Sunday."I think England will certainly be aware that it's not a one-man show in this team," Simmons told reporters."Chris Gayle didn't get off but we still managed to get over the line and it was a big total."Even when he didn't perform, we were still able to get up and fight and that shows a lot of character from our players."The team have needed to rely on their character and collective will after a turbulent few months in which they have been pilloried for their performances in test matches and one day internationals.They have also been galvanised by yet another bitter pay dispute with their board, who less than two months ago threatened to send a second string side to the tournament in India unless the squad accepted their offer.Since Gayle's blistering start to the tournament, others have assumed the mantle of trying to chase down the totals they have been set in all five games.Andre Fletcher scored 84 not out in their seven-wicket win over Sri Lanka, while Johnson Charles (32) and Marlon Samuels (43) saw them to a three-wicket win over South Africa."Every one of our players are match winners in our team," Simmons added. "We have a lot of batting power and I think we can chase any run total, we always back ourselves to chase totals."That confidence has also been evident in Morgan's side after they comfortably accounted for New Zealand in the other semi-final, with man of the match Jason Roy epitomising the aggressive attitude that has filtered through the team.That aggression, and confidence, made them a better outfit than the England team that won the World Twenty20 in 2010, according to the captain of that side, Paul Collingwood."In the past our line-up probably had one or two players that were real match-winners, this team is full of match-winners," Collingwood told the ECB website."These guys are mentally different to what we used to be. 'Who dares wins' is pretty much the motto."We probably would think, 'this is a big game' and pull back a little bit. It seems to be the other way round for these guys, they seem to thrive on the excitement of the big stage."
 West Indies will face a completely different England side in Sunday�s World Twenty20 final compared to the one they beat in the Super 10 stage match, captain Eoin Morgan said on the eve of the title clash.</strongDoubts crept in about England�s prospects in the sixth edition of the tournament after West Indies chased down a 182-run target at the Wankhede Stadium with almost two overs to spare, riding on an unbeaten century from opener Chris Gayle.But the 2010 champions made significant improvement in their last two matches, including a morale-boosting victory over an in-form New Zealand side in the semi-finals, to inch closer to a second T20 title."I think it�s two completely different teams given that we have grown as a side game on game," Morgan told reporters at the Eden Gardens on Saturday."I think it�s difficult to compare sides from the first game of the tournament to the final of the World Cup."While Gayle is due for a big score having made little impact on the tournament since his blitzkrieg against England, Morgan said England could not afford to only focus on the Jamaican."Even before we played West Indies in the group stages I was quite firm in saying that Chris Gayle wasn�t just the West Indies team," said the 29-year-old who is himself due for runs."It�s important that when you are playing against good sides you do not focus on one or two good players.It�s everybody, because anybody can hurt you," Morgan added."I think India witnessed that and everybody watching the game witnessed that with Lendl Simmons� innings."Barely 12 months back, England made an ignominious exit from the 50-over World Cup and were pilloried for their negative approach to limited overs cricket.Morgan credits a change in mindset for their success."I think the strides we have made in the last 12 months, this would be a great reward for the mindset we have showed and the hard work we have put in," the left-handed batsman added."It�s quite a stark difference."It�s hard to believe in some ways. I would have never imagined the turnaround being so immediate or having such an immediate impact...the key component within that has been the mindset."I think tomorrow the opportunity we do have is a product of that.It�s totally exciting...I am just very, very proud."Morgan hopes his team mates will not be overawed by the occasion in front of over 65,000 spectators at the iconic Eden Gardens."We know it�s not going to be a normal game. I want all of our players to embrace it and tomorrow everything is going to feel a bit rushed," he said."To start with it�s important that we are in a really good frame of mind to slow things down when needed and more importantly execute our skills."
 West Indies� rag-tag army of short-format mercenaries will be hoping they have the weapons to overcome a fearless England in Sunday�s World Twenty20 final as both sides target the honour of being the first to claim a second title in the tournament.</strongFor a group of players who nearly boycotted the event over a contractual dispute with their board, Darren Sammy and his troops have waltzed into the Kolkata final displaying all the Caribbean flair that has earned them global admiration.If Twenty20 cricket is essentially about power-hitting, no team does it better and more unabashedly than the West Indies.England have first-hand knowledge of that destructive potency, having been blown away by Chris Gayle�s 47-ball century in a Super 10 shellacking in Mumbai a fortnight ago.Revenge may be regarded as a dish best served cold but Eoin Morgan�s men would probably like nothing more than to exact it in the heat of a World Cup final.A task easier said than done against a West Indies outfit packed with swashbuckling players who ply their trade in lucrative Twenty20 leagues around the globe.What makes the job doubly difficult is that Sammy�s men have proved in India that they are more than just a one-man army who bank on Gayle to punch holes in their opponents.Marlon Samuels, Lendl Simmons and Andrew Russell have stepped out of their illustrious team mate�s shadow and made their own mark in the last month."We said this before the tournament that Chris is under pressure," Sammy said after the exhilarating semi-final victory against hosts India."He is our best Twenty20 player but we have 15 match-winners in this side," he added.The ever-smiling all-rounder is seeking to become the first captain to lead a team to a second World Twenty20 title but West Indies are anything but infallible.strong>PEAKING ENGLAND</strongThey showed two extremes to their game in the last couple of outings, slumping to an embarrassing defeat to qualifiers Afghanistan before silencing a raucous home crowd in Mumbai as they knocked out favourites India.Also, the England they will face on Sunday is not the same team they thumped by six wickets in the group stage last month.Morgan�s side have peaked gradually in the tournament since that defeat and seem to have found the right rhythm and combinations.They accomplished a high-scoring chase against South Africa, recovered well to subdue an upset-minded Afghanistan, held their nerve to edge out Sri Lanka and stunned the previously unbeaten New Zealand with a near-perfect game in the semi-finals.Their batsmen -- especially Jason Roy, Joe Root and Jos Buttler -- have batted with refreshing freedom and their catching has been extraordinary.Equally, if not more impressive, has been their bowling at the death.Ben Stokes appeared to have ice in his veins in the final over against Sri Lanka to thwart Angelo Mathews�s audacious bid to pull off a sensational victory as England secured their place in the last four.Against New Zealand, Stokes and Chris Jordan pacified the Black Caps in the final four overs, which cost only 20 runs and garnered five wickets, to restrict them to a total that England could chase down with 17 balls to spare.Morgan has freed his batsmen from the weight of expectation and it is showing in the team�s performance."That�s the way a lot of us play," Roy said of England�s aggressive batting after his 44-ball innings of 78 set the foundations for victory over New Zealand."The whole team has got that kind of licence, that kind of opportunity to go out there and do what they want and be free with their skills."
� West Indies with another unbelievable win after their semi-final victory became the World Twenty20 champions here at the Eden Gardens on Sunday night.</strongNeeding 19 runs in the final over, Carlos Brathwaite, batting at number eight, smashed four sixes on the trot to seal the title with a four-wicket win with two balls to spare.They became the first side to win the World T20 title twice, first time in 2010. They were also the first team to win two ODI World Cups as well.Their women�s team also became the World T20 champions on the same day. Thus the West Indies set a unique record of winning the double crown in T20 cricket.Chasing a rather difficult target, West Indies began their innings on a disappointing note losing three wickets for just eleven runs.However, Marlon Samuels and Dwayne Bravo came to rescue and took the score to 86 before Bravo departed after hitting 25 with a six and a four.Samuels and Bravo added 65 runs for the fourth wicket and then two more wickets fell as West Indies reached 107 for six.Now they needed 49 runs from 27 balls with Samuels still at the crease as Brathwaite joined him and they were in no mood to give up the chase.They added 54 runs from 25 balls, for an unbeaten fifth wicket stand, to finish it after Brathwaite hit four consecutive sixes off Ben Stokes in the final over.David Willey claimed three wickets for 20 and Joe Root got two for nine for England.Earlier, England being sent into bat, managed to reach 155 for nine after a disastrous start losing three early wickets for just 23 runs.However, Joe Root and Jos Buttler rescued the team from collapse with a 61-run fourth wicket partnership and later Willey slogged a quick fire 21 with two sixes and a four.Root made 54 off 36 balls with seven fours while Buttler scored 36 off 22 balls with three sixes and a four.West Indian pacers Brathwaite and Bravo captured three wickets each for 23 and 37, respectively while leg-spinner Samuel Badree took two for 16.
 Pakistan won the first match of Twenty20 Blind Cricket Series after defeating Sri Lanka by nine wickets here at Iqbal Stadium on Sunday.Winning the toss, Sri Lanka batted first and scored 158 runs in 20 overs for the loss of five �wickets.Top scorers from Sri Lankan Blind cricket team were Opel Sanjeewa (65) and Desperia (38) whereas for Pakistan, Sajid Nawaz got two wickets for 27 runs in his four �overs.In reply, Pakistan Blind cricket team achieved the target in 9.3 overs for the loss of only one wicket.Openers Badar Munir and Mohsan Khan provided a sound start with a partnership of 148 runs during the first day play.Badar Munir completed his century with the help of 21 fours from 39 balls and was declared Man of the Match whereas Mohsin Khan scored 36 runs.The second match of the T20 series will be held at the same venue on Monday (April 4) whereas the third match will be played on Tuesday (April 5).�
 England set a target of 156 runs for West Indies in the final of the World Twenty20 here at Eden Gardens on Sunday night.Batting first after being sent into bat, England made a disastrous start losing three early wickets for just 23 runs but Joe Root and Jos Buttler rescued the team from collapse with a 61-run fourth wicket partnership.Root made 54 off 36 balls with seven fours while Buttler scored 36 off 22 balls with three sixes and a four.Later, three wickets fell quickly as England were 111 for seven but they managed to reach 155 for nine in their 20 overs after David Willey slogged a quick fire 21 with the help of two sixes and a four.West Indian pacers Carlos Brathwaite and Dwayne Bravo claimed three wickets each for 23 and 37, respectively while leg-spinner Samuel Badree took two for 16.England and West Indies both named unchanged sides, trusting the same XI that brought each team through their respective semi-finals.Whichever team wins in Kolkata, they will be the first side to win the World T20 title more than once.�
 West Indies captain Darren Sammy won the toss and put England into bat in the final of the World Twenty20 here at Eden Gardens on Sunday.This was Sammy�s tenth consecutive toss as West Indies' T20 captain. They have batted second in every match and have lost only once, to Afghanistan in the group stage after already qualifying for the semi-finals.England's captain Eoin Morgan freely admitted he too would have bowled first on a pitch that looked good for batting.England and West Indies both named unchanged sides, trusting the same XI that brought each team through their respective semi-finals.Whichever team wins in Kolkata, they will be the first side to win the World T20 title more than once.Teams:England: Jason Roy, Alex Hales, Joe Root, Eoin Morgan (captain), Ben Stokes, Jos Buttler (wk), Moeen Ali, Chris Jordan, Adil Rashid, David Willey, Liam Plunkett.West Indies: Chris Gayle, Johnson Charles, Marlon Samuels, Lendl Simmons, Denesh Ramdin (wk), Dwayne Bravo, Andre Russell, Darren Sammy (captain), Carlos Brathwaite, Samuel Badree, Sulieman Benn
 The West Indies Women recorded a historic win to become the champions of the Women�s World Twenty20 for the first time in history here at Eden Gardens on Sunday.Thus the West Indies Women, who made their maiden appearance in the summit clash shattered the Aussie women�s dream of winning their fourth successive World T20 title.Chasing a rather tough target of 149, West Indies completed their eight-wicket victory, with three balls remaining, against the three-time Women�s World T20 champions.Openers Hayley Matthews and skipper Stafanie Taylor with a remarkable 120-run stand paved the way of for an easy win for the West Indies.The latter batters, Britney Cooper and Deandra Dottin needed just 29 runs from 26 balls to win and they achieved it in 23 balls.Matthews, who was declared the Player of the Match, �made 66 off 45 balls with three sixes and six fours while Taylor, who was named Player of the Series, scored 59 runs off 57 balls with six boundaries.Dottin and Cooper remained not out on 18 and three, respectively.Earlier, Australia winning the toss batted first and made 148 for five with Elyse Villani and captain Meg Lanning notching half-centuries.Both made 52 each with nine and eight fours, respectively while Ellyse Perry also contributed a useful 28 with the help of two sixes.For the West Indies, Dottin claimed two wickets with her accurate pace bowling.
 Pakistan�s flamboyant all-rounder and T20 captain Shahid Khan Afridi on Sunday announced to relinquish the captaincy after facing severe criticism for failures in Asia Cup and World T20.</strong�Today I wish to inform my fans in Pakistan and all over the world that I am relinquishing the captaincy of the T20 Pakistani team of my own volition,� Afridi said in a statement issued on his social media accounts.Thanking Pakistan Cricket Board Chairman Sharyar Khan for giving him the chance to lead the team, �Afridi said he intends to represent Pakistan in the future as a player and would continue playing league cricket.�I would also like to inform that InshaAllah I intend to continue to play the game for my country and league cricket etc�and request my fans for kindly keep praying and supporting me for my best future performances for Pakistan (as a player) and in all other arenas of the game, world over,� he said in the statement.�
 West Indies' rag-tag army of short-format mercenaries will be hoping they have the weapons to overcome a fearless England in Sunday's World Twenty20 final as both sides target the honour of being the first to claim a second title in the tournament.</strongFor a group of players who nearly boycotted the event over a contractual dispute with their board, Darren Sammy and his troops have waltzed into the Kolkata final displaying all the Caribbean flair that has earned them global admiration.If Twenty20 cricket is essentially about power-hitting, no team does it better and more unabashedly than the West Indies.England have first-hand knowledge of that destructive potency, having been blown away by Chris Gayle�s 47-ball century in a Super 10 shellacking in Mumbai a fortnight ago.Revenge may be regarded as a dish best served cold but Eoin Morgan�s men would probably like nothing more than to exact it in the heat of a World Cup final.A task easier said than done against a West Indies outfit packed with swashbuckling players who ply their trade in lucrative Twenty20 leagues around the globe.What makes the job doubly difficult is that Sammy�s men have proved in India that they are more than just a one-man army who bank on Gayle to punch holes in their opponents.Marlon Samuels, Lendl Simmons and Andrew Russell have stepped out of their illustrious team mate�s shadow and made their own mark in the last month."We said this before the tournament that Chris is under pressure," Sammy said after the exhilarating semi-final victory against hosts India."He is our best Twenty20 player but we have 15 match-winners in this side," he added.The ever-smiling all-rounder is seeking to become the first captain to lead a team to a second World Twenty20 title but West Indies are anything but infallible.strong>PEAKING ENGLAND</strongThey showed two extremes to their game in the last couple of outings, slumping to an embarrassing defeat to qualifiers Afghanistan before silencing a raucous home crowd in Mumbai as they knocked out favourites India.Also, the England they will face on Sunday is not the same team they thumped by six wickets in the group stage last month.Morgan's side have peaked gradually in the tournament since that defeat and seem to have found the right rhythm and combinations.They accomplished a high-scoring chase against South Africa, recovered well to subdue an upset-minded Afghanistan, held their nerve to edge out Sri Lanka and stunned the previously unbeaten New Zealand with a near-perfect game in the semi-finals.Their batsmen � especially Jason Roy, Joe Root and Jos Buttler � have batted with refreshing freedom and their catching has been extraordinary.Equally, if not more impressive, has been their bowling at the death.Ben Stokes appeared to have ice in his veins in the final over against Sri Lanka to thwart Angelo Mathews�s audacious bid to pull off a sensational victory as England secured their place in the last four.Against New Zealand, Stokes and Chris Jordan pacified the Black Caps in the final four overs, which cost only 20 runs and garnered five wickets, to restrict them to a total that England could chase down with 17 balls to spare.Morgan has freed his batsmen from the weight of expectation and it is showing in the team�s performance."That�s the way a lot of us play," Roy said of England�s aggressive batting after his 44-ball innings of 78 set the foundations for victory over New Zealand."The whole team has got that kind of licence, that kind of opportunity to go out there and do what they want and be free with their skills."
 The PCB has announced that Haroon Rashid 's selection committee is to be disbanded with immediate effect.</strongPCB Chairman Shahryar Khan said that new selection committee and captain will be announced soon while the task of coach selection has been given to a two-member committee, consists of Wasim Akram and Ramiz Raja.Rasheed came in for criticism in the post-World T20 report submitted by Waqar Younis - who has since stood down as head coach - and a PCB Special Committee has now determined that new selectors are to be appointed.The PCB also faces having to name a new T20 captain - after Shahid Afridi's resignation - and coach.Issues with player fitness were highlighted in the review of Pakistan's group-stage exit at the World T20 and those selected for the forthcoming tour of England will have to attend a boot camp with the army.The committee has also recommended hiring a psychologist and dietitian.+
 The West Indies board has offered talks with its new World Twenty20 champions to defuse a long�running dispute saying it wants to find ways of ensuring players don�t turn their backs on international cricket.The Windies� victory in the final in Kolkata on Sunday night was soured by an outburst from skipper Darren Sammy who said it was disappointing the team had received no support from the board before the match.Dave Cameron, the board�s president responded by calling the comments inappropriate in a statement that reserved its warmest words for the tournament organisers rather than the victorious players.However, Cameron did offer an olive branch by saying the board would meet players after the end of the Indian Premier League (IPL) next month to persuade them to play for the West Indies rather than opt for lucrative Twenty20 leagues.�We want to see how we can find common ground in ensuring that the best players in the region are available for selection for West Indies teams�, Cameron said.�We are fully aware of the financial rewards on offer in the lucrative international T20 leagues but we believe deeply in the importance of cricket to the people of the region and of West Indies cricket s place in world cricket. It is therefore a priority to have all of our players competing and available for selection.�Relations between the board and team have often been poisonous in recent years with players furious over what they see as inadequate financial rewards.A pay dispute two years ago led to the team flying home in the middle of a tour of India and the players only reluctantly agreed to sign contracts for the World T20 a few weeks before the tournament began.Many senior players, such as Chris Gayle, no longer play Test matches instead turning out in T20 leagues where they can earn more money in six weeks than they are paid by their board in a year.When the West Indies were thrashed by Australia in a Test series at the turn of the year, Gayle and Sammy were both unavailable for selection as they were playing in Australia�s Big Bash T20 tournament.Amid growing fears that the proliferation of T20 leagues is turning some players away from Test matches, the International Cricket Council (ICC) has said it wants to draw up a time table to avoid clashes.Many of the West Indies T20 champions are expected to play in the IPL which begins this coming weekend and ends in late May.�We are aware of that schedule hence the plan to meet at that time�, �said Cameron. �We will also engage the ICC on this so that we protect not only the rich heritage and legacy of West Indies cricket but also its future�, he added.
 Waqar Younis has resigned as Pakistan's coach three months before his contract was going to end, and only one day after Shahid Afridi stepped down as the T20 captain. Waqar took the decision after meeting PCB officials in Lahore.</strongThe two resignations came after Pakistan's disappointing performances in the Asia Cup in Bangladesh and the World T20 in India. Pakistan won only three games out of the eight they played across the two tournaments and failed to make it beyond the first round. The last series Pakistan won in any format was last October, when they beat England 2-0 in a three-Test series in the UAE. After that, Pakistan lost the ODI and T20 series to England, and then traveled to New Zealand to again lose the T20 and ODI series. They won only two of the 12 limited-overs matches they played in all against England and New Zealand. Pakistan are currently ranked a respectable fourth in Tests, but eighth in ODIs and seventh in T20s in the ICC rankings.Waqar had recently presented a scathing report, after Pakistan's exit from the World T20, in which he criticised the PCB's decision of not giving him a say in the selection process and lambasted Afridi's style of captaincy. The report was an overview of his two-year term as coach and was submitted to PCB chairman Shahryar Khan and to the board's fact-finding committee.A day before submitting that report, Waqar had offered to step down but had said cosmetic changes would be insufficient to solve the deeper issues in Pakistan cricket.It was Waqar's second tenure as coach after he was appointed in May 2014 for a two-year contract. His first stint as head coach was in 2010-11 and he had then resigned citing personal reasons.�
 Carlos Brathwaite�s four consecutive sixes that carried West Indies victory over England in the World Twenty20 final capped what former players and journalists described as one of the sport�s greatest matches on Monday.With the West Indies requiring 19 runs for victory off the last over, the Barbadian needed just four of Ben Stokes� final six deliveries to seal a four-wicket victory at Kolkata�s Eden Gardens on Sunday."Anyone who was here witnessed one of the great T20 matches. It was won, it was lost, then won, then lost. No side really deserved to lose it," former England captain Nasser Hussain wrote in his Daily Mail column after West Indies chased down England�s 155 for nine on a difficult batting surface.Fellow former England skipper Michael Atherton wrote in The Times: "It was a stunning end to a stunning tournament that showcased the best of the modern game -- a game in which England played a full part for once."The Daily Telegraph described Brathwaite�s onslaught as "four balls that stunned the world" with its correspondent Jonathan Liew writing: "It was one of the most remarkable victories ever known."A match that will resound well beyond the boundaries of this stadium, well beyond the boundaries of Twenty20 as a finish for the ages."While Brathwaite�s incredible display of power-hitting allowed the Caribbean side to become the first to win the World Twenty20 title twice, there was plenty of sympathy for England bowler Stokes, who was on the receiving end of the late mauling.England skipper Eoin Morgan said: "Ben is going to be devastated.<br/> Cricket can be a cruel game, it will take its toll over the next couple of days but we share the pain, we share the success."Former Sri Lanka captain Mahela Jayawardene, one of the greatest batsmen of recent times, also had sympathy for Stokes saying on ESPN that he was punished by Brathwaite because his deliveries were not quite accurate enough."But I feel sorry for Ben Stokes -- and a lot of the bowlers in this day and age," he added.<br/> Meanwhile, former Australian fast bowler Dennis Lillee was full of praise for the victors and their approach towards Twenty20 cricket.He told ESPN he had written about their batting prowess in his newspaper column before the tournament began and said it was that power that secured victory in the end."There has never been another six-hitting team like this one, and that turned out to be the clincher," he said.
 Anam Amin became the only Pakistani on Monday to make it in the International Cricket Council (ICC) women team of just�concluded World Twenty20�albeit as 12th player.The ICC announced teams of the tournament for the men�s and women�s ICC World Twenty20 - 2016 which finished at Eden Gardens in Kolkata on Sunday and included Anam of Pakistan as the 12th player, says a press release issued here.The selection panel that chose ICC teams of the ICC World Twenty20 included Geoff Allardice (ICC General Manager Cricket/Chairman), Ian Bishop (former West Indies fast bowler), Nasser Hussain (former England captain), Mel Jones (former Australia women�s batter), Sanjay Manjrekar (former India batsman) and Lisa Sthalekar (former Australia women�s all�rounder).The men�s team including 12th man contained four players from England, two players each from India and the West Indies, and one each from Australia, Bangladesh, New Zealand and South Africa while the women�s team comprised four players from New Zealand, two players each from Australia, England and the West Indies and one player each from Pakistan and South Africa.The Men team includes Jason Roy (England), Quinton de Kock (South Africa, wicketkeeper), Virat Kohli (India, captain), Joe Root (England), Jos Buttler (England), Shane Watson (Australia), Andre Russell (West Indies), Mitchell Santner (New Zealand), David Willey (England), Samuel Badree (West Indies), Ashish Nehra (India) and 12th man Mustafizur Rahman (Bangladesh).Women team comprise Suzie Bates (New Zealand), Charlotte Edwards (England), Meg Lanning (Australia), Stafanie Taylor (West Indies, captain), Sophie Devine (New Zealand), Rachel Priest (New Zealand, wicketkeeper), Deandra Dottin (West Indies), Megan Schutt(Australia), Sune Luus (South Africa), Leigh Kasperek (New Zealand), Anya Shrubsole (England) and 12th player Anam Amin (Pakistan).Announcing the squads, ICC General Manager Cricket Geoff Allardice said the experts had a difficult task to select the men�s and women�s squads from around 400 cricketers who represented the 26 teams.I believe the selectors have chosen two very well balanced sides which are capable of beating any opposition under any conditions, he said.
 �Athletes in New Zealand have become more vigilant about the medication and supplements they take in the wake of Russian tennis player Maria Sharapova�s positive test, Drug Free Sports New Zealand (DFSNZ) said on Monday.</strongThe five-times grand slam champion announced in March she had tested positive for the banned substance meldonium at the Australian Open in January.Sharapova said she had been unaware that it had been banned by the World Anti-Doping Agency (WADA) from Jan.1.Since then, more than 100 athletes across a variety of sports have been found to have used it."It is sad that a famous athlete has been caught out in this way, but the good outcome for us is that it has helped get our message across to athletes that they need to check all medications and supplements carefully," Drug Free Sports New Zealand (DFSNZ) Chief Executive Graeme Steel said on Monday.DFSNZ is a government body that implements the World Anti-Doping Code in New Zealand.Athletes were using the organisation�s website and telephone and email channels to check everything from cold sore cream to asthma medication, he added.DFSNZ said in the two weeks prior to Sharapova�s announcement they had received 961 queries about medication and another 339 about supplements through the website.
 Pakistan whitewashed Sri Lanka on Tuesday in the Interloop Twenty20 Blind Cricket series played at the Iqbal Stadium, Faisalabad.Pakistan had earlier defeated Sri Lanka in two T20s.In the third match, Pakistan beat Sri Lanka by seven wickets on Tuesday.After winning the toss, Sri Lanka decided to bat first. But Pakistan�s Israr Hassan sent Sri Lankan star batsmen Deshapriya and Dimthu Ravindra back to pavilion in the first couple of overs, says a press release issued here.Sri Lanka lost four wickets for a mere 24 runs on the board.Thereafter Rowan Wasantha played a captain�s knock and Suman Kumara supported him to take the team out of the early losses. They both got out after scoring 42 runs each.Sri Lanka made 170 runs for the loss of seven wickets in the allotted 20 overs.Israr Hassan took two wickets.Pakistan in reply, chased 171 runs in 13 overs for the loss of three wickets.Fasseh Ullah was the star for Pakistan, scoring 52 runs while Muhammad Asif made 28 runs.Lakmal and Suranga Sampath took one wicket each.Faseeh Ullah of Pakistan was declared man-of-the-match.Mussadaq Zulqarnain, CEO Interloop, was the Chief Guest on the occasion.<br/> He along with Syed Sultan Shah, President, World Blind Cricket Ltd, distributed prizes among the teams.Man-of-the-series included Muhammad Ayyaz in B1 category, Badar Munir in B2 and Deshapriya in B3 category.
 Seven hockey nations from around the world are set to participate in Sultan Azlan Shah Cup 2016, which will start here on Wednesday.The competition dates back to 1983, but the tournament became an annual event only after 2005.The 25th�edition of the Sultan Azlan Shah Cup will witness India, Pakistan, Australia, Malaysia, New Zealand, Canada and Japan battling it out for the prestigious title.�India, Canada, New Zealand and Australia have already qualified for the 2016 Rio Olympics and they will use this tournament as practice ahead of the mega event in August.Other teams such as Malaysia, Pakistan and Japan will want to show that they belong to the elite group, playing some brilliant hockey and giving it their all to win the title. Pakistan are one of the most talented sides in world hockey, and Malaysia, at home, are always a dangerous unit. Hence, a brilliant competition is expected to take shape for the next 10 days.Though India have won the title five times but they have their task cut out with teams like Australia and New Zealand as serious contenders for the title this year.Australia, ranked number one in the world, have some top class players, and will be the team to beat in the competition.India, ranked seventh, can win the title but they need to come up with an improved performance to clinch their sixth Sultan Azlan Shah Cup.New Zealand, ranked eighth, are going to make life tough for other teams in the competition. They defeated Australia last year to clinch the title, and will be looking for a similar performance this time around as well.�Other teams such as Pakistan will have a thing or two to prove in the competition, after failing to qualify for the Olympics. Malaysia will be brilliantly supported by the home crowd, who love the sport. Japan remains to be the lowest-ranked team (16) in the competition, but they will also be keen to create some upset in the competition, winning a few matches.
� Wicketkeeper Sarfraz Ahmed has replaced Shahid Afridi as Pakistan�s Twenty20 captain, the Pakistan Cricket Board (PCB) announced on Tuesday.</strongThe 36-year-old Afridi quit as captain on Sunday after Pakistan�s disappointing performance in the recent World Twenty20, where they lost three of their four pool matches and failed to reach the semi-finals.Sarfraz was made vice-captain of Pakistan�s ODI and Twenty20 international squads last year and the PCB moved quickly to name him as Afridi�s successor in the game�s shortest format."I spoke to Sarfraz this morning and conveyed to him that he was our natural choice for this position. His appointment is open-ended. I wish him good luck in his new role," PCB Chairman Shahryar Khan said in a statement.Despite resigning as skipper, Afridi said he wanted to continue as a player for the Twenty20 side. Rright-handed Ahmed played 21 T20 matches since his debut in 2010, scoring 291 runs with an average of 29.1.He also represented Quettal Gladiators in the first season of the Pakistan Super League (PSL).�
 National Table Tennis championship, organized by Pakistan Table Tennis Federation, would begin from April 11 (Monday) in the city.While talking to APP, District Officer Sports Ch. Siddiq said that national table tennis championship would be held at Gymnasium Hall, District Sports ground, Multan.He said the championship would begin from April 11 to continue till April 17.Table tennis teams of various government departments from across the country would participate in the event.He said a request was sent to Pakistan SportsBoard for issuance of more funds for laying astro�turf inhockey ground in Multan.Estimated cost for laying astro�turf was Rs 87 million he said adding PSB released Rs 40 million in this regard.Ch. Siddiq said that work on astro�turf project would be started as soon as PSB would release remaining funds for the project.
 Darren Sammy�s role in leading the West Indies to the ICC World Twenty20-2016 title has been recognised by St Lucia, the country of his birth, as it was announced that the island�s main cricket ground would be renamed in his honour.St. Lucia Prime Minister Kenny Anthony announced on Tuesday, at a 'welcome reception', that the Beausejour Stadium will be renamed in the honour of Darren Sammy, the side's inspirational captain.The ground, which has played host to international games since 2002, will henceforth be called the Darren Sammy National Cricket Stadium.The stadium which has a 15, 000 seating capacity was completed in 2002 and had hosted domestic matches for the Windward Islands cricket team.Sammy was the first cricketer to represent West Indies from St. Lucia when he made his One-Day International (ODI) debut against Bangladesh in the ICC Champions Trophy in 2004.Johnson Charles, the opener, is the other St. Lucian in the West Indies squad and will have a grand stand named after him at the venue.Charles will also receive a plot of land on St Lucia, a Caribbean island, most famed as a tourist destination.Sammy led his side to glory in a thrilling finish against England in Kolkata where Carlos Brathwaite hit four successive sixes in the last over to seal a four-wicketwin.West Indies thus became the first team to win the World T20 title twice. �Sammy was also the captain when they beat then hosts Sri Lanka in the 2012 final in Colombo.The West Indies Cricket Board congratulated Sammy and Charles for the honour their home country St Lucia bestowed on them.�Both are fitting tributes to the hard work and dedication of the players, who just completed an exciting victory to win the 2016 ICC World Twenty20 Men�s title�, a WICB release stated. �The honour is fitting and we salute the players�.
 A revamp of home international scheduling will mean Brisbane loses the first Test of next summer and pink�ball matches will be played against both touring nations, South Africa and Pakistan, Aussies media reported on Wednesday.Cricket Australia is finalising its international domestic and Big Bash League schedules for the 2016-17 season with an announcement expected this month.There are changes a foot with the Gabba to forfeit hosting rights to the first Test of the season and instead feature elsewhere in the calendar as host to the opening match of the Australia-Pakistan series set to be a day-night match in December.In its place, the Test summer will kick off between Australia and South Africa at the WACA in November with the ability for the match to be beamed into lounge rooms on the east coast at prime time weighing heavily in Perth�s favour.The series against the Proteas will head to Hobart which has been retained as a Test venue next summer amid competition from Canberra before wrapping up under lights at Adelaide Oval, the scene of last year�s historic first pink�ball Test.Australia will then meet Pakistan in a day-night match at the Gabba and complete that series with marquee Tests in Melbourne and Sydney.Brisbane has struggled to attract decent Test crowds outside Ashes years but by beginning the summer in Perth, there is a belief that attendance numbers should be boosted by the city�s strong expatriate South African population.By holding a second day-night Test in Brisbane officials hope to replicate the success of the inaugural pink�ball showpiece between Australia and New Zealand last November.Another key point of contention had been whether Canberra would be granted a first-ever Test. There was a strong bid from Cricket ACT and the concept of Canberra hosting a five-day match had the support of some senior officials.Manuka Oval is understood to be in CA�s thinking as a future Test venue but for now will have to be content with hosting another one-day international as Blundstone Arena is given another chance.
 Pakistan defeated Canada 3-1 in their opening match of the 25th edition of the Sultan Azlan Shah Cup on Wednesday in Ipoh Malaysia.According to information received here, Mohammad Qadir scored two goals in the first half of the match.However Canada�s Richard Holdreth reduced the deficit in the 48th minute.Mohammad Tousiq hit another goal for Pakistan on a penalty corner to give Pakistan a 3-1 lead.Pakistan maintained the lead till the end to win the fixture.Seven countries - hosts Malaysia, Pakistan, Australia, Japan, India, New Zealand and Canada are competing in the event.Pakistan will play their second match on April 9, against New Zealand.
 The Pakistan Cricket Board (PCB) will be holding a specialized camp for spinners at the National Cricket Academy (NCA) from April 8 to 14.The week-long camp will be supervised by the spin bowling consultant of the national team, Mushtaq Ahmed, says a press release issued here.The bowlers will be imparted technical, tactical and physical training skills in the camp.Lectures from cricket icons will also be arranged for the players during the program.The players in the camp include Yasir Shah, Zafar Gohar, Arsal Sh.,<br/> Muhammad Asghar, Karamat Ali, Immad Wasim, Muhammad Nawaz, Bilal Asif, Hayat Ullah, Shadab Khan, Salman Fayyaz and Ahmad Shafiq.The performance of these bowlers will be monitored during the upcoming Pentangular Domestic Tournament.On the basis of the outcomes, a comprehensive specialized programme will also be arranged for spin bowlers later on.
strong>Argentina moved top as South America dominated the monthly FIFA rankings on Thursday with five teams, half of the continent's total, in the top 10.</strongArgentina's World Cup qualifying wins away at Chile and home to Bolivia dislodged Belgium, who had been leading for the previous five months but dropped into second.Despite the defeat, Chile climbed to third, an all-time high, with Colombia one place behind them in fourth, Brazil seventh and Uruguay ninth.The rankings did not make such happy reading for Asia, who had only two teams in the top 50, Iran in 42nd and regional champions Australia in 50th.Algeria were African's highest-placed team in 33rd, one ahead of Ivory Coast, while 16th-ranked Mexico led the way for CONCACAF.Three-times continental champions Nigeria dropped to 67th after failing to qualify for next year's African Nations Cup.
 �The ninth edition of Indian Premier League (IPL) got off to a colourful start with a star-studded and glittering opening ceremony at the National Sports Club Of India (NSCI) here on Friday.With a strong number of cricketers from across the globe, stars from the entertainment sector and other dignitaries filling the stands, the 120-minute plus programme saw the country�s Twenty20 tournament take off in style.The gala started when Bollywood actress and Sri Lankan beauty Jacqueline Fernandez danced to the tunes of some famous numbers �Yaar Na Mile Te Mar Jawan�, � Party On My Mind � and �Sooraj Dooba Hain� along young boys and girls.Then came a young and talented Kings United group and the dancers group from Nalasopara here showcased their skills and body flexibility to have the crowd mesmerised.The performance was followed by former India cricketer Ravi Shastri inviting all captains of eight franchises in the stage to take the MCC�s Spirit of Cricket pledge. All captains signed the pledge to maintain spirit of the game throughout the tournament.IPL chairman Rajiv Shukla subsequently welcomed all the audience for the ninth edition of the competition.�On behalf of Board of Control for Cricket in India (BCCI) I would like to welcome all for the IPL opening ceremony. IPL 9 will be better and best compared to other editions. IPL is not about just entertainment� it is about cricket all the way. Like the league has brought up young talents, this year will also do so. We will do all is needed to help the Maharashtra farmers and do everything in their interest,� he said.Next up, Bollywood actress Katrina Kaif danced to the tunes of her famous numbers �Dhoom 3�, �Bang Bang�, �Afghan Jalebi Yaa Baba�, alongside young boys and girls and was followed by a performance by none other than West Indies star all-rounder Dwayne Bravo who danced and sang his song �Champio�. He was later on joined by India�s Ankit Tiwari.Then came India�s star rapper Yo Yo Honey Singh who entertained the crowd by singing his favourite songs like �Mai Tere Laila O Mere Laila�, �Dum Dum Bum Bum�, �Love Dose�, �Chaar Botal Vodka�.He gave the stage to star actor Ranveer Singh dancing to his favourite numbers like �Tattad Tattad Ramji Ki Chaal�, �Tune Mari Entry�, and �Malhari� and then the much-awaited performance by musical group Major Lazer.The last performance of the night was by American singer Chris Brown, who sang his heart out to make the evening a memorable one for the large number of fans and crowd gathered at the venue and seeing it from elsewhere.
 Maham Manzoor displayed lethal bowling show and captured a five-wicket haul to help Hyderabad record a convincing nine-wicket triumph against Abbottabad in 11th Mohtarma Fatima Jinnah National Women Cricket Championship 2016 on Friday at National Ground in Islamabad.Abbottabad batted first in the match and put on board a paltry total of 79 in 25.1 overs. Rubab Akhtar was the top scorer for the side with 15 runs.Maham bowled impressively hauling five wickets for only seven runs. Skipper Sajida Shah and Zakia Gul took two wickets each.Hyderabad in response easily achieved the target with nine wickets in hand in 18.2 overs. Lubna Naz played an unbeaten 33-run knock for the winners.In another match of the tournament, Faisalabad defeated Quetta by eight wickets at Shalimar Ground.Umm-e-Hani took two wickets and scored a fifty for the wining team and claimed Player of the Match award. Skipper Uzma Younis captured four wickets.
 Pakistan captain Inamul Haq is optimistic that his team will be doing well in the Fed Cup, scheduled to take place in Hua Hin, Thailand from April 11 to 15.A three-member Pakistan team comprising Ushna Suhail, Sara Mansoor and Sara Mahboob along with their captain Inamul Haq will fly from Karachi Airport on late Saturday to feature in the 11-nation Asia Oceania Zone Group II Fed Cup.Currently, the Fed Cup team members are playing in the ongoing 2nd Modern Club Founder Members National Grade-One Championship in Karachi.They will proceed for Fed Cup after the final of the championship.�We�ve very good and committed players. I expect some positive results from them this time�, Inam told APP.Pakistan finished 9th out of the total eleven teams during their last appearance in Fed Cup, held in Hyderabad, India last year.But Inam sounded confident that this time Pakistani girls would produce better results.�I know it�s not going to be an easy affair but I�m confident because I know our girls are good and can cause problems for any side,� he added.The female teams of Pakistan, Hong Kong, Indonesia, Iran, Malaysia, Kyrgyzstan, Pacific Oceania, Philippine, Singapore, Sri Lanka and Bahrain will take part in the event to be played on round�robin basis.The draws to determine two pools will be held in the presence of team captains on Sunday at Hua Hin tennis center.Pool A will have five teams while pool B will have six teams. The winners of each pool will play�off against one another to determine which nation will be promoted to Asia Oceania Zone Group I in 2017.The remaining teams will compete in positional play�offs with the exception of the team finishing sixth in Pool B. 
 West Indies off�spinner Sunil Narine was Thursday cleared to resume his career after a suspension for a suspect bowling action ruled him out of his team�s World Twenty20 title�winning campaign.The 27-year-old Trinidadian was suspended in November last year after being cited during a one�day match in Sri Lanka. He had also been reported for a similar problem at the 2014 Champions League T20 tournament.Sunil Narine s action found to be legal can now resume bowling in international cricket and domestic cricket events worldwide the International Cricket Council (ICC) tweeted.Narine has played six Tests in his stop�start career taking 21 wickets. He also has 77 wickets in 55 ODIs and 40 victims in Twenty20.Top�ranked bowler Narine had to drop out of the original 15�man West Indies squad for the World Twenty20 in India which ended on Sunday with his team securing a second title with a four�wicket win over England.�
 Pakistan team s bowling coach Azhar Mahmood has dismissed all speculations about groupings in the team, saying there were no issues amongst the players during Asia Cup and World Twenty20.�The simple fact is that our players are not good enough at the moment�, he said in comments on a website.He said he had recommended the Pakistan Cricket Board (PCB) to hire a sports psychologist in order to get the players mindset and thinking in a positive direction.Azhar said he had made some points in a report he submitted to the PCB. One of the points was that the PCB needs to hire a sports psychologist to get the players mindset right and get their thinking to be a lot more positive, Pakpassion net quoted him as saying.He said there is too much negativity in the Pakistan dressing room and that needs to be eradicated.�The needs to be more self�belief amongst our cricketers and that is missing at the moment�.The players need to believe more in them and that they can win from any situation which is lacking these days, he said.Azhar said there also needs to be more dedication and hard work from the current crop of Pakistani cricketers as that is also missing.�Another point I have made to the PCB is to hire a better quality of domestic coach. We need people who can improve the game awareness of our cricketers at domestic level and also improve our cricketers fitness and make them more aware of nutrition, he said.Azhar said but a real concern was that some players are playing for themselves and not for the team.At the moment, our cricketers are not setting themselves challenging goals and remain in a comfort zone which is hampering their performance, he said.Azhar said the captain and coach should be in the selection committee in all formats.�You simply cannot have a situation where players are picked for a squad and the coach or captain has no say in it,� he said.�
 The National Assembly on Friday was apprised on the Pakistan cricket team s poor performance in T�20 World Cup saying only one cricketer was representing Pakistan Cricket Board s (PCB) management.Only one cricketer was representing Pakistan Cricket Board (PCB) management and its affairs were being run by non-cricketers majority merely focussing on perks and privileges rather than cricket team�s performance.This was stated by the Minister for Inter-Provincial Coordination, Mian Riaz Hussain Pirzada while responding to a Calling Attention Notice raised by Khalida Mansoor and others regarding poor performance of Pakistan cricket team during the T20 World Cup.He said that it was a matter of great concern that national team could not perform well and batting line particularly top three badly flopped, he added.The minister said efforts were being made to review its past glory.Under short term measures, selection committee was being changed besides replacing the captain of the team, he said and added new coaches were also being hired.Riaz Hussain said for next assignment, camp would be set up at Abbottabad to acclimatize the players with England�s environment.The minister said that he had also forwarded the name of Majid Khan to the Prime Minister who is the patron-in-chief of the PCB.�
 Kolkata Knight Riders responded with a 'horses for courses' approach on a greenish Eden Gardens surface. Shakib Al Hasan and Morne Morkel, central to their plans last season, were benched.Sunil Narine, who played a stellar role in their title-winning run in 2012 and 2014, was unavailable because of his father's demise. Did it hamper them? It didn't look like, as Andre Russell and Brad Hogg took three wickets apiece to skittle Delhi Daredevils for 98. Robin Uthappa and Gautam Gambhir's 69-run opening then set the tone for a comfortable win with 35 balls to spare.Russell and John Hastings, taking Morkel's place, ran in hard and hit the deck to extract unusual bounce. Quinton de Kock, who had pulled Umesh Yadav for back-to-back boundaries, was the first to go when he skewed a catch to mid-off. Three balls later, Shreyas Iyer was trapped lbw for a duck.Mayank Agarwal and Karun Nair also exited in successive overs as Hastings capped the Powerplay with a wicket maiden. By then, Daredevils were in a familiar spot at 35 for 4. Pawan Negi, who was promoted to No.6, swished and missed balls. He was finally put out of his misery when Hogg had him stumped for a 19-ball 11.IPL debutant Carlos Brathwaite, who fired West Indies to their second World T20 title last week, momentarily broke the shackles with a biff over wide long-on, but was foxed by a skiddy googly from Piyush Chawla two balls later. Sanju Samson was the eighth Daredevils batsman to be dismissed before Hastings made a reappearance to wrap up the innings. Daredevils had slumped to their seventh sub-100 score in IPL, which also happened to be the second-lowest score in the tournament's history at Eden Gardens.The chase was a stroll for Knight Riders, and the onset of dew only made things worse. Zaheer Khan, playing his first competitive game since May 2015, floated flick-me balls in the lower 120kph range to Gambhir's pads and got picked away for three fours in the second over. Uthappa got into his shot-making stride with a brace of straight-driven fours as the hosts raced past 50 in the eighth over.Although Uthappa holed out for 35 in the tenth over against the run of play, Gambhir and Manish Pandey ensured Knight Riders enjoyed a winning start.�
 Top seed Aqeel Khan eased into the semifinals of men�s singles event after thrashing his quarterfinal opponent Muzamil Murtaza in straight sets in Modern Club Founder Members National Ranking Tennis Championship here Sunday at Modern Club.Pakistan�s ace tennis player Aqeel Khan found little resistance from his quarterfinal opponent Muzamil and recorded a convincing 6-0, 6-1 triumph. <br/> <br/> In U-14 singles semifinal encounter, Amin Shafi overpowered Rayyan Jawwad in straight sets by 6-2, 6-1 score.In U-12 semifinals, Mohammad Yahya defeated Asher Mir by 8-6 score while Ibrahim Khan beat Mahad by 8-1 score to confirm their presence in the final of the event.
 Rising Pune Supergiants started their IPL journey with a victory over defending champions Mumbai Indians.Pune chased down the 122-run target with nine wickets and 32 balls to spare after their bowlers restricted defending champions Mumbai Indians to 121 for eight in 20 overs.Ajinkya Rahane scored an unbeaten fifty to take Rising Pune Supergiants home with ease as the MS Dhoni-led new entrants began their Indian Premier League journey in an emphatic way.Rahane and Faf du Plessis put on 78 for the opening wicket to lead Pune to a commanding nine-wicket win over the hosts in the opening match of the ninth edition of IPL at the Wankhede stadium in Mumbai on Saturday.<br/> <br/> Rahane was in supreme touch as he remained unbeaten on 66 off 42 balls, after racing to fifty off 32, which included three sixes and seven fours. Kevin Pietersen, who joined Rahane after the fall of du Plessis, too was in his elements as he scored 21 not out off 14 balls with the help of two maximums. Pune then raced to the target of 122, with nine wickets and 32 balls to spare, in just 14.4 overs.<br/> <br/> Similar to Mumbai innings earlier, Harbhajan Singh was the only one with a wicket as he dismissed du Plessis, 34 off 33 balls, as Pune raced to 78/1 in 9.4 overs. After that, the arrival of Pietersen quickened the Pune run chase as they scored the remaining 44 runs in the next 30 balls. <br/> <br/> 
 Malaysia�s badminton star Lee Chong Wei won his 11th Malaysian Open title Sunday, a much�needed boost for his pursuit of a still�elusive Olympic gold medal.Lee cruised to victory with a flurry of devastating smashes against world number one Chen Long from China beating him 21, 13, 21, 8 in a match that lasted 42 minutes.The world number four shuttler was in fine form for the Malaysian competition after suffering early exits in the All England Championships and India Open in March.Many critics have said that I should retire after some poor performances.<br/> But I know within myself that I am capable of still producing the goods at the highest level and this win was the proof of that said Lee 33. I am happy to win another title here and this triumph certainly boosts my spirits ahead of the Olympics.Chen called Lee a role model for young Malaysian shuttlers and said he was happy to have qualified for the final.It is not easy for a player at his age to maintain a high�level performance year�in year�out and you can see the crowd really appreciated that said Chen.I felt I played well but it was my first time playing in this court and perhaps the drift was too strong.Lee had missed last year s edition because of a suspension after testing positive for a banned anti�inflammatory substance at the world championships in Copenhagen in 2014. But in April last year the Badminton World Federation said the former long�time world number one had accidentally ingested the substance and handed him an eight�month backdated ban which effectively allowed him to resume his career.Lee one of Malaysia's most popular sports stars has repeatedly fallen short in his pursuit of the sport s top prizes � the world and Olympic titles despite reaching three world championship finals and two Olympic deciders. But he has set his sights firmly on crowning his career by winning his first Olympic title in Rio de Janeiro.
 England cricketer Moeen Ali was stopped at the Birmingham airport on Saturday for almost an hour while he was on his way to join his Worcestershire side for a County game.</strongIn messages posted on Twitter, the 28-year-old bearded Muslim sportsman said he had never been stopped at the airport while travelling with the England squad.In Twitter messages exchanged with is British actor Adil Ray, Ali said he was apparently stopped due to airport rules and regulations for buying more than �390 worth of presents for his family."Apparently can't buy gifts for the family that's more then �390," he said in a reply to Ray.Twitter exploded after Ali's reported mistreatment at the airport, with several friends and fans sympathizing with the Muslim cricketer, but some responding with rather insensitive replies to the tweets.Former England batsman Owais Shah said the sad reality of the situation was that Moeen's beard probably prompted airport officials to stop him.Some even went to the extent to suggest that airport authorities shouldn�t be blamed because the Muslim cricketer's beard makes him look like an 'ISIS terrorist'.In response, another follower tweeted a photo of Moeen alongside pictures of the beardless perpetrators of the Brussels bombings.There was no official comment from airport authorities on the incident at the time of publishing of this article.It is worth noting that Moeen was born in Birmingham, the same city where he was detained. Over the years, he has been a stalwart of domestic cricket in the country, representing the England side in all three formats in international cricket.
 With medal hopes hanging in balance India take on Pakistan today (Tuesday) in an intense encounter in the Sultan Azlan Shah Cup.Five�time winners India finished with the bronze last year and have won two out of their three encounters in the tournament beating Japan (2-1) and Canada (3-1).Pakistan have won just one game beating Canada 3-1 before losing to New Zealand and Australia. They are currently sixth in the standings. Pakistan have not qualified for the Olympics in Rio this year but are high on motivation to edge past their subcontinent rivals in Malaysia.The two teams last faced each other at the Hockey World League (HWL) Semi Finals in Antwerp with the game ending 2�2. India went on to reach the semifinals of the event while Pakistan s hopes of Olympic qualification were dashed by a loss to Ireland.India s strength lies in their penalty corner conversion with youngster Harmanpreet Singh grabbing his debut chance for the senior team with both hands. The drag flicker already has two goals in the tournament.A win for India will see them make a strong case to enter the medal rounds while a loss for Pakistan will more or less knock them out of contention. 
 Aaron Finch and Dwayne Bravo helped Gujarat Lions ease into the IPL with a thumping win against Kings XI Punjab in Mohali, the third one-sided affair of the season in three games.Barring the first over, Lions were in total control of the 162 chase after Finch set it up with his first IPL fifty since 2014.Brendon McCullum, fresh off a whirlwind ton in his last Test, danced down the track off Sandeep Sharma in the first over with keeper Wriddhiman Saha standing up.Sandeep, though, anticipated a forward shimmy and bowled the perfect outswinger to leave McCullum stranded. Finch and Suresh Raina then took the attack to the pacers, both capitalizing on loose deliveries along with intermittent swipes.After Raina holed out to mid-on in the sixth over, Finch peppered the boundary with deft touch and exemplary placement, particular behind square on the off side.His 47-ball 74 saw 12 boundaries, and it required a moment of brilliance from the debutant Pardeep Sahu to remove him. Sahu drew Finch forward but the legspinner beat him in flight and loop, as Saha completed his second stumping off the innings.The rest of the innings was a mere formality as Dinesh Karthik accrued his runs in typical fashion, with his sweeps being the most productive.Kings XI were given an ideal start by their openers - M Vijay and Manan Vohra - who saw off the swinging new ball before getting stuck into their work. A blend of crisp drives and flicks earned the pair a fifty-run stand within the Powerplay.The spreading field did not impede Vohra, as he manufactured boundaries with the use of his feet off the spinners.However, momentum shifted rapidly as Ravindra Jadeja struck twice in consecutive overs to remove the openers. Dwayne Bravo undid Glenn Maxwell and David Miller in the space of three balls with contrasting yorkers.Bravo became the first bowler to 300 T20 wickets with his new weapon - the slow, dipping yorker that deceived Miller.Suddenly, debutant Marcus Stoinis and Wriddhiman Saha were left to rebuild a rollicking start. The pair were forced to use the large Mohali pockets to find their runs, but struggled to find the boundaries towards the end. Much of that was down to the efficiency of the Lions bowlers, who executed their yorkers and slower balls.Bravo took two more wickets off consecutive slower balls in the last over, and could have had his best T20 bowling figures had Sarabjit Ladda pouched a skier off the last ball. Just two boundaries and 36 runs were scored off the last five overs, and Kings XI could muster 161.
 Former Pakistan Blind Cricket team captain Abdul Razzaq will assist the visually�impaired players of Sri Lanka for the T20 World Cup of the Blind, scheduled to be held in India in November.Talking to APP, Pakistan Blind Cricket Council (PBCC) Chairman Syed Sultan Shah said the Sri Lanka team, which recently played and lost a Twenty20 and ODI series against Pakistan, had asked them to provide the services of a Pakistani coach.PBCC, he said will select a new�look team for the T20 World Cup.Sri Lankan team manager Narbat Silva said the Sri Lankan blind cricketers had learnt a lot on their tour of Pakistan.We came to Pakistan after eight years and it has developed a lot even more than Sri Lanka, he said.He said, �we really enjoyed playing cricket in Pakistan.Tough we lost yet we will be taking many memories back home. The people over here are good and helpful,� he said.
 Pentangular Cricket Cup tournament will commence at Iqbal Stadium Faisalabad here from April 19 2016.A spokesman of the Iqbal Stadium said here on Sunday that it was earlier decided to hold the Pentangular Cricket Cup, the second major event after the Quaid-e-Azam Trophy, at Multan.However, due to some certain reason, the Pakistan Cricket Board (PCB) has changed its venue and now it is expected to commence at Iqbal Stadium, Faisalabad from April 19.The cricket teams of all the four provinces as well as Islamabad will participate in the tournament for which security clearance is being awaited.All arrangements are being completed rapidly to organize the Pentangular Cricket Cup at Iqbal Stadium which will continue till May 1, he added.
 �American seventh seed Sloane Stephens captured her third title of 2016 by defeating Russian qualifier Elena Vesnina 7-6(4) 6-2 in the final of the Volvo Car Open clay court event in South Carolina on Sunday.The 23-year-old American raced out to a 5-2 lead before Vesnina, the 2011 Charleston finalist, used a slew of winners to win four consecutive games before moving within one point of winning the opening set.Stephens, however, held her nerve producing some of her best tennis in the tiebreak before cruising through the second set."I just said to myself, �You have to fight for every point and compete. � She�s a great player, so I knew I had to stay in every point," said Stephens.<br/> "When I got a couple of opportunities, I took them, so that was great."The win marked the fourth career WTA title for an in-form Stephens, who has been close to her best for nearly a year after winning her maiden title in Washington last August followed by wins this year in Auckland and Acapulco.Stephens, who was 1-5 in Charleston before this week, had two straight-set wins to open the tournament and then saved a match point against rising Russian teen Daria Kasatkina in the quarter-finals.She faced defending champion Angelique Kerber in the semi-finals where she had a 6-1 3-0 lead before the top-seeded German retired with a viral illness.Vesnina had caught fire on the unique green clay courts of Charleston where she arrived as the world number 85 and having won two matches in the qualifying.En route to becoming the first qualifier to make the Charleston final in the tournament�s 44 years, Vesnina upset Switzerland�s Belinda Bencic in the second round and Italy�s Sara Errani in the semis.
 The Pakistan Cricket Board (PCB) chairman Shaharyar Khan has said that the new selection committee will be appointed next week while the new head coach would be selected by first week of May.The PCB is on the lookout for a new coach after Waqar Younis stepped down following Pakistan s poor show at the Asia Cup and ICC World Twenty20.The cricket board also sacked the entire selection panel headed by Haroon Rasheed.PCB has asked candidates to apply for the position of head coach by April 25 after which a committee comprising of former players Wasim Akram and Rameez Raja will take a decision on the new coach.However Shaharyar Khan said that the board is yet to decide whether to appoint a foreign or local coach. But he dropped a hint that the board had already shortlisted a foreign and a local candidate.The new coach will be appointed by first week of May and Wasim is also in India for the IPL to discuss with candidates, Khan said.The names of former Test stalwarts Aaqib Javed, Moin Khan, Mohsin Khan and Mudassar Nazar are doing the rounds for the post of head coach while the board is said to be eyeing Tom Moody and Dean Jones as the best possible foreign candidates.Moody is busy in the IPL while Jones recently coached the title winning Islamabad United in the Pakistan Super League.Khan said that the new selection committee would be named by late this week or next week as the board wanted the selectors to also watch the Pakistan Cup one-day tournament in Faisalabad starting next week.He confirmed that Mohsin Khan had been offered the post of chief selector but he declined. Mohsin is more inclined towards coaching the national team, he added.The names of former Test spinner Iqbal Qasim, Moin and Mohsin are also being tipped to head the selection committee.The PCB chief said �the board would now make appointments after giving it proper thought as the national team had tough tours to England and Australia and there was a need to improve its rankings in all three formats�.
 India�s�ace tennis player Sania Mirza received the Padma Bhushan, India�s third highest civilian honour from President Pranab Mukherjee at a glittering function at Rashtrapati Bhavan�in New Delhi on Tuesday.On Monday,�Sania�was�also honoured at the NRI of the Year Award 2016.It has been a good year for Sania as the 29-year-old forged a formidable partnership with Swiss sensation Martina Hingis last year and some incredible performances saw the pair bag one laurel after another.Mirza and Hingis however saw their incredible winning run come to a halt earlier this year as they bagged their first defeat in 42 matches at the WTA Qatar Open.Following that, the pair fondly named "SanTina " suffered back-to-back second round exits in the Miami Open as well as the Indian Wells.�However, the performance shown by the duo last year gave immense reasons for the Government of India to consider Mirza for the country's third-highest civilian award.Mirza and Hingis won the Wimbledon 2015 women's doubles title, the US Open 2015 women's doubles title as well as the Australian Open 2016 women's double title to solidify their numero uno position at the WTA doubles rankings.Sania, meanwhile, is also a recipient of the Arjuna Award, the Rajiv Gandhi Khel Ratna, as well as the Padma Shri.�
 Pakistan were humiliated by a 5-1 defeat by India in a crucial match of the Sultan Azlan Shah Hockey Cup at Ipoh city of Malaysia on Tuesday.Pakistan players failed to impress as their arch rivals India dominated the scene throughout the match to won by a big margin.Manpreet Singh with brilliant tactics helped�India�take an early lead in the first quarter but just a few minutes later, Pakistan captain Muhammad Irfan equalled the score 1-1, converting a penalty corner into goal.Then after a while,�SV Sunil scored second goal for India on a pass from Manpreet. India were leading the match 2-1 at the end of the first half.However, the second half proved a nightmare for�Pakistan as India scored three goals. SV Sunil,�Talwinder Singh and�Rupinder Pal Singh were the scorers as India at the end emerged victorious by 5 goals to one.Pakistan�had won only one match and lost three games in the tournament. They started off with beating Canada but lost to New Zealand and Australia 5-3 and 4-0, respectively.India, on the other hand, defeated Japan and Canada but were crushed by Australia 5-1 in the tournament.Pakistan will now play their two remaining matches in the tournament, one against Malaysia on April 13 and the other against Japan on April 15. 
strong>England batsman James Taylor has been forced to retire from cricket at the age of 26 due to a serious heart condition, the England and Wales Cricket Board (ECB) said on Tuesday.</strongTaylor, who plays county cricket for Nottinghamshire, withdrew from last week's game against Cambridge MCCU with what was believed to be a viral infection.However, scans revealed he has a serious heart condition known as Arrhythmogenic Right Ventricular Arrhythmia (ARVC)."Safe to say this has been the toughest week of my life! My world is upside down. But I'm here to stay and I'm battling on!" Taylor said on his Twitter account.The middle order batsman played seven test matches and 27 one-day internationals for England and captained the side against Ireland in May last year."It is both shocking and saddening to hear that James' career has been cut short in such a sudden and unexpected manner," England team director Andrew Strauss said in a statement released by the ECB."Throughout his career, he has constantly impressed with his determination to make the absolute most of his ability, and it is immensely cruel that such a hard working player will be unable to fulfil his great potential in the international arena."The ECB will work closely with Nottinghamshire and together we will do everything possible to help James through this difficult period, and aid him in his recovery."
 Mitchell McClenaghan walked out at No. 4 for Mumbai Indians. It is not like the side is short of hitters but Jos Buttler caught fire only after the spark provided by McClenaghan's eight-ball 20. The events between the 11th and the 15th overs of the chase decided the winner of the match - Mumbai, by six wickets.McClenaghan's responsibility - under normal circumstances - was to slip into Lasith Malinga's shoes. Be the wicket-taker at the start and the enforcer at the end. Today, he was asked to disrupt the Kolkata Knight Riders' rhythm. And he was given the freedom to do so. Every single shot played by the New Zealand fast bowler was a slog. His second, third and fourth balls cleared the Eden Gardens boundaries. The eighth - a wide full toss that he tried to slog sweep - led to his downfall but by then Mumbai had regained lost momentum. And Buttler simply ran with it.A straight drive against chinaman Brad Hogg was followed by a pulled six. The equation shrunk from 101 off 60 balls to 49 off 30. A scoop to the fine leg boundary - which established Buttler's finesse - and two lofted cover drives - which established his power - deflated Knight Riders. Gautam Gambhir, who had taken the record (27) for the most fifties in the IPL earlier in the night, watched the ball soar and the chances for his team sink with every minute Buttler was on strike.When Buttler eventually fell for 41 off 22 balls, the Mumbai captain, Rohit Sharma, back at his preferred opening position, provided more evidence of why he should be given as many overs as possible in a T20 game. Rohit held the innings together and even finished it off with an array of beautiful shots - a straight six and a deft glide to third man. He followed those up with an outrageous sweep taking an overpitched delivery coming at him with the express pace of Andre Russell from around the wicket, and deposited it at the midwicket boundary. 
 New Zealand�s Brendon McCullum and Kane Williamson as well as Australia captain Steven Smith have been chosen among the Wisden Almanack�s �Five Cricketers of the Year�, announced Wednesday.The quintet is completed by the England duo of all�rounder Ben Stokes and Jonathan Bairstow.In the personal gift of the editor of cricket�s bible, which has been published annually since 1864, a player can only be named as a �Cricketer of the Year� once in his career.Generally the award is decided on players� performances in the previous English season and Australia�s Smith was included when, despite his side being beaten 3-2 in the Ashes, he emerged as the series� leading run-scorer with a double century at Lord�s and 143 at The Oval in the visitors� two wins.The 2016 edition also saw New Zealand batsman Williamson named as the Leading Cricketer in the World, after his 2,692 international runs across the formats in 2015, � the third�highest annual aggregate ever.McCullum, who retired this year, was included as much for his bold captaincy as his aggressive batting with New Zealand�s dynamic approach widely reckoned to have helped transform England�s play in both Test and one-day cricket as well.Williamson and McCullum were not the only New Zealanders honoured by Wisden, with compatriot Suzie Bates, chosen as the women�s Leading Cricketer.Stokes was one of the stars of England�s Ashes success while wicketkeeper batsman Bairstow also played his part as well as helping Yorkshire win the County Championship.During England�s recent tour of South Africa, the pair shared a monumental stand of 399, which featured Stokes�s blistering 258 and Bairstow�s maiden Test century.Wisden editor Lawrence Booth praised England for their revival after their embarrassingly early exit at the 2015 World Cup in Australia and New Zealand.�
 With an aim to groom the youth, the Pakistan Cricket Board (PCB) has decided to include an Under-19player in each of the regional teams for the Pakistan Cup.The PCB in a statement here Wednesday, said each regional team would support a 16-member squad instead of 15. The additional person would be an U-19 player.One U-19 player must be included in the Playing XI for each team, it said.The U-19 players added in the squads include Sameen Gul (KhyberPakhtunkhwa, right-arm fast bowler), Shadab Khan (Federal, right-arm leg-spinner &amp; right-hand middle-order batsman), Salman Fayyaz (Punjab, left-hand middle-order batsman &amp; right-arm leg-spinner), Ghulam Haider (Balochistan, left-arm spinner) and Hasan Mohsin (Sindh, Captain U-19, right-hand batsman &amp; right-arm medium-fast bowler).<br/> �
strong>Cristiano Ronaldo's fifth Champions League hat-trick inspired Real Madrid to a 3-0 comeback victory over VfL Wolfsburg on Tuesday that clinched a place in the semi-finals for a sixth successive season.</strongThe prolific Portuguese got the 10-times European champions, 2-0 down from the first leg, off to a perfect start by tapping in Daniel Carvajal's cross after 16 minutes and heading a second goal less than a minute later from Toni Kroos' corner.Ronaldo capped a 3-2 win on aggregate when he curled in a free kick after 77 minutes, his 16th goal in this season's competition taking him within touching distance of his record of 17 in 2013-14.He also equalled Barcelona rival Lionel Messi's record of five Champions League trebles as he took his goal tally in all competitions this season to 46."It's a day for celebration," said Real coach Zinedine Zidane. "We won with character, fight and effort and I'm very proud of the players."The sensation is of a job well done because it wasn't easy. It was a special night...I'm very happy with the players because they did a phenomenal job."Zidane's only change from the first leg was to replace the much-criticised Danilo at right back with Carvajal.Opposite number Dieter Hecking kept the same lineup that served him so well at the Wolfsburg Arena.strong>GREAT FIGHTBACKS</strongReal have a reputation for staging great fightbacks in Europe but they had not overturned a first-leg deficit in the Champions League since 2002 when Zidane, as a player, helped them beat Bayern Munich 2-0 at the Bernabeu after a 2-1 reverse.The home team's intent was clear when defender Sergio Ramos headed the ball against the crossbar early on and they soon started turning the tie back in their favour.Carvajal vindicated Zidane's decision when he beat Julian Draxler to the ball in midfield before setting up Ronaldo's opening goal.Wolfsburg tried to recover and they missed a couple of chances to get on the scoresheet.The 31-year-old Ronaldo, top scorer this season in La Liga and the Champions League, had different ideas though and he sent the Bernabeu crowd wild with delight by scoring twice more."It was a fantastic night," said Real full back Marcelo. "The fans were phenomenal and without them we wouldn't have been able to turn the game around."In the Champions League you have to suffer. No team gets to the semi-finals without suffering."
 Royal Challengers Bangalore blasted the first 200-plus score of the tournament in an emphatic 45-run win over Sunrisers Hyderabad at the M Chinnaswamy Stadium. In doing so, they also bucked the season's early trend of chasing teams prevailing.AB de Villiers (82) and Virat Kohli (75) provided a visual treat courtesy a fine cocktail of fineness and brute force in a 157-run second-wicket stand, before Shane Watson announced himself by muscling three successive sixes in an over from Karn Sharma. The final flourish was lent by Sarfaraz Khan, who in his typically unorthodox fashion, paddled and reverse-paddled his way to an unbeaten 10-ball 35 as Royal Challengers finished with 227 for 4.Deflated and dejected, Sunrisers went for broke, wiping out 83 for the loss of Shikhar Dhawan in eight overs. David Warner, who returned to open after a brief flirtation in the middle order with Australia in the World T20, showed why he is one of the most feared white-ball strikers. He muscled three sixes and five fours in a 21-ball half-century before falling into the short-ball trap laid by Watson.The pressure of the required rate eventually got to Sunrisers and the chase went cold as the team lost Warner, Naman Ojha, Henriques and Deepak Hooda in the space of 17 deliveries, meaning they could only muster 182 for 6. Parvez Rasool was the pick of Royal Challengers' bowlers, returning 1 for 31 in a crafty spell of offspin bowling, even as Watson and Yuzvendra Chahal, the legspiner, chipped away with two wickets.Chris Gayle's dismissal for 1 in the second over of the match to Bhuvneshwar Kumar, when the ball brushed the thigh pad and deflected onto the leg stump, was a rare moment to cheer for a listless Sunrisers bowling attack that was further depleted when Ashish Nehra, their pace spearhead, hobbled off the field after just 2.1 overs. That resulted in a batting feast for two men in a murderous mood as Royal Challengers blasted 139 off the last 10 overs.The only semblance of respect from Kohli and de Villiers came early on when Mustafizur Rahman, making his IPL debut, troubled them with his cutters. Once the job of seeing off his initial burst - a two-over spell - was done, they let loose. Sarfaraz's unbeaten 44-run stand off just 15 deliveries with Kedar Jadhav ensured Royal Challengers had momentum firmly by their side at the break.Dhawan's early wicket to Rasool was a setback for Sunrisers, but Warner's muscle kept his team in the hunt as Kohli rang in the changes in a bid to pull things back. Adam Milne's second spell, in which he had Moises Henriques mistime a pull to midwicket, opened the game up. Once Royal Challengers had one foot in the door, it was a simple matter of forcing it open, which they did quite easily. In the end, even Ashish Reddy's big hitting was merely a footnote for Sunrisers in what was a forgettable outing.�
 A four-member Pakistan snooker team is all set to feature in the 32nd ACBS Asian Snooker Championship that rolls into action at Doha, Qatar, from Saturday.</strong�Our cueists are already in Qatar to chip in the event. We had sent them last week on the special request of Qatar Billiards &amp; Snooker Federation for a joint training and practice camp with their country�s cueists�, President of Pakistan Billiard and Snooker Association (PBSA) Alamgir A. Sheikh said on Thursday.The newly crowned national champion Mohammad Bilal will be making his debut in the Asian Championship with the trio of Sohail Shehzad, who ended as runner-up in the last edition of the national championship, Mohammad Asif, former world champion and Mohammad Sajjad, a former world number two.
Maria Sharapova still faces a hearing after testing positive for meldonium, despite the World Anti-Doping Agency issuing fresh rules for athletes who tested positive for the banned substance before March 1, the International Tennis Federation has said./>Five-times grand slam tennis champion Sharapova tested positive for the drug at this year�s Australian Open after it was added to WADA�s list of banned substances in January.WADA said in a notice on Wednesday that athletes who tested positive for meldonium before March 1 could have bans overturned as the agency was unable to establish how quickly the drug cleared the human body./>But the change in policy will have no bearing on Sharapova�s case, the world tennis governing body said. "In light of the recent notice from WADA regarding the process for dealing with cases involving meldonium, the ITF can confirm that the Tennis Anti-Doping Programme case involving Maria Sharapova will proceed to a hearing in accordance with WADA�s recommendations," the ITF said in a statement on Wednesday."The ITF does not intend to make any further statement until completion of this process due to the confidentiality of the Tennis Anti-Doping Programme.
 Maria Sharapova and scores of other athletes who have tested positive for meldonium could be handed a lifeline after the World Anti-Doping Agency said there was a lack of scientific evidence about how long the drug stays in the system.Amid growing confusion about the status of an avalanche of positive tests for the drug, which was banned on 1 January this year, Wada said its preliminary tests showed that it could take weeks or months for the drug to leave the body. In such cases, athletes �could not reasonably have known or suspected� that the drug would still be present in their bodies after 1 January, said WADA in a �clarification paper� to its code signatories on how they should prosecute meldonium cases.�In these circumstances Wada considers that there may be grounds for no fault or negligence on the part of the athlete,� it added. Sir Craig Reedie, the president of Wada, said: �It is designed to explain the science that we know. The issue that it deals with is the time this drug takes to come out of the system. It�s an attempt to clarify the many questions that we�ve been asked.�The Russian sports ministry and national Olympic committee welcomed the Wada statement, and the country�s officials suggested there could be a mass amnesty of Russian athletes.The head of the Russian tennis federation (RTF), Shamil Tarpishchev, told the R-Sport agency he hoped Sharapova would be able to play at the Olympics in Rio de Janeiro in August, while the head of the Russian swimming federation suggested there could be a swift return to competition for the suspended world champion Yulia Efimova.A Wada spokesman said talk of an amnesty was �wide of the mark� and that the document was designed to clarify the position.Sharapova confirmed last month that she had tested positive for meldonium during the Australian Open. She was one of 172 athletes, many of them Russian, to test positive for the drug since it was banned in January.�
 The Cool &amp; Cool presents Haier Pakistan Cup 2016 begins in Faisalabad on April 19 with a clash between Brighto Paints Balochistan and Cookania Cake Rusk Punjab. <br/> <br/> The tournament is a part of PCB�s efforts to further improve the quality of domestic cricket in the country. In total, 11 50-over matches will be played at the Iqbal Stadium Faisalabad with the country�s top cricketers showcasing their skills. <br/> <br/> Each team will play four league matches before the top two teams qualify to play the final on May 1. Player remunerations have been increased by 100% for the tournament with a key focus on ensuring player welfare. <br/> <br/> Weekend clashes are set to attract fan interest as Sarfaraz Ahmed�s Inverex Sindh takes on Misbah ul Haq�s ZIC Islamabad on Saturday. <br/> <br/> Sunday�s clash between Younus Khan�s Giggly Boom Boom Bubble Gum Khyber Pakhtunkhwa and Brighto Paints Balochistan is also going to attract keen interest from cricket-lovers. <br/> <br/> Pakistan�s T20 skipper Sarfraz Ahmed believes that the tournament will be a huge stepping stone for young cricketers. <br/> <br/> �We have a great chance to polish our 50-over skills ahead of a long season. It is great to see these innovations and I am confident that the youngsters are looking forward to this,� said Sarfraz. <br/> <br/> National ODI captain Azhar Ali, who is leading a strong Balochistan side, also threw his weight behind the tournament. �Pakistan Cup is going to provide quality entertainment to cricket fans. All five squads are evenly balanced and this will ensure competitive cricket,� said Azhar.
 World tennis number two Andy Murray raced into the semi-finals of the Monte Carlo Masters with a 6-2 6-0 demolition of Canadian Milos Raonic on Friday.Opening proceedings on centre court, the Briton, who struggled in the previous round, was never bothered by 10th seed Raonic in a one-sided encounter.Murray, who hit 19 winners and did not face single break point, will next face either eight-times champion Rafa Nadal or 2014 winner Stan Wawrinka.
 Western Australia bowling coach Adam Griffith and former England batsman Graham Hick will join the Australian side temporarily for their one-day triangular series in the West Indies in June, Cricket Australia said on Friday.Justin Langer will take the side to the Caribbean to give regular head coach Darren Lehmann a break before their tour of Sri Lanka in July and August."We are excited to have Adam join the team for the tour of the West Indies," Lehmann said of Griffith�s appointment for the June 3-26 tournament, which also includes South Africa. "West Australia have some talented young fast-bowlers that have developed under Adam�s watch and it�s great to be able to offer him the chance to work with the Australian side under Justin Langer."Australia are looking for a full time bowling coach after former international quick Craig McDermott stepped down following the World Twenty20 tournament in India earlier this month.The 38-year-old Griffith played 50 first class matches for Tasmania as a right-arm fast-medium bowler but his career was curtailed with serious injuries before he retired in 2010 and took up a coaching role at Western Australia in 2011."The opportunity to work with Australia�s premium bowlers is incredibly exciting," Griffith said. "The West Indies and South Africa have some of the most destructive white ball batters in the world and preparing to play them in Caribbean conditions will be a great challenge."Former England batsman Hick, who is the national cricket centre�s high performance coach, will also join the side as an assistant coach in the West Indies.<br/> Hick has worked at the national cricket centre for the past three years.�
 The arrangements were being finalized at Iqbal Stadium for organizing Pakistan Cricket Cup, a national level event from April 19 onwards.The caretaker of Iqbal Stadium informed that nine pitches including four new ones were ready in the stadium for organizing cricket tournament.He said the stadium had seating capacity for 18,000 spectators while necessary repair, maintenance, renovation, installation of electric fans, air�conditions, chairs and lights were ongoing at VIP and general enclosures.The cricket teams of all the four provinces as well as Islamabad will participate in the tournament, which will continue till May1.
 The Pakistan Cricket Board has decided to appoint former captain and legendary batsman Inzamam-ul Haq as chief selector, Geo News reported.</strongSources said the PCB would make a formal announcement of its decision shortly.Inzamam ul Haq is currently serving as coach of the Afghan cricket team.
 Pakistan Cricket Board (PCB) has decided to appoint former captain Inzamam-ul-Haq as chief selector and requested Afghanistan Cricket Board (ACB) to release him for the Pakistan job.</strongThe formal announcement is likely to be made on Monday.Inzamam-ul-Haq is currently contracted as head coach of Afghanistan.PCB chief Shaharyar Khan contacted Afghan board and asked a favour to release Inzamam-ul-Haq as Pakistan is keen to hire him.Sources said the Afghan cricket board has accepted the resignation of Inzamam after PCB request.The move comes after Waqar Younis, who recently resigned as Pakistan's head coach, argued in favour of hiring Inzamam as chief selector.Inzamam joined the Afghanistan set-up as head coach for the team's tour of Zimbabwe in late 2015. After Afghanistan won the ODI and T20I series in Zimbabwe, he signed a contract extending his tenure in the position.According to sources, a formal announcement regarding Inzamam�s appointment as chief selector is expected to be made by the Pakistan Cricket Board on Monday.
 West Indian cricket team has rejected Pakistan Cricket Board offer to play ODI matches in Pakistan due to security concerns, Geo News reported on Sunday.</strongThe West Indies are set to play Pakistan in two Tests, five One Day Internationals (ODIs), and two Twenty20 Internationals in the UAE in September. Sources told Geo News that the PCB had asked for couple of ODI games to be shifted to Pakistan in a bid to resume international cricket in home grounds as no major team has toured the country since militant attack in Lahore on Sri Lankan team in 2009.The sources said the whole series would be played in the United Arab Emirates.�
 Former Pakistan cricket team skipper Inzamamul Haq on Monday assumed charge of the position of chief selector for the national team.</strongAddressing a press conference in Lahore, Inzamamul Haq flanked by Pakistan Cricket Board (PCB) Chief Shahyar Khan, said: �I will try to justice [to my selection]. I won�t quit in the middle.�Inzamam�s selection committee will comprise former opening batsmen Tauseef Ahmed, Wajahatullah Wasti and former all-rounder Wasim Haider.Inzamam was recently serving as Afghanistan�s head coach and the Pakistan Cricket Board (PCB) supremo Shaharyar Khan had to request the Afghanistan Cricket Board (ACB) chief Shafiq Stanikzai to release the batting great from his contract.The 46-year-old Inzamam guided Afghanistan to the Super 10 stage of the recent World Twenty20 in India, during which they defeated eventual champions West Indies.Pakistan exited the World T20 after losing three of their four games in the Super 10 stage prompting head coach Waqar Younis to resign.Inzamam played 378 one-day internationals and 120 Tests for Pakistan and also served as the team�s batting consultant for a brief period in 2012.PCB Chief Shahryar Khan announced to make Mushtaq Ahmed as Head Coach of the National Academy.He warmly welcomed Inzamamul Haq as the Chief Selector for Pakistan cricket team, saying he is glad the former batsman came forward to serve the national team and country.Shahryar Khan said the PCB has been in contact with former Pakistani cricketers for the vacant slot of head coach. He said it is not mandatory for coach to be a foreigner.
 Lionel Messi's 500th career goal couldn't prevent Barcelona's incredible slump in form from continuing with a fourth defeat in five games 2-1 at home to Valencia on Sunday.</strongAtletico Madrid are now level on 76 points with Barca at the top of La Liga with five games remaining as they beat Granada 3-0, but the Catalans retain the lead thanks to their superior head-to-head record.Third-placed Real Madrid are also only a point behind thanks to their 5-1 win at Getafe on Saturday.Valencia were beaten 7-0 by Barca on their last trip to the Camp Nou just two months ago under former boss Gary Neville, but gained revenge thanks to Ivan Rakitic's own goal and Santi Mina's classy finish before half-time.Messi ended a five-game goal drought to bring up his 500th for club and country, but couldn't inspire a Barca fightback as their alarming collapse in recent weeks continued after a 39-game unbeaten run.Having looked well set for a second consecutive treble just two weeks ago, Barca could now miss out on all three major trophies as they were dumped out of the Champions League by Atletico in midweek and have taken just one point from their last four La Liga games.However, in contrast to recent defeats, Barca boss Luis Enrique praised the performance of his side and believes they are capable of winning their last five games to retain the title."Luck didn't shine on the team. I congratulate my players for how they faced the adversity during the game," said Enrique."We still depend on ourselves. Our margin for error has run out and we are aware of the challenge."Now we have a marvellous challenge, five games in which if we win them all we are champions"Barca started brightly, but were repeatedly denied by fine saves from Valencia goalkeeper Diego Alves.The Brazilian blocked Messi's volley from close range before somehow springing to punch away Neymar's lob which seemed destined to evade him.However, Valencia amazingly went in at half-time two goals to the good having had just one shot on target.The visitors went in front on 27 minutes when Rakitic turned Guilherme Siqueira's cross into his own net at the near post and doubled their lead thanks to a brilliant move in first-half stoppage time as Dani Parejo played in Mina to fire into the far corner.Rakitic had a huge chance to make amends for his own goal a minute into the second-half, but pulled his effort tamely wide from Luis Suarez's fine cut-back.However, Barca were finally given hope when Jordi Alba's low cross was turned home by Messi to reach another historic landmark.Alves came to Valencia's rescue once more with his best save of the night low to his right to prevent Rakitic equalising 15 minutes from time.Neymar's fiercely struck volley was somehow deflected behind by Shkodran Mustafi, but Valencia should also have killed the game off at the other end when Paco Alcacer miscued from point-blank range allowing Sergio Busquets to clear off the line.Gerard Pique then had a glorious chance to salvage at least a point late on, but he pulled his shot wide with just Alves to beat.In contrast to Barca's collapse, Atletico are flying in the final stages of the season as Fernando Torres struck his fourth goal in as many games in a routine win over Granada."It will be tough (to win the league), but we will play as the schedule demands us to which is to win, win and win again," said Atletico boss Diego Simeone.Koke ensured Atletico would have no hangover from their efforts in dispatching Barca from the Champions League in midweek as he swept home the opener on 15 minutes before teeing up Torres to dink home just before the hour mark.Substitute Angel Correa rounded off the scoring with a cool finish seven minutes from time.
strong>Sri Lankan speedster Lasith Malinga has been ruled out of the ongoing Indian Premier League (IPL) because of a lingering knee injury that kept him out of this year's World Twenty20.</strongThe 32-year-old paceman, one of the deadliest bowlers in limited overs cricket, hurt his knee against West Indies late last year.Since then, the recovery has been slow, forcing Malinga to hand over the 20-over captaincy to Angelo Mathews on the eve of the World Twenty20 and then miss the entire tournament as Sri Lanka's title defence crumbled in India."MI's star pacer, Lasith Malinga has been ruled out of IPL 2016 due to a knee injury," his IPL team Mumbai Indians said on their Twitter handle."Malinga was expected to miss the first few matches of MI's IPL '16 campaign but the recovery period is longer than previously expected," said the team coached by former Australia captain Ricky Ponting.The slow recovery now casts doubt over Malinga, easily recognisable with his blond-highlighted hair, being available for Sri Lanka's tour of England beginning next month and his participation in the Caribbean Premier League in June-August.Sri Lanka Cricket said Malinga would be assessed by a panel of doctors who would determine if he needed surgery.
 �South African Branden Grace delivered a final-round master class to clinch a long expected first victory on the PGA Tour by two shots at the RBC Heritage in South Carolina on Sunday.The world number 14, who thrust himself into the limelight at the game�s highest level with top-four finishes last year at the U.S. Open and PGA Championship, closed with a superb five-under-par 66 at the Harbour Town course on Hilton Head Island.Helped by pinpoint distance control with his irons and brilliant putting on lightning-fast greens, Grace mixed seven birdies with just two bogeys to post a nine-under total of 275 in the first PGA Tour event after last week�s Masters.Third-round leader Luke Donald of England, striving to end a four-year title drought on the U.S. circuit, carded a 71 to share second place with Scotland�s Russell Knox, who signed off with a 67 on a sun-bathed afternoon.
 Six-time world snooker champion Steve Davis announced his retirement from the sport on Sunday.The 58-year-old Englishman lost to Fergal O'Brien in the first round of qualifying for this year's World Championship and later decided that would be his final competitive match."That was my last match as a professional," Davis told the BBC. "So I'm calling it a day."I phoned up Barry (Hearn, his long-time manager) and told him it was on my mind to enter the World Championship and make that the last. I said, 'Barry, I think it's time to retire from professional snooker'."And he said, 'Steve, you retired 10 years ago we just didn't have the heart to tell you'," added Davis, who won the last of his world titles in 1989.Sunday saw Davis take a bow in front of spectators at the Crucible Theatre in Sheffield, northern England, the venue for all his world title successes and where this year's edition is ongoing, with the World Championship trophy.Davis said the death of his father Bill, who introduced him to snooker, in March had helped confirm his decision to retire after several years without a major trophy."And my father wasn't very well. So I entered, for him, this year's World Championship. He was still alive when I entered, then he passed away so I played the match against Fergal. That was the only match I ever played without him."Davis' six World Championships in 1981, 1983, 1984, 1987, 1988 and 1989 were among 28 titles he won in a stellar career.Yet he will be just as well-remembered by many sports fans, rather than snooker die-hards, for a final frame defeat off the very last black by Dennis Taylor in the 1985 World Championship final - a match that drew a record television audience of 18.5 million viewers.Reflecting on a career that started in 1978, he added: "The first match I remember as a professional was in Pot Black, against Fred Davis on television, and I potted a ball down the cushion.
 Barcelona�s stuttering title bid suffered another setback when they lost 2-1 at home to Valencia as they registered a third straight La Liga defeat for the first time since 2003.Luis Enrique�s shell-shocked side are level on 76 points with Atletico Madrid, who knocked the holders out of the Champions League in midweek, and remain top only due to a superior head-to-head record.An own goal by Ivan Rakitic put Valencia ahead after 27 minutes and Santi Mina added a second just before halftime to stun the Barca supporters at the Nou Camp.<br/> Lionel Messi scored his 500th career goal to reduce the deficit after 64 minutes but the struggling hosts, who have squandered a nine-point lead, could not find an equaliser.Valencia goalkeeper Diego Alves produced a spectacular save to deny Rakitic late on and Gerard Pique agonisingly missed the target at the near post in stoppage time.Earlier, Atletico Madrid eased to a 3-0 home win over struggling Granada to go level with Barcelona on points after Fernando Torres grabbed his fourth goal in as many games.Spain international Koke opened the scoring after 15 minutes and then teed up Torres for the second in the 59th, while substitute Angel Correa rounded off the victory in the 83rd.Atletico, boosted by a 2-0 win over Barca on Wednesday which put them into the Champions League semi-finals, started brightly with Koke blazing over the bar moments after kick-off.The midfielder proved more accurate minutes later, pouncing on a loose ball after Torres�s effort was blocked and drilling a shot into the net.Granada winger Ruben Rochina hit the post later in the half before Torres eased Atletico�s nerves by notching the second, latching onto a threaded pass by Koke to lift the ball over goalkeeper Andres Fernandez and into the far corner.Argentine forward Correa came on to replace Atletico�s top scorer Antoine Griezmann and made the most of his cameo appearance by racing onto a pass from Saul Niguez down the left and tucking the ball into the far bottom corner.
 Sri Lanka spinner Rangana Herath has retired from 50-over and Twenty20 internationals in order to carry on playing Test matches, the country�s cricket board said on Sunday.The 38-year-old took 74 wickets in 71 one-day internationals and another 18 in 17 T20 matches for the island nation, shouldered the burden of the slow bowling attack following the retirement of spin great Muttiah Muralitharan in 2011.Every cricketer has to stop at the right time, I feel it�s time to make room for fresh talent to be groomed with the 2019 World Cup in view," Herath was quoted as saying in a statement from Sri Lanka Cricket.Arguably the left-arm spinner�s best effort came at the 2014 World Twenty20, where he took five wickets for just three runs as Sri Lanka successfully defended a 120-run target in a must-win match against New Zealand en route to the title."Sri Lanka Cricket wishes Herath nothing but the best as he continues to play cricket in his chosen discipline, and in all future endeavours," the board said.
 Virat Kohli�s 48-ball 79 powered Royal Challengers Bangalore to 191 for 5, and AB de Villiers and Shane Watson chipped in with 55 and 33. But their efforts were put to shade by Quinton de Kock, who made a bruising 51-ball 108, the first hundred in IPL 2016, to power Delhi Daredevils to a seven-wicket win at the M Chinnaswamy Stadium.While De Kock starred in the lead role, Karun Nair, who hails from Bangalore, played the supporting role in 134-run third-wicket stand that came off 76 balls.Kohli showed he can be equally dangerous when setting targets. The groundwork was laid during the course of his second-wicket stand of 107 with de Villiers before Daredevils hit back with a tremendous exhibition of late-overs bowling courtesy the returning Mohammed Shami and Chris Morris, who conceded only 27 off the last four overs.Daredevils were dealt an early blow when Shreyas Iyer was dismissed by Shane Watson but it had little effect on de Kock as he pierced a packed off-side field for three fours off the offspinner Parvez Rasool in the second over.De Kock was particularly punishing through the off side, a majority of his runs coming behind square. Once he was set, the other elements to his game surfaced. A nonchalant flick off Harshal Patel in the ninth over soared over deep square leg, and once he was into the 90s he used the pace to scoop the ball over short fine leg. The end result was a wagon wheel with spokes all around the wicket.De Kock's sparkling form helped Daredevils ride a trough when Sanju Samson struggled to play his shots, but his dismissal in the sixth over turned their fortunes. Nair and de Kock got stuck in against Yuzvendra Chahal, Harshal Patel and David Wiese, whose combined tally at one point was 78 conceded off seven overs. Their predictability put immense pressure on Watson to deliver with the ball as the equation came down to 56 off the last six overs.De Kock brought up his century off his 48th ball. Once into the home stretch, there was a sense of inevitability to the game. After De Kock walked off to a round of applause from Watson, who had him caught behind, Duminy struck the winning runs, Chahal fielding his straight punch but giving away an overthrow with an underarm flick to try and catch Nair out of his crease.������������������������������������������������������
 South Africa are reluctant to play a day-night test during their tour of Australia as they have no experience with the pink ball, the Proteas� players association chief has said.</strongSouth Africa will tour Australia in a three-test series in the home summer and Cricket Australia announced last year that they wanted one of the fixtures to be a day-night match.Australia hosted New Zealand in the first day-night test in November and while the match drew huge crowds and big television audiences players on both sides complained that the ball was hard to see at times.The pink ball has been developed for day-night test cricket, replacing the traditional red ball which becomes too difficult for batsmen to see after dark."Our players are not in favour of playing the game under those conditions," South African players� association Chief Executive Tony Irish told The Australian newspaper."The main reason is we feel disadvantaged. Not one of our players who will compete in that test has played test match cricket, or any cricket, with a pink ball."The reluctance to play is a sign of how much importance the South African players place on the series against Australia," Irish added.New Zealand players had similar misgivings about last year�s fixture in Adelaide but were given a A$1 million ($777,000) sweetener by Cricket Australia to commit.Organisers hailed the test a success, despite Australia wrapping up victory in three days.Adelaide tests are traditionally well supported by local fans and interstate visitors but the total attendance of 123,000 was a record in the city for a non-Ashes fixture.Australia, who have also used the pink ball in domestic Sheffield Shield matches, host Pakistan in a three-test series in the coming home summer, with a match at Brisbane�s Gabba ground tipped to be played under lights.Cricket Australia will announce their summer schedule on Wednesday and declined to comment on South Africa�s reservations about the pink ball.
 World number ones Novak Djokovic and Serena Williams completed a clean sweep for tennis as they won the Laureus Sportsman and Sportswoman of the Year awards on Monday.In a glitzy ceremony in the German capital, hosted by U.S. actor Bill Murray, Serbia�s Djokovic beat Barcelona footballer Lionel Messi, sprinter Usain Bolt and Formula 1 champion Lewis Hamilton among others for the top men�s award at the annual ceremony.Djokovic and American Williams, who fought off competition from footballer Carli Lloyd and Jamaican sprinter Shelly-Ann Fraser-Pryce among others, were rewarded for dominating their sport last year, with each winning three of the four grand slams.Both athletes picked up the top prize for the third time, with Williams having previously won it in 2003 and 2010 while Djokovic was also victorious in 2012 and 2015.Golfer Jordan Spieth won the Breakthrough of the Year award after capturing his first two majors at the 2015 U.S. Masters and U.S. Open, while New Zealand�s All Blacks won Team of the Year award following their World Cup victory.There was some joy for the host nation as well with triathlete Jan Frodeno grabbing the Action Sportsperson of the Year prize.Dutch footballer and coach Johan Cruyff, who died of cancer in March, was posthumously awarded the Spirit of Sport award. His son Jordi received the award.
 David Warner�s unbeaten 59-ball 90 steered Sunrisers Hyderabad to their first win of the season after their bowlers had kept Mumbai Indians to 142 in conditions that led to a well-matched contest between bat and ball.Southee kept Mumbai in the game with three well-timed wickets, starting with a late-swinging yorker to Shikhar Dhawan, but Mumbai kept feeding Warner a steady supply of release balls, which he put away merrily.He ended the game with two sixes in three balls, flat-batting Mitchell McClenaghan over mid-off and pulling him over deep square leg, and Sunrisers were home with 15 balls remaining. Mumbai's defeat was their third in four matches.It only took four balls for Bhuvneshwar Kumar to strike, though it was swing rather than seam that did the damage. With Kieron Pollard out due to food poisoning, Mumbai had brought in Martin Guptill, and his debut innings in the IPL was terminated by a perfectly pitched outswinger that kissed his edge through to the wicketkeeper.Parthiv Patel looked distinctly uncomfortable against the swinging ball, playing and missing repeatedly before he was bowled by a back-of-the-hand slower ball from Barinder Sran that jagged in like a left-arm wristspinner's googly. Then came a self-inflicted wound - Rohit, who came in at No. 4, running himself out while looking for a suicidal single. When Jos Buttler, surprised by extra pace from Sran, gloved an attempted pull in the 11th over, they were 60 for 4 and going nowhere.At the crease now were Ambati Rayudu, who had been promoted to No. 3, and Krunal Pandya, who had been promoted to No. 6 ahead of his brother Hardik, who had batted at No. 3 in all of Mumbai's previous matches. All the meddling with the batting order indicated a muddled think-tank, but Rayudu and Krunal made the most of their opportunities.Moises Henriques and the left-arm spinner Bipul Sharma varied their pace cleverly in the middle overs. But Bipul, who had gone for only 14 off his first three overs, was struck three successive sixes by Krunal in the 14th over. Rayudu stepped out and hit one himself, and Bipul finished with figures of 0 for 40.
 Hong Kong all-rounder Irfan Ahmed has been banned for 2-1/2 years for failing to disclose approaches made to him to engage in corruption, the International Cricket Council (ICC) said on Wednesday.</strongThe 26-year-old Pakistan-born cricketer was provisionally suspended in November with the ICC�s anti-corruption unit (ACU) investigating his role in relation to the activities of another suspected offender."Whilst Mr Ahmed was not charged with any offence involving corruption, the ACU established that he had failed to disclose to it full details of approaches or invitations to engage in corrupt conduct that had been made to him between January 2012 and January 2014," the ICC said in a statement.Ahmed, who had played in six one-day internationals and eight Twenty20 matches for Hong Kong, accepted the sanction and waived his right to appeal, the ICC added.ACU chairman Ronnie Flanagan said corrupt individuals had increased the targeting of players from ICC Associate Member nations, where cricket is firmly established and organised, and the game�s stakeholders needed to stave them off."This penalty (imposed on Ahmed) should act as a reminder to all participants of the need to comply with their obligations under the (anti-corruption) code at all times and, in particular, the requirement to report corrupt approaches to the ACU without any delay," Flanagan said."It is pleasing to note that the investigation upon which these charges were founded originated from information that had been disclosed to the ACU."This is a clear and welcome demonstration that participants now more and more fully realise their own responsibilities in combating this scourge on the game through prompt and diligent reporting as required by the Code."Ahmed�s ban is backdated to when he was provisionally suspended and will expire on May 4, 2018.
 Pakistan will tour Australia in the end of the current year to play three Test matches and five One-day Internationals, according to schedule announced by Cricket Australia here on Wednesday.The tour will begin with the first Test from December 15, 2016 at Brisbane and end with the fifth ODI at Adelaide on January 26, 2017.Australia will also host a three-Test series against South Africa in November, and �a three-ODI series against New Zealand in December before Pakistan�s tour.Later, they will also play a series of three Twenty20 Internationals against Sri Lanka in February 2017.Following is their programme of international matches for the 2016-17 season:Nov.3-7 v South Africa, 1st Test, PerthNov.12-16 v South Africa, 2nd Test, HobartNov.24-28 v South Africa, 3rd Test, Adelaide*Dec.4 v New Zealand, 1st ODI, SydneyDec.6 v New Zealand, 2nd ODI, CanberraDec.9 v New Zealand, 3rd ODI, MelbourneDec.15-19 v Pakistan, 1st test, Brisbane#Dec.26-30 v Pakistan, 2nd test, MelbourneJan.3-7 v Pakistan, 3rd test, SydneyJan.13 v Pakistan, 1st ODI, BrisbaneJan.15 v Pakistan, 2nd ODI, MelbourneJan.19 v Pakistan, 3rd ODI, PerthJan.22 v Pakistan, 4th ODI, SydneyJan.26 v Pakistan, 5th ODI, AdelaideFeb.17 v Sri Lanka, 1st T20, TBCFeb.19 v Sri Lanka, 2nd T20, TBCFeb.22 v Sri Lanka, 3rd T20, TBC* possible day-night Test# day night Test
 Kolkata Knight Riders thrashed Kings XI Punjab by six wickets here on Sunday to go on top of the table in the Indian Premier League 2016.Knight Riders' bowling depth was perceptible as their spinners ripped through Kings XI, in a sub-par batting performance, to keep them to 138 for 8.In the chase, Robin Uthappa's quickfire fifty effectively sealed the game. In 13 games this season, 12 have been won by the chasing team.Put in to bat, Kings XI lost Manan Vohra early when he flicked Morne Morkel to deep square leg but M Vijay looked in rhythm, scything drives and cuts before failing to pick a googly from Piyush Chawla.The stage was set for either of David Miller or Glenn Maxwell to fire their side back into the contest, but Knight Riders' experienced bowling attack strangled their strong middle order.With two left-handers batting - Marsh and Miller - Gautam Gambhir turned to Yusuf Pathan for the first time this season. The move reaped rewards instantly when Miller edged Yusuf's first ball and Uthappa took a sharp catch.Maxwell soon resorted to a switch-hit off Sunil Narine, but Kings XI's season was summed up when he hammered it to extra cover. Narine's remodeled action returned two wickets in a frugal spell with an economy rate of 5.50.In a format where teams target implausible numbers during the second half of an innings, Knight Riders' spinners ensured Kings XI could only rebuild after leaving them at 94 for 5 in the 15th over.In between, Marsh used swift footwork to accumulate runs and was particularly effective square of the wicket, on both sides. He got to his fifty in the last over with a sweetly-timed lofted drive over long-on. Along with Kyle Abbott, he took Andre Russell's first over - the last of the innings - for 18 to lift Kings XI to 138.Kings XI needed a miraculous start but Uthappa and Gambhir pushed Knight Riders closer to the target with nine boundaries in a 65-run Powerplay, the most productive in this season.The seamers, Sandeep Sharma and Abbott, were inconsistent but when they found their lengths, Uthappa cleared the infield with lofted strokes on the up, on a pitch offering even bounce and carry.Uthappa eased himself to his first fifty of the season off just 24 balls but his premeditated sweep resulted in his dismissal, as he played around a full delivery from Pardeep Sahu. Gambhir looked set for another fifty before a leading edge was acrobatically taken by Glenn Maxwell, running in from deep midwicket.Axar Patel removed Manish Pandey and Shakib Al Hasan, but Suryakumar Yadav and Yusuf took Knight Riders home with 17 balls to spare.
 The official countdown to this year�s Rio de Janeiro Olympics began on Thursday when the torch was lit at the site of the ancient Games, with organisers hoping it will shift attention away from Brazil�s political and financial turmoil.On a glorious spring day with the sun burning hot above the ancient stadium in Olympia, an actress playing a high priestess lit the torch from the rays of the sun at the temple of Hera, using a parabolic mirror.Greek gymnastics world champion Lefteris Petrounias started the domestic relay after receiving the flame.Brazilian double Olympic volleyball champion Giovane Gavio was due to be the second runner.A refugee will also carry the torch during the Greek leg of the relay before Brazilian organisers receive it in a handover at the Panathenian stadium on April 27 in Athens, site of the first modern Olympics in 1896.Brazil will start its relay on May 3 in the capital Brasilia with the first of 12,000 runners, carrying it through 300 cities and towns in the 26 Brazilian states and ending in Rio on the day of the opening ceremony.Preparations for the first Games in South America, which run from Aug.<br/> 5-21, have been plagued by problems and a shortage of cash for organisers as the country is experiencing its worst recession in decades."(The torch lighting) brings a message that can and will unite our dear Brazil," Rio Games chief Carlos Nuzman said in his speech.Brazil President Dilma Rousseff, who cancelled her trip to ancient Olympia, is facing impeachment and federal prosecutors are investigating Olympic projects for corruption."Despite the difficulties that Brazil is facing today, the flame is a timeless reminder that we are all part of the same humanity," International Olympic Committee (IOC) President Thomas Bach said."Rio de Janeiro will provide a spectacular to showcase the best of the human spirit.<br/> In just a few weeks the Brazilian people will enthusiastically welcome the world and amaze us with their joy of life and their passion for sport," Bach said.
 Pakistan Cricket Board (PCB) Chairman Shaharyar Khan will go for the termination of the �Big Three� System in the International Cricket Council (ICC) meetings scheduled to be held in Dubai from Monday (April 25).</strongThe ICC Board will gather in Dubai for the second round of meetings of 2016. In the lead up to these meetings, various other committee meetings, including the ICC Chief Executives� Committee meeting, will take place.The schedule of the meetings include ICC Women�s Committee (Thursday), ICC Chief Executives� Committee (Friday and Saturday), Audit, Finance &amp; Commercial Affairs and Development Committee (Saturday), Governance and Executive Committee (Sunday) and ICC, IDI and IBC Board meetings (Monday).
 Rohit Sharma�s 44-ball 62 helped Mumbai Indians to overhaul Royal Challengers Bangalore' 170 for seven with 12 balls to spare here at the Wankhede Stadium on Wednesday.His batting was fluid as he took charge of the chase along with Ambati Raid, who was anything but elegant yet equally effective during his 31.The second-wicket stand of 76 in 55 balls laid the platform for Mumbai's chase, before Iqbal Abdulla gave Royal Challengers a new lease of life by dismissing Rayudu and Rohit in quick succession, both to slogs.Mumbai were 109 for three then, needing 62 off seven overs - well on track as dew took effect. Jos Buttler and Kieron Pollard, returning from food poisoning, flexed their muscles by hitting five sixes between them, and Mumbai recorded their second win in five matches.Mumbai, who opted to bowl, were staring at a 200-plus target as Virat Kohli and AB de Villiers feasted on some friendly bowling during the course of a 59-run stand, before the unheralded players, in what was billed as a battle of two heavyweight teams, rose to the occasion.Krunal Pandya�s twin strikes to get rid of Kohli and de Villiers in the space of five deliveries stunned Royal Challengers. Shane Watson fell not long after, but then Travis Head, on IPL debut, and Sarfaraz Khan lifted Royal Challengers from 99 for 4 to 170 for 7.KL Rahul was put through a short-ball test in a hostile burst by Mitchell McClenaghan, during which he was hit hard on the helmet. After the early jitters, though, he ramped and slapped his way to 23 before being caught in the slips. Kohli and de Villiers then counterpunched before the cluster of wickets resulted in a complete breakdown in momentum.Head took his time to settle in before exhibiting his ball-striking power to swat Hardik Pandya for six over deep square leg in the 15th over. Sarfaraz showed there is more to his game than just scoops and paddles as he milked the spinners before clubbing Jasprit Bumrah for two successive sixes in the final over.Mumbai lost Parthiv Patel in the second over of the chase, but Varun Aaron's third over, which went for 19, brought their innings back on track. Once Royal Challengers' uncapped Indian bowlers were summoned, a game that was only marginally tilted in Mumbai's favour turned decisively in their direction. Abdulla's wickets injected a touch of excitement, but any possibility of a close finish was firmly snuffed out by Pollard's charge.
 Batting coach Grant Flower has claimed that Pakistani batsmen are not as hard working as far as fitness is concerned saying our players are very inconsistent with the way they practice.Flower said Pakistani batsmen remain in the elusion that whatever they have been doing in order to keep themselves fit is enough for them to excel in the international circuit.At the international level most of the guys� techniques are sound. With Pakistan, it is more trying to get the routine right but it is also about the preparation off the field regarding fitness, Flower told ESPNCricinfo.�You not only need that in fielding and bowling but equally in batting.<br/> If you are physically fit it will definitely lead to a good life style and better judgement at the crease he said.Flower said, �our players are very inconsistent with the way they practice. They do work on their weak areas but they could do a lot more. When you are an international player you should be waking up and asking yourself what I have to do more to improve myself. If you are not answering that question then I don�t think you should be there�, he said.Flower said that the upcoming camp for the national team ahead of their tour of England will also have a session with a psychologist.He said he hopes that the upcoming camp will also cover the psychologist session and the players take that in a positive manner.Flower said it requires a lot of sacrifice to play for the country.�A good student of the game learns everyday life style gym work and all those things required to be a better cricketer�, he said.He claimed that it is not like 20 minutes in the gym and 20 minutes in the nets.<br/> �It is about quality time absorbing everything rather than just being seen doing the right stuff and walking away saying that I have done enough. A lot of guys kid themselves.�They think they are doing enough to be playing for Pakistan and getting great results. I know a lot of time they are not doing enough. Sometimes I wish they could see how world�class players prepare and what it takes.�They watch a lot of cricket but I don�t know if they really digest what they see to get to the top,� he said. 
 Paul Hawkins, the inventor of the ball�tracking �Hawk�Eye ball tracking system� has now come up with a bat sensor to pick up nicks perfectly.<br/> The sensor is the size of a small coin and uses an accompanying smart phone app to detect the nicks.The on-field umpires will have to attach the smart phones to their jackets to film each ball so that instant replays and ball trajectories can be replayed and monitored, a prominent sports website www.sportskeeda.com reported.The tiny sensor which costs 25 (AUD46) can easily be fixed to the bat for the phone to film and monitor the ball.Hawkins, who was a former county player and a missile guidance expert, has confirmed that the technology is almost ready to be used and might be introduced into amateur cricket in England soon.Hawkins had been watching a Hampshire cricket league match last year and had been left very disappointed to see a batsman �stand his ground after being out caught behind as the umpire failed to detect the edge.That incident has led Hawkins to come up with his ingenious technological innovation to change cricket.Batsmen have always not walked but what really got me was that after the inevitable bout of sledging from the fielders �the batsman said I know I nicked it and you know I did but so what it wasn�t given Hawkins was quoted as saying. �More and more batsmen try and get away with it. We got him out soon afterwards but it ruined my day.�Hawkins technology works much like the real�time Snicko meter with the bat sensor picking up vibrations in the bat and making the results readily available on the smart phones to be worn by the on-field umpires.�We experimented in the nets and found that even the finest edge a feather that the bowler didn�t hear is detected,� Hawkins said.�
 Once a limited-overs giant, Yuvraj Singh has been in and out of the Indian team in recent years but the all-rounder believes he still has enough cricket in him to look forward to the 2019 World Cup in England and Wales.</strongThe 34-year-old left-handed batsman has seen it all in an international career that started as an 18-year-old in the 50-over ICC KnockOut Trophy in 2000. He was crucial for India during their 2007 World Twenty20 victory in South Africa and was also player-of-the-tournament in the team�s 50-over World Cup win on home soil in 2011.But later in 2011 he was told he had a golf ball-sized non-malignant tumour in his lungs.It was later re-diagnosed as a cancerous condition called "mediastinal seminoma".That started a phase of comebacks for the hard-hitting middle-order batsman, once considered a certainty in the international limited-overs formats."I think it�s the passion for the game," Yuvraj told Reuters when asked what kept him going."I don�t want to sit one day and think �Oh, I should have played a few more years�."I want to end where I feel this is it and this is how much I would have played.Given the opportunity, I still feel I have a few more years to excel."
strong>Andy Murray is prepared to switch from grasscourts to clay in a matter of days to play for champions Britain against Serbia in the Davis Cup, the world number two said on Friday.</strongThe 28-year-old, who almost single-handedly won the trophy for Britain last year for the first time since 1936, could face world number one Novak Djokovic in Belgrade a week after this year's Wimbledon finals.Serbia have not surprisingly chosen clay as the surface, knowing that Murray would find the transition from the slick Wimbledon lawns to clay difficult.Murray, however, plans to play even if his schedule is further complicated this year by the Rio Olympics where he will be the defending champion."The plan is to play but it is going to be difficult," Murray, the 2013 Wimbledon champion, told BBC Sport."I need to play it a little bit by ear, as well, because I just don't know how the body is going to respond.""These next couple of months are going to be extremely difficult," he added.Murray has suffered from back problems and is wary of putting too much strain on his body, although he has been ferociously committed to the Davis Cup.He has played in every tie since 2013, winning 21 of his 22 rubbers in that period."Changing surfaces -- almost on a weekly basis -- does increase the chance of injury significantly."Not many players would go from playing a grass court tournament one week straight onto the clay the following week with only a couple of days preparation time," he said.
 The Pakistan Table Tennis Federation will hold Table Tennis Master Cup in Peshawar in the next month.According to sports sources, a schedule of matches would be announced soon while matches will be played on league system.The table tennis players including 32 men and 16 women, who had performed well during the 52nd National Table Tennis championship in Multan, would participate in the cup, the sources added.
 Jemima Sumgong, of Kenya, won the women�s London Marathon on Sunday after picking herself off the ground following a heavy fall near the end of the race.The 31-year-old Sumgong held her head in pain after the fall but recovered to defeat last year�s winner, Ethiopian Tigist Tufa, in a duel over the final mile, clocking an unofficial 2 hours 22 minutes 58 seconds.
 Rafael Nadal, bidding for a record 49th claycourt crown, reached the final of the Barcelona Open for the ninth time by beating German Philipp Kohlschreiber 6-3 6-3 on Saturday.</strongThe world number five from Spain next meets defending champion Kei Nishikori after the Japanese ousted Frenchman Benoit Paire 6-3 6-2.Nadal will equal former Argentine great Guillermo Vilas� record of 49 titles on clay if he wins on Sunday."Today I played my worst game of the tournament. I don�t like the way I played because I committed too many errors," said the former world number one."I messed up my backhands but it was also important I only conceded one break point in the whole game, that�s the most positive thing. "Nadal won the Monte Carlo Masters crown last week and said the accumulation of games affected his performance against Kohlschreiber."I�ve been competing for two weeks in a row and it�s normal for me to have a bad day. I hope that tomorrow I can do better," he added. "This means I�m doing well and that every day I have found solutions to keep winning."Nadal has won the Barcelona Open eight times since 2005, last lifting the trophy in 2013.Nishikori has triumphed in the last two editions and the Spaniard said the world number six would put him to the test on Sunday."He�s having a good year," said Nadal. "He�s a fast player and will be very difficult to beat, he gives you no time to react and is one of the best in the world.
� Australian Open champion Angelique Kerber picked up her second title of 2016 with a 6-4, 6-0 victory over qualifier Laura Siegemund for back�to�back wins in Stuttgart on Sunday.�It�s amazing to be able to defend my title here beamed Kerber after her repeat success in the WTA claycourt tournament. I had goose bumps it�s simply been a perfect week.�In an all�German final, Kerber claimed her first win since her Melbourne triumph in January with an impressive display against Siegemund.The qualifier had beaten seeds Simona Halep, Roberta Vinci and Agnieszka Radwanska, all ranked in the world�s top ten.I have never felt so much emotion out on the tennis court as I have in the last few days, said Siegemund, a trained psychologist who is working towards her doctorate.It happened exactly as I feared it would God pulled the plug on me she added after the final took just 81 minutes.I haven t had a day off here and no time to enjoy my results so I ll definitely do that now.Having not dropped a set en route, this was Siegemund�s debut in a WTA final and Kerber�s first since the Australian Open.Kerber beat her Germany Fed Cup team�mate Annika Beck in the second�round then Spain�s Carla Suarez�Navarro in the quarters and Petra Kvitova in the semi�final.But the world number three got off to a false start when she found herself 3-0 down in the tight first set before fighting her way back.She then raced into a 2-0 lead in the second as Siegemund had to briefly receive treatment.Kerber then dominated the 28-year-old Siegemund, who will shoot up the world rankings from 71 to 42 on the back of her performances in Stuttgart and kept finding her shots on the baseline to quickly race to a 4-0 lead.Having broken Siegemund to go 5-0 up, Kerber used her first championship ball to seal the win which again includes the prize of a luxury sports car.Having suffered a drop in form after her Melbourne triumph, Kerber says she has had to learn to deal with the hype of being a Grand Slam winner.I have learnt in the last few weeks to use every single minute to store up with energy and strength said Kerber as she got her clay�court season off to a winning start. 
 Former Pakistan captain Younis Khan had sought apology from Chairman Pakistan Cricket Board (PCB) Shaharyar M Khan on the incident of his misconduct during the Pakistan Cricket Cup which is in progress at Faisalabad.Younis made a telephonic contact with the Chairman PCB on Monday and during the call felt sorry for the incident happened during the event, said a spokesman of PCB here.He appraised the Chairman about his willingness to participate in the remainder of the tournament.He said being an advisor of Chairman PCB on cricketing affairs it was an obligatory on his part to participate in the premier ODI Domestic tournament for the larger interest of the promotion of the game in the country said the spokesman .Younis faced disciplinary action from the board after he kept away from a hearing following his involvement in an umpiring row. Younis called umpiring in the match as below par and initially boycotted the tournament in protest.
 South Africa on Monday banned its national cricket and rugby federations from hosting or bidding for international tournaments for at least a year due to their failure to increase representation of black players.Sports minister Fikile Mbalula said the athletics and netball federations were also barred from bidding to stage global events after a report showed that four out of the five biggest sports have failed to create enough opportunities for black players.The minister�s decision was a major blow to the South African Rugby Union�s intention to bid for the 2023 Rugby World Cup. The bidding process starts next month.South Africa�s government has been pushing for more black players to be included in the nation�s most popular sports but more than two decades after the end of apartheid whites still make up the bulk of players in athletics, cricket, netball and rugby."I have therefore resolved to revoke the privilege of Athletics South Africa (ASA), Cricket South Africa (CSA), Netball South Africa (NSA) and South African Rugby (SARU) to host and bid for major and mega international tournaments," Mbalula said in a statement.The soccer federation was the only one of the five to meet its transformation targets, he said.Mbalula said he would review the decision when considering the results on the 2016-17 �Transformation Barometer�, which could be at the end of next year. 
 Pakistan�s opening batsman Ahmed Shehzad on Monday found himself in the midst of yet another controversy after media reports revealed that the 24-year-old has broken dressing room�s window with his bat during a domestic one-day match.</strongAccording to sources, Shehzad, after failing to complete his century against Balochistan during a Pakistan Cup match on April 24, smashed the dressing room�s window to vent his anger.He was unhappy on being given out on 79 and broke into an argument with the on-field umpire, saying Bilawal Bhatti may not have claimed a clean catch.Shehzad will pay for the broken glass from his match fees, sources said.� However, the Pakistan Cricket Board (PCB) is yet to take note of the incident.A day before this incident, former captain Younis Khan was found guilty for walking out of the Pakistan Cup national One-Day tournament after a dispute with the match referee and umpires. Khan is likely to face a ban of three to five matches and my miss the upcoming series against England.�
 "I don�t enjoy the business side of football. I love the game. I love training and competing.�
strong>Rafael Nadal maintained his ominous claycourt form by seizing back the Barcelona Open title from Japan's Kei Nishikori with a 6-4 7-5 victory on Sunday, matching Guillermo Vilas's record title haul on the surface.</strongA week after reclaiming the Monte Carlo crown, the 29-year-old Spaniard returned to another of his favourite hunting grounds to end Nishikori's two-year hold on the trophy and take his tally in the Catalan capital to nine."I have been working so hard to enjoy moments like this," Nadal said. "The fact that I'm playing at home is always even more special. I'm very happy and I feel lucky to enjoy this again."Playing with the kind of authority that once made him almost unplayable on European clay, Nadal looked poised for a comfortable victory when he led 4-1 in the second set but Nishikori broke back to make Nadal dig deep.The Spaniard would not be denied, though, sealing victory after two hours when Nishikori slapped a forehand into the net."It was a very close match," Nadal said. "There were a lot of chances for both of us but I think I have been solid."Nadal, who will target a 10th French Open title next month, had not won back-to-back titles since 2013.He and former Argentine great Vilas have both won 49 claycourt titles and Nadal will be confident of edging ahead when he moves on to Madrid and Rome before Roland Garros.
 Leicester City forward Riyad Mahrez was named English soccer�s player of the year by the Professional Footballers� Association on Sunday.</strongThe 25-year-old Algerian international, the first Leicester player and first African to win the award, has scored 17 goals and made 11 assists in 34 league games to help Leicester move to the brink of their first English top-flight title.Mahrez finished ahead of fellow Leicester players Jamie Vardy and N�Golo Kante, Tottenham Hotspur striker Harry Kane, Arsenal�s Mesut Ozil and West Ham United�s Dimitri Payet.The Algerian praised the contribution of his team mates and manager Claudio Ranieri after being voted the best player in England by his fellow professionals."All the credit is for them, seriously," Mahrez, who joined Leicester from French second-tier side Le Havre in January 2014, said."And for my manager and the staff. Without them I wouldn�t receive this award and I wouldn�t score.It�s the team spirit, and I want to dedicate it to them. "It�s extra special because if the players vote for me it�s because they�ve seen I�ve been great this year so I�m happy."Without my team mates I wouldn�t get this award. "Mahrez also spoke of his pride at being the first African player to receive the award won last year by Chelsea playmaker Eden Hazard."It�s an honour to be the first African -- not the best but the first," Mahrez added. Spurs midfielder Dele Alli, 20, was named PFA Young Player of the Year, with his team still chasing the leaders in a bid to win their first league title since 1961.
 Cricket Scotland has taken the top prize in the annual ICC Development Programme Awards 2015, claiming the Best Overall Cricket Development Programme Award.Cricket Scotland�s Development Programme continues to go from strength to strength, growing cricket across the country with a number of innovate new programmes introduced in 2015.These programmes includes Thriving Clubs which provides hands on professional support from experts to cricket clubs, the expansion of Last Man Stands across Scottish cities and the first Cricket Force scheme, which was launched in conjunction with Jewson to help improve facilities in local communities.The Lifetime Service Award was won by Jim Bennett for his dedication to the administration of youth cricket in Ireland. Mr Bennett sits on the Executive Committee for Cricket Leinster, the group tasked with the running and administration of the club game in the province of Leinster. Mr Bennett is also heavily involved in his club side the Hills as role of Club President - a position he has held with distinction for the last 15 years.Competition for the Spirit of Cricket Award was high with Vanuatu and Malaysia being named as the joint winners. Vanuatu was recognised for its Women�s Island Cricket Programme which assisted with clean-up efforts at the back of the destruction caused by Cyclone Pam in March 2015.Malaysia was named co-winners, thanks to its Bat for Nepal fundraising match which generated thousands of dollars for Nepal following the earthquake in April 2015.Rwanda Cricket Association has picked up the Image of the Year award for its photo capturing cricket development at a coaching clinic in Rwanda.<br/> <br/> Other winners were Ivan Thawithemwira of the Uganda Cricket Association, who won the Volunteer of the Year award, thanks to his contribution to cricket development in the Western Uganda district of Fort Portal, and Gemma Dunning from the Jersey Cricket Board, who won the Women�s Cricket �Behind the Scenes� award for her work to inspire more girls to take part in sport through the vehicle of cricket called Crick-Fit @ The Beach.The judging panel for these awards featured ICC Chairman Manohar and President Zaheer Abbas.All ICC Development Programme Annual Awards 2015 winners receive a cricket equipment grant to its national cricket body.�
 Afghanistan�s Mohammed Shahzad won hearts around the world in World Twenty20 last month in India, and following three weeks of fan voting he has been crowned as the winner of the Nissan Play of the Tournament for ICC World Twenty20 India 2016.The power packed opener is known for showing no fear when he opens the batting for Afghanistan, as several teams found out during the Group Stages and Super 10 stage.<br/> <br/> Shahzad�s innings of 44 off 19 balls in reply to South Africa�s daunting total of 210 had the Proteas on the ropes at one point during the chase. Kyle Abbott�s first over alone went for 22 runs. The third ball of the second over of the game, was sent soaring over long-on from Shahzad. And as if to allow those watching to take in the enormity of that six, he held the pose like a champion for a few seconds and never once raised his head.Commentators Brendon Julian and Tom Moody were momentarily left speechless at the shot as Shahzad�s innings lit up the Wankhede Stadium in Mumbai.The Nissan Play of the Tournament vote was made up of 16 different brilliant Nissan Plays of the Day, with fans then being given the chance to pick their winner in a bracket knock-out vote.Fans from nearly 200 countries got involved with the post tournament digital activation. There were over 3 million video views of the various plays and a staggering 1.5 million votes.The final vote came down to Mohammad Shahzad�s Six against Soumya Sarkar�s stunning catch against India. This final match-up attracted over 500,000 votes alone as Afghanistan and Bangladesh fans voted in huge numbers to crown their champion. The voting swayed over the course of the week but Mohammad Shahzad just prevailed with 53% of the vote.The response to the Nissan Play of the Tournament continued the trend of increased engagement with cricket fans and viewers across the world during this ICC World T20 2016, won by the West Indies men�s and women�s teams.Across the official event website and App, ICC�s YouTube channel, ICC�s Facebook page, ICC�s Twitter and Instagram account and the regional and global live stories posted on Snapchat, there were more than 320 million video views - the highest mark ever for an ICC event.During the event, 46 million people across the world engaged on Facebook, the most ever for any Twenty20 event in history, while the 85 press conferences streamed live on the ICC�s Facebook page had more than 10 million views. On Twitter, there were 5.75 billion impressions of Tweets related to the ICC World Twenty20, an all-time record for any cricket event.
 The cricket boards of all major Test-playing nations have thrown their support behind day-night matches and nearly half intend to host a game under lights in the next 12 months, according to Cricket Australia boss James Sutherland.Australia hosted the first day-night Test against New Zealand in Adelaide last year and will play Pakistan in another match under lights in Brisbane in December.South Africa�s players have balked at an invitation to play Australia in a day-night match in November, however, citing concerns about the specially developed pink ball and their relative inexperience playing it.Sutherland, who met with South African officials during an International Cricket Council meeting in Dubai on Sunday, said no final decision on the Adelaide Test could be expected until Proteas players returned home from the Indian Premier League tournament. But he said day-night Tests in general had unanimous support from the top nations� boards."What I heard from (ICC) full member country CEO�s in meeting was a very broad-ranging commitment to day-night Test cricket and indeed three or four full member countries are planning on hosting Test cricket under lights in the course of the next 12 months, which is very encouraging," Sutherland told reporters at CA�s Melbourne headquarters on Tuesday."Certainly India, Pakistan are very keen to play day-night Test cricket, I know New Zealand are also keen. "To a person, full member countries and their CEOs stated their absolute support of Test cricket being played under lights."The first day-night Test drew huge crowds to Adelaide Oval and big television audiences, helping to offset disappointing attendances to the season-opening Tests against New Zealand in Brisbane and Perth.CA and players on both sides hailed the match a success in the aftermath but South Africa captain AB de Villiers told local media last week that his team had been discouraged from committing to the day-night Test in Adelaide after getting feedback from Australian players, including captain Steve Smith.Test crowds have waned across the globe even as domestic Twenty20 tournaments have soared in popularity and threatened to undermine the quality of international cricket by luring top players away from their national teams.Australia�s domestic Big Bash T20 competition drew more than a million people into stadiums around the country during the last home summer, outstripping the attendance for last year�s 50-over World Cup.Cricket Australia have lowered ticket prices for Test matches against Pakistan and South Africa for series during the coming home summer in a bid to bring fans back to the red-ball game.Last year�s Big Bash tournament clashed with part of Australia�s home series against West Indies, but Sutherland dismissed the idea of creating separate windows for domestic and international competitions."It�s for others to state their position, but my view is that international cricket comes first," he said. "International cricket must be protected and it should be the form of the game that is the priority for players.
 The cricket boards of all major test-playing nations have thrown their support behind day-night matches and nearly half intend to host a game under lights in the next 12 months, according to Cricket Australia boss James Sutherland.</strongAustralia hosted the first day-night test against New Zealand in Adelaide last year and will play Pakistan in another match under lights in Brisbane in December.South Africa�s players have balked at an invitation to play Australia in a day-night match in November, however, citing concerns about the specially developed pink ball and their relative inexperience playing it.Sutherland, who met with South African officials during an International Cricket Council meeting in Dubai on Sunday, said no final decision on the Adelaide test could be expected until Proteas players returned home from the Indian Premier League tournament.But he said day-night tests in general had unanimous support from the top nations� boards."What I heard from (ICC) full member country CEO�s in meeting was a very broad-ranging commitment to day-night test cricket and indeed three or four full member countries are planning on hosting test cricket under lights in the course of the next 12 months, which is very encouraging," Sutherland told reporters at CA�s Melbourne headquarters on Tuesday."Certainly India, Pakistan are very keen to play day-night test cricket, I know New Zealand are also keen."To a person, full member countries and their CEOs stated their absolute support of test cricket being played under lights."The first day-night test drew huge crowds to Adelaide Oval and big television audiences, helping to offset disappointing attendances to the season-opening tests against New Zealand in Brisbane and Perth.CA and players on both sides hailed the match a success in the aftermath but South Africa captain AB de Villiers told local media last week that his team had been discouraged from committing to the day-night test in Adelaide after getting feedback from Australian players, including captain Steve Smith.Test crowds have waned across the globe even as domestic Twenty20 tournaments have soared in popularity and threatened to undermine the quality of international cricket by luring top players away from their national teams.Australia�s domestic Big Bash T20 competition drew more than a million people into stadiums around the country during the last home summer, outstripping the attendance for last year�s 50-over World Cup.Cricket Australia have lowered ticket prices for test matches against Pakistan and South Africa for series during the coming home summer in a bid to bring fans back to the red-ball game.Last year�s Big Bash tournament clashed with part of Australia�s home series against West Indies, but Sutherland dismissed the idea of creating separate windows for domestic and international competitions."It�s for others to state their position, but my view is that international cricket comes first," he said."International cricket must be protected and it should be the form of the game that is the priority for players."
 The International Cricket Council has criticised West Indies for using their victory speech at the World Twenty20 tournament to complain about their cricket board after a long drawn-out pay dispute.</strongDuring the televised broadcast, West Indies captain Darren Sammy referred to the dispute which saw the team threaten to withdraw from the tournament in India before a last-minute deal was brokered with the board.All-rounder Dwayne Bravo later criticised the West Indies Cricket Board in an interview with a local broadcaster."The (ICC) Board considered the behaviour of some of the West Indies players in the immediate aftermath of the final, and unanimously agreed that certain comments and actions were inappropriate, disrespectful and brought the event into disrepute," the ICC said."The Board acknowledged an apology by the WICB but was disappointed to note that such behaviour had detracted from the success of what was otherwise a magnificent tournament and final."The ICC added that "serious consideration" had been given to bringing code of conduct charges against the players.After West Indies� four-wicket win over England in Kolkata, skipper Sammy said in an interview: "People were wondering whether we would play this tournament."We had a lot of issues, we felt disrespected by our board ..I�m yet to hear from (them). That is very disappointing.
 Finance Minister Senator Muhammad Ishaq Dar Tuesday said that the government would establish a sports university and all resources would be provided in this regard.Addressing the closing ceremony of the Quaid-i-Azam Inter-Provincial Youth Games - 2016 at Pakistan Sports Complex, the minister said that the present government within two years has put the country to economic stability.Now the world economists are appreciating the economic performance of Pakistan and many investors want to start business here, he said.He appreciated the role of Federal Minister for Inter�provincial Coordination (IPC) and In-charge Minister for Sports Mian Riaz Hussain Pirzada for successfully holding sports activity in the federal capital.
�The Pakistan Cricket Board (PCB) on Wednesday allowed Younis Khan to resume playing in Pakistan Cup, a domestic tournament.Reports said that PCB has accepted Younis Khan�s apology and given permission to him for rejoining Khyber Pakhtunkhwa in Pakistan Cup.Earlier, Younis Khan called the PCB chairman Shaharyar Khan in response to the show-cause notice given to him. He admitted his misbehaviour during a match in Pakistan Cup at Faisalabad on Monday and apologized.�Younis Khan made telephonic contact with chairman PCB Shaharyar Khan today,� the PCB said in a statement. �He felt sorry for the incident that happened during the Pakistan Cup in Faisalabad.�He left the host city, last week, in protest against �substandard umpiring� in the event.�Later, the PCB had issued the show cause notice to Younis Khan instead.PCB chairman Shahryar Khan has accepted that Younus Khan�has had great� services for Pakistan Cricket, but no one is above the rule and game.
 Injured Sri Lankan pacer Lasith Malinga is believed to have acted against the medical advice given by another Sri Lankan doctor Siri Kannangara.</strong�I had examined Malinga in January during my two trips in Sri Lanka and had advised him to take �minimum� six-months rest. This six-month period can still exceed. The period is still not over now and I wonder why he chose to play in the Asia Cup�. Dr. Kannangara told the Sri Lankan newspaper, daily Mirror over telephone from Austrailia.Malinga, had played one match against UAE (at Mirpur) in February-- the very next month after the advice was given to him by the specialist and may have aggregated the injury.Doctor Kannangara said had Malinga listened to his advice, he may have been on a better recovery path. �I had prescribed him a few Intra-Vein injections (not cortisone). I don�t know whether Malinga did take these injections or consulted any other doctor and decided to play�.���That was his decision and I can�t comment on this�, he added. Dr. Kannangara is likely to arrive in Sri Lanka next month before going to London. �I will not advise Malinga unless and until my advice is sought�, by him doctor clarified.Dr. Kannangara has treated a few international cricketers including India�s Sachin Tendulkar. �Sri Lankan pacer Chaminda Vaas had advised Tendulkar to consult me and I treated him for his back pain�. Viv and Barry Richards, Clive Lloyd and many other ex-players have been successfully treated by Dr. Siri Kannangara.��Meanwhile, the report on Lasith Malinga�s fitness has been submitted to the Sri Lanka Cricket (SLC) board by three specialists.
 Veteran players of Pakistan and India are all set to be in action as the United Kingdom based Slough hockey club have organized three matches against both the arch rivals in May.</strongTalking to APP Pakistan Hockey Federation (PHF) Secretary Shahbaz Ahmed said Slough hockey club Chairman Harjit Sandhu is organizing the matches among the Pak India veterans players.They have laid a new astro turf in their club and these matches are part of the inauguration, he said.Three matches will be played on May 13, 14 and 15. This is a very good initiative taken by the Slough hockey club, he said adding there would be hardly anybody in this world who doesn�t want to see both the nations play.The Pakistan players include Muhammad Atiq, Muhammad Rizwan, Muhammad Khalid, Adnan Zakir, Akthar Ali, Muhammad Imran, Sharif Muhammad, Hussain Muhammad, Muhammad Saqlain, Rehan Butt, Salman Akbar and Muhammad Arshad.The prominent among the Indians participating in the matches are Deepak Thakur, Pargat Singh, Yuvraj Walmiki, Harpal Singh and Rajpal Inderjeet.
 Pakistan Cricket Board (PCB) is conducting dope tests of those cricketers who have been performing extraordinarily well in the Pakistan Cup, being played at Faisalabad.Talking to APP, a PCB official said the dope tests are being conducted on the directives of the International Cricket Council (ICC) to check against the possible use of illegal substances.He said besides six cricketers - Mohammad Irfan, Mohammad Sami, Khurram Manzoor, Sami Aslam, Bilawal Bhatti and Mohammad Hassan - dope tests of other cricketers are also being conducted.He said the tests of one to two cricketers are being conducted after every match.As many as five teams including Punjab, Sindh, Khyber Pakhtunkhwa (KPK), �Balochistan and Islamabad are participating in the Pakistan Cup, a 50-over tournament.
 Australia fast bowler John Hastings has been withdrawn from a one-day tri-series against West Indies and South Africa in the Caribbean after undergoing surgery on his ankle.</strongThe 30-year-old suffered pain bowling in the Indian Premier League (IPL) and scans confirmed "early stage bone stress" in his fibula near the ankle, the team said on Wednesday."While laid off with this injury we have taken this opportunity to undertake arthroscopic surgery to remove bone spurs in his left ankle which has been causing him concern for some time and were possibility contributing to the cause of the bone stress," Cricket Australia sports science and sports medicine manager Alex Kountouris said in a media release.Selectors named Victorian pace man Scott Boland as a replacement for Hastings on the June tour.
strong>South Africa fast bowling great Allan Donald will join Australia as bowling coach for their tour of Sri Lanka this year, local media reported on Wednesday.</strongThe 49-year-old, who took 330 test wickets at an outstanding average of 22.25, could then stay on as part of Australia's coaching team for their home series against Pakistan and South Africa, News Ltd media said.Cricket Australia were not immediately available to provide comment.Craig McDermott, who helped guide Australia to victory in last year's World Cup and a 5-0 whitewash of England in the last Ashes series on home soil, stepped down as bowling coach after the World Twenty20 in India.Donald, nicknamed 'White Lightning' during a 72-test career from 1992-2002, stepped down as bowling coach of South Africa a year ago, after four years mentoring the Proteas' feared pace battery of Dale Steyn, Vernon Philander and Morne Morkel.After Australia's two-test tour of Sri Lanka in July and August, Donald was expected to remain in the post for a one-day series in South Africa, News said.Earlier this month, Cricket Australia announced the appointment of Western Australia bowling coach Adam Griffith for a one-day triangular series against South Africa and West Indies in June.Justin Langer is to guide the side in the Caribbean to give regular head coach Darren Lehmann a break before the Sri Lanka tour.
Rafa Nadal has asked the International Tennis Federation to publish the results of his drug tests following an accusation of doping by a former French cabinet minister.The 14-times grand slam champion said on Monday he was suing Roselyne Bachelot, a former health, sports and social affairs minister, after she alleged the Spaniard had failed a drugs test.The Spaniard wrote to the ITF asking his drug test results to be made public, British media have reported."It can�t be free any more in our tennis world to speak and to accuse without evidence," media reports quoted the 29-year-old as saying."Please make all my information public, please make public my biological passport and my complete history of anti-doping controls and tests.From now on I ask you to communicate when I am tested, and the results, as soon as they are ready from your labs."Nadal has never failed a drug test. The ITF declined Nadal�s request but said the player was free to publish them himself."Mr Nadal �has access to his anti-doping records through WADA�s ADAMS database and is free to make them available," the governing body said in a statement."The accuracy of any such release would be verified by the ITF. "Failed drug tests in elite tennis are rare but doping has been in the spotlight since former women�s world number one Maria Sharapova announced last month she had returned a positive test for banned substance meldonium.
 Manchester City survived a late grilling by Real Madrid thanks to goalkeeper Joe Hart as they held on for a 0-0 draw on Tuesday that keeps alive their hopes of reaching the Champions League final for the first time.</strongPlaying in their first European semi-final for 45 years, Premier League City produced a cagey first-leg display that offered little menace, although crucially they denied Real an away goal.Ten-times champions Real suffered a setback before kickoff when Cristiano Ronaldo, the leading scorer in this season�s competition with 16 goals, was ruled out with a thigh injury.His spark was badly missed in a turgid first half at City�s Etihad Stadium, but Real finally came alive after the break and the hosts needed two instinctive late saves from Hart to keep them in the hunt for the second leg at the Bernabeu next week."It�s too close to call at the moment," City captain Vincent Kompany said. "We couldn�t have wished for more.We have 90 minutes left and we�ll look forward to next week. "Neither side managed a shot on target in the opening 45 minutes, but Real gradually upped their tempo after the break with Gareth Bale increasingly influential.The Welshman curled one effort wide and had a penalty appeal turned down before substitute Jese looped a header against the crossbar with Hart at full stretch.Hart saved a Casemiro header with his left foot and then shortly after Pepe looked certain to break the deadlock from point-blank range but Hart blocked the shot with his chest.City striker Sergio Aguero had a quiet night and their creative department was not helped when David Silva limped off with a hamstring injury after 40 minutes.Manager Manuel Pellegrini said he was unlikely to be fit for the return.The hosts did produce a late flurry after Raheem Sterling joined the fray from the bench, while Kevin De Bruyne�s inswinging free kick forced Keylor Navas into action.
 New Zealand cricket has confirmed Kane Williamson as the Blackcaps captain in all three formats.The 25-year-old has been a member of New Zealand since 2010 and has already led the side in 36 short-form games, while earning widespread praise for his captaincy during the recent ICC World Twenty20 in India.He is the 34th captain to skipper the New Zealand team in any full international format, and is poised to become the country�s 29th Test captain - dating back to Tom Lowry in 1930.NZC CEO David White said Williamson was the right man to lead the team forward.<br/> <br/> �Kane has been a leader within the team for a long time now and already shown himself to be an extremely capable captain,� said White.�He�s respected by his peers and the wider cricket community for his professional approach both on and off the field, and has a superb cricket brain.�His drive to see the team succeed and his passion for the game are what you look for in a leader. He�s ready for the role and will only continue to grow."Williamson, who is currently in India playing in the IPL, said it was a challenge he was looking forward to, but one he knew he wouldn�t face without a great deal of support.<br/> <br/> �It�s certainly an honour. I�ve really enjoyed my time spent as captain and believe this team can achieve a lot,� said Williamson.�I�m lucky to have a number of experienced players around me for support and will certainly look to utilise this. We�re all striving for the same thing and that�s to represent New Zealand with pride and win cricket games."Williamson also singled out the work done by predecessor Brendon McCullum, and praising the environment inside the changing-room.�I�ve certainly learnt a lot from Brendon, as has everyone who has played with him.<br/> <br/> "The culture that he and Mike have cultivated has been a huge part of this team�s success in recent times. We not only have good players, but good people too and that certainly makes any captain�s job easier."The Blackcaps next tour will be of Africa in July-August, with the Blackcaps scheduled to play two tests in both Zimbabwe and South Africa.
 Former head coach Waqar Younis has singled out Shahid Afridi for the side�s run of Twenty20 defeats against England and New Zealand in the Asia Cup and World T20.</strongIn the report on his two year tenure as Pakistan coach Waqar blamed Afridi�s poor form captaincy and attitude for the nationa lteam�s recent poor run.Waqar in his report had said that green shirts lost to New Zealand in Asia Cup and T20 World Cup due to poor captaincy. Afridi was not performing with the bat, ball or captaincy but I was not listened too.Meeting was held after the NZ T20 series where the boys emphasized that they felt confused with what the captain was telling them to do, deccanchronicle.com quoted the report as saying.Afridi was so fixated on his own performance that he did notexecute any game plan or use the right players at the right time.His sudden decisions on changing the batting order or field placements did not help the team, Waqar wrote. He said Afridi appeared to be under so much pressure it really reflected poorly on the team.The whole team morale was down because they all felt the pressure from the captain.No matter how many times I talk to the players it is the captain who has to lead the boys on the field and execute plans, he said.Speaking about the Pakistan Cricket Board (PCB) and selection matters in the report, he said just before the World Cup 2015 in Australia and New Zealand he attended the selection meeting in Karachi along with then captain Misbah ul Haq.We had a long and fruitful meeting on several players. �As I arrived back in Lahore a completely different team was announced which I was not happy with also after dropping Younis Khan from one series, he was suddenly put back into the team because of media pressure�, Waqar said.On Umar Akmal, Waqar described him as an indiscipline player. �Akmal was asked by Haroon Rasheed (former chief selector) to come the next day for fitness test to join the team in Sri Lanka for ODIs�.Instead he chose to catch a flight to Caribbean for a lucrative league without informing anyone. Few months later when he was caught in the Hyderabad incident or misbehaving with his domestic team coach at all times he managed to retain his place in the team.Is this what criteria we are setting for selection of new players? Waqar wrote in his report.
 England fast bowler Chris Jordan has joined Indian Premier League (IPL) franchise Royal Challengers Bangalore as a replacement for injured Australia pace man Mitchell Starc, the Indian cricket board said.</strongStarc has been ruled out of the Twenty20 league with a foot problem, opening the door for Jordan, who impressed with his death bowling in the recent World Twenty20 in India, where an Eoin Morgan-led England lost to West Indies in the final.The 27-year-old Sussex bowler joins Morgan and national team mates Jos Buttler and Sam Billings in the eight-team event, in a sign of the England board�s softening stance towards a league which attracts the biggest names in international cricket.At Bangalore, Jordan will be part of a dressing room also including Indian batting mainstay Virat Kohli, talismanic South African AB de Villiers and swashbuckling West Indies opener Chris Gayle.Meanwhile, Mumbai Indians have signed up West Indies fast bowler Jerome Taylor to replace injured Sri Lankan pace man Lasith Malinga, who also missed the World Twenty20 with a recurring knee injury.
strong>New Zealand Cricket (NZC) confirmed on Thursday that top-order batsman Kane Williamson will take over the captaincy in all three formats of the game following the retirement of Brendon McCullum.</strongThe 25-year-old had been expected to succeed McCullum having already led the side in one-day internationals when the former captain was rested or injured, and at the recent World Twenty20 tournament in India.He will become New Zealand's 29th test captain when Mike Hesson's side tour Zimbabwe and South Africa in July-August."Kane has been a leader within the team for a long time now and already shown himself to be an extremely capable captain," NZC Chief Executive David White said in a statement."He's respected by his peers and the wider cricket community for his professional approach both on and off the field, and has a superb cricket brain."His drive to see the team succeed and his passion for the game are what you look for in a leader. He's ready for the role and will only continue to grow," added White.McCullum retired in February following the test series against Australia after four years in charge, during which time the team made their first World Cup final and became more competitive in the longest form of the game."It's certainly an honour," said Williamson. "I've really enjoyed my time spent as captain and believe this team can achieve a lot."I'm lucky to have a number of experienced players around me for support and will certainly look to utilise this."Williamson, who made his international debut in 2010, had filled in for McCullum as recently as limited overs series against Sri Lanka and Pakistan earlier this year before the former wicketkeeper resumed the job during Australia's tour of New Zealand in February."I've certainly learnt a lot from Brendon, as has everyone who has played with him," added Williamson, who was named in February as the 2015 New Zealand Sportsman of the Year."The culture that he and Mike have cultivated has been a huge part of this teams success in recent times. We not only have good players, but good people too and that certainly makes any captain's job easier."
 Formula One world champion Lewis Hamilton was top of the timesheets in Russian Grand Prix practice on Friday after Mercedes team mate Nico Rosberg set the early pace and Ferrari suffered reliability problems.Rosberg, chasing his seventh win in a row and fourth of the season, was quickest in the morning around the Olympic Park used for the 2014 Winter Games in the Black Sea resort.The championship leader dropped to third in the afternoon, however, with Hamilton setting a best time of one minute 37.583 seconds on supersoft tyres compared to Rosberg�s 1:38.450.Ferrari�s Sebastian Vettel stopped on track during the second session but was still second fastest."I think we�re looking strong here, but we need to keep working hard if we are to try and stay ahead of the Ferraris," said Hamilton. "They look like they might be another step closer this weekend."Hamilton is the only driver to have won in Russia since the race�s debut in 2014 and he needs to complete the hat-trick on Sunday to eat into his team mate�s hefty 36 point lead after just three of the 21 races.The Mercedes pair, who have won 35 of the last 41 races between them, were comfortably ahead of the rest in the morning but Vettel showed pace for Ferrari before he hit problems.The four-times world champion, whose team have suffered power unit problems in two races this season, stopped with an hour to go.Ferrari�s Kimi Raikkonen was fourth in both practices.
 West Indies� legendary former captain Vivian Richards has chided the International Cricket Council (ICC) for reprimanding the West Indies following their WorldT20 victory earlier this month.</strongRichards, who never lost a Test series during his tenure as West Indies captain, accused the ICC of holding its members to different standards, noting that financial powerhouses India had been given a free pass."There are rules in the one-day game under the auspices of the ICC, like for instance the system where you go back to the third umpire and things like that," he told the Observer newspaper here on Thursday."So, if you are the sole governing body of world cricket, then everyone should be coming under the same umbrella. The Indians do not play certain things the ICC may have in its rules.""They totally ignore that and they have been getting away with it for years."The ICC this week rebuked the behavior of the West Indies team following its win over England in the final of the T20 World Cup in Kolkata.In a statement following its meeting in Dubai, the governing body said the actions and statements of the West Indies players had been "inappropriate, disrespectful and brought the event into disrepute".The ICC said it had also given "serious consideration" to bringing charges against the team relative to its code of conduct.The West Indies players celebrated by removing their shirts, Marlon Samuels was involved in a bust-up with England all-rounder Ben Stokes for which he was fined, and captain Darren Sammy openly criticised the West Indies Cricket Board during the post-final interview.Richards, who featured in 121 Tests and 187 One-Day Internationals for the West Indies, felt the ICC had taken an unreasonable stance."When you look around the world in terms of the governance of the ICC, there are rules for some and not others," he observed."I am only trying to hit back because of what they are trying to do because of Sammy's comments. They are trying to be a body that if you say this, it�s out of order then you is going to be this and you're going to be that." He added.
strong>Cricket Australia has bolstered its campaign to host a day-night test against South Africa later this year by publishing an interview with captain Steve Smith in which he backed the proposed fixture.</strongSouth Africa's players balked at an invitation to play a day-night match in Adelaide in November after discussions with Australian players including Smith, Proteas skipper AB de Villiers said this week.Smith, however, said his team would be happy to play a day-nighter against South Africa at the famous South Australian venue, as well as the fixture already scheduled to be played under lights at the Gabba against Pakistan in December."I'm surprised that he named me," Smith was quoted as saying from India on the Cricket Australia (CA) website. "The feedback we gave them was that Adelaide is the best place to play it, in our opinion."We're playing one in Brisbane now, but Adelaide is the best place to play it and I think it could work there."I don't know where they've got their ideas from," he added. "If they wanted to play one we'd be happy to."The Australian Cricketers' Association, however, said on Friday that feedback it had received from the players indicated they would "prefer to only play one day-night test in 2016/17"."Pink ball tests are a fundamentally different game to traditional red ball test matches," chief executive Alistair Nicholson said in a statement."We continue to be concerned about the durability and visibility of the pink ball, both the changing light conditions and the specifically prepared pitches are altering the conditions that the players are used to at each venue."CA are determined to reprise the success of last year's inaugural day-night test against New Zealand at Adelaide Oval.The test attracted huge crowds but lasted only three of the scheduled five days on a wicket especially prepared to offset durability problems with the pink ball.CA are continuing their talks over the fixture with their South Africa counterparts and it looks likely that Chief Executive James Sutherland will have to get his cheque book out again.CA committed an additional A$1 million ($762,400) in prize money for the series to help overcome reservations from Australia and New Zealand players about the use of the pink ball.
 India will tour West Indies in July-August for a four-match test series which will mark the resumption of bilateral ties between them, the cricket boards announced on Saturday.</strongRelations between the two boards turned sour after a visiting Caribbean team pulled out midway through their 2014 tour of India over a protracted pay dispute with the West Indies Cricket Board (WICB).The Indian cricket board (BCCI) immediately suspended all planned Caribbean tours and demanded nearly $42 million in damages from its West Indian counterpart already grappling with a fund crunch and a players� revolt."BCCI is happy to resume their bilateral ties with WICB," BCCI secretary Anurag Thakur said in a statement, confirming all outstanding issues between the boards had been resolved."We recognise that West Indies has a huge role to play in the development of cricket and we are happy to support their endeavours."BCCI president Shashank Manohar confirmed in an interview last week that India had dropped the damages claim.Dates and venues of the series was not disclosed but any contest against India translates into significant television revenue."We are extremely delighted that concerns which arose due to the incomplete tour have been addressed and would like to thank BCCI for reviving our ties," WICB president Dave Cameron said in a statement."West Indies cricket appreciates the support of BCCI and the cricket loving fans of the islands keenly look forward to witness some exciting contests between the two teams."Leading West Indian players nearly pulled out of the World Twenty20 in India over the rumbling row with their board before Darren Sammy and his men went on to win the tournament in Kolkata earlier this month.
 Khyber Pakhtunkhwa (KPK) won the toss and elected to bat against Punjab in the day-night final of the Pakistan One-day Cup here on Sunday.Younis Khan is back after the umpiring incident and is leading the KPK team, who made two changes replacing Adil Amin and Israrullah for Younis and Musadiq Ahmed. On the other hand Punjab remain unchanged.Teams:KPK: Ahmed Shehzad, Fakhar Zaman, Zohaib Khan, Bismillah Khan (wk), Musadiq Ahmed, Younis Khan (captain), Fahim Ashraf, Yasir Shah, Sameen Gul, Zia-ul-Haq, Mohammad Asghar.Punjab: Shan Masood, Salman Butt, Shoaib Malik (captain), Asad Shafiq, Mohammad Rizwan (wk), Amad Butt, Saif Badar, Aamer Yamin, Kashif Bhatti, Zulfiqar Babar, Ehsan Adil.�
 Li Haotong kept the China Open title in local hands for the second year in a row by conjuring up his best round of the week, a bogey-free 64, to clinch his maiden European Tour title by three shots on Sunday.The 20-year-old Hunanese began the final round two shots behind overnight leaders Felipe Aguilar (69) and Lucas Bjerregaard (70) but carded a blemish-free round for a winning total of 22-under at the Topwin Golf and Country Club.Li became followed in the footsteps of Wu Ashun, who became the third Chinese winner of the country�s oldest professional tournament last year.He sank his eighth and final birdie on the penultimate hole and was already at 22-under when Aguilar�s tee shot on the 16th found water, the double bogey putting paid to the Chilean�s title hopes.Li said he was aware of the lead only on the 18th fairway and thanked his caddy for helping him not to get carried away by his aggressive approach."When I had my tee-shot, I walked to my second shot there and I was thinking I need to go hybrid to get to the front edge to give me an easy chip to there but my caddy said, �Haotong, you�re already three shots in the lead, you�ve just got to lay up and make par to win�. So thanks to him!" he said.The victory was a big relief for Li, who lost out in a play-off at the Shenzhen International last year and missed the cut at Genzon Golf Club last week."The start of this year has given me a lot of hard times," he said.<br/> "Even though I worked hard I still played badly, especially last week.<br/> I worked hard there and couldn�t control my ball."I just tried to relax myself and I�m really really happy to hold the trophy here."Aguilar finished 19-under, a shot ahead of Dane Bjerregaard, Englishman Richard Bland and German Marcel Siem.
 Jamaican Omar McLeod clocked the fastest time of the year to win the 110 metres hurdles at the Drake Relays in Iowa on Saturday as Olympic champion Aries Merritt finished fifth on his return from a kidney transplant.</strongOvercoming rainy conditions and a sodden track at the meeting in Des Moines, McLeod crossed the line first in a world-leading 13.08 seconds. American David Oliver, who won gold in the 110m hurdles at the 2013 world championships, came in second (13.31) with London Olympic bronze medallist and Jamaican national record holder Hansle Parchment third (13.42)."This weather is atrocious, it really is," a beaming McLeod, 22, who won the men�s 60 metres hurdles title at the world indoor championships in March, said in a trackside interview."I tried my hardest to get a good warmup and I started warming up real early... going up against guys like this, you have to be warm and you have to be ready.I am just glad I was able to come out here and finish it off, which was the plan. "World record holder Merritt, who was told he would never run again after being diagnosed with kidney disease in 2013, was delighted to finish fifth at his first track meeting since he received a new organ from his sister last September."My body felt really good," said Merritt, who won the bronze medal in the 110m hurdles at last year�s world championships just four days before having his kidney transplant./>"I had some complications mid-race. I hit a hurdle and I almost wiped Oliver out. It was just a little bit of rust there but, as the season progresses, I will be sharper and sharper and I will be able to maintain.I had a good time out here. "On Friday, Merritt explained how his new kidney needed "some getting used to" as he was still experiencing some pain during races."My trailing leg actually hits the kidney when I lean into the hurdles and sometimes it�s uncomfortable but, as time progresses, that pain will go away," he said.<br/>"It�s going to be a long season. Training has been going well, my health is back so I am really happy and excited about this year.
 Australia batsman Adam Voges was taken to hospital after being struck in the head by a ball while fielding during a county game in England.The Middlesex captain was hit in the back of the head by a ball thrown to the stumps by a substitute fielder and missed by wicketkeeper John Simpson during the match against Hampshire at Southampton�s Rose Bowl.Voges had to be helped from the ground by physios and had likely suffered concussion, Middlesex said."It is sad for Adam and disappointing for us as we will have no more use out of him in this match," Middlesex managing director of cricket Angus Fraser said."He wasn�t feeling very well in the dressing room so we decided to get him to the hospital to get him checked over."Cricket Australia were monitoring the situation.Australian cricket was plunged into mourning in 2014 when test batsman Phillip Hughes was struck in the head by a ball in a domestic game and subsequently died in hospital at the age of 25.
 Pakistan�s Chief Selector Inzamam-ul-Haq on Monday announced the names of probable players for the upcoming England tour. Former T20 Captain Shahid Afridi, Ahmed Shehzad and Umar Akmal's names are not included in the team.In a news conference while announcing 35 names for the training camp, the chief selector said �Shahid Afridi, Ahmed Shehzad and Umar Akmal were dropped over discipline issues and are unlikely to become part of the England squad.�The training camp will be held from May 14 to June 4 in Kakul, Abbottabad.Inzamam-ul-Haq said that the selection committee is totally independent. PCB can guide us but to take the final decision lies with us.Those shortlisted include players from the Pakistan international and �A� sides.�We are scheduled to play only six or so T20s in the coming year so we thought it is better to give chance to youngsters,� Inzamam said. �In the meantime, Afridi will also get some time to rest and hopefully will regain his form.�The selection committee has informed the PCB chairman Shaharyar Khan regarding the shortlisted players and it is likely that Afridi won�t be selected for the team�s training camp either, Geo News reported.Pakistan will start their England tour with the first Test scheduled on July 16, which will be followed by three more Tests, five ODIs and T20.When asked about Faisal Iqbal, Inzamam said "I am his Chacha (uncle) but his performance was not up to the mark during first class season.
 Messi�s youngest fan from Aghanistan is in Pakistan these days, Geo News reported.</strongFive-year-old Murtaza Ahmedi who became famous world over after pictures of him wearing a Messi shirt made out of a striped plastic bag went viral, is living in Hazara Town with his father.The father-son duos who can only speak Persian claim that they left Afghanistan for Quetta in search of a better livelihood.Dressed in a shirt signed by the football sensation Lionel Messi himself, little Ahmedi said, �I am a left-footed football exactly like Messi.�His father supports his dreams. �I want my child to get all the opportunities that Messi did. I want him to become a football star someday.�After pictures of Ahmedi wearing a plastic Messi shirt went viral, Messi expressed his wish to meet his youngest fan. He sent him two signed shirts, which became Ahmedi�s most prized possession, his family claims.The Afghan football federation had promised to arrange a meeting for them. An Afghan federation spokesman, Sayed Ali Kazemi, said they hope Messi can come to Afghanistan to visit the boy, but otherwise they will arrange to send him to Barcelona, the Guardian reported.
strong>Former England coach Peter Moores has turned down an opportunity to succeed Waqar Younis as the new Pakistan coach, the 53-year-old Englishman said.</strongCoaching Pakistan is one of the toughest jobs in international cricket and Younis stepped down a disillusioned man last month after the team's poor World Twenty20 display in India.Younis' exit has forced the Pakistan Cricket Board (PCB) into fresh head-hunting and Moores said he declined a chance to return to international coaching after England sacked him for the second time last year."I was hugely flattered to be approached," Moores, currently a consultant with Nottinghamshire, told ESPNcricinfo. "And I was very tempted by such a prestigious role with an exciting team."But having thought about it deeply, I don't think it is the right time for me or my family. I have committed myself to a consultancy role with Nottinghamshire and I am enjoying spending time with my kids as they grow up."After the team's woeful campaigns both in the Asia Cup and the World Twenty20, the PCB has embarked on rebuilding the side, appointing former cricket captain Inzamam-ul-Haq as the new chief selector.
 Fakhar Zaman slammed a spectacular century to help Khyber Pakhtunkhwa demolish Punjab by 151 runs in the final of Pakistan Cup 2016 at Iqbal Stadium, Faisalabad, on Sunday.</strongIn the day-night decider, Fakhar (115) and Ahmed Shehzad (62) gave a rapid start to enable KP to pile up 311-9 in the allotted 50 overs.Spinners Yasir Shah (3-26) and Zohaib Khan (3-23) then bowled superbly to dismiss Punjab for 160 in 36.1 overs.KP had also lifted the Pentangular Cup in January 2015 when they defeated Balochistan by six wickets in the final under the captaincy of Junaid Khan in Karachi.The Pakistan Cricket Board (PCB) this season named this event as Pakistan Cup by making some changes.Younis Khan won a vital toss and quite rightly elected to bat first on a pitch that was full of runs.In-form openers Shehzad (62) and Fakhar (115) provided an opening stand of 118 in 15.4 overs.Left-arm spinner Kashif Bhatti finally broke the partnership when he had Shehzad stumped by Mohammad Rizwan. The decision was given through a referral.Shehzad, who seemed in elegant touch, smacked two sixes and seven fours in his fiery 45-ball knock.Shehzad finished the event as the highest scorer with 372 runs, including three fifties and a superb 143.Younis promoted left-handed all-rounder Zohaib Khan (12) in the batting order but he departed early. Shoaib Malik had Zohaib caught at deep square-leg by Amad Butt when he attempted a slog sweep.Zohaib, who struggled against Malik, faced 27 deliveries.Fakhar was held at short mid-on by substitute Asif Ali off Test pacer Ehsan Adil after the Mardan-born player had cracked the fourth century of his career.Fakhar hit Shoaib for a four towards mid-off to complete his hundred. He struck three huge sixes and 12 fours in his 111-ball feat. He ended the event as the second highest scorer with 297 runs, which included one century and two fifties.Fakhar added 52 with Younis (49) for the third wicket.Younis and Fahim Ashraf (31) added 57 for the fourth wicket before Ehsan dismissed the latter to leave KP at 265-4 in 44 overs.Fahim struck three fours and a six from 37 balls. Musadiq Ahmed (19) used long handle, hitting two fours and one six in his rapid ten-ball knock.Younis smacked one six from 59 balls before being caught by Shan Masood off Amad as KP lost four wickets off the last 13 balls.Young all-rounder Amad was the pick of the bowlers with 3-55 in ten overs. Ehsan and Aamer Yamin remained expensive with figures of 2-75 in ten overs and 1-49 in six, respectively.Punjab had a poor start when left-arm pacer Zia-ul-Haq removed Salman Butt (0) and Aamer (1) in quick succession to leave them at 29-2 in 7.2 overs.Asad Shafiq (16) also fell early, held excellently by Fakhar at short-cover off the bowling of Fahim. Asad struck three fours from 15 balls.Left-arm spinner Mohammad Asghar got the prized scalp of Shan Masood (36). Asghar tossed it up, it swung in sharply, Shan went on back-foot to cut it, missed it completely before it crashed the stumps. Shan hit five fours from 40 balls. Punjab were gasping at 55-4 in the 13th over.Shoaib (24) and Rizwan (22) tried to consolidate the innings, but at 97, Test-leggie Yasir Shah had the Punjab captain caught by Fahim in the deep. Malik smashed one six and two fours from 26 deliveries.Left-arm spinner Zohaib dislodged Rizwan and Amad (0) in his first over to leave Punjab tottering at 107-7 in the 23rd over.Fahim took his third catch when he held Rizwan at point after the international stumper had smacked two fours from 33 balls. Yasir removed Saif Badar (10).Zulfiqar Babar (29) and Kashif Bhatti (15) extended KP�s wait for celebration as they added 36 for the ninth wicket before Zohaib sent back the former, trapped lbw.Zulfiqar struck two sixes and one four from 32 balls. Yasir completed the rout when he had Ehsan (5) to fold Punjab.Zia-ul-Haq got 2-25 in eight overs.The winners KP received Rs2 million and a glittering trophy, while the runners-up received Rs1 million and runners-up trophy.Besides, Rs100,000 each was handed over to the best all-rounder Zohaib Khan (176 runs, 11 wickets), man of the match Fakhar Zaman, best batsman Ahmed Shehzad (372 runs), best bowlers Mohammad Amir (Sindh) and Zohaib Khan (11 wickets each).KP had brought in Younis Khan and Musadiq Ahmed by dropping Adil Amin and Israrullah. Punjab did not make any change.Ahsan Reza and Shozab Reza supervised the match. Asif Yaqoob acted as television umpire, Khalid Mehmood as reserve umpire and Musaddiq Rasool as match referee.Score BoardKhyber Pakhtunkhwa won tossKhyber PakhtunkhwaAhmed Shehzad st Rizwan b Kashif 62Fakhar Zaman c sub (Asif) b Ehsan 115Zohaib Khan c Amad b Shoaib������� 12*Younis Khan c Shan b Amad�������� 49Fahim Ashraf lbw b Ehsan��� 31Musadiq Ahmed c Amad b Aamer��� 19�Bismillah Khan c Saif b Amad������� 5Yasir Shah b Amad��� 4Sameen Gul run out� 0M Asghar not out����� 4Extras (lb 3, w 6, nb 1)������ 10Total (9 wickets; 50 overs)� 311Did not bat: Zia-ul-HaqFall: 1-118, 2-156, 3-208, 4-265, 5-288, 6-298, 7-305, 8-305, 9-311Bowling: Aamer 6-0-49-1 (1w); Ehsan 10-0-75-2 (1nb, 1w); Zulfiqar 10-0-63-0 (1w); Amad 10-0-55-3 (1w); Kashif 6-0-32-1 (1w); Shoaib 8-0-34-1 (1w)PunjaShan Masood b Asghar������� 36Salman Butt lbw b Zia�������� 0Aamer Yamin c Yasir b Zia�� 1Asad Shafiq c Fakhar b Fahim������� 16*Shoaib Malik c Fahim b Yasir�������� 24�M Rizwan c Fahim b Zohaib 22Saif Badar c Younis b Yasir�� 10Amad Butt c &amp; b Zohaib Khan�������� 0Zulfiqar Babar lbw b Zohaib� 29Kashif Bhatti not out� 15Ehsan Adil c Ahmed b Yasir� 5Extras (w 2)�� 2Total (all out; 36.1 overs)��� 160Fall: 1-5, 2-29, 3-53, 4-55, 5-97, 6-107, 7-107, 8-119, 9-155, 10-160Bowling: Sameen 5-0-31-0 (1w); Zia 8-2-25-2 (1w); Asghar 8-0-45-1; Fahim 2-0-10-1; Yasir 8.1-0-26-3; Zohaib 5-0-23-3Result: Khyber Pakhtunkhwa won by 151 runsSeries: Khyber Pakhtunkhwa won the 2016 Pakistan CupMan of the Match: Fakhar Zaman (Khyber Pakhtunkhwa)Umpires: Ahsan Raza and Shozab Raza. TV umpire: Asif Yaqoob. Match referee: Mussadaq Rasool
 Australia cricket captain Steve Smith has pulled out of the Indian Premier League to head home for treatment on a wrist injury. Cricket Australia said Smith had laboured due to pain in his right wrist for the past week while playing for Pune in the Twenty20 tournament.</strong"From the information we have so far, this doesn�t appear to be a serious injury but we are keen to give him the time to recover and rehabilitate before heading to the West Indies at the end of May," CA said in a statement on Monday./>All-rounder Mitchell Marsh was also pulled from the IPL to have treatment on a side strain, CA had said on Sunday. Australia will play a one-day international tournament with West Indies and South Africa in June.
 Cricket legend Sachin Tendulkar has accepted Indian Olympic Association's (IOA) invitation to become the country's goodwill ambassador for the upcoming Rio Olympics.<br/> <br/> Tendulkar is the third goodwill ambassador roped in by IOA after Bollywood actor Salman Khan and ace shooter Abhinav Bindra.<br/> <br/> The IOA on Tuesday confirmed that Tendulkar has accepted its offer after the national Olympic body had invited the batting legend to come on board on April 29.<br/> <br/> "Sachin Tendulkar has accepted our request to become goodwill ambassador of Indian contingent at the Olympics. We have received the official communication from him accepting our request," IOA Secretary General Rajiv Mehta told PTI.<br/> <br/> "We are very happy to have an iconic sportsperson like Mr Tendulkar on board as goodwill ambassador. We are thankful to him. We hope his association and the association of other goodwill ambassadors will take Indian sport forward," he added.
 South Africa have dropped to No. 6 in the Test rankings, while Pakistan have climbed to third place, in the annual update released by the ICC on Tuesday.Australia have taken a six-point lead over second-placed India, while Pakistan trail India by only one point.England and New Zealand benefited from South Africa's drop, moving to fourth and fifth respectively. West Indies retained their eighth-place ranking but lead Bangladesh by only eight points.South Africa and West Indies lost the most points in the update, 17 and 11 respectively. The calculation process dropped results from 2012-13, while outcomes from 2014-15 were weighted at 50%. Only the latest results had 100% weightage. As a result, South Africa's series victories over England, Australia, New Zealand and Pakistan in 2012-13 were not factored in. They lost series to India and England and drew with Bangladesh in the 2015-16 season. West Indies had beaten New Zealand, Bangladesh and Zimbabwe in 2012-13 but lost to Australia and Sri Lanka in 2015-16.The update favoured Pakistan, because their 2-0 loss to Sri Lanka in August 2014 was weighted at 50%. In terms of points gained, Bangladesh made the most progress, getting ten points, followed by Australia, who gained six.Zimbabwe, ranked No. 10, have 12 points but were not included in the rankings table released by the ICC on Tuesday because they had not completed the required eight Tests in the new rating period. The ICC said Zimbabwe will be added to the table once they play two more Tests. 
 Zimbabwe will host India for three one-day internationals and three Twenty20 matches in June, the country�s cricket board said on Tuesday.All the matches will be played at Harare Sports Club with the ODIs scheduled to be played between June 11and 15 and the Twenty20s between June 18 and 22."After finalising all the formalities with the Board of Control for Cricket in India, we are pleased to announce the incoming tour scheduled for this June," Zimbabwe Cricket managing director Wilfred Mukondiwa said in a statement.India have been regular travellers to Zimbabwe in recent seasons with three previous tours since 2010, including last year, all featuring limited-overs matches.
 The Olympic flame arrived on Tuesday in Brazil's capital where it will start a 90-day relay through 300 cities that will end with the opening of the 2016 Games in Rio de Janeiro's Maracan� stadium on August 5.</strongPresident Dilma Rousseff, who is facing impeachment proceedings in Congress, was due to attend the lighting of the Olympic torch at the presidential palace, though she will likely be removed from office before the opening ceremony in Rio.The Olympic flame arrived in Brasilia aboard a TAM jetliner that was escorted by two Brazilian Air Force fighters.
 Shahid Afridi, who has been rested and has not been named for national training camp, said he was looking forward to playing as professional in the foreseeable future and wanted to set up his cricket academy as well.</strong�I will continue to play cricket for my leagues,� Afridi said in an interview with Rameez Raja for ICC Cricket 360�. �I�ve signed with Hampshire County and will play that as well. PSL is also happening, and apart from that if I get any good opportunity I will take it. Also I would like to carry on with my charity work for my Shahid Afridi foundation and have an ambition to set up a proper academy.�Afridi, who announced his ODI retirement after Pakistan�s quarter-final loss in the ICC Cricket World Cup 2015, continues to play the shortest format.After the team�s dismal show in World Twenty-20, former Pakistan skipper Inzamam-ul-Haq has been brought in the PCB fold as chief selector. Inzamam has axed Ahmed Shahzad and Umar Akmal on the basis of their disciplinary conduct and has rested Afridi citing the reason that Pakistan will be playing few T20Is and he also wants to give chance to youngsters.When asked about the emerging talent pool in the country, Afridi said the Pakistan Super League was a great platform for youngsters keen to make a foray into the national side.�The first Pakistan Super League was a great boost for Pakistan cricketers financially, and in terms of exposure as well,� said Afridi.�The talent is definitely there but we have to search and that will happen from academies. So we need to build proper academies in each city and the talented kids can use the facilities. Right now, the boys only learn once they get selected into the national team. For example, proper training, diving skills should be learnt at U16 and U19 level in the academies�, he concluded.�
 Pakistan�s former fast bowler Shoaib Akhtar is enjoying pleasant weather of Islamabad after the hectic commercial and cricket related assignments abroad.He took social media to give a glimpse of his leisure time to his fans standing in shorts at hilly side of national capital on Tuesday.He writes on twitter �Heatwave is hitting across Punjab in Pakistan.. But thanks GOD it's pleasant in isloo...�� dir="ltr" lang="en">�
 Pakistan�s former T20 captain Shahid Afridi is out of the field but very much concerned about the future of Pakistan cricket and wants the PCB to go back to the basics and work at the grassroots level.</strongAfridi who stepped down as the national T20 captain last month after the team�s dismal shows in the Asia Cup and World T20 said he was worried that there was no real strong talent present in Pakistan�s domestic structure.�The way I see it right now we don�t have that much real talent in the background. I can�t pinpoint any young player with certainty. I think the Board needs to pay attention to school cricket and work at grassroots level,� he said while speaking to Geo Super, Pakistan premier sport channel.Afridi was also excluded from a month-long training camp announced for the tour to England on Monday by the national selection committee but said he had already informed the board about his non-availability.�I am just focusing on T20 cricket and I had informed the board about my commitment in English county cricket this summer. But I will obviously work hard on my form and fitness in order to make the Pakistan team,� Afridi said.Chief selector, Inzamam-ul-Haq also made it clear at a media conference that Afridi was not dropped and would be considered for future T20 matches but the selectors wanted to focus on young talent.Pakistan will play just one T20 in England and two more against the West Indies in UAE in October.Afridi said he was not aware why Ahmed Shehzad and Umar Akmal were dropped from the side.�I don�t know why they are dropped but if discipline is the reason than obviously they need to pay attention to this and work hard on their cricket. I also agree that there should be no compromise on discipline and it is time to give young players a chance,� he added.Afridi said he would support any move by the selectors to improve things in Pakistan cricket.
 �Leicester City�s Premier League title dream finally became reality as nearest pursuers Tottenham Hotspur squandered a two-goal lead to draw 2-2 in a thrilling game at Chelsea on Monday.</strongWith Leicester�s players watching on television 160km away in the East Midlands, first-half goals from Tottenham�s Harry Kane and Son Heung-min looked like extending the title race to the penultimate weekend of an unforgettable season.But after the break Gary Cahill gave Chelsea a lifeline and Eden Hazard�s superb equaliser effectively handed the title to Leicester and their former Chelsea manager Claudio Ranieri.With two games left, Leicester are an unassailable seven points of second-placed Tottenham with their title triumph sparking joyous scenes across the East Midlands city.Leicester, 5,000-1 outsiders at the start of the season, are champions for the first time and the first team to win a maiden English title since Nottingham Forest in 1978, having left the likes of Manchester City, Chelsea and Arsenal in their wake.Strangely the biggest match in Leicester�s history was one they were not involved in as the final act of an absorbing title race was played out in west London between last year�s champions and a Tottenham side who have refused to give up the chase.But Claudio Ranieri�s intrepid Foxes had already done the damage, churning out consistent results to stay on top of the table since Jan. 23 as their rivals fell by the wayside.
 Australian Nick Kyrgios let his tennis do the talking against Stanislas Wawrinka as he knocked the fourth seed out of the Madrid Open with a scintillating display on Wednesday.Last year the 20-year-old got a suspended 28-day ban and $25,000 fine after making lurid remarks about Swiss Wawrinka�s girlfriend during their match at the Rogers Cup in Montreal.Kyrgios, who has had several brushes with authority, was widely criticised, but his 7-6(7) 7-6(2) second round victory on Wednesday was further proof of a growing maturity after he won his first ATP title earlier this year in Marseille.There was the odd outburst at the umpire, one after a first serve during the first-set tiebreak was called out despite appearing to clip the line, but Kyrgios kept his emotions in check to edge a tight tussle.Japan�s Kei Nishikori, the sixth seed, had a narrow escape before joining Kyrgios in the third round.Italy�s Fabio Fognini recovered from losing the opening set to level the match and served for the match at 5-4 in the decider before imploding.Nishikori won 6-2 3-6 7-5 to set up a meeting with Frenchman Richard Gasquet.
 Azhar Ali and his men now have a daunting task to retain its ranking in the �Top Eight� after being pushed out of the elite club following annual update since only the top eight sides on September 30, 2017 will qualify directly for cricket�s biggest event World Cup.If ninth placed Pakistan fails to squeeze into �Top Eight� by the cut-off date then it will have to join the top sides from the ICC World Cricket League along with three other bottom ranked sides in the ICC Cricket World Cup Qualifier 2018 to fight for the two remaining positions.West Indies has exchanged places with Pakistan after results from 2012-13 have been dropped, while results from 2014-15 have been reduced to a weighting of 50 per cent.Although there will be another ODI team rankings annual update prior to this cut-off date, it is significant that from now on the results of all ODIs that will affect qualification will be weighted at 100 per cent whereas matches played between May 2014 and April 2016 will by then be weighted at only 50 per cent.All the teams bunched together in the middle of the table will have to win as many matches as possible in the forthcoming season, knowing it will help ensure direct qualification for the ICC Cricket World Cup 2019, which will be staged from May 30 to July 15 in the United Kingdom.Meanwhile, Australia and New Zealand have retained the top two positions. Australia, which won its fifth World Cup title in Melbourne last year, is now sitting on 124 points after dropping two points to lead New Zealand by 11 points. South Africa has swapped places with India to move into third position.Other sides to gain following the annual update include sixth-ranked England (103, up two), seventh-ranked Bangladesh (98, up one), eighth-ranked West Indies (88, up two), 10th-ranked Afghanistan (51, up four) and 11th-ranked Zimbabwe (47, up two). 
strong>Real Madrid forward Cristiano Ronaldo is confident he will go down in history as one of the sport�s best players helped by his status as the Champions League�s all-time top scorer.</strongThe three-time FIFA Ballon d�Or winner has netted 93 goals in Europe�s elite club competition, including five hat-tricks.His closest rival is Barcelona�s Lionel Messi, who is 10 goals behind him in the Champions League scoring charts."I don�t doubt that I will go down in footballing history. Whether people like it or not, the numbers speak for themselves. I will be up there with the rest," Ronaldo, 31, told the UEFA website (www.uefa.com) in an interview."Some like it more, some like it less, but I have no doubt that I�m already in the history of football. "I always felt that I was a special player.I�ve always worked hard, believed in my potential and I�ve developed more and more as a player, as a person, as a human being."Ronaldo has 16 Champions League goals this season, the most by any player in a single campaign, which has propelled 10-times European Cup winners Real to a semi-final with Manchester City.The Portugal international, who missed last week�s goalless first leg, will aim to extend his scoring record on Wednesday when Real and City battle at the Santiago Bernabeu for the right to face Atletico Madrid in the final in Milan on May 28. "It�s a privilege to know that I�m the leading goalscorer of all time in the Champions League.Obviously, I feel very happy at having achieved that," the 31-year-old said."It�s a special competition and a competition that Real Madrid love.I�ve been lucky enough to win it twice and obviously I want to win it more -- hopefully again this year.
 Defending Champions Pakistan recorded second consecutive victory in the ongoing �3rd Asian Kabaddi Championship (circle style) by defeating Sri Lanka by 56-23 points, POF Wah Cantt on late Tuesday.In the other matches played on Tuesday, India beat Afghanistan by 48-20 points while overcame Nepal by 31-14 points.
 Amir Khan will have to produce one of the greatest displays ever seen by a British boxer if he is to beat WBC middleweight champion Saul Alvarez in Las Vegas on Saturday, according to Ricky Hatton.</strongThe 29-year-old, like fellow Briton Hatton a former light-welterweight world champion, has moved up two weight divisions - putting on the best part of 10 kilos - to take on flame-haired Mexican Alvarez, whose only defeat in 48 fights came against Floyd Mayweather Jr in 2013.Khan is a huge underdog against Alvarez, nicknamed Canelo (the Spanish word for cinnamon) because of his hair, but Hatton believes he could pull off an upset."It�s a big ask. He has the tools to do it and I hope he does it, but it�s a massive, massive ask to keep out of trouble for 12 rounds against Alvarez who has improved so much since the Mayweather fight," Hatton told Reuters."If he does pull it off, going from welterweight to middleweight and winning the title, it would be one of the best wins in British boxing history I think. "Hatton knows firsthand the dangers of moving up a weight.He suffered his first career defeat when Mayweather knocked him out in a WBC welterweight world title bout in Las Vegas in 2007 and was never the same fighter again.According to the 37-year-old Hatton, who is now a boxing promoter having hung up his gloves in 2012, Khan must not get involved in a slug fest with the more powerful Alvarez and use his superior movement to stay out of trouble?"It�s a fight that I didn�t think would be made," said Hatton, whose stable includes upcoming British heavyweight Nathan Gorman."Amir always has good fights, but he needs to make this one boring."If he tries to have a go with this lad, I don�t think he needs me to tell him, he needs to use his speed, move, move.The moment he stops moving those feet, he will be in trouble because Alvarez is a big puncher."Hatton�s concern is that by putting on some extra pounds to move up, Khan may have slowed down for what will be his first fight in a year since beating American Chris Algieri."I don�t think it�s the hand speed. It�s the foot speed. Amir is not a fighter like Mayweather, he is more straight backed. "He has to use his feet to be defensive.
 Former Australian fast bowler and ex Pakistan head coach Geoff Lawson believes Salman Butt can make a comeback for Pakistan saying he is highly motivated and is an outstanding talent.</strongLawson said Butt is still young and can make a comeback for Pakistan. When I was his coach he was an outstanding talent.That talent doesn�t go away but it depends on how much you are motivated and how much you still want to do well.It wouldn�t surprise me if Butt made a successful international comeback, Pakpassion.net quoted him as saying.Speaking about Muhammad Amir Lawson said he remembers Amir asa very young player who came to some of my practice sessions when I was coaching Pakistan.Amir was working with the Under 19s and even then looked very impressive.I am pleased that after a difficult period he has comeback bigger and stronger and is bowling terrifically well. It is also very good for Pakistan cricket that he is back he said.Talking about the attitude of some Pakistani players that has come into question after comments from some coaches Lawson said if people are not willing to work hard then there are enough good young players in Pakistan to replace them.Get people in who are motivated. If you aren�t playing for your country then there is no point in playing cricket.Pakistan has had some pretty successful times lately under Waqar Younis and Misbah ul Haq and one would hope that the players would continue to be motivated, he said.Commenting on the Day Night Test cricket he said he is surprised at the resistance of some countries.Well done to Pakistan in agreeing to play a Day Night Test match in Australia.The pink ball is not that different to a red ball in any case you just have to practice with it and its fine.We use red or white so why not use pink cricket balls Pakistan should be congratulated on agreeing to play in Australia with the pink ball he said.
strong>Leicester City have the chance of making anything between 150 million pounds and 250 million pounds from their sensational Premier League triumph, according to sports marketing experts.</strongThe city of Leicester in England's Midlands should also expect to enjoy a huge commercial boost after its hometown team wrote the unlikeliest of sporting success stories, one that has captured headlines around the world.Yet though the club known as the Foxes will gain this substantial windfall, they still have a long way to go to join the true big-money elite of world football.The club that had never won the top-flight crown in its history will cash in through the 90 million pounds in prize money from the Premier League, and money from competing in Europe's Champions League next season, as well as increased TV and match day revenue.With Leicester's increasing attraction to sponsors as the champions of the Premier League, which possesses remarkable global appeal, it could all be worth as much as 150 million pounds to the club, said the sports and entertainment intelligence firm, Repucom, on Tuesday.Other experts have put the estimates much higher with some British media reports suggesting that the figure could be much nearer 250 million pounds, particularly if Leicester's success proves to be more than a one-season wonder.Leicester's TV audiences have soared by over 23% globally this season and because of the excitement inspired by their run to the title, audiences in the UK have grown from 785,000 to over one million per game.In Italy, the numbers watching Leicester's games have doubled, largely thanks to the interest generated by the club being managed by Italian coach Claudio Ranieri."Leicester's media values have jumped by 30 percent globally whilst in the U.S. they have grown by over 70 percent, showing first-hand the increase in value to current and potential sponsors," Repucom said.Leicester's first appearance in the lucrative Champions League will also make a vast difference to their coffers in the region of 36 million pounds.As well as increased TV exposure, it will generate increased revenues from group stage fees, a proportion of the competition's market pool and a participation bonus, totalling 33 million pounds, as well as 3 million pounds performance bonus.A story which had echoes of Leicester's triumph was Atletico Madrid's breaking of the Barcelona-Real Madrid duopoly to win La Liga in 2014.Based on the increased match day and commercial revenues that unlikely champions Atletico gleaned, Leicester can expect to see between 10 to 15 million pounds boost in that area."Leicester City FC's real commercial potential will become clearer in the season break as brands vie to associate themselves to the club," Spencer Nolan, head of consulting at Repucom, said.So, much will depend, in the mid to long-term on how successful the club, owned by Thailand billionaire Vichai Srivaddhanaprabha, are in developing their fan base.Though their victory was greeted enthusiastically in Thailand, where Srivaddhanaprabha's family runs the duty-free empire King Power, their fan base is still not in the same league as the historic elite of the English game like Manchester United, Arsenal and Liverpool.Meanwhile, Leicester itself hopes for an economic boon, with the local newspaper, Leicester Mercury, reporting that financial experts believe the overall economy in the city could benefit to the tune of 49 million pounds.The numbers of visitors to the city have grown rapidly since the discovery of the remains of King Richard III in 2012 and now tourism chiefs hope that being the home of England's football champions will prove a draw card for Leicester too.
 Indian tennis star Sania Mirza has documented her journey to become the World No. 1 in the women's doubles rankings in an autobiography set for release in July this year, according to�publishers Harper Collins.</strongTitled, 'Ace against Odds,' the book has been penned by Sania with her father Imran Mirza."Sania's is an extraordinary achievement and her autobiography is as compelling as it is inspirational. We are privileged to be able to work with her on the book," Karthika V K, Publisher and Chief Editor, Harper Collins told Times of India.The 29-year-old sportswoman, who shot to fame at the age of 16 after winning the Wimbledon's Championships Girls' Doubles title, was ranked as India's No. 1 player by the Women's Tennis Association, both in singles and doubles circuits."I hope the book is a useful roadmap to guide the next generation of tennis players from India. If my story can inspire even one youngster to the heights of winning a Grand Slam in the future, I will feel blessed," says Sania Mirza.The autobiography chronicles her rise to the top, and is peppered with anecdotes where she talks about the difficulties and hardships as well as the joys and triumphs that came her way.Sania Mirza, who announced her retirement from the singles circuit in 2012 underwent a remarkable transformation between August 2015 and March 2016, during which she pocketed 41 consecutive wins with her doubles partner Martina Hingis, and went on to become the World No. 1 in the Women's Doubles rankings.The book also contains some memorable encounters of the player on and off the court and the people and relationships that have contributed to her growth as a person and a sportsperson.The tennis star who is married to Pakistani cricketer Shoaib Malik is among the highest paid and high profile athletes in the country.
strong>A young Afghan fan of Argentine soccer star Lionel Messi has fled his home and gone to Pakistan because his family feared he could be kidnapped after he became an unlikely Internet sensation, the boy's uncle said on Tuesday.</strongFive-year-old Murtaza Ahmedi grabbed world headlines after being photographed in a shirt improvised from a plastic bag in the colours of the Argentine national team bearing Messi's name and number 10 playing number.After pictures of Murtaza went viral on social media, his family feared that after becoming famous worldwide, he could be abducted by kidnappers for ransom. His home is in the central region of Ghazni where security has been fragile and where kidnappings are common."These people felt that the different gangster and terrorist groups in Afghanistan might kidnap him," his uncle Wahid Ahmedi said in the western Pakistani city of Quetta, where Murtaza's family have sought refuge."There are such gangs that can kidnap him and then demand ransom. His father does not have so much money. That is why they have shifted from there (Afghanistan) to this place."For the moment, Murtaza's dream of meeting his idol has not come true but his family said they continued to hope."We request the government here, the Afghan government, the United Nations, and any Football Associations to fulfil Murtaza's wish of meeting Messi," Ahmedi said.
 Pakistan Cricket Board (PCB) will have to continue its hunt for the post of head coach as former Australian batsman Stuart Law, who was the top choice of the board for the position, declined to accept the offer.�He had applied for a coaching position with us but he has now conveyed he is more interested in a consultant�s position and that he wouldn�t be able to join the team immediately�, a foreign news agency quoted the PCB Chairman Shahrayar Khan as saying.Law is already signed up by Cricket Australia as a batting consultant for the tour to Sri Lanka from July to September and apparently he has told the PCB he is also not available when Pakistan tour Australia in November-December this year.Now the board is in talks with former Scotland coach AndyMoles and Australian batsman Dean Jones.The 81-�year old Shaharyar added that Law was unavailable to join up with the team immediately as well as not interested in a full-time position.He said PCB were now also talking to Moles and Jones although the BOG had some reservations over some candidates, the PCB chief said.The PCB Chairman also added that Moles would have to leave his current coaching assignments with the associate members he is currently involved with.�What is of concern to us is that Moles left or had to leave coaching assignments with Kenya, Scotland, New Zealand and Afghanistan because of disagreements or discord with their boards or players the source said.�We want the new coach to join the team before the tour to England from next month. Once the head coach is appointed we will also finalise the rest of the support staff with him�, he added.�
 West Indies opner Chris Gayle took a friendly jibe at Pakistan�s out of favoured opener Ahmed Shehzad.</strongShehzad took to Twitter to initiate a chat-session with his fans which got a joly�response from West Indies' superstar Chris Gayle. dir="ltr" lang="en">� Ahmad Shahzad (@iamAhmadshahzad) <a href="https://twitter.com/iamAhmadshahzad/status/727864023262371841">May 4, 2016</aIn response to the tweet, Gayle, who had been teammates with the Pakistan opener at Jamaica Tallawahs during the inaugural edition of the Caribbean Premier League, asked Shehzad whether excessive selfies were the reason behind his axing from the Pakistan team. dir="ltr" lang="en">�� Chris Gayle (@henrygayle) <a href="https://twitter.com/henrygayle/status/727866644039667713">May 4, 2016</aShehzad is known for posing for selfies and his Twitter wall makes it evident. Gayle, who had shared the dressing room with him, was quick to use it against him. dir="ltr" lang="en">� Chris Gayle (@henrygayle) <a href="https://twitter.com/henrygayle/status/727878807928115200">May 4, 2016</aShehzad was dropped for England tour due to issues with his attitude and discipline.Pakistan�s newly appointed chief-selector Inzamam-ul-Haq said he had spoken to all the selectors and other stakeholders of Pakistan cricket and also gone through the reports of the former coach and manager before taking the decision to drop Ahmed Shehzad and Umar Akmal from the side.
 England's Amir Khan sparked loud roars of laughter ahead of his WBC middleweight title fight with Mexican Saul "Canelo" Alvarez on Saturday when he aimed a light-hearted verbal jab at Republican presidential candidate Donald Trump.</strong"You never know, this could be the last fight for me and Canelo here, that's if Donald Trump becomes president so ...," Khan said before breaking off with a chuckle during a news conference at the MGM Grand in Las Vegas on Wednesday.As the entire room erupted with loud guffaws, cheers and whistling, Khan went on to say: "You never know. You have to all tune in come Saturday."Challenger Khan, a Muslim boxer with a 46-1-1 record including 32 knockouts, was speaking during the final news conference before Saturday's showdown at the T-Mobile Arena in Las Vegas.Khan made his comments the same day that Trump became the last man standing in the race for the Republican U.S. presidential nomination as the American's sole remaining rival, John Kasich, ended his campaign.Trump has made his party's establishment uneasy with his abrasive tone and policy positions, including his promise to build a wall on the U.S.-Mexican border, deport 11 million illegal immigrants and temporarily bar Muslims from entering the country.On a more serious pugilistic note, Khan pledged to show his fans "the best of Amir Khan" in the ring against Alvarez."Canelo is a tough guy, he's strong but we are going to be ready for whatever he brings to the table," said the 29-year-old from Bolton, a two-time former world champion."That's the reason I chose this fight because I really do believe I can win. He's a great champion, he's a credit to boxing but it's my time and I am going to grab it with both hands."Renowned for his lightning hand and foot speed, Khan is a 5-1 underdog and will be taking on a bigger man in Alvarez, who is known for his punching power and has lost just once in 48 fights -- to undefeated American Floyd Mayweather Jr. in 2013."I know what Amir Khan brings," said Alvarez, nicknamed 'Canelo' (the Spanish word for cinnamon) because of his red hair."He is a very fast, very elusive, very tricky fighter, but I am confident with the work that's been done that I will be able to go in there and break this down."
 Pakistan defended their title in Asia Kabaddi Cup 2016 defeating India by 19 points here on Friday.They achieved 50 points against 31 by their arch rivals in the final of the tournament.Pakistan won the title for the second time in a row.Earlier, both Pakistan and India remained unbeaten in their pool matches of the tournament.Pakistan had won their pool matches against Iran, Afghanistan, Nepal and Sri Lanka.
 Left-arm wrist spinner Tabraiz Shamsi has been handed a first call-up by South Africa�s One Day International squad for next month�s triangular series against the West Indies and Australia.The 26-year-old is one of three specialist spinners named on Friday, as South Africa anticipate slow pitches in the Caribbean."Tabraiz has certainly earned his call-up following outstanding form both in our domestic cricket and in some of the major domestic T20 leagues including the Caribbean Premier League," said convener of selectors Linda Zondi in a statement from Cricket South Africa."I am quite excited about the state of our spin bowling and the variety we have.<br/> We are sending two wrist spinners to the Caribbean plus left-arm and right-arm finger spin options.Spin bowling is becoming an increasingly important part of both limited overs formats and we are only just over a year away from the ICC Champions Trophy Tournament in England," Zondi said.Injury-plagued fast bowler Dale Steyn is being rested for the six matches in Guyana, St Kitts and Barbados with an eye on his fitness for the test series against New Zealand in August plus Australia and Sri Lanka later in the year.He is replaced in the ODI squad by Wayne Parnell.Faf du Plessis has been included in the squad despite a broken finger, suffered in the Indian Premier League and which required surgery earlier this week.He is expected to return to action for South Africa�s second match of the triangular series against Australia in Guyana on June 7.Squad: AB de Villiers (Titans, captain), Kyle Abbott (Warriors), Hashim Amla (Cape Cobras), Farhaan Behardien (Titans), Quinton de Kock (Titans), JP Duminy (Cape Cobras), Faf du Plessis (Titans), Imran Tahir (Dolphins), Morne Morkel, Chris Morris (both Titans), Wayne Parnell (Cape Cobras), Aaron Phangiso, Kagiso Rabada (both Highveld Lions), Rilee Rossouw (Knights), Tabraiz Shamsi (Titans).�
 Pakistan Cricket Board (PCB) has finally decided to appoint South Africa�s former cricketer Mickey Arthur as head coach of the national cricket team here on Friday.The PCB released a statement confirming the appointment of the 47-year-old South African as Pakistan's new coach. He replaces Waqar Younis, who resigned from the post last month after Pakistan's disastrous Asia Cup and ICC World Twenty20 campaigns.Geo News has reported that the PCB has finalised the terms and conditions with Arthur on phone.Mickey Arthur is a South African cricketer who played South African domestic cricket from 1986 to 2001.He coached the South African national team from 2005 to 2010, and was the coach of the Australia national cricket team until his sacking on 23 June 2013.He has recently coached Karachi Kings in Pakistan Super League.Arthur will assume his charge after coming to Pakistan by the end of this month.
 Challenger Amir Khan readily accepts that he is a huge underdog for his WBC middleweight title clash with Mexican Saul "Canelo" Alvarez in Las Vegas on Saturday but has promised to give his much bigger opponent "a boxing lesson".</strongEnglishman Khan has moved up two weight divisions to take on the flame-haired Mexican, whose only loss in 48 professional fights was to undefeated American Floyd Mayweather Jr. in 2013."I'm not supposed to win," Khan told reporters while preparing for an eagerly anticipated fight scheduled to go 12 rounds at the T-Mobile Arena. "I'm a guy who's supposed to walk in and get beaten."But I'm not going to let that happen. It's about being disciplined. I can't lose focus. I haven't respected the guys who've hurt me (in the past). Knowing you can be hurt, your defence is sharper."This is a huge fight, as Canelo is a star in Mexico and America. I know I'm here as the underdog, but I'm ready to win and take this WBC belt back to my home in England."Khan (31-3, 19 knockouts) is a two-time former world champion and has oozed confidence in Las Vegas this week despite not having fought since his unanimous decision over American Chris Algieri nearly a year ago."I wouldn't have taken this fight if I didn't think I could take it," said the 29-year-old from Bolton. "I have trained for everything and worked on my speed and my power."A win against Canelo would be one of the biggest wins of my career because he is a superstar, especially on this Cinco de Mayo weekend in front of everyone."The fans will be very happy on Saturday night. I will be the new world champion. I think it will be difficult to knock Canelo out, but I know I can give him a boxing lesson."Former WBA and WBC super welterweight champion Alvarez, who lost both world titles on a majority decision to Mayweather, is a 5-1 favourite for an intriguing matchup that will pit the Mexican's power against the Englishman's speed."There is a difference between wanting and doing," said the 25-year-old from Guadalajara, who has an impressive record of 46-1-1, including 32 knockouts. "On Saturday night, we will see who will give who a boxing lesson."I know what Amir Khan brings. He is a very fast, very elusive, very tricky fighter, but I am confident with the work that's been done that I will be able to go in there and break this down."I'm training hard for 12 rounds, I'm ready to go all of those rounds," said Alvarez, who claimed the WBC middleweight crown with a unanimous decision over Miguel Cotto in November. "But if the knockout presents itself, I'm ready to take it."
 Rafael Nadal is convinced that none of his rivals are taking performance-enhancing drugs and believes that people who have accused him of doping have "personal problems".</strongThe Spaniard is suing former French cabinet minister Roselyne Bachelot after she alleged earlier this year that he had failed a drugs test. He used an interview with El Mundo published on Saturday to defend him and other top players.�I have total confidence that all my rivals are totally clean,� he said."I have no doubt about that, first of all because I believe in the anti-doping program and secondly because I believe in people until they show you otherwise.�The 14-times grand slam winner said that people who have accused him of doping are unhappy with their own lives, and do not like his style of play."They do it because evidently they have a personal problem and are unhappy with themselves, and then they look further, at the technical aspect, perhaps only because of my way of fighting for every point, my style of play, which I�ve had throughout my career."Former world number one Nadal, who will attempt to win a 10th French Open title this year, strenuously denies ever having taken performance-enhancing substances and has never failed a drug test.He is taking legal action against Bachelot after she said on French television in March that his seven-month absence from the Tour through injury in 2012 was "probably due to a positive doping test".Nadal said he had resisted the urge to take legal action against people who have accused him of doping in the past, but was compelled to act following Bachelot's comments.�When these things keep being repeated, and someone who is supposed to be in a serious position says something and people start to think that person has privileged information, then it is more serious,� he said.�When someone like that makes gratuitous and false comments with no information, there comes a time when you have to stop and you have to fight because of who you are and what you have been all your life.�Failed drug tests in elite tennis are rare but doping has been in the spotlight since former women's world number one Maria Sharapova announced in March she had returned a positive test for banned substance meldonium.
 Abdul Qadir has advised flamboyant Pakistan allrounder Shahid Afridi to say goodbye to cricket and slammed Umar Akmal, saying he lost his place in the national team because of his own mistakes.</strongQadir, known for his candid comments, said at a function in Lahore that Afridi had aged and was no longer fit for top level cricket."I don't think cricket is any longer the forte of Afridi and he should say goodbye," Qadir said.He also didn't mince any words on the exclusion of batsmen Ahmed Shehzad and his son-in-law Umar Akmal from the list of probables for the tour to England."To me Shehzad is simply more of an actor than a cricketer while Umar Akmal has lost his place in the team because of his own mistakes," he added.Umar, who is married to Qadir's daughter, has in recent months been at the centre of controversies raising questions over his commitment to the game.Qadir also slammed the culture of favoritism and nepotism in Pakistan sports. "This culture has destroyed the fabrics of our sports and particularly cricket. In every department in the Pakistan cricket board they are people who have been appointed because of favoritism and nepotism.Najam Sethi who heads the executive committee also came in because of the prime minister," Qadir said.He said the PCB was wasting its time searching for a foreign coach. "And if they still want to have a foreign coach I don't think there is a better choice than Sir Viv Richards who is also interested in Pakistan cricket."
 Germany football star Bastian Schweinsteiger (31) and his tennis ace girlfriend Ana Ivanovic (28) could well be expecting their first baby, according to reports emerging from Ivanovic�s home country, Serbia.</strongAccording to Serbian tabloid, Blic, Ivanovic is pregnant with Schweinsteiger�s child and the couple will tie the knot within a couple of months, Mid-Day reported on Sunday.Ivanovic and Manchester United�s Schweinsteiger were recently spotted out on a stroll Madrid, and contrary to their behaviour in public together before, where they have tried to hide their romance, this time, and the couple were very forthcoming in their PDA (public display of affection).�According to Blic, Anna was wearing a blue and white jumpsuit which �cover pregnant belly.�The tennis star�s loose outfit did seem like a misfit given her otherwise figure-hugging sports attire. To add to that, she wore a black overcoat, and frequently held the front of the coat close together with her hand to ensure her midriff was covered.Besides, Ivanovic who was ousted from the Madrid Open on Monday, took a medical break during her match, which is again being attributed to her possible pregnancy. Ivanovic and Schweinsteiger, have been in a relationship since September 2014, when they were photographed holding hands and strolling in New York on the sidelines of the US Open. Then, for Ivanovic�s 27th birthday in November the same year, Schweinsteiger flew into Serbia�s capital city, Belgrade, rather discreetly, to be with Ivanovic.The World Cup-winner has also been seen cheering for Ivanovic at the French Open and Wimbledon besides a host of other tournaments. He even proudly sports the Serbian national flag on his boots. The couple continues to refrain from speaking to the media about their personal life.
 South Africa�s Brad Binder won Sunday�s French Moto3 grand prix at Le Mans Bugatti circuit to extend his lead in the world championship title race.The KTM rider recorded successive wins after his debut triumph in Spain last time out by shading his Italian teammate Romano Fenati and Spanish Honda rider Jorge Navarro.The 20-year-old from Potchefstroom has a 24-point lead over Navarro and 35 on Fenati after this fifth leg of the season.Binder and Fenati fought for the lead over 24 laps with this pair joined by Navarro and Aron Canet in a four�way battle to the line.Binder�s success at Jerez de la Frontera, a fortnight ago, was the first for a South African in the world championship since Jon Ekerold in 1981.
 Amir Khan's gamble to win the world middleweight title by stepping up two weight divisions ended in the dust of the Mojave desert in defeat as he was brutally knocked out by WBC champion Saul Alvarez in the sixth round.The 29-year-old made a promising start, using his speed and a smart elusiveness as he appeared to build an early lead. However, Khan did not have enough power to trouble the Mexican who began to load up with his power shots from round four onwards.Two of the judges had Khan behind when he was felled by the long powerful right hand of the Mexican.This was Khan's fourth defeat in his 35th fight.�Alvarez moved to 47-1-1.Khan was taken to hospital for "precautionary measures" according to promoter Oscar De La Hoya, but tweeted from the ambulance that he was "ok"."I'm a natural 147 (pounds) fighter, but this challenge came and it was very hard to turn down," Khan said.�"I want to be the best, I want to fight the best and that's why I took this fight."I was unfortunate that I didn't make it to the end, but I tried my best and I want to say thank you for the support.�But I will probably go down to 147 now."Khan's British rival Kell Brook tweeted soon after the content that he was ready to defend his world welterweight title against Khan.
 Pakistan Super League (PSL) Chairman Najam Sethi wants PSL to be registered as an independent entity so as to cut down on hefty taxes paid by the Pakistan Cricket Board (PCB) and the franchises.</strongSethi, who is also head of the central executive committee PCB, made a bid to register PSL as an independent entity.Sethi took up the case with the finance ministry but the negotiations fell through the only concession was the overseas players getting a tax free salary.The idea is to make it a nonprofit (body) registering it as separate company to allow PCB to re invest the net profits into development of cricket, ESPN cricinfo quoted Sethi as saying.He said right now it is still in the pipeline and may not be an easy task.Although we sought seed money from the PCB budget for the first edition we will have our own budgets from next year.We thought it will be a PCB owned company but absolutely independent and whatever money PSL makes it will go down into development which will be exempted from tax he said.He said the PCB is considering the prospect of adding another team to PSL with the possibility of the sixth team being named Kashmir after the province of Azad Kashmir in Pakistan.However according to a contract signed between the PCB and the franchises the number of teams cannot be increased until the third edition.We will not have [a new team] until the third year that is written, Sethi confirmed.But at the same time we are looking at the financials about the addition of a sixth team in terms of whether it will be Kashmir Faisalabad Sialkot or Gilgit, Baltistan or any other team.We have to weigh up the pros and cons and without the franchises consent we can t make it.He said we have to offer guarantee to the teams that they will be better off by having a sixth team and have to convince them.I have my team working on different values and estimated profits andrevenues before pitching this idea to them but this idea is definitely under consideration.Basically the advice from our finance department is that this is the high time to add sixth team as the values are very high at this stage before the second edition.We have to cash in the hype we have created from the first edition, he said.
 A three match hockey series between former stars of Pakistan and Indian hockey teams that was scheduled to take place next week is likely to be delayed as some former Pakistan Olympians and internationals could not get UK visa in time.</strongAccording to foreign news agency the three matches were due to be played on May 13 14 and 15 with the Berkshire Hockey Club the host.Pakistan junior hockey team�s head coach and former Olympian Tahir Zaman who was part of Pakistan team for this series told APP that some Pakistan players could not get UK visas in time and now the series might take place at some later dates.The UK club has planned this series on the eve of laying of a new Astroturf at its hockey stadium.Though we have not been officially told by the club about the postponement of the series it is unlikely to take place in next week due to visa issues, Tahir Zaman said.He said around 18 Pakistan erstwhile players were scheduled together in the United Kingdom for the series which was aimed at promoting peace respect and hockey.Meanwhile Indian media also reported on Sunday that Hockey India had asked its former players not to apply for visas until they get approval letters from the hosts and English Hockey Association.The rules state that the affiliated clubs have to get permission from the national body for events involving foreign teams and players, the Indian media reported while quoting a source from Hockey India.
 Former pacer Shoaib Akhtar Monday said that though he had faced many controversies in his entire cricket career but he had never thought of being dishonest with the game.</strongAccording to Geo News Shoaib Akhtar also known as the Rawalpindi Express said the maximum number of audience encourage him and make him happy.Shoaib who made his test debut in November 1997 as an opening fast bowler said that his hard work was known to him and his mother only.Responding to a question Shoaib said that players who were playing today were much enthusiastic but they lack the vision.Speaking about the Pakistan Super League (PSL) he said PSL was a good event from which players had earned money.The ex players are unhappy for no reason he said.He also praised the new Pakistan head coach Mickey Arthur.Shoaib has been involved in several controversies he was sent home during a Test match series in Australia in 2005 for alleged poor attitude.A year later he was embroiled in a drug scandal after testing positive for the performance enhancing substance.However the ban imposed on him was lifted on appeal.In September 2007 he was banned for an indefinite period for his fight with fast bowler Mohammad Asif.On April 1 2008 Shoaib was banned for five years for publicly criticizing the Pakistan Cricket Board.In October 2008 the Lahore High Court suspended the five year ban and Shoaib was selected in the 15 man squad for the Twenty20Quadrangular Tournament in Canada.Shoaib Akhtar retired from international cricket after the 2011 World Cup.
strong>The Court of Arbitration for Sport on Monday reduced suspended UEFA President Michel Platini's six-year ban from soccer for ethics violations to four years, saying the original punishment from FIFA was too severe.</strongThe Frenchman, one of the finest players of his generation and also a former coach of his country's national side, had said he recognized that his long, illustrious career in the game would be over if he lost an appeal over the ban.
strong>World number one Novak Djokovic beat defending champion Andy Murray 6-2 3-6 6-3 in the Madrid Open final on Sunday to capture a record 29th Masters crown.</strongThe Serb collected his fifth title of 2016 after winning the Qatar Open, Indian Wells, Miami Open and Australian Open, in which he also defeated Murray in the final.The Scot, who also lost second place in the world rankings to Roger Federer, knocked out crowd favourite Rafael Nadal in the semi-finals but Djokovic proved a more formidable opponent, breaking him three times in the opening set.Murray hit back in the second but had no answer in the third as Djokovic repeated his 2011 Madrid Open triumph."I started very well and played terrific tennis in the first set," said Djokovic."There were a couple of close games in the second set ... and I made some unforced errors and double faults in the game when I dropped my serve. So I fought...very hard."Djokovic also collected his 64th career title, equalling tennis greats Pete Sampras and Bjorn Borg."It's obviously very flattering to be alongside such legends of the sport, players that I looked up to, especially Pete Sampras," he said."When I was growing up he was ruling the tennis world. To win as many titles as he did in his career, it's quite amazing."Murray said his opponent played the better tennis."Novak has had a lot of wins against me in the last couple of years unfortunately but he has done some great things and also deserved this win," the Scot added."At the end he came up with some big serves and got himself some free points and did well. That's why he's number one just now."
 India, a country notoriously slow to adopt new ideas, has now embraced the concept of day-night test matches and it will surely not be long before twilight five-day games are a regular feature on the sub-continent.</strongIndia and Pakistan are set to play floodlit tests this year while Sri Lanka and Bangladesh are considering following suit pending the results of domestic trials.India�s all powerful board of control, the BCCI, has traditionally been suspicious of anything new and ensured the world�s second most populous nation was the last of the major cricketing powers to embrace the Twenty20 format of the game.That embrace has quickly turned into a passionate love affair courtesy of the Indian Premier League (IPL) but the BCCI is still resisting the Decision Review System (DRS) with all its considerable might.It insists it will not accept the technology, which is aimed at reducing umpiring howlers, until it is foolproof.As a result DRS are not used in any bilateral series involving India.The commercial prospects of day-night tests, however, have not been lost on the world�s richest cricket board and it announced last month it would host a floodlit test against New Zealand when the Black Caps tour later this year.BCCI secretary Anurag Thakur said the controversial pink ball used in such contests would be trialled in the domestic Duleep Trophy to help captain Virat Kohli and his team prepare for the day-nighter."There are lots of factors that need to be taken into account.Things like dew factor, how the spinners bowl with the pink Kookaburra (ball) on Indian pitches," Thakur said.The dates and venues of the series against New Zealand have yet to be confirmed but Kolkata�s Eden Gardens has been put forward as a possible venue by Cricket Association of Bengal president and former India captain Sourav Ganguly."We want to play host to a pink-ball test in the future," said Ganguly."We will try to host a local four-day match with the pink ball under the floodlights as a test."Turnout for test matches in India generally lags far behind the full houses that can be expected for one-day internationals and some IPL fixtures.Even those in the BCCI suspicious of change, therefore, were enthused by what they saw at Adelaide Oval last November when Australia and New Zealand played out the first floodlit test.strong>PICTURESQUE GROUND</strongThe match only lasted only three days, hence the controversy over the pink ball, but attracted more than 123,000 fans through the gates at the picturesque ground as the hosts clinched the trans-Tasman series.The Adelaide turnout looked even more impressive at a time when the game�s longest format is grappling with dwindling crowds amid the many burgeoning Twenty20 leagues springing up across the cricketing globe.Even Sri Lanka, who turned down Pakistan�s proposal to play a day-night test in 2013 citing their inexperience with the pink ball, are now considering the option."We are looking at it very positively," Sri Lanka Cricket secretary Mohan de Silva told Reuters."We are gearing ourselves for the eventuality.The ICC (International Cricket Council) has cleared it and (at some point), we�d also fall in line."The ICC approved day-night tests in 2012 after successful trials of pink balls in Australia, England, Pakistan and South Africa.Pakistan will play a day-night test in Australia in December and might play one before that, against West Indies in October, provided the Caribbean nations agree to the proposal.Another Asian team, Bangladesh, are being a little more cautious about dipping their toes into the water.New Zealand have proposed hosting a day-nighters when Bangladesh visit the country in December and England want to play a twilight test during their tour of the South Asian country in October-November, a Bangladesh Cricket Board (BCB) official told Reuters."We have not decided on either of the proposals yet," BCB media and communication committee chairman Mohammed Jalal Yunus said."We trialled the pink ball here but there were some issues regarding the shine and durability.We need to address those issues before taking a decision.
 Bangladesh lifted a ban on disgraced fast bowler Shahadat Hossain Tuesday allowing him to play domestic matches weeks after he apologised for torturing an 11 year old girl he employed as a maid.</strongHossain was banned from all forms of cricket last year by the Bangladesh Cricket Board after he became a subject of investigation for alleged criminal offence which drew huge media interest.The BCB said Hossain was now free to play domestic cricket including the lucrative Bangladesh Premier League (BPL) after he made an emotional appeal seeking a return to cricket.He however will not be considered for national team selection until his legal issues are settled BCB chief executive Nizamuddin Chowdhury said adding the ban was lifted on humanitarian considerations.Hossain who has denied abusing the girl in the past apologised on April 28 for what he called his misdeed and said he had made a mistake.I regret the unwarranted incident I was involved in and apologise to the whole nation the cricketer said in an emotional statement.Bangladeshi police charged the 29 year old pacer and his wife Nritto Shahadat with charges of assault and torture last year after the young girl was found crying on a roadside her eyes bruised and swollen.The couple went into hiding after police raided their house in September when the girl complained that they had beaten and tortured her.Television footage showed her frail and thin looking appearance and police said one of her hands had been burnt with a hot cooking paddle.Hossain spent two months in custody after he handed himself in to police on October 5 and has since been released on bail as was his wife.A judge has ordered that the couple would face trial and if convicted they would face up to 14 years in jail.But a source said the couple and the girl s family may agree to a financial settlement that would see her withdrawing the allegations.
 Shashank Manohar resigned on Tuesday as president of the Indian cricket board, reports and a senior source within the organisation said.�I hereby tender my resignation with immediate effect as BCCI President.,� Manohar wrote in a letter to the board secretary Anurag Thakur, according to a transcript obtained by the NDTV network.A senior official with the Board of Control for Cricket in India (BCCI) speaking on condition of anonymity confirmed to AFP that Manohar had resigned but gave no further details.Indian newspapers have been reporting for several days that Manohar would resign his post at the BCCI in order to stand for re-election as head of the International Cricket Council.
 The inaugural edition of Hascol National Ranking Tennis Championships will be played from May 15 to 21 at the Dilawar Abbas PTF Complex in Islamabad.The tournament carries a prize purse of Rs 500,000 and has been categorized as Grade-A event.Events to be contested are in the tournament are men�s singles, ladies singles, juniors 18 singles, boys 14 and Under singles, boys and girls 10 and under singles, and men�s doubles.All the out-station main draw junior players will be entitled to return economy class railway fare, and all out station main draw players will also get Rs. 700 per day as daily allowance until elimination.Country�s top players have already confirmed their participations.Interested players could send entries to Shahzad Akhtar Alvi, office secretary, Pakistan Tennis Federation (PTF) at Dilawar Abbas PTF Tennis Complex or could email at <a class="__cf_email__" data-cfemail="cbbba0bfaea5adaeaf8ba8a4a6b8aabfb8e5a5aebfe5bba0e5" href="/cdn-cgi/l/email-protection">[email�protected]</a><script data-cfhash="f9e31" type="text/javascript">/* <![CDATA[ */!function(t,e,r,n,c,a,p){try{t=document.currentScript||function(){for(t=document.getElementsByTagName('script'),e=t.length;e--;)if(t[e].getAttribute('data-cfhash'))return t[e]}();if(t&&(c=t.previousSibling)){p=t.parentNode;if(a=c.getAttribute('data-cfemail')){for(e='',r='0x'+a.substr(0,2)|0,n=2;a.length-n;n+=2)e+='%'+('0'+('0x'+a.substr(n,2)^r).toString(16)).slice(-2);p.replaceChild(document.createTextNode(decodeURIComponent(e)),c)}p.removeChild(t)}}catch(u){}}()/* ]]> */</script
 How Russia Makes Its Winners" that led to the establishment of a WADA independent commission last year.
 Australia�s cricket board will make it compulsory for players to wear helmets when facing fast and medium-paced bowling in line with recommendations from a review into the death of Test batsman Phillip Hughes.Wicketkeepers and players fielding close to the wicket will also have to wear helmets in first class matches in accordance with the David Curtain review, which was released on Wednesday.The helmets, mandatory in games and during practice, must adhere to the highest British standard, Cricket Australia (CA) said.Hughes was struck on the back of the head by a rising delivery when batting for South Australia in a domestic match in November 2014.He died two days later in a Sydney hospital aged 25."There�s not a day that goes by where we don�t think of Phillip," CA boss James Sutherland told reporters at the Melbourne Cricket Ground on Wednesday."This report won�t bring him back and it won�t do anything to ease the pain of his family or his loved ones who miss him most."But we have a responsibility and a duty to ensure nothing like this ever happens again."Hughes�s death shocked the cricketing world and ignited a debate about safety standards, particularly for batsmen, who face fast bowling that can exceed 150 kilometres per hour (93 mph).Hughes was wearing an Australian standard helmet when he was struck but the Curtain report said even the newer British standard helmet available at the time would not have afforded him extra protection from the blow.The report also said an apparent delay in the arrival of the ambulance team that treated Hughes played no part in his death."I am of the opinion the attention received by Phillip after being struck had no role whatsoever on his subsequent demise, due to the nature and severity of his injury," it said.The report also recommended wicketkeepers play with protective eye-wear but stopped short of endorsing the clip-on neck guards on the back of helmets, which some players have worn after Hughes�s death.Sutherland said CA still encouraged players to wear the guards but conceded, like the report, that more research was required to determine whether they actually increased safety."We�re certainly taking up the running on that to make sure we understand it better," he said.Sutherland said the board had also sought approval from the International Cricket Council to trial the use of injury substitutes who could bat and bowl in domestic games.Substitutes have been permitted to replace injured or ill players in matches for over 100 years but are not allowed to bat, bowl or act as wicketkeepers or captains, according to the laws of the game.Initially the substitutes would replace players ruled out by concussion but in future their use could be expanded to include other forms of injury, Sutherland added.
 While hosts France will be bidding to reach the final for the first time in the event�s 37-year history, European rivals England - winners of the championship two years ago in Canada - will be striving to defend their title at the 2016 WSF Women�s World Team Squash Championship, which will be staged in the suburb of Issy-les-Moulineaux and the French capital Paris from November 28 to December 3.Nineteen nations will compete in the biennial World Squash Federation event, hosted by the F�d�ration Fran�aise de Squash, which will take place at the historic Jeu De Paume and St Cloud Squash clubs, with final stages being held on an all-glass court at the Palais Des Sports Robert Charpentier.Competing in the championship will be Australia, Austria, Canada, Egypt, England, France, Germany, Hong Kong (China), India, Japan, Malaysia, Mexico, Netherlands, New Zealand, South Africa, Spain, Switzerland, USA and Wales.<br/> <br/> Currently boasting four players in the world top ten - led by the new world number one and World Champion Nour El-Sherbini - Egypt are likely to be seeded to reclaim the title they won for the second time in 2012, when the event was last held in France.
 Tony Cozier, the West Indian cricket writer, commentator and journalist, has died in his home country, Barbados, at the age of 75 after an illness. He had been admitted to hospital on May 3 for tests related to infections in the neck and legs.Cozier began writing on cricket as a teenager in 1958 and, despite never having played the game, he became one of its most distinguished voices. His last column on these pages was published on May 1."Deeply saddened to hear of the passing of Tony Cozier today," the ICC said on Twitter. "One of the truly great voices of cricket. A huge loss for the cricket community."Cozier, whose father Jimmy was also a cricket writer, began his commentary career during Australia�s tour of West Indies in 1965. Over five decades, Cozier grew into an accomplished media professional across mediums all over the world. He worked in radio and television, wrote books, and was published in newspapers, magazines and on the internet.He edited the West Indies Cricket Annual between 1970 and 1991, and in 1978 wrote the acclaimed book, The West Indies: 50 Years of Test Cricket. In 2011, the MCC awarded Cozier life membership for his services to the game.It was estimated that Cozier was among the most prolific watchers of Test cricket anywhere. Wisden in 2003 reported that he had watched 266 Tests in his 40-odd years of covering the game up to that point.�
 Elderly batsmen Misbah ul Haq and Younis Khan are set to be the fittest players as they have topped the fitness tests set by the Pakistan Cricket Board (PCB) to match the players strength according to the international standards.</strongTalking to APP a PCB official said Test captain Misbah (41) and senior batsman Younis Khan (38) are the fittest players in the test despite their age.The Pakistan cricket team fitness trainer Grant Luden had set up a points system for the fitness tests (17 set as the target) which both of them have achieved, he said.Younis attainted 18 points while Misbah�s report is yet to come but he has cleared the test with an edge.He said some players who could not reach the level include T20 captain Sarfraz Ahmed, Umar Akmal, Sohaib Maqsood, spinners Saeed Ajmal and Zulfiqar Babar.They failed to attain the required points in the different fitness tests.He further said that the players who will pass the test will be rewarded in some way financially while the ones who fail would be given a time frame to achieve the given fitness target.If the ones who fail would not achieve the given fitness test in the given time frame then they will be fined, he added.He also rubbished all reports that some players had complained that standards were kept lenient while taking tests of players including ODI captain Azhar Ali and pacer Wahab Riaz.This did not happen. However the players who had failed the tests must have been bluffing around, he said.Shahid Afridi, Muhammad Hafeez, Haris Sohail and Imad Wasim could not appear in the tests due to some injuries.The official said a 15 day camp of the players for preparation of the series against England in July will be held in Abbotabad from May 15. PCB has also employed Asad Rizvi (nutritionist and sportspsychologist) to hold counseling sessions with the players.
 Long�serving England women�s captain Charlotte Edwards announced her retirement on Wednesday after a sparkling and pioneering 20-year career.The 36-year-old led her country to glory in the Ashes World Cup and ICC World Twenty20, winning a world�record 309 caps and scoring over 10,000 runs across the formats.�Everyone who knows me � and how much I love playing for England will appreciate what a difficult decision it has been for me to retire from international cricket, she said in a statement.�It�s a decision I�ve reached after much thought and detailed discussion with (England coach) Mark Robinson and (director of England women�s cricket) Clare Connor about what is best for the team going forward.�I have given 20 years to playing for England and I leave very proud of the standing in which the women s game is held and of my contribution as a player and captain.
 While visas of other Pakistan cricketers for the all important England tour have been processed the Pakistan Cricket Board (PCB) has yet to apply for the same for left arm pacer Muhammad Amir.</strongPakistan will play four Tests five one day internationals and one T20 during the England tour that starts in July.We have not applied for his (Amir�s) visa yet as we are well aware of strict immigration laws of UK.However the board is in touch with England and Wales Cricket Board (EWCB) and British High Commission and discussing his issue with them, a source in PCB told APP on Wednesday.The source said the PCB chief Shaharyar Khan along with other top officials had held meeting with board�s legal advisors and discussed the matter pertaining to Amir�s visa.The board avoided to process Amir�s visa along with other players as before applying for that it wants to get a go ahead from British High Commission and EWCB with whom negotiations are already underway.His visa documentation is ready but the board will file a separate case for his visa he said.Amir along with fellow pacer Mohammad Asif and captain Salman Butt was found involved in spot fixing during the fourth test against England at Lords in August 2010. Besides serving their respective terms in UK the trio has completed bans imposed by the International Cricket Council (ICC).At the time of spot fixing Amir was a juvenile. This can give him benefit and we may succeed in getting relaxation for him. He is a highly talented bowler. The world wants to see him in action. It is our utmost effort that he should travel with the team, the source added.�
 FIFA unveiled the timetable of its delayed bidding process for the 2026 World Cup on Tuesday, with president Gianni Infantino's plans for a 40-team tournament to be decided upon by October and a final decision on the hosts to be made in May 2020.</strongFootball's world governing body said it would consider giving the green light to joint bids and review a rule which currently allows a continent to stage the tournament every eight years.A FIFA source said they had considered increasing this wait period to 12 years or more and that there had been no discussions about allowing a continent to host successive World Cups.This could mean that with Russia hosting the 2018 World Cup, Europe would have to wait until at least 2030 before staging the tournament again.The decisions were among the first passed by the new-look FIFA Council, which was holding its maiden meeting since it replaced the old executive committee under reforms passed in February.The Council, which has a strategic role, ruled that bidding nations would have to meet requirements on human rights, sustainable event management and environmental protection. Bidders who did not meet "technical requirements" would be excluded, it said.Infantino was elected as FIFA president in February when one of his main promises was to increase the number of teams in the finals from 32 to 40, a proposal which is strongly opposed by Europe's biggest clubs.FIFA said that decisions were expected by October on the number of teams, the format for the tournament, the "eligibility of (continental) confederations to bid" and whether to allow joint bids.Joint bids were banned in 2011 but Infantino has said he wants to encourage them, possibly spreading the tournament around several countries in a region.strong>CRIMINAL INVESTIGATION</strongFIFA said that a "consultation process", outlining new standards for bidders, would run until May 2017, followed by a preparation phase running until December 2018 when countries would have to submit their bids.The bids would be evaluated from January 2019 to February 2020 with a final decision three months later.FIFA was forced to reform its bidding process after the vote in December 2010 awarded the 2018 and 2022 tournaments to Russia and Qatar respectively.That vote is the subject of a criminal investigation by Swiss authorities, while Qatar's preparations have also been marred by allegations of abuse of migrant workers in the construction industry. Qatar says it is working to solve the issue.Under revised statutes, the hosts will be chosen by the 209 members of FIFA at its annual Congress. The Council, however, will still draw up a shortlist of three candidates. Previously, hosting rights were decided by the old executive committee.FIFA said that Gibraltar and Kosovo's applications for membership would be submitted to the Congress on Friday and that both would be allowed to take part in the 2018 World Cup qualifying competition if accepted.Benin was suspended with immediate effect due to legal interference in the country's football federation. A decision not to suspend Greece was ratified by the Council.FIFA Council member Fernando Sarney praised Infantino's leadership on Tuesday."Things are getting calmer in FIFA," the Brazilian representative told reporters."Gianni is talking about football, he is travelling around, talking to people and trying to put football back into our conversations because before we talked about everything apart from football."
 Phillip Hughes would not have been sufficiently protected from the ball that struck and killed him during a cricket match 18 months ago even if he had been wearing the highest-standard helmet, a report into the Australian�s death said on Wednesday.</strongHughes was struck on the back of the head by a rising delivery when batting for South Australia in a Sheffield Shield game at the Sydney Cricket Ground in November 2014.He died two days later in a Sydney hospital at the age of 25."The helmet was compliant with an Australian standard, which has since been withdrawn, but was not compliant with the more recent British standard," the report, led by barrister David Curtain, said."In any event ... I do not believe the new helmet would have afforded additional protection against the blow given the location of where Phillip was struck, as the protection to the neck, at the rear, is no different."The report also said the slow arrival of the ambulance that provided medical treatment to the test cricketer played no part in his death."Although there was apparently a delay in the ambulance arriving, Phillip was being cared for appropriately in the interim," it added."I am of the opinion the attention received by Phillip after being struck had no role whatsoever on his subsequent demise, due to the nature and severity of his injury."Hughes�s death shocked the cricketing world and ignited a debate about safety standards, particularly for batsmen, who can face fast bowling that exceeds 150 kilometres per hour (93 mph).The report recommended that all first class cricketers should be required to wear the highest British standard (BS 7928:2013) helmets available when batting against fast and medium pace bowling in matches and during practice.It also recommended wicketkeepers keeping up to the stumps should wear helmets and protective eye-wear. Players fielding close to the stumps, excluding slips fieldsmen, should also wear helmets, the report said.The report noted that more international players had adopted the use of stem guards, which are attached across the back of the helmet, as "they see it providing additional safety"."I would recommend that this device be properly evaluated for functionality and comfort as well as to determine if it materially increases player safety, before making any recommendation as to its use," it said.Cricket Australia (CA) said it had received the Curtain review last year and would enact new safety measures.<br/>"The global cricket community was deeply saddened by the tragic death of Phillip Hughes and the great loss his family suffered," CA CEO James Sutherland said."We have been considering (Curtain�s) recommendations and discussing with relevant bodies as to how we best make changes necessary to prevent an accident of this nature happening again."While there will always be a small risk we believe that the measures we have already taken and will enact following this review will reduce that risk even further.
 Uncapped duo Jake Ball and James Vince have been named in England�s squad for their home Test against Sri Lanka at Headingley on May 19, the England and Wales Cricket Board (ECB) announced on Thursday.Nottinghamshire paceman Ball and Hampshire batsman Vince are the two new faces in the 12-man squad, with the selectors sticking largely with the same side that won in South Africa over the winter.Vince comes into the team in place of the retired James Taylor, while Ball is the joint-leading wicket-taker in Division One this season with 19 wickets."Both Jake Ball and James Vince thoroughly deserve their opportunity having performed well with the England Lions and starting the season in good form with their respective counties," national selector James Whitaker said in a statement."Sri Lanka are a young side and we expect a strong series between the two teams to start the summer of international cricket."England will play three Tests against Sri Lanka, followed by an ODI series.England Test squad: Alastair Cook (captain), Moeen Ali, James Anderson, Jonny Bairstow, Jake Ball, Stuart Broad, Nick Compton, Steven Finn, Alex Hales, Joe Root, Ben Stokes, James Vince�
 Pakistani opener Sharjeel Khan has claimed that he had received a threatening call from unidentified persons, who demanded extortion of Rs200,000.</strongIn a video message on twitter, Sharjeel said, �I have been receiving threat calls from unidentified persons for many days. They are demanding extortion.�He said the callers have also threatened him to upload his fake videos on social media. dir="ltr" lang="und"><a href="https://t.co/ggo3qd58vU">pic.twitter.com/ggo3qd58vU</aAccording to media reports, the extortionists have demanded Rs200,000 from Sharjeel and he received call 10 days back.Cricketer�s father has also confirmed threat call to his son, saying Sharjeel received telephone a few days back.Sharjeel Khan said, �I will apprise the law enforcers about the threat. Someone trying to malign me.�Meanwhile, Pakistan Cricket Board (PCB) has stated that Sharjeel had yet to contact the cricket board, however, department concerned has been directed to look into the matter over media reports.
 India�s Shashank Manohar has been elected unopposed as the first independent chairman of the International Cricket Council (ICC), the game�s governing body said on Thursday.</strongUnder reforms Manohar himself initiated within the ICC, the new chairman must be an independent candidate with no formal links to any other country.An administrator with a clean image, Manohar resigned as the chief of the powerful Indian cricket board (BCCI) on Tuesday and commenced his two-year term at ICC with immediate effect.
strong>Sri Lanka wicketkeeper Kusal Perera has had all anti-doping charges brought against him dropped by the International Cricket Council (ICC) after the Qatar-based laboratory that conducted the test withdrew its initial finding.</strongPerera was sent home from Sri Lanka's tour of New Zealand in December after it was announced he had failed a test during the series against Pakistan in the United Arab Emirates last July.He had faced a four-year ban from cricket."We wish to make it clear that there is no evidence that Mr Perera has ever used performance-enhancing substances and we wish him well in his future cricketing endeavours," ICC chief executive Dave Richardson said in a statement.Sri Lanka are currently in England preparing for the first match of their three-test series in Leeds next week.Richardson said cricket's governing body would talk to the World Anti-Doping Agency (WADA), which had accredited the laboratory, about the case."Whilst I am confident that this is an isolated incident in respect of tests commissioned by the ICC, we are seeking an urgent explanation from WADA and the laboratory in an attempt to understand what has transpired and what will be done to ensure it does not happen again," Richardson said.
 Former India captain Rahul Dravid and ex-Sri Lanka captain Mahela Jayawardena have been appointed to the ICC Cricket Committee.Dravid and Jayawardena have played 1,161 international matches between them from 1996 to 2015, and each has been appointed for a three-year term. They will attend their first meeting at Lord�s on May 31 and June 1, three weeks before the ICC Annual Conference takes place in Edinburgh, Scotland.Dravid, along with former Australia off-spinner and ex-Chief Executive of Federation of International Cricketers� Association (FICA), Tim May, have been elected by the current Test captains as current player representatives, replacing former Sri Lanka captain Kumar Sangakkara, who has completed his final three-year term, and Laxman Sivaramakrishnan, who has completed his three-year term.Jayawardena has been appointed as a past player representative and takes over from former Australia captain Mark Taylor, who has also completed his final three-year term.Richard Kettleborough, three-time ICC Umpire of the Year, has been appointed as umpires� representative in the committee and replaces Steve Davis, who retired last year.<br/> <br/> Meanwhile, Anil Kumble has been re-appointed as the Chairman of the ICC Cricket Committee for a three-year term. The former India captain was appointed as the Chair in 2012 and will now continue to head the group until 2018.The ICC Cricket Committee is representative of all stakeholders in the modern game, including players, umpires and the media. It is empowered to make recommendations on cricket playing issues to the Chief Executives� Committee (CEC) and, if the matter is a policy matter, the ICC Board for approval.
 Sweat drips from Arafat Abkar�s brow as she dodges blows in an open-air arena in Khartoum�s searing summer heat. Wearing only shorts and a t-shirt, the 22-year-old draws crowds in a country where Muslim mores mean women�s boxing is a rare spectacle."When I train, more spectators watch because women�s boxing is new and unfamiliar in Sudan," Abkar said proudly at the private Nile Club in the south of the city.Sudan is ruled by Islamic law, which requires women to dress modestly. Most families are not so supportive and another girl at the club said she boxed in secret as her family would object to her taking part in what they see as a man�s sport.Women�s boxing was unheard of in Sudan until four years ago, when Sahar Mohamed took up the sport and represented her country at the All Africa Games last year. She was defeated on points in the Middleweight category by Yannick Azangue of Cameroon.Since then, the Sudan Amateur Boxing Federation has sought to encourage women to join the sport despite social challenges."Four years ago, I was the first Sudanese girl to box and I faced big pressures from my family and people but I�ll continue as this is my life�s dream," said Mohamed at a state-run youth centre in Khartoum, where she trains.Nearby, two women were training alongside men, shouting as they jumped from foot to foot and punched each other with worn gloves. The equipment is worn and basic, but the centre is busy, the atmosphere buzzing with young people practicing everything from martial arts to soccer."People watch satellite channels and look on the internet and that has changed the culture and given new courage to women in the past few years to pick up boxing gloves," Mohamed Yousef, head of the Sudanese national boxing team, said."The Sudan Boxing Federation asked us put more emphasis on girls to encourage them to continue in the sport. "Ali al-Aqraa, 78, a retired Sudanese boxing champion and the first to begin training women said a lack of funds, not<br/> enthusiasm, was the biggest hurdle.Abkar was Sudan�s weight-lifting champion and represented her country abroad before taking up boxing last year. She is one of four women on the boxing team at the Nile Club, where she trains three times a week."What pushed me to box was watching American champion Laila Ali," she said, referring to the daughter of boxing legend Muhammad Ali. "As I train night and day her image is in my mind. I hope to become a world champion like her."�
 Pakistan's newly appointed coach Mickey Arthur feels that dearth of international cricket at home has damaged Pakistan cricket and termed it as one of the reasons behind Pakistan�s decline in the game.The former Australia and South Africa coach said that Pakistani batsmen will have to play an important role to achieve results for the team.�Pakistan is playing all the cricket outside the country. Every time they play it is an away series which is really hard. It is always difficult playing outside your condition and it has dented Pakistan cricket�, in an exclusive interview with a private news channel Arthur said.The South African-born coach said that he picked up the role of coaching Pakistan team considering it as a big challenge and that he was looking forward to deliver results but demanded consistency in team decisions for any positive outcome.�I think it�s a great challenge. Pakistan cricket has struggled a little bit in the last couple of years and certainly I am keen to bring it back to its rightful place in the ranking and the rightful place in world cricket�, he said.Talking about his first assignment with Pakistan team, the tour of England, Arthur said that the series will be a big challenge for the players and key will be to learn how to perform outside the United Arab Emirates, where Pakistan has been playing most of its cricket recently.�Pakistan has got a wonderful group of bowlers. We need to work on batting, particularly outside the UAE, and that will be key. Also we need to bring the fielding up to standards of international level,� he added.�It will be a challenge for players that how they are going to handle the conditions outside the UAE and Pakistan. You need your batsmen to step up and score runs.<br/> So technically we need to work really hard to get our batting 100 percent right�, said 47-year-old former cricketer.During Arthur�s coaching stint, South Africa reached the top in all the three formats.Arthur said he is confident that Pakistan can also achieve the top position but warned that it can be achieved only if there is consistency in team decisions.<br/> �You need opportunity and time to build the team in order to achieve the result.<br/> We need to be consistent with our selections, we need to be consistent with our players and we need to allow players to express themselves without any consequences.�That�s the key, players need to find out how they go about and play in certain situations. I hope we can give the players that experience and make sure they go forward�, he said.Arthur said he did not feel any language barrier while working with Pakistani players during the Pakistan Super League earlier this year, where he coached the team Karachi Kings but added that he would still look to have a local coach as his assistant so that his message is not lost in translation.�I will have a local coach as my assistant who can deliver my message to the guys.<br/> That is quite important. But language barrier wasn�t a problem in PSL and I hope it won�t be a problem while coaching Pakistan as well�, he said.Sharing his PSL experience Arthur said that his experience of working with Pakistani players was excellent as they pose immense talent.�I was very impressed with the talent in the PSL. There were very good young and useful players. I think with the right guidance and environment, these guys can become very very good players.Their skill level is very high�, he said.Arthur, who is currently in Perth, said he will join the Pakistan team by the end of this month.�
 Germany�s Andre Greipel powered to victory on the fifth stage of the Giro d Italia on Wednesday a bunch sprint finish that left Dutchman Tom Dumoulin in the race leader�s pink jersey.On the second day back in Italy following three opening stages in Holland Lotto sprinter Greipel had been looking to redress the balance after seeing compatriot and sprint rival Marcel Kittel (Etixx) claim two consecutive stage wins.But after a ferocious sprint to the finish of the 233km stage from Praia a Mare in Calabria Greipel known as the Gorilla for his impressive physique followed his victory roar by crumbling on the roadside as he tried to recover from his efforts.Arnaud Demare the French winner of Milan�SanRemo in March finished a distant second for FDJ with Italian Sonny Colbrelli claiming third place for Bardiani.Dumoulin who races for Giant took the pink jersey after his time�trial win on the opening stage and reclaimed it on Tuesday when he finished second behind Lampre s Diego Ulissi on stage four.The Dutchman will wear it going into Thursday s sixth stage one of several in the medium mountains that should see the sprinters dropping to the back of the pack.
 The upcoming tri series between the West Indies, South Africa and Australia will be the first series in history to see all matches played under floodlights, the West Indies Cricket Board (WICB) announced on Saturday.</strongAll 10 of the one day internationals will be day night affairs with the first match on June 3.This is a major series with three very attractive teams featuring some of the world�s best players, WICB Operations manager Roland Holder said.They are accustomed to playing under lights all over the world so we look forward to some very entertaining cricket.We looked at ways to enhance the appeal and the spectator experience and it is accepted that fans like the day night matches.International cricket will return to Guyana for the first time in two years to coincide with the country�s 50th anniversary of independence for the opening fixtures.After three matches in St Kitts the last group games and the final will be held at the Kensington Oval Barbados.The announcement comes at a time when South Africa has raised concerns about Australia�s proposal to play a Test match on their tour this summer under lights.
 A few steps from the entrance to Mexico City's imposing Presidente Hotel, where FIFA delegates are staying during this week's Congrees, a boy of around 10-years-old sells tamarind balls covered in chili powder from a cart for 10 Mexican pesos ($0.55) each.</strongThe spicy, tangy sweets are a local specialty yet are unlikely to have been tasted by the FIFA delegates. The guests of world soccer are more likely to be inside sipping lattes for eight times the price.FIFA has often been known for lavishing a five-star lifestyle on its delegates and officials. When former president Sepp Blatter went to an event in Zurich with the city's mayor, he arrived in a chauffeur-driven limousine while the politician came and went by tram.But after Gianni Infantino was elected president of soccer's scandal-plagued body in February, one of his first pledges was to make FIFA more humble, suggesting, among other things, that federation officials no longer wore suits to matches.The early signs were promising as he flew to Britain for his first official engagement by a budget airline rather than the private plane favoured by his predecessor.But this week's Congress in Mexico City has looked as extravagant as any held under Blatter.FIFA confirmed that it paid all the expenses for each of its 209 member associations to bring a three-man delegation, flying business class and staying in five-star accommodation. Each delegate was also given $1,000 in spending money.LEAVE THE BUBBLERooms at the Presidente are booked for about $400 a night. Members of the FIFA Council, the world governing body's board, are staying at the plusher Four Seasons hotel where rooms typically cost $675 a night, according to hotel booking websites.FIFA sources told Reuters that efforts were being made to persuade delegates to leave their bubble but having them walk a few hundred yards took some effort.Some were seen walking the 500 metres from their hotel to Thursday's opening ceremony at the city's 10,000-seat National Auditorium, considered one of the world's best entertainment venues.It was seen by FIFA as a step, albeit it a small one, in the right direction, although others insisted on taking a luxury bus.The night before, FIFA seemed as detached as ever when their so-called Legends team of former international footballers took part in an exhibition match at Mexico City's historic Azteca stadium.FIFA billed it as a "football fiesta" and said it was "engaging more with the football world and getting football back to the heart of FIFA,� It was closed to the public.It was witnessed only by specially invited guests who spent most of the evening in a tent built onto the pitch, where they were pampered with wine, champagne and canapes, while traditional Mexican dances were performed on a stage.Privately, FIFA sources said the event had been hastily arranged and had not been what they intended.Infantino, who has vowed to cut costs, was somewhat vague when asked about it at a media conference on Friday, though he said it was something FIFA could look into."I think it's always been the case that they are paid $1,000 as a fee for the delegates, it's part of the budget approved by the finance committee," he said."It's good that it's been raised and we might have a look at it."
 Indonesia's suspension from international soccer for government interference in the country's football federation has ended after almost a year, FIFA President Gianni Infantino said on Friday.</strongHowever, the FIFA Congress confirmed the existing suspensions for Kuwait and Benin over government interference in their football associations.Infantino told delegates the decision on Indonesia, one of Asia's biggest soccer markets, was taken by the FIFA Council after the government agreed to lift a decree considered to constitute unacceptable interference in the football federation."The government of Indonesia has advised us that the decree that was causing the suspension had been lifted," said Infantino.The Asian Football Confederation welcomed Indonesia back into the "Asian football family" but said it would continue to fight any government interference in the running of the game."... the AFC Executive Committee reiterated this week their continued stand against government intervention in sport generally and football in particular," the regional governing body said in a statement on Saturday."As at their meetings in Delhi last November, Doha in January and Kuala Lumpur in March, the AFC Executive Committee in Mexico City made it clear that there was no place or justification for government interference."FIFA stepped in to ban the country in June after a long-running row between the government and the local football association (PSSI) over which teams should be entered into the top-flight domestic league.The government suspended the PSSI after they ignored requests to ban two teams whose owners failed to meet their new governance regulations.FIFA, after repeated warnings to resolve the row, then banned the country, ruling them out of the joint 2018 World Cup and 2019 Asian Cup qualifying campaign.Infantino added that the cases involving Kuwait and Benin would be resolved swiftly."I'm very sad to be here and have to propose to you that we suspend two associations," said Infantino. "On the other hand, we need to protect our associations from government interference, it is one of our major tasks."The Kuwait FA (KFA) was suspended by FIFA in October after soccer's governing body said a draft sports law constituted interference in the nation's football association.
 Explosive West Indian opener Chris Gayle has backed day-night tests and believes they could make the longest form of the game more popular.</strongAustralia and New Zealand played the first floodlit test at the Adelaide Oval in November, attracting more than 123,000 fans through the gates."It�s going to be different for the fans (but) I don�t see any reason why the concept can�t take off and be as successful as the shorter forms of the game," Gayle told reporters in Bengaluru where he represents the Royal Challengers Indian Premier League (IPL) team.The tall left-hander, who scored 7,214 runs in 103 tests, played his last test against Bangladesh in 2014.According to media reports, India want to host a day-night test against Australia next year.India and Pakistan are scheduled to play day-night tests in 2016 while Sri Lanka and Bangladesh are considering following suit.
 International Cricket Council (ICC) President Zaheer Abbas here Saturday called on Punjab Chief Minister Muhammad Shehbaz Sharif and discussed the matters regarding promotion of cricket and setting up of cricket grounds.The Chief Minister said that cricket is the most popular game in the country and there is a lot of talent for which coordinated steps are needed to polish it so that Pakistan could again achieve a prominent place in the cricket world.The Punjab government, he mentioned, has started a programme to establish cricket grounds, adding that initially work has been started on eight cricket grounds. Cricket grounds will be established in every district under a phase�wise programme.He said that it will promote cricket and new talent will come forward.The Chief Minister said that Pakistani cricketers have won laurels for the country on several occasions.He said that steps should be continued for the revival of international cricket in Pakistan and the Punjab government is ready to extend all out cooperation in this regard.Shehbaz Sharif �said that a comprehensive programme was being implemented for the promotion of cricket and other sports.The CM said that a game should be treated as a game and sportsmanship is the real spirit behind all games, including cricket.Shehbaz Sharif said all out facilities would be provided for the promotion of different sports, including cricket.President ICC Zaheer Abbas while speaking on the occasion said that steps taken by Shehbaz Sharif for the establishment of cricket grounds were commendable and new cricket talent will come forward.He also assured full cooperation to the Punjab government for the promotion of cricket.�
 The ICC has opened discussions with broadcasters about organising World Twenty20 tournaments in 2018 and 2022, thus the event will be played every two years.This means two extra World Cups will be added to the existing schedule as it looks to cash in on the booming popularity of the game�s shortest format.After the success of the World Twenty20 in India recently, the ICC does not want to wait another four years for the next tournament, which is due to be staged in Australia in 2020.This was proposed at the ICC recent board meeting in Dubai about holding a World Twenty20 every two years with West Indies a possibility for the proposed 2018 tournament and the UAE in 2022. The proposal is expected to be added to the agenda for the ICC�s annual general meeting in Edinburgh at the end of June for formal discussion.An informal sounding out of broadcasters has begun about adding the tournaments to the recent $2?billion (�1.4?billion) rights deal signed with Star Sports in 2014 that runs until 2023. That deal included a World Twenty20 this year and in 2020 after the ICC decided to place its three global tournaments (the World Cup, Champions Trophy and World Twenty20) on a four year cycle.But the collapse of the Twenty20 Champions League, which featured domestic teams from around the world, has left a hole in the calendar in September-October, a time which is suitable for cricket in seven of the nine Test playing nations.Sources have confirmed the ICC has explored the possibility of holding the men�s World Twenty20 in the West Indies in 2018, possibly as a run in or at the same as the women�s version is due to take place in the Caribbean. But the problem with the Caribbean is the time difference makes it incompatible with the Indian market, where the vast broadcast deals are on offer.Another possibility is South Africa, although the government there recently banned its cricket board from hosting global tournament because it had failed to meet racial quotas. The UAE has the infrastructure to host the tournament and the time difference works well with India. England is a non starter because this country is already hosting the 2017 Champions Trophy and 2019 World Cup.The recent World Twenty20 was hailed by the ICC for bringing in record television ratings. The group match between Pakistan and India was watched by 83?million people and in this country the pulsating final between England and West Indies brought Sky Sports a peak of 2.45?million viewers, the channel�s highest rating for a cricket match.Tweets about the World Twenty20 received 5.75?billion impressions and the ICC claimed 46?million people engaged with the tournament on Facebook. �It is a fact that the ICC World Twenty20 2016 engaged with fans, old and new, like never before,� said Dave Richardson, the ICC�s chief executive.�
 Arsenal Ladies beat London rivals Chelsea Ladies 1-0 in the final of the Women�s FA Cup in front of a competition record crowd of 32,912 at Wembley on Saturday.Danielle Carter scored the only goal of the game with an excellent first�half shot. Carter 22 went past Hannah Blundell on the left corner of the penalty area before curling a shot beyond the reach of Chelsea goalkeeper Hedvig Lindahl after 18 minutes.Lindahl made several good saves as Arsenal failed to get the second goal that would have helped put the result beyond doubt.Chelsea had a number of chances to equalise and their best opportunity of the second half came with 20 minutes left when South Korean midfielder Ji-So�Yun shot narrowly wide.Chelsea kicked off having won four successive matches in the Women s Super League.
 A ravenous Luis Suarez bagged a third hat-trick in five games as defending champions Barcelona won 3-0 at Granada to clinch their 24th La Liga title on Saturday.</strongThe Uruguayan converted Jordi Alba�s low pass in the 22nd minute to give Luis Enrique�s side the lead.He then headed in Dani Alves� cross in the 38th before tapping Neymar�s pass into an empty net in the 86th.Suarez finished the season as La Liga�s top scorer with 40 goals, breaking Cristiano Ronaldo and Lionel Messi�s grip on the honour since 2009.Barca ended with 91 points, one ahead of Real Madrid who won 2-0 at Deportivo La Coruna. Ronaldo scored twice for Real before being substituted at halftime, finishing the campaign with 35 goals.Gerard Pique came close to giving Barca an early lead when his header was tipped away by goalkeeper Andres Fernandez who also saved well from Messi.Fernandez was powerless to stop Suarez�s opener, however, the Uruguayan tapping the ball home at the far post.<br/>The second goal was delightful.Javier Mascherano launched a long diagonal pass towards the byline and Alves raced to meet it before hooking a cross for Suarez to nod in from close range.Suarez nearly laid on a third for Neymar but the Brazilian was denied by Fernandez. Neymar then generously played in Suarez to complete his hat-trick before the end."This title tastes great after so much hard work throughout the year and suffering right until the end," said Barca captain Andres Iniesta."The league is the tournament that tests your consistency throughout the year and it�s the one we want to win every year."Real got off to an ideal start at Deportivo when Gareth Bale manoeuvred his way past a defender on the left and cut the ball back to Karim Benzema who squared it for Ronaldo to score in the seventh minute.The Portugal striker�s second in the 25th minute had an element of good fortune, his header from a corner bouncing off Deportivo�s Pedro Mosquera on its way into the net.Ronaldo also hit the post and the crossbar before being replaced by James Rodriguez although there was no suggestion he had an injury two weeks before the Champions League final against Atletico Madrid.
 Spin maestro Yasir Shah is expected to return from injury in four to five weeks after going through Conservative Management, which includes physical therapy and extensive rehabilitation.Pakistan Cricket Board (PCB) on Monday announced that Yasir Shah is suffering from tear in the Lateral Meniscus along with small osteochondral defect.<br/> <br/> �He needs Conservative Management which includes physical therapy and extensive rehabilitation. In our opinion he will recover in 4-5 weeks� time,� PCB medical expert was quoted as saying in a press release.
 Australia captain Steven Smith and his team have been warned about risks associated with the Zika virus ahead of their tour of the West Indies next month.</strongAustralia will play West Indies and South Africa in a triangular one-day international tournament in St Kitts &amp; Nevis, Barbados and Guyana from June 5.A handful of cases of Zika - a mosquito-borne virus known to cause the birth defect microcephaly - have been recorded in Guyana, on South America�s north coast.Cricket Australia chief medical officer John Orchard said the players had been briefed on how to avoid being bitten by mosquitoes.An outbreak of the disease in Puerto Rico caused two Major League Baseball games to be relocated from the Caribbean island to Miami later this month.Preparations for the Rio Olympics have been overshadowed by a major Zika outbreak in Brazil, prompting some athletes to elect to skip the Games.
strong>Sri Lanka fast bowler Dhammika Prasad has been ruled out of the first Test against England at Headingley starting on Thursday, the BBC reported on Sunday.</strongThe 32-year-old damaged his shoulder during his team's opening tour match against Essex last week."We're hoping that we can get him bowling again pretty soon," head coach Graham Ford said.Prasad, 32, took five wickets in the second innings against England at Headingley two years ago to help Sri Lanka clinch the series."We'll have to build him up and get him bowling a number of overs in the nets to have him prepared potentially for the second or third test," Ford said.Prasad has taken 75 wickets in 25 tests.
 "Well done Andy, you were just too good."It was an emphatic triumph, after finishing runner-up in Madrid and making the semi-finals in Monte Carlo, to convince Murray that he now must have his best shot yet at winning the French Open, which begins next weekend.In the week that Murray announced an amicable split from coach Amelie Mauresmo, this was only the second time in their last 14 meetings that he had beaten Djokovic and it was his first victory in their six duels on clay.The light rain in the Italian capital really seemed to dampen Djokovic's spirit as he complained to the umpire that it was "too dangerous" to continue but his appeals were brushed aside by the official, Damian Steiner.Murray was aggressive from the start, taking command in the light drizzle, and even when Djokovic appeared to be fighting back in the second set, Murray saved break points in successive games to begin imposing himself again.At the end, Djokovic capitulated with surprising swiftness, hitting a couple of errant forehands and a double fault at 3-5 down before Murray conjured up one inspirational backhand winner from way beyond the tramlines to lift the title.No British man had won the Italian title since Patrick Hughes in 1931 and the triumph will put Murray into the world number two spot on Monday ahead of Roger Federer before the second of the season's slams starts in Paris.
 Joe Root was named Test Player of the Year, Limited-Overs Player of the Year and Fans Player of the Year at England�s annual awards ceremony on Monday.The Yorkshire batsman, 25, hit two centuries in England�s Ashes triumph last year, scored four one-day tons and was his team�s leading scorer at the recent World Twenty20 tournament in India.He overcame competition from Stuart Broad and Ben Stokes for the Test award and edged Jos Buttler and David Willey in the Limited-Overs category with both prizes decided upon by a media poll.�It�s been a remarkable year for our international teams�, said England and Wales Cricket Board CEO Tom Harrison. �The women�s Ashes attracted record attendances and unprecedented levels of media interest.�Our physical disability team won the inaugural Physical Disability World Cup in Bangladesh and our men�s team regained the Ashes, won a major Test series in South Africa and reached the final of the World T20 tournament.Each of the players honoured tonight, has made a big contribution to England cricket, helping to win matches and to inspire a wider audience and deserves the highest praise.The awards were handed out at a celebratory dinner in the northern English city of Leeds which stages England�s first Test against Sri Lanka later this week.Somerset�s Anya Shrubsole was voted Women�s Player of the Year with veteran England skipper Charlotte Edwards who recently announced her international retirement taking home the fans prize.There was also a Special Achievement Award for former England coach turned Sky Sports commentator David Lloyd.�
 Thirty one athletes from six sports could be banned from this year�s Rio de Janeiro Olympics after 454 doping samples were re-tested from the 2008 Beijing Olympics, the IOC said on Tuesday.</strongA statement from the International Olympic Committee said its Executive Board had stepped up the fight against drugs cheats and the re-tests had been carried out in conjunction with the World Anti-Doping Agency (WADA) and international federations.It said the re-tests were focused on athletes who could potentially take part in the Rio Games this year.Twelve national Olympic associations would be informed in the coming days, the IOC said.Another 250 samples would be re-tested from the London 2012 Olympics."The aim is to stop any drugs cheats coming to the Olympic Games in Rio de Janeiro," the IOC said.
 England all-rounder Ben Stokes will learn from his dreadful World Twenty20 experience and come back a stronger player, team mate Stuart Broad has said.</strongStokes was hit for four successive sixes by West Indies� Carlos Brathwaite in the last over of the T20 final, the onslaught ending England�s hopes of a second title.Broad, the world�s top-ranked test bowler, was famously blasted for six sixes by India�s Yuvraj Singh in the 2007 tournament but used the setback as motivation and has backed Stokes to follow suit."I wouldn�t be the bowler I am now without that experience," Broad told British media."You�re dead right, people would have been sat there thinking: �Why did you go that way?�"But you�ve got to go with what you feel is your strength, so as a player you�ll always have things you are confident in.I prefer a player to get it wrong going for something they believe is their strength than going to something that isn�t."Don�t be surprised if Stokesy now performs at a really high level because he�ll realise what went wrong and channel it the right way -- he has an amazing talent."England kicks off their three-match home test series against Sri Lanka at Headingley on Thursday, which will be followed by an ODI series.
Australia all-rounder Glenn Maxwell has suffered a side strain in the Indian Premier League and will head home to recover before the West Indies tour, Cricket Australia said on Tuesday.Maxwell had "increasing soreness in his left abdomen area" after playing for Kings XI Punjab, CA said in a statement.�From the information we have so far, the injury doesn�t appear to be something that will prevent Glenn from participating in this tour,� but we are keen to give him the necessary time to recover before departing to the West Indies at the end of this month,� a CA physiotherapist said.The hard-hitting 27-year-old becomes the fifth Australia player to leave the Indian Twenty20 tournament early following the departures of captain Steve Smith, John Hastings and Mitchell and Shaun Marsh.Australia play West Indies and South Africa in a triangular one-day international tournament starting on June 5.�
 England captain Alastair Cook said Wednesday he was well aware that his looming membership of the 10,000 Test-�run club would be a significant landmark in an already successful career.The 31-year-old left-handed opener needs just 36 more runs to become the first Englishman � and only 12th player overall � to score 10 000 runs in Tests and he will hope to get there during this week s first Test against Sri Lanka at Headingley which starts on Thursday.It would mean a lot and hopefully I can get there sooner rather than later so we can talk about something else, said Cook speaking at Headingley, Yorkshire�s headquarters, in Leeds, northern England on Wednesday.It s a big milestone in terms of the people who have done it previously so it would be great to try and score these 36 runs.�I�ve just got to put that to bed after this press conference and try and do what I�ve done in the previous 10 years which is just try and concentrate on that ball coming down and nothing else.�The last time England played Sri Lanka in a Test at Headingley two years ago, was one of the low points of Cook�s career.Sri Lanka, inspired by a brilliant hundred from captain Angelo Mathews, � still their skipper, � won a thrilling match by 100 runs off the penultimate ball of the game to secure their first Test series win in England.Cook�s tactics were widely criticised and he pondered resigning the England captaincy.�
 The Pakistan cricket team will be undergoing a two weeks training camp in June in England prior to their series as to get familiar with the conditions there.</strongTalking to APP a PCB official said the Pakistan Cricket Board(PCB) has decided to send the national team to England in mid June(June 14 or 15) for a two weeks training camp in order to make the players familiar with the pitches tracks and conditions there.Pakistan team will be training in the Rose Bowl cricket ground in Hampshire England he said.He said chief selector Inzamam ul Haq and head coach Mickey Arthur had given a serious concern over the team to prepare in England prior to the series.The chief selector is most likely to travel to England to monitor the players he said.Pakistan will play its first practice match against Somerset on July 3 to 5 while the second from July 8 to 10 against Sussex.The series against the English team will begin with a test on July 14. Pakistan will play four tests five ODIs and a Twenty20 in its tour to England.
 Star allrounder Shahid Khan Afridi has ruled out to become a coach or commentator in the future.</strongSpeaking as a chief guest of Geo News morning show �Geo Pakistan�, Shahid Afridi said, �I will continue playing county and league cricket for one-and-a-half or two years, however, I will make decision regarding national cricket soon.�Afridi said the main pressure in the international cricket is expectations from the people.�I feel pleasure by helping others that can�t be felt even after making world record,� he said.The former skipper urged Pakistan Cricket Board to make a long lasting system and do not change it from time to time.Talking about his comments during World Twenty20 in India, Afridi said it was for educated people.
 Australia�s George Bailey felt like he was "hit on the face with a truck" when a Nathan Coulter-Nile bouncer knocked his helmet off in an Indian Premier League (IPL) match in Visakhapatnam on Tuesday.</strongIn the seventh over of Pune�s reply, Delhi paceman Coulter-Nile, who made his Australia Twenty20 debut under Bailey in 2013, banged in a short delivery that deflected off his former skipper�s a top-edge and smashed into the grille of the helmet.The violent impact caused the tumbling headgear to partially disintegrate as it rolled wide of the stumps."I think those watching on TV would get a better picture of it than I do, because what I sort of remember is me getting hit on the face with a truck that was pretty quick," Bailey said after his team�s 19-run victory."But, I was pretty glad to have one of those new helmets on."Last week, Cricket Australia decided to make it compulsory for players to wear helmets against pacemen following a review into the death of test batsman Phillip Hughes, who died in November 2014 after being hit in the head by a bouncer.Coulter-Nile was seen apologising to his former captain while Delhi fielders also inquired about Bailey�s condition."A couple of them were disappointed that the helmet hadn�t rolled on to the stumps," Bailey said with a smile."But, most people were just checking on me and how I was.
 Maria Sharapova will attend an International Tennis Federation anti-doping hearing in London on Wednesday, British media reported, with the Russian facing a possible ban of up to four years for failing a drugs test at the Australian Open.</strongThe five-times grand slam champion stunned the world in March when she said she had returned a positive test for meldonium, a Latvian-made heart medication which was added to the World Anti-Doping Agency's (WADA's) banned list from Jan. 1.Sharapova, the world's highest-paid sportswoman, claimed to have been taking meldonium on doctor's orders for 10 years and had failed to note that it had become a banned substance until hearing of her failed test at the first grand slam of the year.She was provisionally suspended on March 12 pending the hearing.Hundreds of athletes have tested positive for meldonium this year but WADA admitted last month that their bans might be overturned due to a lack of clear scientific information on how long the drug takes to be excreted from the body.The drug's manufacturer said traces could remain in the body for several months depending on dosage, duration of treatment and sensitivity of testing methods.The ITF's anti-doping program calls for a four-year suspension for a failed test but it can be reduced in various circumstances, such as for first-time offences or if the player shows no significant fault or negligence.
Wayne Rooney and Marcus Rashford scored to lift Manchester United to a comfortable 3-1 win over Bournemouth on Tuesday that secured fifth place in the Premier League table.The game was hastily rearranged after the match on Sunday was abandoned due to a bomb scare and the first half was very low key in front of a sparse Old Trafford crowd.The one moment of quality produced a fine goal, however, just before the interval when United's French forward Anthony Martial injected pace down the left and Rashford stepped over his cross to leave Rooney with a simple finish.The 18-year-old Rashford provided another example of his burgeoning talent with a clinical finish, his eighth goal since making his debut in February, in the 74th minute and Ashley Young added United's third before defender Chris Smalling's stoppage-time own goal gave Bournemouth a consolation.
 �England will aim to narrow the gap with third�ranked Pakistan while Sri Lanka will target moving ahead of sixth�ranked South Africa in the MRF Tyres ICC Test Team Rankings when the three�Test series begins at Headingley on Thursday.England currently sits in fourth position on 105 points, six behind Pakistan while Sri Lanka is on 88 points in seventh spot, four behind South Africa.If England wins all the three Tests then it will rise to 109 points, two behind Pakistan, while a 2-0 win will put it on 108 points, three behind Pakistan.In contrast, Sri Lanka can move to as high as 98 points but to make this to happen it will have to win all three Tests.In this scenario, there will be a three-way tie between New Zealand, England and Sri Lanka but when the rankings are calculated beyond the decimal point then New Zealand will be ranked fourth, England fifth and Sri Lanka sixth.A 2-1 or 1-0 win will earn Sri Lanka six points which will put it two points ahead of South Africa while a 2-0 win will put the Asian side on 96 points.This is the ninth time England is hosting Sri Lanka in a Test series. Of the previous eight series, England has won four while Sri Lanka has triumphed twice including a 1-0 win on the previous tour in 2014.Overall England leads Sri Lanka 6-5 in 14 series while in 28 Tests played between the two sides to date, England has won 10 against Sri Lanka�s eight.
 Law and order situation has remarkably improved in country and Balochistan owing to successful actions of security forces against terrorists. It has brightened chances of holding international cricket matches in the country. Pakistan Cricket Board should also organise international matches and domestic cricket in Quetta as in other cities of the country. Provincial government would extend full cooperation in this connection.These views were expressed by Balochistan chief Minister Nawab Sanaullah Zehri while speaking with Chairman PCB Shahar Yar Khan, who held a meeting with him here Thursday. Provincial ministers, MPAs and Chief Secretary were also present at the meeting.Chief Minister said there is no dearth of talent among our youth. They should show best performance in cricket and other sports and brightened the name of the country.If PCB establishes cricket academy in Quetta then players of international standard would emerge.Chairman PCB Shahar Yar Khan, appreciating provincial government measures for improving law and order situation, said that PCMB would ensure organising international matches in Quetta.Efforts would be made that a match is organised with Afghan cricket team during its next visit to Pakistan.He said PCB would launch flood lights and other international standard facilities at the Bugti Cricket Stadium shortly.Besides cricket Academy was also being established in Quetta. Cricket grounds would also be built in all districts of the province.He asked chief minister for providing land for this.Chief minister assured that government would extend full cooperation for promotion of cricket and building grounds.He also stressed need for building cricket ground in Gwadar at the earliest. He also presented a souvenir to Chairman PCB.�
 A diligent half-century from Alex Hales, coupled with some home-ground know-how from Jonny Bairstow, helped England to regroup with a 88-run stand for the sixth wicket on the first day of the first Test against Sri Lanka, after their ambitions had been dramatically dented by the loss of five wickets for 34 runs either side of the lunch break.By tea, Hales was unbeaten on 71, his second Test half-century in nine innings and his highest yet, beating the 60 he made against South Africa at Cape Town in January.At the other end was Bairstow, who arrived at the crease with England's innings in crisis at 83 for 5, but responded with the sort of sparky counter-punching. Bairstow's 54 not out from 67 balls took the attack back to Sri Lanka, who nevertheless remained firmly in the contest at 171 for 5, thanks to Dasun Shanaka's sensational debut breakthroughs.After being put into bat on a morning when bowling first was a no-brainer for both captains, England's openers were obliged to rein in the extravagant strokeplay that has coloured so much of their cricket in recent months - a situation that might have been tailor-made for Alastair Cook. He began the match needing another 36 runs to reach 10,000 Test runs, and after getting off the mark with a sixth-ball clip for four through midwicket, appeared well set for the long grind until Shanaka's introduction, in the 18th over of the day, tore up the pre-conceived script.Shanaka launched his Test career with a maiden before striking with the first ball of his second over. Cook had been leaving the ball with his usual sangfroid for most of his 52 deliveries, but having creamed one cover drive off Nuwan Pradeep, he was drawn into another from the slower, wobblier Shanaka. The full length outside off left him a touch, and Cook scuffed an edge through to Dinesh Chandimal, the keeper. He was gone for 16, and still needs another 20 runs to notch up a landmark that has been on his conscience since the start of the South Africa tour in December.Three balls later, however, such thoughts had been whisked out of England's minds. Nick Compton - whose anxieties cannot have been aided by his team-mates' struggles to impose themselves - poked with caution at a perfect off-stump line and length, to squeeze a low edge through to Lahiru Thirimanne at first slip. He was gone for a duck as Shanaka became only the third bowler in Test history, and the first since Richard Johnson in 2003, to claim two wickets before conceding his first career run.And, as if that was not enough of an impact on debut, Shanaka then added England's main man to his tally, as Joe Root - in such golden touch in all formats - was also drawn into a drive that scudded to Kusal Mendis at third slip.It was a dream start for Shanaka, who had been awarded his Test cap by Mahela Jayawardene before the start of play, and a timely boost for a beleaguered Sri Lanka squad too, who began the match knowing that Dhammika Prasad, their matchwinning seamer on this ground two years ago, will miss the whole Test series after flying home to resolve a shoulder injury.By tea, however, Hales and Bairstow had provided their team with a steadying hand, as a forecast rain shower swept in from the Pennines to delay the resumption of play.
 Alastair Cook�s bid to become the first England batsman to reach 10,000 Test runs had been relegated to an afterthought by lunch on the first morning of the first Test at Headingley, as the Sri Lanka debutant Dasun Shanaka claimed three wickets for one run in the space of eight balls to cut a swathe through England's much-heralded top order.By lunch, Cook had been dismissed for 16 - still 20 runs shy of his landmark - with Nick Compton and Joe Root, the local hero and newly-crowned England Test player of the year, both following for ducks in a sensational ten-minute spell before lunch.It was left to Alex Hales, who had been growing in confidence on 38 after an anxious first hour, and England's own debutant, James Vince, to glue the innings together. Vince had yet to get off the mark after 15 balls of watchful defence, as England settled for a lunchtime scoreline - and a definite bout of indigestion - of 57 for 3.Shanaka had been brought on to bowl the 19th over of the innings with England apparently looking solid on 44 for 0 after Cook and Hales had seen off the new-ball danger of Shaminda Eranga and Nuwan Pradeep.Instead, having launched his Test career with a maiden, Shanaka struck with his seventh delivery to tempt Cook with a fuller length outside off, and scuffed an edge through to Dinesh Chandimal, the keeper.Then, three balls later, Compton poked with caution at a perfect off-stump line and length, to squeeze a low edge through to Lahiru Thirimanne at first slip.Shanaka then added England's main man to his tally, as Root - in such golden touch in all formats - was also drawn into a drive as Shanaka's wobbly medium-pace left his shot just a fraction and scudded to Kusal Mendis at third slip instead.It was a dream start for Shanaka and a timely boost for a beleaguered Sri Lanka squad too, who began the match knowing that Dhammika Prasad, their matchwinning seamer on this ground two years ago, will miss the whole Test series after flying home to resolve a shoulder injury.The second hour of the session also featured a lively but unsuccessful introduction for Sri Lanka's pacy young quick bowler, Dushmantha Chameera, as well as a typically accurate probe from the spinner, Rangana Herath, whose solitary over was blocked out for a maiden by Hales before the break.Both sides are wearing black armbands in recognition of the floods that are currently affecting Sri Lanka.�
 Pakistan head coach Mickey Arthur feels that if there would be a role for Shahid Afridi in Pakistan cricket then he will be brought back.</strongMickey said Afridi has been a fantastic player for Pakistan for many years and you don t discard phenomenal players like that very easily.If we think there is a role for him we will certainly bring him back but that is a discussion for the future and another time.There s a lot of cricket to be played before we get to that discussion he told Pakpassion.net.Speaking about Pakistan struggling in twenty20 cricket Mickey said one learns a lot from franchise cricket tournaments.Not playing in the Indian Premier League (IPL) could be affecting the performances of the Pakistan team in the twenty20 over format, he said.He further said that the Head Coach should be part of the selection panel.I think the Head Coach has a role to play on that panel but it is also good in some instances that you have people who are part of the team environment also selecting otherwise you select for now and forget about the future, he said.Mickey said working with three different captains in Pakistan cricket would be a little bit difficult.I will discuss it with chief selector Inzamam ul Haq and see what he thinks is the best way forward and we will go from there.Ideally you want two captains as a maximum across the three formats.That is something we will look at even if it is three different captains that can be fine.We will do what is best, he said.Talking about plans with the Pakistan Cricket Board (PCB) hesaid he always likes to have goals and targets set for him and the team.But again they will be small and little steps to start with.You have to crawl before you walk or run.I will keep assessing those goals and as we move up I will be able to assess the goals and� standards we want, he said.�
strong>English Premier League champions Leicester City paid a visit to Bangkok's glittering Grand Palace on Thursday and signed a well-wishing book for the country's revered monarch King Bhumibol Adulyadej.</strongThe 88-year-old Thai king ascended the throne 70 years ago and is the world's longest-reigning monarch, but various ailments have kept him in hospital for a year.The squad, led by manager Claudio Ranieri and captain Wes Morgan, did not meet the king but gathered with thousands of tourists at one of Bangkok's top spots for visitors.The Thai-owned club are on an end-of-season tour to celebrate their improbable ascendancy to the top of the Premier League following a campaign they started as 5000-1 outsiders for the title but ended as champions by a 10-point margin.Billionaire club owner Vichai Srivaddhanaprabha, who led the party to the Grand Palace, said on Wednesday that he hoped the lessons learned by Leicester in their stunning season could serve to help Thailand's national team to a similar success."We want to help Thailand go to the World Cup," said Vichai, who bought the club in 2010."Thailand can be at the top, just like Leicester City."While at the Grand Palace, Vichai placed the Premier League trophy on a flower-decked table in front of an alter dedicated to the king, flanked by his son Aiyawatt and Ranieri.Soccer is hugely popular in the Southeast Asian nation but Thailand have had little success on the world stage.Thailand have never qualified for a World Cup but are one of the remaining 12 Asian teams competing for four spots at the next tournament in Russia 2018.The duty free franchise that has made Vichai one of Thailand's richest man is named King Power, in a reference to King Bhumibol.It is also the name of Leicester's home ground in Britain's Midlands after his company bought the naming rights in 2011 before buying the stadium outright two years later.The team will later hold a victory parade in central Bangkok.
 The concept of day-night test found a new taker in England with board chairman Colin Graves confirming the country will host a twilight test.</strongAustralia and New Zealand played the first floodlit test last November at Adelaide Oval and the innovation is taking roots across Asia.India and Pakistan are scheduled to play day-night tests this year while Sri Lanka and Bangladesh are considering following suit pending the results of domestic trials (Full Story)."You can't turn your back on it, it will happen," England and Wales Cricket Board Chairman Graves told BBC Sport."We just have to decide when it is going to happen. We're doing a lot of work on it and we'd love to see day-night cricket."The first floodlit test at Adelaide Oval lasted only three days raising doubts if the pink ball can last the duration of the required number of overs in an innings.But the test also attracted more than 123,000 fans through the gates at the picturesque ground, a welcome sight at a time when the game's longest format is grappling with dwindling crowds with the advent of the shortest Twenty20 format.England has also attempted a minor shake-up by proposing a points-based system to determine the winner of their home series against Sri Lanka beginning on Thursday.The points-based system is aimed at injecting more excitement into the tour and add context to matches that otherwise maybe of merely academic interests.Graves said work needed to be done to make the longest format more exciting and relevant."We have to make test cricket meaningful and we have to put some 'oomph' behind it," Graves said."Test cricket is safe if we do something about it, but I don't think it is safe if we do nothing. That is not an option."The International Cricket Council are looking at it and the other countries are looking at it.�
 "Go, Villa, Go! We will be back."The club said Xia's immediate objective was "to return Aston Villa to the Premier League and then to have the club finish in the top six, bringing European football back to Villa Park".It added the deal would also help make Villa the most famous football club in China.Dreyer at China Sports Insider dismissed that as "simply ludicrous", given the appeal of much bigger rivals such as Spain's Barcelona and England's Manchester United and Arsenal."I think fans of the club will remain sceptical until it becomes clear what his true motivations are," he added.($1 = 0.6837 pounds)
Sevilla conjured up a dazzling comeback to clinch a record third successive Europa League title on Wednesday, flooring Liverpool with a 3-1 victory that showed why the Spanish side have become masters of Europe's second-tier competition.Sevilla captain Coke lifted the trophy at Basel's St Jakob-Park having been the architect of their heroics, scoring twice to leave Liverpool gasping on the canvas after Kevin Gameiro had cancelled out Daniel Sturridge's opener.It was a remarkable turnaround after Liverpool had dominated the first half so completely that Juergen Klopp's side should have been home and dry, but they failed to inflict further damage when their opponents were reeling.Unai Emery's team hit back with three goals in 25 minutes, the first coming just 17 seconds after the interval, to claim the trophy for the fifth time in 11 seasons and become the first side in 40 years to win three consecutive European competitions."At Sevilla we love this competition and we love it so much and we want it so much that we won it," Emery said. "It is our competition and we underlined that once again."For Liverpool and Klopp, who has now suffered successive final defeats in his seven months in charge after February's League Cup disappointment, it was a dispiriting occasion.His team's hopes of Champions League qualification were dashed, leaving Liverpool to face up to a season with no European competition."The players are still young," Klopp told reporters. "We will use this experience today and someday everyone will say Basel was a decisive moment for Liverpool FC."It had looked, however, like being an entirely different outcome at the interval.The opening goal arrived after 35 minutes and was a genuine moment of class from Sturridge, who received the ball on the left edge of the area before expertly picking his spot with a pin-point curling finish off the outside of his left boot.The England striker had already had a header hacked off the line and Liverpool had two vociferous penalty appeals for handball waved away by referee Jonas Eriksson as they turned the screw on their opponents.The halftime whistle came to Sevilla's rescue, however, allowing them to regroup before clawing themselves off the ropes with an immediate sucker punch.Seconds had elapsed before Liverpool left back Alberto Moreno, whose mistakes have cost his side on a number of occasions this season, darted hopelessly into a tackle on Mariano Ferreira, who skipped past him and crossed for Gameiro to side-foot into an empty net.Then it was Liverpool's turn to hit the panic button as Gameiro wasted two further chances before Coke added a second after 63 minutes.Vitolo danced through a series of Liverpool tackles before the ball landed invitingly for the Sevilla skipper to curl his finish into the corner.The final nail in Liverpool's coffin sparked fury on the touchline as Coke kept his cool to bury his second goal beneath Liverpool keeper Simon Mignolet, only for the linesman to briefly raise his flag before putting it down again.After some pushing and shoving the goal stood, leaving Liverpool with a mountain to climb.Having retreated so far into their shell, however, they were incapable of rising above base camp.
 The England pace attack ripped out Sri Lanka for 91 after Jonny Bairstow made an excellent century to put the hosts in complete control of the first Test on the second day in Leeds on Friday.Bairstow�s superb knock of 140 lifted England to 298 in their first innings before James Anderson and Stuart Broad took nine wickets between them in favourable conditions for seam bowling at Headingley.England captain Alastair Cook enforced the follow-on and the touring side negotiated two deliveries to reach one for no wicket before bad light ended play. Sri Lanka trail by 206 runs in the opening match of the three-Test series.England had resumed in the morning on 171 for five and Bairstow and Alex Hales extended their sixth-wicket partnership to 141. Hales, on 86, was in sight of his maiden test century when he skied spinner Rangana Herath to deep extra cover.Moeen Ali (nought) and Broad (two) were dismissed by Dushmantha Chameera in the same over but Bairstow, dropped on 70, completed his second Test hundred and celebrated the achievement enthusiastically on his home ground.Bairstow found a solid partner in Steven Finn, the pair adding 56 for the ninth wicket before the former skied a catch to mid-on off Chameera.Sri Lanka made a dreadful start to their reply as experienced fast bowlers Anderson and Broad exploited the conditions superbly.Dimuth Karunaratne, Kaushal Silva and Kusal Mendis all edged catches to wicketkeeper Bairstow, leaving the tourists in deep trouble at 12 for three.Dinesh Chandimal, on 15, was well held by James Vince at third slip off Ben Stokes before Anderson trapped captain Angelo Mathews lbw for 34 and then dismissed Dasun Shanaka first ball that the batsman nicked to Bairstow.Herath was smartly caught by Stokes in the slips off Anderson for one, Chameera (2) drove Broad to Finn at mid-off and Lahiru Thirimanne, on 22, was caught by Finn at mid-on off Broad.Anderson completed his 19th five-wicket haul in Tests and outstanding figures of five for 16 when he had Shaminda Eranga caught by Bairstow down the leg-side.�
 England took command on the second afternoon of the first Test at Headingley after Jonny Bairstow played �a brilliant counter-punching innings of 140 and later added three catches behind the stumps. With a total of 298 to defend, Stuart Broad and James Anderson produced another classy display of seam and swing bowling to leave the Sri Lankans rattled on 43 for 3 at tea.It was a situation far removed from the 83-for-5 scoreline that had confronted Bairstow when he walked out to bat shortly after lunch on the first day. And with the new ball jagging alarmingly from a full length as Broad and Anderson brought all of their huge experience to bear, it took a gutsy response from Angelo Mathews and Dinesh Chandimal, Sri Lanka's most experienced pairing, to reach the break without further damage.Faced with grey skies and a packed cordon, Sri Lanka's openers, Dimuth Karunaratne and Kaushal Silva betrayed their anxieties in the very first over, when they hesitated so long over a quick single that they could have ended up shaking hands in the middle of the pitch.Instead, they simply waved goodbye in the space of five deliveries as, first, Broad straightened one off the seam to kiss the edge of the left-handed Karunaratne, who departed for a 12-ball duck, before Anderson drew level with Kapil Dev on 434 career wickets by finding some extra lift to dispose of Silva for 11.One over later, and Broad had two wickets in three balls as he went wide on the crease to spear an angled full-length ball into Kusal Mendis' forward defence, for Bairstow to snaffle the slenderest of deflections behind the stumps.Chandimal and Mathews, however, stood firm in a 31-run stand before the interval.The story of the day, however, remained Bairstow's happy homecoming - a second Test century and his first at his Yorkshire home. Continuing the theme that Bairstow and his fellow not-out batsman, Alex Hales, had established on the first afternoon, England's sixth-wicket pair extended their stand to 141 to banish the memories of the top-order wobble, when five wickets had tumbled for 34 runs.At the other end, Hales wound his neck in and banished all risk from his game as he set his sights on the remaining 29 runs he needed for his maiden Test century. But he faced with a change of tempo as Rangana Herath came into the attack, Hales' patience snapped for good. In Herath's second over, he skipped down the track and failed to reach the pitch of the ball with an ambitious wallop over the covers. A fast flat leading edge fizzed out to Dushmantha Chameera at deep extra cover, who pouched the offering with a well-judged dive.If Hales' failing had been to linger too long, then a different criticism could be levelled at Moeen Ali. England's No. 8 had admitted before the match that he had lost a bit of confidence in being slated to come in so low for his country, but the hasty manner in which he came and went didn't exactly enhance his case for a promotion. He had failed to score from his first seven deliveries when he drove too firmly at his eighth, from Chameera, and lobbed a simple catch off the inside edge and pad, to Mendis under the helmet at short leg.It was a timely reward for the slippery Chameera, bowling only his second over of the day. He had erred on the short side in his fruitless first day's work, but was soon celebrating two wickets in the space of five deliveries when Broad drove flat-footedly at a hint of width outside off and spread-eagled his own stumps via an inside edge.Bairstow simply stared down the track, rather nonplussed by the clatter of wickets in his midst. But he didn't have to wait long to reframe the story of the session. From the first ball of Chameera's next over, Bairstow drilled a drive into the covers, paused as a wild shy came in at the non-striker's end, then galloped through with glee as the ball zipped through for overthrows to gift him his second century and his first on home soil.
 Jonny Bairstow brought up his second Test century, and his first on his home ground at Headingley, as England continued their fightback on the second morning of the first Test against Sri Lanka. However, with Alex Hales falling short in his own quest for three figures, Sri Lanka battled back with three wickets in the second hour of the session, and will be armed with a brand-new ball when play resumes after lunch.Continuing the theme that Hales and Bairstow had established on the first afternoon, the pair extended their sixth-wicket stand to 141 to banish the memories of England's top-order wobble, when five wickets had tumbled for 34 runs. Bairstow was once again the aggressor, as befits a man in supreme form on his Yorkshire home ground - his last two innings at the venue have been 246 and 198.Bairstow outscored his partner by three to one throughout their morning resumption, capitalising on too much width as both Sri Lanka openers, Shaminda Eranga and Nuwan Pradeep, offered opportunities to fillet the third-man boundary. He did enjoy one clear moment of good fortune however, on 70, when Pradeep failed to gather a sharp return catch to his right, as Bairstow scuffed a drive back down the track.At the other end, Hales wound his neck in and banished all risk from his game as he set his sights on the remaining 29 runs he needed for his maiden Test century. It was a grind, as he routinely refused to chase anything outside his eyeline, except for one clear opportunity on 82, when Dimuth Karunaratne failed to cling onto a flying edge at slip off the bowling off Angelo Mathews.It could have been the slice of luck that Hales needed. But four runs later, and faced with a change of tempo as Rangana Herath came into the attack, Hales' patience snapped for good. In Herath's second over, he skipped down the track and failed to reach the pitch of the ball with an ambitious wallop over the covers. A fast flat leading edge fizzed out to Dushmantha Chameera at deep extra cover, who pouched the offering with a well-judged dive.Hales was visibly distraught, lingering at the crease for several seconds and looking as though he wanted to snap his errant bat in two. Though he belatedly acknowledged the crowd as he dragged himself from the field, he knew that he had thrown away a priceless opportunity to silence those who doubt his credentials as a Test match opener.It could have set his summer up at the first opportunity. Instead, having added 15 runs to his overnight 71 in 52 deliveries, with a dropped catch thrown in the mix as well, he will know that the jury remains out. At least, for those of a superstitious bent, he had guaranteed his fate would be different to the last two England openers to make a maiden Test hundred at Headingley - both Sam Robson (2014) and Adam Lyth (2015) were out of the side by the end of the summer.If Hales' failing had been to linger too long, then a different criticism could be levelled at Moeen Ali. England's No. 8 had admitted before the match that he had lost a bit of confidence in being slated to come in so low for his country, but the hasty manner in which he came and went didn't exactly enhance his case for a promotion. He had failed to score from his first seven deliveries when he drove too firmly at his eighth, from Dushmantha Chameera, and lobbed a simple catch off the inside edge and pad, to Kusal Mendis under the helmet at short leg.It was a timely reward for the slippery Chameera, bowling only his second over of the day. He had erred on the short side in his fruitless first day's work, but was soon celebrating two wickets in the space of five deliveries when Stuart Broad drove flat-footedly at a hint of width outside off and spread-eagled his own stumps via an inside edge.Bairstow simply stared down the track, rather nonplussed by the clatter of wickets in his midst. But he didn't have to wait long to reframe the story of the session. From the first ball of Chameera's next over, Bairstow drilled a drive into the covers, paused as a wild shy came in at the non-striker's end, then galloped through with glee as the ball zipped through for overthrows to gift him his second century and his first on home soil. Coming at the ground where his late father, David, played for so many years, it was a moment that he may yet cherish even more than his emotional first century, at Cape Town five months ago.
 �England and Wales Cricket Board (EWCB) director Andrew Strauss has announced that a points system crossing all formats will be used for the matches against Sri Lanka and Pakistan this summer.The Super Series will get underway when the international summer begins with the first Test between England and Sri Lanka at Headingley on Thursday.As is traditional individual series trophies will still be atstake for the Tests one�day internationals and one�off Twenty20internationals against both tourists.But a system will also be introduced whereby the sides can earn four points for a Test win, two for a draw and two for a victory in one of the white�ball matches www.skysports.com reported.An overall win may therefore possibly not be achieved until the final match in each series which will be the Twenty20 matches in the case of this summer�s tours and an unsponsored prize of 25,000 will be put up by the home board. The idea is Strauss own and he outlined the thinking behind it at Headingley on Wednesday.�Today I�m introducing the Super Series the winner of which will be the overall tour winner for the Sri Lanka and Pakistan series over all formats�, �said the former England captain.�The rationale is that the game of cricket is evolving unbelievably quickly and I think we feel responsibility to ensure the international game develops. Central to that is context and relevance for every game of cricket you play. We believe the Super Series will provide that by connecting the formats and ensuring every game counts for something more than just itself.�Two separate white�ball teams and a red�ball team will be connected by something greater than their own immediate interests. What this doesn�t do is replace any of the individual series awards this summer so there will still be a Test series victory plus the one-day series and the Twenty20 match as well. But it sits on top of that wraps around it and creates something bigger to aim for.�The ECB is very keen to be at the fore front of efforts to modernise the international game and we feel this is a good way of ensuring the game remains relevant in both fans and players minds.�If the same points formula had been applied to England�s winter tours, the outcome would have been decided in the last match and the Test series winners would have been pipped at the line. Of course we would love the final game to be a Super Series decider that would be perfect,� said Strauss.�If you look at the last two series we played � against South Africa we would have lost the Super Series in the final Twenty20 and against Pakistan in the UAE we would have won the Super Series in the super over in the final Twenty20. Anyone out there who doesn�t see the need for international cricket to keep moving forwards really does have their head stuck in the sand.�I think we have to be on the front foot on this and say look we have a very vibrant Test support in this country and we�ve seen some fantastic Test matches over the last 12-18 months but there are some worrying signs there,� so let�s act before it�s too late�.
 A 42-year-old woman born in Nepal climbed Mount Everest for the seventh time on Friday, breaking her own record for the most summits of the world's highest mountain by any woman, a hiking official said.</strongLhakpa Sherpa, who works in a 7-Eleven store in Connecticut, reached the 8,850-meter (29,035-foot) peak from the Tibetan side, said Rajiv Shrestha of the 7 Summits Adventure company that organized her expedition."She has broken her own record," Shrestha told Reuters. She was accompanied to the top by a Nepali guide.Three hours later, eight members of a Russian team and eight of guides also climbed from the same northern route, he said.Lhakpa Sherpa, one of the 11 children of a Nepali family, was born in eastern Sankhuwasabha district where the world's fifth highest mountain, Makalu, is located.Two other Sherpa climbers share between them a record for 21 ascents of Everest, the maximum climbs by men.More than 330 climbers have climbed Everest from the Nepali side this month after expeditions were forced off the world's tallest peak by last year's devastating earthquake that killed at least 18 people at Base Camp.In total, 9,000 people were killed across Nepal in the 7.8 magnitude quake, the worst disaster in the country's recorded history.
Some Russian athletes are likely to have tested positive for doping in the 2008 Olympic Games after their samples were re-examined, the Interfax news agency quoted Russian Sports Minister Vitaly Mutko as saying on Friday.Thirty one athletes from six sports could be banned from this year's Rio Olympics after failing doping tests when 454 samples from the 2008 Beijing Games were re-examined, the International Olympic Committee said on Tuesday."Now they will publish (a report for) 2008. I guess that our sportspeople will be there as well. We are talking about 12 countries here," the agency quoted Mutko as saying.
strong>The investigatory chamber of world soccer body FIFA's ethics committee has recommended a two-year ban and a fine against former German Football Association president Wolfgang Niersbach.</strongThe committee's adjucatory chamber on Friday said it had opened formal proceedings against Niersbach following the investigatory chamber's recommendation.The chamber's investigations were opened in March, and the final report recommended a sanction of a two-year ban from all football-related activity and a fine of 30,000 Swiss francs ($30,269.40) for violations of the FIFA Code of Ethics, the adjudicatory chamber said.Niersbach will be invited to submit his position including any evidence with regard to the final report of the investigatory chamber and may request a hearing, it said.
Brazilian veteran Kaka is the highest paid player in Major League Soccer, with a 2016 guaranteed salary of $7.167 million, according to figures released by the Players' Union on Thursday.Orlando City's Kaka tops the list for the second successive year. Toronto's Italian striker Sebastian Giovinco is the second highest paid player on $7.115 million.Major League Soccer has a salary cap of $3.66 million for each of the 20 teams in the league but are allowed three "designated players" who do not count towards the cap and can be paid whatever the club can afford.Salaries in the league can be wildly lopsided, with many players earning the minimum of $62,500. The maximum salary for any one player is $457,500, according to the MLS website.American national team captain Michael Bradley is the highest paid local player at third on the list with a $6.5 million salary from Toronto, followed by former England midfielders Steven Gerrard and Frank Lampard.Former Chelsea player Lampard is paid $6.0 million by New York City FC though he has not played this season due to a calf injury.Also in the top 10 is Toronto's American striker Jozy Altidore, the former Sunderland player who has not scored a goal this season.�TOP 10 SALARIESKaka (Orlando City) - $7.167 millionSebastian Giovinco (Toronto FC) - $7.115 millionMichael Bradley (Toronto FC) - $6.5 millionSteven Gerrard (Los Angles Galaxy) - $6.132 millionFrank Lampard (New York City FC) - $6.0 millionDavid Villa (New York City FC) - $5.610 millionAndrea Pirlo (New York City FC) - $5.915 millionJozy Altidore (Toronto FC) - $4.825 millionClint Dempsey (Seattle Sounders) - $4.605 millionGiovani Dos Santos (Los Angeles Galaxy) -$4.25 million
 Five time world champion and London Olympics bronze-medallist Indian Boxer Mary Kom failed to qualify for the upcoming Rio 2016 Olympics after losing her pre-quarterfinal bout at the AIBA Women�s World Championships on Saturday.</strongKom suffered a 0-2 defeat at the hands of Germany�s Azize Nimani in the 51kg category. The event is the last qualifying event for Rio Games and the participants needed to reach atleast the semi-final to make the cut.
 �Amelie Mauresmo ended her coaching relationship with Andy Murray because she felt she could not improve the world number two any further, the former world number one said on Saturday.</strongThe Frenchwoman and Murray announced the end of an almost two-year partnership this month, but Mauresmo said the decision had been made some time ago."Andy is complex. On court, he can be opposite of what he is in life. It can be confusing. I was here to help. I had the feeling I could not take things further anymore," Mauresmo told L�Equipe Magazine."I had the feeling that we were at the end of what we could do professionally. We came to the conclusion that it would be complicated to continue."With Mauresmo, Briton Murray won seven ATP titles, claiming his first two trophies on clay in Madrid and Munich."It was a beautiful adventure. A woman coaching a man, it breaks a few barriers in the world of men�s tennis," she said."I liked the way Andy works, I liked to work with his team. He�s very curious, always in research. That�s what makes great champions."The 29-year-old Murray, a former U. S. Open and Wimbledon champion, is seeded second at the French Open which starts on Sunday.
 Mourad Laachraoui, the brother of one of the Brussels suicide bombers, has won gold at the European Taekwondo Championships and is now set to compete for Belgium at the Olympic Games in Brazil.</strongOlder brother Najim, 24, was one of two suicide bombers who blew himself up at Brussels Airport on March 22. The attacks, including another suicide bomber on the city's metro, killed 32 people.Mourad, aged 21, is listed among Belgium's 185-strong squad bound for the games in Rio De Janeiro starting on Aug. 5, where he will compete in the Under-58 kilogramme category.On Friday, Mourad won gold in the Under-54kg in Montreux, Switzerland, the Flemish taekwondo federation dubbing him "Europe's king of the lightweights" in a tweet.In a news conference two days after the attacks, Mourad said his brother was a nice, intelligent boy and had given no signs of being radicalised before he left for Syria in 2013 and broke all contact with his family.A veteran Islamist fighter in Syria, electromechanics-trained Najim is also suspected of making explosive belts for last November's Paris attacks, which killed 130 people."It's crazy, really - the same parents, the same upbringing, and one turns out really well and the other really bad," his lawyer Philippe Culot said in March."You don't choose your family,"
 �A 36-year-old Dutch climber died while descending from the summit of Everest, the first to perish this year on the world's highest mountain, officials in Nepal said on Saturday.</strongEric Ary Arnold was among over 40 climbers who reached the 8,850 metre (29,035 feet) summit on Friday, but died later that day while coming down on high-altitude slopes known as the "death zone" because of the prevailing thin air, Tourism Department official Gyanendra Shrestha said.Mingma Sherpa of the Seven Summits Treks company that organised Arnold's expedition said his client complained of weakness while descending above 8,000 metres (26,246 feet) and probably died from altitude sickness."We are trying to get in touch with his family and insurance company about the body which is still on the mountain," he said.A Nepali sherpa who was fixing ropes on nearby Lhotse, world's fourth highest peak - at 8,516 metres (27,940 feet) - fell to his death this week. More than 330 climbers have reached the top of Everest this month.An earthquake last year killed at least 18 people at the Everest Base Camp, situated at some 5,400 metres (17,800 feet) altitude, and forced hundreds of climbers to abandon their expeditions. The quake, the worst in Nepal's recorded history, killed 9,000 people across the Himalayan nation.
 Maria Sharapova may not play again after testing positive for the banned substance meldonium, the president of the Russian tennis federation was quoted as saying on Thursday.Shamil Tarpishchev told a news agency that Sharapova�s situation was "bad".The five-times grand slam champion faces a possible ban of up to four years for failing a drugs test at the Australian Open in January.British media reported that she had been due to attend an International Tennis Federation (ITF) anti-doping hearing in London on Wednesday.There has been no subsequent comment by the ITF.Sharapova stunned the world in March when she said she had returned a positive test for the Latvian-made heart medication which was added to the World Anti-Doping Agency�s (WADA�s) banned list from January 1.The world�s highest-paid sportswoman claimed to have been taking meldonium on doctor�s orders for 10 years and had failed to note that it had become a banned substance until hearing of her failed test at the year�s first grand slam.She was provisionally suspended on March 12 pending the hearing, and has lost a number of her lucrative sponsorship deals.She said at the time that she hoped she would be allowed to play again.The World Anti-Doping Agency WADA said in April, after hundreds of athletes had tested positive for meldonium, that bans might be overturned due to a lack of clear scientific information on how long the drug takes to be excreted.�
 Batsman Fawad Alam and opener Shaan Masood are said to be the fittest players in the training camp, kept in preparation for the England tour underway at the Kakul Military Academy.Talking to APP, a Pakistan Cricket Board (PCB) official said that Fawad and Shaan have topped the fitness tests and are the fittest players among others.Despite age test, captain Misbah-ul-Haq and batsman Younis Khan are also among the toppers in the fitness tests.As many as 31 players are attending the camp and mostly a dozen of them have been unable to meet the criteria of the fitness tests and have been unsuccessful to pass it, he said.He said the most below par performances of the players, who were even unable to come near fitness included Zulfiqar Babar and Sohaib Maqsood.The selectors and the board are very curious about the fitness tests and top priority will be given to those players who will be totally in shape, he said.He said Pakistan�s disastrous show in the Asia Cup and World Twenty20 was a result of players being unable to meet the fitness levels that was also pointed by former coach Waqar Younis and team manager Intikhab Alam.He said the Pakistan cricket team will also be undergoing a two�weeks training camp in June in England prior to their series there.The national team will be sent to England in mid June (June14 or 15) for a two�weeks training camp at the Rose Bowl cricket ground in Hampshire, England, he said.Pakistan will play its first practice match against Somerset on July 3 while the second on July 8 against Sussex.The series against the English team will begin with the first Test on July 14. Pakistan will play four Tests, five ODIs and a Twenty20 in its tour to England.�
 The spokesperson for the England and Wales Cricket Board stated that they were in contact with the Pakistan Cricket Board (PCB) with regard to the pacer's visa problem.�According to details, the spokesperson said that Pakistani fast bowler Mohommad Amir's visa application fell under the purview of the Immigration department. We are in touch with PCB and would provide them with any help they need, the spokesperson said.�Pakistani fast bowler Mohommad Amir had applied for a visa to the United Kingdom on Friday, for Pakistan's upcoming tour of England. Amir had been found guilty with then-Pakistani skipper Salman Butt and pacer Muhammad Asif on spot-fixing charges. If the young, fiery bowler is granted his UK visa, then this would mean that Amir would mark his first tour to England after his infamous spot-fixing scandal.�"I have written a letter to the high commissioner seeking special and sympathetic consideration on Amir�s visa," PCB chief Shaharyar Khan had said. "The England and Wales Cricket Board is also assisting and are in touch with their home department, so we hope for a positive response."This would also be Pakistan cricket team's first tour of England after 2010. The impressive 24-year old left arm pacer has already played in New Zealand immediately after he returned to international cricket a couple of months ago.�It is pertinent to note here that Amir could be banned from touring England, in light of his 2010 spot-fixing conviction.�
 "It was a super goal when we needed it."It was unbelievable that we had injuries again but in spite of going down to 10 players we showed the spirit we have shown on the road to the final."Palace manager Alan Pardew, who played when the London club lost the replayed 1990 final against United, was frustrated by two refereeing decisions from Mark Clattenburg, who will be in charge of next weekend's Champions League final.He felt Wilfried Zaha should have had a penalty when tackled by Rooney and that play should have been waved on as Connor Wickham recovered from Smalling's challenge and scored."It was a great cup final and could have gone either way," Pardew told reporters.�<strong>UNITED DANGEROUS</strongPalace did not get quite enough from speedy winger Zaha, who United once bought for 15 million pounds ($21.76 million) before selling him back to their opponents, and Yannick Bolasie.The London side threatened mainly from set pieces, although the tall Fellaini was a valuable asset in defending them.United made the more dangerous chances throughout the game, hitting the post twice early in the second half through Fellaini and young French striker Anthony Martial.Rooney was an influential captain in his deeper midfield role and 18 year-old Marcus Rashford made several of their best opportunities, but had to go off injured in the 72nd minute.Van Gaal could not say how serious the injury was or whether it would prevent Rashford joining the England squad next week.It was the second time United had won the FA Cup after having a player sent off. Irish defender Kevin Moran was the first man dismissed in a final, when they beat Everton in 1985. Smalling was the fourth and the first Englishman.There was a bonus in Palace's defeat for West Ham United, who will join United in the Europa League next season after the east London side move into their new Olympic Stadium ground.
 Making India the top team in all formats of the game will be the priority for Indian board (BCCI) president Anurag Thakur, the 41-year-old said after taking charge of the world�s richest cricket board on Sunday.</strongThe top BCCI job, often called the most powerful position in cricket because of India�s financial muscle in the sport, has been vacant since Shashank Manohar resigned this month to take over as chairman of the International Cricket Council.The BCCI elected one of its youngest ever presidents in a meeting in Mumbai where the parliamentarian representing India�s ruling Bharatiya Janata Party was the lone candidate for the post."Currently our team is number two in tests and T20 and number four in ODIs and in women�s cricket," Thakur told reporters."We will take every step whatever is possible to make India number one in all four."Since this year�s World Twenty20 on home soil, the Indian team has been without a coach.Thakur said the board would advertise the post and shortlist the applicants after June 10.Often led by seasoned administrators, the BCCI is perceived as an efficient but opaque body run by industrialists and politicians.Thakur said he was lucky to have learnt from three BCCI chiefs - Jagmohan Dalmiya, Narayanswami Srinivasan and Manohar -- who also headed the International Cricket Council.He takes charge at a time when the board is under pressure from India�s top court to bring about change."We have introduced many reforms in the last 15 months... We will further strengthen it," Thakur said."Transparency, accountability and professionalism will be part of BCCI�s working."Nobody is perfect. Wherever there are issues, we�d try and rectify that. As the custodian of the country�s most popular sport, we�re aware of our responsibilities and we�ll fulfil out duties."The board has earmarked one billion Indian rupees ($14.84 million) for a "green initiative" for new and existing stadiums, Thakur said.
 Politician Anurag Thakur was elected as president of the Indian cricket board (BCCI) on Sunday, taking charge of the world's richest cricket board.</strongThe post has been vacant since Shashank Manohar resigned earlier this month to take over as the chairman of the International Cricket Council. Under new rules, ICC chairman must be an independent administrator with no link to home board.Thakur, a 41-year-old parliamentarian representing India's ruling Bharatiya Janata Party, was BCCI Honorary Secretary before his elevation, which came at a special general meeting in Mumbai.BCCI confirmed Thakur's election on their Twitter feed but were yet to name a new Honorary Secretary.
 For the first time, a Pakistani female shooter will enter the realm of Olympics 2016, which will take place from August 5-26 in Rio, Brazil.</strongKarachi's Minhal Sohail will be representing Pakistan in the shooting category. Her preparation to bring laurels to Pakistan seems to be in full swing as she gears up to head for the National Shooting Center in Deodoro.�Participating in Olympics is like a dream come true for me, I am anxiously waited for the event,� she said.A total number of 390 athletes from various countries will compete this year, in 15 events of the shooting games.Minhal started her career in 2012. Since then she has participated in various events worldwide and won many accolades.Minhal, who secured the place in Olympics squad on quota, won the 10-metre Air Rifle event in the ongoing National Shooting Championship at PNS Karsaz.
 Chris Woakes has replaced injured all-rounder Ben Stokes in the England squad for the second test against Sri Lanka, the English Cricket Board said on Monday.</strongStokes limped off with a knee injury during England's first test victory at Leeds and further scans ruled him out of the second match, which begins at Chester-le-Street on Friday.All-rounder Woakes, who has won six test caps, will play the second day of a county match for Warwickshire on Monday before joining up with the England squad on Tuesday.England won the first of the three tests at Headingley by an innings and 88 runs.
Heavy rain postponed play on day two of the French Open with organisers saying no matches would start before 1130GMT.After a weather-hit opening day on Sunday, when only 10 matches were completed, 66 singles matches were scheduled for Monday with reigning men's champion Stan Wawrinka first up on Philippe Chatrier Court against Czech Lukas Rosol.Weather forecasts predicted the heavy rain would subside in the afternoon to leave sunshine and showers.The rest of the week look more settled, according to forecasts, although showers and thunderstorms are likely in the French capital at the weekend.
 Australia captain Steven Smith has no qualms about playing another day-night test at Adelaide Oval but is wary of how the pink ball will perform in the humid conditions expected at Brisbane later this year.</strongAustralia plays Pakistan in the first test under lights at the Gabba on Dec. 15, despite warnings from former players and pundits that muggy conditions could make the ball unplayable for batsmen.In the inaugural day-night match against New Zealand in drier Adelaide conditions last year, the ball hooped around menacingly during the floodlit late sessions and Australia won in three days.Cricket Australia (CA) hope to schedule another test against South Africa at Adelaide Oval in November but the Proteas have balked at the prospect, citing a lack of experience with the pink ball."I think it worked well, the one test at the Adelaide Oval," Smith told reporters in Brisbane on Monday."I personally believe that's the best place to play a day-night test match but we've got the one at the Gabba this year so it will be interesting to see how that goes.strong>GRASSY SURFACE</strong"It's just a little bit different with the ball and humidity that quite often is around in Brisbane, so it could be very difficult for the batters, particularly if there's grass left on the wicket."Fears that the pink ball might not last the required 80 overs in test cricket saw a grassy pitch prepared for the Adelaide match, making the task much harder for batsmen."I think we still need plenty of development with the ball to make sure that we don't prepare a wicket that suits the ball with plenty of grass on it," Smith added.South Africa captain AB de Villiers said last month that his team had misgivings about playing the day-night test after getting feedback from Smith and some other Australian players.Although Smith responded by backing Cricket Australia's campaign for the Adelaide match, he was less enthused about playing a personal role in talking South Africa around."I guess we could have conversations about it with some of the senior players in South Africa but in the end it's up to both boards what they want to do in regards to the game," he said.Smith will lead the one-day team in a triangular tournament in the Caribbean against West Indies and South Africa next month and said he had recovered from a wrist injury that ended his stint in the Indian Premier League (IPL) prematurely.
 Victoria Azarenka�s renaissance suffered a setback on Tuesday when the former world number one, hampered by a knee problem, pulled out of the French Open during her first-round match.</strongThe fifth seed from Belarus finally called it a day when trailing 6-3 6-7(6) 4-0 against Italian Karin Knapp.<br/>Azarenka, who had begun to look back to her best this season after two injury-ravaged years, had opened up a 3-1 lead in the first set before world number 118 Knapp stepped up a gear and won five games in a row.She called on the trainer at 3-3 in the second set after locking her right knee in the previous game.<br/>At 5-5 she could barely serve and smashed her racquet on the court in frustration.She still managed to force a tiebreak, which she won 8-6 after saving a match point.<br/>But it went downhill from there and Azarenka threw in the towel after four games in the decider.
Manchester United sacked manager Louis van Gaal on Monday after an FA Cup triumph failed to make up for the club's inability to qualify for the Champions League amid widespread discontent with a season of insipid performances.The Dutchman was dismissed two days after United's win over Crystal Palace in the Wembley Cup final, their first trophy in three years, paving the way for the widely-expected appointment of former Chelsea boss Jose Mourinho as his successor.News of Van Gaal's impending departure from the club leaked out minutes after Saturday's 2-1 extra-time victory over Palace and, following relentless media speculation and a day of negotiations, it was confirmed by both sides on Monday evening."I'd like to thank Louis and his staff for their excellent work in the past two years culminating in winning a record-equalling 12th FA Cup for the club," executive vice chairman Ed Woodward said in a statement on the website of the club owned by the American Glazer family (www.manutd.com)."He has behaved with great professionalism and dignity throughout his time here. He leaves us with a legacy of having given several young players the confidence to show their ability on the highest stage."Van Gaal, though gushing in his appreciation of the chance to manage the club, was not so happy to be moving on."I am very disappointed to be unable to complete our intended three-year plan," he said."It has been an honour to manage such a magnificent club as Manchester United FC, and in doing so, I have fulfilled a long-held ambition."I have been privileged during my management career to have won 20 trophies but winning the FA Cup, which is steeped in so much history, will always be one of the most special achievements of my career."That success, however, could not gloss over a season in which United finished fifth in the standings, missing out on Champions League qualification, and where dull performances had the fans booing their own team even after victories.�<strong>DISGRUNTLED FANS</strongAfter replacing David Moyes two years ago, Van Gaal got the team into the Champions League in his first season.However, United's inability to produce the free-flowing football that characterised Alex Ferguson's trophy-laden reign eventually caused a rift throughout the club and in the stands.For generations of fans brought up to expect high octane attacking football, Van Gaal's stultifying approach was hard to swallow, particularly when it did not work well, after he spent almost 300 million pounds ($434.34 million) on players.This season's dire statistics, beyond the key one of fifth place, are a damning indictment of the Dutchman's tactics.United scored 49 goals in 38 games, in contrast to their previous Premier League average of over 76 and fourth-placed Manchester City's 71.They had the joint-highest number of goalless draws in the division, while Opta noted that United's 430 shots on target was 15th in the 20-team league and they made more backward passes than any other side.It was not just supporters who were disgruntled either.A story in Monday's Guardian newspaper said squad members had talked among themselves about openly defying the Dutchman's rigid tactical directions, which allegedly included instructions to players not to take first-time shots.It also reported that the two most senior players, Wayne Rooney and Michael Carrick, had raised concerns with Van Gaal about his post-match "evaluation sessions" in which he publicly criticised players in front of their team mates�<strong>WIDESPREAD DISSATISFACTION</strongWith such widespread dissatisfaction it easy to forget that the 64-year-old former Ajax Amsterdam, Barcelona, Bayern Munich and Netherlands coach was seen as the safe option when he was hired by United in May 2014 following Moyes's sacking.He got the club back in the Champions League with a fourth-place finish but, despite heavy spending on the likes of Memphis Depay, Anthony Martial and Bastian Schweinsteiger, United stagnated after topping the table at the end of September.French striker Martial apart, the new players struggled to justify their fees, and Van Gaal increasingly turned to talented youngsters such as Marcus Rashford, who has rapidly emerged from United's youth team to earn a place in the England squad.By mid-December United were out of the top four after successive defeats by promoted clubs Bournemouth and Norwich City and they exited the Champions League after finishing third in a modest group behind VfL Wolfsburg and PSV Eindhoven.At home to Southampton United were booed off the pitch and in Denmark the supporters, already frustrated by finding their team playing in the Europa League, chanted obscenities about how bad Van Gaal's side were in a 2-1 loss to FC Midjytlland.Despite recovering with a 5-1 win in the second leg, United then lost to Liverpool in the round of 16.A late challenge for fourth place, the Cup run and the fan-pleasing introduction of the youngsters, bought Van Gaal time but in the bigger picture it was not enough to change the mood.Hovering in the background since his sacking in December has been Mourinho, once the scourge of Old Trafford for Porto and Chelsea but now seemingly about to be welcomed with open arms.The Portuguese is hardly a graduate of the swashbuckling school of football himself but his remarkable record of success across Europe, combined with a larger-than-life personality, mean that, if he is appointed, United fans will at least be able to look forward to next season rather than dreading it.
 �Sri Lankan paceman Dushmantha Chameera will return home from England with a lower back injury, his country�s cricket board announced on Tuesday, compounding the team�s woes on the tour.</strongThe islanders lost pace bowler Dhammika Prasad to a shoulder injury even before the first test at Leeds, which England wrapped up inside three days.Even in that innings and 88-run defeat, the 24-year-old Chameera managed to impress by dismissing top scorer Jonny Bairstow, Moeen Ali and Stuart Broad in England�s first innings."Chameera ... underwent an MRI/CT Scan this morning, which has indicated a stress fracture to his lower back, and medical recommendation is treatment and rest for as much as four months," Sri Lanka Cricket said in a statement.The team would name a replacement soon, it added.Prasad, who has since been replaced by stumper-batsman Kusal Perera, had been undergoing treatment, the board added.The second match of the three-test series begins at Chester-le-Street on Friday.
strong>FIFA has fired its deputy secretary general, Markus Kattner, with immediate effect, soccer's governing body said in a statement.</strongThe statement said that an internal investigation "uncovered breaches of his fiduciary responsibilities in connection with his employment." FIFA said it would not make any further comment.
 Pakistan cricket team's Chief Selector Inzamam-Ul-Haq held a press conference to announce the names of the Skills Camp for the upcoming Pakistan versus England tour. �</strongAddressing media personnel, Inzamam-ul-Haq said Shahid Afridi, Umar Akmal and Ahmad Shahzad were not included in the skills camp.�strong>Pakistan players for skill camp:</strongstrong>Openers</strong>: Mohammad Hafeez (subject to fitness), Sami Aslam, Shan Masood, Khurram Manzoostrong>Middle-order</strong>: Azhar Ali, Younis Khan, Misbah ul Haq, Asad Shafiq, Iftikhar Ahmed, Asif Zakir, Akbar ur Rehmanstrong>Fast bowlers</strong>: Mohammad Amir, Rahat Ali, Imran Khan, Sohail Khan, Junaid Khan, Ehsan Adil, Wahab Riaz (subject to selection)strong>Spinners</strong>: Yasir Shah (subject to fitness), Zulfiqar Babastrong>Wicketkeepers</strong>: Sarfraz Ahmed, Mohammad Rizwanstrong>Pakistan �A� players for skill camp:</strongstrong>Openers</strong>: Sharjeel Khan, Farukh Zaman, Jahid Alistrong>Middle-order</strong>: Saud Shakil, Babar Azam, Umer Siddique, Abdur Rehman Muzammilstrong>All-rounders</strong>: Mohammad Nawazstrong>Fast bowlers</strong>: Hasan Ali, Mir Hamza, Mohammad Abbas, Azeez Ullah, Bilawal Bhattistrong>Spinners</strong>: Mohammad Asghar, Shadab Khanstrong>Wicketkeeper</strong>: Mohamamd HasanInzamam said that he was encountering difficulty in finding all-rounders for the national cricket team. He also said that if Pakistan A team players perform well, they would be considered for the national squad.�Regarding the boot camp, Inzamam said: "The boot camp has benefited our players with regard to fitness. It would further provide much more benefit if it operates for a longer period of time."The chief selector also said that it was not possible for him to select all seven bowlers if they were good. Regarding leg-spinner Yasir Shah, Inzamam said that he would be fit in the next ten days.�Pakistan take on England this summer, which will be their first ever series since 2010. It will be fast bowler Mohommad Amir's first tour to England after his infamous spot-fixing scandal in 2010, which resulted in a five-year suspension for him.��
 �Zaheer Abbas, the president International Cricket Council (ICC), has said that he would ask the Indian cricket board (BCCI) to consider including Pakistani players in the Indian cricket league (IPL).</strongThe former Pakistan Captain known as the Asian Bradman told the reporters in Lahore that if Pakistani players were included in the IPL, �it would raise the importance and status of the league.�Zaheer �Abbas also called for the revival of bilateral cricket ties between Pakistan and India.Mr. Abbas is traveling to India to watch the IPL final in Bangalore on Sunday.�I have accepted the invitation and it is a good opportunity for me to again highlight the importance of resuming bilateral cricket ties although they are obviously subject to government clearances,� he said.He said that if any government hurdles in the way of having a bilateral series exist it should be removed.
strong>Cristiano Ronaldo owes most of his fame and fortune to his exploits with Real Madrid, yet he also remains a hugely influential figure when representing his country.</strongPortugal's results have improved enormously since Ronaldo made his international debut against Kazakhstan as an 18-year-old in 2003.Their recent record at major tournaments is the envy of many bigger countries after they reached the Euro 2004 final, 2006 World Cup semi-finals and the Euro 2012 semi-finals, where they lost to eventual winners Spain in a shootout.Portugal have suffered when Ronaldo, who has captained them since he was 22, has been off-form such as at the last World Cup when he suffered a bout of tendinosis in his left knee in the run-up to the competition.The Madeira-born forward, who makes a point of breaking records, is Portugal's all-time leading scorer with 56 goals in 125 appearances and needs three more caps to beat Luis Figo's record.Nevertheless, the three-time world player of the year has not been above criticism, with most of his goals coming in qualifying matches against weaker opponents and many supporters wondering why he did not take a penalty in the 2012 shootout against Spain.It is, though, hard to imagine Portugal without him and Ronaldo himself says he wants to play for his country until at least the 2018 World Cup and maybe beyond."I don't make plans in my sporting life," he said in February. "If I feel good in three years' time, we will see what happens."
 "Sometimes it is not pretty but he knows how to grind out wins. That is what you get".
strong>England all-rounder Ben Stokes has undergone surgery on the knee injury he sustained during the first test against Sri Lanka, his county Durham said on Tuesday.</strongStokes, 24, tore the cartilage in his left knee while bowling in Sri Lanka's first innings at Headingley last Friday.It is not yet known how long he will be out, but the England selectors had resigned themselves to being without him for the second test at Durham's home ground in Chester-le-Street starting on Friday."The surgery addressed a cartilage tear in the 24-year-old's left knee and was undertaken this afternoon," Durham said on their website."Full details on the length of his absence and rehabilitation will be confirmed in due course."Stokes has become a key player for England, scoring a test- best 258 in South Africa during the winter tour, the fastest test double-century by an England batsman.It included an England test record 11 sixes and Stokes shared a world-record sixth-wicket partnership of 399 with Jonny Bairstow.His place in the squad for the second test has gone to Chris Woakes, who marked his recall with figures of nine for 36 for playing Warwickshire against Durham on Monday.Another England bowler, Reece Topley, who broke his hand batting in his first game for Hampshire in April, has suffered a new injury setback."Reece Topley has been diagnosed with a partial stress fracture of the lumbar spine and will require a significant period of rehabilitation," the England and Wales Cricket Board said on its website."He will miss the next three months and will aim for a return with Hampshire by the end of the season."
 Maria Sharapova is one of four Russian players named to compete in women's singles at the Olympics in Rio, even though she has been suspended from competition after testing positive for the banned substance meldonium.</strong"We will include Sharapova in the team, which we need to announce by 6 June," Shamil Tarpishchev, the International Olympic Committee (IOC) member and president of the Russian Tennis Federation (RTF), told the R-Sport news agency."Whether she competes or not should be decided by the end of the first week of Roland Garros."Five-times grand slam tennis champion Sharapova tested positive for meldonium at this year's Australian Open after it was added to WADA's list of banned substances in January. She was provisionally suspended on March 12.On 13 April, WADA announced that tests taken before 1 March 2016, which showed the presence of less than one microgram of meldonium, would be acceptable and would not lead to any punishment. How much Sharapova had in her system has not been disclosed.The 29-year-old Sharapova was included in the team alongside Svetlana Kuznetsova, Anastasia Pavlyuchenkova and Daria Kasatkina. If Sharapova is not able to compete, her place in the team will be taken by Ekaterina Makarova, the fifth-ranked Russian woman.Last week, Tarpishchev said that Sharapova's situation was "bad" and she may not play again.
 England paceman Stuart Broad believes his new ball partnership with James Anderson has improved a lot in the last two years with their perfect understanding of each other�s role.</strongAnderson and Broad shared 15 of the 20 Sri Lankan wickets to fall at Headingley where the hosts thumped Sri Lanka by an innings and 88 runs in the first test."We�ve actually improved in the last couple of years," Broad, who turns 30 next month, told British media."We�ve always been quite good in communicating, but we�ve taken that to a new level, realising when one of us in on a wicket-taking streak, the other one can apply pressure and not get too greedy, and vice versa."Anderson, 33, claimed 10 wickets against Sri Lanka to take his tally to 443 and become the sixth-highest wicket-taker in tests."Jimmy�s an outstanding swing bowler, as we saw at Headingley when conditions swung.I don�t really swing it - I look to more seam it," Broad added."We feel like we�ve got the experience now to be able to pick up on conditions quickly and not know who�s day it�s going to be."The second match of the three-test series begins in Durham on Friday.
strong>Brazilian investigators have expanded their probe into possible corruption around the staging of the Olympic Games in Rio de Janeiro this August to include all the venues and services financed with federal funds, a lead prosecutor told Reuters.</strongFederal investigations have previously focused on "legacy" modernization projects not directly tied to the Games but this newly disclosed probe includes Olympic Park and the Deodoro area where Olympic venues are located, federal prosecutor Leandro Mitidieri said."It's not just the physical works we're looking at - it is contracts for services, security, everything that used federal funds," he told Reuters from his Rio de Janeiro office late on Tuesday.The Olympics were meant to showcase Brazil's rise as a global power. Instead, they will take place as suspended President Dilma Rousseff faces an impeachment trial, the economy suffers its worst recession since the 1930s, an outbreak of the Zika virus prompts health concerns and a massive corruption scandal infuriates Brazilians.Mitidieri said his team is also investigating what happened to federal funds earmarked for cleaning Guanabara Bay, where Olympic sailing events will take place, and lakes that surround the main Olympic venues in western Rio's Barra neighborhood.Those bodies of water have heavy sewage contamination and remain badly polluted despite promises to drastically improve them as a legacy achievement of the Olympics.Another team of federal prosecutors, along with federal police, is investigating whether the Rio de Janeiro state water utility company Cedae committed environmental crimes by not properly treating sewage in Rio's metropolitan area of 12 million people, Mitidieri said.Rio utility Cedae said it had not been notified about the investigation and could not make a comment without understanding more about the probe.Mitidieri would not say if his team had uncovered any proof of corruption - but he added that detailed announcements about the investigation's results would be made in coming weeks.Five construction firms are building most of the 39 billion reais ($10.8 billion) worth of venues and infrastructure needed for Rio's Olympics. The figure includes at least 1.76 billion reais in federal funds, according to documents from Brazil's federal accounting court.All five companies are caught up in an investigation into price fixing and kickbacks at state-run oil company Petrobras, a two-year probe that has seen scores of top executives and politicians jailed, charged or under investigation.The Petrobras (PETR4.SA) investigation is what led federal police and prosecutors to begin looking at possible corruption tied to the Olympics.Federal authorities have already said they are investigating the Porto Maravilha project, an 8 billion real facelift of Rio's dilapidated port area, and also the expansion of the city's metro line to the Olympic area in Barra.Court files made public in March showed police uncovered documents from executives of Latin America's largest construction firm, Odebrecht SA [ODBES.UL], that referenced 1 million reais in suspected bribes connected to those two big legacy projects.Odebrecht is at the center of the Petrobras scandal and is involved in over half of all Olympic projects by value, according to contracts reviewed by Reuters.A spokeswoman for Odebrecht said by email that the company had no comment to make.Mitidieri declined to provide details on which companies are the focus of the federal probe, though he did note that OAS SA [OAS.UL] and Queiroz Galvao had "a lot of activity" in the Deodoro region of the Olympics. OAS did not respond to requests for comment. A spokeswoman for Queiroz Galvao wrote in an email that the company had not been notified about the investigation and had no further comment.Rio de Janeiro's city government oversees most Olympic construction projects, though a few are financed by the federal or state government. The city government says contracts were mostly funded with private resources and that all bids were overseen by regulators.Rio 2016, the local organizing committee, handles some non-permanent structures like seating, and has a budget of 7 billion reais.The federal government, Mitidieri noted, is by law responsible for any debts the local organizing committee may incur.The Rio 2016 local organizing committee referred questions to the mayor's office.The mayor's office said it would not comment without knowing what exact contracts were under investigation. It added in its emailed response that all contracts were carried out in a transparent manner and that city officials were prepared to provide any clarifications necessary.�
 Australia has resorted to guided missile technology to reduce injuries to their fast bowlers as they seek to reclaim the Ashes from England next year.</strongSteve Smith�s team have been grappling with injuries in their pace attack with Peter Siddle and James Pattinson out of action while Mitchell Starc has just recovered after being sidelined since November when he broke down with a foot fracture.The upcoming tour of Sri Lanka will see the Australian bowlers embrace the "torpedo technology", implanted in a wearable tracking device, according to a media report.With the existing methods only taking into account the number of deliveries bowled and not the intensity and effort required, sports scientists at Australian Catholic University�s School of Exercise Science have developed the technology in response to the current inadequacies."Tagging individual balls with an intensity measure provides both immediate analysis such as identifying effort balls, or potentially a drop in performance due to fatigue, or longer term workload analysis," researcher Dean McNamara said in a statement."Measuring bowling intensity for individual balls or sessions provides context for the acute and chronic workload of the individual bowler, and ultimately the preparedness of the bowler for the maximal workload of the immediate competition."The researchers have also assisted the Wales rugby union team and hoping to expand to other sports.
 Fast bowler Mitchell Starc expects to need a couple of games to get up to express pace but is looking forward to coming back from injury on Australia�s Caribbean tour next month.</strongThe lethal left-armer has been sidelined since November when he broke down with a foot fracture during the day-night test against New Zealand in Adelaide, and missed the World Twenty20 campaign as he recovered from surgery.He will be unleashed for a triangular one-day international tournament against hosts West Indies and South Africa starting on June 5 and is champing at the bit."It�s been coming out pretty well up in Brisbane the last few days and the last couple of weeks, so I�m excited to see what comes about," Starc told reporters in Sydney on Thursday before flying out."It feels like it�s in a good place."I�m not sure if I�ll be back up to top speed straight away, it might take a couple of games as it normally does for fast bowlers coming back."But I�m excited to see how it comes out on the gun, and hopefully a few wickets and a few games under the belt."Starc had surgery to remove bone spurs from the back of his right ankle which had caused him pain for much of the last year.He expects the spurs to return at some point in his career, but said he hoped the issue was "a lot longer down the line".Starc needs 10 wickets from his next six ODIs to become the quickest bowler to reach 100 wickets in the format, with the record held by Pakistan spinner Saqlain Mushtaq."If I�m performing well and taking wickets and winning games for Australia, the rest will take care of itself," he said."Those 10 wickets might come, they might not. But we�re looking for a series win.
 Cristiano Ronaldo says he will be "100 percent" in Saturday's Champions League final as he attempts to fire Real Madrid to a record-extending 11th European Cup and further torment their city rivals, Atletico.</strongThe prolific Portuguese set alarm bells ringing on Tuesday when he ended training prematurely with a knock but was fit to train again the following day.Although Ronaldo scored the final goal in Real's 4-1 extra-time win over Atletico in the 2014 final in Lisbon, he has admitted he was far from at his best due to a hamstring problem and is determined to put in a better performance at Milan's San Siro on Saturday."Cristiano always appears in the games that matter. I'll be at 100 per cent. On Saturday, I'll be in better form than I was in Lisbon," Ronaldo told Spanish television channel La Sexta."In Lisbon, my hamstring was hurting me. It was pretty bad. It was terrible because you know that in certain moments you could give more but you can't because your body doesn't respond."Ronaldo has scored -- and been on the winning side -- in both the Champions League finals he has played in, having also won in 2008 with Manchester United.He is top scorer in this season's tournament with 16 goals and is one strike away from equalling the record tally of 17 he set in 2013/14.Real's all-time top scorer also gave the club a lift before the final by declaring he wants to stay at Real for the long term."Real Madrid would be making a smart decision if they offered me a new contract," he added.Zinedine Zidane's men are without defenders Raphael Varane and Alvaro Arbeloa for the game, while Atletico have a clean bill of health.It's a far cry from the dishevelled state in which Diego Simeone's team arrived at the 2014 final, when they struggled with fitness after a long season and suffered key injuries.On their way to that Madrid showdown Atletico won 1-0 at the San Siro. Real, on the other hand, have never won a competitive game at the stadium in 13 attempts.Defender Diego Godin says Atletico are in better shape than last time around, and thinks his side's team ethic, instilled into them by the charismatic Simeone, could prove key to winning their first European Cup.Godin told Uefa.com: �Our big secret is the effort the team puts in. The way the whole team works to help the defence is incredible."The forwards � Fernando Torres, Antoine Griezmann or Yannick Carrasco � are always with us, defending in our box."That shows how committed we are as a team, and how much we believe in our style of play.�
 Nine-times French Open champion Rafael Nadal unexpectedly pulled out of the French Open on Friday because of a left wrist injury.</strong"I have a problem with my wrist... yesterday I played with an injection, I could play but yesterday night I started to feel more and more pain," the Spanish left-hander told reporters in a hurriedly arranged news conference at Roland Garros."Today I felt I could not move my wrist," added the dejected Spaniard, who showed no signs of the injury during his 6-3 6-0 6-3 second round win over Facundo Bagnis on Thursday.This is the latest setback the 29-year-old Spaniard has suffered in an injury-plagued career. Tendinitis in his knees prevented him from defending his Wimbledon title in 2009, while the 2008 Beijing Olympics gold medallist also missed the 2012 London Games because of injury.Nadal said, however, that he hoped he would be fit to play at Wimbledon next month.<br/><br/
 An untidy shot prevented England�s captain Alastair Cook from grabbing a place in cricketing history on Friday when he was caught at slip for 15 as England reached 83-2 at lunch on the first day of the second test against Sri Lanka.</strongCook needed 20 runs to become the youngest player -- and the first Englishman - to reach 10,000 runs in tests at the age of 31 years, five months and two days but the opener jabbed at a wide delivery from Suranga Lakmal outside the off stump and was caught by Dimuth Karunaratne diving low with England at 39-1.Cook would have beaten Indian Sachin Tendulkar�s record of 31 years, 10 months and 20 days, which has stood since 2005. Only 11 batsmen have achieved the feat.England, who won the first test at Headingley by an innings, won the toss.Cook�s opening partner Alex Hales had made an unbeaten 45 at lunch after losing Nick Compton for nine just before the interval, caught spectacularly on the boundary by Lakmal off the bowling of Nuwan Pradeep at 64-2.It was another rash shot from the England number three, getting a top edge towards long leg, trying to hook outside the off stump.Lakmal hurled himself backwards as he raced towards the boundary and took the catch just before the ropes.Joe Root had scored 12 alongside Hales after 31 overs at the break.
 New Zealand announced their upcoming Test series schedule with Pakistan to be played from November of this year.�</strongAccording to details, Pakistan will tour New Zealand in November for a two-match Test series. The first Test match between the black caps and the green shirts will take place from 17th November 2016 till 21st November 2016 at Christchurch.�The second Test match will be played between the two sides on 25th November at Hamilton.�Pakistan have their hands full with England this summer as they take on the English side from July 14. Pakistan will play four Test matches, five ODIs and one T-20 when they tour England in July.�Pakistan cricket team has appointed a new Chief Selector and a new Head Coach. Batting legend Inzamam-Ul-Haq has taken over as the Chief Selector whereas Mickey Arthur has been appointed as Waqar Younis' successor for the Head Coach post.�Fast bowler Mohammad Amir will be touring England for the first time after his infamous spot-fixing scandal from 2010.�
 left;"><strong>For all soccer's status as a global game, the pool of its top managers is relatively small and the world's leading clubs often have the feel of a tiny, gossiping village with a managerial merry-go-round on the central green.</strong style="text-align: left;">Manchester United are replacing Louis van Gaal with his former assistant Jose Mourinho, a man Chelsea no longer wanted who has frequently clashed with new Manchester City manager Pep Guardiola. style="text-align: left;">Manchester's new double act will also have on their radar Arsenal manager Arsene Wenger -- who struggles to hide his disdain for Mourinho -- champions Leicester's Claudio Ranieri and Liverpool's Juergen Klopp, who was Guardiola's main adversary in Germany. style="text-align: left;">Add in new Chelsea manager Antonio Conte, who has been called "the Italian Jose Mourinho", and the soap opera possibilities in soccer's village become endless. style="text-align: left;">� � What all the central characters share, apart from a clear belief in their own ability, is an elite status which provides a passport to the game's top jobs. style="text-align: left;">Only Frenchman Wenger has chosen to stay put, overseeing Arsenal for almost 20 years and 1,120 games.�The rest are often on the move. style="text-align: left;">England's League Managers' Association has revealed that the average tenure of a Premier League manager is now little more than two seasons, with 11 of last year's 20 starters already kicked out. style="text-align: left;">� � Each new manager knows the clock is ticking on his Premier League career, an understanding that contributes to the bear-pit atmosphere that surrounds many games. Old rivalries are intensified and only the strongest survive. style="text-align: left;">� � "The same small group of managers are employed because they are the strongest brands in the market," said Michael Calvin, award-winning author of Living on a Volcano, a book about modern-day English football managers. style="text-align: left;">� � "In previous generations it was all player-driven but modern-day players are pretty vanilla and so managers have the perceived personality," he added. style="text-align: left;">"The modern-day manager is actually a middle manager in a global corporation, subject to similar restraints in similar industries. The owners are driven by the share price and a pathological desire to avoid brand damage." style="text-align: left;">� � �To do that, Guardiola and Mourinho will have to hit the ground running and start winning immediately. German Klopp believes Spaniard Guardiola will know what to expect after his spells at Barcelona and Bayern Munich. style="text-align: left;">�He will enjoy the league because it is a great league and a real competition and he is a real competitor. That is what he wants," Klopp said. style="text-align: left;">� � Former Barcelona boss Guardiola certainly brings the pedigree with two Champions League titles among his 12 trophies as a manager. What will be fascinating is to see how former Real Madrid manager Mourinho reacts to his old foe. style="text-align: left;">� � In Spain, their old friendship did not survive an often bruising rivalry which Guardiola says he did not have good memories of. style="text-align: left;">� � Relations between the Manchester clubs are not as hostile and Mourinho may chose to play things down, rather than stoke them up as he clearly did in Spain. style="text-align: left;">After all, there are plenty of other big rivals just across the village.�
strong>New Zealand will host their first day-night test when England tour the country in early 2018, pending final approval from both teams.</strongThe twilight match will be played at Auckland's Eden Park, which has not hosted a test since a game with India in 2014. No dates have been confirmed but the tour is likely to fall in a window during February-March."While we can't confirm it yet, it's something we're extremely interested in and working towards," New Zealand Cricket chief executive David White said in a media release on Friday.New Zealand, who played the inaugural day-night test against Australia last year in Adelaide, had hoped to play their first at home early next year against South Africa but the idea was abandoned due to logistical problems.South Africa's board are also mulling a pink ball test with Australia in Adelaide later this year but the Proteas' players have expressed their reticence.New Zealand also confirmed three one-day internationals against world champions Australia from Jan. 30-Feb. 5 next year.Bangladesh will tour for three ODIs, three Twenty20 matches and two tests from Dec. 26-Jan. 24.The limited overs matches, like last year's series against Sri Lanka, will be held over the Christmas-New Year holidays.South Africa begin their tour with a T20 international at Eden Park, where they were beaten by New Zealand in the semi-final of last year's World Cup, before they play five ODIs and three tests.New Zealand will also host a full tour by the West Indies in 2017, limited overs series against Pakistan and three ODIs against Australia before the England tour.
strong>Potent England pace bowling after an unbeaten 155 from Moeen Ali put Alastair Cook�s side in complete control on a one-sided second day of the second test against Sri Lanka in Durham on Saturday.</strongThe tourists faced almost an certain follow-on after they slumped to 91 for eight at the close, still 407 behind England who had posted an imposing 498 for nine declared.Sri Lanka�s batsmen had no answer to an attack which moved the ball off the seam to provide a conveyor-belt of catches for keeper Jonny Bairstow, who took four, and England�s close fielders.Chris Woakes, who recently took nine wickets in an innings for Warwickshire, led the way in helpful conditions with a particularly unsettling spell to take 3-9, including the wickets of Kusal Mendis and Milinda Siriwadana in one over.Stuart Broad also took three wickets, two coming late on as Sri Lanka�s resistance broke. England�s bowlers could not have had a better platform to launch their attack than Moeen�s 207-ball innings, which was his best in tests and his second century against Sri Lanka.At times watchful and then belligerent, Moeen became only the fifth England number seven to reach three figures in tests after being promoted one place in the order to cover for the injured Ben Stokes.The Worcestershire all-rounder moved on from his overnight 28 and made the most of the three lives the tourists gave him on Saturday.Support came from Woakes, who shared a stand of 92, and Steven Finn, who scored just 10 of their ninth-wicket stand of 72. His wicket provided spinner Rangana Herath with momentary cause for celebration as he became only the third Sri Lankan bowler to take 300 test wickets.Moeen reached his 150 with a huge six before Cook declared midway through the second session. For Sri Lanka to get anywhere near such an imposing total was a huge ask and James Anderson, who had taken 10 wickets in the first test, quickly removed opener Dimuth Karunaratne with a ripper that bowled him round his legs.Broad followed up by having Kaushal Silva taken behind by Bairstow and the keeper took further catches to remove Dinesh Chandimal off Anderson and Angelo Mathews and Siriwadana off Woakes.Broad broke Herath�s late resistance via another sharp Anderson catch and removed Shaminda Eranga as England, who won the first test in the three-test series by an innings and 88 runs, stayed on course for another crushing win.Lahiru Thirimanne (11) and Suranga Lakmal (0) were not out at the close.�
strong>Argentina had a scare when Lionel Messi had to be substituted after incurring a back injury during a 1-0 win over rugged Honduras in a Copa America Centenario warm-up friendly on Friday.</strongMessi walked off in pain in the 64th minute in San Juan after a clash with Honduras substitute Oliver Morazan 10 days before Argentina's opening Group D match against Chile.The team later dispelled fears of a serious injury, saying on their Twitter account that Messi had �suffered bruising on the left of his lower back and ribs.�Gonzalo Higuain scored the only goal for Argentina.In other warm-up matches for the June 3-26 tournament in the United States, Edinson Cavani struck twice as Uruguay overcame Trinidad and Tobago 3-1 and title holders Chile were upset 2-1 by Jamaica.Higuain struck after half an hour for Argentina when he received a low cross from the left by Marcos Rojo with his back to goal, turned central defender Maynor Figueroa and chipped left-footed over goalkeeper Donis Escober.Argentina meet Chile in Santa Clara, California, on June 6 and also face Bolivia and Panama in Group D.Uruguay, without the injured Luis Suarez, came from a goal down after Jomal Williams had put the Trinidadians ahead in the seventh minute in Montevideo.Cavani equalized with a 26th-minute penalty for a foul by Weslie John on midfielder Nicolas Lodeiro and put Uruguay ahead in the 39th with a shot from the right at a corner.Matias Vecino, who made his debut against Brazil in a World Cup qualifier in March, increased Uruguay�s lead seven minutes after halftime with his first international goal.Uruguay face Mexico in Glendale, Arizona on June 5 before also meeting Jamaica and Venezuela in Group C.Jamaica, who meet Venezuela in Chicago on June 5, stunned a Chile side fielding several reserves in Vina del Mar scoring through Clayton Donaldson and Simon Dawkins before substitute Nicolas Castillo pulled one back late on.
strong>Marcus Rashford's rapid progress continued as the 18-year-old took 138 seconds to become the youngest player to score on his England debut in a 2-1 friendly win over Australia on Friday.</strongThe Manchester United striker probably booked his place in Roy Hodgson's Euro 2016 squad and his Manchester United team mate Wayne Rooney added a second before substitute Eric Dier headed a late own goal.But the night belonged to Rashford, who netted three minutes into what was only his 19th professional match, stroking the ball first time past goalkeeper Matt Ryan after creating space inside the area at Sunderland's Stadium of Light.Rashford, who also scored on his United debut in February, could have had a second goal minutes later and produced an assured performance before coming off on the hour.Manager Hodgson praised his debutant but refused to confirm whether Rashford will be in the trimmed down 23-man squad that must be named before Tuesday."It was fantastic, he did very well and I am pleased for him on his debut," Hodgson said. "He would not be out of place in anyone's 23."Rashford probably only started against Australia because of an injury to Daniel Sturridge, but Hodgson said he was hopeful the Liverpool striker will recover sufficiently to train with the squad on Monday."If he does, the calf injury will not be a reason to leave him out of the 23," said Hodgson. "None of those decisions (about who to leave out) will be injury-related."Rooney scored a record-extending 52nd goal for his country with a fine strike 10 minutes after the break.
 The final of the Indian Premier League was indeed a nail-biting contest as Virat Kohli's Challengers fell short of chasing the 209-run target set by Warner's Sunrisers.�</strongWhile Gayle and Virat Kohli did add fire to the run-chase earlier on with his 54-run knock as Gayle also chipped in with 76 runs, it fell short of the Sunriser's daunting total of 209. After Virat Kohli was dismissed and Gayle too, no other Challengers' batsman was able to stand tall as even the mighty Shane Watson fell cheaply for 18 runs.�Hence, the Royal Challengers Bangalore could not successfully chase the whole target and had to concede the title to the Sunrisers. This was the Sunriser's maiden IPL trophy as the team had lost out on the coveted�cup in 2009 and 2011 as well.�img alt="" height="255" src="http://apne.thenews.com.pk/assets/front/tiny_mce/source/1.PNG" width="624"/img alt="" height="253" src="http://apne.thenews.com.pk/assets/front/tiny_mce/source/2.PNG" width="625"/�
strong>Martina Hingis and Sania Mirza lost their cool as their hopes of holding all four grand slam titles were dashed following a 6-3 6-2 defeat by Czech duo Barbora Krejcikova and Katerina Siniakova in the third round of the French Open on Sunday.</strongThe Indo-Swiss team dubbed "Santina" were hoping to win four majors in a row after following up last year's Wimbledon and U.S. Open triumphs with victory in January's Australian Open.But the top seeds appeared all at sea on a gloomy day at Roland Garros and their bid to complete the 'Santina Slam' ended after the Czechs blasted a service return winner to break Hingis in the final game.Hingis and Mirza were left fuming at the umpire after a call went against them as they trailed 4-1 in the second set. Mirza tossed the ball in anger but the duo failed to win the argument, or the match, leaving Krejcikova and Siniakova to celebrate a memorable victory.It proved to be a bad day for the big names in doubles as Venus and Serena Williams, who were the last women's team to hold all four majors in 2010, also perished in the third round, beaten 6-3 6-3 by the Dutch-Swedish pairing of Kiki Bertens and Johanna Larsson.
strong>With Rafael Nadal out of the picture this year, Garbine Muguruza, who beat Svetlana Kuznetsova 6-3 6-4 to reach the last eight at Roland Garros on Sunday, is probably the best chance of a Spanish triumph at the French Open.</strongThe fourth seed moved into the quarter-finals for the third year in a row with a solid display as she looks to become the first Spanish woman to lift the Suzanne Lenglen Cup since Arantxa Sanchez Vicario in 1998.Hard hitter Muguruza, who has yet to make it to the last four in Paris, left little breathing space for the Russian 13th seed, the 2009 Roland Garros champion, in a style different to that of Sanchez Vicario, a pure claycourt specialist."I know maybe now I'm more a favourite, but I could have lost two days ago," Muguruza told reporters.The Wimbledon runner-up believes she is now better equipped to go a step further."I think the one thing that I have really improved is not just one type of shot. It's me, generally speaking. It's me -- it's the way I prepare matches," she said."I think I have more experience. When I win I analyse why. When I lose I analyse why. And therefore, I have become a better player, generally speaking."It's not that I have improved my forehand or anything specific."Muguruza peppered the court with winners -- which made up for numerous unforced errors -- and broke decisively on her seventh opportunity to lead 5-3 in the opening set.She closed it out with a booming forehand winner and broke again in the third game of the second set with a service return winner.Kuznetsova saw a lifeline when she broke back to 4-4 as Muguruza started to get inconsistent, only for the Spaniard to break again in the following game with a fine passing shot.Muguruza, however, showed signs of nerves and wasted two match points before serving a double fault. She regained her composure, though, and wrapped it up on her fifth match point when Kuznetsova's backhand sailed long.The Spaniard will next face either American Shelby Rogers or Romanian 25th seed Irina Camelia Begu.
 Real Madrid coach Zinedine Zidane lavished praise on Cristiano Ronaldo after the three-times world player of the year appeared to struggle through the Champions League final against Atletico Madrid on Saturday.</strongRonaldo was subdued for long spells but fired home the winning penalty to give Real a 5-3 success in the shootout following a 1-1 draw after extra time and then performed his shirtless celebration, proudly showing off his muscular torso."He wasn't injured. He gave us the win, he was fine, he fought hard and he ran a lot like everyone in the team," Zidane told reporters. "He has always helped his team mates."Ronaldo scored 16 times in the Champions League campaign to finish as top scorer in the competition for the fourth season in a row, albeit a goal short of the record he set two seasons ago.He has won the Champions League three times, twice with Real and once with Manchester United, but still one fewer than his great rival, Lionel Messi of Barcelona.�We�re really happy, finals are always hard," said Ronaldo. "The side was great and sacrificed a lot. It�s impressive. I knew I was going to score the winning penalty; I was confident."Fromre Real playmaker Zidane, who became the seventh person to win the Champions League as a player and coach, said that work, and more work, was the secret of Real's success."We worked so much," said the Frenchman, the first coach from his country to win the trophy. "I believe a lot in work, work is the most important thing and everyone has done a good job.""We suffered a lot physically and some players had cramp, but it's normal," he added."Mentally, there is a lot of pressure but you have to fight. We have worked a lot and when you get something as big as the Champions (League), it means a lot for the staff and the supporters."
 Real Madrid were crowned European champions for an unprecedented 11th time when Cristiano Ronaldo scored the winning penalty in a 5-3 shootout victory against Atletico Madrid on Saturday.</strongThe Champions league final had finished 1-1 following extra time with Sergio Ramos having bundled the ball home to give Real the lead in the 15th minute with replays showing he was offside.Antoine Griezmann missed a penalty at the start of the second half for Atletico when he fired his shot against the bar.Atletico, beaten in their two previous finals appearances, including the most recent against Real in 2014, suffered a series of let-offs before substitute Yannick Carrasco rifled in the equaliser in the 79th to send the game into extra time.
strong>Lionel Messi, recovering from a bad knock to his back 10 days before Argentina�s opening Copa America Centenario match, was feeling less pain on Saturday, team doctor Daniel Martinez said.</strong�Messi is better, with less pain than last night,� Martinez told reporters after Messi suffered bruising to his lower back and rib cage during Friday's 1-0 friendly win over Honduras.But Martinez added that he could not say how long Messi�s recovery would take.�We�ve got to take it day-by-day... It�s an area where it hurts to move normally, (like) get up, turn and cough,� he was quoted as saying in the Buenos Aires sports daily Ole.Messi was kneed in the back by Honduras substitute Oliver Morazan during a warm-up game for the June 3-26 tournament in the United States played in the Argentine city of San Juan and had to be substituted, walking off in pain in the 64th minute.He missed a light training session on Saturday and was not in any case going to travel with the rest of the squad directly to Santa Clara in California where Argentina meet Chile in their Group D opener on June 6.Messi was instead due to fly to Barcelona, where he has to attend court in a tax evasion case on Thursday, before joining up again with the squad, though Martinez said if it was up to him he would advise him against travelling on Saturday.Argentina also face Bolivia and Panama at the tournament, which marks the centenary of the former South American Championship.
 Alastair Cook became the first Englishman to reach 10,000 test runs before leading his team to an emphatic nine-wicket win over Sri Lanka in the second test on Monday to wrap up the series.</strongCook scored 47 not out as England eased to their target of 79 after Dinesh Chandimal made a fine century to lift Sri Lanka to 475 in their second innings on the fourth day.Having been bowled out for 101 first time round, however, the tourists only delayed the inevitable and England took an unassailable 2-0 lead in the three-match series with a day to spare."It�s a very special moment for me, but the game is not about personal milestones, it�s about winning games and scoring runs to do that," Cook said."But it�s a real special day and it�s great that my family are here to see me do it. "Sri Lanka had resumed on 309 for five and England�s only success in the morning session was the dismissal of Milinda Siriwardana for 35, well caught by Alex Hales at third slip off James Anderson to end a sixth-wicket partnership of 92.Anderson found the inside edge of Chandimal�s bat when the right-hander was on 69 but wicketkeeper Jonny Bairstow spilled a simple chance and the 26-year-old took full advantage, reaching his sixth test hundred with a thick outside edge for four off Chris Woakes.He received excellent support from Rangana Herath in a seventh-wicket stand of 116, Herath making a breezy 61 before he was trapped lbw by Anderson, the England fast bowler�s 450th test victim.Anderson bowled Shaminda Eranga for one to complete another five-wicket haul and Stuart Broad ended Chandimal�s defiant knock on 126 with a clever slower ball that clipped the top of his off stump.Suranga Lakmal was the last man out, skying a catch to Broad off Woakes. Cook, needing five runs to get to 10,000, clipped Nuwan Pradeep to the mid-wicket boundary to reach the milestone before raising his bat to all corners of a sparsely-populated ground.Hales was bowled by spinner Siriwardana for 11 but Cook calmly completed the job with Nick Compton, who finished unbeaten on 22 as he battles to retain his place at number three in the order."Broad and Anderson are world-class bowlers and you�ve got to show a lot of skill to handle them," Sri Lanka captain Angelo Mathews said."It�s just the Sri Lankan fight that we�ve lost in the past couple of weeks and we�re looking to bring back.<br/>There were lots of positives in the last couple of days, Chandimal and Herath showed a lot of character.
 Dinesh Chandimal completed a fine century as Sri Lanka continued to hold up England's bid to clinch the series by moving on to 403 for six at lunch on the fourth day of the second test in Durham on Monday.</strongThe touring side, crushed in the opening test and bowled out for 101 in the first innings, are six runs ahead in the match after losing only one wicket in the morning session.Chandimal, badly dropped by wicketkeeper Jonny Bairstow off James Anderson on 69, was 108 not out at the interval with Rangana Herath on 37.Sri Lanka had resumed on 309 for five and England's only success was the dismissal of Milinda Siriwardana for 35, well caught by Alex Hales at third slip off Anderson to end a sixth-wicket partnership of 92.Anderson found the inside edge of Chandimal's bat but Bairstow spilled a simple chance and the 26-year-old right-hander took full advantage, reaching his sixth test hundred with a thick outside edge for four off Chris Woakes.
strong>Chelsea captain John Terry expects Jose Mourinho to be a success at Manchester United, saying the Portuguese is the right manager to lead the 13-time Premier League champions back into contention for major honours.</strongMourinho, who was named as Louis van Gaal's successor on Friday, will hope to usher in a return to the glory days the club's fans took for granted until Alex Ferguson ended his trophy-laden 26-year tenure with his retirement in 2013.Terry won eight trophies under Mourinho during the 53-year-old coach's two spells at Stamford Bridge."It's fantastic news for Manchester United," Terry said at a charity event on Sunday."I'm sure that United's fans and players will be delighted with that because, as I've said many times before, he's the best manager I've worked under... He'll be great for Manchester United, I'm sure."With a host of highly coveted managers, including Pep Guardiola at Manchester City and Antonio Conte at Chelsea, set to ply their trade in England's top-flight next season, Terry expects exciting times ahead."I think it's great for English football... Jose and Pep Guardiola up in Manchester, Conte coming to Chelsea," the defender added."There's real fight amongst the managers who'll be eager to start well so I think it will be interesting times."United midfielder Michael Carrick has urged Mourinho to prioritise results over an attractive style of play despite British media reporting Van Gaal lost his job because of his side's poor quality of football during his two-year reign."There is going to be change, without doubt. He is coming in and he is his own man, he's got an unbelievable track record. I know there is a lot of talk about styles, but it is about winning," Carrick told British media."You have to be number one, you have to be winning trophies, and if you can do that with a bit of style and a bit of flair then obviously that's the perfect match but, first and foremost, it is about winning and getting back on top."United missed out on Champions League qualification for the second time in the last three seasons after they finished fifth in the table. However, they did win the FA Cup in Van Gaal's final game in charge, a 2-1 victory over Crystal Palace.
 Australia's search for a successor to Shane Warne is yet to bear fruit nearly a decade after he retired, so Adam Zampa is naturally wary about comparisons with the leg-spinning great.</strongThe 24-year-old has been picked in Australia's squad for the triangular one-day international tournament in the Caribbean and will battle off-spinner Nathan Lyon and slow-bowling all-rounder Glenn Maxwell for a place against West Indies and South Africa.Unheralded only a few months ago, Zampa first made his mark in the most unusual of circumstances when he 'ran out' a batsman with his nose when playing for Melbourne Stars in Australia's 'Big Bash' league.A good performance in the that tournament led to a spot in Australia's World Twenty20 squad and after making his ODI debut against New Zealand in February, Zampa impressed in the Indian Premier League (IPL) at new franchise Rising Pune Supergiants.His bowling action and run-up have been compared to Warne's, which has further fuelled the hype, but the New South Welshman says that is where the similarities end."There's only ever going to be one Shane Warne," Zampa told Australian media."The attributes he had, how strong he was, his leg-spinner was unbelievable and to be able to bowl that leg-spinner for as long as he did for five days for his whole career was something unbelievable."People do look at me and think I look a lot like him but I think the only thing that would be similar is the smoother run-up. It's a nice comparison but I don't really think about it that way."strong>FAILED EXPERIMENTS</strongSince Warne's retirement after the final Ashes test against England in 2007, Australian selectors have barely flirted with leg-spin.Victorian Bryce McGain lasted one test in 2009, promptly discarded after going wicketless for 149 runs against South Africa in Cape Town.Early in his career, incumbent captain Steve Smith was picked as a leg-spinning all-rounder against England in the 2010-11 series but later shelved his bowling to concentrate on becoming an elite batsman.Left-arm wrist-spinner Beau Casson briefly stepped into the spotlight when he was selected for a match against West Indies on the 2008 tour but duly fell into a form rut and was never looked at again.Lyon has since cemented himself as Australia's premier slow bowler and Zampa missed out on a place in the test squad to tour Sri Lanka in July and August.Zampa, however, hopes to impress ahead of next year's tour of India, where he has shown his comfort with South Asian pitches."The white ball at the moment is probably something I'm concentrating on but if I keep improving, I feel like it doesn't matter what format you're playing," he said.Australia play the first ODI against West Indies in Providence, Guyana on June 5.
 Play was called off for the day at Roland Garros at 1650 GMT on Tuesday as rain frustrated players and fans alike for the second successive day at the claycourt major.</strongA day after the tournament suffered its first total washout for 16 years, only two hours of play was possible on day 10 of the championships as players such as world number one Novak Djokovic and holder Serena Williams remain stranded in the fourth round.Djokovic was 3-6 6-4 4-1 up against Roberto Bautista Agut in their fourth-round match. The Serbian top seed lost the opening set to the 14th-seeded Spaniard on Court Philippe Chatrier when play was halted at 12:47 pm local time for the first time.After an interruption lasting two hours and 45 minutes, the players resumed and Djokovic wasted no time in regaining the lead, only for the match to be stopped again.Second seed Agnieszka Radwanska lost 2-6 6-3 6-3 to Bulgarian Tsvetana Pironkova and Australian Samantha Stosur beat Romanian sixth seed Simona Halep 7-6(0) 6-3.Play started an hour late as rain continued to fall on Paris.Holders Serena Williams and Stan Wawrinka and British second seed Andy Murray, who takes on local favourite Richard Gasquet in the quarter-finals, did not even get a chance to get on court.
 �Alastair Cook has the potential to move ahead of Indian great Sachin Tendulkar as the world�s all-time leading test run-scorer, England head coach Trevor Bayliss has said.</strongCook became the first Englishman and 12th batsman ever to pass 10,000 runs during the second test against Sri Lanka on Monday.At 31 years, five months and five days, Cook became the youngest player to reach the landmark but the left-hander has some way to go to surpass Tendulkar, who made more than 15,000 test runs."It will be about how long he wants to keep doing it.But certainly there is time on his side, so there is no reason he couldn�t if his heart is still in it and his will to do it is still there," Bayliss told British media."He is right up there with any of the best international players.He has these powers of concentration.He is not the biggest stroke-player of all time - (but) he knows his game very well, he is very patient and he sticks to it."To be able to do that over the period of time he has played and score as many runs as he has is a fantastic effort."England, 2-0 up in the series, play Sri Lanka in the third and final test at Lord�s starting on June 9.
 Only three Pakistanis won places in the International Cricket Council (ICC) Player Rankings released on Tuesday.</strongIn the ICC Player Rankings for Test Batsmen Pakistan�s Younis Khan is placed on 5th position with an average of 53.94 and 826points followed by Test Skipper Misbah ul Haq on the 10th spot with an average of 48.89 and 764 points, said a press release issued here.In the ICC s Player Rankings for Test Bowlers Yasir Shah of Pakistan is ranked 4th with an average of 24.17 and 846 points.However England�s James Anderson has topped the Rankings for Test Bowlers for the first time in his career after bowling his side to a nine wicket victory over Sri Lanka in the second Test at Chester le Street on Monday.Other bowlers to improve their rankings post the Chester le Street Test are Nuwan Pradeep (43rd up by five places) Milinda Siriwardana (50th up by 13 places) and Chris Woakes (73rd up by 16places).In the batting table England�s Moeen Ali has achieved a career high ranking.The left handed batsman scored 155 not out his career best score in 25 Tests which helped England to declare its first innings at 498 for nine.For this achievement Ali has earned82 points that has lifted him 12 places to a career high 35thposition in the MRF Tyres ICC Player Rankings for Test Batsmen.Australia captain Steve Smith is the number one ranked Test batsman followed by Joe Root of England and New Zealand s Kane Williamson.The Test player rankings will now be updated after the Lords Test between England and Sri Lanka.Batsmen (top 10) include Steve Smith (Australia 1st) Joe Root (England 2nd) Kane Williamson (New Zealand 3rd) Hashim Amla (South Africa 4th) Younus Khan (Pakistan 5th) AB de Villiers(South Africa 6th) Adam Voges (Australia 7th) David Warner (Australia 8th) Angelo Mathews (Sri Lanka 9th) and Misbah ul Haq (Pakistan 10th).Bowlers (top 10) James Anderson (England 1st)Ashwin(India 2nd) Stuart Broad (England 3rd) Yasir Shah (Pakistan 4th) Dale Steyn (South Africa 5th) Ravindra Jadeja (India 6th) Trent Boult (New Zealand 7th) Josh Hazlewood (Australia 8th) Morne Morkel (South Africa) and Vernon Philander (South Africa 10th).
 England�s fast bowler James Anderson has leapfrogged his new-ball partner Stuart Broad to become the No. 1 Test bowler in the ICC rankings.</strongThis is the first time Anderson has occupied the top of the table in his Test career, which began in 2003, ESPN cricinfo reported Tuesday.Anderson has picked up 18 wickets in the first two Tests of the ongoing home series against Sri Lanka, collecting 79 points in that period and gaining four spots in the rankings.His figures of 3 for 36 and 5 for 58 in the second Test in Chester-le-Street gave him 30 points, and moved him above Broad and India offspinner R Ashwin. Broad, who took five wickets in the second Test, dropped three points and slipped behind Ashwin to third place.Moeen Ali, who scored a career-best unbeaten 155 in England's first innings, achieved his highest batting ranking, jumping 12 places to No. 35. He has also moved to sixth on the allrounders' list, and sits a point behind his team-mate Ben Stokes.
 Sri Lanka fast bowler Shaminda Eranga has been reported for a suspect action during the second test defeat against England in Durham, the International Cricket Council (ICC) said on Tuesday.</strong"The match officials� report, which was handed over to the Sri Lanka team management, cited concerns about the legality of the 29-year-old�s bowling action," the ICC said in a statement."He is required to undergo testing within 14 days, and, during this period, Eranga is permitted to continue bowling in international cricket until the results of the testing are known."Eranga has taken 53 wickets in 18 tests for Sri Lanka but could not add to his tally at Chester-le-Street on Monday, where his team lost to England by nine wickets, allowing the hosts to take an unassailable 2-0 lead in the three-test series.
strong>Sweden missed the influence of captain Zlatan Ibrahimovic, who was resting a sore calf muscle, as they struggled to create chances in a dull 0-0 draw with Slovenia in their penultimate Euro 2016 warm-up in Malmo on Monday.</strongWith their record scorer on the bench and many other players yet to join the squad, Sweden coach Erik Hamren fielded an experimental lineup bearing little resemblance to the one that will kick off their campaign against Ireland on June 13.Hamren gave Celta Vigo striker John Guidetti a chance to stake a claim for a starting spot alongside Ibrahimovic and the 24-year-old put in an energetic performance, almost breaking the deadlock with a curling second-half shot that flew just over.Sebastian Larsson also took a free kick from a dangerous position for the Swedes, but he too could not keep the ball down and it flew harmlessly over the bar.With midfielder Kim Kallstrom resting a tight groin and Albin Ekdal still recovering from a back injury, Sweden lacked a player with the passing ability to unlock Slovenia's defence.The visitors threatened several times on the break but goalkeeper Andreas Isaksson, having been made captain in Ibrahimovic's absence, was in no mood to spoil the occasion by conceding a goal.With lots of empty seats at the Swedbank Stadium, the biggest cheers on the night were reserved for hometown favourite Ibrahimovic, whose every appearance on the big screens was met with rapturous applause.Sweden take on fellow Euro 2016 finalists Wales in their final pre-tournament friendly in Stockholm on Sunday before heading to France, where they will face Italy and Belgium as well as Ireland in Group E.
strong>Striker Marcus Rashford has signed a new contract at Manchester United which will keep him at Old Trafford until 2020 with an option to extend for a further year, the club said on their website on Monday.</strongThe 18-year-old United academy graduate scored eight goals in 18 appearances this season, including two on his debut against Midtjylland in the Europa League.He followed up with two goals against Arsenal and scored the winner in the Manchester derby against City in March."I am delighted to have signed a new contract. I have always been a Manchester United fan, so to be playing in the first team really is a dream come true," Rashford said."I am grateful for having the chance to prove myself. To be able to play football at the biggest club in the world means everything to me and my family."The emergence of Rashford under former manager Louis van Gaal was one of few positives for United in a disappointing campaign in which they finished fifth in the Premier League."Marcus is a naturally talented footballer with great potential. He has taken his chances well and has integrated into the first team very quickly," United's Executive vice chairman Ed Woodward told the club's website."I am delighted that Marcus has signed a new contract, he is at the right club to continue his development."Rashford's performances caught the eye of England manager Roy Hodgson, who named the youngster as a surprise pick in his 26-man provisional squad for the European Championship.Rashford became the youngest player to score on his England debut, when he netted 138 seconds into his first senior start in the 2-1 win over Australia on Friday.Left back Cameron Borthwick-Jackson also signed a new contract, keeping him at the club until 2020, with an option of extending for a further year."I have grown up at United and have enjoyed every minute of being here. Last season was an incredible experience to make my first team debut and a dream come true for myself and my family," the 19-year-old said."I will continue to work hard and take advice from the manager and his coaching team to improve with every training session."
 British boxer Amir Khan Wednesday hailed the decision to allow professional boxers at the upcoming Olympic Games in Rio de Janeiro, saying he would love to represent the country of his parents� birth, Pakistan.</strongKhan, born and raised in Bolton, England, won a silver medal in the lightweight category of the 2004 Athens Olympics before turning professional a year later.But Wednesday�s ruling by boxing�s governing body at an extraordinary congress in Lausanne, Switzerland that professional boxers can compete at the upcoming Olympic Games in Brazil, rekindled Amir�s dreams of glory."It�s a decision which I welcome," Khan said at a press conference at a promotional event in Karachi."It will help boxers and if I am permitted as per rules and from my promoter then I would love to compete for Pakistan."His father Sajjad Khan hails from Matore village near Kahuta, home to Pakistan�s nuclear facilities and close to the capital Islamabad. He migrated to Britain, where Khan was born in 1986.Khan said he has roots in Pakistan and wants to serve the country."I will be very happy if I can compete in Olympics. I want to serve Pakistan," said Khan, who has been scouting boxing talent in the country for the last few years.But Khan�s younger brother Haroon�s dreams of representing Pakistan in the 2012 London Olympics after being snubbed at home were blocked by boxing�s governing body AIBA as he had represented Great Britain at junior level.Haroon had represented Pakistan in the 2010 Commonwealth Games in Delhi, India where he won a bronze medal in flyweight event.Seven Pakistani boxers will compete in the last qualifying rounds in Baku, Azerbaijan, but they stand little chance of reaching the Rio Games.Pakistan�s last appearance in the boxing event came at the Athens Games in 2004.Pakistan Boxing Federation secretary Iqbal Hussain said he was thrilled at the prospect of Amir representing the country."I have to check the rules whether Amir can compete or not but it would be a huge boost for us if it happens because he is our hero," Hussain told AFP.
 India will begin their ICC Champions Trophy title defence with a mouthwatering Group B clash against arch-rivals Pakistan in next year�s tournament in England, the International Cricket Council (ICC) announced on Wednesday.</strongSecond in importance only to the World Cup and featuring the top eight teams in the world, the 2013 edition was supposed to be the last but the ICC decided it should continue.The eighth tournament will feature 15 matches across three venues in England and Wales with The Oval hosting the June 18 final.Hosts England will take on fast-improving Bangladesh in the June 1 opener, also at The Oval, according to the fixture schedule announced on Wednesday.Group A also contains twice winners Australia, who begin their campaign against trans-Tasman rivals New Zealand in a repeat of last year�s World Cup final in Melbourne in which the hosts prevailed.Apart from India and Pakistan, Group B also includes former champions Sri Lanka and South Africa.The top two from each group progress to the semi-finals at Cardiff and Edgbaston on June 14 and June 15 respectively."Having won the event in 2013, we know how intense this event can be and we are under no illusion that it will be any different next year," India captain Mahendra Singh Dhoni said in an ICC statement."In the ICC Champions Trophy, it doesn�t matter which other sides are in your group or who your semi-final or final opponent is."You have limited time and the key to success is consistency, and being on top of your game each time you step out on to the field.There is very little room for error."England are hosting the tournament for the third time, having reached the finals in 2004 and 2013."The ICC Champions Trophy is an elite ODI competition, contested by the sport�s top eight ranked sides featuring the finest 50-over cricketers," England captain Eoin Morgan said."As professionals, we want to be involved in such intense competitions where our individual and team skills are tested almost each day."Group A: Australia, New Zealand, England, BangladeshGroup B: India, South Africa, Sri Lanka, Pakistan.
 Champion Serena Williams swatted aside the limp challenge of Elina Svitolina 6-1 6-1 on Wednesday, to reach the quarter-finals of the French Open.</strongThe world number one rarely sparkled on a damp, dank centre court at Roland Garros, but always wielded enough firepower to see off the Ukrainian 18th seed in a match that was delayed by two days due to the fickle Parisian weather.Empty green seats outnumbered raincoat-clad fans by around five to one on the Parisian showcourt, and the heavy, slow balls meant there was little artistry to entice greater numbers.Although spluttering from time to time -- Williams fired the odd serve alarmingly long; netted the occasional simple groundstroke -- the top seed always did enough to neuter her scurrying opponent.The American will play Carla Suarez Navarro or Yulia Putintzeva for a spot in the semis.
 The MRI report of opener Mohammad Hafeez injury has been found to be satisfactory after which the player�s visit to England for treatment has been called off.</strongThe 35 year old picked up the injury during the Asia Cup in Bangladesh.Despite the knee problem Hafeez went on to participate in the World Twenty20 in India where he aggravated his injury and missed two group stage matches against New Zealand and Australia.According to reports the MRI scan report has come out satisfactory after which the player has cancelled his visit abroad for treatment.Pakistan Cricket Board (PCB) has handed over Hafeez�s case to the team�s physiotherapist.However the player would be re examined after one week.However a PCB official when contacted discarded all such reports and said that Hafeez�s MRI report has yet to come.If Hafeez report comes unsatisfactory then he will be going to England for the knee treatment and his participation will also be in doubt for the series against the English team, he said.The knee muscular problem Hafeez is suffering from is best treated in England, he said.Hafeez had missed the two week fitness training camp organized by PCB at Kakul.The chief selector Inzamam ul Haq named Hafeez the veteran of 47 Tests 177 ODIs and 77 T20s in the 21 probable players list for a week long skills camp for the tour of England.Pakistan will tour England in June for four Tests five ODIs and a one Twenty20. The first Test will kick off on July 14.
 Sri Lankan pace bowler Nuwan Kulasekara quit test cricket on Wednesday in order to focus his attention on the sport's shorter formats, in which he is considered a greater threat with the ball.</strong"I would like to retire from playing test cricket with immediate effect," the 33-year-old said in a letter to Sri Lanka Cricket (SLC)."After much thought, I believe it is the right time to retire and I hope it will allow me to better prepare for ODI and T20 cricket, which I would like to continue playing for Sri Lanka subject to good performance and selection."Despite lacking express pace, Kulasekara made the most of his ability to swing the new ball to claim 48 test wickets since his 2005 debut against New Zealand in Napier.Kulasekara played the last of his 21 tests against England at Lord's two years ago but has been a standout performer in one-dayers, with 186 wickets from 173 matches, and was ranked the top ODI bowler in March 2009.
 Anthony Lopes (Olympique Lyon), Eduardo (D�namo Zagreb), Rui Patricio (Sporting)Defenders: Bruno Alves (Fenerbah�e), Cedric (Southampton), Jose Fonte (Southampton), Eliseu (Benfica), Pepe (Real Madrid), Raphael Guerreiro (Lorient), Ricardo Carvalho (Monaco), Vieirinha (VfL Wolfsburg).Midfielders: Adrien Silva (Sporting), Joao Mario (Sporting), William Carvalho (Sporting), Andre Gomes (Valencia), Danilo Pereira (Porto), Renato Sanches (Benfica), Joao Moutinho (Monaco)Forwards: Cristiano Ronaldo (Real Madrid), Eder (Lille), Nani (Fenerbahce), Rafa (Braga), Ricardo Quaresma (Besiktas)
 Pakistan paceman Mohammad Amir, who spent time in jail and served a five-year ban for spot-fixing, will be able to handle the pressure of returning to England if he is granted a visa for their upcoming tour, said team mate Azhar Ali.</strongAmir was considered one of the most exciting fast bowlers in the world before a 2010 spot-fixing scandal that resulted in bans and jail sentences for him, former test captain Salman Butt and fast bowler Mohammad Asif.The trio were cleared to return to the sport by the International Cricket Council (ICC) last September after serving suspensions.The Pakistan Cricket Board has requested a visa for Amir, who has already toured New Zealand for a limited over series, played in the Asia Cup in Bangladesh and featured in the World Twenty20 in India since serving his ban.Azhar had offered his resignation as one-day captain when Amir was brought back into the Pakistan fold but is now keen to move on and says the team will support the 24-year-old quick if he needs it in England."(What happened in) 2010 is in the past and now we need to look forward," Azhar told reporters on Tuesday."It has been a while now since he has been with us.It could have been tough, had he come in straight on such a tour, but now, after playing with us for a long time, things have settled."Even he isn�t under pressure because he has already made his comeback a few months ago and the toughest phase is over for him," Azhar said."I know England was the place where the incident happened but hopefully he can handle the pressure like he did on his comeback.But still if anything happens, we, as a team, will handle it."Pakistan will play four tests, five one-dayers and a Twenty20 International in England between July 14 and Sept.
strong>Manchester United manager Jose Mourinho will not stoke his rivalry with fellow new recruit Pep Guardiola at Manchester City next season because it could damage his team's Premier League title hopes, he said on Tuesday.</strongMourinho and Guardiola had a fractious relationship when the Portuguese was in charge of Real Madrid and the Spaniard was at the helm at Barcelona during the 2010-11 and 2011-12 seasons."My experience does not allow me to be naive. What I mean by that is that I was with Pep for two years in a championship where the champion was either him or me, Real Madrid or Barcelona," Mourinho told an event at the Faculty of Human Kinetics in Lisbon."In a situation like that individual battles make sense because they can have an influence. If, in the English Premier League, I focus on him at Manchester City and he on me at Manchester United, another team will win the title."The new United and City managers face an early confrontation when their sides meet in a friendly in Beijing on July 25.Mourinho, who replaced the sacked Louis van Gaal, and Guardiola, who is taking over from Manuel Pellegrini, will renew hostilities in the pre-season International Champions Cup.United will be trying next term to make up ground on their neighbours who have finished above them in the Premier League for the past three campaigns since manager Alex Ferguson stood down.Last season City were ahead on goal difference but pipping United to fourth position meant they took the final Champions League qualifying place, leaving the Old Trafford club to settle for a spot in the Europa League.Mourinho said he could not afford to focus on Guardiola if he wanted to bring the title back to United for the first time since 2013."Look at the Bundesliga ... in the last five years the same team won the title four times and in France the same team won the last four," he said."In Spain Atletico (Madrid) won once and Barcelona the other three. In England there have been four different champions in the last four years."That says a lot about the competitiveness. The fact it has the biggest television rights and that the television revenues are distributed in the way that they are, allows the league to grow as a competition whereas, in the other leagues, the sharks are always the sharks," added Mourinho.
strong>The trial of Lionel Messi on charges of tax evasion opened in Barcelona on Tuesday, but injury prevented soccer's five-times World Player of the Year from attending. The Barcelona star will be in court on Thursday to testify.</strongMessi and his father, Jorge Horacio Messi, are accused by the Spanish tax office of defrauding the government of 4.2 million euros ($4.7 million) between 2007 and 2009. They could face jail terms of up to 22 months if found guilty.Both have denied the allegations and missed Tuesday's hearing, which lasted over an hour. The 28-year-old player and his father are not obliged to attend the court every day, but they will have to testify on Thursday."The intention of Mr. Lionel was to attend the plenary hearing, but he has suffered an injury," Messi's lawyer, Javier Sanchez-Vera, said in court. He presented a medical report.The Barcelona forward hurt his back during Argentina's international friendly against Honduras last Friday. Asked by the judge whether Messi would attend Thursday's hearing, the lawyer said he would.The case centres on the player's image rights and a web of shell companies allegedly used to evade taxes on income from those rights. Tuesday's hearing showed that Spain's tax office made 20 inspections of Messi during its two-year investigation.According to the prosecutors' office, revenue was hidden using shell companies in Uruguay, Belize, Switzerland and the United Kingdom.Messi and his father paid five million euros to the tax authorities as a "corrective" measure after being formally investigated in June 2013.In addition to Messi, Spain's tax office has also begun investigating the finances of high-profile Barcelona players such as Neymar Jr, Javier Mascherano and Adriano.A resident in Barcelona since 2000, Messi became a Spanish citizen in 2005. He is 10th on Forbes Magazine's list of the world's highest-earning athletes over the past decade, with an income of $350 million.Messi has scored 314 goals in 348 appearances for Barca. His five World Footballer of the Year titles are a record.He has also won eight La Liga titles, four Copa del Rey trophies and four Champions League crowns with Barca.
 Determined opener Shan Masood on Thursday vowed Pakistan were ready to take up the stiff challenge in a Test series in England, where sub-continent batsmen have struggled in the past.</strongPakistan play a four-match Test series, starting at Lord�s from July 14 followed by five one-day and a Twenty20 international.Only four Pakistan openers � Mohsin Khan, Mudassar Nazar, Amir Sohail and Saeed Anwar � have scored hundreds in the 47 Tests the country has played in England, where the ball swings and seams to pose a threat for the batsmen.Pakistan have managed just three opening partnerships of over 100 in England, two in 1996 and one in 1992.Masood, 26, said Pakistan have trained well. �We are well prepared to take the challenge,� Masood told media on the sidelines of the training camp.�We had a boot camp where we worked on fitness and now we are training in Lahore where we are getting the conditions, except the weather, which we will have there in England.�A final Test squad is expected to be announced early next week, and the team will hold tune-up camp in England from June 15.Masood, who hit his only century in Sri Lanka last year where Pakistan chased their biggest target of 377, said England is the place where a batsman can make his name.�If you see England captain Alastair Cook has just completed 10,000 runs in Tests. (Graeme) Smith and Hashim Amla (of South Africa) have scored runs in England and I will also try to give good performance in England and make name for my country,� said Masood, who has previously played first-class games in England.�My best experience there was that I played three first class matches through my university,� said Masood, who studies Sports Management Science in Loughborough University.�It does help, but it will be different ball game at international level, everyone knows England team is very good and we have to take our A game there.�Pakistan will be up against a potent fast bowling attack of James Anderson, Stuart Broad, Steven Finn and Chris Woakes who have pushed touring Sri Lanka 2-0 down in the ongoing three-match series.Anderson, who completed 450 Test wickets in the second Test, dismissed Masood in all four innings in Pakistan�s 2-0 win in United Arab Emirates (UAE) last year.
strong>German midfielder Ilkay Guendogan has joined Manchester City from Bundesliga side Borussia Dortmund on a four-year deal, the Premier League club announced on Thursday.</strongThe 25-year-old, who had a year remaining on his Dortmund contract, is the club's first signing since they confirmed Spanish coach Pep Guardiola would take over at the Etihad from Manuel Pellegrini prior to the start of next season.City did not disclose financial details of the deal but British media reported that Guendogan would cost the Premier League club around 20 million pounds ($29 million)."I'm thrilled to have signed for Manchester City," Guendogan said in a statement on City's website."The opportunity to work with a coach like Pep Guardiola is something I am really looking forward to and I am flattered to be the first signing the club has made this summer."The injury-prone German international dislocated a kneecap in training in May, ruling him out of the 2016 European Championships in France.Guendogan, who also missed the 2014 World Cup with a back injury, made more than 150 appearances in five years at Dortmund after being recruited by Juergen Klopp, who is now in charge of Liverpool.The midfielder was part of Klopp's Dortmund side that won a domestic double in Germany in the 2011-12 season and reached the Champions League final in 2013, where they lost to Bundesliga rivals Bayern Munich."We celebrated many victories and stood together in moments of defeats," Guendogan said in a farewell note to Dortmund posted on his official Twitter page."I am very thankful to all my team mates and to the fans who always supported me."
strong>Soccer's five-times World Player of the Year Lionel Messi arrived at a court in Barcelona on Thursday to testify against charges of tax evasion.</strongA few bypassers applauded the arrival of the Argentina and FC Barcelona player while several people shouted at him, but in contrast to when he appeared at a local court in 2013 to give evidence, there were no Barcelona supporters present.Messi and his father, Jorge Horacio Messi, entered the court immediately without speaking to reporters.The trial began on Tuesday although Messi missed the first and second day, which he was not obliged to attend, citing a back injury sustained in Argentina's international friendly with Honduras last Friday.Lionel and Jorge Horacio Messi are accused by the Spanish tax office of defrauding the government of 4.2 million euros ($4.7 million) between 2007 and 2009.They could face jail terms of up to 22 months if found guilty, although it is customary in Spain that offenders of non-violent crime with a sentence of under two years do not serve time in jail.The case centres on the player's image rights and a web of shell companies allegedly used to evade taxes on income from those rights.Tuesday's hearing showed that Spain's tax office made 20 inspections of Messi during its three-year investigation.According to the prosecutors' office, revenue was hidden using shell companies in Uruguay, Belize, Switzerland and the United Kingdom.Messi and his father paid five million euros to the tax authorities as a "corrective" measure after being formally investigated in June 2013.Spain's tax office has also begun investigating the finances of Messi's Barcelona team-mates Neymar Jr, Javier Mascherano and Adriano.Mascherano accepted a one-year prison sentence for tax evasion as part of a plea bargain in January, although is not expected to serve time in jail.Messi moved to Barcelona from his birth place of Rosario, Argentina in 2000, becoming a Spanish citizen in 2005.He is 10th on Forbes Magazine's list of the world's highest-earning athletes over the past decade, with an estimated income of $350 million.Messi has scored 453 goals in 531 appearances for Barca in all competitions.He has also won eight La Liga titles, four King's Cups and four Champions League crowns with Barca, leading them to a league and cup double last season.Messi is also captain of Argentina and will rejoin the team immediately after his court appearance to prepare for the Copa America in the USA, playing their first game against holders Chile on Jun. 7. ($1 = 0.8971 euros)
 Mustafizur Rahman�s participation in the English Twenty20 tournament for Sussex was thrown into doubt Thursday after Bangladesh cricket officials said they feared the paceman may be suffering from burnout.</strongThe 20-year-old bowling sensation, nicknamed Fizz, returned home this week to a hero�s welcome after helping Sunrisers Hyderabad win their maiden Indian Premier League title with 17 wickets from 16 matches.Rahman was named emerging player of the tournament, the first foreign cricketer to be bestowed with the honour, after conceding just 6.9 runs per over, the most miserly among those who bowled in at least 10 matches.He is scheduled to join English county side Sussex next week after signing as their second overseas cricketer in March for the NatWest T20 Blast and the Royal London One-Day Cup.But his participation appeared to hit a stumbling block after the Bangladesh Cricket Board said they would first assess his health before allowing him to join the English side."We will assess his condition next week before making a final decision on whether he�ll be allowed to play in England," BCB chief executive officer Nizamuddin Chowdhury told AFP.Bangladesh national team physio Baizidul Islam said Rahman did not aggravate any of his injuries in the IPL, but that the board were worried over his recent workload."We must consider that he played 19 matches in two months after recovering from injuries," Islam said."So there must be some fatigue. He also developed some problems in his right ankle which is creating a problem for his landing after completing a delivery," he said."He needs some rest to remove the stress. If he continues like this he may collapse any time. We need to assess him carefully to see how long he needs to stay away from cricket," he added.Rahman missed two Twenty20 internationals against Zimbabwe in January for a shoulder injury, which also kept him sidelined for the first edition of the Pakistan Super League in the United Arab Emirates.He returned home for the Asia Cup but picked up a rib injury during a match against Sri Lanka to miss the final and then four matches in the subsequent ICC World Twenty20 in India.Fans gave Rahman a warm reception on Monday after his successful stint in the IPL made headlines at home.A deputy minister called him a "national hero" as he and hundreds of fans received him at the airport with a crown of red roses.
00 pm."So that's the reason why we should have the roof here," added the Serb, who joined the likes of golfer Tiger Woods and boxer Lennox Lewis in the $100 million club.However, rather than getting worked up about the French Open not having any court cover like the other three majors, it was the organisers' decision to make the players compete in misty rain on Tuesday that overshadowed Wednesday's on-court action.Serena Williams, who like Djokovic was bogged down in the fourth round for more than 48 hours, booked her place in the quarter-finals by walloping Ukrainian 18th seed Elina Svitolina 6-1 6-1. She will next face Kazakhstan's Yulia Putintseva.In the bottom half of the men's draw, Andy Murray doused some early fireworks from Frenchman Richard Gasquet to win 5-7 7-6(3) 6-0 6-2 to set up a blockbuster semi-final against holder Stan Wawrinka. The Swiss beat Albert Ramos (Spain) 6-2 6-1 7-6(7).�<strong>RAIN PLAY STILL A HOT TOPIC</strongBut the hot topic of the day remained what the organisers did, or did not do, on Tuesday.Djokovic's victim Bautista Agut said officials had "pushed us to play two hours yesterday" -- the threshold needed to avoid reimbursing money to ticket-holders -- while Venus Williams labelled the conditions "really bad" after being ambushed 6-2 6-4 by Switzerland's Timea Bacsinszky."The conditions were not playable yesterday. It's hard to see. The balls are wet, the courts are wet," said the American, whose defeat ended hopes of an all-Williams semi-final.French Open director Guy Forget defended the tournament's actions."I understand that not refunding spectators .... has caused frustration and anger," he said."If what we are being accused of were true, it would have been in our best interests to stop play before the one-hour, 59-minute mark as our insurer would have been responsible for ticket reimbursement."However... our aim was to play for as long as possible, even if that meant being criticised for playing in difficult conditions."Djokovic will be hoping he does not face another soggy day on Thursday when he is scheduled to contest his 28th successive major quarter-final against Czech seventh seed Tomas Berdych, a 6-3 7-5 6-3 winner over 2013 runner-up David Ferrer.Austrian tyro Dominic Thiem was enjoying his most successful run at a grand slam after beating Spaniard Marcel Granollers 6-2 6-7(2) 6-1 6-4 to set up a last-eight clash with Belgian David Goffin.Venus Williams' eighth-seeded conqueror Bacsinszky, describing herself as "a chameleon" who can adapt to "every type of court", will next face Dutch outsider Kiki Bertens who downed American 15th seed Madison Keys 7-6(4) 6-3.Already in the semi-finals though are Spanish fourth seed Garbine Muguruza and 2011 U.S. Open champion Sam Stosur.Fourth seed Muguruza ended the run of 108th-ranked American Shelby Rogers with a 7-5 6-3 win, while 2010 Paris finalist Stosur beat Bulgaria's Tsvetana Pironkova 6-4 7-6(6).
 The International Cricket Council (ICC) has admitted that it often tweaks the draws of major events to get Pakistan and India into the same group.</strongThe draw for the 2017 Champions Trophy in England saw India and Pakistan being grouped together, with defending champions India beginning their title defence against their arch-rivals at Edgbaston on June 4."No doubt, we try to put Pakistan versus India in our event," said ICC chief executive Dave Richardson, according to a report published in The Telegraph."It's hugely important from an ICC point of view. It's massive around the world and the fans have come to expect it as well. It's fantastic for the tournament because it gives it a massive kick."It is the fifth tournament in succession where Pakistan and India are scheduled to meet in the group stage. Matches between the two countries attract huge television audiences, sometimes up to one billion. It had long been suspected that the ICC was doctoring draws to guarantee fans and broadcasters regular opportunities to savour cricket's most lucrative fixture, but this is the first time that the governing body has admitted it publicly.Richardson denied that the 'tweaking' impacted the integrity of any tournament. "What we try and do is make sure that when you add up the rankings of the different groups, they all add up to the same number of points. You can do that in a number of ways. So long as the pools are balanced, it's silly to avoid [the fixture] when you can fairly cater for it," he said.
 International Cricket Council chief executive David Richardson expects Pakistan quick bowler Mohammad Amir to tour England next month, saying his return is a "good thing" for the sport.</strongAmir, 24, featured in two one-day internationals against New Zealand in January and the Pakistan Cricket Board have approached their English counterparts for help in securing a visa for the talented left-armer.He was given a six-month prison sentence, of which he served half in a UK young offenders� institute, on charges of conspiracy to accept corrupt payments and conspiracy to cheat at gambling after bowling deliberate no-balls during the Lord�s Test in August 2010.The same spot-fixing scandal also saw fellow paceman Mohammad Asif and then Pakistan Test captain Salman Butt given jail sentences by an English court and bans by the ICC.Although now cleared to play again by the ICC, Amir�s criminal conviction could see him denied an entry visa to Britain for Pakistan�s tour of England, where they will play four Tests -- the first at Lord�s -- five one-day internationals and a Twenty20 between July and September."I always think you get handed out your punishment, you serve it and then who are we to say �never again?�," Richardson told AFP in an interview at The Oval in south London on Wednesday following the launch of the 2017 ICC Champions Trophy one-day tournament."He (Amir) has certainly shown a willingness to make sure he sets an example now by asking younger players to learn from his mistakes."Certainly, I think it�s a good thing that he�s back playing," the 56-year-old added."I�d be surprised if he (Amir) doesn�t end up coming (to England)."
strong>Rafael Nadal has pulled out of the Aegon championships at Queen's Club, the traditional Wimbledon warm-up event, due to the wrist injury that forced the Spaniard to leave the French Open last week.</strongThe 14-times grand slam champion said then that he could tear a tendon if he did not rest and hoped to recover in time for Wimbledon, which he has won twice.The grass court Aegon championships start on June 13, with Wimbledon following on June 27."I am very sad that my wrist injury means that I cannot play at The Queen�s Club this year," Nadal said in a statement on the Lawn Tennis Association (LTA) website on Wednesday."It is a tournament and a club that I love, I enjoy playing in front of the British people, and I was looking forward to trying to win the title for a second time," he added."I wish everyone at the tournament a great week, and I look forward to returning in future years."Nadal's career has been plagued by injury. Tendinitis in his knees prevented him from defending his Wimbledon title in 2009 and the 2008 Beijing Olympics gold medallist also missed the 2012 London Games because of injury.
 Leander Paes and Martina Hingis completed the mixed doubles Grand Slam on Friday with a 4-6, 6-4, 10-8 win over Sania Mirza and Ivan Dodig in the French Open final.Paes, 42, and 35-year-old Hingis had already won the Australian Open, Wimbledon and US Open in 2015.It was Paes�s eighth mixed doubles title in all at the Slams to add to his 10 men�s doubles wins in a run stretching back to 1999.He had already completed the men�s doubles Grand Slam."I won my first Slam here in 1999 on this court," Paes told a shivering handful of hardy fans inside Philippe Chatrier Court."Today we have completed a team Slam. Martina, you are a fantastic partner, I love you like crazy."You cover most of the court. You are a real champion."Hingis, a five-time singles champion at the majors in her prime, now has five mixed and 12 women�s doubles titles.She won a first mixed title with Mahesh Bhupathi at the 2006 Australian Open.Hingis and Mirza had also won the last three women�s doubles at the Grand Slams but were knocked out in the third round at the French Open.They slumped to a shock 6-3, 6-2 loss to Czech pair Barbora Krejcikova and Katerina Siniakova.�
 South Africa captain AB de Villiers won the toss and chose to bat against the West Indies in the first match of the day/night Tri-Nation One-Day International series at the Guyana National Stadium here Friday.Jason Holder is leading a home side that has been inactive in ODI�s since the three-match series last November, in which they were swept 3-0.Hard-hitting all-rounder Kieron Pollard plays his first one-day for the regional side in 20 months, having been ignored by the selectors since the abandonment of the tour of India in October 2014.Spinner Sunil Narine also returns to the team after another period of rehabilitation after his bowling action was deemed illegal during the Sri Lankan series.<br/> South Africa are without experienced wicketkeeper-batsman Faf du Plessis, who is nursing a broken finger.Quintock de Kock will assume duties behind the stumps apart from opening the batting alongside the prolific Hashim Amla, who scored 92 in the tourists lone warm-up fixture in Port of Spain five days earlier.On a surface expected to assist the slow bowlers, South Africa have matched the West Indies tactics in opting for two specialist spinners as well, left-armer Aaron Phangiso and wrist-spinner Imran Tahir given the responsibility to exploit the surface.<br/> <br/> Teams:<br/> West Indies: Jason Holder (captain), Johnson Charles, Andre Fletcher, Darren Bravo, Marlon Samuels, Kieron Pollard, Carlos Brathwaite, Denesh Ramdin (wicketkeeper), Sulieman Benn, Sunil Narine, Jerome Taylor.South Africa: AB de Villiers (captain), Hashim Amla, Quinton de Kock (wicketkeeper), Rilee Roussouw, JP Duminy, Farhaan Behardien, Chris Morris, Kyle Abbott, Kagiso Rabada, Aaron Phangiso, Imran Tahir.Umpires: Richard Illingworth (ENG), Joel Wilson (TRI), Match Referee: Jeff Crowe (NZL).�
 Former Pakistan Cricket Team Captain Rashid Latif offered his services for coaching to improve performance of cricket players of Special Security Unit Sindh Police.Rashid Latif visited the various sections of the Special Security Unit here today.<br/> <br/> Muhammad Muzaffar Iqbal, Security Officer SSU briefed about professional responsibilities and the advance training provided to commandos including lady commandos of Special Security Unit.He also informed that country�s first Special Weapons and Tactics (SWAT) team has been setup in SSU which is ready round the clock to meet any challenges while international organization United Kingdom Accreditation System (UKAS) Britain awarded ISO certificate to SSU for maintaining international standard in the field of performing counter terrorism operations, provision of foolproof security services to national/foreign dignitaries and vital installations.SSU is the only law enforcement outfit in the country which has been issued ISO certificate, he added.<br/> <br/> Rashid Latif congratulated SSU for maintaining high standard in the management, administration and counter terrorism operations and appreciated the efforts of the officers of SSU for establishing a world class law enforcement outfit in Sindh Police.
 Novak Djokovic reached his fourth French Open final with a 6-2, 6-1, 6-4 demolition of Austria�s Dominic Thiem on Friday to move one match closer to a career Grand Slam.</strongThe world number one will tackle either second seed Andy Murray or defending champion Stan Wawrinka in Sunday�s title match in what will be the Serb�s 20th Grand Slam final.It will also be the 29-year-old�s sixth successive Grand Slam championship match as he looks to add a first Roland Garros crown to his collection of 11 majors.
 Legendary Pakistan paceman Wasim Akram marked his 50th birthday on Friday, saying life is "exemplary" and that his Australian wife told him the half-century "is the new 40".</strongRegarded as one of the best left-arm pacemen ever to grace the game, Wasim -- who celebrated with family and friends -- said cricket had brought him great fame, adding: "1.5 billion people across the subcontinent and beyond love me".<br/>"My wife told me 50 is the new 40," he told AFP. "So it�s enjoyable."Wasim, popularly dubbed the "sultan of swing", lives in Karachi with his second wife, Shaniera, and is a renowned cricket expert on various television channels.He said cricket had transformed his life. "Cricket is a great leveller. It transformed my life from an ordinary boy to one who is loved in Pakistan and India by over 1.5 billion people and it�s incredible."In a storied career of 104 Tests between 1984 and 2003, Wasim took 414 wickets and 502 in 356 one-day internationals -- both still a Pakistan record.Wasim also is the only person to have registered twin hat-tricks in both Tests and one-day internationals.He was player of the tournament with 18 wickets when Pakistan won their only World Cup title in Australia in 1992.<br/>Wasim said he never imagined achieving star status when he took up the game."It is a life in which dreams turned into reality. I never imagined this fame and success when I started my career and to have played so much and captained your team winning the World Cup is more than I had dreamed."Each day of my cricketing life and even now has been exemplary. I am what I am because of my fans across the world."<br/>But the game�s future generation must work hard, he said."There are no short cuts to success," said Wasim, also a bowling coach for Kolkata Knight Riders in the Indian Premier League."I tell every player, in Pakistan or India, that you have to work hard and only that can help you show your skills at the highest level. This is true for every field of life."Wasim said he has no regrets in life. "People do make a lot of mistakes and I too have made some, but I have no regrets in life and no complaints, my name is in cricket history books and will remain there and that�s a great pride for me."
 Serena Williams will play Garbine Muguruza in the French Open final after the top seed and defending champion defeated Kiki Bertens of the Netherlands 7-6 (9/7), 6-4 in Friday�s semis.The 34-year-old American is aiming to win her 22nd Grand Slam title in Paris equalling the Open-era record set in Paris 17 years ago by Steffi Graf.Muguruza defeated Australia�s Samantha Stosur 6-2, 6-4 in the other semi-final to reach the championship match in Paris for the first time.
 Spanish fourth seed Garbine Muguruza reached her second grand slam final when she beat Australian Samantha Stosur 6-2 6-4 in the semi-finals of the French Open on Friday.The 22-year-old, runner-up at Wimbledon last year, became the first Spanish woman to reach the Roland Garros final since Conchita Martinez in 2000.Muguruza made the most of Stosur�s mediocre first serve on Court Suzanne Lenglen to race to a 4-0 lead in the opening set, also relying on her booming forehand to outpace the 2010 runner-up.Muguruza held off Stosur�s late comeback charge to set up a final showdown with either defending champion Serena Williams or Dutch danger woman Kiki Bertens.
 India�s Anil Kumble and several other former Test players on an International Cricket Council committee have urged the sport�s law-makers to bring in new restrictions on the size of bats amid concerns over a glut of run-scoring.</strongFollowing a two-day meeting at Lord�s, the headquarters of the Marylebone Cricket Club (MCC), the ICC cricket committee chaired by Kumble issued a statement saying it wanted MCC, which still has overall global responsibility for cricket�s Laws or rules, to instigate a clampdown.While there are limitations on bat length (when the lower portion of the handle is inserted it shall not be more than 38in/96.5cm) and width (4.25in/10.8cm at its widest part), none currently exist on depth.Modern manufacturers have become increasingly skilled at making bats with larger �sweet spots� that do not feel as heavy to pick-up as the blades that were once only the preserve of 1980s power-hitters such as West Indies great Clive Lloyd and England hero Ian Botham.The balance between bat and ball has become especially loaded against bowlers in limited overs games where the innovations brought in by Twenty20 cricket, allied to increasingly short boundaries, have led to an orgy of run-scoring.Last year�s 50-over World Cup in Australia and New Zealand witnessed 38 hundreds, nearly one every game, and 463 sixes, an average of one every nine overs.West Indies� Chris Gayle struck 16 sixes in racing to the fastest one-day international double hundred during a World Cup match against Zimbabwe at Canberra�s Manuka Oval, while New Zealand�s Martin Guptill hit a six measured at 110 metres in the course of his 237 against the West Indies at Wellington.Thursday�s statement from the ICC cricket committee, whose members include several former Test batsmen in England�s Andrew Strauss, India�s Rahul Dravid and Sri Lanka�s Mahela Jayawardene, said: "MCC sought the committee�s guidance on the desirability of making changes in order to redress the balance between bat and ball."The committee received a research paper from MCC citing a wealth of scientific and statistical evidence showing bats have become more powerful in recent years, primarily due to having larger �sweet-spots�."It added: "The committee�s view was that MCC should strongly consider limiting the dimensions of cricket bats to help achieve a better balance between bat and ball."South Africa batting great Barry Richards, speaking during last year�s World Cup, said restrictions were urgently needed to bring modern-day bats into line with the kind of relatively slim models he used in his 1970s heyday."The pressing of cricket bats has to be controlled and the thickness in their edges. Maybe there can also be a designated sweet-spot area for bats," Richards told the Sydney Daily Telegraph."Ours used to be about the size of a 50 cent piece but now they are much bigger... These are just a few of my ideas, because batsmen have it too easy."
 Cricket�s world governing body is conducting dope tests on four Pakistani players, including leg-spinner Yasir Shah, suspended for three months earlier this year, team manager Intikhab Alam confirmed Friday.</strongPakistan Test captain Misbah-ul-Haq was also tested by the International Cricket Council (ICC).The team can ill afford any positive results, which could have a significant impact on their upcoming tour in England, during which the results are expected to be confirmed.The ICC, which has been a signatory of the World Anti-Doping Agency (WADA) since 2006, routinely conducts such tests in and out of competition.Shah was provisionally suspended in December last year after he tested positive for chlortalidone, a masking agent under the WADA list of banned substances.He was barred for three months after he pleaded guilty and told the ICC that he had inadvertently taken his wife�s blood pressure medication.His ban was lifted in late March, making him eligible for the England tour.Alam said Shah�s test could come under the spotlight."Besides Shah, Test captain Misbah-ul-Haq, one-day skipper Azhar Ali and fast bowler Junaid Khan were also tested but Shah�s test could be targeted," he told AFP.Shah is seen as Pakistan�s main wicket-taker for the four-match Test series in England, which starts at Lord�s from July 14.Pakistan will also play five one-days and a Twenty20 international on the tour.Their last tour to England in 2010 was marred by a spot-fixing case which resulted in five-year bans on then Test captain Salman Butt, Mohammad Asif and Mohammad Amir.Amir returned to the national team in January this year and is expected to be named for all three formats for the tour.
 "We are clear. We will reach an agreement. He is a vital player for us and I don't have any doubts about whether he will stay."The 31-year-old, who can also be deployed as a defensive midfielder, has been a regular for Barca since his arrival from Liverpool in 2010.
 Test teams are excessively exploiting �home advantage� by preparing pitches that favour the strengths of the host nation, an International Cricket Council (ICC) panel representing various stakeholders within the sport said on Friday.</strongIndia manipulated conditions to thump South Africa 3-0 last year amid dissatisfaction over the nature of the turning tracks used in the series, including the strip in Nagpur which was rated �poor� by match referee Jeff Crowe.The ICC Cricket Committee, headed by former India captain Anil Kumble, is unhappy with the quality of test pitches "and in particular the common practice of home countries overtly preparing surfaces to suit their own teams".The panel was also worried about the growing imbalance between bat and ball and has requested the Marylebone Cricket Club (MCC), the custodians of the game�s laws, to curb the use of oversized bats."The Committee received a research paper from MCC citing a wealth of scientific and statistical evidence showing bats have become more powerful in recent years, primarily due to having larger �sweet-spots�."The committee�s view was that MCC should strongly consider limiting the dimensions of cricket bats to help achieve a better balance between bat and ball."During the two-day meeting which concluded at Lord�s on Wednesday, ICC medical consultant Craig Ranson made a presentation to the panel on injury surveillance trends.The committee recommended toughening helmet standards, an issue that has assumed more importance following Australian batsman Phillip Hughes� death in 2014 after being struck in the head by a bouncer."The committee expressed concerns that there were still too many instances of international cricketers wearing helmets which did not meet the latest British Safety Standard (BSS)," it said."It recommended that the ICC should enforce the wearing of the latest BSS compliant helmets in all international cricket."Comprising representatives of various interested associates, the panel makes recommendations to the ICC Chief Executives� Committee and the ICC Board for approval.
 The England Cricket Board (ECB) has appointed Heather Knight as captain of the women's team in all three formats.</strongKnight takes over from Charlotte Edwards, who announced her international retirement in May. Her first assignment as captain is the home ODI and T20 series against Pakistan, which begins on June 20, ESPNcricinfo reported Friday.Knight, a right-hand batsman who also bowls offspin, has played five Tests, 55 ODIs and 33 T20Is since her international debut in 2010. She was Edwards' vice-captain from 2014 till the World T20 in March-April.She has captained Hobart Hurricanes in the Women's Big Bash League and is set to lead Western Storm in the inaugural Women's Super League T20 tournament in England."I'm hugely proud and honoured to be named England captain and can't wait to face the challenges ahead," Knight said."It's a fresh, exciting time for the team and I'm looking forward to seeing how we can develop together at the start of this new era for England women's cricket. All our focus is now on what we have to come, starting with the Pakistan series this summer.
strong>Ryan Giggs will leave Manchester United in the close season to explore opportunities in management away from the club, Sky Sports reported on Friday, citing sources.</strongGiggs has been at United for 29 years and served as interim player-manager when David Moyes was sacked in 2014 and as an assistant coach under Louis van Gaal.Former Chelsea boss Jose Mourinho, who was announced as Van Gaal's replacement last week, is bringing his own management team to Old Trafford with his long-time assistant Rui Faria set to take up the role that Giggs has filled.The Welshman is currently on holiday in Dubai and is scheduled to return to England at the weekend.
 Pakistan�s legendary cricketer Wasim Akram, fondly remembered by his fans as 'Swing ka Sultan' turned 50 today.</strongThe left-arm pacer took to twitter to thank his friends and fans for the birthday wishes he received. dir="ltr" lang="en">� Wasim Akram (@wasimakramlive) <a href="https://twitter.com/wasimakramlive/status/738582745119498244">June 3, 2016</aBorn on the 3rd of June 1966 in Lahore, he began his cricketing career in the 80s and retired in the year 2003. He remained the 'King of Swing' throughout his 19 year long career.In his cricketing career that spanned over almost two decades Wasim has taken a whooping 916 international wickets and to date continues to be an inspiration to aspiring cricketers.Wasim, considered to be the most prolific Pakistani fast bowler to have ever played the game, picked up an impressive 414 wickets in 104 test matches while in ODIs, he has notched up 502 wickets in the 356 matches that he played for Pakistan.�At blistering pace, Wasim Akram's reverse swing deliveries bamboozled batsmen around the world and made him one of the most respected cricketers of all time. He also has the honour of being part of the 1992 World Cup-winning Pakistan cricket team, led by Imran Khan. Akram's three wickets in the final helped Pakistan clinch the match and the world cup.�Wasim Akram captained Pakistan briefly after Imran Khan and Javed Miandad retired and led his side to the world cup final in 1999 but since then, match-fixing allegations and complications got in the way of his captaining the side ever again. He retired after the 2003 World Cup, when he was dropped from the national squad after Pakistan's dismal performance.�Wasim has also been appointed as the bowling coach of the Shah Rukh Khan-owned Kolkata Knight Riders and frequently commentates as well.�Wasim married Australian Shaniera Thompson in 2013 and has a daughter from her named�Aiyla.�He will always be included among not only the greatest cricketers to have emerged from Pakistan, but the world over.�
strong>World number ones Novak Djokovic and Serena Williams will feel like they are working overtime on Friday when organisers cram all four semi-finals into a single session to try and ensure a rain-ravaged tournament ends on schedule.</strongThe Serbian will be on court for a fourth day running and the American for a third, after the players' usual rest days between matches were eaten up by persistent rain delays that washed out Monday and meant just two hours of play were possible on Tuesday.The Serbian will also have to trade down to Roland Garros' number two court to battle past his young Austrian opponent, Dominic Thiem. The 13th seed has lost both their encounters but is strengthening his case with every win to be viewed as the pick of a new tennis generation."He's playing the best tennis of his life," Djokovic told a news conference on Thursday after dispatching Czech Tomas Berdych in straight sets."He's played a lot of matches, especially on clay, which is his favourite surface... I'm sure he's going to give it all in the semis."Weather permitting, all semi-finals at grand slam tournaments are invariably played on the main showcourt, but the scheduling backlog means Djokovic and Thiem, and before them Spanish women's fourth seed Garbine Muguruza and Australian Sam Stosur, will play Friday's matches on Court Suzanne Lenglen.�Taking pride of place on Paris' main Philippe Chatrier showcourt will be Williams and unseeded Dutchwoman Kiki Bertens, followed by arguably the most mouthwatering clash of the day between world number two Andy Murray and defending champion Stan Wawrinka."I think he's been an amazing player for many, many years," Wawrinka told reporters about Murray, who has won eight of their 15 encounters."He always tries to be a better player. The way he's improved on clay is quite impressive, because now he's winning a lot of tournaments."Both the Swiss and the Briton have had the luxury of an extra day's rest, having completed their fourth-round matches on Sunday before the rain set in.But while Djokovic, who along with Thiem did not clear the fourth round until Wednesday, is keenly aware he has had less time to recharge his batteries, that may just make him concentrate all the harder."The way that the schedule has been going on in the second week means there is not much time to really reflect on what you have done," he said."My focus right away goes for recovery and the next match."
 When Ramazan starts, Imran Tahir will begin juggling the demands of observing his Muslim faith and playing a full day of international cricket for a team sponsored by a beer company.</strong"I don�t think it is difficult to balance professional sports with practising your faith," insisted the South Africa legspinner, in an interview with AFP."It is very easy if you follow the right path."One of the world�s top spinners, Pakistan-born Tahir has played more than 100 times for the Proteas since making his international debut in 2011, after becoming a South African citizen through marriage.In his native Pakistan, the team regularly prays together on the field during internationals and the lunch break is extended on Fridays, so players and fans can attend the weekly services at the nearest mosque.And in Bangladesh, the only other Muslim-majority Test-playing nation, facilities have been set aside to enable fans to pray at the ground.Tahir is one of five Muslims to have been selected for the South African squad taking part in the tri-nation ODI series with the West Indies and Australia in the Caribbean that begins on Friday and runs until June 26.strong>- Lager logo -</strongThey include former skipper Hashim Amla, who along with Tahir has been given special dispensation not to sport the logo of Castle lager, the team�s major sponsor, as Muslims are forbidden from drinking alcohol.Muslims are normally expected to fast from dawn to dusk during the month of Ramadan, which begins in different parts of the world this coming Sunday or Monday.But they are allowed to refrain from fasting if they are away from home, as in the case of Tahir while he is in the West Indies.Tahir said that even if he did not observe a fast on a particular match day, he would still make it up at a later stage."I am thankful to Allah that he drove me closer to him," Tahir said, during the just-finished Indian Premier League."I try not to miss my prayers and the 30 fasts in Ramadan but even if I do miss them due to my cricket, I make up for them later on."The Lahore-born Tahir has plied his trade around the world, including stints in England�s county championship and the IPL, where he played for the Delhi Daredevils.Speaking to AFP in the Indian capital, Tahir said that many in the cricketing fraternity helped him observe his faith."I have come through all the different cultures of the world while playing cricket and I have had no difficulty whatsoever while following my path," he said, glancing at the clock to ensure he wouldn�t be late for Friday prayers."Rather they (players, coaches and support staff) give more respect. Some have even offered me their room to offer my Namaz (prayers)."strong>- Late starter -</strongSince making his international debut at the late age of 32, Tahir has become a mainstay of a South African team that had long lacked a top-class spinner.He has particularly excelled in the shorter formats and is now the world�s number two bowler in Twenty20 internationals behind the West Indian spinner Samuel Badree, and number six in the ODI chart.His animated celebrations and appeals have made him something of a pantomime villain among some fans, but Tahir says it shows his passion."I think people know that the celebration is instinctive and not fake," he said."Looking back at the hard patches of my life, I feel good that I have come thus far. If I get a wicket I just want to show people that how big that is for me."
 Boxing legend Muhammad Ali has been hospitalized for a respiratory issue, his spokesman said Thursday.</strongThe 74-year-old former heavyweight world champion, who suffers from Parkinson�s disease, was in a "fair condition", a statement from spokesman Bob Gunnell said."A brief hospital stay is expected," Gunnell said."At this time, the Muhammad Ali family respectfully requests privacy."ESPN reported that Ali had been hospitalized in Phoenix, where he now lives.The three-time heavyweight champion, who retired from the ring in 1981 after a defeat to Trevor Berbick, has been hospitalized multiple times in recent years.He spent time in hospital in 2014 after suffering a case of mild pneumonia and again in 2015 for a urinary tract infection.
 Garbine Muguruza achieved the rare feat of overpowering Serena Williams to claim her maiden grand slam title with a 7-5 6-4 win over the world number one and defending champion in the French Open final on Saturday.</strongThe 22-year-old fourth seed, who lost to Williams in last year�s Wimbledon final, became the first Spaniard to lift the Suzanne Lenglen Cup since Arantxa Sanchez Vicario in 1998."This is the big tournament in Spain and Rafa (Nadal) is our champion," she said courtside, referring to the nine-times men�s winner who pulled out injured last week."She won the first set by one point.That just goes to show you you really have to play the big points well and I think she played the big points really well," Williams said.Although her hard-hitting game seems more suited to faster surfaces, Muguruza won 14 consecutive sets en route to the final after losing her opening set of the tournament.An anxious player by her own admission, she managed her emotions on Court Philippe Chatrier, saving six of eight break points against Williams, who had only lost only four of her 26 previous major singles finals.It was Muguruza�s first final on the slow surface and she relied on a powerful first serve and jaw-dropping winners down the line to subdue the American in a battle of will.Williams, who was gunning for a professional era record 22nd major title, got off to a solid start, winning her first service game to love and putting pressure on her opponent�s serve.In the fourth game, which lasted nine minutes, Muguruza saved a break point with an unreturnable forehand, then a second with an ace.An ugly double fault, however, earned Muguruza the first break of the match, which she consolidated by holding serve in the sixth game with a flat forehand winner down the line to lead 4-2.Williams, 34, stepped into the court and put Muguruza on the back foot, breaking back for 4-4 when Muguruza sent a backhand long.An unreturnable crosscourt forehand gave Muguruza another break.<br/>Serving for the set, she showed early nerves in the 12th game before converting her third opportunity with a sizzling backhand winner.A weak Williams backhand put Muguruza up a break in the second, only for the Spaniard to serve consecutive double faults as the American broke back for 1-1.But she unleashed another forehand down the line to regain the advantage and held for 3-1.Williams saved four match points to hold but on Muguruza�s fifth opportunity to seal the contest in the following game she landed a lob on the base line and sank to her knees in apparent disbelief at winning the title.
 Serena Williams vowed to keep chasing down Steffi Graf�s record of 22 Grand Slam titles after it remained once again tantalisingly out of reach thanks to Garbine Muguruza�s French Open triumph on Saturday.</strongWilliams�s titles count at the majors has stalled on 21 ever since she lifted a sixth Wimbledon crown last year by beating Muguruza in the final.The American star then suffered a shock semi-final loss to Italian journeywoman Roberta Vinci at the US Open before defeat to Germany�s Angelique Kerber in the Australian Open title match in January.Saturday�s 7-5, 6-4 loss to Muguruza, 12 years her junior, was the first time in her storied career that she had lost two successive Grand Slam finals.Muguruza, interestingly, is only the second player born in the 1990s -- after Petra Kvitova -- to win a Grand Slam.<br/>"The only thing I can do is just keep trying," said Williams who was attempting to win a fourth French Open after 2002, 2013 and 2015."In Australia, Ann Kerber made 16 errors in three sets, you know, so what do you do in that situation? Today Garbine played unbelievable."It�s definitely something I want to dissect and see what I can learn from that and what can I do to get better from it."<br/>Williams had struggled with an adductor injury at Roland Garros, a condition not helped by the unseasonal chill and damp.Despite that, she still finished top of the pile for aces served at 36 and sent down the joint fastest serve of the event at 196km/h in Saturday�s final.But she had one of the lowest first serve percentage rates at 60% and managed to convert only 30 of 73 break points over the two weeks.The final, she suggested, was a reflection of her tournament as a whole."It was just so many holes. Like I could have served better. I mean, I made a lot of errors on my return."I did definitely try out there today, but did I play better than the other matches? It�s a totally different game. But it�s going in the right direction, I think."Williams believes Muguruza, the first Spanish woman since Arantxa Sanchez Vicario in 1998 to win a Grand Slam, has the game to build further on her Roland Garros breakthrough."I think she has a bright future, obviously. She knows how to play on the big stage and she clearly knows how to win Grand Slams," said the American of a player who was just eight when she won her first Paris title."She�s definitely hitting hard. She just goes for broke on every shot and it works for her."
 British boxer Amir Khan paid tribute to legendary fighter Muhammad Ali Saturday, calling him the �people�s champion� and saying Ali�s life outside the ring had inspired him to help those in need.</strongThe WBC Silver welterweight title holder, currently in Pakistan to open a boxing academy and carry out charity work, said Ali�s larger-than-life personality had earned him millions of fans around the globe.�I was always looking up to him. A great fighter, a guy who wasn�t only just a fighter but also a great personality outside the boxing world as well,� the 29-year-old said.�He would say �I�m gonna knock him out in the fourth round, and he used to do it in the fourth round. That�s what I used to love about Muhammad Ali.��Khan added that Ali�s fighting style, which combined the speed and agility of a lightweight with the power of a heavyweight, had made him a unique fighter.�If you looked at the way he used to fight he was very very different to any other fighter.�He was a heavyweight, where he was really, really big, he was heavy. But he moved like a lightweight. So he floated like a butterfly and he did sting like a bee because his shots were fast, powerful and explosive. And he used to hurt his guys, you know, he hurt his opponents.�In addition to being widely regarded as the best boxer in history, Ali was outspoken in his fight for social justice, becoming a key figure in the civil rights movement and a leading voice against the US war in Vietnam.He also raised millions of dollars for charity, including his own organisation dedicated to Parkinson�s research, a disease he suffered from 1984 onwards.Khan said: �I look up to him and I wanna do what he did. That�s why I come places like Pakistan and I spend time here.�I kind of picked that out of his book � how Muhammad Ali used to help the less fortunate people. He was more of a people�s champion, not just a champion but a people�s champion and that�s how I want to be.�Khan has raised some $80,000 for the drought-affected people of Thar district, and pledged to build new wells in the desert region.He will also unveil a new boxing academy in the capital Islamabad aimed at unearthing future fighting champions.
 Tributes to Muhammad Ali poured in from across the sporting, cultural and political world after his death at age 74 with many saying there would never be another one like "The Greatest."</strongAli was fondly remembered not just as a heavyweight boxing icon but also for his fight for social justice, while others recalled his warmth and generosity, how he was equally at home with presidents and people on the streets.George Foreman, Ali�s most famous knockout victim from the Rumble in the Jungle, noted Ali�s other main rival, Joe Frazier, in tweeting: "Ali, Frazier and Foreman... we were one guy. A part of me slipped away, the greatest piece."The front page headline on Ali�s hometown newspaper, the Courier-Journal of Louisville, Kentucky, simply said, "The Greatest," with a legendary 1965 photo of Ali standing over a flattened Sonny Liston."We lost a legend, a hero and a great man," said Floyd Mayweather, who retired last year as an unbeaten welterweight champion. "He�s one of the guys who paved the way for me to be where I�m at. Words can�t explain what Muhammad Ali did for the sport."Another former world heavyweight champion, Mike Tyson, tweeted: "God came for his champion. So long great one. The Greatest. RIP."Don King, who promoted the Rumble in the Jungle, said Ali will live on forever alongside other US civil rights heroes."He was tremendous, not just a boxer, a great human being, an icon," King said. "Muhammad Ali�s spirit, like Martin Luther King Jr., will live on. That�s why Muhammad Ali will never die."Ali spoke out for African-American civil rights in the 1960s, carrying on his fight against injustice and sacrificing the prime years of his own career in the process."When people saw what he had done for what he believed in, threw away three-and-a-half years of his career and he remained steadfast, he came through all of that bigger and more important than ever before," boxing promoter Bob Arum sai<strong>d.</strong�strong>Public funeral</strong> The life of late legendary boxer will be celebrated with a public funeral procession and memorial service next week in his home town of Louisville, Kentucky, a family spokesman said Saturday.After a private family funeral on Thursday, Ali�s coffin will move through the streets of Louisville on Friday, June 10, before a public memorial service at an arena, with former president Bill Clinton among those expected to offer eulogies.The procession has been organized to "allow anyone that is there from the world to say goodbye," family spokesman Bob Gunnell told reporters in Scottsdale, Arizona.Louisville lowered flags to half-staff in his honor, as fans flocked to his modest childhood home, now a museum, to pay their respects and leave flowers.strong>Transcending sport</strongReflecting Ali�s reach far beyond boxing, many of the biggest names in world politics also remembered a man who stuck up for his beliefs -- and for those less influential than himself.The Nelson Mandela Foundation said Ali had been Mandela�s hero. "Nelson Mandela, a boxing enthusiast most of his life, acknowledged Ali as his boxing hero. Madiba had great respect for his legacy and spoke with admiration of Ali�s achievements," said Sello Hatang, chief executive of the foundation.Mandela�s favorite book at his office -- where there was a photo of the two men together -- was an autographed copy of an Ali biography, the organisation said.Former US president Bill Clinton said he had been "honored" to award Ali the Presidential Citizens Medal at the White House in January 2001, just before leaving office."Through triumph and trials," Clinton said, Ali "became even greater than his legend.""We watched him grow from the brash self-confidence of youth and success into a manhood full of religious and political convictions that led him to make tough choices and live with the consequences."Turkish President Recep Tayyip Erdogan called Ali "an extraordinary athlete and a remarkable man of good deeds who conquered the hearts of millions.""Boxing legend Muhammad Ali�s life-long struggle against racism and discrimination will never be forgotten," he wrote on Twitter.�strong>�Touched hearts� </strongThe sporting world also united to remember one of its biggest names. Retired NBA all-time scoring leader Kareem Abdul-Jabbar praised Ali�s courage in fighting discrimination."At a time when blacks who spoke up about injustice were labeled uppity and often arrested, Muhammad willingly sacrificed the best years of his career to stand tall and fight for what he believed was right," said Abdul-Jabbar."In doing so, he made all Americans, black and white, stand taller. I may be 7-feet-2 but I never felt taller than when standing in his shadow."Ali won an Olympic gold medal in 1960 and lit the torch at the 1996 Olympic opening ceremony.Thomas Bach, president of the International Olympic Committee, said Ali -- who had been battling Parkinson�s disease for decades -- "was an athlete who touched the hearts of people across the globe, an athlete who was engaged beyond sport, an athlete who had the courage to give hope to so many suffering illness by lighting the Olympic cauldron and not hiding his own affliction."Former England football captain David Beckham called Ali "the greatest there will ever be." "The biggest and the best," Beckham said on Instagram.
 The Pakistan Cricket Board (PCB) is expected to name a 17-member squad for upcoming series against England, Geo News quoting sources reported on Saturday.</strongAccording to sources, the squad would have three openers, five middle-order batsmen, two wicketkeepers, five fast bowlers and two spinners.Sami Aslam, Khurram Manzoor and Mohammad Hafeez are top contenders for the openers� slot, whereas middle-order lineup would comprise captain Misbah-ul-Haq, Younis Khan, Azhar Ali, Asad Shafiq and Iftikhar Ahmed.Spin duo of Zulfikar Babar and Yasir Shah, both of whom have played a key role in Pakistan�s major Test victories in the United Arab Emirates, were most favoured to fill in the two slots reserved for spinners.In the fast bowling department, sources said that captain Misbah wanted to take Ehsan Adil on board for the series, other than Mohamamd Amir, Wahab Riaz, Rahat Ali and Imran Khan Jr.As for two wicketkeepers, the selectors have put their faith in Sarfraz Ahmed and Mohammad Rizwan, sources said.Pakistan will start their England tour with the first Test scheduled on July 14, which will be followed by three more Tests, five ODIs and a T20.
 Nita Ambani has become the first Indian woman to be nominated as a member of the International Olympic Committee, following the introduction of a new selection process.</strongThe IOC confirmed Ambani�s nomination along with seven others on its website Friday, saying it was a part of its strategic roadmap for the future of the Olympic movement.Ambani, 52, will formally become an IOC member in elections slated for August 2-4 just before the Olympic Games in Rio de Janeiro.A founder and chairperson at the Reliance Foundation, the philanthropic arm of conglomerate Reliance Industries, she is married to Mukesh Ambani, the country�s richest man.She is also the principal owner of the Mumbai Indians franchise in the Indian Premier League cricket tournament.The Indian Olympic Association said Ambani�s presence on the IOC would give a big boost to sports in the country."We welcome Nita Ambani�s nomination. It is great for India and we hope... Indian sports will benefit from it," IOA secretary general Rajeev Mehta told AFP.Despite being the world�s second-most populous nation, India has a poor Olympic record, in part because of squabbling federations and mostly inept officials.Dogged by doping scandals and escalating costs, the IOC in 2014 passed sweeping reforms as part of a push to make Olympic Games cheaper to stage, as well as to bolster the credibility of the organisation.IOC president Thomas Bach said he hoped the eight new candidates would make great contributions to the Olympic movement, in comments posted on the IOC website."They have been vetted by new criteria in keeping with the recommendations of Olympic Agenda 2020."These candidates will add extra strength and diversity to our already universal orchestra of IOC members," Bach said.
 Indian boxing star Mary Kom mourned her "inspiration" Muhammad Ali in a tearful interview Saturday, after news of the legendary boxer�s death was confirmed by his family.</strongThe 74-year-old sports hero, who had battled Parkinson�s disease for decades, died Friday in a hospital in Phoenix, Arizona."Most of the boxers are inspired by him," Kom told television network NDTV by telephone."Me also, I was inspired by him to take up boxing, his struggles and the hard work he took in his boxing career," she said, her voice breaking audibly.Kom, 33, is a former five-time world champion and one of India�s most successful sports stars.She is reportedly seeking wildcard entry to the Rio Olympics after devastating fans by losing a crucial qualifying bout in Kazakhstan last month."We feel very, very sad that he is no more. We will always remember his contribution to boxing... I will always remember him and keep him in my heart," she said.A boxing official told AFP this week that India has asked the sport�s world association for a wildcard spot at the Olympics after Kom lost in the second round at the Women�s World Boxing Championships.A mother of three, she hails from a poor family in the long-neglected and remote northeastern state of Manipur.Her life inspired a Bollywood biopic in 2014 called "Mary Kom".
 Boxing icon Muhammad Ali died on Friday, a family spokesman said in a statement."After a 32-year battle with Parkinson�s disease, Muhammad Ali has passed away at the age of 74," spokesman Bob Gunnell said.Ali, whose fame transcended sport during a remarkable heavyweight boxing career that spanned three decades, had been hospitalized in the Phoenix, Arizona, area with a respiratory ailment this week.Born in Louisville, Ky., in 1942, as Cassius Marcellus Clay Jr., he began boxing at the age of 12, winning a number of amateur titles, culminating in an Olympic gold medal as a light heavyweight at the 1960 Games in Tokyo. He turned pro soon after that.Early in his career, he battled societal norms as frequently as he did his opponents. In 1964, as the struggle for civil rights simmered, he knocked out heavy favorite Sonny Liston to win the heavyweight title for the first time, then told reporters that he was a member of the Nation of Islam and had changed his name to Muhammad Ali, a name many news outlets at the time were slow to recognize.By 1967, he had successfully defended the title nine times, all but two by knockout. With the Vietnam War raging, he refused induction into the U.S. Army, on religious grounds, and was arrested and charged with draft evasion. When prodded further for his reasons for resisting, he said, �I am not going 10,000 miles to help murder, kill, and burn other people to simply help continue the domination of white slave-masters over dark people the world over.�Though he remained free on appeal, he was stripped of his title and not allowed to box for more than three years. The conviction was overturned by the Supreme Court, unanimously, in 1971. (A 2013 film by Stephen Frears, �Muhammad Ali�s Greatest Fight,� which dramatized the court�s decision, debuted in Cannes, aired on HBO in the U.S., and earned an Emmy nomination.)During his exile from the ring, Ali decided to try acting, starring in the 1969 Broadway musical �Buck White� at the George Abbott Theatre. He played a militant black lecturer, and got better reviews than the show, which closed after seven performances. �He sings with a pleasant slightly impersonal voice, acts without embarrassment and moves with innate dignity,� wrote New York Times reviewer Clive Barnes.Ali�s boxing career was defined by his matches against top opponents, particularly rivals Joe Frazier and George Foreman. His 1971 bout with Frazier to unify the heavyweight championship, his third after being reinstated, was called the Fight of the Century. Among those in attendance at Madison Square Garden were Miles Davis, Barbra Streisand, and Sammy Davis Jr. Bert Lancaster was the color commentator for the closed-circuit TV feed. Life Magazine hired Frank Sinatra as the photographer for Norman Mailer�s story.Ali had exploded the era of humble sports heroes when he declared, �I am the greatest!� in the run-up to his title fight with Liston. He also was among the first athletes to trash-talk his opponents, and he called Frazier, who supported the war, an Uncle Tom. Frazier knocked down Ali in the 15th round, and won a unanimous decision.Ali had to wait three years for another shot at the championship, this time against Foreman, who had beaten Frazier so badly in taking the title that few gave the 32-year-old challenger a chance against the 25-year-old champ. Ali called the fight, held in Kinshasa, Zaire, the Rumble in the Jungle. In documenting the bout 22 years later, Gast�s Oscar-winning �When We Were Kings� showed how an ebullient Ali had arrived on the scene a few days before the taciturn Foreman, and won over the nation�s citizens. An impromptu entourage of hundreds followed him around chanting, �Ali, bomaye!� (Ali, kill him!).In 1977, Ali lent his name to a short-lived NBC animated series �I Am the Greatest!: The Adventures of Muhammad Ali.� Somewhat more memorably that year, he joined Sylvester Stallone � whose �Rocky� was to win best picture � to present the best supporting actress award to Beatrice Straight for her role in �Network.�In the ring, a third, brutal fight against Frazier (the �Thrilla in Manilla�) as well as battles with Ken Norton subjected Ali to a great deal of punishment. And though he would become the first heavyweight to reclaim the title for a third time in 1978 at age 36, when he beat 25-year-old Leon Spinks in a rematch, the wear and tear of a career in boxing was apparent.He retired, and stayed that way for two years, but ill-advisedly returned for two more bouts, with Larry Holmes and Trevor Burbick, both cringe-inducing losses.In 1996, 12 years after his Parkinson�s diagnosis, Ali, showing the effects of the disease, lit the torch to begin the 1996 Olympics in Atlanta. In 2005, he was presented with the Medal of Freedom by President George W. Bush.Ali is survived by his fourth wife, Yolanda �Lonnie� Williams, two sons, and seven daughters, including Leila Ali, a boxer who retired, undefeated, in 2007.
 Sunil Narine snared career-best figures of six for 27 on his return to West Indies colours as the hosts defeated South Africa by four wickets in the opening match of the Tri-Nation One-Day International series at the Guyana National Stadium on Friday.</strongForced to remodel his action after it was deemed illegal during the Caribbean side�s last ODI campaign in Sri Lanka last November, the 28-year-old mystery spinner was at his mesmerising best on a turgid surface where the South Africans were dismissed for 188 off 46.5 overs.They found it difficult to establish any sort of momentum despite two useful partnerships at the top of the order.Narine�s returns were not only a personal milestone but also the best-ever by any opponents in one-day cricket against South Africa.Kieron Pollard, back in the good graces of the West Indies selectors after 20 months in the ODI wilderness following the shock abandonment of the tour of India in October of 2014, then lifted his team to the target with 11 balls to spare with a robust unbeaten 67 that included six sixes.It was the first time in 15 years that the Caribbean side had defeated the South Africans in a one-dayer on home soil.Rilee Rossouw top scored with 61 and featured in a 78-run third-wicket partnership with skipper AB de Villiers.That effort followed an opening stand of 52 between Quinton de Kock and Hashim Amla.However the Proteas collapsed from the comparative comfort of 160 for three, their last seven wickets falling for just 28 runs with Narine befuddling the South African middle and lower order.Rossouw was one of the spinner�s scalps, falling to a good low catch by Carlos Brathwaite at first slip.Brathwaite had earlier broken the opening stand of de Kock and Amla, de Kock attempting an injudicious heave to be comprehensively bowled.Narine then made his first strike by trapping Amla leg-before in the very next over.Yet it was the demise of de Villiers that proved to be the most crucial.Playing well within himself and being mindful of the challenging batting conditions, he compiled 31 off 49 deliveries without a single boundary but fell to a good catch off his own bowling by pacer Jerome Taylor at the start of the 31st over.South Africa had just ended a period of 23 overs without finding the boundary rope and it appeared de Villiers and Rossouw were on the cusp of acceleration before the captain�s departure.From then on it was the Narine show as he scythed through the rest of the visitors� batting.Set a relatively modest target, the West Indies opening pair of Johnson Charles and Andre Fletcher rode their luck in a 37-run stand before the introduction of the spinners changed the complexion of the chase.Imran Tahir deceived and bowled both with googlies while Aaron Phangiso and part-timer J.P. Duminy removed Marlon Samuels and Denesh Ramdin respectively to have the hosts wobbling at 76 for four.But Pollard, whose first three scoring shots were towering sixes, dominated a 74-run fourth-wicket stand with Darren Bravo to take the West Indies closer to the target.Bravo fell to Phangiso for 30 and Carlos Brathwaite, the final over hero of the World T20 triumph in India two months earlier, perished attempting a bit hit of Phangiso.But captain Jason Holder joined Pollard to ensure there were no more alarms on the way to a morale-boosting victory for a team classified as underdogs alongside the South Africans and ahead of Sunday�s meeting with World Cup holders Australia at the same venue.
 Boxing legend Muhammad Ali was fighting for his life in an Arizona hospital on Friday, with a source close to his family describing his condition as "very grave" as he battled a respiratory problem.</strong"The condition is very grave," a source close to Ali�s family told AFP on condition on anonymity as concern mounted for the beloved sporting icon.The 74-year-old former heavyweight world champion was hospitalized on Thursday. US media reported his respiratory trouble was complicated by his Parkinson�s disease.Ali spokesman Bob Gunnell earlier told the Courier-Journal in Ali�s hometown of Louisville that the fighter remained in fair condition and that a brief stay was still expected.Gunnell noted the "media frenzy" touched off each time the iconic fighter is hospitalized, but multiple media reports that Ali�s condition was deteriorating triggered widespread concern on Friday evening.One source suggested to the Los Angeles Times that Ali could be hours from death.US celebrity news website radaronline.com quoted an anonymous source as saying Ali required help breathing and that worried family members had gathered at his bedside.Ali, known globally not only for his storied ring career but also for his civil rights activism, has been hospitalized multiple times in recent years.He spent time in hospital in 2014 after suffering a mild case of pneumonia and again in 2015 for a urinary tract infection.His Parkinson�s, thought to be linked to the thousands of punches he took during a career that spanned three decades, has limited his public speaking for years.But he has continued to make appearances and offer opinions through his family members and spokespeople.
 Lionel Messi touched down in California on Friday as Argentina prepared for the possibility that the injured Barcelona superstar may not be fit for next week�s Copa America Centenario showdown with Chile.</strongMessi arrived in the early hours from Barcelona, where on Thursday he had appeared in court to give evidence in his tax fraud trial which has also embroiled his father.Messi, who suffered a back injury in a friendly victory against Honduras last week, is uncertain to be fit for Monday�s crucial Group D game against Chile at the Levi�s Stadium in Santa Clara.The 28-year-old playmaker was expected to train with his Argentina team-mates later Friday.Meanwhile team-mates Augusto Fernandez and Nahuel Guzman admitted Friday that Argentina were facing up to the possibility of Messi�s absence against the Chileans."It is logical that being the best player in the world it is clear that we all want him to be fit," Atletico Madrid midfielder Fernandez said, adding that he was confident the squad would cope against the Chileans if Messi was ruled out."When you have moments of adversity that�s when the team has to step up," Fernandez told a press conference.Guzman said he hoped Messi could recover, but admitted he had been surprised by the Argentina captain�s decision to make a grueling round trip from Spain just to appear in the Honduras friendly."It is shocking at some point because it is the captain, it�s Leo. He came to play this game, perhaps without much obligation or necessity, and he ends up getting injured," the Mexico-based reserve goalkeeper said.Monday�s game is likely to determine the winner of Group D, with Argentina facing further games against Panama and Bolivia.Messi is bidding to end Argentina�s 23-year trophy drought after a series of agonizing near-misses in recent years which saw the Albiceleste beaten in both the 2014 World Cup final and 2015 Copa America final.
strong>Novak Djokovic joined the tennis greats on Sunday when he downed British second seed Andy Murray 3-6 6-1 6-2 6-4 to claim his maiden French Open title and hold all four grand slams at the same time.</strongThe world number one recovered from a nervous start to impose his pace on Court Philippe Chatrier and clinch his 12th grand slam crown after three previous failures in a Roland Garros final.Djokovic is only the third man after Don Budge and Rod Laver to hold the four majors at the same time, and the eighth man to triumph at Wimbledon and the French, U.S. and Australian Opens.Murray played a perfect opening set, finding the right balance between defence and attack, but he was overwhelmed once Djokovic loosened up to avoid becoming the first man to lose his first four Roland Garros finals.The Serb shook off late jitters to wrap things up on his third match point when Murray netted a backhand.
 The Pakistan cricket Board (PCB) has announced a 17-member Test squad for the tour of England in July.Chief selector Inzamam-ul-Haq revealed the names of the players at a press conference here on Sunday.Misbah-ul-Haq has been retained as captain of the Test team which include three openers, seven middle-order batsmen, five bowlers and two wicketkeepers.Mohammad Hafeez, Yasir Shah and Zulfiqar Babar have been included in the team after they were declared fit while fast bowler Amir Khan�s inclusion will be based on the issuance of his visa.However, Inzamam-ul-aq Haq HHh Haq hopes that Amir would get the visa for the tour.Pakistan will play four Test matches against England on the tour.�
 Lee Chong Wei edged Denmark�s Jan O Jorgensen on Sunday to win his sixth Indonesia Open badminton title, raising hopes the Malaysian ace may be on course for Olympic victory.Second seed Lee battled back from one set down to defeat fifth seed Jorgensen 17-21, 21-19, 21-17 in a thriller that was marked by a series of hard-fought rallies and dramatic smashes.Jorgensen, ranked fifth in the world, dominated in the early stages of the men�s singles final and appeared to be heading for victory as he took the lead in the second set.But world number two Lee fought back doggedly, winning a series of long rallies to cling on.By the final stages of the third set, Lee was firmly in control, confidently winning point after point as Jorgensen�s initial confidence faded.The victory will be a boost for Lee as he heads to Rio this summer, where the 33-year-old will again try to win Olympic gold.At the last two Olympics, Lee has lost in the final to his arch-rival, China�s Lin Dan.In another boost for the Malaysian, Lin was knocked out of the Indonesian Open earlier in the week, losing in a shock defeat to unseeded Indonesian Jonatan Christie.Number one seed Chen Long of China withdrew, blaming an injury.Despite his loss in the final, Jorgensen�s impressive performance in the Indonesian Open is likely to be a boost for the Danes, coming hot on the heels of their maiden Thomas Cup victory last month.Thousands of fans flocked to watch the final at the Istora Gelora Bung Karno Stadium in Jakarta.�
Boxer Amir Khan has denied betraying his British upbringing after being criticised for saying he would represent Pakistan at the Rio Games, insisting he only wanted to boost the sport in his parents� country of birth.</strongBut the Bolton-born fighter also admitted he would not be willing to face an accompanying two-year ban from the World Boxing Council that would jeopardise his professional career, making an Olympic appearance unlikely.Speaking to AFP in an exclusive interview in Islamabad, where he launched his first boxing academy on Saturday, Khan said he was a "proud British fighter" who had represented his country at the Athens Games and would therefore not want to deprive fellow Brits of a ticket to Rio De Janeiro."I�m not doing it because I�m not happy being British. I�m a proud British fighter, but it�s the way people took it out of context and calling me a traitor -- I meant it in a way that I�d rather give someone else an opportunity instead because Pakistan has no boxers," he said."But, you know, at the moment we are just waiting and seeing. I don�t think I�ll be allowed to do that anyway because obviously, the WBC, they won�t allow it."World Boxing Council president Mauricio Sulaiman denounced a rule change by the International Boxing Association (AIBA) to allow professionals to compete against top amateurs in the Olympics, calling the move dangerous.Amir�s announcement was also met with consternation by some fans on social media and his former promoter Frank Warren, who wrote on boxingscene.com he was "a little disappointed" in Khan, who rose to fame after bagging an Olympic silver medal in 2004./><strong>Stinging loss</strongThe 29-year-old stands at a critical juncture in his career following a stinging loss to Saul "Canelo" Alvarez last month, that took his career record to 31 wins and four losses.Khan, a two-time former welterweight world champion, stepped up two divisions to fight his brawny middleweight opponent after he was denied a coveted matchup with Floyd Mayweather, who retired last year.He got off to a lightning start, but after dominating the early rounds was caught with a powerful overhand right that put him on the canvas in the sixth.Looking more trim than he appeared during the Nevada bout, Khan was sanguine about his loss and insisted he was looking forward to his next world title shot against WBC welterweight champion Danny Garcia."I feel great. I feel young, fresh. I mean, the Alvarez fight, everything was going fine until I got caught with the big shot and that�s boxing for you sometimes. One punch can change the fight. You can be winning the fight quite comfortably and I�ve seen it happen to the best of us."So, I�m gonna go back to the drawing board and not make those mistakes. I know that my offense was amazing in that fight. But maybe tighten up a few little areas."/>Hunting for championsNo longer the brash youngster who was known for his fast cars and flashy lifestyle and who regularly made headlines for his speeding tickets, Khan now speaks passionately about the need to give back to those less fortunate -- a trait he says he learned from his idol, the late Muhammad Ali.Last year, he travelled to the Greek island of Lesbos to lead a charitable drive for Syrian refugees, while his current trip to Pakistan has seen him raise money and pledge wells for the residents of Thar, a drought-ridden southern district home to some of the country�s most destitute people.<br/>Ali, he says, was "not just a champion but a people�s champion and that�s how I want to be."His academy in Islamabad -- modelled after the one he founded in Bolton, northwest England, will aim to seek out talent in a country which only boasts sporadic success in cricket.He said: "I really believe in the country, I really believe in the talent we have here, just like I did in the UK. I believed in talent in the UK and I produced amateur world champions and European champions and gold medallists and national champions. I want do the same for Pakistan."
 The life of late legendary boxer Muhammad Ali will be celebrated with a public funeral procession and memorial service next week in his home town of Louisville, Kentucky, a family spokesman said Saturday</strongAli, the three-time world heavyweight champion and colorful civil rights activist whose fame transcended the world of sports and made him an iconic figure of the 20th century, died Friday at age 74 after a long battle with Parkinson�s disease.The dazzling fighter -- whose words, often delivered in catchy rhymes, were as devastating as his punches -- had been admitted to an Arizona hospital earlier in the week.From political leaders to sports figures to Hollywood�s A-list, the world paused to remember "The Greatest," whose remarkable career spanned three decades, and whose battle with illness later in life moved his fans.After a private family funeral on Thursday, Ali�s coffin will move through the streets of Louisville on Friday, June 10, before a public memorial service at an arena, with former president Bill Clinton among those expected to offer eulogies.The procession has been organized to "allow anyone that is there from the world to say goodbye," family spokesman Bob Gunnell told reporters in Scottsdale, Arizona.Louisville lowered flags to half-staff in his honor, as fans flocked to his modest childhood home, now a museum, to pay their respects and leave flowers.
strong>For Bob Arum, the famed promoter who befriended Muhammad Ali some 50 years ago, the former heavyweight champion�s legacy in the boxing ring pales in comparison to his impact on America and the world.</strongArum told Reuters on Saturday, the day after Ali died in a Phoenix-area hospital at the age of 74, that his long-time friend should be remembered for standing up against racism and war at a time when doing so was risky and unpopular."I think when you talk about Muhammad Ali, as great an athlete, as great a boxer as he was, he was the greatest boxer of all time, he means so much more to the United States and the world," Arum said."He was a transformative figure in our society. "Arum, 84, recalled that Ali strode onto the world stage in the mid-1960s, at a time when African Americans were still fighting for basic civil rights."And while Martin Luther King was talking sense and talking about progress that could be made in his soft-spoken way, Ali, with his big mouth was thundering and demanding rights for African-American people and standing up for what was right," Arum said."At first that didn�t sit well with the people in the United States. At fights he was booed because they felt that he was too outspoken," he said.Arum said he disagreed at the time with Ali�s refusal to be drafted into the U.S. Army and fight in Vietnam, a stand that cost the fighter his world boxing crown."And I said �hell no�, I advised him just the opposite," Arum said. "But of course he wouldn�t listen.He did what he thought was right.And it turned out he was right, and I was wrong. "The promoter said Ali gave up three years in the prime of his career to stand up for those convictions and was ultimately vindicated in the public eye."So when I look back at his life, and I was blessed to call him a friend and spent a lot of time with him, it�s hard for me to talk about his exploits in boxing because as great as they were they paled in comparison to the impact that he had on the world," Arum said.
 The death of Muhammad Ali, the former heavyweight champion known as much for his political activism as his boxing brilliance, triggered a worldwide outpouring of affection and admiration for one of the best-known figures of the 20th century.</strongAli, who had long suffered from Parkinson's syndrome which impaired his speech and made the once-graceful athlete almost a prisoner in his own body, died on Friday at age 74.The cause of death was septic shock due to unspecified natural causes, a family spokesman said on Saturday. Ali was admitted to a Phoenix-area hospital, HonorHealth, with a respiratory ailment on Monday."He�ll be remembered as a man of the world who spoke his mind and wasn�t afraid to take a chance and went out of his way to be a kind, benevolent individual that really changed the world," the family spokesman, Bob Gunnell, said at a news conference in Scottsdale, Arizona.Despite Ali's failing health, his youthful proclamation that he was "the greatest" rang true until the end for millions of people around the world who respected him for his courage both inside and outside the ring.Along with a fearsome reputation as a fighter, Ali spoke out against racism, war and religious intolerance, while projecting an unshakeable confidence that became a model for African-Americans at the height of the civil rights era and beyond.Stripped of his world boxing crown for refusing to join the U.S. Army and fight in Vietnam, Ali returned in triumph by recapturing the title and starring in some of the sport's most unforgettable bouts."I think when you talk about Muhammad Ali, as great an athlete, as great a boxer as he was, he was the greatest boxer of all time, he means so much more to the United States and the world," said Ali's long-time friend, boxing promoter Bob Arum."He was a transformative figure in our society."Bursting onto the boxing scene in the 1960s with a brashness that threatened many whites, Ali would come to be embraced by Americans of all races for his grace, integrity and disarming sense of humor."In the end, he went from being reviled to being revered," civil rights leader the Rev. Jesse Jackson told CNN on Saturday.Pam Dorrough, a tourist in New York's Times Square, admired Ali's refusal to apologize for what he believed."The confidence - and I know everybody thought it was an arrogance about him - he always projected a confidence," she said. "And he stood by that."President Barack Obama, the first African-American to reach the White House, said Ali was "a man who fought for us" and placed him in the pantheon of civil rights leaders Martin Luther King Jr and Nelson Mandela."His fight outside the ring would cost him his title and his public standing. It would earn him enemies on the left and the right, make him reviled, and nearly send him to jail," Obama said in a statement. "But Ali stood his ground. And his victory helped us get used to the America we recognize today."Ali's daughter Maryum said on Saturday: "I am happy my father no longer struggles. He is in a better place. God is the greatest."In New York's Harlem district, fans gathered outside the famous Apollo Theater, where a marquee paying tribute to Ali read: "The greatest of all time. 1942-2016."Nearby, hundreds more gazed at projections of phrases and images most associated with Ali, such as "float like a butterfly and sting like a bee."Few could argue with his athletic prowess at his peak in the 1960s, with his dancing feet and quick fists. But Ali became much more than a sportsman. He spoke boldly against racism in the '60s as well as against the Vietnam War.Ali met scores of world leaders, during and after his championship reign, and for a time he was considered the most recognizable person on earth, known even in remote villages in countries far from the United States.
strong>Mexico scored twice in the final five minutes to beat Uruguay 3-1 in a pulsating Copa America Group C match in which each side had a man sent off on Sunday.</strongThe win in front of a passionate and partisan crowd at Glendale, Arizona left Mexico top of the group on goal difference from Venezuela after they beat 10-man Jamaica 1-0 in Chicago.The early omens were not good for Uruguay who stood stunned before kickoff when the Chilean national anthem was played instead of their own.Mexico then made a lightning start with the fastest goal of the tournament so far in their first incursion into the Uruguay penalty area in the fourth minute.Hector Herrera and Uruguay's Alvaro Pereira both leapt to meet Andres Guardado's curling cross from the left with the defender heading into his own net.Uruguay, who had Matias Vecino dismissed on the stroke of halftime after a second booking for a foul on Jesus Corona, equalised in the 74th minute from the free kick awarded when Guardado was also shown a second yellow card.Carlos Sanchez, the man Guardado brought down, hit the free kick into the box where captain Diego Godin headed past Alfredo Talavera to put the record 15-times champions back on level terms.Mexico, however, had the last word when their captain Rafael Marquez scored a fine goal from a corner, finding the top corner of Fernando Muslera's net with an angled shot from the right.With the Uruguayans pushing forward in numbers in search of another equaliser, Herrera made the result safe in the second minute of added time with a header from Diego Perez�s neat flick across the face of goal.strong>VENEZUELAN VICTORY</strongUruguay, without injured striker Luis Suarez and on the back foot for most of the first half, missed two good chances either side of halftime.Edinson Cavani, put through by Nicolas Lodeiro, was one-on-one with Talavera but the goalkeeper closed him down and blocked his effort after 30 minutes.In the 58th minute, Godin broke into attack from his own half and laid off to his right for Cavani who crossed to fellow striker Diego Rolan on the left but his finish was poor and ended up on the wrong side of the near post.Jamaica, who have now lost all four of their Copa America matches by the same 1-0 score, had the first chance at Soldier Field when a header from Je-Vaughn Watson hit the bar in the 11th minute.Venezuela, whose highest finish at a Copa America was the 2011 semi-finals in Argentina, went ahead after 15 minutes when Alejandro Guerra set up Josef Martinez and the striker shot under goalkeeper Andre Blake.Eight minutes later, Jamaica�s Rodolph Austin was sent off after he caught Tomas Rincon�s ankle with his studs as he followed through after winning the ball in the tackle.Jamaica's coach Winfried Schaefer was sent to the stands for the second half after a heated discussion with referee Victor Carrillo at the break.The Caribbean islanders fought hard in the second half but Michael Hector hit the post with a shot and, at the other end, Blake needed to make a superb save from Wilker Angel's diving header.Mexico play Jamaica next in Pasadena on Thursday when Uruguay meet Venezuela in Philadelphia.
 Manohar Aich, the bodybuilder who became the first Indian to take the Mr. Universe title in 1952 and won the nickname �Pocket Hercules� for his tiny stature, has died aged 104.Aich, who stood just 1.5 metres (four feet, 11 inches) tall, started lifting weights in 1942 when he was working as a gym instructor in the Royal Indian Air Force.That job ended when he slapped a British officer who had made an offensive remark about Indians, earning him a brief jail term -- a punishment he later described as a "blessing in disguise"."The jailor had been very kind and allowed me to train. In fact, he encouraged it," Aich told the Indian Express newspaper in an interview to mark his 100th birthday.He emerged from prison as India won its independence in 1947 and decided to settle in the eastern city of Kolkata, where he turned to selling coconuts for a living.But his interest in bodybuilding continued and in 1951 he travelled to Britain to take part in the Mr. Universe competition.When he missed out on the title he decided to stay on in Britain and have another go, taking a job with British Rail. In 1952 he became the first Indian ever to win.Aich died at his home in Kolkata on Sunday, his son told AFP by phone."Our father used to say discipline comes from within. He always maintained a strict regimen -- sit-ups, push-ups," said Manoj Aich. "His simple diet of milk, fruits and vegetables along with rice, lentils and fish kept him healthy. He never smoked, nor did he take alcohol."�
 Former Pakistan bowler Aaqib Javed Monday has refused to accept the post of Bangladesh�s bowling consultant.Aqib Javed, who stepped down as the UAE coach in April, is also the director of cricket operations with Lahore Qalandars in the Pakistan Super League.Earlier BCB president Nazmul Hassan has said that the board is in talks with Aqib Javed for the post of Bangladesh's bowling consultant."We are in touch with Aaqib Javed," Hassan said. "Our CEO Nizamuddin Chowdhury informed us that we will get an answer from him - yes or no - by day after tomorrow (Tuesday). We are also discussing if we can talk about the alternatives."The position became vacant when Heath Streak decided not to continue as the bowling coach last month.So far, the BCB has been in discussions with three other candidates.
 British boxer of Pakistani origin Amir Khan formally inaugurated his Boxing Academy in Islamabad late Saturday hoping it will produce champions.The Amir Khan Boxing Academy has been set up here at Pakistan Sports Complex in collaboration with Pakistan Sports Board (PSB) to train young pugilists of the country.�Pakistan is a great country. I really believe in the immense talent that we have here. That�s why I have opened this academy�, he told media after the inauguration.He said the academy was modelled after the one he established in Bolton England stating it will soon start producing world champions like United Kingdom.�I produced amateur national champions, gold medalists, European and world champions in UK and the same I want to do in Pakistan,� he maintained.Amir, a two-time former welterweight world champion, stepped up two divisions to fight Canelo Alvarez in Las Vegas last month but lost the WBC middleweight showdown.He believed Pakistan could be a top nation in boxing. �My dream has been to help Pakistan in sports. And being a boxer myself, I decided to extend support in boxing, he said.To a question about his recent statement to fight at Rio Olympics under Pakistan�s flag, he said that he was a proud British boxer who had represented the UK at the Athens Games.Director General PSB Akhtar Nawaz Ganjera on the occasion said that a Memorandum of Understanding (MoU) was signed with Amir Khan for the academy.Under the agreement, Amir would provide coaches and boxing equipment for the academy while PSB would extend all necessary support to run it in an efficient way.Earlier, British High Commissioner in Pakistan Thomas Drew also joined Amir Khan at the inauguration ceremony.�
For Andy Murray, reaching Sunday's French Open final was a bonus, but he was in no mood to look for silver linings in the aftermath of yet another grand slam reverse at the hands of Novak Djokovic.The second-seeded Briton's 3-6 6-1 6-2 6-4 defeat on Court Philippe Chatrier was his fifth loss in seven blue riband finals against the Serbian world number one, and his eighth out of 10 finals in all."I was struggling. I was a couple of points from going out of the tournament in the first round," he told reporters."But then when you get there (to the final) obviously you want to win. You know, I didn't do that today. Right now I'm very disappointed."Had he turned the tables on a player he has beaten just twice in the past 14 meetings, Murray would have become the first British man to win the French Open since Fred Perry in 1935.The last of those rare Murray victories came in May's Italian Open final, also played on clay -- a surface the Scot once mistrusted but now looks increasingly at ease on -- and in the same damp conditions that dominated this year's Roland Garros fortnight.strong>Facing a Paris crowd heavily favouring his opponent in a stadium dotted on all sides with Serbian flags, the Scot managed to carry that momentum into the early part of Sunday's match -- one he said after his semi-final win over Stan Wawrinka that he had "never expected to reach".</strongMurray won 16 of 20 points at one stage of the first set.But after failing to convert a break point in the first game of the second set, Murray lost the initiative and Djokovic kicked into a higher gear.The Serbian faltered only at the sharp end of the match, nervously dropping serve at 5-2 as the prospect of winning his fourth major in a row began to sink in, but sealing the match two games later.strong>GRACIOUS AND WITTY</strongWhen it was all over, Murray crossed the net to embrace his rival, well aware of the immensity of an achievement he paid tribute to in a gracious, witty courtside speech."Winning all four of the grand slams in one year is an amazing achievement. This is something that is so rare in tennis," he said."...So everyone here who came to watch is obviously extremely lucky to see it. Me personally being on the opposite side, it sucks to lose the match. But I am proud to have been part of today."Murray acknowledged that same sense of perspective might help him view his achievements in a kinder light at the end of his career, having shared top-four billing over many years with Djokovic and two other all-time greats of the game in Roger Federer and Rafael Nadal. Federer missed this year's tournament with a back problem and Nadal had to pull out with a wrist injury after the second round."Obviously the guys I have been around the last few years have made things difficult for me," he said."But I guess I've got a few more years to try and (win more slams). I think when I finish I will be more proud of my achievements maybe."Meanwhile next month's Wimbledon beckons, and another chance to set the record straight -- this time on a surface on which the Serbian has never beaten him.
 Former Pakistan cricket team captain and fast bowler Wasim Akram praised Mohommad Amir, calling him the 'future' of Pakistani cricket.�Answering questions on the Geo Pakistan show, Wasim said that Amir was a brilliant bowler and that he was the future of cricket in the country.�Wasim also disclosed the advice that he gave to Amir.�"I told Amir to focus on only one thing; cricket. Leave everything else," he said.�Wasim also said that one always encountered challenges in life. However, he also said that one should know how to tackle and handle those challenges.During the show, Wasim also talked about how he was bad at studies during his school days and his only focus was at sports.�"My teachers used to beat me up a lot at school," he mused.�Pakistani fast bowler Mohommad Amir made his comeback to the national side last year after a five-year ban. Amir made it back to the national squad and performed well in this year's ICC World T20 Championship.�For the upcoming England tour, Amir was picked by Pakistan to play for the country however, the cricketer is still awaiting his visa. Amir could be denied the visa to tour England, after his conviction more than five years ago in the country after his infamous spot-fixing scandal.��
 Australia wobbled near the finish yet still made an immediate statement in their opening match of the Tri-Nation Series at the Guyana National Stadium on Sunday, whipping the West Indies by six wickets in the second fixture of the tournament.</strongPut in to bat on a pitch that once again made strokeplay difficult, the West Indies collapsed from the relative comfort of 50 for one to be dismissed for 116 off just 32.3overs, losing the last nine wickets for only 66 runs on the way their lowest-ever total in a One-Day International against Australia in the Caribbean.Australia then wasted little time in getting to the modest target, David Warner stroking an unbeaten 55 to ensure that the scheduled day/night fixture was over with almost 25 overs to spare despite the loss of three wickets for seven runs with the end in sight.Spinners Sunil Narine, with two wickets in one over, and Sulieman Benn caused the discomfort but it was not enough to pull the hosts back from the abyss.The emphatic victory earned Australia a bonus point to move ahead of the West Indies in the three-team standings before Tuesday�s final game at Providence against South Africa.Boosted by a four-wicket win in the tournament-opener against the South Africans at the same venue two days earlier, the West Indies plummeted back down to earth at the feet of the World Cup-holders, whose frontline spinners Nathan Lyon and Adam Zampa did the bulk of the damage with three wickets apiece after the usual effective opening burst from Mitchell Starc.Playing his first international match for more than six months after being sidelined by injury, the left-arm fast bowler breached the defences of openers Andre Fletcher and Johnson Charles to finish with figures of two for 37 from nine overs.He showed signs of rustiness in delivering five wides and a no-ball, however his lethal pace proved more than a handful for the West Indies top order.Starc�s tally of ODI wickets is now at 92 in his 47th match and should he take eight more before the end of this competition he will eclipse Pakistan�s Saqlain Mustaq for the record as the fastest to 100 wickets in terms of matches played in this format of the international game.Charles topscored with a chancy 22 while all-rounder Carlos Brathwaite was last out for 21, Aaron Finch taking the catch at long-on to give Zampa his third wicket.Notwithstanding the turgid surface, the home batsmen contributed to their swift demise with a succession of poor shots, exemplified by Darren Bravo�s loose cover-drive at seamer Mitchell Marsh which offered a straightforward catch to Zampa at cover.Lyon, the experienced off-spinner, had an almost instant impact in disposing of Marlon Samuels and Kieron Pollard off successive deliveries. Pollard, whose unbeaten 67 guided the West Indies to victory over the Proteas two days earlier, attempted a heave over long-on to be taken by Warner on the boundary.Jason Holder gave mystery spinner Narine first use of the new ball from one end in hopes of an immediate breakthrough at the start of the Australian reply, but it was left to the captain to separate the opening pair as Warner and Finch got off to a flying start with a succession of boundaries on both sides of the wicket.They had put on 44 by the eighth over when Finch was leg-before for 19 in Holder�s first over, giving the gangling Barbadian his 50th wicket in One-Day International cricket.
 The death of boxing great Muhammad Ali cost American Muslims perhaps their greatest hero, a goodwill ambassador for Islam in a country where their minority faith is widely misunderstand and mistrusted.</strong"We thank God for him," Talib Shareef, president and imam of the Masjid Muhammad mosque in Washington, told a gathering of Muslim leaders who honored Ali in Washington on Saturday, a day after he died in a Phoenix hospital at age 74. "America should thank God for him. He was an American hero."From the turmoil of civil rights and black Muslim movements of the 1960s to the darkest days after Sept. 11, 2001, Ali was a hero that U.S. Muslims could share with part of the American mainstream.Muslims remembered Ali for many familiar reasons, hailing him as a champion of social justice, a lifelong supporter of charitable works and an opponent of the U.S. war in Vietnam.Moreover, they said, he was a Muslim that a largely Christian country came to admire, even if Ali shocked and scared much of U.S. society after he joined the Nation of Islam and changed his name from Cassius Clay in 1964."When we look at the history of the African-American community, one important factor in popularizing Islam in America is Muhammad Ali," Warith Deen Mohammed II, son of the former Nation of Islam leader, said in a statement.With some 3.3 million adherents in the United States, Muslims make up about 1 percent of the population, largely immigrants and African-Americans who have embraced the religion.Although they have integrated into society better than some of their brethren in Europe, American Muslims face hardships even as the United State grows demographically less white and less Christian.Since 2001, they have suffered backlash from those Americans who equate all Muslims with those who have attacked civilians out of some jihadist cause.Decades before, black Muslim leaders such as Elijah Muhammad and Malcolm X rattled the white establishment as religious and ethnic minorities who demanded equality for their people. Elijah Mohammad preached a version that denounced white oppression and opposed integration of the races.Ali came to be widely revered, but there was a time when he was rejected, mostly by whites by also by some black leaders for his bold statements against white supremacy and for his refusal to embrace the model epitomized by Martin Luther King, a Christian."The sanitizing of Ali's image in recent years has led many to forget that he was reviled by many during the 1960s for his conversion to Islam and for his refusal to be inducted into the U.S. armed forces," said Frank Guridy, a visiting associate professor of history at Columbia University."He was seen as a traitor to the United States of America."In the 1970s, Ali converted to Sunni Islam, the largest denomination among Muslims worldwide, and embraced Sufism, a mystical school of the faith.At the gathering of Muslim-American leaders in Washington, speaker after speaker remembered him fondly as the Muslim who Americans came to love.Ali defended Muslims last December, after Republican presidential hopeful Donald Trump proposed temporarily stopping Muslims from entering the country in the wake of militant attacks in Paris and San Bernardino, California."Our political leaders should use their position to bring understanding about the religion of Islam, and clarify that these misguided murderers have perverted people's views on what Islam really is," Ali said in a statement.He also used his influence to advocate the release of Jason Rezaian, a Washington Post reporter who spent 18 months in a Iranian prison, and for Daniel Pearl, a Wall Street Journal reporter who was captured by extremists in Pakistan and later beheaded in 2002."Muhammad Ali was a gift from God," said Nihad Awad, executive director of the Council on American-Islamic Relations, "not only to Muslims but to the world."
 �I want him to play because he adds a lot to the match.�On Paper, the other Group D matches against Panama and Bolivia look easy for title favourites Argentina and Chile.Colombia are also fretting on the possible absence of their captain James Rodriguez from their second Group A match against Paraguay at the Rose Bowl in Pasadena on Tuesday after he hurt his shoulder during the 2-0 win over hosts the United States at Santa Clara on Friday.
 India�s Mahendra Singh Dhoni said Tuesday he will remain captain as long as the country�s cricket board sees fit, ahead of a tour of Zimbabwe this month.</strongDhoni�s future as captain was called into question after India�s lacklustre showing in the World Twenty20 but the limited-overs skipper has showed no sign of surrendering to his critics.Former Team Director Ravi Shastri recently backed Test skipper Virat Kohli to lead the country in all formats, saying Dhoni should be allowed to enjoy the game as a player, free from the responsibility of captaincy."It�s not that I don�t enjoy the game, this decision (on captaincy) will be taken by the BCCI (Board of Control for Cricket in India), it�s not up to me to decide on that," Dhoni said in response to Shastri�s comments.With big guns including Kohli, Rohit Sharma, Shikhar Dhawan and Suresh Raina rested, Dhoni will have the tough task of inspiring a bunch of youngsters in the African nation.India will play three one-day internationals and T20s in Harare in the tour starting June 11, with as many as five uncapped players in the 16-man squad."I think it will be a very different experience (for me)," Dhoni told reporters in his pre-departure press conference in Mumbai.<br/>"The reason being you keep playing with almost the same group of players, so you know the roles and responsibility."There will be quite a few players in this bilateral series whom I will be playing with for the first time," said Dhoni.<br/>With quite a few Indian Premier League performers like leg-spinner Yuzvendra Chahal and medium-pacers Barinder Sran andJasprit Bumrah in the line-up, Dhoni is banking on his bowling department. "Overall they have been good on paper, both the batting and the bowling. You may say that bowling has had a bit more exposure to international cricket than our batting," said the wicketkeeper-batsman.Dhoni also said that India�s next coach should have an understanding of the "culture and upbringing" of the nation.<br/>The BCCI is in the process of recruiting a new coach, applications for which close on June 10.The captain, who had a forgettable IPL season with newcomers Rising Pune Supergiants, believes that performances in the cash-rich league are not always the best judge of a player�s international worth."I have always said IPL is a platform where you identify talent. It is very different because it is still a form of domestic cricket," he said."The moment you are told that you are representing India, there is a different pressure," said Dhoni.
 Pakistani cricketer Muhammad Amir's visa for England tour has been approved, reported Geo News on Tuesday.� Amir was named in Pakistan�s 17-member squad for the Test series against England. �</strongPakistan team would leave for England on June 18 to play four Tests, five One Days, and one T-20.Amir who was banned from cricket for five years following the Lord s spot fixing scandal in 2010 along with the then captain Salman Butt and fellow pacer Mohammad Asif had submitted a visa application to the UK high commission in Islamabad last month.The PCB had prepared a separate case for Amir while sending documents of other players for their visa to the UK High Commission in Islamabad.The PCB chief had written a letter to the UK High Commissioner seeking special and sympathetic consideration on Amir�s visa.The board was also in touch with the England and Wales Cricket Board who has been positive and cooperative in this matter right from the beginning, Associated Press of Pakistan quoted sources as saying.The source said that the PCB had only decided to apply for a visa for Amir after legal consultations.�/>���
 Pakistan left arm pacer Mohammad Amir will get his UK visa within a couple of days to play in the series against England next month.</strongAmir will travel to UK with Pakistan team as he is most likely to get his visa by this Thursday a source in Pakistan Cricket Board (PCB) told APP on Tuesday.Amir who was banned from cricket for five years following the Lord s spot fixing scandal in 2010 along with the then captain Salman Butt and fellow pacer Mohammad Asif had submitted a visa application to the UK high commission in Islamabad last month.The PCB had prepared a separate case for Amir while sending documents of other players for their visa to the UK High Commission in Islamabad.The PCB chief had written a letter to the UK High Commissioner seeking special and sympathetic consideration on Amir�s visa.The board was also in touch with the England and Wales Cricket Board who has been positive and cooperative in this matter right from the beginning the source added.The source said that the PCB had only decided to apply for a visa for Amir after legal consultations.He was not technically deported from the UK like Butt and Asif in the spot fixing case.Moreover he has also completed his term and already made a comeback to international cricket, he added.Pakistan will play four Tests five one day internationals and a one off Twenty20 against England during their three month tour with the first Test taking place at Lord s on July 14.
 As the humble daughter of factory workers at a Bangkok sweet-maker, badminton was a ticket out of poverty for Ratchanok Intanon, who hopes winning gold at the Rio Olympics might inspire more Thai girls to chase their dreams.</strongThe 21-year-old will be among Thailand's main medal hopes in Brazil and one of the chief threats to China's chances of defending their astonishing sweep of all five badminton titles at the London Games.Ratchanok is spurred by a painful memory of London, where, as a teenage sensation set to rock the Chinese establishment, she choked in a quarter-final when poised to defeat the tournament second seed, Wang Xin."Actually I think I had a chance to win or (be) close to the medals," Ratchanok told Reuters ruefully in an interview in Sydney on Tuesday."But I think I lost with the experience, because that time I was still young and she was also good, world class."So maybe... mentally she was better than me."That time, I didn't feel good after losing. I felt like I didn't want to train again. I felt I didn't want to play badminton again."But I had support. My family, who love me, just said that it's okay, you still have time. Just learn more."Ratchanok did not wallow for too long.The following year, she became badminton's youngest world champion at the age of 18 when she stunned Olympic champion Li Xuerui in the final of her home tournament in Guangzhou.Ratchanok may face Li this week at the Australian Badminton Open, the last major meeting before the Olympic tournament starts Aug. 11.strong>CONFIDENT OF SUCCESS</strongRatchanok has had injury troubles and dips in form since her world title but has been in ominous condition in recent months, capturing three consecutive Superseries tournaments to rise to the world number one ranking in April.She has since conceded it to Spain's two-time world champion Carolina Marin but her brief spell at the top sent Thailand into a frenzy.Rather than shy away from the hype, Ratchanok has embraced the expectation."I hope that I can get the gold medal for Thailand," said Ratchanok, standing on a terrace at her hotel adjacent to Olympic stadiums built for the 2000 Sydney Games."It's not too difficult for me and I believe that I can do it."Ratchanok had an unusual route into badminton, being handed a racquet at the age of six and told to go play outside the factory where her parents worked making sweet Thai desserts.Her tournament winnings and endorsements have been enough to help her parents start their own food business, while her achievements have won her friends in high places.After becoming Thailand's first world number one, Ratchanok played a game with Prime Minister Prayuth Chan-ocha during a visit to government house.During the meeting she asked him if her Chinese coach's application to become a Thai citizen could be expedited, local media reported.Xie Zhuhua, who once battled China's current head coach Li Yongbo during competition in the 1990s, has coached Ratchanok since her junior days and is seen as key to her ability to unlock the games of her Chinese rivals."He just takes care of me like I'm his daughter, because he also doesn't have (one)," Ratchanok said of their special relationship."He loves me like a daughter and takes care of me. For me, he's like a second father, so I just do my best."
strong>Neymar could follow FC Barcelona fellow star Lionel Messi to court after Spanish prosecutors asked for the Brazilian striker to be tried over his murky multi-million-euro transfer to the Catalan giants.</strongProsecutors from Spain�s top criminal court accuse the 24-year-old, his father, Barca�s ex-president Sandro Rosell and the club itself of concealing the true cost of his 2013 transfer deal from Brazil�s Santos to FC Barcelona, a judicial source said Tuesday.If the case comes to trial, Neymar will be the second Barcelona star to take the stand after Lionel Messi appeared in court earlier this month on charges of tax fraud related to income earned from his image rights.Brazilian investment fund DIS, which held 40 percent of Neymar�s sporting rights when he played at Santos, claims it was cheated of its real share of the transfer due to parallel contracts that Barcelona and Santos allegedly used to hide the total cost.They also believe a pre-contract agreement between Neymar and Barca impeded other clubs from making offers for the player, affecting the value of the transfer fee.The deal was originally valued at 57.1 million euros ($64.9 million) by Barca, 40 million of which was paid to the N&amp;N company owned by the player�s father.Santos -- where Neymar started his career -- received 17.1 million, 6.8 million euros of which went to DIS.However, Spanish judicial authorities have estimated the number of simultaneous deals in the transfer amounted to at least 83.3 million euros -- with the difference allegedly going to Neymar and his family, and Santos.Rosell resigned from Barcelona in 2014 over the affair.The club was also indicted for alleged tax fraud linked to the signing, and made a voluntary tax payment of 13.5 million euros.So far though no trial has been held.strong>- �Corruption�, �fraud� -</strongThe Brazilian football star and his father have in the past defended themselves in the media."Before saying nonsense -- that we hid this, or hid that -- they should prove it," Neymar told Brazilian TV station Globo in February, when he was called to give evidence to a judge in Madrid."My father is doing everything to ensure that I can just focus on playing football. He handles the books. But in the moment when you see someone you love suffering, it starts to hurt."Prosecutors want Neymar, his father Neymar Da Silva Santos, Rosell and FC Barcelona itself to be tried for "corruption," said the judicial source, who refused to be named.If the case comes to trial, Neymar faces a six-month to two-year prison sentence, as well as fines.Prosecutors also want Rosell, FC Barcelona, Brazil�s Santos and its president to be tried for "fraud."Neymar�s mother Nadine, meanwhile, could also be tried for having profited financially from the alleged fraudulent transfer.The player gave evidence to a judge in Spain in February as part of the probe into his transfer, as did his father.That same month, investigators in Brazil also launched proceedings against the football star and his father over the same case.Brazil�s federal prosecution service accused them of forging contracts to pay less tax.But a judge subsequently threw the tax fraud charges out, arguing that the case could not go ahead while tax authorities had yet to complete their probe.
 "I came like a king, left like a legend.""I can make him popular if I want, but I am not sure I want to," he was quoted as saying of Hollande in an interview published by Le Monde newspaper on Tuesday.Ibrahimovic made his comment on the eve of the opening of the Euro 2016 soccer championships in France when he will turn out for Sweden. Since the striker has now left PSG and may be joining another team outside France it was not clear how he thought it was within his power to help Hollande.Asked if Hollande, France's most unpopular leader since the beginning of the Fifth Republic in 1958, should target a second term next year, Ibrahimovic said: "To be honest, I don't know if he's done a good job. But that's for you, the French, to say."The 34-year-old Swede joined PSG in 2012, the same year Hollande arrived in the Elysee presidential palace, and added four Ligue 1 titles to an already loaded trophy cabinet.Hollande, meanwhile, has had a rougher ride. With his approval ratings barely into double digits, he is battling nationwide strikes against labour law reforms, stubbornly high unemployment and deep rifts within the ruling Socialist Party.Asked for his parting thoughts on France, Ibrahimovic said: "Ibra came and he seized power in France."
 An Edgar Salli thunderbolt gave Cameroon a 1- 0 victory in Mauritania Friday and a place at the 2017 Africa Cup of Nations to be hosted by Gabon.The diminutive 23-year-old midfielder from Swiss club Saint Gallen struck on the half�hour mark at a packed 10 000�seat national stadium in the Mauritanian capital Nouakchott.Mauritania failed to clear a free�kick and Salli pounced on the loose ball just outside the penalty area and slammed it past diving goalkeeper Souleymane Diallo.The home team who began the match one point behind the visitors pressed continuously for an equaliser after half�time.But hopes of drawing level were dealt a huge blow on 68 minutes when defender Moustapha Diaw was red�carded after clashing with striker Karl Toko.Frustrated supporters in a predominantly pro�Mauritania crowd hurled missiles at the Cameroon bench in the closing stages and one struck Belgium-born coach Hugo Broos.Victory lifted Cameroon to 11 points in Group M and an unassailable four�point advantage over Mauritania as each country has only one fixture to play.South Africa (three points) are away to Gambia (two points) in Bakau Saturday with only pride at stake.Four�time African champions Cameroon are the third country to qualify for the 16-team Cup of Nations after Morocco and Algeria.Morocco secured a place during March by beating Cape Verde twice within four days and Algeria booked their place Thursday through a 2-0 win in the Seychelles.The Moroccans dropped their first points and conceded a first goal in Group F when Libya snatched a stoppage�time goal to draw 1-1 in Tunis.Nabil Dirar scored off a half�volley after a corner to give Morocco a first-half lead and Sanad Ouerfelli levelled by heading a free�kick past goalkeeper Munir Mohamedi.A home fixture for Libya it was switched to Tunisia because of militia�instigated post�Moamer Kadhafi era lawlessness Former champions Tunisia took a significant step toward qualifying by winning 3-0 away to Group A whipping boys Djibouti.Naim Sliti and Hamdi Harbaoui scored during the opening half in the tiny Horn of Africa state and Taha Yassine Khenissi added a third goal just before the hour mark.Leaders Tunisia have 10 points from five matches, one more than Liberia who host third�place Togo in Monrovia Sunday.Whatever the result of the West African clash, Tunisia will win the section if they beat visiting Liberia during September.
 The record books were rewritten twice in an astonishing run spree at Nottinghamshire's Trent Bridge ground on Monday which saw a record English one-day partnership and the most aggregate runs scored in a List A match.</strongBy the close in the Royal London One-Day Cup game between Notts and Northamptonshire, statisticians were checking to see if there had ever been a day like it anywhere in the world.The big hitting began from the start with Nottinghamshire's Riki Wessels and Michael Lumb sharing a record one-day partnership in England of 342 from 39.2 overs.Wessels eventually departed for a career-best 146, from 97 balls, while Lumb went on to make 184, also his best and a record for the county, as Nottinghamshire posted 445 for 8, the second highest score for a List A match in the world.The runs continued to flow when Northamptonshire chased down what would have been another record for a team batting second. But they fell short despite 128 from Rory Kleinveldt.Their total of 425 gave Nottinghamshire victory by 20 runs in a game which saw an unprecedented 870 runs scored in the day, three more than Surrey and Glamorgan managed in 2002.Afterwards Lumb joked: "It was a bit twitchy. What a great game of cricket. Never in doubt."I was surprised they took it that deep but it's credit to them. Rory Kleinveldt was unbelievable. It was an unbelievable game. I don't think we could do too much more. I'm proud of all the boys."The Nottinghamshire stand beat the previous record in England of 318 by Sourav Ganguly and Rahul Dravid for India against Sri Lanka at Taunton in the 1999 World Cup.Lumb and Wessels' English record is the third-highest partnership in List A games, behind the 372 which Chris Gayle and Marlon Samuels took off Zimbabwe in the 2015 World Cup.The record for the highest team total is held by Surrey, who made 496-4 against Gloucestershire in 2007.List A matches are played over 40-60 overs.
 left;"><strong>Mixed martial arts fighter Kimbo Slice, who rose to fame in the early 2000s through videos of his unsanctioned street fights and backyard brawls, died on Monday at the age of 42.The cause of death was not immediately made public.</strong><br/><br/>American Top Team, a facility where he trained in Coconut Creek, Florida, announced Slice�s death on Twitter.<br/>"The ATT Family and South Florida community lost a legend today.�RIP KIMBO," their Tweet read.<br/><br/>Slice was taken from his home in Coral Gables, Florida to a hospital in Fort Lauderdale on Monday.�Sergeant Carla Kmiotek of the Coral Springs police told Yahoo Sports: "We did not receive a police or EMS call from the residence.<br/>"There is no foul play suspected and there is no investigation.�It is being handled as a medical incident.<br/><br/>"Scott Coker, president of Bellator MMA, an organization for which Slice competed, said in a statement: "We are all shocked and saddened by the devastating and untimely loss of Kimbo Slice, a beloved member of the Bellator family.�One of the most popular MMA fighters ever, Kimbo was a charismatic, larger-than-life personality that transcended the sport."<br/><br/>"Outside of the cage he was a friendly, gentle giant and a devoted family man."<br/><br/>Slice, who was born as Kevin Ferguson in Nassau, Bahamas, and attended the University of Miami and Bethune-Cook University, compiled a 5-2-1 career MMA record between the UFC and Bellator and was 7-0 with six knockouts in seven professional boxing fights.�He last fought at Bellator 149 in February, defeating Dhafir "Dada 5000" Harris.<br/><br/>Slice later tested positive for steroids, wiping the victory from the record books.
 A grieving Angel Di Maria was the inspiration as Argentina shrugged off the absence of Lionel Messi to defeat holders Chile 2-1 in their opening Copa America Centenario game here Monday.Paris Saint-Germain star Di Maria -- reeling from the death of his grandmother only hours earlier -- scored one goal and set up another as the two-time world champions avenged their defeat to Chile in last year�s Copa America final.Di Maria opened the scoring on 51 minutes and emotionally held a T-shirt up to the sky emblazoned with the message: "Grandma, I will miss you so much."Moments later Di Maria then set up Argentina�s second for Ever Banega, to complete a man-of-the-match performance."I had to play, I wanted to play, my grandmother was so proud that I played for the national team," Di Maria said during a post-match television interview before breaking down in tears.Argentina coach Gerardo Martino revealed afterwards Di Maria had kept his loss a secret from him."I just learned that five minutes ago that his grandmother died," Martino said. "He didn�t tell me anything, he was feeling well to play."Di Maria�s virtuoso display secured a deserved three points for Argentina, who will now fancy their chances of topping Group D with games against Panama and Bolivia to come.Chile substitute Jose Fuenzalida scored an injury time consolation for the holders.Injured Argentina captain Messi watched from the substitutes� bench at Levi�s Stadium after failing to recover in time from a sore back suffered in a friendly win over Honduras last month.But the Barcelona superstar�s absence was barely noticeable, with Nicolas Gaitan slotting into Argentina�s attack and making an instant impression, hitting the woodwork with a header after only two minutes.
strong>Serena Williams may have been second best at the French Open on Saturday but the American has moved ahead of fellow tennis player Maria Sharapova to top the women's earnings list in sports, according to Forbes Magazine.</strongWilliams ended the Russian's 11-year reign as the world number one women's money earner in sports by hauling in $28.9 million in combined prize money and off-field earnings over the past 12 months, the magazine said on Monday.Sharapova, who lost some sponsorship money after announcing she had tested positive for the recently banned substance meldonium at the Australian Open in January and is provisionally suspended, holds second spot at $21.9 million.American mixed martial arts standout Ronda Rousey shot up to third on the list at $14 million from eighth place and $6.5 million, just ahead of compatriot and NASCAR driver Danica Patrick, who earned $13.9 million, according to www.forbes.com.The rest of the women's top 10 were also tennis players.Poland's Agnieszka Radwanska ranked fifth at $10.2 million followed by Dane Caroline Wozniacki ($8 million), Spain's newly-crowned French Open champion Garbine Muguruza ($7.6 million), Serb Ana Ivanovic ($7.4 million), Victoria Azarenka of Belarus ($6.6) and Canada's Eugenie Bouchard ($6.2 million).
 Stuart Broad has insisted he won�t have any issues playing against Mohammad Amir should the convicted spot-fixer make his Test return at Lord�s next month.</strongLord�s was the venue six years ago when left-arm quick bowler Amir and two Pakistan team-mates were involved in the deliberate bowling of no-balls as part of a newspaper �sting� operation to demonstrate the trio�s willingness to take part in spot-fixing.A teenager at the time and one of world cricket�s undoubted rising stars, Amir was sent to jail by an English court and banned from all cricket worldwide for five years.He has now served that ban and, unlike 2010 Pakistan captain Salman Butt and fellow paceman Mohammad Asif, Amir has now been included in the squad for a four-Test series starting at Lord�s on July 14.Team officials are optimistic the 24-year-old will receive his British visa in the next couple of days following a special request for leniency from the Pakistan Cricket Board.The 2010 match, which England won by an innings, is now best remembered for the spot-fixing controversy rather than Broad�s impressive 169 � his lone Test hundred � could rankle with the England fast-medium bowler.But Broad, speaking at an event organised by England sponsor Hardy�s wine on Monday, said: "I don�t think any feelings will be dragged into this Test match from that one."There are only four players in (this) England team from then, and Pakistan had a huge change-over. So I don�t think any ill-feeling or negativity from the players will have carried through."Turning to Amir�s possible return, Broad said: "I think he�s served his time. For quality of bowler, I don�t think there is much doubt that he is up there with anyone."I�ve not played him for six years, but in 2010 he was a constant threat and man of the series. It swung round corners for him."However, citing the reaction of spectators at Lord�s to England all-rounder Ben Stokes� controversial dismissal for obstructing the field in a one-day international against Australia last year, Broad said spectators at the �home of cricket� may not welcome Amir back with open arms."The crowd might be a different story. There was a lively reaction to Ben Stokes� dismissal last year to Mitchell Starc, and it looked like a nasty atmosphere for a while."strong>�Result devalued�</strongAs for his 2010 hundred � which surpassed the highest Test score achieved by his father Chris, a former England opening batsman � Broad does not feel it was tainted by the spot-fixing furore."I do look back at it, and I�m very proud of scoring a hundred at Lord�s � and beating my dad�s highest score.""It�s certainly not devalued in my mind. I still scored those runs and (I�m) still on the honours board."Nevertheless, he added: "I think the result was devalued. We couldn�t celebrate � we didn�t celebrate � it was all a very strange time."The one-day series that followed was quite unpleasant, and the crowds reflected the bad feeling."The ongoing England-Sri Lanka series has seen Broad displaced as the world�s top-ranked Test bowler by new-ball colleague James Anderson.Anderson�s 18 wickets in the opening two matches have been central to England going 2-0 up in a three-match series ahead of this week�s third Test against Sri Lanka at Lord�s starting on Thursday."It�s a lovely accolade for our partnership that we�ve both managed to climb up the rankings like that," said Broad, who has now dropped down to third place in the standings."It�s great to have a little bit of competition, and we are both really competitive guys."
strong>Jose Mourinho's rebuilding job at Manchester United began when Ivory Coast central defender Eric Bailly became his first signing on Wednesday, joining from Spanish side Villarreal.</strongThe 22-year-old signed a four-year contract with an option for two more years, a club statement said.No fee was disclosed although media reports said United had agreed a deal of about 25 million pounds ($36.44 million) with the La Liga side."Eric is a young central defender with great natural talent. He has progressed well to date and has the potential to become one of the best around," former Chelsea manager Mourinho, who replaced Dutchman Louis van Gaal last month, said."We look forward to working with him to help nurture that raw talent."Bailly has 15 caps for Ivory Coast and was part of their 2015 Africa Cup of Nations-winning squad.He played 47 times for Villarreal after joining in 2015 from Espanyol, impressing in a back four that conceded only 35 goals in 38 La Liga matches last season and reached the Europa League semi-finals, losing to Liverpool."I want to progress to be the best that I can be and I believe working with Jose Mourinho will help me develop in the right way and at the right club," said Bailly, who will likely partner England's Chris Smalling in central defence next season.The capture of Bailly marks the first of an expected flurry of signings by Mourinho as he seeks to restore the fortunes of the 20-times English champions who won the FA Cup last season but finished fifth in the Premier League.United, who will play in the Europa league after missing out on Champions League place, are also favourites to sign Sweden striker Zlatan Ibrahimovic while Juventus midfielder Paul Pogba has also been linked with a move to Old Trafford.
strong>Russian former world number one Maria Sharapova was handed a two-year ban by the International Tennis Federation on Wednesday following her positive test for banned drug meldonium at this year's Australian Open.</strongIn a statement the ITF said the 29-year-old five-times grand slam champion's ban would be back-dated to Jan. 26 this year, meaning her results from the Australian Open where she reached the quarter-finals, would be disqualified."An Independent Tribunal appointed under Article 8.1 of the 2016 Tennis Anti-Doping Programme has found that Maria Sharapova committed an Anti-Doping Rule Violation under Article 2.1 of the Programme and as a consequence has disqualified the affected results and imposed a period of ineligibility of two years, commencing on 26 January 2016," the ITF said in a statement.Sharapova, the world's highest-paid female athlete, stunned the sporting world in March when she announced that she had tested positive for meldonium, a drug she said she had been taking for a decade to treat diabetes and low magnesium.Meldonium was added to the World Anti-Doping Agency's (WADA) list of banned substances at the start of the year after evidence that it boosted blood flow and enhanced athletic performance.After her admission, Swiss watchmaker TAG Heuer cut its ties with Sharapova while other brands such as Nike and Porsche distanced themselves from her.The ban means she will miss this year's Wimbledon championships, the title she won as a teenager to launch her career into orbit in 2004, and the Rio Olympics.At the time Sharapova, the highest-profile tennis player to fail an anti-doping test, insisted she had made "a huge mistake" blaming her failure to read an email sent by the ITF that meldonium had been added to the WADA list.Sharapova has 35 WTA singles titles and has won all four of the sport's grand slam titles.Her career earnings amount to $36 million while her off-court earnings, according to Forbes, are around $200 million.
 England have knack of coming unstuck as they chase a Test series whitewash but they will hope to complete the job against Sri Lanka at Lord�s this week -- despite clear signs of improvement from the tourists.England are 2-0 up with one Test to play, but the match starting on Thursday has more riding on it than it might appear for the hosts after recent series victories ended on a low note.Last year, having won the Ashes, England suffered an innings and 46-run defeat by Australia in the fifth Test at The Oval.There was a similarly heavy reverse in South Africa in January when, 2-0 up with one to play, England lost the fourth Test at Centurion by 280 runs.Although they won the second Test against Sri Lanka in Chester-le-Street by nine wickets, there were warning signs for England during that success.Sri Lanka, having become the first team since New Zealand in 1958 to be dismissed for under 120 in three successive Test innings, made 475 in the second knock in Durham -- including a fine hundred by Dinesh Chandimal.A typically good Lord�s pitch could make life harder still for fast bowlers in London, with the most even contest of the series so far in prospect.<br/> <br/> England�s two biggest doubts concern a pair of players who know Lord�s well as it is their Middlesex home ground.Top-order batsman Nick Compton has been struggling for runs, and fast bowler Steven Finn for wickets.With England having again selected a 12-man squad, it looks as if Compton will get another match at number three.Finn�s place is under threat from uncapped seamer Jake Ball, although England appear ready to retain the Middlesex quick.With England captain Alastair Cook now having completed the burdensome business of getting to 10,000 Test runs, the left-handed opener could be in the mood to make a major score at Lord�s.Meanwhile England new-ball duo James Anderson and Stuart Broad, first and third in the world Test bowler rankings respectively, will look to maintain their standing.Two years ago, Sri Lanka captain Angelo Mathews scored a fine Test century in a thrilling draw at Lord�s where the match went down to the last ball.For this fixture, Sri Lanka may make changes to their side.Stylish wicket-keeper/batsman Kusal Perera -- a late addition to the squad after his drugs ban was overturned by the International Cricket Council because of a faulty lab analysis in Doha -- could end more than six months out by replacing injured all-rounder Milinda Siriwardana (twisted ankle).Fast bowler Shaminda Eranga was reported for a suspect action during the second Test and is understood to have undergone tests at the England and Wales Cricket Board�s training centre at Loughborough University this week.Although Eranga is still available to play, Sri Lanka could give a debut to uncapped 29-year-old left-armer Chaminda Bandara in the absence of the injured Dhammika Prasad and Dushmantha Chameera.�
 Diana Baig, the talented 20-year-old girl plays for Pakistan�s national team in both cricket and football. She represented the country as one of the "Girls in Green" at the recent World Twenty20 tournament in India, in between practicing her penalty shoot-out skills.She grew up playing street cricket and football with other children in the magnificent Hunza Valley, their makeshift arenas ringed by some of the world�s tallest mountains in northern Gilgit-Baltistan.Baig belongs to the Ismaili sect of Shia Islam, which largely freed her from the restrictions placed on other more conservative women in the Muslim country, where her gender is battling for greater freedom.From the streets, Baig began playing in community events and for local teams, and by 2010 she was leading the newly-formed Gilgit-Baltistan women�s team.Two years later, she was selected for Pakistan�s A side, and then as a reserve player for the 2013 World Cup. In 2015, she finally won her first international cap, playing for Pakistan against Bangladesh.Her journey to the forefront of Pakistani women�s football was even more dramatic.While playing cricket in Islamabad in 2010, Baig tried out for the Gilgit-Baltistan football team on a whim after friends told her they needed players.She made the team and, to her disbelief, in 2014 was selected to play for Pakistan at the SAFF Championships in Bahrain.She has been a member of the starting 11 as a defender ever since, she says, unable to hide her excitement.Baig has had to fight harder for her cricket career.Unlike in men�s cricket, Pakistan�s women�s players are not contracted and are selected on a match by match basis from lower-ranked teams, such as the several hundred playing at the provincial level.That means that there were times when Baig was in -- and times when she was out.Now Baig is fighting to maintain a crucial balance between her sporting dreams and education."It becomes very hard," she says. "I try to start from football... I play football in the morning, then our cricket training starts around 11 or 12 noon and continues until 3:00 pm or 4:00 pm."After that, she says, she heads to her university hostel for food and drink. "I start studying during the night, continuing until late."With cricket taking up more and more time, her studies -- she is on a full scholarship at the university, where she is in her first semester of a health and physical education degree -- are suffering, Baig admits. "But one has to manage it."Though determined, she knows that one day she will have to choose. When asked which path she will take, she laughed."You know, in Asia, there is more charm in cricket," she says, acknowledging her playing for the football team is the harder road.She adds: "I see my future better in cricket."
 Cricket South Africa (CSA) have overcome their initial hesitancy and confirmed on Wednesday that the third and final test of the tour of Australia will be a day-night fixture at Adelaide Oval starting on Nov. 24.</strongThe Proteas had been reluctant to be involved in a day-night match having never played with a pink ball but with two warm-up matches under lights planned for the October-November tour, CSA said they were now willing to play the fixture."Following careful consideration and engagement with all our test players, and acknowledging the need to exploit the potential of playing day-night test match cricket, I am pleased to announce that we have agreed with Cricket Australia to proceed with this fixture," CSA chief executive Haroon Lorgat said in a statement on Wednesday."Our Proteas were initially hesitant to play such a key test match without previous experience and adequate preparation but after working through all their concerns and the possible options to prepare sufficiently, there is new-found excitement for this novel test match."South Africa captain AB de Villiers added that the major concern for the players was having adequate preparation with a pink ball."We were never against this exciting concept but only wanted to give ourselves the best opportunity of competing in conditions that will be new and foreign to us," he said."Two warm-up matches will hopefully give us an idea of what to expect and hopefully our preparations will help us to adapt accordingly."This will be the first time that our players in the test squad will play pink ball test match cricket in front of such a large crowd and to be part of this novel concept will no doubt be a landmark moment in all of our careers."The first day-night test was played between Australia and New Zealand in Adelaide last year and drew 124,000 spectators despite only lasting three days.The highest score in all four innings was 224, with Australia winning by three wickets.
 For someone who has spent six agonising months on the sidelines battling doping allegations, Sri Lankan Kusal Perera cannot think of a better place for his return than the hallowed turf of Lord�s in the third and final test against England on Thursday.</strongThe 25-year-old wicketkeeper-batsman was sent home from the tour of New Zealand in December after it was announced he had failed a drugs test last July.He was cleared last month when the International Cricket Council (ICC) dropped all charges against him after the Qatar-based laboratory that conducted the test withdrew its initial findings.Perera was not allowed to train with Sri Lanka Cricket (SLC) coaches and was called up in England only after a shoulder injury had ended paceman Dhammika Prasad�s tour."I haven�t been told if I�m playing yet but I was thrown into trouble and to come back from that at Lord�s would be a great opportunity," Kusal told reporters at Lord�s after practice on Tuesday."I was banned just before a test, so to return in this format would be fitting.Even the time I was out of the team I knew I hadn�t done anything wrong.But these things can happen in life."Perera, who has played three tests and 51 one-dayers, admitted he arrived in England undercooked, having barely trained before a series he did not expect to be involved in."I didn�t have any time to think about whether I was in touch, or whether I could train, or even what was happening in cricket."I started training the day after I was cleared.Before then I didn�t do much batting -- just some fitness work."Perera, however, felt he was fresh and striking the ball well, which might help his team salvage some pride after batting collapses in Leeds and Chester-le-Street helped the hosts open an unassailable 2-0 series lead."I watched the attack and it�s mostly fast bowlers," he said of England�s bowlers."In London, the conditions seem easier, because it must have been very cold in Durham."When it�s cold you are a bit stiff and your feet don�t work as well.With this weather and given the pitch as well -- which looks like it will be batting-friendly -- I think there�s a chance for us to dominate them."
 Colombia became the first side to reach the quarter-finals of the Copa America Centenario on Tuesday, while the United States thumped Costa Rica 4-0 to get their campaign back on track.Goals from AC Milan�s Carlos Bacca and Real Madrid star James Rodriguez secured a 2-1 win for Colombia over Paraguay in front of a vocal crowd at the Pasadena Rose Bowl in California.Victor Ayala gave Paraguay hope after pulling a goal back on 71 minutes but Colombia held on for three points which means they are assured of a top two finish in Group A and a place in the last eight.Colombia need only to draw against Costa Rica on Saturday to assure themselves of first place, leaving them a potentially easier quarter-final against the runner-up from Group B, which contains Brazil, Ecuador, Haiti and Peru.In Tuesday�s other game, US striker Clint Dempsey scored his 50th international goal as the host nation bounced back from their 2-0 loss to Colombia on Friday with a convincing rout of Costa Rica.Dempsey opened the scoring from the penalty spot after nine minutes before Jermaine Jones and Bobby Wood struck just before half-time to effectively settle the contest.Substitute Graham Zusi added a fourth goal three minutes from time, which could prove crucial if goal difference comes into play.The win came as a welcome relief for US coach Jurgen Klinsmann, whose tenure has faced mounting criticism over the past 18 months after a series of disappointing performances in competitive matches.On Wednesday, Peru could join Colombia in the quarter-finals if they manage to defeat Ecuador in Glendale, Arizona in Group B.In Wednesday�s other game, five-time world champions Brazil face an intriguing matchup against Caribbean minnows Haiti in Orlando, Florida.�
 South Africa roared back into contention in the Tri-Nation One-Day International series with a 47-run victory over Australia in the third match of the tournament at the Guyana National Stadium on Tuesday.</strongDefending a modest 189 for nine on another pitch that challenged the patience and technique of all batsmen, the Proteas bowlers were resisted only by opener Aaron Finch�s defiant 72 before he was ninth out as the World Cup-holders folded for 142 off 34.2 overs.By virtue of their margin of victory, South Africa also earned a bonus point and leapt from last to first on net run-rate over Australia, leaving hosts West Indies third.Competition resumes in St Kitts on Saturday with South Africa and Australia renewing their rivalry at Warner Park.Farhaan Behardien�s workmanlike innings of 62 held South Africa�s innings together and earned him the "Man of the Match" award. However pacer Kagiso Rabada shared the plaudits with a useful unbeaten 15 as the tail contributed important runs and then led the way with the ball as he claimed three for 13 off seven probing overs.Rabada disposed of Usman Khawaja in his opening spell and returned to account for wicketkeeper-batsman Matthew Wade and tailender Nathan Coulter-Nile in an excellent display of controlled fast bowling. His effort was supported by Wayne Parnell, who shared the new ball and got rid of the dangerous David Warner in his very first over.Playing his first ODI for almost 16 months, Parnell then trapped Australian captain Steve Smith leg-before.Spinners Imran Tahir and Aaron Phangiso then tightened the stranglehold with two wickets apiece, while Tabraiz Shamsi, the left-arm leggie, marked his debut with the wicket of Glenn Maxwell in his first over to ensure there was no escape for the Aussies."We started well with the two seamers although this wasn�t the kind of surface where they were having the time of their lives," captain A.B. de Villiers said. "(Tabraiz) Shamsi was a handful for their batters. I didn�t see a lot of them picking him."strong>- Tough games coming up -</strongEarlier, Australia�s fast bowling pair of Coulter-Nile and Josh Hazlewood proved most effective with two wickets each in restricting the Proteas after de Villiers surprisingly chose to bat first on winning the toss."We didn�t adapt well enough with the bat today," was Smith�s assessment of his team�s reply. "We�ve got a couple of tough games ahead of us now and we have to improve on this effort."Coulter-Nile, who replaced Mitchell Starc from the opening victory over West Indies two days earlier, made the most of the opportunity with a spell of two for 38 off 10 overs.He claimed the vital wickets of de Villiers and J.P. Duminy in consecutive overs to reduce the South Africans to 104 for five midway through the innings, effectively killing off any realistic chance they had of posting a formidable total.Hazlewood was even more economical in conceding 20 runs off 10 metronomic overs. He earned an LBW verdict against Quinton de Kock to break the opening partnership with Hashim Amla and returned to get rid of Parnell.South Africa entertained hopes of a challenging total when de Villiers and Amla were at the crease. The two most experienced batsmen in the side put on 40 for the third wicket before Amla was run out for the third time in ODI�s against Australia.Wickets continued to fall regularly thereafter and it was left to the lower-order players Phangiso and Rabada to assist Behardien in lifting the South Africans closer to the 200-run mark.
 Twice former champion Rafael Nadal will not play at this year�s Wimbledon due to the wrist injury that forced the Spaniard out of the French Open, he said on Thursday.</strong"I�m sad to announce that after talking to my doctors, and receiving the results of my last medical revision, I won�t be able to play at Wimbledon this year," Nadal said on his Facebook page."As you can all imagine, it�s a very tough decision, but the injury I suffered at Roland Garros needs time to heal.<br/>"Nadal�s withdrawal is a blow for the championships at which the Spaniard has been such an attraction for more than a decade,especially with his victories in 2008 and 2010.He also had to pull out before the 2009 edition of Wimbledon with a knee injury when he was defending champion, citing that as "one of the toughest decisions of my career."Nadal was also badly missed at the last fortnight�s French Open after pain in his left wrist flared up and he was forced to withdraw following a landmark 200th grand slam win over Argentina�s Facundo Bagnis in the second round.The Spaniard had needed an injection before that match and broke the news the following day to reporters that he would be forced to abandon his assault on a 10th Roland Garros title.Wearing an arm brace and appearing close to tears, the 14-times grand slam winner had said in Paris that the press conference was the hardest he had ever given.He explained that he risked further serious injury - and a likely tear of his wrist tendons - if he continued to play.<br/>The 30-year-old�s career has been littered with injuries, particularly to his knees.He also missed the U.S.Open in 2014 with a problem with his right wrist and has suffered from back and hamstring problems as well as appendicitis.Nadal, who had already pulled out of next week�s grass-court warm-up at Queen�s Club, added on Facebook that he would also miss two more of his usual pre-Wimbledon events."Thank you all for your support, especially my fans. Your kind messages mean so much to me," he added.
 Cristiano Ronaldo scored twice for Portugal before becoming the last of the superstars to arrive in France for Friday�s start of the European Championship finals.</strongWith the host nation under a state of emergency over feared terror attacks, strict security has greeted Ronaldo and other headline players as well as the hundreds of thousands of foreign fans gathering for the month-long, 51-match fiesta.France launch the tournament with a Group A game against Romania on Friday at the Stade de France, which was one of the targets of the November 13 attacks last year.And Germany defender Jonas Hector, who was playing for the world champions in Paris on the night of the attacks which killed 130 people, admitted security concerns were a distraction."It�s at the back of your mind, of course, but primarily it comes down to football and enjoyment of the game," said Hector.<br/>"It�s up to the individual whether they come to the stadium or not, anyone who does will clearly really want to be there."Ronaldo scored twice in a 45-minute appearance for Portugal in their 7-0 win over Estonia on Wednesday night, their final match before their first Group F game next Tuesday against Iceland.The three-time World Player of the Year, looking to add a first international trophy to his accolades, banished doubts over his fitness with his two-goal display in Lisbon that allowed Portugal to head for France full of confidence."It has been a long season," he said. "I would have liked to have played more tonight, but I need to hold back and give others playing time."I feel good. There is still a week to go. What I want is a good start to the Euros and an even better finish. It is a difficult competition to win, you have to go step by step."
 Often accused of not taking cricket's longest format seriously, India unveiled six new test venues on Thursday and announced a busy 2016-17 home season when they will play 13 tests against four visiting teams.</strongIndore, Rajkot, Vizag, Dharamsala, Ranchi and Pune will host test matches for the first time, the Board Of Control For Cricket In India (BCCI) announced after a meeting of its Tour Programme and Fixtures Committee.India will also play eight one-day and three Twenty20 Internationals. The only time India played as many as 13 tests at home was in 1979-80."I welcome the new test venues hosting this prestigious format of cricket and their arrival will take test match cricket to every corner of the country," BCCI president Anurag Thakur said.Indore will debut as a test venue when New Zealand visit later this year to play three tests, one of them likely to be a day-nighter, and five one-day internationals.The subsequent series against England will see Rajkot and the coastal venue of Vizag host tests for the first time.Apart from five tests, England will also play three ODIs and three Twenty20 Internationals, according to the BCCI statement.Set at the foot of the Himalayas, the picturesque Dharamsala will host its first test when Australia arrive in February to play four tests in India.The series will also feature two new venues -- Ranchi, the home town of India's limited-overs captain Mahendra Singh Dhoni, and Pune.Bangladesh will play a one-off test at Hyderabad."Some of the best teams of world cricket are coming to play in India this season and we are excited to announce the schedule well ahead of time," BCCI secretary Ajay Shirke said."This gives the staging associations and the BCCI, sufficient time to prepare and present, one of the most memorable cricketing seasons for our fans."
 Newly Head Coach of Pakistan cricket team Mickey Arthur has said that Pakistan need to improve its rankings and have to become more consistent.</strongIn his first media talk as the Pakistan coach he disclosed that he had a real plan to lift Pakistan cricket out of the dumps and hopes the players will get rid all their fears as they start a new chapter.He said he does not care if the team makes mistakes. �Professionals make mistakes,� he said."I don't want us to fear failure. I think any team that fears failure is a team that struggles, he added."I will manage issues on a day-to-day basis to make sure they don't impact the team's performance," Arthur told the reporter.Mickey Arthur who arrived here on Wednesday night called on Chairman Pakistan Cricket Board Shaharyar M Khan at Gadaffi stadium."I have had fruitful discussions with all stakeholders,� he concluded.During the meeting the newly appointed coach gave his professional opinion to lift teams performance besides discussing ways and means to enhance teams performance during the tour of England.He also discussed with the Chairman PCB his plan for the betterment of Pakistan cricket and the Chairman highlighted the priorities of the PCB in this regard said a spokesman of PCB.
 Real Madrid star Cristiano Ronaldo and Barcelona striker Lionel Messi topped the Forbes magazine list of the world�s highest-paid athletes on Wednesday in the wake of boxer Floyd Mayweather�s retirement and back surgery for golfer Tiger Woods.</strongThe annual list of total revenues for top sports stars had been topped 12 times by Woods and in three of the last four by Mayweather, who retired unbeaten last year.This year, 31-year-old Portugal forward Ronaldo topped the list at $88 million (77.2 million euros) with $56 million in salary and $32 million more from endorsement deals.The three-time Fifa player of the year is a marketing juggernaut with a new Nike deal worth $13 million annually plus endorsement partners such as Tag Heuer and Herbalife plus his own lines of suits, cologne, shirts, shoes, underwear and hotels.Messi, who sat out Argentina�s opening victory at the Copa America Centenario this week, was next at $81.4 million, with $28 million of that from sponsorships.LeBron James, who leads the Cleveland Cavaliers against defending champion Golden State in the ongoing NBA Finals, was third on the list and tops among Americans with $77.2 million. He has endorsement deals of $54 million, including a lifetime pact with Nike that could pay off to the tune of $1 billion, and $23.2 million in club salary.James made his movie debut in �Trainwreck� last year and is set to star in the sequel to the 1996 Michael Jordan film �Space Jam� as well as take a huge salary boost next year when the NBA�s new $24 billion television deal starts.Golden State�s Stephen Curry, the NBA Most Valuable Player and scoring champion, shared 69th on $23.6 million with world number one golfer Jason Day of Australia.Roger Federer, the Swiss tennis star with a record 17 men�s Grand Slam singles titles, was fourth on $67.8 million. He set the pace in sponsor income at $60 million.strong>Top 100 make $3.15 billion</strongTelevision rights fee hikes helped fuel team sport stars, boosting the top-100 cutoff to $20.8 million, $2 million more than last year. The study time frame runs for the 12 months ending one week ago.The top 100 include 65 Americans and athletes from 22 other nations encompassing 10 sports, with the most from baseball at 26. Together the top 100 took home a combined $3.15 billion, 29% of it from endorsements and appearances.The 2015 leaders, Mayweather and Filipino icon Manny Pacquiao, both sank with the end of their ring careers. Mayweather dipped to 16th with $44 million in earnings while Pacquiao was 63rd at $24 million.World number one Serena Williams, runner-up at this years French and Australian Opens, was the highest earning woman at $28.9 million, 40th overall, with doping-banned Russian tennis star Maria Sharapova 88th on $21.9 million.Sixth overall on the list was Serbian Novak Djokovic, who cracked the top 10 for the first time at $55.8 million, with $34 million in endorsements. Djokovic won the French Open last Sunday to claim his fourth consecutive men�s Grand Slam singles title and complete a career Grand Slam.Kobe Bryant, the Los Angeles Lakers star who retired after this past season, was 10th on $50 million, evenly split between salary and sponsorships.British Formula One racer Lewis Hamilton was 11th on $46 million, only $4 million from endorsements.Former world number one Woods, a 14-time major golf champion, was 12th on $45.3 million, all but about $274,000 of it from sponsorship deals.Northern Ireland golfer Rory McIlroy was 17th at $42.6 million, Spanish tennis star Rafael Nadal and Brazilian footballer Neymar shared 21st at $37.5 million.Jamaica�s Usain Bolt, who seeks more Olympic athletics sprint gold in two months at Rio, was 32nd at $32.5 million.
strong>England striker Wayne Rooney says it is highly unlikely that a scenario would arise causing him to switch allegiances to any Premier League side other than Manchester United or boyhood club Everton in the future.</strongThe 30-year-old, who will captain his country at the European Championship in France, joined United as an 18-year-old from Everton in August 2004, in a move that drew criticism from sections of the Goodison Park fan base.However, Rooney, who has won five league titles with United, thanked both the clubs for their support throughout his career."Manchester United and Everton are the only clubs I have played for as a professional footballer," he told United's club wesbite (www.manutd.com)."I am happy to say now that, whatever may happen in the future, I will never play for another Premier League club."Everton and United, along with my family, gave me the support and opportunity to help me achieve my goals and dreams.Rooney's only two league clubs will face off in his testimonial at Old Trafford on Aug 3.
 The Australian cricketers� players union on Thursday urged the sport�s national governing body to ensure conditions for this year�s two pink ball Tests are upgraded to produce high quality matches.</strongSouth Africa this week overcame their reservations and agreed to play a day-night pink ball Test against Australia in Adelaide in November, while Pakistan are scheduled to experience the new concept in Brisbane in December.Australian Cricketers� Association chief Alistair Nicholson said he had stressed to Cricket Australia (CA) the need for significant work to get the revolutionary format right after last year�s inaugural day-night Test between Australia and New Zealand finished inside three days.Players from both teams complained about the pink ball�s movement and durability, as well as the difficulty batsmen faced seeing it under floodlights."The concerns of the players run deep, and with (England captain) Alastair Cook�s comments we see they also run internationally," Nicholson said in a statement.Cook said on Wednesday there was no need for day-night Tests to be introduced for the next Ashes series in Australia in 2017-18."A lot of the games have really good attendances, so I don�t think that�s a series where you need to do it at this precise moment in time," Cook said in London.Nicholson said when the best players in the world were all expressing concerns they must be listened to and have them addressed."The message from players all over the world is clear: �We want the best quality test cricket. To achieve this there is a lot of work to be done on the pink ball format,�" he said.Nicholson added that CA must invest time and money over the next five months to develop the best possible pink ball and the best wicket to enable high quality Test cricket."That�s what the players want and the fans deserve," he said.Nicholson also wants next year�s home Ashes series against England to stay with the traditional red ball, given the reservations expressed by rival captains Steve Smith and Cook."As the issue stands the collective position on Ashes cricket is that it should be preserved as a red ball contest, and the two Test captains are clearly expressing this view," he said."With 140 years of high quality Test cricket between Australia and England we want to ensure that contest remains at the highest standard ... the players and the fans expect this."Again the test is to get this format right first, before any consideration can be given to expansion."
strong>A celebration of Muhammad Ali's life continued on Wednesday in the late boxing champion's hometown of Louisville, where a daylong "I Am Ali" Festival passed his legend on to a new generation through stories and arts and crafts.</strongCraig Davidson, 45, of Louisville, brought his 15- and 11-year-old sons to the festival to pay their last respects."I grew up as a kid at their age watching his fights," Davidson said. "I knew about his stance during the Vietnam War. ... I just wanted them to know more about him."Ali, whose boxing prowess, showmanship and public opposition to the Vietnam War made him one of the world's most famous people in the turbulent 1960s and '70s, died last Friday of septic shock in an Arizona hospital. He was 74.Plans were being finalized for the final days of mourning, including Friday's public service at the KFC Yum! Center.Before the festival started on Wednesday, fans gathered at the arena to claim tickets for the service. At least 14,000 tickets were distributed after officials released them early due to the long line of people.The final service will include such luminaries as former U.S. President Bill Clinton and comedian Billy Crystal. Actor Will Smith, who portrayed Ali in a 2001 movie, and former heavyweight champion Lennox Lewis will be among the pallbearers.The festival, at the Kentucky Center for the Performing Arts, was aimed at children, celebrating Ali's life with music, dance, and art and educational activities.Children had the chance to color butterfly and bee masks, an homage to Ali's famous quote about his boxing style, "Float like a butterfly, sting like a bee. The hands can't hit what the eyes can't see.""Today is about making sure they've got that connection to Muhammad Ali," Louisville Mayor Greg Fischer said in an interview on Wednesday. "As they grow up they can reflect back on this, so his legacy can live for multiple, multiple generations."The festival opened with the release of 30 Monarch butterflies into the air.Before Ali won the boxing heavyweight title or an Olympic gold medal, he was a young boy named Cassius Clay in Louisville who had his bicycle stolen, according to a story shared with festival attendees. When Ali turned to the police for help, he was introduced to the sport of boxing.
 All of the roughly 15,000 tickets for Friday�s public memorial service in Louisville honoring boxing legend Muhammad Ali, the city�s most famous son, have been distributed, organizers said Wednesday.</strongHundreds of people formed long lines early in the day for a chance at a seat in the KFC Yum! Center, a large sports arena, for Friday�s interfaith ceremony, at which former president Bill Clinton and comedian Billy Crystal will eulogize Ali.Ali, whose remarkable boxing career and civil rights activism made him one of the indelible figures of the 20th century, died last week at age 74 after a decades-long battle with Parkinson�s disease.Louisville, the largest city in the southern state of Kentucky and home to 600,000 people, will play host Thursday and Friday to a mass public celebration of Ali�s life."This is part of our history and I feel like Muhammad Ali has an awesome legacy," said 23- year-old waitress Andeja Tyler, who stood in line waiting for tickets."I just want to be part of it," she said.Ten ticket booths were set up to distribute four free tickets per person. In just one hour, all of them had been handed out."Muhammad Ali memorial tix are SOLD OUT. Looking forward to remembering #TheGreatest! Service will also be streamed on our outdoor jumbotron," the KFC Yum! Center said on its Twitter account.Some people spent the night in line on camping chairs and wrapped in blankets to make sure they got tickets."Muhammad Ali was such an amazing person, not only as an athlete but really a humanitarian," said Jessica Moore, the local county�s assistant district attorney."He was the people�s champion and we, being from Louisville, feel like family to him."And Ali�s family warned against potential ticket scalpers."Anyone selling or buying tickets online at Craigslist, eBay or any of the other sites that have those sales up will be reported to law enforcement," said Ali family spokesman Bob Gunnell."Scalping is still illegal in Kentucky and we have a group that are tracking those sites," he said."Frankly, this activity is despicable. It is deplorable that some people are trying to profit off the solemn service, as we celebrate the life of Muhammad Ali," he added.The Louisville ceremonies will have three key moments: an Islamic prayer service open to all on Thursday, a long public funeral procession through the city on Friday and the public memorial service.Organizers have said several heads of state will attend.Turkish President Recep Tayyip Erdogan has confirmed he will be there but President Barack Obama will not attend, remaining in Washington for the high school graduation ceremony of his eldest daughter, Malia.
 Dean Elgar has been called up by South Africa to replace injured batsman Rilee Rossouw for the rest of the Tri-Nation One-Day International series in the West Indies, Cricket South Africa said on Wednesday.</strongRossouw dislocated his shoulder in Tuesday�s 47-run victory over Australia at Providence."Rilee fell awkwardly on his shoulder while fielding the ball on the boundary.He was immediately taken to the local hospital for X-rays which confirmed he had dislocated the AC joint of his right shoulder," manager Mohammed Moosajee said in a statement."He will be unable to take further part in this series and will return back to South Africa as soon as possible.The extent of the injury and the recovery period will only be known once he has been assessed and managed by one of Cricket South Africa�s panel of shoulder specialists."Elgar, 28, last played an ODI for South Africa against India in Mumbai in October.He has played six ODIs previously for South Africa.South Africa and Australia meet again on Saturday in Basseterre in St Kitts &amp; Nevis in the fourth match of the 10-game series.
 A mass funeral procession for Muhammad Ali began Friday in his hometown Louisville, with a hearse carrying the boxing legend�s remains heading into the streets where thousands gathered to say goodbye.</strongSpectators carried signs and flowers, and some even chanted the name of the three-time heavyweight world champion, who died last week at the age of 74 after a long battle with Parkinson�s disease.The procession started at about 10:30 am (1430 GMT), roughly an hour behind schedule.The cortege will pass by sites that were important to "The Greatest": his childhood home, the Ali Center, the Center for African American Heritage -- which focuses on the lives of blacks in Kentucky -- and, of course, along Muhammad Ali Boulevard before arriving at the Cave Hill Cemetery for a hero�s burial.Many of those lining the 18-mile (30-kilometer) route took photos of the hearse and limousines carrying Ali�s relatives and close friends.Toya Johnson wore an "Ali" T-shirt and was waiting close to her hero�s boyhood home to see him one last time."He would have loved people to gather like this, so we do it. I came at 7:00 am to be sure to get a spot for my chair in the shade," Johnson told AFP."The kids love him, he�s always stood for hope in this neighborhood. For the youth here, he is an example, and this (example) is not over!"
 The Euro 2016 football championships kick off in France on Friday under unprecedented security and with President Francois Hollande vowing to take decisive action to stop strikes hitting the showpiece event.The action on the pitch starts when France face Romania in the Stade de France in Paris at 1900 GMT, but the buildup has been blighted by industrial unrest over labour reforms and fears the tournament will be the target of a terrorist attack.As bags of uncollected rubbish piled up in the streets of the capital and train drivers threatened to disrupt services to the stadium, Hollande said he would take "all necessary measures" to ensure the smooth running of the championships."I will be paying close attention... and if decisions need to be made, they will be made," Hollande said. "Public services will be provided... The whole of Europe will be watching."Up to 90,000 police and private security guards will protect players and supporters, just seven months after coordinated Islamic State attacks in Paris killed 130 people.The stringent security measures got their first real test on Thursday when superstar French DJ David Guetta gave a free performance in the fan zone at the foot of the Eiffel Tower where some 80,000 spectators had to pass through two checkpoints.The government is eager to make sure the championship goes off without a hitch, but weeks of protests and industrial action have provided a sombre prelude to Europe�s four-yearly football extravaganza.As hundreds of thousands of fans began pouring into the capital ahead of the football action, a train strike rumbled into its ninth day on Thursday, while bags of rubbish piled up on the streets.Rail workers have threatened fresh disruption on Friday on the lines serving the Stade de France.Environment Minister Segolene Royal appealed to unions to end their strike disruption, warning they were endangering the image of France, which is bidding to host the 2024 Olympics.
 Pakistan Cricket Board (PCB) has restricted fast bowler Mohammad Amir�s off the field activities in England tour by issuing a special �code of conduct� prepared for paceman.</strongAccording to the new �code of conduct� Mohammad Amir is advised to keep focus only on the game.Mohammad Amir would�not to allowed to give interviews to media. During the England tour the paceman could not sign any commercial agreement, the code of conduct stated.Sources said that Mohammad Amir has accepted PCB�s code of conduct.Mohammad Amir�s return after serving a five-year ban over spot fixing case was initially resented by some of his team mates but the 24-year-old left-arm paceman has enjoyed steady support from PCB.Newly appointed head Coach Mickey Arthur has also promised to do everything in his power to help Mohammad Amir realise his full potential after the bowler was granted a visa for the team�s upcoming tour of England.
 New Zealand on Friday named Indian-born opening batsman Jeet Raval in the squad for the upcoming four-Test tour of Zimbabwe and South Africa.Raval was the only uncapped player named in the 16-man Black Caps� squad, which also features the recall of Indian-born spinner Ish Sodhi after a two year absence.The 27-year-old Raval was a junior player in India before moving to New Zealand with his family in 2004.He averages 43.85 in first-class cricket and hit a rich vein of form for the Auckland Aces in this year�s domestic competition, including an unbeaten 202 against Otago."In the past 12 months we�ve seen his maturity and decision-making continue to improve," Black Caps coach Mike Hesson said."He�s learnt to adapt to conditions and has performed well for New Zealand A, so we believe he�s more than ready to make the step up to the international arena."Raval will be competing for an opening spot with Martin Guptill and Tom Latham, neither of whom have looked convincing against the new ball in the Test arena.New Zealand will play two Tests against Zimbabwe in Harare, starting on July 29 and August 6 respectively.They then go to South Africa for Tests in Durban and Centurion, starting on August 19 and August 27.New Zealand squad: Trent Boult, Doug Bracewell, Mark Craig, Martin Guptill, Matt Henry, Tom Latham, Henry Nicholls, Luke Ronchi, Jeet Raval, Mitchell Santner, Ish Sodhi, Tim Southee, Ross Taylor, Neil Wagner, BJ Watling, Kane Williamson (captain).�
 Police intervened to halt skirmishes involving British soccer fans and locals in the port city of Marseille overnight, just hours before the Euro 2016 championship opens in France.</strongA police official said that two British fans were injured and four police officers slightly hurt in a string of incidents in the southern French city, one of several locations that will be hosting the month-long tournament.Paris, in contrast, hosted a massive music concert near the Eiffel Tower where tens of thousands of revellers danced late into the night, with no immediate reports of major trouble.The police official said the Marseille incidents involved scuffles between about one hundred Britons and 50 or so local residents.The Euro championship was set to open later on Friday with France facing Romania under tight security at the Stade de France stadium north of Paris.
Frustrating � Czech veteran Radek Stepanek stunned second seed Marin Cilic 7-6 (7-4) 7-5 to eliminate the Croatian at the first hurdle.Argentine Juan Martin del Potro needed four match points to finally tame Australian John Millman 6-4, 6-4.Del Potro, whose good friend Rafael Nadal withdrew from Wimbledon to let a wrist injury heal, said that his own recovery form long�term wrist problems is progressing at a measured pace.�I have to be patient it can be frustrating. You want to hit hard on the grass. But this is only my first grass week and I have to deal with that and my wrist recovery.<br/> In the end I played some good tennis.�This is a special moment for me after not playing on grass since 2013. If you start well and hit hard on this surface you have a chance to win.�Third seed Thiem defeated Sam Groth 7-6 (7-3), 7-6 (7-2) despite the Australian sending down 21 aces.Thiem will line up in Friday s quarter�finals against Mikhail Youzhny after the Russian beat Sergiy Stakhovsky 6-3, 7-6 (7-1).French fourth seed Gilles Simon beat Germany�s Jan�Lennard Struff 6-4, 4-6, 6-2.
 Roger Federer made a winning return to tennis on Thursday after a month away with back pain as he finished off a Stuttgart ATP grass�court match 6-4, 5-7, 6-4 over teenager Taylor Fritz.The pair were called off court in the second round on Wednesday as heavy rains raked the Weissenhof Club with the Swiss leading 4-3.Federer who last played in a third�round Rome loss to Dominic Thiem then missed the French Open, is building for another run at Wimbledon where he is a seven-time champion.The world number three is making his first appearance in Stuttgart since 2001 when he played the indoor Masters.The 34-year-old reached another milestone as his defeat of the young American hopeful marked his 1,071st victory, tying him in second place with Ivan Lendl for the Open era win record. American Jimmy Connors holds the all�time record of 1,256 victories.Federer will next face German Florian Mayer a qualifier.Fritz, the 18-year-old world number 65, made a match of it as he played toe�to�toe with the 17-time Grand Slam winner, who badly needs match play before Wimbledon starts in just over a fortnight.Federer finished off a 29-minute opening set but found himself in a battle in the second as Fritz began gaining confidence.The youngster broke to level matters in the final game of the second set after Federer had saved three set points.In the third the Swiss top seed broke for 5-4 as Fritz lost a 40-15 lead with four consecutive errors.Federer secured the victory after one hour 40 minutes on court having saved eight of nine break points faced.Fritz was pleased with his own showing.�
 China�s Zheng Saisai put a dampener on British favourite Johanna Konta�s joy at breaking into the world�s top 20 by beating her 6-4, 7-5 in the second round of the WTA Nottingham tournament on Thursday.Konta, who this week became the first British woman since Jo Durie in 1983 to be ranked in the top 20, underwent treatment during the match after she felt a niggle in her lower back.Zheng, who Konta beat on the way to the Australian Open semi-finals earlier this year, showed some terrific form as she rebounded from going 2-0 down in the first set to break her opponent twice and take it in 45 minutes.Konta looked to be on course to level the match when she went 4-2 up in the second set.However, once again Zheng, 22, found the reserves and the spirit to fight back and kept her nerve to serve out for the match -- saving three break points to boot -- keeping alive her hopes of a first singles title on the WTA tour.Zheng will face either eighth-seeded Christina McHale or Konta�s compatriot Tara Moore.Australian Ashleigh Barty joined Zheng in the last eight with a hard fought 6-0, 4-6, 6-4 win over Andrea Hlavackova.For Barty -- a doubles finalist in both Wimbledon and the US Open in 2013 -- it will be her first WTA quarter-final since 2014 after she took time out to play cricket.
 �New Pakistan coach Mickey Arthur has promised to do everything in his power to help paceman Mohammad Amir realise his full potential after the bowler was granted a visa for the team�s upcoming tour of England.</strongAmir will return to England six years after a spot-fixing scandal in a Lord�s test resulted in bans and jail sentences for the then teenage bowler and his former team mates Salman Butt and Mohammad Asif."He served his time, he�s done it," Arthur, who coached Amir at Karachi Kings in Pakistan Super League (PSL), said in his first news conference since succeeding Waqar Younis in the post."I had Amir in the PSL, he was a fantastic professional."Other stuff is not relevant to me.The stuff that�s relevant to me is making Mohammad Amir the best he can possibly be as a cricketer."Amir�s return after serving a five-year ban was initially resented by some of his team mates but the 24-year-old left-arm paceman has enjoyed steady support from the Pakistan Cricket Board (PCB)."People can say what they like, it�s got nothing to do with me," Arthur said."If Mohammad Amir is picked in the Pakistan cricket team, which he has been for the England tour, it�s my role as head coach to make him the best possible player that he can possibly be."Pakistan will play four tests, five one-dayers and a Twenty20 International in England between July 14 and Sept.7.Arthur had a largely successful five-year stint as South Africa coach that ended in 2010 but endured an eventful two years with the Australian team until his sacking in 2013.His new role puts him in charge of an often fractious group of skilled individuals but Arthur is ready for the challenge."For me, I wanted to coach in the subcontinent at some stage in my coaching career because if you haven�t coached in the subcontinent, you haven�t really coached," the 48-year-old said.Arthur said Pakistan, currently third in the test rankings, need to do better in limited overs cricket and stressed the need to invest in players with long-term prospects.
 Uruguay were sent crashing out of the Copa America Centenario on Thursday as Venezuela and Mexico marched into the quarer-finals.Uruguay, the record 15-time Copa America champions, were eliminated in the group phase for the first time since 1997 after slumping to a shock 1-0 loss to Venezuela in Philadelphia.That result combined with Mexico�s 2-0 Group C win over Jamaica in Pasadena left the 2011 champions struggling to digest a humiliating early exit.Uruguay�s defeat also capped a miserable tournament for Barcelona superstar Luis Suarez. Suarez, nursing a hamstring injury when he joined up with the squad, has so far not played a single minute.Suarez appeared in the dugout and looked visibly frustrated at his failure to get on the pitch, at one point appearing to punch the dugout wall.Venezuela�s winner came on 36 minutes, when midfielder Alejandro Guerra cleverly spotted Uruguay goalkeeper Fernando Muslera off his line.Guerra unleashed a long-range effort from near the halfway line which the back-pedalling Muslera could only parry onto the bar before Salomon Rondon bundled in the rebound.Venezuela�s advance to the last eight is the biggest shock of the tournament so far.<br/> The Venezuelans are currently bottom of South America�s 10-team round robin qualifying competition for the 2018 World Cup; Uruguay are on top of the standings. <br/> <br/> Venezuela will now face Mexico in their final first round game to determine who finishes top of Group C.Mexico, who had beaten Uruguay 3-1 in their opening game, meanwhile proved too powerful for Caribbean minnows Jamaica in front of an 83,263 crowd at the Pasadena Rose Bowl.With California�s large population of Mexican-Americans making it a virtual home game for �El Tri�, Mexico took the lead on 18 minutes when former Manchester United and Real Madrid striker Javier Hernandez nodded in his 45th international goal.Jamaica were denied what looked like a clear-cut penalty in the second half after striker Clayton Donaldson appeared to have been fouled in the area.The drama came in the 60th minute when Donaldson rounded his marker before being cut down by Yasser Corona. Replays showed the defender didn�t get a touch on the ball.Jamaica�s misery was sealed when Mexico�s Hirving Lozano picked out Hector Herrera in the area and the midfielder nudged the ball on for substitute Oribe Peralta to stroke the ball first time inside the right hand upright on the 81st minute./> 
strong>Venezuela pulled off the shock of the Copa America so far by stunning Uruguay 1-0 to reach the quarter-finals, while Mexico also advanced with a 2-0 win over Jamaica.</strongA goal by Salomon Rondon after 36 minutes in Philadelphia was enough to give Venezuela the points and eliminate the team that leads South American qualifying for the 2018 World Cup.Midfielder Alejandro 'Lobo' Guerra lobbed Fernando Muslera from more than 30 metres and although the Uruguayan goalkeeper got a finger tip to the ball, it bounced off the bar and fell to Rondon who tapped it into the net."It was incredible what 'Lobo' did, the wit he had to hit it," Rondon said."Luckily I had time to get there and finish."The victory marked the first time Venezuela have notched two consecutive Copa America wins, while Rondon became the first Uruguay player to score in three Copa America tournaments."I am surprised. The majority of my players did not have a good game," disappointed Uruguay coach Oscar Tabarez told local radio."The Uruguay that we are saw today are a long way from the Uruguay we saw play not that long ago."Venezuela and Mexico, who each have six points in Group C, will meet next week to decide who will win the group, while Jamaica were also eliminated with Uruguay, the most successful Copa America nation.The Uruguayans, who won their 15th title in Argentina in 2011, pushed Venezuela back in the second half but lacked poise in front of goal and Muslera prevented them going further behind with a fine save from Adalberto Penaranda in the 68th minute.Edinson Cavani came close to equalising in the dying moments but was wide with one chance and had another saved by Dani Hernandez.There was to be no upset in the other match, however, with Mexico taking the lead after 17 minutes in Pasadena through Javier �Chicharito� Hernandez.The diminutive striker rose unmarked to pinpoint a glancing header into the bottom corner of the net after Jesus Corona had crossed from the left.Both sides had chances in an open and exciting game but Jamaica were let down by their finishing, particularly from Clayton Donaldson, who missed four clear-cut chances.At the other end, Jamaican keeper Andre Blake was in fine form and did well to keep the score down.Mexico were the better side, however, and Oribe Peralta, who came on for Hernandez after 77 minutes, scored just three minutes later after a quick break.The win was coach Juan Carlos Osorio's 10th consecutive victory since taking over last year."We were convincing at all the right moments," goalkeeper Guillermo Ochoa told reporters after the game. "This team has personality and character.""It's another step forward but we need to keep calm," he added. "Now we face Venezuela, which will be difficult. But we will work hard and prepare to keep moving forward."
� Jonny Bairstow rode his luck to again rescue England from a top-order collapse with a century on the first day of the third Test against Sri Lanka at Lord�s on Thursday.At stumps, England were 279 for six having been 84 for four when Bairstow (107 not out) came to the crease.It had been a similar story when Bairstow revived England from the depths of 83 for five in the first Test with a superb 140 on his Headingley home ground, in a match England eventually won by an innings and 88 runs.Apart from Bairstow, only England captain Alastair Cook (85) who won the toss in sunny conditions ideal for batting, passed fifty on Thursday with Chris Woakes 23 not out at stumps.Sri Lanka performed admirably with the ball albeit they were again sloppy in the field on a good pitch where there was a touch of seam movement.Suranga Lakmal and Pradeep shared four wickets while impressive left-arm spinner Rangana Herath rook an economical two for 45 in 21 overs.England had already won this three-Test series at 2-0 up.Cook who last time out became the first England batsman to score 10,000 Test runs and fellow opener Alex Hales compiled a serene fifty stand in 74 balls.<br/> But Herath struck with just his fourth ball when Hales (18) slogging across the line of a ball that turned was caught by Sri Lanka captain Angelo Mathews at slip.Nick Compton, England�s number three on his Middlesex home ground, fell for one when he was caught behind off a gentle Lakmal away�swinger.Lakmal struck again when he had Joe Root (three) lbw And when Pradeep bowled James Vince (10) England were 84 for four.Left-handed opener Cook was closing in on his 29th Test century when shortly before tea, he was plumb lbw to Pradeep. Moeen Ali fresh from his Test�best 155 not out at the Riverside, followed Hales in falling to the Herath-Mathews combination for 25. Bairstow strong off his pads and on the drive cut Pradeep for four to go to 94 before a single off Herath saw him to a 160-ball century.
 English and Russian soccer fans hurling bottles and chairs clashed with each other and French riot police in Marseille on Saturday ahead of their teams� opening Euro 2016 match.</strongThere were also scuffles between visiting fans and locals in the narrow streets leading off Marseille�s Vieux Port (Old Port), with some wielding cafe tables as weapons.Marseille�s emergency services said one person suffered a heart attack during the fracas and had been taken to hospital while one middle-aged England fan was knocked unconscious.Water canon trucks moved in and dozens of police armed with batons cordoned off streets, firing tear gas to break up the skirmishes."I hope they never reach the stadium," Sabine Bernasconi, a local mayor from Marseille, said.Tens of thousands of fans descended on Marseille ahead of the evening�s match.Broken glass and debris littered some roads and walkways near the Queen Victoria pub, focal point of clashes between English, Russian and French fans on Thursday and Friday.The clouds of tear gas produced images of unrest all to similar, though on a much smaller scale, to those in the city 18 years ago when violence flared for two days and nights around England�s World Cup game against Tunisia.On Friday there were nine arrests and a handful of minor injuries as riot police, out in huge numbers, seemed content to corral the various factions to areas where they could control them and rarely intervened even when large groups were chasing each other around the town in the early hours.Pictures posted online showed Russian fans proudly displaying England flags captured during violent exchanges on Friday while groups of locals also weighed in, particularly with the throwing of bottles.The Queen Victoria and next-door Irish bar were forced to close their doors to England fans late last night, and several other bars in the Old Port area have said they will not be showing the England v Russia match on TV.With up to 90,000 fans expected to fill the city, authorities were endeavouring to keep some sort of control and the atmosphere around the stadium and on the route to the fan zones was convivial.There are designated separate routes to approach the Stade Velodrome for the match while the massive beach-side fan zone has been split into two sections, each holding 40,000, in an attempt at rough segregation.The game�s 9pm (1900 GMT) kickoff left time for a formidable amount of beer to be drunk and the authorities are braced for more disorder.
Switzerland beat Albania 1-0 in their European Championship Group A clash Saturday marked by the sending off of Albania captain Lorik Cana.</strongFabien Schaer scored the only goal with a powerful header in the fifth minute of the tetchy affair in Lens. Switzerland were given a crucial advantage in the 36th minute when Cana was given a second yellow card for handball on the edge of the penalty area.Switzerland now lead Group A with France on three points.
 Chris Woakes started and finished a Sri Lanka collapse on the third day of the third Test against England at Lord�s on Saturday.</strong><br/><strong>Sri Lanka, well-placed at 162 for one overnight, were dismissed for 288 -- 128 runs behind England�s first innings 416.</strongWoakes, who took a wicket with his first ball Saturday, ended the innings with the opening delivery of a new spell on the stroke of tea when Shaminda Eranga was caught in the slips by James Vince.Warwickshire all-rounder Woakes finished with figures of three for 31 in 17.1 overs. Sri Lanka, bidding to avoid a whitewash at 2-0 down in this three-match series, resumed Saturday with Kaushal Silva 79 not out and Kusal Mendis 25 not.But they both fell for their overnight scores as Sri Lanka collapsed in overcast conditions that made batting harder than had been the case on Friday.<br/>Sri Lanka had not added a run when Woakes had Mendis lbw with his first ball Saturday to end a partnership of 54.It was just reward for the paceman, who saw Jonny Bairstow drop a simple catch off his bowling to reprieve Dimuth Karunaratne, eventually out for 50, on Friday.But wicket-keeper Bairstow, whose 167 not out on Friday was his Test-best score, made no mistake Saturday when he Silva edged Stuart Broad straight to him.Two years ago, Sri Lanka captain Angelo Mathews made a Test century at Lord�s. But the all-rounder was felled for three on Saturday, with 166 for three becoming 169 for four when he was squared up by Woakes and edged to Joe Root at second slip.England�s attack was far more accurate than it had been on Friday and Woakes, bowling at sharp pace, almost had a wicket next ball too only for Dinesh Chandimal to inside-edge a yorker that just missed the stumps for four.And 169 for four was transformed into 205 for six as under-pressure fast bowler Steven Finn took two wickets for three runs in 12 balls on his Middlesex home ground to set rid of second-Test century-maker Dinesh Chandimal (19) and Lahiru Thirimanne (17).Left-handers Kusal Perera (42) and Rangana Herath (31) fought back with a seventh-wicket stand of 71. Perera, in his first match in more than six months after a drugs ban was rescinded because of a botched test, played some bold shots -- the best a straight drive off Finn for four.<br/>At lunch, Sri Lanka were 218 for six, having just avoided the follow-on.The second session saw England captain Alastair Cook off the field after being hit below his left knee while fielding close in shortly before lunch.<br/>Joe Root, England�s vice-captain, took the new ball as soon as possible.Herath chopped on off Broad and Perera, who clearly didn�t have much confidence in the tail, was caught behind after charging down the pitch and wildly slogging at Anderson.Perera�s exit was the start of a sequence that saw all of Sri Lanka�s last three wickets go down on 288.
 Pakistan�s former captain Rameez Raja has critisised the PCB on sidelining the left arm pacer Junaid Khan during the upcoming England tour.</strongWhile talking to Geo News Rameez Raza said that Misbah Ul Haq has missed the opportunity to capitalize Junaid�s skills in English conditions.He said he was surprised why on earth a bowler of 100 numbers was not selected for England tour.�In Pakistan making a comeback is not a big deal. Janaid Khan can make a comeback,� Rameez suggested.Junaid Khan has also shown his disappointment for not being selected for the upcoming England tour.Chief Selector Inzamam-ul-Haq had said that �Junaid Khan was not in full rhythm�.Replying to this, Junaid said he was fully fit and focused during the boot camp at PMA Kakul, �where else do I prove my fitness and rhythm�.
 England sporting captains past and present, Alan Shearer and Alastair Cook head the sports stars to receive honours in Queen Elizabeth II�s birthday honours list.Shearer, former skipper of the national football side, and present cricket captain Cook are both made Commanders of the British Empire (CBE).Several notable female sporting personalities also feature including Martine Wiltshire, the sitting volleyball player and Paralympian who lost her legs in the 7/7 London bombings, for her services to sport.Shearer, who is now a respected pundit with the BBC, gets his recognition for his charitable services to the community in North East England.Cook is made a CBE for his services to cricket. Last month he became, at 31 years and 157 days, the youngest player and first English batsman to reach the landmark of 10,000 Test runs.Both Shearer and Cook have already been honoured with the former receiving an Order of the British Empire (OBE) in 2001 and the latter a Member of the British Empire (MBE) following his sterling performances in the Ashes victory over Australia in 2010/11.Cook�s team-mate, former world number one ranked bowler Stuart Broad is also honoured with an MBE.The Queen made Saturday a double cause for celebration for Welsh rugby union refereeing great Nigel Owens as he receives an MBE.On Saturday he will become the record holder for refereeing Test matches as he takes charge of his 71st, the highly-charged Pacific Islands clash of Fiji v Tonga in the hot climes of Suva.Owens, 44, who refereed the Rugby World Cup final last year, paid tribute to the many people from the rugby world who had stood by him when he came out as a homosexual in 2007 -- a far cry from when as a younger man he contemplated suicide because he couldn�t bring himself to tell his parents.Britain�s success in the Davis Cup last year was recognised with Andy Murray�s older brother doubles specialist Jamie receiving an OBE as does the non-playing captain Leon Smith.Wiltshire, 42, lost 80% of her blood and was in a coma for 10 days after being caught up in the bomb at Aldgate tube station in 2005. Seven years later, she featured at the Paralympics in London.Other women to feature in the awards include Claire Williams, the deputy team principal of Formula 1 team Williams, who gets an OBE.Hayley Turner may have retired from the saddle but her feats as a female jockey have been noted by the Queen -- a noted enthusiast of the Turf -- as she gets a MBE.Turner more than mixed it with the likes of Frankie Dettori becoming the first woman to reach the landmark of 100 winners in a calendar year in 2008.
 India handed one-day international debuts to three players as their three-match series against Zimbabwe got underway at Harare Sports Club on Saturday.Spinner Yuzvendra Chahal and batsmen Karun Nair and KL Rahul all earned their first cap, as India fielded just three players from their last ODI against Australia in Sydney.Captain Mahendra Singh Dhoni was one of them, having been selected to lead an inexperienced squad after the majority of India�s big stars were left at home.Dhoni won the toss and elected to bowl, expecting the early morning start to give his seam bowlers some assistance before the pitch flattened out under the winter sun.<br/> <br/> Teams<br/> Zimbabwe: Chamu Chibhabha, Hamilton Masakadza, Richmond Mutumbami, Vusi Sibanda, Craig Ervine, Sikandar Raza Butt, Peter Moor, Elton Chigumbura, Graeme Cremer, Taurai Muzarabani, Tendai Chatara.India: KL Rahul, Manish Pandey, Karun Nair, Ambati Rayudu, Kedar Jadhav, Mahendra Singh Dhoni, Axar Patel, Dhawal Kulkarni, Jasprit Bumrah, Barinder Sran, Yuzvendra Chahal.�
 Arturo Vidal scored a controversial penalty deep into injury time as holders Chile snatched a dramatic 2-1 victory over Bolivia to keep their Copa America Centenario campaign alive here Friday.Bayern Munich star Vidal struck from the spot in the 10th minute of time added on after a hugely debatable penalty was awarded against Bolivian defender Luis Gutierrez for handball by US referee Jair Marrufo.Television replays showed Gutierrez had his right arm behind his back to avoid conceding a handball but Alexis Sanchez�s cross struck him on the shoulder and Marrufo pointed to the spot after the apparent intervention of the linesman.Bolivia�s players surrounded the referee for angry protests but Marrufo�s decision stood and it was left to Vidal to drive home the penalty.The result gives Chile hope of reaching the last eight following their opening defeat to Argentina in Group D.Earlier a stunning 61st minute free-kick from Kuwait-based playmaker Jhasmani Campos appeared to have grabbed a share of the points for Bolivia at Gillette Stadium after Vidal had given Chile the lead just after half-time.Bolivia, beaten by Panama in their first match, have zero points from two games.After a scrappy first half, Chile looked to have taken a decisive breakthrough immediately after the restart with Vidal�s goal.Arsenal star Sanchez dispossessed Juan Carols Arce just outside the Bolivia area and fed Mauricio Pinilla.Pinilla looked up and squared for Vidal who swept in an emphatic finish to make it 1-0 on 46 minutes.Yet Bolivia got back on level terms after Chile conceded a free-kick from around 25 meters, slightly out to the right.There appeared to be little danger but Campos stepped up and produced a spectacular long-range strike which curled late before dipping into the top corner beyond the fingertips of Barcelona goalkeeper Claudio Bravo.
 Jonny Bairstow continued a brilliant year of run-scoring with a Test-best 167 not out against Sri Lanka at Lord�s on Friday.At stumps, Sri Lanka were 162 for one in reply to England�s first innings 416, a deficit of 254 runs.Kaushal Silva was 79 not out and Kusal Mendis unbeaten on 25 after left-handed opener Karunaratne made exactly 50.Considering the start of this series saw Sri Lanka become the first side since 1958 to be dismissed for under 120 in three successive Test innings, this was a fine effort.There had been signs of recovery in their last innings, where Sri Lanka made 475 in a nine-wicket defeat in the second Test, giving England an unassailable 2-0 lead in this three-match series.Karunaratne should have been out for 28 on Friday when he nicked all-rounder Chris Woakes, only for Bairstow to drop the two-handed waist-high chance.Karunaratne cashed in and after tea struck James Anderson, the world�s number one ranked Test bowler, for three fours in as many balls, including a well-hit drive.Yet having completed a 95-ball fifty, Karunaratne was dismissed when a leg glance was well caught by a diving Bairstow to give under-pressure fast bowler Steven Finn a wicket on his Middlesex home ground.Karunaratne�s exit ended an opening stand of 108 with Silva -- easily Sri Lanka�s best top-order partnership of the series.Silva took Sri Lanka to 150 with a sublime drive through extra-cover for four off Stuart Broad.It wasn�t until January that the 26-year-old Bairstow scored his first Test century.<br/> But since January 1 he has been in prolific batting form for both county champions Yorkshire and England, scoring 594 runs at an average of 118.8 in Tests and 1,127 runs in first-class cricket at 102.4.Friday saw Bairstow receive good support from Woakes (66) in a seventh-wicket partnership of 144.Meanwhile, Sri Lanka left-arm spinner Rangana Herath took an economical four for 81 in 36 overs.England resumed on 279 for six with Bairstow 107 not out and Woakes unbeaten on 23.Bairstow�s second century of the series, following his 140 on his Headingley home ground in the first Test, helped rescue England from the depths of 84 for four.Woakes was the initial aggressor on Friday and a boundary off Eranga saw him to a maiden Test fifty in 102 balls. But Woakes fell when caught and bowled by Herath off a chipped drive.Bairstow batted on and his leg-glanced four off Sri Lanka captain Angelo Mathews saw him surpass his previous Test-best 150 not out against South Africa at Cape Town in January.�
 Former West Indies cricketer Franklyn Rose, who was deported from New Zealand earlier this year, has claimed the country is not safe for international cricketers "especially if they are black".</strongRose, who was the subject of a sex assault complaint while living in the country, told Television New Zealand on Saturday he was racially stereotyped by police.The sex assault investigation was eventually dropped with no charges laid and the 44-year-old was deported in April for overstaying his visa having spent his final weeks in prison.Rose, who played 19 Test matches for the West Indies between 1997-2000 and is now back in Jamaica, had been in New Zealand since 2011 on a work visa to play and coach in Auckland."You cannot invite someone to your country to play and coach cricket, then throw him in jail for no reason, then kick him out of your country," he said."What have I done to be locked in a prison cell for seven weeks? I felt so terrified and nervous when I realised I was living with and amongst serial killers, rapists and drug dealers."Rose said he has written to the International Cricket Council stating "New Zealand is not a safe place for international cricketers, especially if they are black".He said he would have left New Zealand earlier had he not ended up in hospital after being assaulted in November 2012.While in hospital recovering from his wounds, Rose developed a blood clot in his lungs which prevented him from flying, he said, saying this was the reason he remained in the country for as long as he did.Police superintendent Bill Searle said police "strongly refute" Rose�s claim that the assault was not investigated properly, and that the investigating officer "racially stereotyped" him."A full and thorough investigation was carried out into Mr. Rose�s reported assault," Searle said."Mr. Rose�s version of events was not able to be corroborated. Mr. Rose was advised of the outcome of his case and thanked the investigating officer."Searle said Rose never complained to the police about his treatment and he later "extended an invitation to the investigating officer to bring other members of police to attend a promotional event at a bar".Searle said now Rose had made the sex assault complaint public, he could confirm the cricketer "was the subject of a police investigation earlier this year, in relation to sexual assault"."No charges were laid. However in early April, officers from the NZ police assisted with Mr. Rose�s deportation back to Jamaica."
 Lionel Messi scored a magical hat-trick in 19 minutes as Argentina cruised into the Copa America Centenario quarter-finals with a 5-0 rout of Panama on Friday.Messi had been forced to delay his debut in the tournament after a slow recovery from a lower back injury, with Argentina coach Gerardo Martino surprisingly naming him amongst the substitutes once more.But Messi wasted no time in stamping his genius on the tournament after coming on in the 61st minute to replace Augusto Fernandez with Argentina leading the Group D game 1-0.An electrifying cameo from the Barcelona superstar began with his first goal of the tournament on 68 minutes, finishing with aplomb after Gonzalo Higuain�s shot bounced off a Panamanian defender into his path.But there was no question of luck with his second, with Messi curling a wonderful free-kick into the top corner to bring the Soldier Field crowd to its feet in the 78th minute.With Panama�s heads down, Messi then duly completed his quick-fire hat-trick -- skipping clear of a marker inside the penalty area to finish emphatically for 4-0.There was still time for Messi to have a hand in Argentina�s fifth goal of the evening, providing a sublime pass in the build-up to Sergio Aguero�s close range headed effort in the 90th minute.Aguero�s Manchester City team-mate Nicolas Otamendi had opened the scoring for Argentina in the seventh minute, heading home an Angel Di Maria free-kick from close range.The victory sees Argentina, convincing 2-1 winners over Chile in their opening game, guaranteed a spot in the last eight with one group game remaining.The only blemish on the evening was an injury to Angel Di Maria, who limped off in the first half to extend his miserable record of injuries in major tournaments.Argentina are now firmly on course to top Group D, with only one game against pointless Bolivia to come.Friday�s win marked a dazzling return to the spotlight for Messi, who is determined to help lead Argentina to their first major international tournament victory for 23 years.Messi, a veteran of Argentina�s agonizing defeats in the 2014 World Cup final and 2015 Copa America final, had arrived in the United States nursing a back injury sustained during a friendly victory against Honduras last month.He was late joining up with the squad after returning to Spain to give evidence in his tax fraud trial.
 The following are a selection of key quotes from Friday�s public memorial service honoring boxing legend Muhammad Ali, who died last week at age 74 after a long battle with Parkinson�s disease:</strongRule-breake"If Muhammad did not like the rules, he would rewrite them. His religion, his name, his beliefs, were his to fashion, no matter what the cost."-- Ali�s wife Lonnie/>Face of America"Muhammad Ali was America. Muhammad Ali will always be America."-- Senior presidential aide Valerie Jarrett, reading a tribute from President Barack Obama and his wife Michelle./>Daring"He dared to love black people at a time when black people had a problem loving themselves."-- Senior Pastor Kevin Cosby, St Stephen�s Baptist Church/>Compassionate"He may have been a tough man in the ring but he was a compassionate and tender man around those he loved."-- Senator Orrin Hatch, speaking as a member of the Mormon faith/>Heart of Louisville"Muhammad Ali was the heart of this city -- the living, breathing embodiment of the greatest that we can be."-- Rabbi Joe Rapport/>Friend of Malcolm X"Having Muhammad Ali in my life somehow sustained my dad�s breath for me just a little while longer -- 51 years longer until now."-- Attallah Shabazz, daughter of slain Nation of Islam leader Malcolm X./>Conscientious objecto"At the key moment when he had that recognition, he used it to stand up to an immoral war and say, �No, I won�t go�."-- Rabbi Michael Lerner, speaking about Ali�s refusal to serve in Vietnam
 Dimitri Payet�s long-range goal gave host nation France a 2-1 victory over Romania in the opening match of Euro 2016 on Friday.</strongOlivier Giroud had opened the scoring at the Stade de France in the 57th minute but Bogdan Stancu had equalised with a penalty after veteran Patrice Evra�s foul.
 Muhammad Ali�s hometown Louisville on Friday said farewell to the boxing legend and civil rights hero, with thousands lining the streets for an emotional procession and thousands more packing a sports arena for a star-studded memorial service.</strongThe public ceremony, which began with a Quranic chant, capped two days of remembrance honoring the three-time heavyweight world champion known as "The Greatest," who died last week at 74 after a long battle with Parkinson�s disease.Former president Bill Clinton and comedian Billy Crystal were to eulogize the legendary fighter, after a funeral procession through Louisville, the largest city in the southern state of Kentucky where Ali was born at a time of racial segregation.Fans lining Louisville�s streets to catch a glimpse of the hearse carrying Ali�s remains were in a festive mood -- taking photos, cheering, applauding and chanting Ali�s name in the bright sunshine. Some even wore boxing gloves.The route covering about 18 miles (30 kilometers) passed by sites important to "The Champ": his childhood home, the Ali Center, the Center for African American Heritage -- which focuses on the lives of blacks in Kentucky -- and along Muhammad Ali Boulevard before arriving at the Cave Hill Cemetery for a hero�s burial.Spectators threw red roses and other flowers onto the hearse, blocking much of its windshield by the time it reached the cemetery. A fleet of limousines transporting Ali�s family and close friends followed in the cortege.Police officers jogged alongside the hearse as it passed Ali�s boyhood home, to keep the large crowd out of the street."The kids love him, he�s always stood for hope in this neighborhood," Toya Johnson, who wore an Ali T-shirt, told AFP."For the youth here, he is an example."Born Cassius Clay in 1942, the boxer won Olympic gold and went on to a glorious professional career, with his epic fights -- like the "Rumble in the Jungle" with George Foreman and the "Thrilla in Manila" with Joe Frazier -- now the stuff of sports legend.He shocked America by refusing to serve in Vietnam, a decision that cost him his title and his career for years. He earned scorn for his incendiary comments about his opponents, once calling Frazier a "gorilla."But Ali later earned global respect as a civil rights activist who preached religious tolerance, and for his public battle with a disease that ravaged his once powerful body.strong>- Tyson joins pallbearers -</strongActor Will Smith -- who earned an Oscar nomination for his portrayal of Ali on the silver screen -- and former heavyweight champions Mike Tyson and Lennox Lewis served as pallbearers at the burial, which was closed to the public.Tyson�s participation was only confirmed early Friday."The grief that he showed was immense, he did not know at the time if he could do that emotionally... but apparently yesterday he decided he had to be here," family spokesman Bob Gunnell said.The interfaith memorial service led by an imam began in the mid-afternoon at a huge sports arena, bringing together VIPs and fans alike.strong>- �Lost an icon� -</strongBarack Obama was not present at the funeral of the man he calls a "personal hero" since it coincides with his daughter Malia�s graduation from high school.But the US president published a video message Thursday in which he displayed two mementos given to him by "The Champ" -- a book of photographs and a set of gloves -- which he has kept near to him through his time in the White House."This week we lost an icon," Obama said in the message. "A person who for African Americans, I think, liberated their minds in recognizing that they could be proud of who they were.""I grew up watching him. I grew up having my identity shaped by what he accomplished," he said. "The incredible gestures of love and support that he showed me was one of the great blessings of my life."strong>- �Float like a butterfly� -</strongTurkish President Recep Tayyip Erdogan had been scheduled to attend Friday�s memorial service but cut short his trip to the United States after a disagreement with funeral organizers, Turkish media reported.Erdogan�s bodyguards and US Secret Service agents had also clashed briefly at Thursday�s funeral prayer service as they jointly guarded the Turkish president, the newspaper said.On Thursday, thousands came together for the Muslim service in remembrance of the champion, who converted to Islam in 1964, changing his name to Muhammad Ali.Muslim men and women prayed in separate rows, most of the latter with their heads veiled.The brief ceremony brought together dignitaries and ordinary fans, honoring a man known for both his tenacity in the ring and his social activism outside of it."My hero was locked in his body," said Louisville taxi driver Fred Dillon, referring to Ali�s fight with Parkinson�s."Now he can float like a butterfly."
strong>Croatia needed a touch of Luka Modric magic to beat Turkey 1-0 in their Euro 2016 Group D opener on Sunday, gaining a measure of revenge after their bitter quarter-final elimination by the same opponents at Euro 2008.</strongInspirational playmaker Modric put Croatia in front with a fine volley from 25 metres that bounced in front of diving Turkey goalkeeper Volkan Babacan shortly before halftime of a tense affair at Parc des Princes.The Real Madrid midfielder, who missed the opening penalty for Croatia in the 2008 shootout, made amends with an impressive display, organising his side with calm authority.A cloud of smoke after the goal suggested flares had been launched from a section of the stadium packed with Croatia fans. A smoke bomb was later thrown in behind the Croatia goal.No other incidents were reported in a game under tight scrutiny after the ugly scenes that marred Saturday's match between England and Russia in Marseille.Technically the better side, the Croatians, who had one foot in the last four eight years ago until they fell to Turkey on penalties, kept alive their hopes of surviving a tough group also featuring holders Spain and the Czech Republic, who face each other in Toulouse on Monday.Turkey, who had failed to qualify for a major tournament since their impressive Euro 2008 campaign, now face a struggle to reach the knockout stages.Turkey looked nervous in the opening stages and Croatia dictated the pace, with Modric, named man of the match, and Ivan Rakitic pulling the strings in midfield.The game was lively but with no clear chance for either side until Croatia midfielder Milan Badelj offered the first shot on target with a volley from 20 metres that failed to surprise Babacan.Seconds later, Turkey threatened for the first time with a header by Ozan Tufan from a fine Gokhan Gonul cross.The game became scrappy with quite a few fouls, notably from Turkey, and Croatia defender Vedran Corluka had to play most of the match with a bandaged, bleeding head after being elbowed by striker Cenk Tosun while fighting for a high ball.Croatia looked in command after the break and created a few opportunities, notably when captain Darijo Srna rattled the crossbar from a free kick after Rakitic was brought down outside the box.Playing a major tournament in France brings back sweet memories for Croatia, who lost in the semi-finals of the 1998 World Cup to host nation France before beating the Netherlands to finish third.
strong>European soccer's governing body warned the English and Russian football associations on Sunday that if fan violence continued their teams could be disqualified from the Euro 2016 tournament.</strong"The UEFA Executive Committee has warned both football associations that - irrespective of any decisions taken by the independent disciplinary bodies relating to incidents inside the stadium - it will not hesitate to impose additional sanctions ...including the potential disqualification of their respective teams from the tournament, should such violence occur again," UEFA said in a statement.UEFA had earlier launched disciplinary proceedings against Russia in response to their fans storming their English counterparts in the stadium."We urge both the Football Association and the Russian Football Union to appeal to their supporters to behave in a responsible and respectful manner," UEFA said.
 England captain Alastair Cook was set to undergo a fitness test as rain meant there was no play before lunch on the fourth day of the third Test against Sri Lanka at Lord�s on Sunday.Cook was unable to bat in his usual opening position on Saturday after being struck below the left knee while fielding close in earlier in the day.But as rain prevented play starting as scheduled at 11:00 am local time (100 GMT) Sunday, Cook made his way across the main ground for a fitness test batting in the nets at the Nursery End of Lord�s.An England statement said Cook�s injury had "significantly improved overnight" and team officials remain optimistic the 31-year-old left-hander, who made 85 in his side�s first innings at Lord�s, will be able to bat again in this match.The umpires had planned to hold an inspection at 10:30 am (0930 GMT) but were thwarted by a fresh shower.They then decided to bring lunch forward 30 minutes to 12:30pm (1130 GMT) in the hope of re-starting play in the afternoon session.England, bidding for a whitewash at 2-0 up in the three-match series, are 109 for four in their second innings -- a lead of 237 runs.Alex Hales is 41 not out and nightwatchman Steven Finn six not out.�
 Former England captain Donald Carr has died, at the age of 89, it was announced Sunday.The MCC flag at Lord�s, where England were playing Sri Lanka in the third Test, flew at half-mast as a mark of respect.Carr played twice for England, once as captain, on the 1951/52 tour of India.He made almost 20,000 first-class runs, in a 23-year career, was Derbyshire captain between 1955 and 1962 and a Wisden Cricketer of the Year in 1960.But Carr became better known as a cricket administrator, serving as secretary of the Test and County Cricket Board -- the forerunner of the current England and Wales Cricket Board.Carr was also an assistant secretary of MCC, managed three England overseas tours and later became an International Cricket Council match referee.Paying tribute to Carr, ECB chairman Colin Graves said: "Cricket has lost one of its greatest friends; someone who gave a lifetime of service to our game; as a cricketer, a captain, a club secretary, an England tour manager, and, of course, as a senior administrator - serving MCC and the TCCB with distinction in a leadership role as the game moved into the modern, professional era; and always meeting the many difficult challenges he faced during this period with his customary good humour and charm."He will be hugely missed by those who worked and played with him, and we send our condolences and sympathies to all in the Carr family."MCC president Roger Knight added: "Donald�s career in cricket, especially at Lord�s, is unlikely ever to be surpassed."Carr�s son, John Carr, also became a first-class cricketer, with Middlesex, and later followed his father into cricket administration.��
 India badminton ace Saina Nehwal received a huge boost ahead of the Rio Olympics as she defeated China's Sun Yu to clinch the Australian Open badminton title.Saina defeated her Chinese rival 11-21, 21-14, 21-19 in the summit clash that lasted an hour and 11 minutes.It is Saina's second Australian Open victory, having clinched the title in 2014 as well.London Olympics bronze medallist, Saina, who had beaten two world champions -- Thailand's Ratchanok Intanon (2013) and China's Yihan Wang (2011) in the quarterfinals and semifinals --, thus clinched her maiden title of the season.Saina had defeated Sun five times in the last five outings but she faced a tough challenge against the 22-year-old Chinese, who took just 18 minutes to wrap up the opening game at the Sydney Olympic Park.�Seven Indian shuttlers, including Saina and Jwala Gutta, officially earned qualification berths for the August Olympic Games in Rio de Janeiro after the much-awaited BWF world rankings were released in May.London Olympics bronze medallist Saina will be representing India in her third Games. 
 Nuwan Pradeep took three wickets and did some serious damage to a couple of England careers as Sri Lanka fought to avoid a series whitewash in the third Test at Lord�s on Saturday.England in their second innings were 109 for four at the close of the third day, a lead of 237 runs. Alex Hales was 41 not out, having been dropped on 19 and 39, with nightwatchman Steven Finn, missed on one, unbeaten on six.England, 2-0 up in the three-match series, were rocking at 50 for three before first-innings century-maker Jonny Bairstow helped Hales add 52 for the fourth wicket.However Pradeep had Nick Compton out for 19, caught behind tamely pushing at Shaminda Eranga.Compton had been promoted to open in place of England captain Alastair Cook, after the left-hander suffered a knee injury fielding close in earlier on Saturday.England were now 45 for one and that quickly became 50 for three. Joe Root (four) was bowled by an absolute shooter from Pradeep. New batsman James Vince was out for a golden duck as he deliberately played no shot to a Pradeep delivery that nipped back down the Lord�s slope and knocked over his off stump.Bairstow, in at 84 for four in the first innings before making a Test-best 167 not out, survived the hat-trick. But on 32 he too was clean bowled by Pradeep.Pradeep ended the day with three for 25 in nine overs but his figures could easily have been better.Earlier, England all-rounder Chris Woakes started and finished a collapse that saw Sri Lanka, 162 for one overnight, dismissed for 288. That gave England, who made 416 in their first innings, a lead of 128.Woakes, who took a wicket with his first ball Saturday, ended the innings with the opening delivery of a new spell when Eranga was caught in the slips.<br/> Warwickshire all-rounder Woakes took three for 31 in 17.1 overs.Sri Lanka resumed Saturday with Kaushal Silva 79 not out and Kusal Mendis 25 not. But they both fell for their overnight scores as Sri Lanka subsided in the face of increasingly accurate fast bowling, with the overcast conditions making batting harder than had been the case on Friday.Woakes had Mendis lbw with his first ball Saturday before Silva was caught behind off Stuart Broad.Kusal Perera (42) and Rangana Herath (31) checked England�s progress with a seventh-wicket partnership of 71.Perera�s bold innings was particularly impressive as this was his first match in more than six months after a drugs ban was rescinded because of a botched analysis. He was eventually caught behind after wildly slogging at James Anderson to start a slump that saw Sri Lanka lose all their last three wickets on 288.
 Opening batsman David Warner made his first one-day international (ODI) century outside Australia to set his team on their way to a 36-run victory over South Africa in the fourth match of a triangular ODI series on Saturday.After Australia made a respectable 288 for six off their allotted 50 overs, South Africa looked to be cruising to victory for much of their innings at Warner Park in Basseterre, on the Caribbean island of St Kitts.However, a persistent Australian bowling attack finally took its toll and South Africa collapsed from 210/3 in the 38th over to lose their final seven wickets for only 42 runs and were all out for 252 off 47.4 overs.Warner made 109 from 157 balls on a pitch that, initially at least, was far more conducive to runs than the slow, low surface that hosted the first three games of the series in Guyana.It was his sixth ODI century, with his previous five coming on home soil.<br/> He later injured a finger diving for a catch and left the field for treatment.The result leaves Australia with two wins from three matches, while South Africa has one win from three.West Indies have one win from two matches, ahead of their game against Australia in St. Kitts on Monday.Fast bowlers Mitchell Starc and Josh Hazlewood and spinner Adam Zampa took three wickets each for Australia.Hazlewood picked up the prized wicket of South African captain AB de Villiers (39) with a superb delivery that swung late, beat the inside edge and collected middle stump.It proved to be the turning point of the match as de Villiers departed to leave South Africa 210/4, after which it all went awry for the Proteas.�
 Eric Dier�s superb free-kick was cancelled out by Denis Glushakov�s injury-time equaliser as England and Russia drew 1-1 in their Euro 2016 Group B opener on Saturday.</strongThe buildup to the match had been marred by pitched battles between English and Russian fans in the streets of Marseille that left one British man in a critical condition.
 Nicolas Mahut warmed up for Wimbledon by winning his third �s-Hertogenbosch title after dominating a rain-delayed final on Monday.After taking the opening set 6-4 against Luxembourg�s Gilles Muller on the Dutch grass court on Sunday, Mahut wrapped up victory by claiming the second set by the same scoreline.It was his third title win in �s-Hertogenbosch, the 34-year-old eighth-seeded wild card having previously won the Dutch event in 2013 and 2015. It was his fourth career title having also won on grass in Newport in 2013."It was very moving to win my first title here in 2013. Last year, I wasn�t expecting to win. It�s almost too much to win it a third time," said Mahut, who admitted that he had forgotten to sign up for the tournament."I promise not to forget next year!" said the Frenchman who has now won 18 of 20 matches played in �s-Hertogenbosch.Mahut, currently 61 in the world rankings, faces home favourite and world number two Andy Murray in Queen�s on Tuesday.
strong>Spain are steadily turning to the next generation ahead of their Euro 2016 opener against the Czech Republic later on Monday as the defending champions look to redeem themselves after a miserable World Cup two years ago.</strongFor Spain's disappointing showing in 2014, coach Vicente del Bosque retained 16 of the squad that won the title in 2010, but only eight winners remain for Euro 2016, with players such as Alvaro Morata, Hector Bellerin and Thiago Alcantara introduced as part of a significant changing of the guard.Sergio Ramos is confident the new boys, five of whom were part of the 2013 European under 21-winning side, can lead Spain into a new golden era."People got used to us winning," he told reporters on Sunday, "and maybe we did too, we didn't value our achievements."This team can shine at the same level as before, or almost as much. The players may have less experience, but they've integrated well."Morata, in particular, looks set to play a key role as the latest player to lead the line for del Bosque who has toyed with various striking options during his eight-year tenure.Top scorer David Villa started at the 2010 World Cup, Fernando Torres scored in the victorious finals of both Euro 2008 and 2012 while Diego Costa was added to the team in 2014.Alvaro Negredo, Fernando Llorente and Roberto Soldado were all given opportunities to prove that they could be the right man to adapt to Spain's distinctive playing style.However, none of the aforementioned strikers have been included this time, with del Bosque naming Morata, Aritz Aduriz and Nolito, with Cesc Fabregas also an option to repeat his effective false nine role from Euro 2012."I think we had the best forwards in the country's history with Fernando, David and others," said Andres Iniesta, "but now it's different."We have new players like Alvaro and Aritz, and there's Cesc," he continued. "We have full confidence that they'll score goals at the critical moments."Del Bosque is delighted with the squad's blend and has warned people to expect something a little different from the team that will face the Czech Republic in Toulouse."If you consider some of my past teams, it's not the same now," the coach said. "We have younger players and we have veterans. We have confidence in all of them."
 India leg-spinner Yuzvendra Chahal picked up three wickets as Zimbabwe were bowled out for a paltry 126 in the second one-day international at Harare Sports Club on Monday.Chahal overcame a brief onslaught from Vusi Sibanda to trigger a dramatic Zimbabwe collapse, which saw the hosts lose five wickets for the addition of just six runs.Sibanda�s positive strokeplay had taken Zimbabwe to a promising 106 for three after they had lost the toss and been sent in to bat, but Chahal picked up the wickets of Sikandar Raza, Elton Chigumbura and Sibanda in the space of nine deliveries.Zimbabwe�s cause was not helped by the fact that Sean Williams was unable to bat.After being named as a replacement for the injured Craig Ervine, Williams was hit on the finger whilst warming up and sent for an X-ray.Chahal finished with figures of 3 for 25 from six overs, while seamers Barinder Sran and Dhawal Kulkarni picked up a couple of wickets apiece.Sibanda�s 53 was the top score for Zimbabwe.India lead the three-match series 1-0 after winning the first ODI by nine wickets. 
 Lewis Hamilton would not have put money on his title fortunes turning around so quickly but the Mercedes driver could be back on top of the Formula One world championship as early as next weekend.Victory in Sunday�s Canadian Grand Prix, following the Briton�s fortunate win in Monaco two weeks earlier, transformed his chances of ending the season with a fourth drivers� crown.From being 43 points behind German team mate Nico Rosberg two races ago, Hamilton heads for Azerbaijan and Sunday�s inaugural grand prix in Baku trailing by nine.Rosberg won the opening four rounds of the season but his form has taken a dive since he and Hamilton collided in Barcelona last month.Both Mercedes drivers retired from that race, while Rosberg was seventh in Monaco and fifth in Canada.On the flip side, it is a positive in terms of the points but Nico is going to continue to push and I will continue to push."Hamilton made another poor start in Montreal, after an issue with the clutch, which allowed Ferrari�s Sebastian Vettel to grab the lead at the Circuit Gilles Villeneuve while the Mercedes drivers again banged wheels.While Rosberg went off, Hamilton was able to recover and his one-stop strategy proved decisive.Hamilton dismissed suggestions that Rosberg was feeling the pressure, responding: "What would lead you to think he has been rattled? I don�t get that sense. I think he is still pushing but we are starting to have cleaner weekends."Hamilton also sensed a growing belief among his mechanics, many of whom worked with Rosberg last year.�
strong>Germany may have won their opening Euro 2016 game against Ukraine 2-0 on Sunday, with talismanic captain Bastian Schweinsteiger scoring late, but the victory also highlighted the need for defensive repairs.</strongThe world champions looked to be heading in the right direction when defender Shkodran Mustafi, starting in place of the injured Mats Hummels, headed them into the lead from a free kick, something they had worked on in the run-up to the tournament.However, instead of sitting back and relaxing, Germany coach Joachim Loew had to wait until stoppage time for his team to secure victory when Schweinsteiger netted just minutes after coming on as a substitute.Group C rivals Ukraine sliced open Loew's makeshift rearguard time and again in the first half with Mustafi and Jerome Boateng failing to work well together.Boateng did produce a spectacular goalline clearance but full backs Jonas Hector and Benedikt Hoewedes also struggled to contain the speed of wingers Andriy Yarmolenko and Yevhen Konoplyanka.The German defence was always going to be problematic with Hoewedes and Boateng only recently back from long injury absences.Hummels, Boateng's partner in the middle during their 2014 World Cup triumph in Brazil, is temporarily sidelined while fellow centre back Antonio Ruediger was ruled out of the Euros with torn knee ligaments.Ukraine were unable to sustain the same tempo after the break but their display showed Germany they will need to raise their game against Poland on Thursday.strong>BETTER ORGANISED</strong"We had to make adjustments in defence," said Loew. "We lost a lot of possession in the first half."In the second half we were better organised and had more control of the ball."Mustafi's stoppage-time header back to keeper Manuel Neuer that almost gifted the Ukrainians a goal was indicative of the overall performance in defence."It was an open game, a flowing game," said Mustafi. "We had a situation where we were open -- it was a game we did not want."Germany will draw confidence from Schweinsteiger's never-say-die attitude, with the holding midfielder's presence crucial to the team's overall spirit.Schweinsteiger has been injured for months, with his very participation in the Euros in doubt, and his goal could not have come at a better time to inspire the squad as they bid to win the competition for the fourth time."We know now that we have to raise our level and hopefully we will do it for Poland," said Neuer.
 India�s cricket board has received 57 applications for the position of head cricket coach, with speculation rife about the possible candidates including Australia�s Stuart Law and Dav Whatmore.</strongThe board has kept the list of applicants tightly under wraps, but former team director Ravi Shastri, current chief selector Sandeep Patil and ex-fast bowler Venkatesh Prasad are among those to have publicly expressed interest.The Board of Control for Cricket in India (BCCI) posted the advert for the job earlier this month after Shastri�s contract ended after the World Twenty20 in April.The BCCI said on Sunday that the list of 57 will now be scrutinised, with a final decision expected to be made before India tour the West Indies in July."After this initial scrutiny, the list of candidates who meet the criteria will be processed for further consideration," the BCCI said in a statement.Law, a former coach of Bangladesh, and Whatmore, who was sacked by Zimbabwe this month, are among the foreigners suggested in Indian media as possible contenders.Limited-overs skipper Mahendra Singh Dhoni said last week that whoever wins the role needed to have an understanding of the country�s "culture"."More than Hindi, English, one who understands our culture and our upbringing, the one who understands these sorts of things, he will always be better with us," said Dhoni."In the past, too, these things have been important, and the coaches who have understood us better, it has made a difference at the ground level."�
 Much in talks Pakistan�s left-hand pacer Mohammad Amir has finally received the traveling documents of UK on Monday.</strongPakistan Cricked Board (PCB) has confirmed receiving Mohammad Amir�s traveling visa for up-coming England tour, local media reported.According to the Briton�s laws the pacer has been granted sports visa for six months, said the PCB.Mohammad Amir�s return after serving a five-year ban over spot fixing case was initially resented by some of his team mates but the 24-year-old left-arm paceman has enjoyed steady support from PCB.The newly appointed head Coach Mickey Arthur has also promised to do everything in his power to help Mohammad Amir realise his full potential after the bowler was granted a visa for the team�s upcoming tour of England.Pakistan Cricket Team is scheduled to leave for England on 18th of this month and will play four test matches, five ODI and one T20 against the home team.The first test of the series will be played from July 14 at Lords.
 Sri Lanka Cricket will lodge a complaint with the International Cricket Council (ICC) against an "unacceptable" reprieve for England batsman Alex Hales in the third and final test at Lord's, SLC president Thilanga Sumathipala has said.</strongNuwan Pradeep clean bowled Hales, then on 58, in England's second innings on Sunday but it was adjudged a no-ball by umpire Rod Tucker, even though replays suggested a fraction of the paceman's shoe was behind the popping crease.Hales capitalised on the reprieve to score 94 before he was finally dismissed but his reprieve prompted the visitors to briefly unfurl a Sri Lankan flag from the balcony in a perceived mark of protest."The management on tour is very sad about that decision and it will be reported to the ICC," Sumathipala, who termed it "unacceptable", said.Coach Graham Ford, who complained to match referee Andy Pycroft after Sunday's play, played down the unfurling of the flag by the team, who have already surrendered the three-test series after crushing defeats in Leeds and Durham.The SLC chief, however, saw it differently."The flag is a symbol," Sumathipala said. "It is a mark to say we are not happy with the decision. (It was unfurled) To show solidarity and fight back."Ford said Tucker had apologised for the mistake and the coach was of the view that front-foot no-ball calls should be taken out of the on-field umpire's hand."It just seems strange that with the technology that is available you can get a line call wrong," Ford said."You'd think the best solution would be for the umpires to worry about what's going on down the other end and for technology to look after the line call."Meanwhile, England paceman James Anderson was reprimanded for "conduct that is contrary to the spirit of the game" during the match, the ICC said in a statement.Anderson was guilty of showing disrespect to umpire S Ravi, who had asked the paceman not to verbally engage with Sri Lankan batsman Rangana Herath during the visitors' first innings.Sri Lanka resume Monday's final day on 32 for no loss, needing 330 more runs to salvage some pride in the series in which they have been thoroughly outplayed.
 Australia vice-captain David Warner has a fractured left index finger, the team announced on Sunday.Opening batsman Warner suffered the injury while fielding during Saturday�s victory over South Africa in the triangular one-day series in St Kitts."We will assess the situation over the coming days to see if the injury requires a surgical option but should that not be the case then David is likely to be available to return to play in somewhere between two and six weeks," team doctor Geoffrey Verrall said in a statement.The final of the triangular contest, which also includes the host West Indies, will be played on June 26, which seems to rule Warner out for the rest of the series.The injury comes as the left-hander is in some of the best form of his career.Warner was named man of the match on Saturday after completing his first ODI century outside Australia, a knock of 109 off 120 balls at the appropriately-named Warner Park.Just two weeks ago he captained Sunrisers Hyderabad to victory in the final of the Indian Premier League.Warner is looking at the positives of his enforced absence after a busy stretch of cricket."It�s obviously disappointing to be sidelined given the form I�ve been in (but this) will give me the chance to freshen up and spend quality time with my family after an intense period of action."Australia lead the triangular series with two victories from three games.<br/> They next meet West Indies in St Kitts on Monday.�
strong>Stand-in centre back Shkodran Mustafi headed his first goal for Germany and Bastian Schweinsteiger scored in stoppage time as the world champions survived several scares to beat Ukraine 2-0 in their opening Euro 2016 Group C match on Sunday.</strongMustafi, who started in the absence of regular centre back Mats Hummels, rifled home a header after 19 minutes to give Germany the lead, which was not extended until Schweinsteiger, a 90th-minute substitute, swept home from close range.Germany, bidding for a fourth Euro triumph but first since 1996, dominated possession, but also relied on three top saves from keeper Manuel Neuer and a goal-line clearance by Jerome Boateng to come out on top.Ukraine, playing in their second European championship, harried and hustled their opponents and their tight defence offered few clear sights of goal to the Germans.Yet lone striker Roman Zozulya was unable to offer much threat, except at the very start and in the closing stages as Ukraine pushed on in search of an equaliser.In a breakneck first half, Ukraine's Yevhen Konoplyanka forced Germany keeper Neuer to make a flying save in the fourth minute before the Germans steadily took control, with Toni Kroos orchestrating most of their attacks.It was from his free kick, that Mustafi, who last featured for Germany in March and only made the side because Hummels was recovering from a muscle injury, leapt behind Serhiy Sydorchuk to power in a header.Ten minutes later Sami Khedira had the chance to double Germany's lead as Kroos floated a ball beyond the defence, but he shot straight at the keeper.By then though, the Ukrainians had woken up and, driving their full backs higher up the pitch, forced Neuer to punch over a strong header from Yevhen Khacheridi.Boateng was then forced into a dramatic clearance, having first lost the ball before hacking it clear while back-pedalling into the net. Lone striker Zozulya also had an effort disallowed for offside as Germany hung on until halftime.Ukraine posed less of a threat in the second half, relying on hopeful long balls forward, while their keeper Andriy Pyatov was forced into action to save a long-range effort from Khedira, a low drive from Thomas Mueller and from Mesut Ozil, when he was through on goal.Germany suffered one final fright when Mustafi headed back over Neuer's head, leaving the goalkeeper to scramble back towards his own net, while appearing to body check substitute striker Yevhen Seleznyov in the process.Then, in the final seconds, with Ukraine pushing up, Germany countered and Schweinsteiger slammed in an Ozil cross to score.The result extended Germany's unbeaten run against Ukraine to six matches and maintained their record of never having lost their opening match in a European Championship.Germany will play joint group leaders Poland at the Stade de France on Thursday, when Ukraine take on Northern Ireland in Lyon.Several hours before the match, German and Ukrainian supporters scuffled briefly in the centre of Lille, though police quickly brought the situation under control.
 Sri Lanka coach Graham Ford called for all no-ball decisions to be taken by the third umpire as his side reacted to an incorrect call in the third Test against England with an extraordinary flag protest at Lord�s on Sunday.At stumps, Sri Lanka were 32 without loss in their second innings, needing a further 330 runs on Monday�s fifth and final day to reach an imposing victory target of 362.More realistically, their goal was to prevent England, already 2-0 up in the three-match series, taking the 10 wickets they needed to complete a whitewash.But England captain Alastair Cook, 49 not out batting down the order after a knee injury suffered while fielding, may not have been able to declare his side�s second innings on 233 for seven had a few close calls Sunday gone Sri Lanka�s way instead.Significantly, Sri Lanka thought they had Alex Hales -- who went on to make 94 -- out for 58 when he was bowled by Nuwan Pradeep. But Australian umpire Rod Tucker had already called a no-ball. Replays suggested Pradeep�s front foot may have been behind the crease but fielding teams are unable to challenge a no-ball call by an umpire and Hales survived.In February, a similar incident saw Australia�s Adam Voges make 239 in a Test against New Zealand in Wellington after being reprieved on seven following an incorrectly called no-ball by English umpire Richard Illingworth.Under International Cricket Council regulations, the third umpire is powerless to intervene in such situations.There are proposals on the table to prevent a repeat of these types of incidents and Ford said: "The ICC have to look at it."It seems strange with the technology available that you can still get a line call wrong," the South African added."The best solution is for the umpires to worry about what�s happening down the other end and let technology look after the line call. "The game has a funny way of kicking you when you are down. That was a kick we didn�t need."The Sri Lanka management reacted to Hales�s reprieve by draping the national over the tourists� dressing-room balcony for some 45 minutes.Ford said this wasn�t so much a protest as a gesture of solidarity with the players out on the middle."At that stage we felt the boys were fighting hard and we wanted to show our support from the dressing room to boost their morale --only for us to find out that�s not the done thing and we had to take it down," said Ford.He added that Tucker had apologised to Sri Lanka captain Angelo Mathews for his mistake."He got the news from the third umpire and he apologised to Angelo. It was very good of him to have done that and we move on."Hales, for all his good fortune Sunday, was still left waiting for a maiden Test hundred.The Nottinghamshire opener, out for 86 and 83 in the first two Tests, got closer still on Sunday before he was lbw to medium-pacer Mathews.Somewhat ironically, in view of Sri Lanka�s earlier protest, Hales sought a review of the decision only for DRS to find in the tourists� favour on this occasion."It�s disappointing again to come so close," said Hales, whose 126-ball innings included 10 fours and a six."But it was pretty decent delivery and I had my fair share of luck -- bowled off a no-ball, umpires calls and edges -- I guess the luck ran out."
strong>Substitute Raul Riudiaz's hotly disputed goal earned Peru a shock 1-0 win over Brazil in Foxborough, Massachusetts on Sunday, the defeat knocking the five-times world champions out the Copa America at the group stage.</strongThe Peruvian forward appeared to use his hand to score from close range with 16 minutes remaining and after a long delay while the referee consulted with his assistant while taking advice through an earpiece, he allowed the goal to stand.Television pictures showed Ruidiaz grinning after the goal had been awarded but the Brazilian players were apoplectic with rage at a decision that sent them tumbling out of the tournament before the knockout stages for the first time since 1987."We saw that the ball hit his hand but you can't complain," Brazil centre half Miranda told reporters. "(The referee) said he discussed it with four officials and that they didn't see the handball."Brazil tried from the first minute to score but the ball didn't want to go in unfortunately, and that's football. If you don't score you pay for it."The result lifted Peru to the top of Group B and eliminated Brazil, who dropped down to third place behind Ecuador in the tournament being played in the United States to celebrate the centenary of governing body CONMEBOL and the Copa America.Following the conclusion of the first two groups in the 16-team competition, Peru will play Colombia in the quarter-finals in New Jersey on Friday, while the host nation will take on Ecuador in Seattle a day earlier.Mexico, Venezuela and Argentina have already qualified from the other two groups with a match to play with either Chile or Panama joining them in the quarter-finals pending the result of their showdown on Tuesday.strong>MISSED OPPORTUNITY</strongThe loss was a harsh one for Brazil, who knew a draw would have been enough to see them advance and were generally the better team without ever really threatening the Peruvian goal.Peru upped the tempo after a lacklustre first half and the controversial decider came after 74 minutes when Andy Polo whipped in a low cross that fell just behind the onrushing Ruidiaz inside the six-yard box.The Universitario player appeared to handle the ball into the net to the immediate anger of the Brazilian players, who surrounded the Uruguayan referee along with several Peruvians before the official opted to give the goal after a long delay.Elias then missed a golden opportunity to equalise for Brazil in injury time but he failed to connect properly with only the goalkeeper to beat.The result came just hours after Ecuador hammered a hapless Haiti 4-0 to guarantee their quarter-final berth.Enner Valencia opened the scoring after 10 minutes and Jaime Ayovi doubled Ecuador's advantage nine minutes later after a swift counter-attack.Christian Noboa made it 3-0 with a well-placed shot after 56 minutes before Antonio Valencia tapped home the fourth after another break on 77 minutes.The result left Haiti, who were competing in the competition for the first time, bottom of the group on no points and a goal difference of minus 11.
 Turkey�s young midfielder Ozan Tufan was Tuesday targeted by mockery at home and abroad after pictures showed him smoothly adjusting his hair at the very moment Croatia�s Luka Modric scored a stunning match-winning volley in Euro 2016.</strongTufan, 21, was scapegoated by many fans for Turkey�s disappointing 1-0 defeat by Croatia over the weekend, which left the team with a mountain to climb to make it out of the group stages at the tournament in France.The Fenerbahce player was seen jogging languidly out of the penalty area and running his hands through his locks when Modric clattered the stunning volley over Tufan�s head.The player was oblivious to what happened until he looked round to see the ball in the Turkish net. Furious Turkish fans on Twitter posted pictures showing Tufan as a model in a shampoo commercial or as a crooner on a 1970s record cover with the fashionable curly locks of the time."While Modric lets rip Tufan is in the middle of a hair commercial," fumed one Twitter user. The incident has played into the fears of many Turkish fans that their stars, who enjoyed a meteoric rise to fame and fortune, lack the sheer hunger and toughness for the big stage.Turkish fans also shared a viral cartoon of Tufan by caricaturist Omar Momani showing the player admiring himself in the mirror with a hair-dryer stuffed down his shorts as Modric strikes the winning goal.However with much of the vitriol on Twitter coming from fans of his club�s arch rivals Galatasaray, the chairman of Fenerbahce rallied behind the player."After the match, I saw that many newspapers were putting all the blame on the back of Ozan," Aziz Yildirim was quoted as saying by the Hurriyet daily."The boy is just 21 years old and represents the future of Turkish football. I cannot accept that we put all the blame on a 21-year-old."Croatia played much better than us. If we need to apportion blame then look at the training, all the players, the federation," he said.Turkey face defending champions Spain in their next match on June 17 and another loss would almost certainly mean the team does not make the knockout stages.
strong>Dutchman Ronald Koeman was named as Everton's new manager on Tuesday after Premier League rivals Southampton reluctantly accepted his resignation.</strongEverton had targeted former Ajax Amsterdam coach Koeman since parting company with Roberto Martinez last month."We are really pleased to have secured the man who was our number one target from the moment we set out to appoint a new manager," chairman Bill Kenwright said on the Everton website."The hopes and aspirations that we all have as Evertonians are with him, as is our total support at board, shareholder and fan level."Koeman, a European Cup winner as a player with Barcelona, joined Southampton from Feyenoord in 2014, guiding them to seventh place in his first season and sixth last term, earning a Europa League spot.Everton finished a disappointing 11th last season but are set for significant investment after Iranian businessman Farhad Moshiri purchased a 49.9 percent stake in the Merseyside club."Everton is a club with a great history and real ambition and it is a proud feeling for me to be part of what we want to go and do, together with the chairman and Farhad Moshiri," Koeman, 53, told www.evertonfc.com."I am looking forward to meeting everyone at the club and to preparing for a big season in the Premier League."Confirming Koeman's departure, Southampton said the hunt had already started for his replacement."The search has already begun for the right appointment who can take the club to the next level and build on our track record of recent success," a statement said."Our focus now is to build on our long-term plan, and work with a new management team who share both the club's and our supporters' values and ambitions."
strong>France wants to deport almost 50 Russian soccer fans, Alexander Shprygin, the head of a Russian supporters' group, said on Tuesday, saying French riot police had stopped a bus carrying fans in Cannes who were on their way to Lille.</strong"They want to deport almost 50 people including women who did not take part in anything," Shprygin, president of the Russian Supporters Union, told Reuters by phone."The police are making up for their mistakes three days ago. We are in a bus in Cannes and we have been blocked in by riot police. We are not going anywhere for the time being."He later said the Russian consul had arrived on the scene, preventing what he said was a planned storming of the bus by the police.There was no immediate comment from French authorities, who have said about 150 hard-core Russian fans took part in serious violence after Saturday's clashes around the England-Russia game in Marseille at the Euro 2016 tournament.European soccer's governing body, UEFA, has threatened to expel the Russian and English teams from the championship if the violence persists.
 Plans to host a first day-night test in India later this year remain intact, the country�s cricket board (BCCI) secretary said on Tuesday, dismissing a local media report that prospective opponents New Zealand had rejected the idea.</strongIn April, the BCCI decided that one match of a three-test series against New Zealand would be a day-night affair, pending trials of the pink-ball in a domestic tournament, with Kolkata�s Eden Gardens a popular choice for the contest.A local media report claimed New Zealand Cricket (NZC) were wary of the dew factor and ground conditions in India during the series scheduled to start in September and had conveyed their reluctance to BCCI officials.BCCI secretary Ajay Shirke, in a text message to Reuters, said the plan remained very much on.An NZC spokesman confirmed New Zealand, who played the first pink-ball test against Australia in November, were committed to a day-night test in India."NZC has taken the precaution of contacting the BCCI to advise statements in the article regarding a day-night test are in no way representative of our position, and that no such comments have been made by our Board," the spokesperson told www.stuff.co.nz."The only comment NZC has made on the matter is that it�s supportive of the concept...and that stance hasn�t changed.
strong>Mexico's Jesus Manuel Corona weaved his way past five players before firing home in the 80th minute to give his side a 1-1 draw with Venezuela that secured top spot in Group C of the Copa America on Monday.</strongBy topping the group Mexico are likely to avoid Argentina in the quarter-finals. Argentina require just a point in their final game against Bolivia to be sure of top spot in Group D.Mexico and Venezuela each finished with seven points from their three matches but 'El Tri' had a superior goal difference.Venezuela had seized the advantage in the 10th minute when Jose Manuel Velazquez silenced the pro-Mexico crown in Houston with a sensational overhead kick.Venezuela�s Josef Martinez came close to scoring with a bicycle kick but Mexico goalkeeper Jose de Jesus Corona saved well. Venezuela keeper Daniel Hernandez also produced a string of saves before conceding his first goal of the tournament.In the group's other match, Uruguay finished thetournament on a high with a 3-0 victory over Jamaica in Santa Clara, California.With both teams already eliminated after losing their opening two games, Uruguay went ahead through Abel Hernandez in the 21st minute, doubled their lead on an own goal in the 66th minute before Mathias Corujo made it 3-0.Jamaica ended the tournament without picking up a point or scoring a goal.
 Spin bowling great Anil Kumble is among the biggest names to have applied for the high-profile job as India head coach, according to media reports.</strongThe Board of Control for Cricket in India (BCCI) said Sunday that it had received 57 applications for the post but did not reveal any names.Former team director Ravi Shastri, current chief selector Sandeep Patil and ex-pace bowler Venkatesh Prasad were among a few top former players who made their coaching intentions public.But on Monday Kumble, who has mentored Indian Premier League sides such as Mumbai Indians and Royal Challengers Bangalore, was reported to have also thrown his hat in the ring."Yes, I have applied," the former India skipper was quoted as saying by The Indian Express newspaper.The 45-year-old bagged 619 Test wickets in 132 matches and is only the second bowler in cricket history after England�s Jim Laker to have taken all 10 in a Test innings.Kumble has previously served as the president of his state association in Karnataka and headed BCCI�s technical committee. He is currently the chairman of the ICC cricket committee.However Kumble does not fit the BCCI criteria of having "coached a cricket team of any of the member countries of the ICC (International Cricket Council), at the first class or at the International level".Overseas coaches such as Australia�s Stuart Law and Dav Whatmore, who was recently sacked by Zimbabwe, are also being floated by India�s media as possible applicants.The list will now be pruned by board secretary Ajay Shirke and the appointment of the new coach is expected to be made before India�s tour to the West Indies in July.
c said he was looking forward to the challenge of facing Pakistan following his side�s commanding Test series win over Sri Lanka.Rain meant only 12.2 overs were possible at Lord�s on Monday as the third Test ended in a draw.But although denied a whitewash, England had already done enough to secure a 2-0 series win after dominant victories by an innings and 88 runs and nine wickets over the Lankans at Leeds and Chester-le-Street respectively.England now hold Test series trophies against every other major international side except Pakistan, who beat Cook�s men 2-1 in a three-match series in the United Arab Emirates in November last year.However, they will have a chance to put that right when they face Pakistan in a four-Test series starting at Lord�s on July 14."They�ve got a very good (pace) attack, backed up with spinners," Cook said of Pakistan. "We�re ready for them. We scored a lot of runs against Australia�s attack here last year -- I think it�s going to be a brilliant series."While Test specialist Cook prepares for Pakistan, wicket-keeper Jonny Bairstow will be looking to take his red-ball form into the intervening five one-day internationals against Sri Lanka.Bairstow�s recall into England�s one-day squad was announced just as he was being confirmed as both man-of-the-match at Lord�s and the hosts� overall man of the Test series too.His 167 not out in the first innings at Lord�s was his Test-best score and came amidst a series scoring-spree that saw Bairstow total 387 runs at an average of 129, with the Yorkshireman also holding 19 catches behind the stumps.Together with James Anderson, who took 21 wickets at a stunningly low average of 10.80, Bairstow was the central figure of the series.Bairstow repeatedly helped England recover from top-order collapses against Sri Lanka and Cook likened his contribution to that of retired former England wicket-keeper Matt Prior.Prior�s wicket-keeping came under intense scrutiny early in his career, especially as England -- be it Alan Knott, Bob Taylor or Jack Russell -- have long prided themselves on their glovemen.Bairstow, himself the son of the late former Yorkshire and England wicket-keeper David Bairstow, also found his work in the field being called into question after he floored a couple of seemingly straightforward chances against Sri Lanka.Bairstow, meanwhile, was pleased at maintaining the form he showed in South Africa, where his 150 not out in Cape Town in January gave him a maiden Test century.For Sri Lanka captain Angelo Mathews, the hope is his side, having had time to adjust to English conditions, will raise their game in the white-ball formats.<br/> However, the all-rounder accepted England were a much improved one-day team from the side that Sri Lanka thrashed by nine wickets at last year�s World Cup in Wellington.�
 England included the uncapped trio of batsman Dawid Malan and bowlers Tymal Mills and Liam Dawson in a 13-man squad for their upcoming Twenty20 international against Sri Lanka.Malan, born in London but brought up in South Africa, gets his chance after impressing for England�s second-string Lions team.Fast bowler Mills now only plays limited overs cricket because of a back condition, while Hampshire left-arm spinner Dawson is also a useful batsman.England will be looking to build on the form that saw them finish runners-up to the West Indies in this year�s World Twenty20 in India.None of the uncapped trio, however, were included in England�s 14-man squad for the five one-days internationals against Sri Lanka that will take place before the lone Twenty20 international.But Jonny Bairstow, fresh from being named man-of-the-match in the drawn third Test against Sri Lanka, was back in the one-day squad.Bairstow, also England�s man of the series in a 2-0 campaign win over Sri Lanka, was one of three glovemen in the one-day squad along with regular white-ball keeper Jos Buttler and Kent�s Sam Billings.Middlesex batsman Eoin Morgan retained the captaincy of both the ODI and T20 squads, with Test skipper Alastair Cook not having played limited overs cricket for England since before last year�s World Cup in Australia and New Zealand.Meanwhile Test new-ball duo James Anderson and Stuart Broad were again spared white-ball duty ahead of England�s four-match series in the five-day format at home to Pakistan starting next month.England ODI squad: Eoin Morgan (Middlesex, capt), Moeen Ali (Worcestershire), Jonny Bairstow (Yorkshire, wkt), Jos Buttler (Lancashire, wkt), Steven Finn (Middlesex), Chris Jordan (Sussex), Alex Hales Hales (Nottinghamshire), Liam Plunkett (Yorkshire), Adil Rashid (Yorkshire), Joe Root (Yorkshire), Jason Roy (Surrey), James Vince (Hampshire), David Willey (Yorkshire), Chris Woakes (Warwickshire)<br/> <br/> <br/> England T20 squad: Eoin Morgan (Middlesex, captain), Jonny Bairstow (Yorkshire, wkt), Sam Billings (Kent, wkt), Jos Buttler (Lancashire, wkt), Liam Dawson (Hampshire), Chris Jordan (Sussex), Dawid Malan (Middlesex), Tymal Mills (Sussex), Liam Plunkett (Yorkshire), Adil Rashid (Yorkshire), Jason Roy (Surrey), James Vince (Hampshire), David Willey (Yorkshire)Fixtures<br/> Jun 21: 1st ODI, Trent Bridge, Jun 24: 2nd ODI, Edgbaston, Jun 26: 3rd ODI, Bristol, Jun 29: 4th ODI, The Oval, Jul 02: 5th ODI, Cardiff, Jul 05: T20I, Southampton�
 "I tried but I can do much better,"
 Marlon Samuels produced his best batting effort in One-Day International cricket against Australia to lead the West Indies to a six-wicket victory in the fifth match of the Tri-Nation series at Warner Park in St Kitts on Monday.Set a challenging target after Usman Khawaja�s 98 and supporting half-centuries from skipper Steve Smith (74) and George Bailey (55) lifted the visitors to 265 for seven batting first, the enigmatic Samuels stroked 92 to ensure that the target was reached with 20 deliveries to spare.The Jamaican right-hander made an important deposit on a significant overdraft against the World Cup-holders, his innings spanning 87 deliveries and decorated with eight fours and four sixes -- the last three of which came off consecutive balls from leg-spinner Adam Zampa over long-off.In keeping with his mercurial nature, he was run out off the very next delivery to have the West Indies at 240 for four in the 41st over. Two more wickets fell to Nathan Coulter-Nile with the score at 254 before Kieron Pollard and Carlos Brathwaite formalised victory in the 46th over.Denesh Ramdin also played a key role in the run-chase. He supported Samuels in a 73-run fourth-wicket stand and continued to play sensibly following the demise of his senior partner before being bowled by Coulter-Nile for 29.Victory pulled the West Indies within a point of leaders Australia in the three-team standings. West Indies next play South Africa on Wednesday at the same venue.Samuels had joined Darren Bravo at the crease following a rollicking opening stand of 74 in ten overs before all-rounder James Faulker removed Fletcher for 27 while Zampa trapped Charles in front for 48.Bravo and Samuels then steadied the West Indies chase, keeping them well on course in an 82-run third-wicket partnership that was broken when Zampa removed Bravo for 39 via at bat-pad catch that lobbed comfortably to wicketkeeper Matthew Wade.Earlier, Khawaja�s promotion to open the batting in the absence of the injured David Warner paid immediate dividends.He lost Aaron Finch in the very first over to West Indies captain Jason Holder but then featured in a 170-run second-wicket partnership with Smith, who overcame the nagging discomfort of a right leg injury to help put his team in a commanding position by the time he departed in the 35th over, the victim of a clever change of pace from all-rounder Carlos Brathwaite.Khawaja was on the verge of a maiden ODI hundred but, becalmed in the nineties, he took on the challenge of a third run for his third-wicket partner, Bailey, and was found short of his ground by Jerome Taylor�s return from the boundary to stand-in wicketkeeper Fletcher. His innings occupied 123 deliveries and was embellished by three sixes and four fours.Fletcher�s position behind the stumps was the result of an injury to Ramdin who fell heavily on his right shoulder when attempting to effect a run out a few overs earlier. He returned for the final overs, taking two catches to dismiss Travis Head and Bailey off Pollard.Head earned his selection after Warner was ruled out of the rest of the tournament with a broken finger sustained against South Africa on Saturday. 
 Rain ensured England and Sri Lanka drew the third Test at Lord�s on Monday, a result that saw England win the three-match series 2-0.Sri Lanka set 362 to win, finished on 78 for one after rain, which had prevented any play before lunch on the final day, finally saw the umpires abandon the match as a draw at 5:12 pm local time (1612 GMT).Dimuth Karunaratne was 37 not out and Kusal Mendis 17 not out.Monday�s result left Sri Lanka still searching for their first Test win at Lord�s, having now drawn six and lost two of their longest-format clashes at the �home of cricket�.Only 22 balls were possible between lunch and tea after rain washed out Monday�s first session, but that was long enough for Sri Lanka to lose opener Kaushal Silva.Sri Lanka resumed Monday on 32 without loss. Karunaratne was 19 not out and Silva unbeaten on 12.Monday�s first over saw Silva edge Broad just short of England captain Alastair Cook at first slip. But Anderson, England�s all-time leading Test-wicket taker, struck when Silva, padding up after failing to pick an inswinger going against the Lord�s slipe, was lbw for 16.Silva reviewed but to no avail, with Sri Lanka 45 for one. No sooner had Silva been dismissed than the umpires took the players off the field after just 18 minutes� play. But the weather relented for play to resume after tea. Even though the floodlights were on, there was now a risk the match might be halted for bad light.Bairstow�s Test-best 167 not out and 85 from Cook were the major contributions to England�s first innings 416. Sri Lanka could only manage 288 in reply, despite fifties from Karunaratne and Silva.England�s second innings 233 for seven declared saw Alex Hales again fall short of a maiden Test century with 94 -- his third fifty of a series where the opener had twice been dismissed in the 80s.Sri Lanka continue their tour with two one-day internationals against Ireland in Dublin on Thursday and Saturday. They then face England in the first at Nottingham�s Trent Bridge in the first of five one-dayers on June 21.Monday�s draw meant England lead the inaugural Super Series against Sri Lanka by 10 points to two. But with two points on offer for a win in each of the six white-ball fixtures -- five ODIs and a lone Twenty20 -- Sri Lanka can still win the multi-format Super Series.
 Italy�s Emanuele Giaccherini and Graziano Pelle scored delightful goals to earn the former European champions a 2-0 win over the world�s second-ranked side Belgium in the first heavyweight clash of Euro 2016 on Monday.</strongGiaccherini latched on to an exquisite through ball from Leonardo Bonucci just after the half-hour mark, controlling the ball with his left foot and slotting home with his right to earn the four-times world champions a deserved win in Group E.In a contest with an authentic big-match feel and quality, Antonio Conte�s side spurned chances to increase the lead with Pelle heading wide and forcing a spectacular save by Thibaut Courtois before sealing the win with a volley in stoppage time.Belgium, seeking a first competitive victory over Italy in 34 years, belatedly came to grips with the contest as Romelu Lukaku and his replacement Divock Origi came close but the Italians go top after Sweden�s 1-1 draw with Ireland in Paris.
 Barcelona on Monday accepted to pay a 5.5-million-euro ($6.2 million) fine over Neymar�s contested 2013 transfer in a deal with prosecutors that sees the club avoid trial on tax evasion charges.</strong"It was better to accept this pact than continue on with the uncertainty that has dragged on for a long time over the Neymar case," Barcelona president Josep Maria Bartomeu told reporters, in reference to the transfer deal that authorities believe was undervalued, allowing the club to pay lower taxes in Spain.
 flood the public space with police so that there is no room for any form of hooliganism," Sports Minister Patrick Kanner said.In Moscow, Russia's Foreign Ministry said it had summoned French ambassador Jean-Maurice Ripert on Wednesday.The French envoy was notified about "discrimination" towards Russian citizens, it said, adding that "further fanning of anti-Russian sentiments" could damage relations between France and Russia.strong>"RUINING THE PARTY"</strongThe French embassy in Moscow said on its website the ambassador replied that arrests had been carried out "absolutely according to the law, in full transparency vis-a-vis the Russian authorities"."Fans from a number of countries took part in unacceptable violence in Marseille," the ambassador said during the meeting."The French government remained determined, together with UEFA, to stop troublemakers from ruining the party that is the Euro."Both Russia and England have been threatened with expulsion from the competition after hundreds of fans clashed for three days in Marseille on the weekend, drawing volleys of tear gas from riot police."We cannot close our eyes to the absolutely provocative actions by supporters from other countries," Russian Foreign Minister Lavrov told parliament."You have probably seen the outrageous images on TV when the Russian flag is getting stamped on and when insults are being screamed about the Russian leadership and about leading Russian sports people."President Vladimir Putin and security officials have discussed what lessons Russia can learn from the Euro 2016 for the 2018 World Cup in Russia, the RIA news agency quoted the Kremlin as saying.France is desperate to avoid a repeat of the violence that marred the England-Russia match in Marseille on Saturday. Dozens of Russian and English fans were arrested.strong>JOY IN ICELAND</strongRussian Sports Minister Vitaly Mutko said he did "not have any certainty that disorder involving Russian fans will not be repeated," and blamed England fans for provoking the trouble.Mutko called UEFA's decision to fine his side and give it an official warning over violence inside the stadium in Marseille "excessive".The tension has now moved north to Lille. Although Russia and England will not meet again in the group stage, they were to play their next matches just a few miles apart. England and Wales clash in nearby Lens on Thursday.Unlike in Marseille, where fans were able to drink for hours on end, they struggled to do so in Lille due to a blanket liquor ban imposed until Friday, closing bars and cafes and stopping shops and petrol stations selling alcohol."It's a party, and our job is to make a good party. But if you have violence, we are ready to fight against this violence," local police chief Olivier Dimpre told Reuters outside Flandres train station, where about a dozen riot police vans were parked.In Reykjavik, the mood was brighter. Icelanders draped in blue and red celebrated their tiny country's 1-1 draw against Portugal on Tuesday in the tournament. Some invoking the Norse god Thor, they spilled into the streets to chant "Afram (Go) Iceland!"
 "It was lovely to hear that."Iceland take on Hungary in their next Group F game on Saturday, before ending their group stage campaign against Austria on June 22.
 India, powered by seamer Jasprit Bumrah�s 4-22, crushed Zimbabwe by 10 wickets for a one-day international series whitewash at Harare Sports Club on Wednesday.</strongZimbabwe made five changes for the third and final ODI, but it made no difference as they were bowled out for 123.India required less than 22 overs to chase a target of 124, as KL Rahul made an unbeaten 63 and Faiz Fazal marked his international debut with 55 not out.The two teams begin a three-match Twenty20 international series at the same venue on Saturday.
 Zimbabwe won the toss and chose to bat on Wednesday after ringing the changes for the third and final ODI against India, following two heavy defeats.The hosts lost the first two games to a second-string Indian by nine and eight wickets respectively, and elected to use the dead rubber to give opportunities to other players.India made one change to their side, with 30-year-old opening batsman Faiz Fazal making his international debut as he replaced Karun Nair.Zimbabwe picked three new seamers in the form of Neville Madziva, Tawanda Mupariwa and Donald Tiripano, while batsmen Malcolm Waller and Timycen Maruma also got the nod.Sean Williams, Peter Moor, Sikandar Raza Butt, Tendai Chatara and Taurai Muzarabani all dropped out of the Zimbabwe team.Captain Graeme Cremer flew in the face of perceived wisdom by choosing to bat at Harare Sports Club, where just two sides in the last 23 have batted first, and both of them lost.TeamsZimbabwe: Chamu Chibhabha, Hamilton Masakadza, Vusi Sibanda, Timycen Maruma, Malcolm Waller, Elton Chigumbura, Richmond Mutumbami (wk), Graeme Cremer (capt), Neville Madziva, Tawanda Mupariwa, Donald TiripanoIndia: KL Rahul, Faiz Fazal, Manish Pandey, Ambati Rayudu, Kedar Jadhav, Mahendra Singh Dhoni (captain &amp; wk), Axar Patel, Dhawal Kulkarni, Jasprit Bumrah, Barinder Sran, Yuzvendra Chahal
 Adam Szalai and Zoltan Stieber scored second-half goals as Hungary stunned highly-fancied Austria 2-0 in their Group F opener in Bordeaux on Tuesday (Jun 14).Austria, tipped as tournament dark horses, dominated the opening period but Szalai fired Hungary ahead on 62 minutes with Stieber wrapping up a shock victory over their old rivals late on in the 138th meeting between the sides.Aleksandar Dragovic was sent off for Austria shortly after Szalai ended an 18-month goal drought as Hungary made a triumphant return to a major tournament having last featured at the 1986 World Cup.Hungary goalkeeper Gabor Kiraly kept a clean sheet as he became the first 40-year-old to feature at the European Championship, surpassing Germany's Lothar Matthaus as the oldest player in tournament history.Austria captain Christian Fuchs and winger Martin Harnik were the only two survivors from the country's debut campaign eight years ago named in Marcel Koller's starting line-up.However, they were inches away from the perfect start when Bayern Munich star David Alaba went agonisingly close to justifying his billing as one of the potential stars of the tournament when his dipping left-footed strike from outside the area crashed against the post.The versatile Alaba, operating in his customary central midfield with Austria, soon fired another warning to Hungary with a first-time strike at Kiraly after a threaded pass through from Marko Arnautovic.Szalai miscued a header from a Balazs Dzsudzsak free-kick in a rare opening for Hungary, while Kiraly showed his reflexes remain sharp despite his advancing years to claw behind a low strike from Zlatko Junuzovic.Arnautovic then slid a dangerous low ball across the face of goal as Austria continued to threaten, but Harnik lost his footing as he tried to slide home at the far post.Hungary captain Dzsudzsak wasted arguably the best chance of the opening 45 minutes, though, as he screwed his shot wide of goal after he was picked out by Laszlo Kleinheisler on the right-hand side of the penalty area.Dzsudzsak again took aim 10 minutes into the second period, his stinging 30-yard shot forcing Austria keeper Robert Almer to fist the punch behind for a corner.And Hungary grabbed a surprise lead just beyond the hour when Kleinheisler slipped in Szalai, who was played onside by Fuchs, with the powerful striker poking the ball underneath Almer for his first goal at any level since December 2014.Austria appeared to have levelled when Martin Hinteregger rifled in from the edge of the area, but referee Clement Turpin disallowed the goal for a foul on Tamas Kadar with Dragovic dismissed for a second booking.And Stieber triggered delirious celebrations when he raced from just inside the Austria half to beat Almer three minutes from time with a sublime chip as Hungary completed a stunning upset for their first European Championship win since 1964.��
 Argentina maintained their 100 percent record at the Copa America Centenario on Tuesday with a 3-0 victory over hapless Bolivia.The tournament favorites, already assured of a quarter-final berth after wins over Chile and Panama, wrapped up their Group D campaign with an easy win at Seattle�s CenturyLink Field.The victory sees Argentina reach the last eight as group winners, handing them what in theory should be a straightforward assignment against Venezuela in Foxborough on Saturday.The two-time world champions are determined to end a 23-year wait for a major title after suffering agonizing defeats in the finals of the 2014 World Cup and last year�s Copa America.On current form few would bet against the South American giants, who could afford to omit Lionel Messi from their starting line-up following his hat-trick display against Panama.The match was effectively settled within the first quarter of an hour, with Tottenham Hotspur winger Erik Lamela opening the scoring with a deflected free-kick in the 13th minute.Two minutes later China-based forward Ezequiel Lavezzi marked his comeback from injury with a goal, volleying home from close range after Gonzalo Higuain�s downward header.Central defender Victor Cuesta made it 3-0 just after the half-hour, diverting home Lavezzi�s low cross in the 32nd minute.Argentina manager Gerardo Martino brought on Messi at half-time, and a one-sided second half soon became a question of when or if the Barcelona superstar could grab a 54th international goal to equal Gabriel Batistuta�s longstanding scoring record.However despite Argentina�s dominance, Messi was unable to add to his team�s tally, his best chance coming with a 25-yard curling freekick which flew just wide of the goal.
strong>Chile advanced to the quarter-finals of the Copa America on Tuesday after two goals in the first half from Eduardo Vargas and two in the second from Alexis Sanchez gave them a 4-2 win over Panama in Philadelphia.</strongThe defending champions will play Mexico in the next round on Saturday, barring a heavy defeat for Argentina against bottom side Bolivia in the other Group D game. Argentina, who lead 3-0 in that game, would play Venezuela as group winners."This was important for me and for the team," said Vargas. "It has boosted our confidence for the games to come."We are Copa America champions but we haven't played as well as we did in the last Copa America and this will give us confidence."Chile went behind to an early goal but roared back thanks to outstanding performances from their front pair, who ran the Panamanian defence ragged.Panama took the lead in the fourth minute thanks to a mistake by Chilean goalkeeper Claudio Bravo, who let Miguel Camargo's shot from almost 30 yards out squirm through his hands and into the net.Chile fought back and were soon 2-1 up.Artur Vidal and Sanchez worked a one-two in the box after 14 minutes and Sanchez's shot was only parried by Jaime Penedo and Vargas followed up to smash it home.Three minutes before half time striker Vargas rose to glance home a header to put Chile ahead.Sanchez was in captivating form and scored one of the goals of the tournament after 49 minutes.Vargas was the provider this time, creating space for himself in the box before chipping to Sanchez, who volleyed home in spectacular fashion.Panama kept fighting and pulled one back after 74 minutes and again Bravo was at fault, failing to stop Abdiel Arroyo's header from going in at his near post.Sanchez had the last word, however, when he rose unmarked to head home a cross with two minutes left to make it 4-2.
 Rank outsiders Iceland fought back to salvage a memorable 1-1 draw with Portugal as they made their major tournament debut at Euro 2016 on Tuesday.</strongBirkir Bjarnason took advantage of slack defending by the Group F favourites to sweep the ball home for Iceland from six metres in the 50th minute.Nani had given Portugal the lead by turning in an Andre Gomes pass following an incisive move down the right in the 31st minute.Portugal dominated the game as expected but Iceland, backed by a noisy army of blue-clad fans, battled to the end to make it an unhappy evening for Cristiano Ronaldo as he made a record-equalling 127th appearance for his country.
strong>Five times grand slam champion Maria Sharapova is seeking to have her two-year doping ban wiped out or reduced as she lodged an appeal with the Court of Arbitration for Sport (CAS) on Tuesday.</strongThe 29-year-old Russian was banned by the International Tennis Federation (ITF) earlier this month following a positive test for the banned drug meldonium during January's Australian Open."In her appeal to the CAS, Ms Sharapova seeks the annulment of the Tribunal�s decision to sanction her with a two-year period of ineligibility further to an anti-doping rule violation," sport's highest tribunal said in a statement."Ms Sharapova submits that the period of ineligibility should be eliminated, or in the alternative, reduced."The statement added that her case had been expedited and a ruling would be made by July 18 at the latest, which means Sharapova still harbours hopes of competing at the Rio Olympics in August provided her ban is reduced to time already served.The former world number one was named in Russia's official entry list for the Olympics tennis tournament.Sharapova had called the ITF's ruling "unfairly harsh" as an independent tribunal had found that she had not intentionally violated anti-doping rules.Meldonium was added to WADA's list of banned substances at the start of the year after mounting evidence that it boosted blood flow and enhanced athletic performance.About 180 athletes have tested positive for the drug, manufactured in Latvia and common throughout eastern Europe, since January.Sharapova stunned the sporting world in March when she announced that she had tested positive for meldonium, a component of a product named Mildronate which she has taken since 2006 for health issues.
 British Prime Minister David Cameron on Thursday sent best wishes for Pakistan men and women cricket teams� forthcoming tour to England and hoped that �one day in the not too distant future I will be able to wish the England cricket team a successful tour of Pakistan� also.</strongThe message of the British premier was read out at an Iftar dinner for Pakistan men�s cricket team and the Pakistan Cricket Board (PCB) hosted by the British High Commissioner here at the newly built British Council Library.High Commissioner Thomas Drew CMG also faced a delivery from Pakistan spinner Yasir Shah on the occasion with wicketkeeper Sarfraz Ahmed behind the wickets and Test captain Misbah-ul-Haq in the slips.The Iftar dinner was hosted on the eve of the team�s departure for the United Kingdom. The Pakistan cricket team is set to challenge England in a packed tour of four Tests, five One-Day Internationals and one T20 International match in July and August.The women�s team, which has already arrived in England, will play three One-Day Internationals and three T20 International matches.The High Commissioner passed on a message from the British Prime Minister Cameron written especially for the dinner.�A UK tour by Pakistan�s cricket teams is always an exciting prospect and I am sure we can expect some exceptional cricket this summer. But this trip also provides an opportunity to pause to reflect on, and celebrate, the wider historical, cultural and community links that exist between our two great cricketing nations,� Cameron said in the message.�As you break your fast together on the eve of your departure to the UK, please accept my very best wishes for the Holy month of Ramadan. I hope that both the men and women�s teams have a fantastic stay in Britain. And I hope that one day in the not too distant future I will be able to wish the England cricket team a successful tour of Pakistan.�The British High Commissioner was joined by prominent figures from the worlds of sport, culture, media, business, government and civil society to wish the �Boys and Girls in Green� well.Joined by the PCB�s Chairman Shahryar Khan and Chairman Executive Committee Najam Sethi, Thomas Drew extended his best wishes to both England and Pakistan.�I am delighted to be hosting this Iftar dinner for the Pakistan Cricket Team on the eve of your departure for the United Kingdom to play England,� he said.�This is a significant event for me � not just because I like a good game of cricket. It is also because of the power of sport to achieve all the things that I, as a diplomat, try to do to bring our two countries together. Our respective cricket teams � Men and Women�s � have ambassadorial powers that I can only dream of.�Sport is particularly powerful in reaching out to the young, who represent the future of our two countries � and are the focus of so much of the UK�s work here. Indeed, alongside our education work, this magnificent British Council library, which I opened only two weeks ago is another important example of that.��I haven�t forgotten who pays my salary, fond though I am of Pakistan, so I won�t pretend that I will be supporting anyone other than the home team. But my biggest hope is for a great summer of sport, where the cricket does the talking. And I wish Pakistan�s teams a fabulous stay in Britain.�
 Guinness Book of World Records has accepted the record of Pakistani Taekwondo black belt Ahmad Amin Bodla for most knuckle pushups wearing 40 lb weight in one minute.</strongBodla said the record for most knuckle pushups wearing 40 lb weight on back has been approved by Guinness World Records with 24 reps whereas the minimum requirement to set record was 15 reps.Bodla said to improve his record he will practice a few days and get over 50 reps.�I aim to break 20 more Guinness Records this year. I am very grateful to my family teachers and friends for their immense support,� he said.It may be mentioned that this is the seventh time Bodla has made it to Guinness.The 23 year old has been breaking world records for the last five years.Bodla also holds the record for most martial arts kicks in one minute (355 kicks) and the record for most martial arts kicks in three minutes (801).Bodla has the record for most martial arts kicks in one hour (6970) and most full contact knee strikes in one minute (79).
 Day-night test is the future of cricket's longest format but the boards should not rush it, according to New Zealand pace great Richard Hadlee.</strongAustralia played the first day-night test against New Zealand at Adelaide Oval last November and have agreed another flood-lit match with South Africa at the same venue during the home summer.The concept has found ready takers in south Asia with India trialling pink-balls and Pakistan agreeing to play a floodlit test in Brisbane in December."You try; it is the game of the future. Probably one test in a series is fair enough," Hadlee told reporters in Mumbai."I think most people like to see the traditional format during the day."The durability of the pink kookaburra ball and the dew factor in India have raised doubts about the future of a floodlit test in the country.Hadlee said the players must get ample practice before such a contest."It is important for the players to have practice games; you cannot ask them to go out there and ask them to play a day-night game against the pink ball."It is unrealistic in professional environment era. That needs to be tried and tested, so players can get some confidence.""Conditions are different all around the world, so we don't really know how the pink ball is going to work here in India and that's why players need to have those practice games," he added.
 A panel including former captains Sachin Tendulkar and Sourav Ganguly will select India�s next head coach from a shortlist of 21 candidates by June 22, the country�s cricket board (BCCI) has said.</strongThe BCCI received 57 applications and despite recommending a smaller pool of nominees, all of the petitions will still be available to a panel which also includes former test batsman VVS Laxman, board secretary Ajay Shirke said in a statement.The post has been vacant since Ravi Shastri�s tenure as the team director ended with India�s semi-final exit at the World Twenty20 tournament on home soil earlier this year.Shastri has thrown his hat in the ring once more, while former captain Anil Kumble and chief selector Sandeep Patil have also confirmed they were keen to take on one of the most challenging jobs in international cricket.
 Antoine Griezmann struck late on before Dimitri Payet added a second in injury time as hosts France secured their ticket to the last 16 of Euro 2016 with a 2-0 win over Albania on Wednesday.</strongFrance began their bid for a first European Championship title in 16 years with a nervous 2-1 win over Romania last Friday.But despite creating a host of scoring chances against the Balkan minnows in a stirring second half, it took Atletico Madrid striker Griezmann to rescue a pale version of Les Bleus with a 90th-minute header at the Stade Velodrome.Coach Didier Deschamps replaced under-performing midfielder Paul Pogba with Anthony Martial while Kingsley Coman replaced Griezmann for France�s first game at the Stade Velodrome since their triumphant World Cup campaign in 1998.It meant a change from a 4-3-3 to a 4-2-3-1, with Arsenal striker Olivier Giroud playing solo up front.But after a frustrating first half of few real chances for the hosts, Deschamps was quickly reconsidering his options.Albania, missing captain and ex-Marseille player Lorik Cana through suspension following his sending-off in the tournament debutants� 1-0 defeat to Switzerland, deployed a defence-minded 4-5-1 that made their conservative tactics clear.And France, despite showing plenty of promise throughout, struggled to come up with the antidote.Payet, who hit a stunning winner for France last Friday, showed promise with a great delivery for Giroud but the striker�s header was a yard over.Albania midfielder Ermir Lenjani�s then sent a drive just wide but the Balkan minnows would threaten again.France�s offside trap was non-existent when Napoli defender Elseid Hysaj broke free on the right to collect a long ball and deliver a cross that deflected off Martial as Armando Sadiku ran in towards goal.It was a brief scare, and France responded with a string of mistakes that left Deschamps holding his head in his hands before the half hour.As widely expected, Pogba replaced Martial for the start of the second half, inspiring the hosts to a far improved performance.Seconds after kick off a great delivery from Giroud was helped on by Blaise Matuidi, but Coman�s header from six yards out bounced just wide.But France were given another scare when Bacary Sagna missed a dangerous delivery that came off the post, bounced off the head of Ledian Memushaj and went out for a goal kick.This time, the scare was big enough to prompt a rousing French response.Moments later, Payet met Giroud�s nice lay-off to hit an inviting delivery with the outside of his right boot towards the back post where Pogba rushed in only to fire inches over.When N�Golo Kante made a timely interception to help set up Coman on the left, Giroud timed his jump to perfection but his header glanced wide on 67 minutes.Coman was replaced by Griezmann soon after, and moments later Giroud rose to meet Patrice Evra�s delicately chipped delivery to fire his header off the post.Deschamps replaced Giroud with former Marseille favourite Andre-Pierre Gignac with 13 minutes remaining, but as the hosts maintained their push for the opener it was Griezmann who broke the deadlock when he rose to meet Adil Rami�s cross to beat Lazio �keeper Etrit Berisha.It broke Albania�s resolve and five minutes later Payet claimed his second of the competition with a fine curling strike that beat Berisha at his far post.
 Pakistan pacer Mohammad Amir has been warned by the Pakistan Cricket Board (PCB) to expect taunts from English crowds when he returns to England for Pakistan�s Test and one-day tour, British media reported on Wednesday.</strongAmir is due to arrive in England this week with the Pakistan squad who will be based in Southampton for a training camp before their first warm up game against Somerset at Taunton on July 3.Officials from the PCB have told Amir to expect a hostile reception from home supporters and barracking over his involvement in the 2010 spot fixing scandal.He has not played Test cricket since then but is set to return at Lord�s for the first Test scheduled for July 14.�During the meeting Amir was told in clear terms that he will have to follow each instruction given to him by the team management and anti-corruption and security manager in England and totally avoid the media unless permitted by the manager,� a PCB source told the Telegraph.Amir was told that he should be mentally prepared to be ready to face bad situations during the tour as no one could control crowds or bystanders and he will have to show patience and tolerance, he added.The Pakistan players have been told to provide the PCB with all details of friends, relatives and associates in England in order to avoid any potential controversies.
 Croatia blew a two-goal lead and could face UEFA sanctions after flares thrown from the crowd interrupted their Euro 2016 2-2 draw with the Czech Republic on Friday.</strongThe match was suspended for nearly five minutes with Croatia leading 2-1 when flares were thrown on from the end of the stadium housing Croatian supporters.When play resumed, Tomas Necid�s penalty four minutes into stoppage time handed the Czechs a point after Milan Skoda had pulled a goal back 14 minutes from time.
 In order to pay tribute to philanthropist Edhi�s services for humanity, the Pakistan Cricket Board has decided that its cricketers would don the logo of the Edhi Foundation on their jerseys during the upcoming tour of England and Ireland.</strongAccording to a PCB official, the team would be seen sporting the Edhi logo on their jerseys during the ODI and T20 leg of the tour.��This partnership honours the services of the great humanitarian Abdul Sattar Edhi, inarguably one of the world's most selfless philanthropists,� said a PCB spokesman.PCB officially announced the partnership with Edhi Foundation today ahead of the team�s departure to England. Chairman PCB Shahryar Khan said that having Edhi Foundation as partners is a matter of pride for the board.�We feel honoured to associate ourselves with the work of such a great human being. PCB is�cognizant�of�its responsibility to give back to the society and this is a continuation of our policy to support and promote such initiatives,� said Shahryar Khan.A donation of rupees one million was also presented to Edhi Foundation on behalf of PCB and PSL (Rs500,000 each), which was received by Saad Edhi, the grandson of philanthropist Abdul Sattar Edhi.Captains Misbah ul Haq, Azhar Ali, and Sarfaraz Ahmed presented the official Pakistan ODI and T20 jersey to Saad Edhi on behalf of the team.The team also donated a signed bat to be given away at an auction for the benefit of the foundation.�International Cricket Council (ICC) has also permitted PCB to use the Edhi logo on their jersey during the tour.Pakistan are scheduled to play four test matches, five ODI�s and a T20 match. The first test would begin from July 14.
 Pakistan cricket team manager Intikhab Alam Friday warned fast bowler Mohammad Amir cannot afford to put a foot wrong on the tour of England where he was caught in a spot-fixing case six years ago.</strongThe images of Amir�s shocking over-stepping of the crease to bowl no-balls during the Lord�s Test in 2010 will re-emerge as he is all set to take the field on July 14 in the first of a four-match series.Amir and his new-ball partner Mohammad Asif bowled deliberate no-balls on the order of then Test captain Salman Butt in return for money -- a sting operation by the now defunct British tabloid News of the World.All three players were banned for five years from playing cricket and jailed by a UK court. But since the ban was lifted in September last year, Amir has been in a superb wicket-taking form and will be the key bowler for Pakistan on the tour which also has five one-day and a Twenty20 international.Alam warned Amir will be under strict vigil. "Amir cannot afford to put a foot wrong," Alam told AFP as the team prepares to depart for England early Saturday."Amir has to prove a point to the cricketing world that there will be no slip-up, make up for the five years he lost and do justice to his talent by bringing laurels."Alam said he fears people will provoke him. "I fear people will provoke him on and off the field but he has been told to remain calm and do not react," said Alam. "That happened on his first tour (New Zealand) when he was fielding on the boundary line but they die down once you don�t react," said Alam.Fans shouted slogans and a stadium announcer played a sound effect of a cash register before the start of one of Amir�s overs during Pakistan�s tour of New Zealand in January this year -- his first international tour on return.Alam said Amir in particular and other players in general will have to follow a strict code of conduct on the tour."The message is clear for all the players and that is there will be no compromise on discipline and zero tolerance," said Alam, a former Pakistan captain."Amir will have to follow strict code of conduct which stops him from meeting people and focus on cricket," said Alam, who praised Amir�s conduct."Since his return, Amir has been very good and has shown remorse of what he did," said Alam. "People expect miracles from him but he has been very good on the three tours he has had so far and we hope he will deliver to the best of his abilities in England."Alam said Pakistan�s team was up for England�s challenge. "I have always had good memories of England and this time too I believe we will be challenging for our opponents," said Alam who led Pakistan on the 1971 and 74 tours of England.
 From Dubai to Tunis, Euro 2016 football fever is sweeping the Arab world, filling cafes and restaurants and overshadowing the nightly television soap operas that normally dominate Ramazan viewing.Every year, during the Muslim fasting month, television audiences soar as families gather in front of their sets after breaking the daytime fast.Usually the ratings are dominated by the dozens of rival soaps that are aired by state and private channels. But this year, Ramazan coincides with the Euros which are another massive draw.Cafes in the Egyptian capital have draped the flags of competing countries over their entrances to attract fans. Some games are played during the day, when devout Muslims are fasting, while others clash with the iftar meal which breaks the daily fast at sunset.In Tunisia, where most cafes are closed during daylight hours in Ramazan, the venue moves to people�s homes. Evening games begin a few minutes after Muslims break their fast, a time most Tunisians spend with their families watching television.Television viewing in the region peaks during Ramazan with ratings remaining high well into the night and advertisers devote large chunks of their budget to the small screen�s high season.With most games showing on foreign satellite channels, the main Tunisian channels have scheduled daily analysis programmes on the matches.Ramazan hasn�t stopped people following the contest on big screens in the Gulf.In Kuwait, whose national team was banned by FIFA in October from taking part in World Cup qualifying matches because of alleged government interference in sports, fans take consolation in the Euros.Germany, the reigning world champions, are the most supported team in Kuwait and in many other Arab countries, exceeding defending European champions.In Dubai, one restaurant has erected a huge tent on the beach with big screens to show the games.
 India will witness its first ever multi-day pink ball game at Kolkata�s Eden Gardens from Saturday, a possible precursor to a day-night Test later this year in the world�s richest cricket market.The four-day match is an inter-club final between Mohun Bagan and Bhowanipore Club which is being hosted by the Cricket Association of Bengal, headed by former India skipper Sourav Ganguly.The success of the experiment is expected to have a bearing on efforts by the Board of Control for Cricket in India (BCCI) to host a day-night pink ball Test against New Zealand in October."Time has come to market Test cricket in a better way (to bring back the fans)," Ganguly, who sat alongside former Australian batsman Dean Jones and India�s VVS Laxman at a promotional event on Thursday, was quoted as saying by the Indian Express website."Just think about Virat Kohli facing Jimmy Anderson in a pink ball Test -- the spectacle it will present. Let�s see the problem, address it and try to fix it with the technology we have."The Kolkata club match will be broadcast live in India with many prominent former Indian cricketers providing commentary.The BCCI also announced earlier this month that the domestic Duleep Trophy tournament in September will be played under lights with a pink ball for the first time.Australia and New Zealand played the inaugural day-night Test in Adelaide last year, attracting huge crowds in what was a boost to the struggling five-day format.
 The Pakistan cricket team will depart to England on Saturday for a lengthy series comprising four Tests, five ODIs and a Twenty20.</strongPakistani players will participate in a training camp this month as to get familiar with the English conditions before their first warm-up game against Somerset at Taunton on July 3.Misbah ul Haq will be leading the national test team in the Test series while Azhar Ali and Sarfraz Ahmed will captain the teams in ODIs and Twenty20, respectively.Talking to APP, a Pakistan Cricket Board (PCB) official said the board has barred the players to give interviews and have asked them to have limited interaction with the English media unless permitted by the manager.However, the players have been allowed to take their families on tour till the start of the series. �The players have been allowed to take their families on tour but will have to send them back before the start of the Test series,� he said.This will be the first assignment for new head coach Mickey Arthur, while it will see the return of Muhammad Amir in England after the infamous spot-fixing scandal in 2010.He said PCB has also cautioned Amir to be patient and tolerant on the tour of England.Amir, who has not played Test cricket since his involvement and ban in match fixing during Lord�s Test, would return to Test on July 14 on the same ground.�Amir is asked to follow each and every instruction in England given to him by the team management, anti corruption unit and security manager.The official said that Chief Selector Inzamamul Haq is also likely to tour England in the series to monitor players� performances closely.
strong>Brazil's failure to claim an Olympic soccer gold medal, the one major tournament they have never won, is all because Pele never played in the competition, the soccer great joked on Thursday.</strongPele made his comments after receiving an Olympic award in his home town of Santos, pointing out that although Brazil had won the World Cup five times and the Copa America on eight occasions, they never won Olympic gold because he was absent."I was joking with my friends saying that Brazil never won an award, because I never played," the 75-year-old three-time World Cup winner told reporters."I joke with my friends, because we really never had a title and this was a chance God gave to me in receiving this honour. Let's hope and think positively, that maybe we can take an Olympic title, and once again, for all those who have been part of my story."Pele was given the Olympic order, the highest award offered by the International Olympics Committee (IOC), by its president Thomas Bach.Bach is in Brazil to monitor preparations for South America's first Olympic Games that begin in Rio de Janeiro on August 5.
 Pakistan�s top Test batsman Younis Khan has brushed aside the threat posed by England�s in-form pace attack as his team prepare to return to the scene of an infamous spot-fixing scandal in 2010.</strongKhan said Pakistan�s familiarity with the likes of Stuart Broad and James Anderson would blunt their potency when they open a four-Test series at Lord�s on July 14.The �home of cricket� will provide a tough opening environment for Pakistan after the spot-fixing case of 2010, which ended with jail terms for young fast bowler Mohammad Amir and two other players.Amir, now 24, is back in Pakistan�s squad after completing a ban from cricket but Khan said his team-mates now wanted to put the past behind them and enjoy playing at the historic London ground."It is always a pleasure whenever you play in Lord�s," told AFP at a dinner organised by Britain�s High Commission in Lahore."The tradition and using that dressing room and that ground... in my mind it�s always a challenge and a pleasure for me so playing cricket in England is all about that."England�s fast bowlers combined to take 33 wickets between them in their recent 2-0 rout of a Sri Lankan side missing recent retirees such as Kumar Sangakkara and Mahela Jayawardene.Anderson�s 21 wickets came at a phenomenal 10.8 runs apiece, but Khan, the lynchpin of Pakistan�s batting for more than a decade, said his team would not roll over as easily."No doubt about Anderson and Broad -- they are the top bowlers these days. But we play regularly against Broad and Finn and Anderson," he said.strong>- Last hurrah? -</strongThe two teams last clashed in the UAE, where Pakistan plays its home games because of security concerns, in October-November 2015 with the South Asian side prevailing 2-0 in the three match series.They also played in the UAE in 2012, when Pakistan rolled over the English 3-0.Then, as now, Khan and fellow veteran Misbah-ul-Haq (age 42) are seen as key to holding up a batting order that has traditionally been troubled by quality swing bowling."If you go there and play according to your plans you�ll be successful in any conditions and against any bowler," he said.It is a strategy that has paid dividends for Khan in the past even in English conditions, with its pacey pitches that encourage movement in the air.In five previous Tests on English soil he has maintained an average of 52.22 -- one run shy of his overall career figure -- and managed one century along with three fifties.Now in the twilight of a career that has seen him amass 31 Test centuries -- tenth on the overall list and the highest number by any current player -- Khan remained coy on his future plans."Maybe it will be my final tour," he said, before quickly adding: "As a cricketer and as a top sportsman I feel very comfortable with my fitness and my form so God willing (if) I perform the way I perform for my country maybe I will play for four-five more years, maybe."Beyond Khan and Misbah, no Pakistani batsman has broken into the world�s top 10 for many years, but the ethnic Pashtun said he was confident about the younger players who are waiting in the wings."Asad Shafiq is there, Azhar Ali is there, then after them there are the youngsters are upcoming," he said."Whenever a top cricketer retires everyone thinks after him what should we do. But suddenly some of the players come and they play for their country and they play for themselves."So I think after us there will be guys who play better than us."
 Pakistan cricket captain Misbah-ul Haq hopes the upcoming test series in England will help spur the return of international cricket to the South Asian nation after a seven-year absence due to security fears.</strongPakistan has not staged test matches since a 2009 gun attack on Sri Lanka's team bus in Lahore killed six Pakistani policemen and a van driver. Some players and a local umpire were injured.Improved security in Pakistan in recent years has prompted calls for international teams to return but test playing nations have so far refused to tour a country where Islamist militants still pose a threat.Misbah told Reuters he hoped the four-test series in England "would help revive cricket series in Pakistan".Pakistan last played test matches in England in 2012 and the 42-year-old batsman said he expected an "exciting" tour after such a long gap."It is a big tour for Pakistan," Misbah said late on Thursday during a send-off dinner for the Pakistani team hosted by Britain's High Commissioner to Pakistan, Thomas Drew.Britain's Prime Minister David Cameron also sent a good luck message to Pakistan's team, saying: "I hope that one day in the not too distant future I will be able to wish the England cricket team a successful tour of Pakistan."Pakistan's formidable pace attack, spearheaded by left-armers Mohammad Amir and Wahab Riaz, will face a resurgent and youthful England team captained by Alastair Cook, who last month became the first England cricketer to reach 10,000 test runs."England cricket team is a strong and balanced one," Pakistan's experienced all-rounder Muhammad Hafeez said. "Pakistan team has plenty of talent. We will try to give a quality series to the spectators and cricket fans."Since 2009, Pakistan's national team has been hosting foreign teams in the United Arab Emirates. Pakistan defeated England in a three-test series in 2015, winning two matches and drawing the third.The coming test series will see the return of Amir to test cricket after serving a five-year ban following a spot-fixing scandal in England.It will also be the first test series for leg-spinner Yasir Shah since he served a three-month suspension for a doping violation.Shaharyar Khan, chairman of Pakistan's cricket board, said he was confident Misbah's squad would hold its own against England and urged them to show their worth."I would say, play hard, giving no quarter to England for under Alastair Cook they are too good an outfit to not make you regret it," he said.
strong>The United States survived a late onslaught to beat Ecuador 2-1 and advance to the semi-finals of the Copa America for the first time since 1995 after a pulsating and sometime fractious match in Seattle on Thursday.</strongClint Dempsey and Gyasi Zardes scored for the U.S. either side of half time and Michael Arroyo got one back for Ecuador in a game that saw one player from each side sent off and the Ecuador coach banished to the stands.Ecuador came into the game more after Antonio Valencia and Jermaine Jones were shown red cards in the 51st minute but the hosts prevailed to set up a semi-final against either Argentina or Venezuela in Houston next Tuesday."We've come so far now and now we get even hungrier for the next step," said U.S. coach Jurgen Klinsmann."The team performance was outstanding. They were helping each other all over the field."Dempsey, a striker who plays for local club Seattle Sounders, got the opener for the U.S. after 21 minutes when he rose to head home a deft cross from Jones.He almost got a second four minutes later but his angled-drive was well saved and Alejandro Bedoya should have done better when Dempsey's pass left him with a shot on goal that Alexander Dominguez got down well to smother.At the other end, Brad Guzan did well to turn an Enner Valencia shot round the post as he honed in on goal.Then came the dismissals with Antonio Valencia sent off for a second yellow after hacking down Bedoya and his fellow midfielder Jones harshly shown a straight red for raising his hand in the ensuing scuffle.Zardes doubled the home side's lead when he poked home from inches out after Dempsey had beaten the goalie but the goal roused Ecuador and they took control of the game.Enner Valencia should have scored at least twice from close range headers but it was Arroyo who cut the lead after 73 minutes when he found the net with a low drive from the edge of the box after the defence had given him too much space.The South Americans threw everything at the hosts in the final quarter but they could not find a second goal and the U.S. advanced to the last four.
 Forestry officials in western India have ordered an inquiry after cricketer Ravindra Jadeja posted several photos on social media of him and his wife posing with endangered Asiatic lions.</strongOfficials from Gujarat state�s Gir wildlife sanctuary ordered the probe late Thursday after photos showing the couple in front of a pride of lions during a safari earlier this week went viral on social media."The Gir National Park and Sanctuary is a protected area and people are not supposed to get down (from) their vehicle during safari," a chief forest conservator A.P. Singh told AFP."Since it is against the rule to get down (from) the vehicle in jungle, we have ordered a probe into the matter," he said, adding that the penalty would be determined after investigation.In one of the photos on Instagram, the left-arm spinner is seen smiling and pointing at a pride of big cats resting behind him with a caption "family photo, having good time in Sasan (Gir)".Another is a selfie of Jadeja and his wife as a lion looks on in the background.The photos were taken just days after the Gujarat forestry department advised tourists and locals against taking selfies with lions, following a spate of attacks in which villagers were killed or injured by the cats.Gir forest is a popular big cat safari destination and the only place where Asiatic lions remain in the wild.Asiatic lions, slightly smaller than their African cousins and with a fold of skin along their bellies, have been increasing in numbers in Gir, with 523 recorded in the latest census.The Asiatic lion was listed as endangered in 2008, up from being classified as critically endangered in 2000, after numbers improved in the forest.
 Clint Dempsey struck again as the United States powered through to the semi-finals of the Copa America Centenario on Thursday in a stormy 2-0 win over Ecuador that saw both sides finish with 10 men.Dempsey scored his third goal in as many games for Jurgen Klinsmann�s side at CenturyLink Field, pouncing on 22 minutes before setting up a second for Los Angeles Galaxy forward Gyasi Zardes in the 65th minute.Michael Arroyo pulled a goal back for Ecuador in the 74th minute to set up a frantic finale, but the US held on and will now face either Argentina or Venezuela in the semi-finals in Houston next week.But the victory came at a cost for Klinsmann�s side, as key midfielder Jermaine Jones was sent off early in the second half to earn a suspension which will see him miss the semi-final.France-based midfielder Alejandro Bedoya and Hamburg striker Bobby Wood also earned yellow cards that will see them suspended for the last four.For Ecuador, Manchester United�s Antonio Valencia was dismissed after picking up two yellow cards before triggering the melee which led to Jones� dismissal.Earlier, a cagey start had seen both sides begin tentatively before Jones and Michael Bradley steadily imposed themselves in midfield as the US started to gain the upper hand.Wood�s speed troubled the Ecuador defense on 17 minutes, when he darted onto a low pass only to prod his finish well wide of the advancing Alexander Dominguez. <br/> <br/> Yet five minutes later the US took the lead with a beautifully worked goal that began when Dempsey gathered in midfield and released Wood, who fed Jones near the edge of the area.The midfielder picked out Dempsey with a superb cross and the former Tottenham and Fulham stalwart duly headed home.Five minutes later Dempsey was threatening again, this time his shot well-saved by Dominguez.
strong>Beer-swilling English football fans bathed in public fountains on Thursday evening in the northern France town on Lille to celebrate their team's victory over Wales in nearby Lens, with little sign of the tensions seen there in previous nights.</strongPolice were braced for the kind of violence that threatened England and Russia with expulsion from the tournament and led to the use of tear gas on Wednesday to disperse rowdy English fans in Lille.But on Thursday, fans flooded back from Lens singing and playfully kicking a football around as they exited Lille's rail station. Occasional showers of rain also helped keep the atmosphere calmer.A Reuters photographer saw police detain one of a group of fans who were fighting in Lille. In general, though, police kept a low profile while monitoring what had in recent days been a meeting point, and an occasional flashpoint, for fans."It's OK. They're just in high spirits. As long as it stays that way, no problem," one police officer said.Thursday afternoon's Group B match between England and Wales in the Euro 2016 group has been dubbed "The Battle of Britain".After violence in the Mediterranean port of Marseille before and after England's 1-1 draw with Russia on Saturday, UEFA had warned England that a repetition of fans' violent behaviour could see the team expelled.UEFA has also told Russia that it would be disqualified if there was a repeat of its fans' violent behaviour, which included attacks on England supporters in the stadium as the match ended.Throughout Wednesday, 36 people were arrested for various offences as Russia lost to Slovakia in Lille and England prepared to play Wales, police said. That included 13 British nationals, police said.UEFA said on Thursday it regretted the previous night's violence, but it stopped short of action to punish the fans or the teams.strong>RESPECT</strongOn Thursday morning, police checked fans boarding trains from Lille to Lens to ensure none were travelling with alcohol, leading to long queues. A heavy police team carried out similar checks in pouring rain on arrival 45 minutes later in Lens.Martin Glenn, the chief executive of England's Football Association, had urged England fans to show "consideration and respect" as French police were already pre-occupied with preventing any militant attacks.France has suffered several attacks by Islamist militants in the past two years, including a shooting rampage in Paris in November that killed 130 people. Two French police officials were killed on Monday by a man claiming allegiance to Islamic State.Separately, police in Lyon in southeast France said two fans suffered stab wounds in a fan zone there on Wednesday.Lyon police said one of those wounded, a Frenchman, had told them one of his attackers wore an Albania football shirt. France beat Albania 2-0 in another of Wednesday's games.Marseille police said a further 20 Russian fans were to be expelled from France, including Alexander Shprygin, the head of a Russian supporters group.
 Poland held Germany to the first 0-0 draw of Euro 2016 on Thursday as the world champions struggled to break down dogged opponents who will be satisfied with a point.</strongThe result means both sides, who won their opening games, need a point in their final Group C matches against Ukraine and Northern Ireland respectively on Tuesday to guarantee reaching the last 16.Ukraine, who have yet to get a point, cannot progress and will finish bottom of the section.Germany were playing their first game at the Stade de France since the deadly November attacks in Paris.They came out zipping the ball around early on, poking and prodding at the Poles but, with focal point Mario Goetze consistently dropping off, they lacked conviction in the final third.The two neighbours, who last met at a European Championship in a feisty game in 2008, failed to conjure a shot on target in the first half in front of a packed and boisterous crowd.The only notable chances fell to Goetze, who drifted a header over the bar in the fourth minute, and Toni Kroos, with a toe-poke in the 15th minute that went wide.The Germans, eyeing a fourth European title, were clearly frustrated.Sami Khedira and Mesut Ozil were booked needlessly after fouls in the midfield in the first half before Jerome Boateng joined them in the referee�s notebook after 67 minutes.span style="font-size: 14pt;"><strong>FASTER TEMPO</strong></spanThe second period had to have a faster tempo and it proved to be the case.The Poles came out firing on all cylinders and almost took the lead just after the break.Kamil Grosicki�s cross found Arkadiusz Milik, who appeared to only have to guide the ball into the net, but he barely connected and it went agonisingly wide in front of the passionate Polish supporters.Seconds later Poland keeper Lukasz Fabianski held on to a Goetze shot in the box, the first on target in the game.Poland began to take the ascendancy and had the better chances with Milik shooting wide after striker Robert Lewandowski had tapped a free-kick to him after 57 minutes.The Bayern Munich forward then saw his club colleague Boateng block a shot destined for the goal.With the game finally opening up, Ozil�s shot was tipped over the bar spectacularly by Fabianski in the 68th.The midfielder then turned provider, putting in substitute Andre Schuerrle who shot straight at Fabianski.But, despite a string of half chances in the final 20 minutes, neither side looked like finding the breakthrough.
 Veteran Gareth McAuley and substitute Niall McGinn netted as Northern Ireland shocked Ukraine 2-0 at Euro 2016 on Thursday to keep alive their hopes of reaching the knockout phase.</strongA flying header from West Bromwich Albion defender McAuley and McGinn�s injury-time strike at a hailstone-battered Stade de Lyon gave Ireland their first win at a European Championship finals.Michael O�Neill�s side produced the perfect reaction to losing their Group C opener 1-0 to Poland, giving them everything to play for against world champions Germany in next Tuesday�s final group game."It�s special. It�ll sink in probably over the next few days," said McAuley."It was the team performance that was pleasing tonight, it was the reaction from getting beaten against Poland."We�ve got a tough game to look forward to now and we�ve got something to play for, that�s what we wanted."McAuley also wrote himself into the history books.At 36 years and 194 days, he is the second oldest goalscorer at a Euro finals, after Ivica Vastic, who was two years, 63 days older when he converted a penalty for Austria against Poland at Euro 2008.The victory is just desserts for O�Neill.The Northern Irish manager made five changes from his starting line-up after his side had failed to impose themselves on Poland, including dropping top scorer Kyle Lafferty.O�Neill preferred to start QPR�s Conor Washington as striker instead of Norwich City�s Lafferty who had netted seven goals in qualifying to help the Irish reach the finals.Ukraine coach Mykhailo Fomenko kept faith with the majority of the side which lost 2-0 to Germany last Sunday.span style="font-size: 12pt;"><strong>- Interrupted match -</strong></spanIt was an impressive display from Northern Ireland, who fought their way back into the game.They had struggled for first-half possession -- winning just 35 percent in the first 45 minutes.And the first clear chance for either side came with half an hour gone when Irish centre-back Craig Cathcart headed over.Mother Nature played her part as the heavens opened over Lyon for the start of the second-half.It did little to hinder McAuley�s diving header from looping over Ukraine goalkeeper Andriy Pyatov in a torrential downpour after a brilliant cross from Oliver Norwood on 49 minutes.It was McAuley�s eighth international goal and none will be toasted more back home.The greasy ball was nearly in the Irish net minutes later as their goalkeeper Michael McGovern blocked half-chances from Taras Stepanenko, then Yevhen Konoplyanka.Both teams struggled in the sodden conditions as a hailstorm then battered the pitch and on 58 minutes Czech referee Pavel Kralovec halted the game.The players were back out three minutes later and Ukraine fought for the equaliser as Viktor Kovalenko fired wide of McGovern with 20 minutes left.Ukraine peppered their opponents� goal with long-range shots before McGinn slammed in just before the end to wrap up a famous win.The Green Army will now make their way to Paris� Parc de Princes buoyed to face Joachim Loew�s Germany.2012 co-hosts Ukraine must beat Poland in Marseille next Tuesday, and hope the Irish lose heavily to Germany, to have any chance of progressing as one of the best four third-placed teams."It�s clear that it was a do-or-die game and it seems clear that we�re out of the tournament," said Stepanenko glumly."The last game is not going to have any special value for the tournament, just for the prestige."
 Sri Lanka beat Ireland by 76 runs, under the Duckworth/Lewis method for rain-affected matches, to win the first one-day international in Malahide on Thursday.</strongIreland, chasing a revised target of 293 in 47 overs, were dismissed for 216, with Sri Lanka ODI debutant Dasun Shanaka taking five wickets.Sri Lanka, after losing the toss, made 303 for seven with Dinesh Chandimnal scoring exactly 100 not out before rain interrupted Ireland�s chase.Victory saw Sri Lanka go 1-0 up in the two-match series ahead of the 2nd ODI, also in Malahide, on Saturday.
 Zimbabwe rose from the ashes of an embarrassing one-day series whitewash at the hands of India to stun the tourists in a thrilling Twenty20 international at Harare Sports Club.</strongZimbabwe�s batting had been dismal in the ODIs, when they failed to score more than 168, but on Saturday they appeared to rediscover their joy for the game and posted 170 for six on the back of Elton Chigumbura�s unbeaten 54.Manish Pandey led India�s reply with his 48, but Zimbabwe chipped away at the visitors to restrict them to 168 for six and win by two runs.The second game in the three-match series takes place at the same venue on Monday.With just six members of India�s 16-man squad boasting international experience in the shortest format, the tourists named five debutants for today�s game.Batsmen KL Rahul and Mandeep Singh, allrounder Rishi Dhawan, and bowlers Jaydev Unadkat and Yuzvendra Chahal all made their Twenty20 international bows.Zimbabwe were without Craig Ervine, Sean Williams and Vusi Sibanda due to injury. Allrounder Tinotenda Mutombodzi was recalled for his first Twenty20 international match in over three years, while Sikandar Raza Butt returned to the batting lineup after being dropped for the final ODI.strong>Teams</strongZimbabwe: Chamu Chibhabha, Hamilton Masakadza, Sikandar Raza Butt, Malcolm Waller, Elton Chigumbura, Richmond Mutumbami, Tinotenda Mutombodzi, Graeme Cremer (capt), Neville Madziva, Tawanda Mupariwa, Donald Tiripano.India: KL Rahul, Mandeep Singh, Ambati Rayudu, Manish Pandey, Kedar Jadhav, Mahendra Singh Dhoni (capt), Axar Patel, Rishi Dhawan, Jasprit Bumrah, Jaydev Unadkat, Yuzvendra Chahal.
 Romelu Lukaku silenced his critics with a brace as Belgium kick-started their Euro 2016 campaign by comfortably beating the Republic of Ireland 3-0 to move second in Euro 2016 Group E in Bordeaux on Saturday.</strongAfter being frustrated by the Irish in the first half, Belgium broke through when Everton striker Lukaku struck three minutes after the restart, atoning for his profligacy in front of goal in Monday�s 2-0 loss to Italy.Midfielder Axel Witsel headed home in the 61st minute and Lukaku got his second and Belgium�s third 20 minutes from the end as the highly-fancied Red Devils came good, albeit against a limited Ireland team who worked hard but created little.
 Mahendra Singh Dhoni won the toss and elected to bowl first as an inexperienced Indian side started its three-match Twenty20 international series against Zimbabwe at Harare Sports Club on Saturday.With just six members of India�s 16-man squad boasting international experience in the shortest format, the tourists named five debutants.Batsmen KL Rahul and Mandeep Singh, allrounder Rishi Dhawan, and bowlers Jaydev Unadkat and Yuzvendra Chahal all made their Twenty20 international bows.After being whitewashed 3-0 in an embarrassingly one-sided ODI series, Zimbabwe�s hopes of bouncing back in the Twenty20s were dented by the unavailability of Craig Ervine, Sean Williams and Vusi Sibanda due to injury.Allrounder Tinotenda Mutombodzi was recalled for his first Twenty20 international match in over three years, while Sikandar Raza Butt returned to the batting lineup after being dropped for the final ODI.<br/> <br/> Teams<br/> Zimbabwe: Chamu Chibhabha, Hamilton Masakadza, Sikandar Raza Butt, Malcolm Waller, Elton Chigumbura, Richmond Mutumbami, Tinotenda Mutombodzi, Graeme Cremer (captain), Neville Madziva, Tawanda Mupariwa, Donald Tiripano.India: KL Rahul, Mandeep Singh, Ambati Rayudu, Manish Pandey, Kedar Jadhav, Mahendra Singh Dhoni (captain), Axar Patel, Rishi Dhawan, Jasprit Bumrah, Jaydev Unadkat, Yuzvendra Chahal.Umpires: Jeremiah Matibiri (ZIM), Russell Tiffin (ZIM), TV umpire: Langton Rusere (ZIM)Match referee: Richie Richardson (WIS)
 June 18, 2016 (AFP) -Ireland captain William Porterfield won the toss and elected to field in the second one-day international against Sri Lanka at Malahide on Saturday.Sri Lanka made two changes to the team which won the first encounter of the two-match series by 76 runs under the Duckworth/Lewis method on Thursday, when they were also sent into bat by Porterfield.Suranga Lakmal, a pace bowler, and experienced all-rounder Farveez Maharoof, who took four wickets in a 2007 World Cup finals match against Ireland in Grenada, came in for Nuwan Pradeep and Dhananjaya de Silva.Ireland make one change, with off-spinner Andy McBrine in for fast-medium bowler Max Sorensen.Teams<br/> Ireland: William Porterfield (captain), Paul Stirling, Ed Joyce, Gary Wilson (wkt), Kevin O�Brien, Stuart Poynter, Andy McBrine, Barry McCarthy, Tim Murtagh, Boyd Rankin, John AndersonSri Lanka: Angelo Mathews (captain), Dinesh Chandimal (wkt), Farveez Maharoof, Shaminda Eranga, Suranga Lakmal, Danushka Gunathilaka, Kusal Mendis, Kusal Perera, Seekkuge Prasanna, Dasun Shanaka, Upal TharangaUmpires: Bruce Oxenford (AUS), Mark Hawthorne (IRL), TV umpire: Paul Reiffel (AUS)Match Referee: David Boon(AUS)�
 Arsenal goalkeeper David Ospina was the hero as Colombia slayed their penalty shoot-out jinx to defeat Peru and advance to the semi-finals of the Copa America Centenario here Friday.Ospina pulled off a superb save deep into injury time to deny Peru a goal before saving a spot-kick from Peru defender Miguel Trauco in the shoot-out to clinch a nailbiting win for Colombia.A largely disappointing quarter-final in front of 79,194 fans at East Rutherford�s MetLife Stadium was settled in penalties after the two sides finished 90 minutes deadlocked at 0-0.After Colombia drilled their first three penalties, the tide turned in their favor when Trauco saw his effort blocked by Ospina.Sebastian Perez then scored Colombia�s fourth penalty to put his 4-2 up and when Peru�s Christian Cueva blasted his spot-kick over the bar Colombia were through.Victory was especially sweet for Colombia, who had exited the competition last year at the same stage to Argentina.They will now play either Mexico or Chile in the semi-finals in Chicago next Wednesday.<br/> "Sometimes you win sometimes you lose, and today luck was on our side in the penalties," Colombia�s James Rodriguez said."Our goal was to get into the semi-finals at least and we�ve done that. Now we want to win the title," the Real Madrid star added.Goalkeeper Ospina said he believed Colombia could reach the June 26 final."I contributed my bit, and we want to keep going from here," Ospina said. "We can get to the final. The semi will be tough regardless of whoever we face."The tone for a niggly encounter was set in the first 18 minutes, which saw no fewer than 11 fouls committed, mostly coming from Peru.The stop-start nature of the contest hampered Colombia�s attempts to build momentum and made for a mostly frustrating half for the talented 2014 World Cup quarter-finalists.Carlos Bacca was the first to threaten the Peru goal, but his shot from a tight angle after seven minutes hit the post.�
 Alex Hartley, the uncapped left-arm spinner, and Fran Wilson, who last played an international match in 2011, earned call-ups to the England Women's squad of 15 for the first two one-dayers against Pakistan Women, following strong performances for England Women's Academy in Sri Lanka earlier this year.Amy Jones has been designated to take over the wicketkeeping duties from Sarah Taylor, while Lauren Winfield, has been named as a back-up option. Taylor is currently on an indefinite break from the game to recover from stress and anxiety issues that have riddled her for the last four years.June 20 will also officially mark a change of guard in England women's cricket as Heather Knight, the allrounder, will lead the side for the first time following Charlotte Edwards� retirement in May. Knight will have in her ranks a top-quality pace attack led by Anya Shrubsole, the newly-appointed vice-captain, and Katherine Brunt, who is one short of 100 ODI wickets. Beth Langston, the seamer, has been ruled out of selection because of an ankle injury."Monday is going to be a very proud day for our new captain and vice-captain, Heather Knight and Anya Shrubsole," Mark Robinson, the head coach, said. "Under their leadership we will start a new chapter for the England Women's team against a Pakistan side that cannot be underestimated. Pakistan showed everyone during the ICC World T20 how dangerous they can be, when they beat the hosts India on their own patch. They represent a fresh challenge that as a squad we can't wait to get out there and tackle."All three ODIs of the series will count towards the ICC Women's Championship that will determine the top four direct qualifiers for the 2017 Women's World Cup to be held in England next year. England and Pakistan are currently placed sixth and seventh, respectively. However, England have an incentive of moving to No. 3 if they win the series, while Pakistan can jump two spots should they win all three matches."Historically, we have a strong record against Pakistan, but the quality of international women's cricket is rising all the time, so we are looking forward to the challenge of facing them on home soil over the next few weeks," Robinson said. "We have a bit of catching up to do in the ICC Women's Championship, so we will need to play some strong, positive cricket to secure maximum points in the three ODIs in order to move into the top four of that table."
 Pakistan cricket team has left here for England where it will play a series of four Test matches, followed by five One-day Internationals and a Twenty20 International.On reaching London, the cricket team will undergo a ten-day training camp to get familiar with the English conditions before their first warm-up game against Somerset at Taunton on July 3.It will play its first Test match against England from July 14 here at Lord�s.The national team reached the Lahore Airport from the National Cricket Academy and left for London via Dubai through the flight of an international airline.The Pakistan cricket team was accompanied by its captain Misbah-ul-Haq, manager Intikhab Alam along with nine officials including head coach Mickey Arther.After arriving in London, the team will go to Hampshire where it will participate in a ten-day training camp before playing two side matches.According to the schedule, Pakistan will play their first of the four Test matches from July 14 at Lord�s in London.
 Left-arm fast bowler Mohammad Amir has said that he feels �terribly lucky� to make a comeback to the Test cricket and this time you will see a totally different Amir in England.Talking to ESPNcricinfo ahead of the side's departure for England on Saturday, Amir said that he was left with "unfinished business" and sought a fresh start to help Pakistan seal the series."To be honest I never thought about my comeback and I feel terribly lucky to be back to play Test cricket again," Amir told the website."I was all excited for Test cricket because that is where my career was held back and I still can't believe that this is happening,� he saidThe left-arm pacer said that his only aim is to be the best bowler of the series, get Pakistan to win the series, and sign off with fresh memories."I might have registered my comeback months ago, but Test cricket is the actual cricket, and playing it again is what I was looking forward to, and this is my real comeback," Amir said.�I want to get my name at the honors board at Lord's once again to win back the love and support in England. I am looking at this tour positively as I want to supersede my past with a better future."�He said that you will see a different Amir this time in England as a bowler, as a person with new refreshing thoughts.�I have gone through a lot of tough times, which actually taught me a lot of good lessons, and now I am much stronger than before,� Amir said.Mohammad Amir�s return after serving a five-year ban over spot fixing case was initially resented by some of his team mates but the 24-year-old left-arm paceman has enjoyed steady support from PCB.Newly appointed head Coach Mickey Arthur has also promised to do everything in his power to help Mohammad Amir realise his full potential after the bowler was granted a visa for the team�s upcoming tour of England.
strong>The governor of the Brazilian state of Rio de Janeiro declared a state of financial emergency on Friday, requesting federal funds to help fulfill obligations for public services during the Olympics, which start Aug. 5.</strongEmergency measures are needed to avoid "a total collapse in public security, health, education, transport and environmental management," a decree in the state's Official Gazette said. The state's revenue has slumped in the last two years as global oil prices have collapsed.The announcement followed this week's visit to the Olympic city of Rio de Janeiro by Interim President Michel Temer, who said the federal government would ensure obligations are met.The city is expecting about 500,000 foreign visitors during the Olympic Games. The local organising committee for the games did not immediately respond to requests for comment.While the majority of Olympic infrastructure costs have been spread across city, state and federal budgets, with some financing from private companies, the state is responsible for most day-to-day security and health services in Rio.The state of Rio expects a budget deficit of over 19 billion reais ($5.56 billion) this year as spending planned before oil prices fell outstrips revenue that is tumbling during Brazil's worst recession since the 1930s.Rio state's debt has been downgraded several times.On Wednesday, Fitch Ratings knocked Rio's debt rating to B- from B+, saying the state was suffering "a fast-deteriorating liquidity position."Since late last year, the state has been forced to delay pension and salary payments and shutter some schools and hospitals, where crucial supplies, including medicines and syringes, are lacking.Brazil is also facing an outbreak of the Zika virus, which has been linked to the birth defect microcephaly in which babies are born with abnormally small heads frequently associated with developmental issues.
 Italy moved into the knockout stages of Euro 2016 and continued to defy their doubters as Eder scored two minutes from fulltime to secure a 1-0 win over a shot-shy and unadventurous Sweden on Friday.</strongEder ended a great run by firing home to move Italy clear at the top of Group E on six points after two matches following their 2-0 victory over Belgium in their opening encounter.The result left Sweden in an uncomfortable position with one point after two games ahead of their final group clash against Belgium next week.Sweden were well organised at the back but toothless in attack, with their danger man Zlatan Ibrahimovic looking a shadow of his brilliant best and hardly creating a chance.Italy, who came into the tournament with questions surrounding the strength of their squad, but surprised many with their superb performance against a highly-fancied Belgium side, relied on their trademark, tight defence against the Swedes.They rarely threatened up front, however, until Marco Parolo hit the crossbar with a header shortly before Eder netted the winner."It was a difficult game," Italy coach Antonio Conte told Rai Sport. "We struggled in the first half."The boys did well to ride the storm and hurt Sweden when we needed to."Italy had been praised for their unity and work rate in their opening win over Belgium, but appeared to have no answer to Sweden's organised rearguard until Eder's late intervention.Sweden coach Erik Hamren had criticised their lack of attacking vitality following their opening 1-1 draw with Ireland, and while there was an improvement in their overall performance, Ibrahimovic once again failed to provide a cutting edge and live up to his billing."We were much better than the Italians for periods, but we didn�t create really dangerous chances," Sweden midfielder Albin Ekdal told Swedish broadcaster SVT.Sweden are still without a shot on target at the tournament, although Martin Olsson proved a menacing threat down the left, sending an effort just over the bar on 18 minutes having set the tone with an early cross that prompted a nervous clearance from Giorgio Chiellini.Olsson's frequent forays left space for Antonio Candreva, but Andreas Isaksson and Erik Johansson combined to clear his testing deliveries, while Ibrahimovic flashed a close-range header wide towards the end of the first half.Having masterminded victory over the Belgians, Conte's tactics were completely neutralised during the opening 45 minutes in Toulouse and his side appeared unsettled as a result."At halftime Conte told us we were too slow and he was right," Parolo told Rai Sport."We changed the tempo after the break and we deserved our victory."Conte introduced Simone Zaza in the 60th minute and he had a decisive role in the winner, heading a Chiellini throw in into the path of Eder.The forward then cut in from the left -- evading Andreas Granqvist's attempted tackle -- and sent a curling right-footed shot round Isaksson to take Italy through.
strong>Cristiano Ronaldo will continue to take penalties for Portugal despite losing his touch from the spot for both club and country, coach Fernando Santos said on Sunday.</strongRonaldo, Portugal's all-time leading scorer, missed a penalty in the 0-0 draw with Austria in Group F on Saturday and has failed to hit the target in four of his last five penalties for Portugal and Real Madrid."If there is a penalty in the next game, Cristiano Ronaldo will take it and he will score," Santos told reporters. "He is used to scoring goals, he is a winner and he also reacts well when he makes a mistake. That is what we expect from him."Ronaldo, who won a record 128th cap on Saturday, has had a disappointing Euro 2016 so far, failing to convert any of several good chances as Portugal have drawn both of their games.Left-back Raphael Guerreiro has increased the pressure on Ronaldo's place as the free kick specialist after scoring with a superbly-taken effort in a 3-0 friendly win over Norway before the tournament when Ronaldo was not playing."Cristiano always wants to take the free kicks and it has always been him who has taken them," said Santos. "If Raphael had not scored that goal, nobody would be talking about this.""We played really well against Austria without scoring and we have to continue with this attitude. We made Austria, who are ranked 10th in the world, look like a small team."Santos said Portugal should not be ashamed of "being ugly" and that he had told his family that he would not be coming home until the day after the Euro 2016 final when he expected a party."Sometimes, I get the feeling that we are ashamed about being ugly, or not being pretty," he said. "If we have to be ugly and that brings us efficiency, we have to be ugly. I'm ugly by nature and I don't mind being even uglier."Portugal need to beat Hungary on Wednesday to make sure of qualifying for the knockout stages but Santos said he would be staying in France until the final on July 10."I am only going back to Portugal on July 11 and I am going to be welcomed with a party," he said.
strong>Cristiano Ronaldo missed a second-half penalty and had a late headed effort disallowed as Portugal's future at Euro 2016 looked in jeopardy following a 0-0 draw against Austria in a wide open Group F on Saturday.</strongRonaldo won his 128th cap to break the record of Luis Figo, who was watching from the stands, but his landmark occasion turned into a night of torment for the Real Madrid luminary.He fired his 79th minute spot kick against the post -- the fourth penalty he has missed in his last five for club and country -- having already squandered several chances in an entertaining game at the Parc des Princes.Ronaldo then thought he had made amends in the 85th minute by grabbing the winner with a header but it was ruled out for offside. He has had 20 shots so far at the tournament, more than nine entire teams have managed, but has still to score.Hailed as potentially tough opponents after an impressive qualifying campaign, Austria, ranked 10th in the world, again failed to live up to expectations after a 2-0 defeat by Hungary in their opener.Hungary top the group with four points after earlier snatching a 1-1 draw against Iceland, who are level with Portugal on two points and ahead of Austria on one.Portugal, who were knocked out in the first round at the 2014 World Cup, face a tense final match against Hungary while Austria will play Iceland on Wednesday.Asked about Ronaldo, Portugal coach Fernando Santos snapped."I understand you and don't talk to you about Cristiano," he told a news conference."Of course we're going through a tough time but we need to switch back immediately and can't wallow in our own misery. The next match is a final for us."We faced a very strong Portuguese team but we ran a lot and we fought hard," said Asutria coach Marcel Koller.strong>THREE CHANCES</strongPortugal, held 1-1 by Iceland in their opener, had three opportunities in the space of three minutes early on but Nani, Vieirinha and William Carvalho were denied by alert keeper Robert Almer."Messi, Messi," sang the Austria fans gleefully after Ronaldo missed the target as he latched on to Nani's cross into the area in the 22nd minute.Portugal came closer seven minutes later when Nani's header hit the woodwork.Stefan Ilsanker bossed the Austria midfield, breaking up several Portugal attacks and orchestrating play for his team mates as David Alaba appeared to be having an off night.Ilsanker provided Austria with their first shot on target early in the second half with a powerful low drive that was tipped away by Rui Patricio.Ronaldo was then denied twice in quick succession, Almer parrying away a shot from 20 metres and a header to keep his team afloat as Portugal stepped up the pressure.Alaba and Ricardo Quaresma, both supposed to provide a creative spark for their respective teams, were substituted midway through the second half after disappointing displays.Ronaldo had the perfect chance to snatch the points for Portugal after being fouled by Martin Hinteregger but his penalty struck Almer's right-hand post and six minutes later he was given offside after planting a precise header into the net.After his wretched night, Ronaldo, much criticised already at the tournament for a lack of humility after his dismissive comments about Iceland's tactics in their previous match, demonstrated a dignified side.When a fan stepped onto the pitch at the final whistle, Ronaldo asked a couple of stewards to let the intruder take a selfie with him. For one moment, he got something right.
 Australian big hitter Scott Hend overcame a two-shot deficit to snatch victory in the Queen�s Cup on Thailand�s Koh Samui island on Sunday as overnight leader Prom Meesawat stumbled.The 42-year-old finished the day with a four-under-par 67, one shot ahead of runner-up and local talent Gunn Charoenkul in the $300,000 competition at the Santiburi Samui Country Club.It was Hend�s second title of the season and his ninth career victory on the Asian Tour.Hend, the most successful international player on the tour, said he was pleased to make up for some recent near-wins in Mauritius and China."Whether this was my golf course or not, I�ve been playing very good golf and trying to not get down on myself. It�s nice to win again," he said, according to a report by tour organisers.Two late bogeys saw Thailand�s Prom go from starting the day out in front to ending with a disappointing 72.He finished in joint third alongside American Paul Peterson, Korea�s Wang Jeung-hun and Thailand�s Pavit Tangkamolprasert.
 Sri Lanka captain Angelo Mathews said his side will have to be at their best to beat England in the five-match one-day international series which starts on Tuesday.Mathews was speaking after overseeing a 2-0 ODI series victory over Ireland in Malahide after the second match was won by an emphatic 136-run margin on Saturday.Opening batsman Kusal Perera, who would have missed the tour had a drugs ban not been rescinded following a faulty doping analysis, made a century to build the platform for his side�s huge total of 377 for 8."We still can improve a lot in all departments. It was a pretty convincing victory today, but we need to be at our best to beat England," said Mathews.Eoin Morgan�s England have improved dramatically in 50-over cricket since the Sri Lankans thrashed them by nine wickets in Wellington during last year�s World Cup.Seekkugge Prasanna came in a three to pinch-hit in explosive style, bludgeoning nine sixes and five fours to leave his previous best ODI score of 42 far behind with 95 from just 46 balls.The fifth and sixth overs of the Ireland reply were maidens and when captain William Porterfield was out to the first ball of the seventh over, Ireland, who have never beaten Sri Lanka in five attempts, could not cope. It needed a last wicket stand of 54 between Andrew McBrine and former England international Boyd Rankin to get the Ireland total over 200.The man of the series was Sri Lanka�s Dasun Shanaka, who scored 42 off 19 balls and took five wickets on his debut in the tourists� 76-run win in the first match on Thursday and Mathews has high hopes for the 24-year-old.Perera took advantage of the very good pitch to score 135, his second ODI century, before he was the second of three dismissals in the space of five balls. <br/> He faced 128 balls, with 16 fours and two sixes, and was happy to play second fiddle to Prasanna, who dominated an electrifying second-wicket stand of 161 in 89 balls.The late flurry of wickets allowed Ireland to restrict Sri Lanka to 67 from the last eight overs, when a total of 400 had looked likely.Suranga Lakmal was Sri Lanka�s most successful bowler. Sharing the new ball with Mathews, he dismissed both Ireland openers in the space of 10 balls, broke the stubborn seventh wicket stand between Stuart Poynter (36) and McBrine (79 off 64 balls) and added a fourth wicket at a personal cost of just 38 runs.Prasanna completed a fine all-round game with two for 32 from eight overs, and although Shanaka took only one wicket in his second game, it was the big one of the dangerous Kevin O�Brien.
 Eduardo Vargas scored four goals as holders Chile sent Mexico spinning to a historic 7-0 defeat to reach the semi-finals of the Copa America Centenario here Saturday.Hoffenheim forward Vargas completed a hat-trick in 13 devastating minutes either side of half-time to send Chile into a semi-final against Colombia in Chicago on Wednesday.The drubbing was Mexico�s worst ever defeat in the finals of a major tournament. Their previous biggest loss was a 6-0 rout by West Germany at the 1978 World Cup in Argentina.The rout was also only one goal away from equalling Mexico�s heaviest ever defeat in any international, an 8-0 thrashing by England in London in 1961.Vargas grabbed his fourth goal in the 74th minute to give Chile a 6-0 lead.<br/> But the punishment did not finish there with Edson Puch adding a seventh in the 88th minute for his second of the match.Chile, winners of last year�s Copa America on home soil, had faced an intimidating atmosphere in front of a crowd of 70,547 people at the Levi�s Stadium, home of the San Francisco 49ers.But despite the overwhelmingly pro-Mexico crowd, Chile were quicker to settle, with Puch opening the scoring on 16 minutes when he steered in a rebound from Marcelo Diaz�s shot after Guillermo Ochoa could only parry away.Vargas grabbed a second a minute before half-time to stun the crowd into silence as the teams headed in for the break.Chile then cut loose early in the second half with slick inter-play ripping apart a feeble Mexican defense at will.Arsenal star Alexis Sanchez made it 3-0 in the 49th minute before two more goals from Vargas in the 52nd and 57th minutes piled on the agony for Mexico.Several Mexican players visibly wilted in the face of the onslaught, and for periods the game resembled a training exercise for Chile as they swept forward relentlessly.<br/> Vargas�s fourth made it 6-0 on the night before Puch then toe-poked home to complete the scoring.Brazilian referee Heber Lopes spared Mexico the possibility of greater humiliation, whistling for full-time almost on the stroke of 90 minutes, with no time added on.
 Lionel Messi scored a record-equalling 54th international goal as Argentina outclassed Venezuela 4-1 to book their place in the semi-finals of the Copa America Centenario here Saturday.The Barcelona superstar scored his fourth goal of the tournament in the 60th minute at the Gillette Stadium to equal Gabriel Batistuta�s long-time Argentina international goalscoring record.Messi also created a goal for Gonzalo Higuain, who scored twice, and second half substitute Erik Lamela as Argentina set up a semi-final against the United States in Houston on Tuesday.Messi is determined to lead Argentina to their first trophy in 23 years after a series of agonizing near-misses which include defeats in the finals of last year�s Copa America and the 2014 World Cup final.Messi�s genius created the opening goal after eight minutes, with the playmaker lofting a sublime curling pass to pick out Higuain�s run into the area.Napoli forward Higuain still had plenty to do but skillfully directed a first time strike past Venezuela goalkeeper Dani Hernandez for a wonderful goal.Argentina remained firmly in control but were jolted in the 27th minute when Nicolas Gaitan picked up a needless yellow card for a kick on Alexander Gonzalez that will see him suspended for the semi-final.Argentina�s dominance clearly had Venezuela rattled, and the Vinotinto�s defensive unease led to the next goal.A slack backpass from Arquimedes Figuera went straight to Higuain in space, and the striker coolly rounded Hernandez to stroke home his second of the night to make it 2-0 after 29 minutes.But just when it looked as if the floodgates would open, Venezuela rallied impressively and had Argentina rocking with a series of chances.<br/> <br/> West Bromwich Albion striker Salomon Rondon forced a save from Sergio Romero and hit the woodwork in quick succession.Romero was left scrambling to save once again just before half-time, when fullback Rolf Feltscher�s long-range shot deflected off Gabriel Mercado and looped up and over the Argentina keeper.Venezuela looked to have a justifiable claim for a penalty when Higuain brought down Josef Martinez in the box but Mexican referee Roberto Garcia was unmoved. <br/> Seconds later though Garcia was pointing to the spot after Romero clumsily bundled over Martinez for a clear penalty.But Venezuela�s pressure went unrewarded when Luis Manuel Seijas tried a risky "Panenka" down the middle which Romero read and gathered with ease.Venezuela were unable to renew their period of pressure in the second half, and Messi effectively put the contest to bed with his record-equalling goal in the 60th minute, which came after Argentina pressed high to force a turnover.Gaitan won the tackle and passed to Messi, who quickly played a one-two with the Benfica winger before poking his finish between Hernandez�s legs.Rondon pulled a goal back with a header in the 70th minute, but Messi�s response was instant, threading a pass to Lamela whose shot crept in at Hernandez�s near post.
 Shane Lowry is determined to enjoy his moment in the spotlight as he leads the US Open going into Sunday�s final day.The burly, bearded Irishman showed superb form on Saturday to climb his way past some of the best golfers in the world and take a two shot lead with four holes to go in his third round when darkness intervened.Now he will have to get up at the crack of dawn on Sunday and finish those holes off before regrouping for the final 18.It is something the 29-year-old from County Offaly, the son of 1982 All-Ireland winning footballer Brendan Lowry, says he is looking forward to."I�ve been beating myself up over the last six months trying to get in this position," he said. "I�m here now. I might as well enjoy it while I�m here."Lowry first made his mark when he won the Irish Open as an amateur in 2009 -- just the third amateur to win on the European Tour.The week after that he opted to turn pro, but he found the going hard at first, his first win coming in the 2012 Portugal Masters.But his progress has been impressive in the last year based around his breakthrough win at the 2015 WGC-Bridgestone Invitational.That proved to him that he had what it takes to compete at the highest of levels."It obviously means a lot, because I have beat a field of this quality already. So there�s no reason I can�t go out and do it again tomorrow," he said.No player from the Republic of Ireland has ever won the US Open, although Northern Irishmen Graeme McDowell and Rory McIlroy have both won the tournament in recent years.To join them, he will need to hold off a talented chasing pack that includes major winners Jason Day and Zach Johnson as well as three players desperate to finally bag a major title in Lee Westwood, Sergio Garcia and Dustin Johnson.
 Kusal Perera and Seekkuge Prasanna both made career-best scores as Sri Lanka beat Ireland by 136 runs in the second one-day international at Malahide on Saturday.</strongVictory saw Sri Lanka enjoy their second heartening win in a matter of days as they took the two-match series 2-0 and gave them a confidence boost ahead of their upcoming five-game ODI campaign in England.Put into bat, they amassed 377 for eight. Perera top-scored with an ODI best 135 and Prasanna made 95 -- his highest score at this level.Ireland, in reply, were bowled out for 241.Sri Lanka, again sent into bat as they had been in their 76-run win in the first ODI at Malahide on Thursday, were well-placed at the half-way stage.And when Suranga Lakmal and the recalled Farveez Maharoof removed Ireland�s top three with just 41 on the board, the rest of the match proved a formality.John Anderson, an accountant and the only amateur in the Ireland side, showed promise for the future with 34 and Andy McBrine, batting at No 8, finished the innings in some style with 79 from 64 balls, including seven fours and two sixes.McBrine and Boyd Rankin (18 not out) delayed the inevitable with a last wicket stand of 54 -- both making their highest scores for Ireland and Sri Lanka captain Angelo Mathews had to bring himself back to break the partnership and win the match with five overs to spare.Sri Lanka, put in on another excellent batting pitch, made the perfect start with Kusal Perera and Danuska Gunathilaka sharing an opening stand of 147.Gunathilaka was the first to go, in the 27th over, for 63, just two short of his ODI best, but both Perera and Prasanna easily passed their previous highest scores at this level.Prasanna, promoted to a pinch-hitting role at number three, played his role to perfection to more than double his career best in a superb display of hitting.He was dismissed five runs short of a deserved century having faced just 46 balls with nine sixes and five fours and he dominated the second wicket stand of 161 with Perera which took just 93 balls.Perera reached his second ODI hundred from 105 balls with 10 fours and two sixes and added another 35 before he was caught at mid-wicket off Middlesex�s Tim Murtagh.In all he faced 128 balls and finished with 16 fours and two sixes.Sri Lanka were on course for a total in excess of 400 but Ireland pulled them back by taking four wickets for 13 runs in the last three overs, although by then the damage had been done.Barry McCarthy, a 23-year-old seamer in only his second international, was Ireland�s most impressive bowler, finishing with two for 52.By contrast Boyd Rankin, in his first home series for five years after appearing for England, finished with one for 86 from his 10 overs.Ireland will now look for an improved showing when they face Pakistan in a two-match home ODI series in August.
strong>Mandeep Singh blasted a quick-fire unbeaten half-century as India crushed Zimbabwe by 10 wickets to level the Twenty20 series on Monday.</strongThe result sets up a series decider in the third and final game that will also be played at the Harare Sports Club on Wednesday.Zimbabwe won the toss and elected to bat, but could only muster 99 for nine in their 20 overs as the Indian bowlers strangled the run-rate.The tourists made short work of their reply, racing to their victory target off 13.1 overs as Mandeep Singh (52 from 40 balls) and fellow opener Lokesh Rahul (47 from 40 balls) put on a century stand.All the Zimbabwe batsmen struggled to score quick runs in their innings with none managing more than a run a ball. Peter Moor (31 from 32 balls) was the only one to muster any sort of resistance.Debutant seamer Barinder Sran took for wickets to lead the Indian charge, while fellow paceman Jasprit Bumrah picked up three wickets in his four overs.India also handed a debut to seamer Dhawal Kulkarni, though he was by far the most expensive of the bowlers as his one wicket cost 32 runs.
 India fast bowler Mohammed Shami has offered positive feedback on the pink ball in Indian conditions, after it was used on an experimental basis during a domestic game at Eden Gardens.</strongIn April, India's cricket board decided that one game of an upcoming three-test series against New Zealand would be a day-night affair, pending trials of the pink ball.The 26-year-old, who picked up five wickets playing for Mohun Bagan in the day-night final, said South Asian conditions favoured swing with the pink ball, which was an exciting prospect."With red or white balls, there was some visibility problem as it took (on) the colour of grass," he was quoted as saying by the Press Trust of India."Definitely I will prefer this (pink) ball, this is much better. The biggest plus point is (the swing) under lights, what else does a bowler want? It's challenging for both batsmen and bowlers."If we can maintain the dryness, I'm sure it will reverse. It did (reverse), I noticed."Wicketkeeper Wriddhiman Saha echoed Shami's sentiments but said pace would prove challenging for batsmen."Every ball is swinging a bit either way which was never the case with the red (ball). The visibility is perfect," Saha told PTI. "But batsmen will have problem if a pacer consistently bowls at 140 km per hour."
strong>Long-hitting American Dustin Johnson, seeking major redemption after several near-misses in recent years, won the 116th U.S. Open on Sunday amid high drama and initial uncertainty over his victory margin.</strongIn pursuit of his first grand slam crown, the world number six played clutch golf under intense pressure at brutally difficult Oakmont Country Club, finishing in style as he sank a short birdie putt at the last.Having negotiated the final seven holes under notice that he might be penalised for a rules infraction on the fifth green, despite being cleared by another official at the time, he was docked a shot after the round's completion, with his score amended to a closing 69 for a four-under winning total of 276.After sinking the final putt to clinch his 10th PGA Tour victory, Johnson pumped his right fist in delight, and then lifted his putter to acknowledge the loud roars from the crowd before being embraced by his caddie."Feels good, feels really good, feels well deserved," an emotional Johnson said after finishing three shots in front of fellow Americans Jim Furyk (66) and Scott Piercy (69), and Ireland's Shane Lowry (76).Lowry had been four ahead after the weather-delayed third round was completed earlier on Sunday but he struggled in the conditions while piling up seven bogeys."I've had a lot of opportunities that I didn't quite get done, so this one's definitely really sweet," said Johnson. "I knew I was swinging well, and I just kept thinking, it's just me and the course."I'm playing against the course. I can't control what anyone else does. So I just tried to hit golf shots, tried to hit it on the correct side of the hole, and two-putt."The rules controversy was sparked when Johnson's ball moved slightly as the American was preparing to attempt his par putt at the fifth hole, shortly after his birdie attempt there from five feet broke left and slid past the cup.He denied having caused the movement and the official accompanying the pairing decided not to levy a penalty.After being informed on the 12th tee by a U.S. Golf Association official that he might be penalised after the round, Johnson ran up a three-putt bogey at the 14th but otherwise displayed nerves of steel as he negotiated the closing stretch.He rolled in a 10-footer to save par at the 16th and thunderous roars of "DJ, DJ, DJ" rang out as the crowd gave vocal support to the tournament leader in his bid for a first major victory after a series of heartbreaks in the past.Johnson had previously recorded 11 top-10s in the majors without winning, including two-runner-up spots, and he missed a three-foot putt at the final hole to hand last year's U.S. Open at Chambers Bay to Jordan Spieth.On Sunday, however, Johnson was remarkably composed in the circumstances and made several clutch putts on a day when the entire field struggled on greens running lightning-fast."After last year, to come back and perform like this, I think it shows what kind of golfer I am," said the 31-year-old. "I've knocked on the door a bunch of times. To finally get that major win, it's huge."American world number two Spieth finished a disappointing title defence with a 75 for a nine-over total of 289.
 Sri Lanka paceman Shaminda Eranga has been banned from bowling in international matches due to an illegal action, the International Cricket Council said on Sunday, just hours after he was taken to hospital to undergo tests on his heart.</strongThe 29-year-old reported feeling discomfort while batting during Sri Lanka�s ODI win over Ireland on Saturday."He was okay and stable and we�re awaiting the results," a Sri Lanka Cricket spokesman told British media.Eranga�s action was reported during the second test against England at Chester-le-Street last month and his action was found to be illegal after an independent assessment, the ICC said in a statement."The assessment revealed that all deliveries exceeded the 15 degrees level of tolerance permitted under the regulations ... As such, the fast bowler has been suspended from bowling in international cricket with immediate effect," the statement added.Sri Lanka play England in the first game of a five-match ODI series in Nottingham on Tuesday.
� A goal from striker Armando Sadiku helped Albania to a 1-0 victory over Romania at Euro 2016 on Sunday to earn their first three points and a chance of advancing to the knockout stages.</strongSadiku scored Albania�s first goal in the finals of a major tournament with a header just before half time from a cross by Ledian Memushaj in their last group A clash.Romania fought back in the second half, and substitute Florin Andone rattled the Albanian bar with 15 minutes left, but otherwise their efforts were blocked time and again by determined Albanian defending.<br/>The result leaves Albania third and Romania fourth, with just one point, in a group topped by France and Switzerland.The Albanians will have to wait for the results of the other groups to see whether they go through as one of the four best third-placed teams.
 Paul Pogba twice struck the woodwork as Euro 2016 hosts France were left frustrated in a goalless first half of their final Group A game against Switzerland in Lille on Sunday.</strongThe Juventus midfielder was one of five players brought into the French starting line-up following their 2-0 win over Albania and he had an early effort turned onto the bar by Swiss goalkeeper Yann Sommer.Pogba then crashed a stunning 25-yard strike onto the crossbar as Switzerland held on at the break.France are already through to the last 16, but require a point to progress as group winners. Switzerland need a point to be certain of joining France in the next round, but will take over from them as group winners if they prevail.
 World champions Germany and second-placed Poland qualified for the knockout round of Euro 2016 from Group C after winning their final group matches on Tuesday.</strongGermany beat Northern Ireland 1-0 thanks to a Mario Gomez goal, while second-half substitute Jakub Blaszczykowski secured the win for Poland against already-eliminated Ukraine in Marseille.The results meant Croatia, Hungary and Slovakia are also guaranteed spots in the last 16,Germany will now play the third-placed team in Group A, B or F in Lille on Sunday.Poland will face Switzerland in Saint Etienne on Saturday.
 Mario Gomez struck as world champions Germany beat Northern Ireland 1-0 in Paris on Tuesday to qualify for the Euro 2016 knockout phase as winners of Group C.</strongDrafted in to address the goal-scoring problems witnessed in Germany�s 0-0 draw with Poland, the on-loan Besiktas striker netted from Thomas Mueller�s pass in the 30th minute at Parc des Princes.That Germany did not win more handsomely was due largely to the excellence of Northern Irish goalkeeper Michael McGovern.But it was enough to preserve their position at the top of the group on goal difference above Poland, who beat Ukraine by the same scoreline in Marseille.Joachim Loew�s side will now turn their thoughts to a last 16 tie against either Albania, Slovakia or the third-place team in Group F -- which is yet to conclude -- in Lille on Sunday.Michael O�Neill�s Northern Ireland, meanwhile, must wait to have their qualification confirmed.They finished third in the group, but their 2-0 win over Ukraine last week puts them in a strong position to go through as one of the four best third-place teams in what is their first European Championship finals.O�Neill kept faith with the team that had overcome Ukraine, but whereas his side had set the tempo in Lyon, they were immediately on the back foot against Germany.With full-backs Jonas Hector and Joshua Kimmich pushing high up on either flank and Jerome Boateng and Toni Kroos lofting passes behind the Northern Irish defence, Germany effectively took up residence in the final third.
 England Women captain Heather Knight won the toss and put Pakistan Women into bat in the first One-day International in the ICC Women�s Cricket Championship here on Tuesday.Knight, newly appointed captain, was made to wait for her captaincy bow as heavy rain delayed the start on Monday.Sana Mir is leading the Pakistan Women team.Teams:Pakistan Women: Sidra Ameen, Javeria Khan, Bismah Maroof, Nain Abidi, Iram javed, Sana Mir (captain), Asmavia Iqbal, Nida Dar, Sidra Nawaz (wk), Sania Khan, Anam Amin.England Women: TT Beaumont, KH Brunt, KL Cross, GA Elwis, AE Jones (wk), HC Knight (captain), LA Marsh, NR Sciver, A Shrubsole, L Winfield, DN Wyatt.�
 Fast bowler Mohammad Asif has ended up playing in Norway as he plots a return to Test cricket, five years after a notorious spot-fixing scandal, a report said.</strongAsif, 33, told the Cricinfo website he was playing with Oslo�s Christiania Cricket Club to work on his fitness and was "100 percent sure" he�d play for Pakistan again.Asif was caught bowling no-balls to order against England at Lord�s in 2010, an offence which landed him with a jail term and a five-year ban."One of my friends called me to ask me to come and play some cricket," he said, of his arrival in the cricketing backwater."There�s good weather for training -- that�s why I came here. The cricketing standard is not too high but it�s still cricket."Asif�s one-time new-ball partner Mohammad Amir, now 24, is back in the Pakistan squad despite his involvement in the spot-fixing and is in line to return to Test cricket -- uncannily, at Lord�s -- next month.But Asif and Salman Butt, their former captain who was also punished over the scandal, remain outside the international fold."Hopefully I will do well in Pakistan and get selected for the national team for the tours to New Zealand and Australia," Asif said, referring to Pakistan�s two series from November to January."It�s quite difficult after five years to come down and bowl fast but I�m a different kind of bowler," he added."I�m not like a 100-mile bowler -- I�m more dependent on swing and seam, they�re my main weapons. My pace was always 130 or 135 kph (81-84 mph)."This (Oslo) is a good pace for swing. I just need good fitness."
 England's one-day captain Eoin Morgan said he hopes the test series win against Sri Lanka will provide the foundations for victory in the shorter format of the game, starting with the first ODI at Trent Bridge on Tuesday.</strongEngland have recalled Jonny Bairstow into the ODI side following his superb form, which saw him named man of the series in the 2-0 test series victory against the Sri Lanka."It's an unbelievable start. Cookie [test captain Alastair Cook] hands the baton over to me and hopefully I don't let him down," Morgan told reporters on Monday."Confidence is a big thing, and it's crucial to build on that confidence we've had going forward."Morgan added that the absence of hard-hitting all-rounder Ben Stokes through injury would be a big blow for the side."It does affect us because Ben bats at five, doing both roles very well," he added."We don't have an answer to back up at the moment, but it does create an opportunity for someone else."Sri Lanka will have to cope without paceman Shaminda Eranga, who was banned for an illegal action by the International Cricket Council on Sunday just hours after he had been taken to hospital to undergo tests on his heart.Morgan said that though conditions have posed a challenge to Sri Lanka, he expects a tough fight in the shorter format of the game."They (Sri Lanka) have found it tough work since they came here, but ODI cricket comes more naturally to them," he said."They are ranked above us, so we won't take them for granted and we are looking to ourselves to build and put performances in."England play Sri Lanka in five ODI's and a one-off Twenty20 game in Southampton on July 5.
strong>England put Slovakia on the rack for long spells but were forced to settle for a 0-0 draw on Monday, frustrating coach Roy Hodgson as his side reached the knockout stages despite slipping behind Wales in their group at Euro 2016.</strongEngland's failure to beat Slovakia, who came third in Group B, and should also go through to the last 16, means they will now face the runners-up in Group F instead of a potentially easier tie against one of the third-placed teams."It's certainly very disappointing that once again we've had all of the play and a lot of opportunities in and around the Slovakia box and we've not been able to take one," Hodgson told a news conference."I can't deny that's both frustrating and disappointing. It's something we'll have to continue to work on, but I believe it will come because I think we have players in the team who can score goals and who will score goals."England have five points, behind Wales, who beat Russia 3-0, on six, and will play their last 16 tie in Nice on June 27.Slovakia, on four points, must wait to see if they go through as one of the four best third-placed teams."England have very good attacking quality," said goalkeeper Matus Kozacik, who was man of the match."We needed at least one point and managed to get it, and I hope with the four points we'll manage to get through."England made six changes and their new-look lineup created several chances, with Jamie Vardy, Adam Lallana, Nathaniel Clyne and substitute Deli Alli all coming close.But despite the roar of their fans, who vastly outnumbered Slovakia's in the St Etienne stadium known locally as the cauldron, they could not find a way through the Slovak defence.strong>SELECTION GAMBLE</strongHodgson took a major gamble by revamping the side that beat Wales 2-1 last Thursday, including resting captain Wayne Rooney, and saw his team make a bright start.Vardy posed a constant threat in the first half and full back Clyne, replacing Kyle Walker, regularly troubled the Slovak defence with probing runs down the right wing.Vardy fired just over the bar in the opening minutes, and then flicked on a header that set up a chance for strike partner Daniel Sturridge.Soon after, Vardy outsprinted fullback Martin Skrtel, running onto a long ball inside the penalty area but firing his shot straight at keeper Kozacik.In one of England's best moves, a pass from Clyne set up Lallana for a stinging shot that forced a diving two-handed save from Kozacik.For Slovakia, Viktor Pecovsky shot harmlessly over the bar, and Marek Hamsik wriggled clear of centre-half Gary Cahill and fired across the face of goal.With Wales leading Russia at halftime, England came out for the second half knowing they needed to score in their quest to finish top.They had one anxious moment in particular when a mix-up between goalkeeper Joe Hart and defender Chris Smalling nearly let in Robert Mak, but otherwise they continued to put Slovakia under pressure.Clyne's shot from a narrow angle bounced off the keeper's shoulder and Alli, with his first touch after coming off the bench, forced a goal line clearance from Skrtel.With Prince William, among the crowd, grimacing and holding his head at a series of near-misses, England kept pushing for a goal but to no avail.Hodgson now faces a potentially tougher route in the competition with France, Germany and Italy all in the same half of the draw.He also has a selection dilemma, especially after Clyne had an outstanding match in place of Walker, who excelled against Russia and Wales. Three games into the tournament, the England boss may still be searching for his best team.
strong>Wales enjoyed their greatest day in football for more than half a century by overwhelming Russia 3-0 on Monday to win Group B at Euro 2016 ahead of their oldest rivals England.</strongIt was an outcome that had seemed unlikely when England beat them 2-1 last Thursday, and the thousands of Welsh supporters could have been forgiven for a feeling of disbelief as they celebrated every touch of the ball with "oles" before finally feeling free to chant "we are top of the league".They will play a third-placed team in Paris on Saturday while England face the Group F runners-up and Wales will go into the knockout stage with realistic hopes of reaching the last eight."It was never about beating England, it was about qualifying," Wales manager Chris Coleman told reporters, adding that he had never seen a better performance from a Welsh team.Russia, bottom of the standings with one point, obtained with an undeserved last-minute equaliser against England, go home with much to think about before they host the World Cup in two years time under a new coach.The story of the night, however, was a Welsh one.In what had been described as the country's biggest game since the 1958 World Cup quarter-final, they rediscovered the attacking brio that enabled them to beat Slovakia in the opening game.Gareth Bale, the scorer of a direct free kick in each of the two previous games to equal a European Championship record, was close with several fine efforts before becoming the first player since Milan Baros in 2004 to score in three successive games at the European finals.He was outstanding in running at a Russian defence that allowed far too much space to him and Aaron Ramsey, breaking in support of Sam Vokes, the surprise selection in attack in place of Hal Robson-Kanu.That defence was not helped by a revamped midfield being outplayed by Joe Ledley and the tigerish Joe Allen.Russia survived an early Bale chance but were two goals down inside 20 minutes after strikes by Ramsey, named man of the match, and wing back Neil Taylor.Bale made further chances for Vokes and Ramsey before the latter, Wales' only other regular Champions League player, returned the compliment twice in the second half."We�ve topped the group which nobody probably saw coming," Ramsey said."Our main target was to get out of the group. To finish top is a fantastic feeling.""It's probably the best performance I've been involved in with Wales," Bale added.
 Maria Sharapova�s attorney John Haggerty hit out at World Anti-Doping Agency (WADA) head Craig Reedie for comments he made about the Russian tennis star�s earnings.</strongSpeaking at a WADA symposium in London on Monday, Reedie complained that his organisation�s yearly budget of $30 million (26.5 million euros) was potentially less than Sharapova�s annual earnings.But that brought a furious rebuke from Haggerty."The statement made today by the WADA president is unprofessional," said the attorney in a statement.<br/>"Justice, whether in the eyes of WADA or a court, must be blind, including being blind to a player�s earnings. "Mr. Reedie owes an apology to Maria and to all successful tennis players unless he wants fans to think WADA has different standards for players depending on their ranking and earnings."Sharapova was banned for two years by the International Tennis Federation earlier this month after admitting in March she had taken the banned medication meldonium.The 29-year-old has vowed to contest her ban at the Court of Arbitration for Sport. Reedie said on Monday that WADA was punching above its weight due to its limited budget but suggested that it was a satisfaction to have caught Sharapova despite her potential to earn more than that in a year.<br/>bur-bc
strong>India's Kedar Jadhav blasted his highest score in Twenty20 internationals as they beat Zimbabwe by three runs in a tense finish to claim the three-match series 2-1 at the Harare Sports Club on Wednesday.</strongZimbabwe won the toss and chose to bowl first, restricting the tourists to 138 for six in their 20 overs on a slow wicket as Jadhav top-scored with 58 from 42 balls.But the hosts battled to keep up with the scoring rate and went into the final over of the match, bowled by Barinder Sran (2-31), needing 21 for victory.When the first two balls of the over went for 12 runs a sensational victory looked on the cards, but Sran came back well and bowled Elton Chigumbura (16) off the last delivery of the innings to leave Zimbabwe agonisingly short of a series victory.It was the first time on India's six-match limited overs tour that they batted first and, after starts for Lokesh Rahul (22) and Ambati Rayudu (20), Jadhav provided the impetus the innings desperately needed as he blazed seven fours and a six.India's opening bowlers restricted the run-rate well as Zimbabwe reached 59-2 at the halfway mark of their innings, with Sran going for just 14 in his first three overs and Dhawal Kulkarni ending with figures of 2-23 in his allotted four.Vusi Sibanda (28 from 23 balls) top scored for the hosts as sevral batsmen made starts but could not match Jadhav�s half-century heroics.India also won 3-0 in the one-day international series that preceded the 20-over games.
strong>Hungary and Portugal reached the Euro 2016 knockout stages after a rip-roaring 3-3 draw in which Cristiano Ronaldo netted twice and became the first player to score at four European Championship finals on Wednesday.</strongThe Portuguese came from behind three times as Ronaldo, who also set a tournament record of 17 appearances, finally rediscovered his touch to help Portugal make the last 16, where they will meet Croatia in Lens on Saturday.Group F winners Hungary finished above Iceland, who also qualified after a last-gasp 2-1 win over Austria in Paris, and third-placed Portugal.Hungary will play the Group E runners-up, which will be decided later on Wednesday between Belgium, Sweden and Ireland, while Iceland will face England.Ronaldo equalised twice in the second half after Zoltan Gera's early strike was cancelled out by Nani just before the break. Hungary captain Balazs Dzsudzsak had twice put his side ahead before Ronaldo burst into life with a double strike.
strong>Video footage has emerged of Portugal's Cristiano Ronaldo bringing an impromptu interview to a sudden halt -- by throwing the reporter's microphone into a nearby lake on Wednesday.</strongThe incident happened several hours before Portugal's decisive Euro 2016 Group F clash with Hungary in Lyon with a berth in the tournament's last 16 at stake.The 21-second clip shows Ronaldo, surrounded by security guards, strolling by a lake with his team mates.When the reporter from Portugal's CMTV approaches to ask if he was prepared for the game, Ronaldo grabs the microphone from him with one hand and pitches it into the water.The 31-year-old Real Madrid forward has been under pressure after refusing to shake hands with Iceland's players following Portugal's 1-1 draw in their opening game and missing a penalty in their second group match -- a goalless draw with Austria.Jose Delgado, a correspondent for Portuguese daily A Bola, told Reuters Ronaldo was frustrated by his poor performances."The hours before the game are always difficult for the players and I don't think it's a good idea they mix with journalists because things like this may happen," he said."Ronaldo has been anxious in the last few days because he didn't play well in the opening two games. Let's see what he can do against Hungary and if he can come to his usual level."
strong>Barcelona are not contemplating selling their Brazil forward Neymar, the Spanish champions' financial vice-president Susana Monje said on Wednesday.</strongNeymar, who has been in talks over a contract extension with his current deal expiring in June 2018, has been linked in Spanish media with a move to Paris Saint Germain."Neymar's renewal is a sporting issue," Monje told a news conference in which she spoke about the club's importance to the city of Barcelona."We have not studied the impact of hypothetically losing Neymar. We don't contemplate it."El Mundo Deportivo reported on Wednesday that French champions PSG have offered to double Neymar's salary to 30 million euros ($33.86 million) net per season.Neymar has just completed his third year at Barca since joining from Santos. He scored 31 goals in 48 appearances last season to help the club win La Liga and the King's Cup.The 24-year-old Brazil captain did not play at the Copa America in order to rest at Barcelona's request.However, Neymar will compete at the Rio Olympics, which starts in August, as one of the three over-age players allowed in Brazil's under-23 squad.
 India�s Saina Nehwal eschews the "natural talent" tag thrust upon her by Indian media and says only hard graft and good coaching have given her the chance to turn the Olympic badminton bronze she won four years ago in London into gold at the Rio Games.</strong"Whatever I am today, it's because of my coaches," Nehwal told Reuters in an email interview following her victory at the Australian Open last week."They taught me smash, dribble and net game in copybook style and I trained five to six hours daily to master them."I am a worker and my coaches know how to get the best out of me," added the 26-year-old, who became the first Indian shuttler to win an Olympic medal in 2012.While winning a medal in London was celebrated back home in success-starved India, her rise to the top of the world singles rankings in April last year was no less significant.It marked the first time a non-Chinese shuttler sat atop the women's singles rankings since Dane Tine Baun in late 2010.Nehwal, who will be 30 by the time the 2020 Olympics come around in Tokyo, believes Rio is her best chance of gold."For 2020?, it depends on my progress and health conditions. Rio is an ideal place to showcase my game," she said."You can't predict results. You need hard work and God's blessing, apart from support from the fraternity," the world number six said.Rio will mark a third Olympics for Nehwal, who is hitting a rich vein of form at exactly the right time.Her second Australian Open title saw her beat world champions Ratchanok Intanon (2013) and Wang Yihan (2011) before overpowering China�s Sun Yu in the final in Sydney."It is wonderful to win Australian Open prior to the Olympics. It is very satisfying to beat two world champions and a junior world champion (Malaysian Goh Jin Wei) in one tournament," she said.It was a welcome win for Nehwal, who had failed to reach a World Superseries final since last November in China and was returning from an Achilles injury she sustained at the end of last year."The injury was a big jolt to me ... I missed South Asian Games, Indian Grand Prix and the (badminton) Asian team championship."It was mid-May when I felt I was good enough to play tournament. It was a horror, looking at my condition those three months."�
 Mohammad Amir is part of the Pakistan family and will always have the support of his team mates as he prepares to return to Lord's six years after the scandal that derailed his career, fast bowler Wahab Riaz has said.</strongThe paceman spent time in jail and served a five-year ban for spot-fixing after admitting he had deliberately bowled no-balls at predetermined times in the fourth test against England at the fabled London venue in 2010.Then 18, Amir was rated among the world's most exciting fast bowlers before the high-profile incident stalled his progress and resulted in similar penalties for fellow accused parties, former test captain Salman Butt and fast bowler Mohammad Asif.The 24-year-old has now returned to the Pakistan setup and the left-arm paceman will be firmly in the spotlight should he be selected for the first test of the four-match series starting at Lord's on July 14."Obviously he has struggled a lot," Wahab told ESPNcricinfo. "He has learned a lot of things in the past five years, he has become more strong and he wants to answer everyone with his performances, and that's what he's really looking for.Amir's return to the national side was initially resented by some of his team mates but the paceman has enjoyed steady and growing support from the Pakistan Cricket Board (PCB).strong>LIKE A BROTHER</strong"As a team, as a squad of 17 plus our team management, all of us are going to support Mohammad Amir," Wahab added. "We are all behind him, we are all supporting him, whenever he needs us, however he needs us, we will be around him all the time."So he is not the one who is being left alone, he is a part of our family. He is the youngest part of our family, so he is like a kid to us, he's like a brother to us, a son to most of our senior players."We are always here for him, we are going to support him, and we will push him up because we know what kind of capability he has in his bowling and how he can perform."The 30-year-old Wahab said Pakistan would try to retain a positive attitude throughout what appears to be a tough series in England."What is in our hands is to go into the ground and have a smile on our faces," Wahab said. "We know what our goal is and we know how to achieve our goal, so we have to do that."We have to enjoy our cricket, we have to laugh all the time, if anyone says anything, a smile can do everything for them."�
 Lionel Messi scored his 55th international goal to become his country's all-time leading scorer as Argentina thrashed hosts the United States 4-0 to ease into the final of the Centenary Copa America on Tuesday.</strongMany of those in the 70,858 crowd in Houston had come to witness the Barcelona star etch his name in the history books and he did not disappoint, curling a sensational free kick past Brad Guzan after 32 minutes to put Argentina 2-0 ahead.Messi had been chopped down by Chris Wondolowski 25 yards from goal as he burst forward and the ensuing strike moved him clear of previous record holder Gabriel Batistuta's 54 goal tally."I am happy to have surpassed Batistuta's record and I want to thank my team mates, it's theirs as well," Messi, who turns 29 on Friday, told reporters.The win, meanwhile, advanced Argentina into Sunday's final against either Colombia or reigning champions Chile, who meet in Chicago on Wednesday."We needed to get back in a final but we can never get ahead of ourselves," Argentine coach Gerardo Martino assed. "We've always taken it one game at a time.""We are pleased with our general production (so far)."Martino started Ezequiel Lavezzi up front in place of the injured Angel Di Maria and it took the China-based winger just three minutes to make his mark when he got on the end of a Messi chip to head over a stranded Guzan.strong>GULF IN CLASS</strongArgentina dominated the first half and Messi's goal was just reward for their superiority but if the home side thought they could stage a second-half fightback, they were sadly mistaken.U.S. coach Jurgen Klinsmann made two changes at the break but Napoli striker Gonzalo Higuain scored a third goal four minutes into the second period when he beat Guzan at the second time of asking after the keeper had saved his initial shot.The U.S. enjoyed more possession as the match progressed but never managed a shot on goal for the entire game as Argentina exposed the gulf in class between the very best South American and North American sides.Messi, who captained the side in his 112th international, almost grabbed a second eight minutes from time but Guzan turned his shot around the post for a corner.However, the mercurial forward was on hand to have a say in the fourth goal, when his pinpoint pass set up Higuain to complete the rout with a simple tap in after 85 minutes.The result means Argentina have scored 18 goals in five games and conceded just two as they power toward what they hope will be their 15th Copa America title, and first since 1993, to take them level with all-time leader Uruguay.The win would also cap Messi's international career after years of disappointment. Argentina reached the finals of their last two tournaments, the Copa America in 2015, and the World Cup in 2014, but were narrowly beaten in both. "When you concede a goal after three minutes against such a team... that's when you've already lost your mental battle," Klinsmann lamented. "Once they have a lead they're not giving that lead away."It's a special team Argentina," he added. "You saw tonight why they are the number one team in the world. I told the guys there's nothing to be ashamed of."
 England's Liam Plunkett smashed the last ball of the match for six to earn his team a dramatic tie with Sri Lanka in the first one-day international in Nottingham on Tuesday.</strongThe hosts, chasing 287 for victory, collapsed to 82 for six before Jos Buttler made 93 and Chris Woakes 95 not out to give England a chance of winning the game at Trent Bridge.They needed 10 off the last two balls and Woakes scrambled three before Plunkett launched Nuwan Pradeep over long-off to tie the match."It was nice to get that one out. Woakesey and Jos put us in a great position and we were backing ourselves to take it as deep as possible," Plunkett told the BBC."It just shows the depth we have got. It's good for the team - you know you can carry on all the way through an innings."Sri Lanka, put into bat, were indebted to a good innings of 73 by their captain Angelo Mathews as they posted a decent total of 286 for nine.Seekkuge Prasanna also struck a quickfire 59 off 28 deliveries, including four sixes and eight fours.England collapsed at the start of their reply, losing Jason Roy, Alex Hales, Joe Root and Jonny Bairstow with only 30 runs on the board.Captain Eoin Morgan steadied the ship with 43 but his team were still in deep trouble when Woakes and Buttler came together.They added 138 for the seventh wicket and Plunkett's unbeaten 22 off 11 deliveries carried England to only their eighth tie in 665 one-day internationals."I thought we had the game in the bag for most of the overs. Unfortunately the yorker fell just off line and went for a six," Sri Lanka captain Mathews said."We fell short by 15, 20 runs. It was a brilliant wicket to bat on but we had to be satisfied with 286. We just kept losing wickets at crucial times."England won the recent test series between the teams 2-0. The next game in the five-match one-day series is in Birmingham on Friday.
 Heather Knight had a dream first match as England women�s captain starring with both bat and ball in a seven-wicket win over Pakistan in Leicester on Tuesday.Knight, who replaced Charlotte Edwards after the long-serving batsman was effectively forced into retirement by England women�s coach Mark Robinson, took five for 26 with her off-spin and then struck an unbeaten 50 as her side cantered to victory with 18.1 overs to spare.It is the first time in 50-over international women's cricket that a player has scored a half-century and taken five wickets in the same match.Chasing 166 to win at the Fischer County Ground in a match originally scheduled for Monday but delayed because of a waterlogged outfield, England cantered home by seven wickets after Kent opener Tammy Beaumont made an international career-best score of 70.She was caught at mid-on in a miscued attempt to hit Asmavia Iqbal's medium pace over midwicket, her only real scare came when she was almost run out on 49, sent back by Knight after setting off for a single.Her partnership with Knight added 96 in 20 overs for the third wicket as England enjoyed the best batting conditions of the day. Nat Sciver then joined Knight, hitting 27 of the 37 more required at the fall of Beaumont's wicket but contriving to allow Knight to complete her half-century before securing the winning single off Iqbal.There was a nervous moment at the start of England's chase when opener Lauren Winfield was caught at slip off the first ball but though Pakistan's captain, the offspinner Sana Mir, bowled Georgia Elwiss for 12, at 53 for 2 from 10 overs England were already on target for a comfortable win.Pakistan�s 165 all out was built around opener Sidra Ameen�s 52 but none of her team-mates could offer much in the way of support with the bat.It was a day to remember, too, for strike bowler Katherine Brunt, who became only the fourth England player to take 100 ODI wickets.Pakistan's score was their highest in five one-day internationals against England but would have been regarded as disappointing given the platform provided by opener Sidra�s maiden ODI half-century.The 24-year-old right-hander from Lahore had made more than half her side's runs off the bat when she was fifth out at 106 in the 32nd over but support was lacking from Pakistan's top and middle order and had it not been for a late show of aggression from Sidra Nawaz and Iqbal then England's task would have been even more straightforward.Asked for bat first on a surface that was predictably sluggish after the wet weather that forced this match to be played in its entirety on the designated reserve day, Pakistan struggled to build early momentum.They crawled to 29 for 1 after 10 overs, the wicket that fell being the one that mattered in particular to Brunt, when Javeria Wadood, tempted by some width, edged the first ball of her fourth over and Amy Jones, keeping wicket for England for the first time in almost two-and-a-half years, held the catch.The result means England move into the top four places in the ICC Women's Championship. If they can maintain that position with eight matches to play they will qualify automatically for the 2017 Women's World Cup, of which they are hosts.England have now won all five of their ODIs against Pakistan and will look to go 2-0 up in three-match series when the teams meet again at Worcester on Wednesday.
 Turkey snatched a Euro 2016 lifeline with a 2-0 victory over Czech Republic on Tuesday that secured third place in Group D and left them waiting to see if they had done enough to reach the last 16.</strongAfter defeats to Croatia and Spain in their first two games, goals by Burak Yilmaz and Ozan Tufan gave the rejuvenated Turks hope, although they need results to go their way when the group stage concludes on Wednesday.Should they go through, Turkey will face either Wales in Paris or hosts France in Lyon.<br/>The Czechs, however, will definitely go home, having finished bottom of the group with one point from three matches.The Turks opened the scoring in the 10th minute when Arda Turan sent Emre Mor scampering away down the right before he crossed for Burak Yilmaz, who ghosted in to send a simple first-time shot from close range flying past Petr Cech.The Czechs almost levelled soon afterwards when Borek Dockal headed against the foot of the post and Tomas Necid could not reach the rebound, before the latter awkwardly volleyed another good chance over 10 minutes later.Although Turkey looked a lot more resilient than they had in their opening two games, they were on the back foot for much of the first half and the Czechs had plenty of chances to score.Full back Pavel Kaderabek missed two great opportunities, firing a shot that Turkey keeper Volkan Babacan saved with his foot before the defender blazed wide following a slick attack down the right.Babacan also pushed a stinging shot from Jaroslav Plasil wide as the Czechs started to find some space on the flanks.Turkey came out all guns blazing in the second half and Emre Mor could have put them two up as he picked up a long ball and drifted in from the right before clipping a shot just over.Yet seconds later Babacan had to make another smart save at the other end from Vladimir Darida.<br/>Moments after Turkey were raging at an offside call that went against them, Ozan Tufan sent thousands of Turkish fans into ecstasy as Mehmet Topal teed him up to smash an unstoppable shot into the topcorner from a tight angle.The goal was greeted by a half-dozen flares lighting up the Turkish end of the ground, with some being thrown onto the pitch during the ear-splitting celebrations.Their spirits lifted by the goal, the Turks battled for every ball in a superb defensive effort, never letting the Czechs settle as they weathered the storm to hold on for a precious victory.
 Croatia pipped Spain to first place in Group D at Euro 2016 after Ivan Perisic struck a late winner in a 2-1 victory on Tuesday.</strongCroatia goalkeeper Danijel Subasic saved a second-half penalty from Sergio Ramos after Nikola Kalinic had cancelled out Alvaro Morata�s early opener on the stroke of half-time.Turkey must wait to see if they qualify after beating the Czech Republic 2-0 in Lens. Burak Yilmaz volleyed Turkey into a 10th-minute lead in Lens with Ozan Tufan lashing home a second on 65 minutes to give Turkey their first points of the tournament.Turkey�s victory ensured that Northern Ireland, who lost 1-0 to Germany earlier, go through to the knockout phase as one of the four best third-place teams.
 Indian cricket board BCCI has appointed former captain Anil Kumble as new cricket team coach on Thursday.</strongHis name was recommended by cricket advisory committee members Sourav Ganguly, Sachin Tendulkar and VVS Laxman.According to the Indian media he will take over the role for a period of one year.Indian cricket board had received 57 applications for the post and narrowed it down to 21 before handing over the list to cricket advisory committee that interviewed the candidates shortlisted by them. Among them were Ravi Shastri, Lalchand Rajput, Pravin Amre, Anil Kumble, Tom Moody, Stuart Law and Andy Moles.Initially the members sought more time to confer but that timeline was pushed back to Thursday and at a press conference, Kumble was handed over the reigns of the team.
strong>Leicester City striker Jamie Vardy has signed a four-year contract extension with the Premier League champions, seemingly ending speculation about a move.</strong><br/><br/>Vardy, who scored 24 goals in Leicester�s remarkable run to the title, had been linked with a move to Arsenal.<br/>"Leicester City have today agreed with the representatives of Jamie Vardy to extend the England international�s contract with the Premier League champions for a further four years," the club said in a statement.<br/><br/>"Both parties hope that this announcement will end recent speculation regarding Jamie�s future and confirm his long term commitment to Leicester City Football Club.<br/><br/>"Vardy is currently part of England�s Euro 2016 squad and scored an equaliser in his country�s 2-1 victory over Wales.
 Pakistan Cricket Board (PCB) is most likely to appoint former Chief Selector Haroon Rasheed as the new Director of Cricket Operations at the end of this month.</strongHaroon was discharged from the responsibilities of chief selector when PCB dissolved the selection committee after the national team s poor performance in the Asia Cup and the WorldTwenty20.Haroon has worked in PCB at different positions including that of chief selector manager coach and Director game development.Talking to APP a PCB official said that Haroon is a top candidate for the post of Director of Cricket Operations as he is liked by many senior officials in the board.He said the board had given advertisement for the hiring of Director Cricket Operations and its condition includes having 10years or more working experience in top cricket positions.Haroon meets all the conditions that are required for the position he said adding he himself is also very eager to get a role again in the board.He said recently in a meeting Haroon�s name was prominently mentioned when the appointment of Director Cricket operations came up.Majority of the members want Haroon to be named as the new Director Cricket operations, he said.
 India�s "Magnificent" Mary Kom said Thursday she was heartbroken after failing to gain a wildcard for the Rio Olympics, but the five-time world champion stressed she wasn�t about to quit boxing.</strongKom, 33, failed to qualify after losing a crucial bout at the Women�s World Boxing Championships in Kazakhstan last month, raising speculation about her future.The 2012 Olympic bronze medallist had been pinning her hopes on a last-ditch plea for a wildcard spot, but the International Olympic Committee has now turned down her request."I have been duly informed that I won�t be getting a wildcard. It is heartbreaking," Kom was quoted saying by the Press Trust of India (PTI) news agency."I have to accept this decision but I am not quitting the sport right now. I will continue to compete (while) I am feeling fit and for the time being I think I am fit," added Kom.Kom, a household name in India and the subject of a Bollywood film in 2014, always faced an uphill battle to secure a spot. Only one wildcard entry was on offer for each of the three women�s boxing categories in Rio in August."The IOC has ruled that the (wildcard) will be given only to countries which have had less than eight participants in last two Olympics, and India had eight boxers in London," Kishen Narsi, chairman of India�s ad hoc boxing committee, told AFP."They had taken the call in the previous meeting that they will stick to the rule of any country with less than eight participants in any sport. So it�s a call that they have taken and we have to fall in line," said Narsi.Despite her disappointment, Kom, a mother-of-three who hails from a poor family in the neglected and remote state of Manipur, insisted "the future is good"."I am aware that retirement is something that would be talked about a lot, but for the time being I have dropped the idea," said Kom, dubbed �Magnificent Mary� after she won her fifth world championship title in 2010."Of course I would be spending more time at my academy training young kids but I will continue to devote as much time to my training as well."
strong>Zlatan Ibrahimovic's international career ended in a damp squib when Sweden lost 1-0 to Belgium in their final Euro 2016 Group E match on Wednesday and failed to reach the last 16.</strongRadja Nainggolan's fine shot after 84 minutes sent Belgium into the knockout stages and a game against Hungary as they finished second in the standings, level on six points with group winners Italy.The Swedes ended bottom on one point and Ibrahimovic's bold promise that he would never finish with a disappointment proved to be mistaken.He tried in vain to inspire his team and had a second-half effort ruled out for offside but Belgium, without ever producing their most fluent football, had enough quality to deal with Sweden's sporadic attacks and create opportunities of their own."Zlatan has done a lot of important things in his career and would have wanted to go further here," Belgium captain and man-of-the-match Eden Hazard told reporters."It was a difficult match, complicated for our defenders. In the first half we had some possession and created chances. Nainggolan scored an important goal and from then on we had to manage the game."Sweden started brightly and Marcus Berg's fierce snap shot was parried away by Belgium goalkeeper Thibaut Courtois.Belgium responded with a surging run by midfielder Kevin de Bruyne that set up Romelu Lukaku for a shot just wide and a mazy dribble across the edge of the area by Hazard ended with a De Bruyne strike on goal.Ibrahimovic sprung into life with a shot just past the post but it was a rare attacking foray by Sweden who were pushed back deep by the strong-running Belgian midfield.De Bruyne whipped in two dangerous crosses from the left and from one of them Thomas Meunier flashed a header narrowly wide just before halftime.Sweden enjoyed a good spell of possession after the interval and Ibrahimovic hooked the ball into the net from close range but the effort was ruled out for offside.De Bruyne tested goalkeeper Andreas Isaksson with a fierce long-range strike and after Sweden cleared another dangerous cross the ball fell to midfielder Nainggolan whose rasping 20-metre shot flew into the top corner of the net.Ibrahimovic threw the ball away in frustration as the Belgian players celebrated and Sweden's talismanic captain cut a forlorn figure after the final whistle as he slowly walked over to applaud his team's yellow-clad fans."I�m very disappointed," Sweden coach Erik Hamren said."We were talking before the game about the honour of representing Sweden and of being here but I couldn�t have asked for much more from my players. I�m proud of them, even though we lost."
strong>Chile beat Colombia 2-0 in the Copa America semi-final on Wednesday and will face Argentina in Sunday's final after surviving a tumultuous match in Chicago that was halted for more than two hours due to a torrential rain storm.</strongChile were already two goals up at half time but the second half was delayed as an electrical storm powered towards Soldier Field and drenched the stadium with rain.The teams came back to a waterlogged pitch and Colombia, who had a man sent off early in the second period, could not reduce the deficit."We played well but Chile are a very strong side," Colombian midfielder Juan Cuadrado said after the final whistle."We thought a comeback was possible but sometimes things don't work out like you want."The result takes Chile into a mouth-watering final against Argentina in New Jersey on Sunday. The game will be a repeat of last year's final in Santiago that the host nation won on penalties.The reigning champions came into the game on a high after beating Mexico 7-0 and took only six minutes to make their mark again.Former Chelsea midfielder Cuadrado misdirected a header across his own goal straight to Charles Aranguiz and the Leverkusen midfielder had the straightforward task of sidefooting past David Ospina.Chile doubled their lead four minutes later after an Alexis Sanchez shot rebounded off the post into the path of Jose Pedro Fuenzalida.With Ospina beaten, the Universidad Catolica full back scored one of the easiest goals of his career by sidefooting into the empty net.Chile, who were already missing midfielders Arturo Vidal and Marcelo Diaz, lost Pedro Pablo Hernandez after half an hour when he limped off injured and the resulting reshuffle took the wind out of their sails.Colombia came back into the game, with James Rodriguez coming close with two shots and creating chances for Roger Martinez and Edwin Carmona.However, Claudio Bravo was in fine form and it stayed 2-0 at the break.Colombia pushed on after the restart with a lively Rodriguez leading the attack but were dealt a huge blow in the 56th minute when influential midfielder Carlos Sanchez was sent off for a second yellow card offence.Colombia did not give up and came close on several occasions but conditions underfoot were difficult for both sides and the score remained 2-0.The Andean side will now play hosts United States in the third-fourth place playoff on Saturday.Argentina beat the United States 4-0 on Tuesday night to reach their second consecutive Copa America final.
strong>England captain Wayne Rooney has set his sights on winning the European Championship, buoyed by the belief that the gap between his team and Europe's continental footballing elite has narrowed considerably in the past few years.</strongMonday's 0-0 draw with Slovakia ensured that England finished second in Group B behind Wales, potentially complicating their route to the final as they are now in the same side of the draw as World Cup winners Germany, defending European champions Spain and hosts France.English FA chairman Greg Dyke had said before the tournament that making the semi-finals or being eliminated at the quarter-final stage by "a good team" would be considered a success, but Rooney has set his sights considerably higher."We are here and we want to win it," England's all-time leading goalscorer told reporters."Whether it happens remains to be seen, but we're not going to say that getting to the quarter finals will be a sign of progress. I believe we are better than that."England have not got past the quarter-finals in their last three European Championships and failed to make it out of the group stage at the World Cup in 2014, but Rooney sees cause for optimism this time round."If this was four years ago and you were saying you have to play France, Spain and Germany you would have been worried," he added."I think the gap has changed, and not just with ourselves, but with the likes of Wales. The gap to get to those teams is not as big."Manager Roy Hodgson's men are aiming for their first major international title since the 1966 World Cup, but will have to find a way past an inspired Iceland in the round of 16 game on Monday. They could face France for a spot in the last four.Hodgson took six strikers to France, but his team have struggled to turn dominance into goals, scoring three times in three group games and winning only one.Despite the team's struggles in the final third, Rooney, who has been pulling the strings from a deeper midfield position, said the talent in the side meant he felt less pressure to deliver."I have always gone into a tournament thinking if I don't play at my best I cannot see us winning it," said the player who burst on to the international stage as an 18-year old with four goals at Euro 2004.Rooney has since failed to make a telling impact at the continental championship and though he is yet to open his account in France, he is pleased that the England squad have the talent to ease the burden of expectation on his shoulders."I have come into this tournament and we have several players capable of doing magical things. We have five or six match winners in our team and I cannot say we have always had that," he said.
 Pakistan Judo Federation (PJF) is likely to send judoka Shah Hussain Shah to Iran and Spain for training prior to the Rio Olympics 2016.According to a PJF official, Shah Hussain qualified for the Rio Olympics under�100kg weight category.As per the International Judo Federation (IJF), it was confirmed that Shah Hussain has sealed a place for the Rio Olympics under the continental quota, he said.He said Shah�s performance had been outstanding in his recent outings in Olympic qualifiers that saw him earn 243 valuable ranking points.Shah has also created history as he is the first Pakistani judoka to ever qualify for the Olympics, he said.In Rio, Shah Hussain will be looking to emulate his father Hussain Shah�s feats at the 1988 Olympics, who won bronze in boxing during the Seoul Games and is one of only two individual Olympic medallists for the country.Shah also won a gold in South Asian Games held in Shillong, India in February this year.�Shah is country�s only hope. We are considering sending him to Iran, Spain or some other country for training ahead of the Olympics.�We will try our best to provide him all necessary facilities to help him make a podium finish. That would be a great accomplishment,� he said.�
 Sri Lanka were left sweating on the fitness of captain Angelo Mathews for the second one-day international against England after the all�rounder was rated 70 percent following Thursday s practice session.Friday�s match at Edgbaston is a day night clash, starting at 1300 GMT so the tourists do have a little extra time in which key all�rounder Mathews can demonstrate he has recovered fully from a hamstring strain.The injury meant Mathews was off the field when England tailender Liam Plunkett struck the last ball of the match for six to seal a spectacular tie in Tuesday�s opening contest of a five�match series at Trent Bridge.By that stage, Mathews had already underlined his worth to Sri Lanka by top�scoring with 73 in a total of 286 for nine and then taking two early wickets with his medium pace as England collapsed to 30 for four and 82 for six.If he is sidelined on Friday, off-�spinner Suraj Randiv is likely to come into the team with wicket�keeper Dinesh Chandimal taking over as captain.Mathews took no part in the squad s full practice session at Edgbaston in Birmingham central England on Thursday but did some stretching before being able to run at an estimated 70 percent by a team spokesman and then putting his pads on to face a tennis ball on the outfield.Earlier opener Danushka Gunathilaka emphasised Mathews s importance to Sri Lanka by saying He s the key man in the middle order for us and he played a brilliant knock (at Trent Bridge).He�s very important for our next four matches and we hope he will get well soon and play the next one.Gunathilaka set to win his 10th ODI cap on Friday said Mathews s advice had been helpful in his fledgling international career.He gave me a lot of confidence � that�s been really helpful to me he said.Gunathilaka managed only nine at Nottingham�s Trent Bridge on Tuesday before being caught behind off left�arm paceman David Willey.
 A force to be reckoned with at home, India's test side have struggled away from the subcontinent in recent years and new skipper Anil Kumble has put top priority on building a team that can travel with confidence.</strongKumble, India's most successful bowler, was given a one-year term as head coach on Thursday with the country's cricket board (BCCI) putting their faith in the 45-year-old despite his lack of coaching experience.The BCCI received 57 applications for the job, which were then made available to an advisory panel that included former captains Sachin Tendulkar and Sourav Ganguly and former batsman VVS Laxman -- all of whom have played with Kumble.Kumble's coaching experience has been limited to being a mentor to the Mumbai and Bangalore teams in the Indian Premier League T20 tournament, and he said his first job interview was a "nerve-racking" experience."It was very different because this was the first (job) interview that I was attending," Kumble said. "My colleagues who I have played with throughout my career were on the other side of the table."It was very strange. It was quite nerve-racking."While the Indian team under Virat Kohli won test series in Sri Lanka and beat South Africa 3-0 at home, their record outside the subcontinent in the longest format has been poor.They have lost test series in South Africa, New Zealand, England and Australia on tours since late 2013, something Kumble wants to rectify."The focus will be on our overseas record," Kumble told the board's website (www.bcci.tv). "The mindset ... I believe we need to start looking to address that from home itself."So when we sit down we will look to make a plan and ensure that we train towards achieving those goals."The Indian test team will have a camp in Bengaluru before heading to the Caribbean for a four-test series against West Indies, which will be Kumble's first assignment."It's nice to have a camp in Bengaluru. We will sit down and iron out our plans and be ready for West Indies," said the former leg-spinner, who took 619 wickets in 132 tests and 337 from 271 one-day internationals."Getting 20 wickets in test cricket will win you matches and that will be the focus," he said, adding that he wanted to work in the background and take the pressure off his captain's shoulders, both on an off the field."I believe this team has the potential. It's a young team and it's driven by a young leader and it will be nice to work with Virat (Kohli)."India are set for a bumper season at home with 13 test matches, eight ODIs and three T20 internationals.They start with three tests against New Zealand in October while England and Australia will play five and four matches respectively. Bangladesh will play a one-off test.
 Having squeezed into the Euro 2016 knockout stages after three contrasting group stage draws, Portugal are ready to move up a gear when they face Croatia in their mouth-watering last-16 clash in Lens on Saturday, coach Fernando Santos said.</strongWhile the Croatians romped into the tournament's business end with a 2-1 win over holders Spain, the Portuguese came from behind three times in Wednesday's rip-roaring 3-3 draw against Hungary at Parc OL.Their talismanic forward Cristiano Ronaldo, subdued in the 1-1 tie with Iceland and a goalless stalemate against Austria, rediscovered his scoring touch with two fine second-half goals which saved Portugal from an early exit.Santos was confident that Ronaldo, who became the first player to score in four European championships, would thrive as Portugal aim to win "a series of finals" on the road to what would be their maiden title."Ronaldo is a scorer and a winner, he plays up front and feeds on goals," Santos said after the Real Madrid hitman was voted man of the match against the Hungarians."I am sure this performance will boost his confidence in our bid to win the competition."Everything is different now because every game that follows is like a final, there is no room for error. We want to come out on top in all of them and go all the way.""We have to strike the right balance between defence and attack because when we come forward we leave too many gaps at the back, as our group stage results show."The Croatians, who came from behind to beat Spain with a makeshift team, left their coach Ante Cacic spoilt for choice after reserve striker Nikola Kalinic and several other fringe players shone.Kalinic enjoyed a rare start instead of the towering Mario Mandzukic and repaid the faith with a sublime equaliser before Ivan Perisic netted a late winner."We could have done with easier opposition than Portugal in the last 16 but if we play like we did in the group stage, we have a great chance of progressing," Kalinic told a news conference at Croatia's Deauville base."We are one of the best teams here and if our midfield wins the battle in the centre of the pitch, we should win.""This is the present generation's chance of a lifetime and we will only be remembered if we do something big here."
 Head Coach of the Pakistan cricket team, Mickey Arthur, has specifically told the green shirts to work hard on their fitness and fielding, if they are to give a tough time to the English side in July.</strong>�Sources disclosed that the environment is quite friendly and cordial among the players and head coach at the Southampton cricket camp.�Reportedly, Mickey Arthur has told his side that if they were to improve their fitness, the fielding would improve by itself. He also said that it was praiseworthy how the side was focused ahead of a tough series.�Sources also revealed that Mickey Arthur was quite pleased with team Pakistan's implementation on the plan ahead of the series in England.�Pakistan's tour of England commences from July 14, as they face the British side in a four-match Test series and five One Day Internationals. Both sides will also clash in a T-20 encounter.,�This will be Pakistan's first tour of England after their 2010 tour in which the infamous spot-fixing scandal came to light. It will also be interesting to see how Mohommad Amir fares at the English cricket grounds since this will also be his first time after being convicted of being involved in spot-fixing with fellow cricketers Mohommad Asif and Salman Butt.��
strong>Novak Djokovic's vice-like grip on grand slam silverware will be put to the test at Wimbledon next week but such is the world number one's dominance few look capable of loosening it.</strongThe insatiable Serb's stunning level of consistency has left his rivals running out of ideas at how to stop him and made real the possibility that the 29-year-old could even threaten Roger Federer's record total of 17 grand slam titles.In Paris earlier this month he became the first player since Jim Courier in 1992 to win the year's first two majors -- swatting away chief rival Andy Murray in ruthless fashion.It also completed his career slam, took him to equal fourth on the all-time list with 12 majors and means he holds all four of the game's most cherished trophies at the same time.What is more he has not lost at Wimbledon since Murray beat him in the 2013 final and has has appeared in eight of the last nine title matches in the slams, winning six of them."Everyone is chasing Djokovic, there's no question about it," three-times Wimbledon winner John McEnroe said this week looking ahead to Djokovic's attempted defence of the crown."At the majors, if you look at his records, he's approaching Roger's records, which would seem insurmountable. It's amazing."With seven-times Wimbledon champion Federer finally starting to succumb to injuries at the age of 34, he missed the French Open after 65 consecutive majors, his chances of snatching back the trophy from Djokovic seem to be receding.Although writing him off a year after his mesmerising semi-final defeat of Murray would be foolhardy.Rafael Nadal is missing with a wrist injury, which leaves Murray as the main threat, especially now he has Ivan Lendl back in his coaching corner -- the man who guided the Scot to his two victories in grand slam finals, both against Djokovic.World number two Murray warmed up with a fifth title at Queen's Club where he beat Canada's Milos Raonic in the final.McEnroe, who is working with men's sixth seed Raonic at Wimbledon got a close-hand view of Murray at Queen's and was impressed with what he saw."Murray is playing great. He's obviously put himself in position numerous times," McEnroe said. "But at the moment there's no question that the level that Novak is at is something that you rarely, if ever, see."With McEnroe in Raonic's box, eight-times major champion Lendl working with Murray again, Boris Becker plotting for Djokovic and now Richard Krajicek fine-tuning Stan Wawrinka's grasscourt game, the battle of the super-coaches looks like being as compelling as the on-court action.Wawrinka, seeded four at Wimbledon, has never been past the quarter-finals at the All England Club, but has proved previously that he can beat Djokovic -- as has Japan's Kei Nishikori who will be seeded five.While Djokovic stands in a league of his own and Murray is positioned ahead of the pack, there are signs that a new generation could soon be breaking up the status quo.Austrian Dominic Thiem, a French Open semi-finalist and winner on grass in Stuttgart where he beat Federer recently, will be seeded eighth while Australian Nick Kyrgios, quarter-finalist two years ago, will be dangerous at 15.Germany's Alex Zverev also beat Federer in Halle last week."Thiem, Zverev, these guys can see light at the end of the tunnel.�It's an exciting time for men's tennis," McEnroe said.
 England captain Wayne Rooney says that he is more relaxed than at any previous major tournament because he no longer feels like the only match-winner in the squad.</strongThe Manchester United skipper will equal David Beckham�s record of 115 caps for an England outfield player when Roy Hodgson�s side tackle minnows Iceland in the Euro 2016 last 16 in Nice on Monday.<br/>With Rooney playing in midfield, the onus is now on strikers like Harry Kane, Jamie Vardy and DanielSturridge to score and, while England have struggled in front of goal, their captain believes that they have more players capable of deciding games than at any time in his 13-year international career."I have always gone into a tournament thinking if I don�t play at my best, I cannot see us winning it," he confided to reporters at England�s Chantilly media centre on Thursday."I have come into this tournament and we have players capable of doing magical things.<br/>"We are different, but we have match-winners. We have five or six match-winners in our team and I cannot say we have always had that."As England embark upon the knockout rounds in France, the spectre of penalties now looms and Rooney revealed that he is going to great lengths in training to ensure that he is ready in the event of a shootout."Whatever corner I am going for, I tell the goalkeeper, so that makes it harder for me," he said.<br/>"If he can�t save it, despite knowing which way I am going, there are no worries for me in taking them."Opposition goalkeepers can meddle with a penalty-taker�s focus, however, as Rooney discovered when he came up against Italy great Gianluigi Buffon in the quarter-finals at Euro 2012.<br/>"I always know which way I�m going and Buffon was actually pointing and telling me he knows I�m going that way," Rooney recalled."He was right, so then I started wondering if I should go the other way."
 Poland beat Switzerland 5-4 in a penalty shootout in the first Euro 2016 last 16 clash on Saturday with new Arsenal star Granit Xhaka missing a crucial kick for the Swiss.</strongThe match ended 1-1 after extra time with Poland winger Jakub Blaszczykowski putting Poland ahead in the first half before Xherdan Shaqiri�s spectacular scissors kick brought the Swiss level in the 82nd minute.Poland now play the winners of the Croatia-Portugal match in the quarter-finals on Thursday.
 England�s all-time leading wicket taker Jimmy Anderson is a doubt for the upcoming Test series with Pakistan, the England and Wales Cricket Board announced on Saturday.</strongThe 33-year-old -- who has 454 Test wickets to his name -- has a shoulder blade injury which he suffered in the third and final Test against Sri Lanka earlier this month.He is definitely going to miss the next two county championship matches with the first Test of the four match series beginning on July 14 at Lord�s."Jimmy Anderson has sustained a stress fracture in the right shoulder blade, which he sustained in the third Test match against Sri Lanka at Lord�s earlier this month," read the statement."Due to the nature of the injury, Jimmy�s availability for the Pakistan Test series, commencing on July 14, will be determined following ongoing management and review by both the ECB and Lancashire�s medical teams."
 Ducati continued their dominance in practice for the Dutch Grand Prix with Andrea Dovizioso posting the fastest time in the third session on Saturday.The Italian headed the time sheets ahead of qualifying for Sunday�s race at Assen in 1min 33.308 with just a tenth of a second splitting the top four.Former world champion Marc Marquez on a Honda was .028s back in second with Suzuki�s Maverick Vinales in third at 0.062.Yamaha star Valentino Rossi, fresh from his second win of the MotoGP season in Barcelona and winner of this race last year, came in fourth.Dovizioso�s Ducati teammate Andrea Iannone, who had dominated Friday�s two sessions, took fifth. The Dutch rider will start at the back of the grid for his home race after his clash with Jorge Lorenzo in Barcelona.Rossi�s teammate and defending world champion Lorenzo took a tumble on his Yamaha early in the session. The Spaniard changed bikes and managed to squeeze into the top ten.
 Chile face Argentina in Sunday's Copa America final for the right to call themselves South America's dominant team but perhaps an even bigger question for football fans the world over regards whether Lionel Messi can finally win a major international title.</strongThe Barcelona forward has won every trophy possible with the Spanish club but he has lost three finals with Argentina, including in 2014 World Cup Final in 2014 and the Copa America last year.Sunday's game against Chile in New Jersey gives Messi a chance to end both his personal hoodoo and that of Argentina, who have not won a major title since lifting the Copa America in Ecuador in 1993."Getting to three finals in a row is impressive," said Messi, whose first decider was a 3-0 loss to Brazil in the 2007 Copa America. "I hope we can win the Cup that we so desire."Argentina lost to Chile on penalties in the final last year and Messi said the squad were better prepared this time around."You learn all the time," said Messi, who turned 29 on Friday."We have been working together for another year, we are stronger as a group and we've really grown in a lot of ways."The five-times world player of the year has been outstanding at the Centenary Copa America, even though he played the first three games as a substitute after injuring his back in a warm-up game.His sublime free kick in the 4-0 win over the United States took him on to 55 goals and above Gabriel Batistuta as Argentina's all-time leading goalscorer.Messi called the performance against the U.S. "perfect" and he will not have forgotten that Argentina beat Chile 2-1 in their opening match on June 6.RED HOT CHILEHowever, the Chileans have improved since, beating Bolivia and Panama before hammering Mexico 7-0 in what was undoubtedly the performance of the tournament.Coach Juan Antonio Pizzi, who replaced Jorge Sampaoli in January, is now settled in the job and he has Chile playing the same high-paced pressing and super-fast counter attacks that make them such an exciting team to watch."This team has created an identity," the Argentine-born Pizzi said after the semi-final."It's a group of winners, I can see that just talking with them. That's not because they win games because we don't win every time but in their heads they are convinced they are going to win. That mentality allows them to grow stronger and gives them the confidence to keep going."Chile will have the dynamic Artur Vidal back after suspension and Pizzi hopes central midfielder Marcelo Diaz will recover from the muscle injury that kept him out the 2-0 win over Colombia in the semi-final.They are on a high and confident that they will do the double over their neighbours.But they will not have their home fans behind them this time and there is one other detail. The last time Messi played at the MetLife stadium was also in June and also against a South American side.Argentina beat Brazil 4-3 in a friendly in 2012. Messi scored a hat-trick.
 An England record opening partnership of 256 between Alex Hales and Jason Roy led their side to a crushing 10-wicket win over Sri Lanka in the second one-day international in Birmingham on Friday.Hales scored 133 not out and Roy an unbeaten 112 in England�s highest first-wicket partnership in one-day cricket and they overhauled Sri Lanka�s 254 for seven with more than 15 overs to spare.It is just the sixth such victory England have achieved in their ODI history and the highest score against which any side has achieved it. It is the fifth time Sri Lanka have been defeated by ten wickets in an ODI.Their stand was not only a record for England's opening pair - overhauling Vikram Solanki and Marcus Tresocthick's 200 partnership against South Africa in 2003 - but the highest for any wicket in ODIs by England batsmen. Previously, Andrew Strauss and Jonathan Trott - who put on 250 together against Bangladesh here in 2010 - held the record.England lead the five-match series 1-0 after the first match in Nottingham was tied.Sri Lanka opted to bat after winning the toss but their total always looked inadequate on a good batting pitch at Edgbaston as England took wickets at regular intervals.Dinesh Chandimal and Angelo Mathews shared a fourth-wicket stand of 82 to give their side a platform.Mathews fell for 44, however, and Chandimal was run out for 52 by Roy who had earlier produced a brilliant piece of fielding to run out Kusal Perera.Upul Tharanga struck an unbeaten 53 to give Sri Lanka hope but England�s bowlers maintained a tight grip throughout, leg-spinner Adil Rasheed the pick of the attack with figures of 2-34 from 10 overs.Hales and man-of-the-match Roy were completely in command against a toothless Sri Lanka attack.Hales smashed six sixes and 10 fours while Roy went to his second one-day international century with his fourth six before driving Seekkuge Prasanna to the cover boundary to seal victory.The third match of the series is in Bristol on Sunday.�
 Darren Bravo�s third hundred and impressive fast bowling from Shannon Gabriel propelled the West Indies to a comprehensive 100-run victory over South Africa in the ninth and final preliminary match of the Tri-Nation One-Day International Series at Kensington Oval in Barbados on Friday.Bravo�s stroke-filled 102 anchored an impressive recovery from 21 for four to lift the West Indies to 285 all out off 49.5 overs batting first.Gabriel, in just his second ODI, then tore through the Proteas� vaunted top-order, taking the wickets of Quinton de Kock, Faf du Plessis and captain A.B. de Villiers in the space of four fearsome overs.It was a setback from which they never recovered, eventually being dismissed for 186 off 46 overs despite a last-wicket partnership of 51 between Morne Morkel and Imran Tahir. Sunil Narine ensured there would be no escape for the South Africans after Gabriel�s early blast, the spinner taking three for 28 off ten overs.With their second win in three matches against the Proteas in the tournament, the hosts advance to face World Cup-holders Australia in the final on Sunday at the same venue. It is also the first time in ten years that South Africa have failed to reach the final of a tri-nation ODI series.Of concern for the West Indies looking ahead to the final though will be the fitness of Gabriel, who left the field nursing a right leg injury after claiming the impressive figures of three for 17 from five overs of extreme pace. He should have also snared the wicket of Hashim Amla but wicketkeeper Denesh Ramdin missed the straightforward opportunity offered by the prolific opener.West Indies were themselves rocked back at 21 for four when pacer Kagiso Rabada led the assault after de Villiers chose to field. However Bravo�s third one-day century, embellished with 12 fours and four sixes off 103 deliveries, proved invaluable. He found an able partner in Kieron Pollard, who curbed his usual all-out aggression in compiling 62 off 71 balls.Their fifth-wicket stand of 156 was a new West Indian record for the wicket against South Africa and wrested the initiative from the visitors who did not help their cause with characteristically untidy cricket in the field, fast-medium bowler Morne Morkel delivering six of the 17 wides conceded by the Proteas.Morkel�s nine overs cost 68 runs yet for all that indiscipline, he should have still claimed the important wicket early on of Bravo who, on 11, top-edged an attempted hook only for Wayne Parnell to misjudge the catch at fine-leg and parry the ball over the boundary rope.Imran Tahir, who routed the West Indies in their last meeting in St Kitts with record-breaking figures of seven for 45, was kept wicketless through his ten overs for the first time in ODI cricket against these opponents.South Africa�s bowling star without doubt was Rabada, whose returns of three for 31 were highlighted by a devastating opening burst after Parnell had removed Andre Fletcher in his opening over.Generating tremendous pace, Rabada induced an edge from the other opener, Johnson Charles, for Chris Morris to take a comfortable catch at second slip. He then uprooted Marlon Samuels� off-stump first ball to have the West Indies tottering at 12 for three.Ramdin avoided the hat-trick but subsequently succumbed to the lethal hostility of the 21-year-old fast bowler, first ducking into a short ball to take a blow on the back of the helmet before being comprehensively bowled off the next delivery.Bravo and Pollard then countered the rampant South Africans with determination and forceful strokeplay before the big-hitting all-rounder was caught at long-on off the suffering Morkel.Morris claimed three wickets at the end of the innings with West Indies captain Jason Holder (40) and Carlos Brathwaite (33 not out) pushing the home side to a challenging final total.
Darren Bravo�s third hundred and a big fifth-wicket partnership with Kieron Pollard rescued the West Indies from complete ruin to a competitive 285 all out against South Africa in the final preliminary match of the tri-nation series at Kensington Oval on Friday.</strongThe winners of this match will face Australia in the final on Sunday at the same venue.Rocked back at 21 for four after pacer Kagiso Rabada led the assault on the top-order, Bravo stroked a masterful 102, embellished with 12 fours and four sixes off 103 deliveries, and found an able partner in Pollard, who curbed his usual all-out aggression in compiling 62 off 71 balls.Their stand of 156 was a new West Indian record for the wicket against South Africa and wrested the initiative from the visitors who did not help their cause with untidy cricket in the field.Getting his first bit of action in the tournament, fast-medium bowler Morne Morkel delivered six of the 17 wides conceded by the Proteas.Morkel�s nine overs cost 68 runs yet for all that indiscipline, he should have still claimed the important wicket early on of Bravo who, on 11, top-edged an attempted hook only for Wayne Parnell to misjudge the catch at fine-leg and parry the ball over the boundary rope.Imran Tahir, who routed the West Indies in their last meeting in St Kitts with record-breaking figures of seven for 45, was kept wicketless through his ten overs for the first time in ODI cricket against these opponents.South Africa�s bowling star without doubt was Rabada, whose return of three for 31 were highlighted by a devastating opening burst after Parnell had removed Andre Fletcher in his opening over.Generating tremendous pace, Rabada induced an edge from the other opener, Johnson Charles, for Chris Morris to take a comfortable catch at second slip.He then uprooted Marlon Samuels� off-stump first ball to have the West Indies tottering at 12 for three.Denesh Ramdin avoided the hat-trick but subsequently succumbed to the lethal hostility of the 21-year-old fast bowler, first ducking into a short ball to take a blow on the back of the helmet before being comprehensively bowled off the next delivery.Bravo and Pollard then countered the rampant South Africans with determination and forceful strokeplay before the big-hitting all-rounder was caught at long-on off the suffering Morkel.Morris claimed three wickets at the end of the innings with West Indies captain Jason Holder (40) and Carlos Brathwaite (33 not out) pushing the home side to a challenging final total.
 On court Novak Djokovic is taking tennis to extraordinary new levels with his single-minded obsession with winning; off it the Serbian is more than happy to share power.</strongThe 29-year-old will begin his attempt to win a fourth Wimbledon title on Monday when he plays British wildcard James Ward on Centre Court -- 12 months after claiming a second successive title by beating Roger Federer.While nothing will distract him from that goal, the dominant Serbian also knows that, however big the gap is between himself and his rivals -- and it is a yawning chasm -- no player is bigger than the sport.At his pre-tournament news conference at Wimbledon on Sunday, the world number one confirmed he had re-joined the 12-man ATP Players' Council, along with chief rival Andy Murray and Murray's brother Jamie, the world's top doubles player.It is a responsibility Djokovic will apply himself to with the same devotion as his career for the next two years as tennis wrestles with the kind of doping and corruption scandals that have afflicted world sport."I've been very flattered and humbled to be elected by my colleagues," Djokovic told reporters."The way I see it is that I managed to gain trust from players, which is very important to me. I have been part of the Player Council for three years earlier in my career.�I've been familiar with the way the system works."I'm hoping I can contribute to the evolution and to the betterment of our sport in every aspect."There is little argument that he has taken tennis to new levels of perfection since losing to Murray in the 2013 final here.Since then he has won six of the 11 grand slam titles on offer, taking his tally to 12 overall.In beating Murray at Roland Garros earlier this month he became the first man in 47 years to hold all four majors.He also won the ATP World Tour Finals in November and will have his eye on Olympic gold in August and probably the Davis Cup too.His immediate focus though is on a smooth opening to his Wimbledon campaign having chosen again not to play any grasscourt tournaments in the run-up."This year is quite different from previous years because I'm coming in with a Roland Garros title," he said."That gives me, obviously, a lot of confidence. I've played a lot of points in the practice sessions these four or five days, trying to be on the grass as much as I can. So I'm really keen on getting on the court."Djokovic, who beat Federer in the last two Wimbledon finals, could face a tough path to a hat-trick.Big-serving Canadian Milos Raonic is a potential quarter-final opponent with Federer possible in the semis.Ward is unlikely to pose too many problems, although Djokovic is well aware that the crowd will be rooting for his opponent when play begins on Monday."It's going to be the first match on the untouched grass," he said. " That's probably one of the most special tennis matches that you get to experience as a tennis player."I'm looking forward to that.�Obviously I know that he doesn't have much to lose."
 Hosts France came from behind to beat 10-man Ireland 2-1 and reach the Euro 2016 quarter-finals after two second-half strikes from forward Antoine Griezmann at Parc OL on Sunday.</strongA tactical switch from coach Didier Deschamps at the break revitalised the French, who struggled to find their feet early on after conceding a Robbie Brady penalty in the second minute, the fastest goal in the 2016 tournament.France will play either England or Iceland at the Stade de France next Sunday."We have difficulties getting into games, we saw that again today, and that's something we have to work on," said Griezmann."Finding ourselves trailing made it difficult but we showed we've got heart. Things were said in the dressing room at halftime and in the second half, it was a different France team."It was the worst possible start for the hosts when midfielder Paul Pogba clumsily barged over Ireland's Shane Long in the penalty area, allowing Brady to dispatch the resulting spot kick to go 1-0 up on the second minute.Finding themselves behind for the first time in the tournament, the hosts seemed to lack the urgency to wrestle control of a stop-start first half.Their best chances fell to Griezmann who headed over the bar from close range, while a late strike by Dimitri Payet whacked into the Irish defence who desperately guarded their goal.strong>SURGING RUN</strongAt the other end, Ireland didn't really threaten apart from a bouncing shot from striker Daryl Murphy that forced keeper Hugo Lloris to dive to his left.A flat first half ended with the French players trudging off to the noise of loud booing from the packed home support.Deschamps switched things up after the break, bringing on flying winger Kingsley Coman for holding midfielder N'Golo Kante and moving playmaker Pogba into the middle and Griezmann into a more central role behind strike partner Olivier Giroud.The strategy paid dividends immediately as France stretched a tiring Ireland. Griezmann equalised in the 58th minute from a Bacary Sagna cross, and then fired his team in front three minutes later when Giroud nodded the ball down into his path.Another surging run from Griezmann saw him chopped down on the edge of the area by Shane Duffy, earning the defender a red card as the game started to look beyond the Irish.All was forgiven by the French crowd, who broke into a deafening 'Marseillaise' and cheered their team all the way to their first knockout stage win in the competition since winning Euro 2000.On a bum note, though, Kante and defender Adil Rami picked up yellow cards and will miss the quarter final through suspension.
 England captain Eoin Morgan won the toss and elected to field against Sri Lanka in the third one-day international at Bristol on Sunday.England made one change from the side that won Friday�s second ODI at Edgbaston by 10 wickets, with pace bowling all-rounder Chris Jordan replacing off-spinner Moeen Ali.That left in-form leg-spinner Adil Rashid as the only specialist slow bowler in England�s XI.This was Jordan�s first match at this level since he featured against South Africa at Centurion in February.Sri Lanka recalled seam-bowling all-rounder Dasun Shanaka in place of off-spinning all-rounder Suraj Randiv.Sri Lanka captain Angelo Mathews, struggling with a hamstring problem, was passed fit to play.Dinesh Chandimal, who suffered a hamstring injury while batting at Edgbaston, was included.But it was uncertain at the toss whether he would also keep wicket, with fellow gloveman Kusal Perera, a top-order batsman, having deputised behind the stumps on Friday.England lead the five-match series 1-0 after Tuesday�s first ODI at Trent Bridge was tied.Teams<br/> England: Alex Hales, Jason Roy, Joe Root, Eoin Morgan (captain), Jonny Bairstow, Jos Buttler (wkt), Chris Woakes, Chris Jordan, David Willey, Adil Rashid, Liam PlunkettSri Lanka: Kusal Perera, Danushka Gunathilaka, Kusal Mendis, Upul Tharanga, Dinesh Chandimal (wkt, Angelo Mathews (captain), Dasun Shanaka, Farveez Maharoof, Seekkuge Prasanna, Nuwan Pradeep, Suranga Lakmal/> <br/> Umpires: Paul Reiffel (AUS), Tim Robinson (ENG), TV umpire: Bruce Oxenford (ENG)<br/> Match referee: David Boon (AUS)
 Keith Thurman put his stamp on the deeply talented welterweight division Saturday, beating challenger Shawn Porter by a unanimous decision to retain his World Boxing Association title.Thurman kept his undefeated record alive and showed he deserves to be regarded as the kingpin of the welterweight division, which is moving on from the retirements of Floyd Mayweather and Manny Pacquiao.The 27-year-old Thurman landed several solid lefts that either wobbled or staggered Porter as he won the close contest at the Barclays Center arena in New York by scores of 115-113 on all three judges scorecards.<br/> "Defense, defense, defense," said Thurman who improved to 27-0 with 22 knockouts.The clash between two Americans was supposed to be held earlier this year, but Thurman was involved in a car crash on a rain-slicked Florida street which pushed the bout back three months.Thurman, who has been on fringes of boxing celebrity, is hoping this is a breakthrough moment for him as the former champion Porter proved to be the biggest test of his career to date.Former IBF welterweight champ Porter lost the first 12-round fight of his career.Porter figured he had done enough to wrestle the title away and some in the crowd agreed with him, booing the scores when they were announced <br/> "I thought I won the fight. But I am satisfied because the competitor came out. We need that rematch," Porter said.Thurman said after the slugfest he is willing to give Porter another chance.<br/> "He�s a great warrior," Thurman said. "But I knew defense would be key.<br/> "I was able to rock him at least once each round with clear effective blows and I believe that was the key to victory."Thurman did most of his damage with his left while Porter had his jab working effectively.Thurman buckled Porter�s knees with a left hook in the fourth round and landed another left on the button in the 10th when Porter walked into a punch./> Thurman suffered a cut over his left eye in the ninth, the first time he has been cut in his career.Porter landed more jabs (59-32), but Thurman threw more power punches (203-177).
 AC Milan striker Carlos Bacca scored the only goal as Colombia defeated the United States 1-0 to clinch third place in the Copa America Centenario here Saturday.Bacca, 29, bundled home the winner on 31 minutes, nudging in from close range to settle a hard-fought contest.The US, beaten 4-0 by Argentina in the semi-finals on Tuesday, rallied desperately to get back into the game but ultimately were frustrated by some superb goalkeeping from David Ospina.It was the second time the US had been beaten by Colombia in this tournament.The Colombians also defeated them 2-0 in the tournament�s opening match.Colombia had gone closest to scoring first, Real Madrid star James Rodriguez being denied by a fine Tim Howard save on 12 minutes.Rodriguez was the architect for Colombia�s goal just after the half hour mark, chipping a wonderful pass into the path of Santiago Arias, who headed across the six yard box for Bacca to score.The US responded gamely to the setback however, with Jermaine Jones almost equalising when his low shot deflected off Arias and just missed the target.Seattle Sounders veteran Clint Dempsey, arguably the best US player of the tournament, had another good game but was unable to add to his Copa tally of three goals and three assists.Dempsey almost laid on a goal for Hamburg�s Bobby Wood, but the Bundesliga-based striker was unable to get his shot away cleanly.Dempsey produced the best American chance of the second half, with his long-range curling free-kick drawing a brilliant save from Ospina, clawing the ball away one-handed as it rocketed towards the top corner.The final of the Copa America takes place on Sunday, with Argentina facing Chile in East Rutherford, New Jersey.
 Ricardo Quaresma�s headed extra-time goal earned Portugal a 1-0 win over Croatia and a place in the quarter-finals of Euro 2016 on Saturday.</strongIn a match which only caught fire in the closing minutes, Croatia�s Ivan Perisic hit a post with a header.Seconds later Cristiano Ronaldo�s shot was saved but pushed into Quaresma�s path by Croatian keeper Danijel Subasic in the 117th minute.
 Wales reached the quarter-finals of the European Championship for the first time with a 1-0 win over Northern Ireland on Saturday as Gareth Bale showed his quality with a teasing cross turned into his own net by Gareth McAuley.</strongWales had hogged possession and spent most of the second half on the front foot but were unable to break down a resilient Irish rearguard until Bale produced the only moment of genuine class in the match after 75 minutes.The Welsh talisman, who had been expertly shackled for the entire encounter, was allowed a few metres of space and took the opportunity with relish, whipping a devilish cross into the box that McAuley could only turn into his own net.It was a cruel blow for the Irish, who had more than held their own in a scruffy encounter but lacked the quality to craft enough chances to trouble a Wales side who will now face Hungary or Belgium in the last eight in Lille on Friday."They were better than us today really," said Wales coach Chris Coleman, whose side reached the last eight of a major tournament for the first time since the 1958 World Cup.
 Giorgio Chiellini and Graziano Pelle scored the goals as Italy exacted revenge for their Euro 2012 final hammering by dumping Spain out of Euro 2016 with a deserved 2-0 last 16 win in Paris on Monday.</strongChiellini forced home the winner from close range after goalkeeper David de Gea could only parry Eder�s fiercely struck free-kick. Pelle volleyed in a deflected cross in injury time to complete Spain�s heartbreak.After crashing out of the World Cup in the first round, Vicente del Bosque�s team have now failed to get to the Euro quarter finals.A series of De Gea saves kept Spain in the game, but their quest for an unprecedented third consecutive Euro title peetered out as Gianluigi Buffon saved from Andres Iniesta and Gerard Pique late on to set up a mouthwatering quarter-final clash with Germany on Saturday in Bordeaux.Spain had lost just one of their previous 11 meetings with Italy, including a 4-0 win in the Euro 2012 final. But the Azzurri were by far the better side in the opening 45 minutes and could have been more than one goal up at the break.De Gea had been much-criticised for his performance as Spain�s 15-game unbeaten in the Euros came to an end on Tuesday with a 2-1 defeat to Croatia which cost them top spot in Group D.However, the Manchester United stopper more than made amends when he turned Pelle�s bullet header wide on eight minutes.Emanuele Giaccherini�s acrobatic effort was then turned onto the post by De Gea, albeit referee Cuneyt Cakir had already blown for a foul as Italy continued to dominate the early exchanges.It took Spain 28 minutes to even have an effort on goal as Iniesta�s weak shot was straight at Buffon.Antonio Conte�s side finally made the breakthrough 12 minutes before half-time when Spain captain Sergio Ramos unncessarily dived in on Pelle to concede a free-kick on the edge of the box.Eder�s powerful effort was parried by De Gea only as far as Giaccherini and he nudged the ball into Chiellini�s path to bundle home.strong>- Saving grace -</strongOnly a De Gea wonder save to tip a fiercely dipping drive from Giaccherini over kept Spain in the game before half-time.Spain coach Vicente del Bosque introduced the more physical presence of 35-year-old striker Aritz Aduriz for Nolito at the break.And it nearly paid dividends straight away as Alvaro Morata -- kept quiet in the first 45 minutes by former Juventus teammates Chiellini, Andrea Barzagli and Leonardo Bonucci -- headed a golden chance straight at Buffon.De Gea was called upon once more to block from Eder when the Brazilian-born Inter Milan forward burst clear on goal with the chance to double Italy�s advantage.Another Italy counter-attack then caused chaos in the Spanish defence as Mattia de Sciglio�s low cross ricocheted around the box before being cleared.Aduriz swept the ball wide and Ramos headed over from a corner as Italy began to settle on their one-goal lead in the final quarter.Iniesta�s rasping volley was tipped over by Buffon, before Pique�s long-range effort stung the palms of the 38-year-old.However, with Aduriz having to be replaced by Pedro Rodriguez due to a head knock, Spain didn�t have a recognised striker in their search for an equaliser in the final 10 minutes.Italy comfortably held on and Pelle doubled the lead with his poacher�s strike in the first minute of injury time.
strong>Factbox on Barcelona and Argentina forward Lionel Messi, who said he was quitting international soccer after Sunday's loss on penalties to Chile in the Copa America Centenario final and failing again to lift a major trophy with his national team.</strongBorn June 24, 1987 in Rosario, Argentina.strong>EARLY CAREER</strong* Joined Barcelona as a 13-year-old in 2000 and shone in the youth ranks before then-coach Frank Rijkaard gave him his senior debut at the age of 16 in a friendly against Porto in 2003.* Made his La Liga debut in October 2004 and scored his first La Liga goal the following May in a match against Albacete at the Nou Camp.* Scored six goals in 17 appearances in 2005-06 as Barca won La Liga for the second year in a row but did not feature in their 2-1 victory over Arsenal in the Champions League final.* Messi played a key role as Barca claimed six trophies in the calendar year of 2009 including the Champions League, La Liga, the King's Cup and the Club World Cup.* Won the first of four consecutive World Player of the Year awards.* Won La Liga again in 2010 and retained the World Player award, beating shortlisted Spanish World Cup winners and Barca team mates Andres Iniesta and Xavi.* Inspired Barcelona to a 3-1 win against Manchester United in the 2011 Champions League final, scoring one goal and creating another.* Helped Barca to a third consecutive La Liga title in 2010-11 and was on the scoresheet as they beat Santos 4-0 to win the Club World Cup.* While Barcelona failed to retain either La Liga or the Champions League, Messi completed 2012 with an extraordinary total of 91 goals in all competitions, a record for a calendar year.* He smashed the La Liga scoring record for one season in 2011-12 with 50 goals.* Equalled the Champions League scoring record of 71 goals set by former Real Madrid and Schalke 04 forward Raul when he struck twice against Ajax Amsterdam at the end of 2014. Has since been overtaken by current Real forward Cristiano Ronaldo.* Turned in a series of scintillating performances in 2014-15 as Barca romped to a treble of Champions League, La Liga and King's Cup titles.* Won his eighth La Liga title and fourth Spanish Cup with Barcelona in 2015-16strong>ARGENTINA</strong* Led Argentina to the title at the 2005 World Youth Championship, scoring two penalties in a 2-1 victory over Nigeria in the final.* Made his debut for the senior side in a friendly against Hungary in August 2005 but was sent off less than a minute after coming on as a substitute for elbowing an opponent who had pulled his shirt.* Played only a bit-part role at the 2006 World Cup. Argentina were knocked out in the quarter-finals by hosts Germany after a penalty shootout.* Led Argentina to the gold medal at the 2008 Beijing Olympic Games.* Part of the Argentina side coached by Diego Maradona at the 2010 World Cup that was beaten 4-0 by Germany in the quarter-finals. Messi failed to score and struggled to find his best form at the tournament in South Africa.* After a season disrupted by injury, captained Argentina to the final of the 2014 World Cup in Brazil, where they lost 1-0 to Germany. Messi, who scored four goals at the finals, won the Golden Ball award for the tournament's best player.* Played his second Copa America final for Argentina in Chile in 2015, losing the final on penalties to the host nation.* Scored a hat trick in 18 minutes after coming off the bench in Argentina's 5-0 win over Panama in the 2016 Centenary Copa America in Chicago.* Set a record of 55 goals for Argentina when he scored in the 4-0 win over the United States in the semi-finals.* Was on the losing side again after a penalty shootout defeat by Chile in the centenary final and said he was retiring from internationals.
strong>A man has been arrested for trying to extinguish the Olympic torch by throwing a bucket of water over it as it passed through his farming town of Maracaju in central Brazil, an officer at the local police station said on Monday.</strongPolice arrested the 27-year-old at the scene on Sunday for damaging public property, the officer said. The Olympic flame continued to burn, video footage showed.The crime can carry a sentence of between six months and three years in prison."He said it was a joke, a dare on Facebook," the officer in the state of Mato Grosso do Sul said by telephone. He declined to give his name as he is not permitted to talk publicly.Local Olympic organizing committee Rio 2016 did not immediately respond to a request for comment.The video, available on YouTube, showed a heavy spray of water thrown indiscriminately over the group around the torch bearer by someone out of view.The man was freed on bail after paying 1,000 reais ($294.74).The incident comes a week after a rare jaguar was shot and killed after performing in an Olympic torch ceremony, leading to an outcry from animal rights activists around the world.The torch is on a 20,000 km (12,400 mile) voyage through about 300 Brazilian cities before arriving in Rio de Janeiro for the Games' opening ceremony on Aug. 5.Although most of the infrastructure for the Olympics is finished, Rio is scrambling to complete construction of a new metro line to help visitors reach the Games' venues.
 Mohammad Amir can still become the best bowler in the world despite serving a five-year ban for spot-fixing, Pakistan captain Misbah-ul-Haq said Monday.</strongLeft-arm fast bowler Amir, 24, is expected to make his return to Test cricket next month against England at Lord�s, �the home of cricket�, where his exciting career came to a shuddering halt in 2010.During that year�s Lord�s Test against England, Amir was caught bowling no-balls to order in a sting operation carried out by a tabloid newspaper.Amir and new-ball partner Mohammad Asif bowled no-balls to order on the instructions of their captain Salman Butt.All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.Amir, who served three months in an English young offenders institute, has only played limited overs internationals for Pakistan, but his career could come full circle when the first of a four-Test series against England starts at Lord�s on July 14.Misbah believes Amir, who was one of the hottest properties in world cricket at the time of his ban, has lost none of his skill"The way he has been bowling, he is there," said Misbah at Hampshire�s Rose Bowl ground near Southampton, where Pakistan were training Monday."You look at his bowling speed, his swing, his control, they�re all there. He can still be the best bowler in the world," he added ahead of Pakistan�s opening three-day tour match against Somerset at Taunton starting Sunday."Whatever form of the game he has played since his comeback, he has done well," said key batman Misbah of Amir, who in his 14 Tests before his ban took 51 wickets at an average of under 30 apiece."He knows he is under pressure but he is handling it well," the Pakistan captain insisted."This is a good chance for him to come here, the place where he had those problems, and show the world he is there to perform and deliver for the team."It is a chance to win back all his fans. It�s a great opportunity and he is working hard."As for Amir receiving a potentially hostile reception from English spectators, Misbah said: "Anything might happen but Amir�s main focus should be on his game."It might happen -- you can always hear voices."The best way is to concentrate on your skills and your duties and Amir has to focus on his game and what he has to do. He is doing well."
 England women team captain Heather Knight won the toss and elected to bat in the third and final One-day International of the series against Pakistan here on Monday.England women have named an unchanged squad �while Pakistan women made two changes, bringing in Nain Abidi and Anam amin in place of Naheeda Khan and Iram javed.England have already sealed the series, winning at Leicester on Tuesday by seven wickets and by 212 runs after a record 378-5 at Worcester a day later.Monday's match is again worth two points in the ICC Women's Championship, in which England are now third.England women squad: H Knight (captain), T Beaumont, K Brunt, K Cross, G Elwiss, J Gunn, A Hartley, D Hazell, A Jones (wkt), L Marsh, N Sciver, A Shrubsole, F Wilson, L Winfield, D Wyatt.Pakistan women squad: Sana Mir (captain), Bismah Maroof, Nain Abidi, Sidra Ameen, Javeria Khan, Sidra Nawaz (wkt), Anam Amin, Nida Dar, Sadia Yousuf, Asmavia Iqbal, Maham Tariq.
 Pakistan team manager Intikhab Alam feels pacer Mohammad Amir is all set to play the first Test match against England at Lords on July 14, saying he is fully prepared for the tour.</strongAmir�s expected return to Test cricket at a ground where he last played in 2010 is a topic that seems to have generated a lot of hype.Understandably the Pakistan team management is well aware of the hype surrounding the occasion, Intikhab said.The only concern in Pakistan minds is Amir�s cricket related preparations for the game at Lords. Amir is all set to play the first Test match at Lords.�We all know about the circumstances surrounding his return but he is mentally prepared for this tour and he will be able to handle himself well,� he told Pakpassion.net.He said this is not the first time Amir is touring a foreign country after returning to international cricket and he also has been to England before.The Pakistan fast bowling attack apart from Amir and Wahab Riaz is inexperienced but Intikhab said it could provide a few shocks to the opposition.There is no doubt that our pace attack lacks the kind of experience that has been the hallmark of previous visiting Pakistan sides but I would caution against under estimating their capabilities.They have all been bowling well in recent times and are physically fit and will provide a sterntest for the England batsmen, he said.Speaking about the new head coach he said we are very fortunate to have someone of the stature of Mickey Arthur as Head Coach for Pakistan.He is working very hard with the team and the players are responding nicely and enthusiastically to his advice and comments.We will prepare well and put in the effort needed and God willing when the time comes make the nation proud of this team, he said.
 Australia, the world's top-ranked one-day-international side, need to work on a number of aspects to improve ahead of next year's Champions Trophy, captain Steve Smith said after they won a triangular series win in the West Indies.</strongAll-rounder Mitchell Marsh's bowling and wicketkeeper Matthew Wade's lower middle order batting powered Australia to a 58-run win against hosts West Indies in the final of the tournament, which also included South Africa."I was pleased with the way we scrapped today," Smith told reporters after the victory in Barbados. "I am using that word a lot. But that's been bit of a theme in this series with the kind of wickets we have been playing on."I am pleased we were able to get the job done."The Champions Trophy, featuring the top eight teams in the world, will be held next June in England and Wales where Australia have been grouped with the hosts, New Zealand and Bangladesh.In Sunday's final, West Indies made a brisk start in their chase of 271 with a 49-run opening stand between Johnson Charles and Andre Fletcher before Australia wrested back control and Smith said his bowlers need to start better with the new ball.""We have to continue to start well with the ball," the 27-year-old said. "In the last probably three of four series we have been up against some pretty dynamic opening batters. They have got the better of us at the start."We have been lucky enough to pull it back in the middle overs and bowl pretty well at the death. We will make things a lot easier for ourselves if we start really well, hit good areas and execute our plans."Smith was confident that Australia's young team will only get better as they play more together."We still got a lot of areas to work on ... our fielding still needs a lot of work. We need to have the energy we had today in every game," he said."Hopefully as this group continues to play more together we will continue to learn each other's games and continue to gel well as a team."
 Fifties to Kusal Mendis, Dinesh Chandimal and Angelo Mathews were the sparks in a Sri Lanka score of 248 for 9, but gloom ultimately defined the day, after rain washed out play four overs into the reply. The back end of Sri Lanka's innings had been played in drizzle, which persisted through the lunch break and for some time afterwards. Although the weather relented to allow the teams to resume play, it returned at about 4pm and play was called off by 5.30pm. England had lost Alex Hales, for a golden duck, and were 16 for 1.In Bristol, just like in the first two games, partnerships were severed by canny quicks whenever the visitors threatened to assume control of the match. In the ten overs following the 35th, Sri Lanka lost four wickets for 40 runs, and squandered the base their half-centurions had provided.Liam Plunkett and Chris Woakes claimed three scalps apiece, the former more effective with the new ball, the latter quite good with the old.Mendis batted as he has through the tour. He bludgeoned two Chris Jordan short balls for four and six at the end of the 18th over. Next over, Mendis completed a second ODI fifty with the 78th run of the innings, but then his panache forged his downfall. Attempting to repeat his pulled six against a taller, faster Plunkett, Mendis managed only to put the ball in the palms of deep square leg.Chandimal assumed a more positive outlook as he and Mathews manoeuvred Sri Lanka away from 88 for 3. Mathews ventured a low, straight six off Plunkett in the 26th over, but Adil Rashid's legspin was the more frequent victim of the pair's belligerence. The seamers returned the pair to a more measured approach, though they did continue to score smartly enough, relative to the situation: their 80-run stand was the heftiest in Sri Lanka's innings, and came off 87 balls.Having set themselves up at a reasonable 165 for 3 after 35 overs, the following ten overs were a period of significant decline. Chandimal, then Seekkuge Prasanna, were out in consecutive overs, both caught aiming swipes across the line. Mathews moved to his second half-century in three games in the company of Upul Tharanga, but top-edged a leg-side heave off Jordan to depart for 56 off 67 in the 44th over. Though the match situation was well-poised for Dasun Shanaka to showcase his hitting range, yet he attempted a non-existent single to short third man, and found himself run out cheaply again, by a sharp Joe Root.Tharanga then made the best of having to bat with the tail. He cobbled together a 33-ball 40, while Woakes in particular bowled expertly to his field, at the death. He took out the top of Tharanga's middle stump with his final ball, before Sri Lanka's last-wicket pair swung optimistically through the final over.�
 A match-winning three-wicket bowling stint by Mitchell Marsh lifted Australia to a convincing victory by 58 runs against West Indies in the final of the triangular one-day international (ODI) series in Barbados on Sunday.Australia, who batted first after winning the toss, seemed destined to post a middling target until wicketkeeper Matthew Wade, batting at number seven, rattled off an unbeaten 57 off 52 balls.He finished his stint at the crease in style with a towering six over mid wicket off the final ball as the visitors scored 270 for nine from their allotted 50 overs.The Windies made a breezy start in reply as openers Johnson Charles and Andre Fletcher put on a quick 49, with Charles scoring the lion�s share of the runs at Kensington Oval in Bridgetown.But the floodgates opened after Fletcher (9) was caught at slip off paceman Josh Hazlewood, as medium-pacer Marsh collected three quick wickets to turn the match decisively and inexorably in Australia�s direction.Marsh dismissed Darren Bravo (6) and Marlon Samuels (6) cheaply, before trapping Charles (45) plum leg-before-wicket to leave the Windies staggering at 72 for four.Marsh finished with 3-32 off 10 miserly overs, while Hazlewood (5-50) mopped up the tail as the home team were all out for 212 after 48.4 overs.The result cements Australia�s number one ODI ranking, while eighth-ranked West Indies might take some consolation from reaching the final ahead of South Africa, the other team in the 10-match series.Hazlewood was named man of the series for his 11-wicket haul.Next up for West Indies is a four-Test home series against India starting on July 21, while Australia start a three-Test series in Sri Lanka on July 26.
 Lionel Messi has said that he is to retire from international soccer after Argentina were beaten 4-2 by Chile in a penalty shootout in the Copa America final on Sunday, the fourth final the Barcelona striker has lost with the national side.</strongMessi, a five times World Player of the Year, missed Argentina's opening penalty in the shootout after the game ended 0-0 and he was shown in tears while sitting in the team dugout."It's tough, it's not the time for analysis," he said. "In the dressing room I thought that this is the end for me with the national team, it's not for me."That's the way I feel right now, it's a huge sadness once again and I missed the penalty that was so important."I tried so hard to be champion with Argentina. But it didn't happen. I couldn't do it."�
 Germany's Julien Draxler repaid the faith of coach Joachim Low with a dazzling display featuring a volleyed goal and an assist as they thumped Slovakia 3-0 to book a Euro 2016 quarter-final with holders Spain or Italy.</strongBrought in to replace the lacklustre Mario Goetze, the 22-year-old winger tormented Slovakia's defence with his dribbling and quick feet, creating a first-half goal for Mario Gomez and scoring himself with a superb volley in the second.The world champions went ahead when central defender Boateng, who had been passed fit after an injury scare, connected with a clearance in the eighth minute to volley home from 25 metres for his first international goal.The Germans then saw Mesut Ozil's weak 13th minute penalty saved but Gomez made no mistake two minutes from halftime when he tapped home a perfect cut-back from the marauding Draxler who added the third with a fine strike just past the hour mark."We know his capabilities. He has two magic feet and I'm happy for him that it led to a goal. He always gives for the side and I'm happy for him," Gomez said of the Vfl Wolfsburg winger, who was instructed to take on his man by Loew.Draxler added: "He (Loew) gave me a lot of self-confidence, trusted me and wanted me to search for a lot of one-on-ones."I think we were superior and well deserving of a victory. It was nice to be in front after the goal by Boateng. We could even afford not to score the penalty."strong>DEFLECTED VOLLEY</strongComfortable with either foot, Draxler utilised his speed and intelligence to good effect throughout, helping his side pin the Slovaks in their own half for much of the opening period.Boateng opened the scoring with a deflected volley following a corner and ran to celebrate with team doctor Hans-Wilhelm Mueller-Wohlfahrt, who helped him recover from a muscle injury sustained in their last group game with Northern Ireland.Ozil's weak penalty, well saved by Matus Kozacik, was one of the few blemishes in an otherwise superb Germany performance.Slovakia may have got the better of the Germans in a pre-Euro 2016 friendly but, apart from a few forays forward, they were all at sea.Five minutes before halftime Juraj Kucka forced a flying save from Germany captain Manuel Neuer as he sent Peter Pekarik's cross toward the top corner.Germany hit back immediately, Draxler turning Kucka inside out before squaring for Gomez to stab the ball home from close range to make it 2-0.Slovakia were marginally better in the second half but when the excellent Draxler hooked a volley into the top corner in the 63rd minute there was no way back.
 Chile upset favourites Argentina with a penalty shootout victory in the Copa America final at MetLife Stadium on Sunday to retain their title in the world's oldest continental soccer competition.</strongWith the dynamic Artur Vidal back after suspension, Chile earned themselves bragging rights as South America's dominant team as they beat heavyweights Argentina on penalties for a second straight year in the tournament decider.The two sides were deadlocked 0-0 after 90 minutes and also after another half an hour of extra time in a match where both teams were reduced to 10 men in the first half.
 Eden Hazard scored his first goal of Euro 2016 as Belgium cruised into the quarter-finals with a 4-0 win to end Hungary�s fairytale campaign.</strongBelgium go into the European Championship quarter-finals for the first time since losing the 1980 final. They were dominant throughout at Stadium de Toulouse after Toby Alderweireld headed them into a 10th minute lead.The Red Devils wasted a series of great chances to put the game to bed before Michy Batshuayi with his first touch as a substitute, Hazard and Yannick Carrasco scored in the last 12 minutes.Belgium now meet Wales in Lille looking for a place in the semi-finals, but on the back of this promising performance coach Marc Wilmots will be looking for improvements in front of goal.<br/>Hungary impressively won their group but if they struck any fear into the hearts of Belgium�s players, it did not show.From Kevin De Bruyne�s speculative fourth-minute strike that sailed Gabor Kiraly�s crossbar, the Red Devils were too hot for a Hungary making their return to a major tournament three decades after the 1986 World Cup.Almost from kick-off, Kiraly was kept busy as Romelu Lukaku, then De Bruyne, after Hazard�s superb delivery, tested the goalkeeper.When Adam Lang hauled De Bruyne to the ground on the left flank, the Manchester City forward promptly dished out the punishment with a superb inswinging free-kick thatAlderweireld headed past Kiraly at his back post. The opener settled Belgian nerves and Hazard in particular dazzled fans with some mazy runs, dribbles, and sublime passes that carved open the Hungarian defence.Despite their attractive football, a lack of clinical finishing left Belgium at risk during an encouraging Hungary fightback in the second half.Kiraly did well to block De Bruyne�s effort with his feet after he powered on to Lukaku�s sweeping pass behind the Hungarian defence.But De Bruyne headed Lukaku�s perfectly-weighted chip into Kiraly�s arms. And when Zoltan Gera gave possession away cheaply in midfield, Lukaku�s one-two with Radja Nainggolan saw the Everton striker skew wide as De Bruyne ran in unmarked at the back post.Dries Mertens won a free kick when he was charged from behind by Tamas Kadar but De Bruyne�s superbly-struck free kick bounced off Kiraly�s crossbar.The best of Hungary�s few chances came just before the interval when midfielder Gergo Lovrencsics let fly a rasping drive that sailed just over.Moments later, Thibaut Courtois was at full stretch when Balazs Dzsudzsak fired between Nainggolan�s legs.Belgium spurned another chance on the stroke of half-time when Mertens� close-range shot was deflected by Adam Lang.Immediately after the restart, Kiraly palmed over Hazard�s right-footed drive, but Hungary came fighting back. Striker Adam Szalai fired into the side-netting before rising above the Belgian defence to send a deflected header wide.Adam Pinter�s deflected lob forced Courtois to tip over, and then Roland Juhasz heading well wide from the resulting corner.But Belgium responded in style.Michy Batshuayi came off the bench to punish Hungary when he ran in unmarked after the hour to first-time his shot past Kiraly.The �keeper was then left clutching at thin air when Hazard ran across the edge of the area unchallenged to beat him at his far post.Carrasco added their fourth in the first minute of added on time when he powered down the middle on the counter to beat Kiraly.
Lionel Messi will bid to end Argentina�s 23-year wait for a major title later Sunday as his team faces holders Chile in the final of the Copa America Centenario.</strongA sell-out capacity crowd of more than 81,000 will flock to the MetLife Stadium to see if Messi can finally lead Argentina to a tournament triumph after two consecutive defeats in finals.Argentina lost both the 2014 World Cup final and the 2015 Copa America final and are desperate to avoid a third straight loss in Sunday�s game, which kicks off at 8pm local time (0000 GMT).The mood of determination in the Argentinian camp was summed up by coach Gerardo Martino in comments to reporters on the eve of the final.<br/>Argentina and Messi have been in sparkling form en route to Sunday�s showpiece, rattling in18 goals in five games.<br/>But Martino said his team would be more than happy to sacrifice style for the substance of solid silverware."The only important thing is winning. How we do it is secondary," Martino said.<br/>"The only thing to worry about now is winning tomorrow�s game. The people want it, the players all want it, we all want it."And that�s why we�re willing to give our all to turn around last year�s result."<br/>Argentina were beaten on penalties by Chile in last year�s final in Santiago after 120 minutes finished level at 0-0./><strong>'Can�t lose another�</strongAsked what conclusions he had taken from last year�s defeat, Martino replied: "What we can�t do is lose another final. That�s the biggest conclusion to draw."Messi, meanwhile, said Argentina had emerged a stronger team as a result of the various setbacks they had suffered in recent years."We have grown a lot as a team in the past year, and as a result we are stronger," Messi said.<br/>"We�ve been in spectacular form up to now. Now it�s up to us to do it again on Sunday. We don�t feel any pressure. We�re used to playing in finals -- unfortunately we haven�t won one yet."Messi, who became Argentina�s all-time leading goalscorer with his 55th international goal in the semi-final win over the United States, will need to find a way through a fiercely combative Chilean side who are busily plotting another ambush.Argentina defeated Chile 2-1 during the group stage earlier this month, but have improved steadily as the tournament progressed.A 7-0 destruction of Mexico in the quarter-finals was followed by a clinical 2-0 dispatching of Colombia in the last four."They are a team that presses you, and don�t let you play," Messi said in comments to reporters on Friday. "And when they have the ball they play very well."Chile coach Juan Antonio Pizzi said "La Roja" would have a plan ready to contain Messi, making it likely that the spiky midfield qualities of Gary Medel will be deployed to keep the Argentinian captain in check."Playing against the most transcendental player in history is going to be no easy task," Pizzi said on Saturday."We�re going to use whatever weapons we can to stop our opponent�s actions, and of course, within these strategies there is the question of Messi," he added.Sunday�s final brings the curtain down on the first Copa America to be staged outside South America.The 16-team tournament comprising sides from throughout the Americas is being held to celebrate the centenary of the Copa America, which was first staged in 1916.
strong>World number one Jason Day and Ireland's Shane Lowry on Tuesday withdrew from August's Rio de Janeiro Olympic Games, citing fears over the Zika virus.</strongGolf is returning to the Olympics for the first time since 1904, but a number of big names, including four-times major champion Rory McIlroy, Fiji's Vijay Singh and Charl Schwartzel of South Africa, have also pulled out due to Zika concerns."The reason for my decision is my concerns about the possible transmission of the zika virus and the potential risks that it may present to my wife's future pregnancies and to future members of our family," Australian Day said in a statement posted on Twitter."While it has always been a major goal to compete in the Olympics on behalf of my country, playing golf cannot take precedent over the safety of our family. I will not place them at risk," the 28-year-old Day added.Lowry, the world number 25 who finished joint runner-up in this month's U.S. Open, said his decision was based on firm medical advice."While I am bitterly disappointed to be missing out on that experience and the opportunity to win an Olympic medal for Ireland, on this occasion I have to put my family�s welfare first,� said Lowry who recently married.Ireland Olympic golf team captain Paul McGinley said the withdrawals were not good for the image of the sport.�I agree it doesn�t particularly reflect well on golfers when they seem to be the only ones withdrawing but when it is for their own personal reasons, we have to respect that," he told national Irish broadcaster RTE"The risk is very, very, very small but ultimately it�s a risk they�re not willing to take.�The mosquito-borne Zika virus can cause crippling birth defects and, in adults, has been linked to the neurological disorder Guillain-Barre. Controversy over the Aug.5-21 Games has grown as more about the disease becomes known.
 Without the star names that have graced Italy sides in the past, coach Antonio Conte says the secret to their success at Euro 2016 has been to shun the mentality of a national team and behave like a club.</strongItaly came into the European Championship with an ageing squad shorn of standout talents and with few tipping them for success.Their tournament performances, however, have confounded expectations and a 2-0 victory over Spain on Monday propelled them into the quarter-finals, where they will face Germany in Bordeaux on Saturday.Recent Italy teams went into major tournaments with individual talents such as Mario Balotelli or Andrea Pirlo, who attracted enormous amounts of media attention.For Conte, who has a notorious emphasis on the team ethic and industry over individuality, the way to achieve success is to mould the national team around the model of a club, where a well-drilled tactical system can stifle even the best opponents."I've always said, right from the start of my work here with the national team, that the only road we can follow if we want a bit of success is to be like a club, to be like a team that play together every week -- we cannot allow ourselves to be a selection," Conte told reporters following the victory over Spain at the Stade de France."I'm happy above all for the players. It's more than a month that we've been working tactically, technically, mentally and we've been trying to surprise everybody and I think we've succeeded to some extent."Spain, who had won the previous two European titles, were comprehensively snuffed out, barely posing a threat until the closing stages of the game.Conte feels next opponents Germany, however, could pose a greater challenge.The world champions cruised through the group stage and thumped Slovakia 3-0 to reach the last eight."We now face the best side at the European Championship next Saturday," Conte said."It's going to be very, very hard in all aspects. We've got to do well to recover and prepare for Germany the best way we can."We are without Thiago Motta (suspended) and that's a big blow, also because (Daniele) De Rossi took a knock to his hip. But we know that in adversity, we give that little bit more."
 New Zealand will begin their five-week tour of India with the opening test of the three-match series at Kanpur from Sept. 22, the Indian cricket board (BCCI) said on Tuesday.</strongTest cricket will return to Kanpur's Green Park Stadium after a gap of seven years while the central Indian city of Indore will make its debut as a test match centre in the second match, starting on Sept. 30.Kolkata's Eden Gardens will stage the final test against the Black Caps from Oct. 8 but the BCCI did not clarify if it would be a day-night test, as has been recently reported in the local media.The BCCI said last week they would wait for the players' feedback from September's Duleep Trophy in which pink balls would be used.New Zealand will also play five one-day internationals between Oct. 16-29.India are set for a bumper season at home when they will be playing 13 test matches, eight ODIs and three T20 Internationals.England and Australia will also visit India to play five and four tests respectively, while Bangladesh will play a one-off test at Hyderabad.India v New Zealand tour schedule:TestsSept. 22-26 - First test, KanpuSept. 30-Oct. 4 - Second test, IndoreOct. 8-12 - Third test, KolkataODIsOct. 16 - First ODI, DharamsalaOct. 19 - Second ODI, DelhiOct. 23 - Third ODI, MohaliOct. 26 - Fourth ODI, RanchiOct. 29 - Fifth ODI, Vizag
 They were two small Argentina players with the same enormous challenge -- to meet the expectations of a soccer-mad country.</strongDiego Maradona and Lionel Messi have both proved themselves to be skillful giants on the world soccer stage despite their diminutive frames of 1.65 and 1.70 metres respectively.But, while Maradona reached the heights by lifting the World Cup, Messi's only major international honour has been Olympic gold at the 2008 Beijing Games, even though at club level he has won four Champions Leagues with Spanish greats Barcelona.Argentina's failure to beat Chile in the final of the Copa America Centenario in the United States, a fourth lost final with the national team for Messi, proved too much for the little magician and he chose to quit international football on Sunday.�The pressure (Messi) got from fans and media was and is very big. �Messi must continue with the Maradona legacy� is the message,� sports medicine specialist Norberto Debbag said.�The fans expect him to be leader and football star at the same time but it appears he�s not prepared for the social pressure the national team demands,� he told the Argentine website www.infobae.com.Maradona, who had so much natural skill that he would often juggle the ball during the team's warm-up with his bootlaces still undone, was always going to be a hard act to follow in an Argentina shirt.He had to be pulled out of a cesspit he fell into as a two-year-old, fought tooth-and-nail for everything he achieved and, with his immense footballing talent, led Argentina to their second World Cup triumph in 1986 in Mexico.It was rarely easy, though.�POOR RESULTSArgentina arrived in Mexico after disappointing results in warm-up games and even the country's president was trying to get coach Carlos Bilardo replaced for fear of a poor tournament but a them-and-us attitude helped steer Maradona�s team through.Argentina fans have always wanted Messi to replace him as the team's leader on such crusades, creating unbearable pressure with each failure to end a trophy drought dating back to 1993.The street-wise urchin approach that served Maradona so well does not work for Messi.Taking into account the Confederations Cup, Argentina have lost seven major finals since 1995, three of them to arch-rivals Brazil, and four since Messi's debut in 2005, including the 2014 World Cup final defeat by Germany.The man closest to the force of personality brought to the team by Maradona and former defender Oscar Ruggeri, who captained Argentina to their 13th and 14th Copa America titles in 1991 and 1993, is Javier Mascherano.But he has suffered even more than Messi with defeats in five finals from 2004.Coach Gerardo Martino brought in former Argentine rugby union international Federico Todeschini in March to help his team with their motivation.Argentina went on a run of eight straight wins, including a tournament group stage victory over Chile without an injured Messi. But for the final, they evidently needed something extra.Harmony appeared to reign in the squad, Messi came back into the team after recovering and scored a record 55th goal for his country against the United States in the semi-final.But he also had a troubled start to the build-up to the final, openly criticising the Argentine FA (AFA) over disrupted travel plans from Houston to East Rutherford in New Jersey.He then decided to stay quiet over his team�s complaints about a lack of proper support from the AFA until after the final, telling reporters: �I�ll tell you afterwards.�However, Argentina's defeat on penalties for the second time in a year to Chile has overtaken Messi's concerns for now.
 For the Roger Federer fans on Centre Court and the legions watching on televisions around the world it was a reassuring sight as the Swiss swept past Argentina's Guido Pella into the second round of Wimbledon on Monday.</strongKnee surgery and a nagging back injury had restricted the 17-times grand slam champion to 22 matches this season and his no-show at the recent French Open ended a run of 65 consecutive major appearances.Talk of time finally catching up with Federer has been doing the rounds. So all eyes were on the 34-year-old Swiss great as he stepped onto Centre Court where he had held the trophy aloft on seven occasions.But Federer began his 18th consecutive Wimbledon campaign with a tidy 7-6(5) 7-6(3) 6-3 victory that, while never spectacular, was relatively comfortable.He offered up not a single break point to the 51st-ranked Pella, and while he converted only one of the nine that came his way, he found an extra gear when required.Federer's only real moment of alarm came at 5-6, 0-30 in the second set. But he quickly killed the danger and waltzed through the tiebreak to take a two-set lead. With light fading he made light work of the third set.Federer's next appointment will be with British qualifier Marcus Willis, ranked 772nd in the world, on Wednesday."It's a great, great story and I'm very, very excited to be playing him actually. It's the best story in tennis for a while," Federer told reporters when asked about playing Willis, a tennis coach who survived six rounds of qualifying."It's going to be a great atmosphere."While Federer was more than happy for Willis to take the spotlight after his win over Ricardas Berankis, he was more concerned with his own form and fitness after arriving at Wimbledon without a title in the first six months of the season for the first time since 2000."Time heals a lot of problems, a lot of issues," Federer said. "It's another day, another step in the right direction. It gives me confidence as I hopefully move forward."I've worked as hard as I possibly could since February. My big goal was to not miss Wimbledon, to be here, hopefully at 100 percent. Don't know yet if I am. But I'm definitely here winning in straight sets in my first round against a good player."
 Pakistan coach Mickey Arthur has arrived back in England saying that while he may have learnt from his time in charge of Australia it will not alter his fundamental approach to the job.</strongArthur�s last tour of England saw him sacked as Australia coach just weeks before the start of the 2013 Ashes following the team s unsuccessful Champions Trophy campaign.But many believed Arthur who made his name internationally as coach of his native South Africa was paying the price for the so called homework gate affair in March that year after four players including all rounder Shane Watson were dropped for the third Test after failing to complete a written assignment.Now his major challenge is to get the best out of a talented Pakistan that includes Mohammad Amir with the left arm paceman set to return at Lord s next month for his first Test since the 2010 spot fixing scandal on the ground which led to five year bans and jail terms for him new ball colleague Mohammad Asif and then captain Salman Butt.Arthur speaking at Hampshire s headquarters ground where the Pakistan squad was training on Monday believes he has absorbed the lessons of his Australia exit even if he is unhappy with the way it was portrayed in public.You go back and analyse and think about it and I�ve obviously learnt a hell of a lot from that experience, said Arthur.But I haven t changed my style because I don t think you could compromise on what you think is the right way to work ... on your core values and principles.The 48 year old added I am sick and tired of talking about homework gate and the way it�s been reported is totally way off the pace of what happened.But in terms of running teams there are ways of doing it�� and that s how you get your ultimate success.The rest of the world has long admired the sheer depth of natural cricket talent in Pakistan and having had a few weeks in his new job Arthur is no exception.It has been an eye opener, he said. The skill levels the Pakistan team has are unbelievable.�
 England's soccer journalists left their readers with no illusions on Tuesday after their side's Euro 2016 hopes were crushed by Iceland, describing the 2-1 loss as the worst in their history.</strongGoals from Ragnar Sigurdsson and Kolbeinn Sigthorsson were enough to lead the tiny nation to a quarter-final clash with hosts France, with the loss costing England manager Roy Hodgson his job.British media held nothing back on Tuesday with the headlines proclaiming the loss as not only "embarrassing" but also "the ultimate humiliation."Many referred to England's shock 1-0 loss to the United States in the 1950 World Cup in Brazil in their post-match reports, though they felt the result in Nice would now surpass that as their worst in international soccer."This was England's most humiliating night in international football: far worse than the 1950 World Cup defeat to the USA in Belo Horizonte," Paul Hayward wrote in The Telegraph."Defeat here in Nice was always going to be a deeper trauma. This one came in the era of the Premier League as global industry."The Guardian's Daniel Taylor also compared Monday's result to the 1950 loss in Belo Horizonte and suggested England's allusions to being one of the powerhouses of world soccer now needed to be questioned."Hodgson's reign will be defined by a result comparable to losing to the United States in the 1950 World Cup," Taylor wrote. "The now-familiar inquest will begin again in a country that likes to see itself as football royalty."The Daily Mail's Martin Samuel described the loss as a "seismic wave" for English soccer and felt that Hodgson probably should have been sacked after the side's group phase exit at the 2014 World Cup."What a waste the last two years have been," Samuel wrote. "Hodgson should have gone in 2014, when England lasted two matches at the World Cup. He wasn't the man then, he isn't the man now."There has been much talk of progress, promise and a strong culture of responsibility, but under pressure, that all evaporated."While Hodgson was blamed for having a seemingly incoherent plan for the tournament with no clear idea on his strongest side or how to play the game, the players and the culture of the English Premier League were also criticised."The reason why the nation struggles to feel empathy or connections with many of these players is the ego," Ian Herbert wrote in The Independent. "Too famous, too important, too rich, too high and mighty... that is this England."The Guardian's Dominic Fifield also criticised the more experienced players in the squad, who had not shown any leadership or stepped up to help their younger team members."Hodgson had needed his most established players to excel if the team were going to make an impression," Fifield wrote. "In the end they simply wilted like the rest."The BBC's chief soccer writer Phil McNulty also felt the players would need to take a look at themselves under a new manager."The ultimate responsibility lies with the manager but, make no mistake, he was badly let down by players capable of so much better," McNulty wrote."Hodgson will take the blame and has paid the price but these highly paid Premier League players should not escape criticism."
 Argentine President Mauricio Macri called football star Lionel Messi Monday and asked him to stick with the national team despite his vow to quit after a humiliating defeat, a spokesman said.</strong"He called him and told him how proud he feels of the national team�s performance and asked him not to listen to the criticism," urging him not to quit, the spokesman told AFP by telephone.Argentine football legend Diego Maradona also urged Lionel Messi not to follow through on his vow to quit the national team after its defeat in the Copa America Centenario."Messi has to stay in the national team. He has to stay because he still has playing days ahead of him," Maradona was quoted as saying by La Nacion newspaper online.
 Argentine football legend Diego Maradona on Monday urged Lionel Messi not to follow through on his vow to quit the national team after its defeat in the Copa America Centenario.</strong"Messi has to stay in the national team. He has to stay because he still has playing days ahead of him," Maradona was quoted as saying by La Nacion newspaper online."He will go to Russia in form to be world champion" at the 2018 World Cup, he added.<br/>Messi, 29, told reporters in the United States he had decided to quit after Argentina�s defeat on penalties to Chile there on Sunday.Messi is widely rated as the best player in the world, but that was his fourth defeat in an international final for Argentina.The 1986 World Cup winner Maradona, 55, blamed Argentina�s recent lack of trophies on the country�s football association (AFA).He accused it of not supporting Messi and letting him take the blame for Sunday�s defeat to cover up its shortcomings in managing the sport."The lads have to be supported more to help him take the team forward," the newspaper quoted Maradona as saying."Those who are saying he should quit are doing it so that we won�t see what a disaster Argentine football has become."AFA�s headquarters was evacuated earlier Monday after a bomb hoax, Argentine television channels reported.
Tammy Beaumont became the first England women player to score hundreds in successive one-day internationals as the hosts completed a crushing 3-0 series win with a 202-run victory over Pakistan at Taunton on Monday.</strongBeaumont, dropped on two and 64, made 168 not out from 144 balls as England compiled a colossal 366 for four.Beaumont went to her century on Monday off just 111 balls, with nine fours.<br/>She also shared a stand of 166 with Georgia Elwiss, who struck 77 from 78 balls before she was bowled.Pakistan were never in the hunt when they batted and were dismissed for just 164 with five overs of their innings remaining as England fast bowler Katherine Brunt took five for 30.
 England were dealt a humiliating 2-1 defeat by minnows Iceland on Monday as Roy Hodgson�s side crashed out of Euro 2016 in one of the most stunning upsets in the history of the game.</strongRagnar Sigurdsson cancelled out Wayne Rooney�s fourth-minute opener before Kolbeinn Sigthorsson�s tame shot squirmed past England goalkeeper Joe Hart for an 18th-minute winner.<br/>Three days on from Britain�s vote to leave the European Union, England followed the country�s lead by exiting Europe, their quest for a first title since the 1966 World Cup doomed to continue.It ranked alongside their 1-0 loss to the part-timers of the United States at the 1950 World Cup and sent Iceland, appearing at their first major tournament, into a glamour quarter-final with hosts France.England manager Roy Hodgson is now almost certain to lose his job, with Football Association chairman Greg Dyke having said recently that the team would have to "do well" in France for him to be offered a new contract.Ironically, Hodgson�s fate was sealed by his former protege Lars Lagerback -- Iceland�s joint coach alongside Heimir Hallgrimsson -- who began his coaching career under the Englishman�s tutelage in Sweden in the late 1970s.As expected, Hodgson made six changes to his starting XI at a muggy Stade de Nice, which included a recall for Raheem Sterling.The Manchester City forward was criticised for some insipid group-stage displays, but he made an excellent start, racing onto Daniel Sturridge�s fine pass and drawing a foul from Iceland goalkeeper Hannes Halldorsson.Rooney planted the penalty into the bottom-left corner to crown his 115th England appearance -- which tied David Beckham�s record for an outfield player -- with a 53rd international goal.
 A "top class" Portugal pose a bigger threat than just Cristiano Ronaldo, Poland coach Adam Nawalka insisted Wednesday ahead of their battle for a place in the Euro 2016 semi-finals.</strongRonaldo has been racking up the records in France as Portugal, who stunned Croatia to reach the last 16, go in search of unprecedented international glory.The Real Madrid star became the first player to score in four editions of the competition and is now just one goal away from matching French legend Michel Platini�s record mark of nine goals in the finals.But with only two goals in four games, Ronaldo has failed to live up to expectations.Nawalka was reluctant to "even speak about" the threat posed by the three-time World Player of the Year, but insisted the biggest danger comes from a world class Portugal team."I don�t even want to mention Cristiano Ronaldo, who�s one of the best in the world," Nawalka said in Marseille on Wednesday."Football is a team game. No one player can decide the outcome of a match. Portugal have top class players throughout their team and we have to also focus on them."But what is clear is, when they recover possession, they counter very well. They�re a dangerous team and we�re expecting a very difficult match."strong>- Goals needed -</strongWhile Portugal hope and pray Ronaldo rises to the occasion amid an underwhelming campaign so far, the White Eagles will be hoping they can maintain the dream of going one step further, said striker Arkadiusz Milik.Despite scoring only one goal so far and facing criticism for his lack of clinical finishing, he is hoping to make amends."There�s a lot of interest in us back home in Poland. That reflects very well on us, and we want to keep the fans dreaming," said Milik, whose solitary strike came in a 1-0 win over Northern Ireland.Milik and star strike partner Robert Lewandowski are under pressure to make more of their chances with Poland having scored just three times in four games.The Ajax striker revealed he has been texting former Arsenal forward Dennis Bergkamp during the tournament having forged a "close relationship" with the Dutch club�s assistant manager.Although he did not reveal the content, Milik is hoping to make improvements to his game."Maybe I haven�t been as clinical in front of goal as I should have, but hopefully I�ll get some more chances," he said."I don�t really care," about the media criticism, he added. "I try to do my job on the pitch and try to fulfil the tactical mission the coach gives me."Bayern Munich star Lewandowski scored 42 goals this season, but has failed to find the net in France.However, Nawalka insisted his captain was leading by example."I�m very happy with his performances and he�s fulfilling a very important role, both as the captain for his teammates and also on the pitch."He�s in great physical form and mentally he�s strong. He�s doing a very good job and let�s keep it that way."Asked about the threat of Portugal and, in particular, Ronaldo, Milik said: "We�re trying to approach it like any other match. We don�t feel extra pressure, or that we�re fighting for a semi-final place."We know we have to do our best, and it will be the same tomorrow."For the bookmakers, it would be a surprise for Poland to qualify, but we know our strengths and we know we�re capable of going through."
 Former spinner Anil Kumble has no concerns over the length of his contract as India's new head coach, believing he has enough time and matches to make an impact.</strongKumble, whose only coaching experience has been as mentor of the Mumbai and Bangalore teams in the Indian Premier League Twenty20 tournament, was given a one-year term last week.For the post, the Indian cricket board (BCCI) received 57 applications which were made available to an advisory panel that included former captains Sachin Tendulkar and Sourav Ganguly and former batsman VVS Laxman.The BCCI said Kumble was handed a one-year contract so they could review their options for one of world cricket's most challenging jobs at the end of that period."I am talking about a journey," former India skipper Kumble told reporters in his first press conference after bagging the job. "There are 17 test matches in the next 12 months."I just look at that as an opportunity to gain experience and contribute to Indian cricket."Kumble's first assignment will be a four-test series in West Indies, after which India is set for a bumper season of home action when they will be playing 13 test matches, eight ODIs and three T20 internationals.They start with three tests against New Zealand, while England and Australia will play five and four matches respectively. Bangladesh will also play a one-off test.HARD MOMENTSIndia won their last test series in the Caribbean 1-0 and Kumble was confident they would return victorious again."When I became captain, I never thought if I will be captain for a year or longer," the 45-year-old said. "This team has potential and we will go for wins in those 17 matches."There will be some hard moments but I am sure we will come out of those."Former leg-spinner Kumble, who heads the International Cricket Council's (ICC) cricket committee, is India's most successful bowler, capturing 619 wickets in 132 tests and 337 from 271 one-day internationals.Taking 20 wickets in tests have always been a challenge for touring India side and Kumble hoped his experience would come in handy."It's important the bowling group believe that they are leaders, which they are... just the mindset and whatever needs to be done," he added. "The experiences I have had as a captain or as a player will certainly help in sharing those."It's a different role... I understand the role of staying in the background and it's the captain who takes all the calls on the field."I will only assist him by giving him whatever necessary information there is in terms of strategy, progression."
 The next edition of the Volvo Ocean Race, the world�s premier round-the-world sailing event, will start in Alicante, Spain late next year and be the longest distance in race history, organisers said on Wednesday.The 13th ocean race, which will take eight months to complete instead of the previous nine, is reckoned to be the toughest professional challenge in yachting and this time will cover a daunting 45,000 nautical miles and visit 11 cities, said chief executive Mark Turner.The first leg will be from Alicante to Lisbon in October-November 2017, and then on to Cape Town, Guangzhou via Hong Kong, Auckland, Itajai in Brazil, Newport in the United States, Cardiff in Wales, Gothenburg, arriving finally in the Hague in June 2018."We believe this route is one of the best ever... we are taking the sailors to some of the most remote corners of the planet," said Turner."Above all, we are taking the fleet deep into the Southern Ocean: the Roaring 40s, Furious 50s and maybe Screaming 60s," he added, referring to latitude bands.Crews need to survive on a diet of freeze-dried food and a maximum of four hours� sleep a day.Abu Dhabi Ocean Racing, skippered by Briton Ian Walker, won the 12th edition of the event in June 2015 after covering 38,739 nautical miles in just under nine months.�
 Saina Nehwal is better equipped to win a medal in Rio in August than the Indian shuttler was when she claimed a bronze at the London Olympics four years ago, former All England champion Prakash Padukone told Reuters.</strongHopes that the former world number one can turn bronze into a first Olympic gold medal in the sport for her country were raised when Nehwal won the Australian Superseries title.Rio will mark a third Olympics for Nehwal, who beat former world champions Ratchanok Intanon of Thailand and Wang Yihan before overpowering China's Sun Yu in the final in Sydney."Saina has a lot more variety now," former men's world number one Padukone said in an interview."I think she plays a lot more at the net now. Earlier her game was more or less predictable. She had a few strokes, she used to keep playing them and there were not many variations."Now she has developed a lot more strokes, specially at the net. She is much more confident and that has made a big difference."The victory in Australia came at just the right time for Nehwal, who had failed to reach a World Superseries final since last November in China and was returning from an Achilles injury she sustained at the end of last year.Padukone, who won the All England title in 1980 long before badminton was admitted to the Olympics in 1992, said the 26-year-old's game just needed a bit of tweaking."Tactically she can do a little bit more. Maybe a plan A and plan B, which I'm sure she already has," said Padukone, who will be a panellist for broadcaster Star Sports during the 2016 Games. "Maybe if something doesn't work, then she has to have a different plan."It's just the question of a little bit of polishing. She definitely has everything otherwise she wouldn't have been where she is."China has long been the dominant force in the sport, sweeping all five titles at London four years ago, but their shuttlers no longer top the world rankings heading to Rio.While Malaysian Lee Chong Wei tops the men's singles rankings, Carolina Marin of Spain leads the women's list with Nehwal in sixth place.World Badminton has also limited each nation to two singles entrants in each event - down from the three at London and previous Games - and Padukone feels that makes a Chinese sweep of badminton gold in Rio less likely."They are no longer the dominating force going by the results we have seen in the last 12 to 24 months," Padukone said. "Earlier when the draw used to come, everybody used to hope there are no Chinese."That's no longer the case, that fear is not there anymore. That's good for the game. For the Indians, though they wouldn't say it, but it used to be a mind-block."India's best chance of medals will come in the women's singles, Padukone said, where as well as Nehwal they have PV Sindhu ranked 10th in the world.Padukone said the most important thing for the Indian shuttlers was to peak during the Aug. 11-20 Rio competition."When you go there it doesn't matter if in the last two months you have beaten all the top players and you have been the world number one," Padukone said."It's important that you reach the peak and play your best during that particular week. That's what will count ultimately and will be the key."
 Ask athletes what goes into Olympic gold medals, and they will likely say sweat and years of training. For Brazil's National Mint the answer is simpler: recycled silver.</strongThe 500-gram (17.6-ounce) Olympic gold medals that Usain Bolt, Michael Phelps and other athletes will be competing for in Rio de Janeiro are nearly 99 percent silver. They contain just 1.2 percent gold, mostly used as plating."It's a great honor and a great responsibility," said Victor Hugo Berbert, head of medal-making, as he showed Reuters around the mint in Rio de Janeiro.Each of the 5,130 Olympic and Paralympic medals takes about 48 hours to make, said Berbert, who has an 80-strong team working shifts around the clock.The medals are the most sustainable in Olympic history. Much of the silver is recycled from old mirrors and X-ray plates. The gold is free of mercury, which is often used to separate gold from ore and can poison local ecosystems if not carefully disposed of.Nike, the winged goddess of victory in Ancient Greece, is minted on one side below the five Olympic rings, while the discipline for which the medal has been won is engraved along its edge. The other side bears the Rio 2016 logo."It's a sense of great satisfaction that our work will be worn on the chests of athletes who have given everything to win," said Nelson Neto Carneiro, who has worked at the mint for over 40 years.
 Virat Kohli was not satisfied with being an average cricketer and the India test captain says that a desire to reach the next level was his motivation for improved conditioning.</strongThe 27-year-old is widely considered to be the fittest cricketer in the Indian side, complementing his batting with razor-sharp skills in the field.A lean patch with the bat during the 2012 Indian Premier League Twenty20 tournament acted as the catalyst for Kohli to make a "lifestyle choice"."Until IPL 2012, I did not focus much on the physical aspect," said Kohli, who tops the world Twenty20 batting rankings and is second on the one-day international list."I never got into the minute details of fitness, things like what I need to eat from morning to night, how much I need to work out and how much I need to train."After that IPL, I started listening to my body. I made a lifestyle choice."Kohli, who has scored 11 test hundreds and 25 one-day international centuries for India, admitted he initially did not have the fitness to be the world's best batsman."I wanted to explore a new side of my body to take me to the next level because I never wanted to be average," he told reporters at a promotional event in Delhi."I wanted to (be) best in the world. So I always had that mindset but never had the physical ability."Kohli has often been lauded for the effort he puts into his fitness regime and he feels it has also improved his fielding as well as given him confidence."When you become fit, you feel you can do anything," he said. "I will give you one example. I was never a quick fielder. I was never willing to field in every position."But after becoming fitter, lighter and stronger, I overcame all those doubts I had. Now it (staying fit, eating right) has become second nature to me."I have never been as fit as I am today. It has worked beautifully for me. Even in my off-time, I watch what I eat."
 Poland have an impressive defensive record at Euro 2016 but standing in their way to a semi-final spot is arguably one of sport's greatest-ever athletes, Cristiano Ronaldo.</strongThe monstrous Polish centre back pairing of Michal Pazdan and Kamil Glik face their toughest challenge yet when they come up against Portugal in the last-eight clash in Marseille on Thursday, though their previous matches have not provided much by way of preparation for facing the Real Madrid star.Describing 29-year-old Ronaldo as the "perfect athlete", U.S. lifestyle magazine Men's Health says he hits speeds of more than 32 kph, jumps nearly a metre in the air off one leg, runs an average of 16 km per match and hits more winners in the last 20 minutes than anyone else.He is the only player to have scored a goal in four Euros going back to 2004 and, while he struggled to find his feet early in this year's tournament, there are signs that he is back to his sublime best.He scored twice in Portugal's last group match against Hungary -- an audacious back heel and a towering header -- and has had a hand in two of his country's other three goals, most importantly the shot that set up Ricardo Quaresma to score the easiest of extra-time winners in their last-16 win over Croatia.For their part, Poland are good shotstoppers.They have conceded just three goals all year and only one in the Euros, an outrageous bicycle kick by Switzerland's Xherdan Shaqiri in their round-of-16 tie which they eventually won on penalties. Only Germany still have a clean sheet in Euro 2016.Poland's matches in France so far will have done little to prepare them for the pace, power and superhuman heading ability that Ronaldo possesses, however.Their top-ranked opponents to date, Germany, fielded the diminutive Mario Goetze in their group-stage stalemate and the 'false nine' presented little trouble in the box, constantly dropping back into midfield to pick up the ball.Other group matches against Northern Ireland, who did not get a decent effort on target, and Ukraine, who departed after failing to score in any of their games, were fairly straightforward.The late Shaqiri wonder goal in their last outing did unsettle the Poles, with Switzerland gaining the upper hand in extra time. But the rearguard held firm, forcing the tie to penalties.That defence will have to be immaculate again if Poland are to have a chance of progressing because they have offered little up front.They have scored two goals fewer than any other team in the last eight with hitman Robert Lewandowski, the leading scorer in Euro 2016 qualifying with 13 goals, mustering just two attempts on target so far, both in the last match.The captain's opening penalty in the shootout, which left the goalkeeper stranded as it flew into the top right corner, could be the confidence boost he needs.It is the scintillating left winger Kamil Grosicki who presents the biggest danger for Portugal's ageing but experienced defence led by 33-year-old Pepe.For Polish coach Adam Nawalka, the Ronaldo factor presents a tactical conundrum. Is he prepared to press high in search of a goal, knowing that a wrong step could unleash the Portuguese counter-attack, or does he sit back and risk becoming just a spectator to another Ronaldo masterclass?Whoever wins on Thursday will play either Wales or Belgium next, seen as the easier route to the final with hosts France, world champions Germany, Italy and surprise quarter-finalists Iceland on the other side of the draw.
 Former world champion England have vaulted three places to third in the ICC Women�s Championship, after the conclusion of round five of seven following their convincing 3-0 series win over Pakistan in Taunton on Monday.<br/> <br/> England�s women won by seven wickets (in Leicester), 212 runs (in Worcester) and 202 runs (in Taunton) in what was a high-scoring series with the home side scoring 360 runs or more in the final two matches of the series and two England batters Tammy Beaumont and Lauren Winfield sharing three centuries between them.<br/> <br/> World champions and number-one ranked Australia lead the pack with 24 points with two rounds remaining, while the recently-crowned ICC Women�s World Twenty20 champions West Indies are close behind on 20 points.After pipping Pakistan, England have climbed to 19 points and in doing so, leapfrogged New Zealand (fourth), South Africa (fifth) and India (sixth). Pakistan retained their seventh position, while Sri Lanka are in eighth spot.The final two rounds of the inaugural edition of the ICC Women�s Championship are scheduled to be played between September and November, with the top four sides at the end of the competition qualifying for next year�s ICC Women�s World Cup 2017, which will be staged in England from June 26 to July 23. The bottom four sides will get a final chance of qualification through the ICC Women�s World Cup Qualifier in early 2017.The ICC Women�s Championship will resume in September with all eight sides scheduled to feature in the final two rounds, which will culminate in November.
 The Pakistan cricket team will take on English county Somerset in a practice match on July 3, ahead of its Test match and ODI series against England.�</strongAccording to details, this will not be the only practice match the green shirts will be playing in England. From July 3-5, Pakistan take on Somerset in Taunton while from July 8-10, they will face Sussex in another practice match which will be held at Hove.The green shirts are all set to arrive today in Taunton from where their cricket tour will officially begin. �According to team manager Intikhab Alam, the cricketers spent quality time at the Rose Bowl.�Pakistan will take on England in the first Test match between the two sides, on July 14. This will be Pakistan's first tour to England after the 2010 visit which became controversial due to the infamous spot-fixing scandal.�It will also be fast bowler Mohommad Amir's first ever tour to England after he was convicted of deliberately bowling no-balls during a Test match at Lords. Along with Mohommad Amir, Salman Butt and Mohommad Asif were also found guilty of being involved in spot-fixing and were banned for multiple years.�Amir made a fiery return to the national squad, with impressive performances in the recently-held Asia Cup. It will be interesting to see how the 24-year old fares against England with a hostile English crowd.�This is also the first official assignment of South African Mickey Arthur, who was recently hired as�the new coach of Pakistan cricket team.�
 After losing the job of Pakistan�s head coach, Waqar Younis is spending family time with his children in Europe, roaming around the Rome and praising the beauty of Italy.</strongBut someone is missing in the trip and this family man was not hesitant to express his feelings about her openly on social media.While being in Venice, Waqar Younis took Twitter to show his longing for his wife by posting a picture with his kids.�Just got to the most romantic place in the world. Family is incomplete without Dr. Faryal Waqar, missing dearly at Venice,� he wrote. dir="ltr" lang="en">� waqar younis (@waqyounis99) <a href="https://twitter.com/waqyounis99/status/748171738379325440">June 29, 2016</aWaqar Younis is considered one of the best ever to play for Pakistan. He took more than three hundred wickets in both Test and ODI cricket and became head coach of the Pakistani cricket team after retirement.He set a record by becoming the youngest-ever Test captain for Pakistan at twenty-two years and fifteen days old.He and Wasim Akram formed one of the most lethal bowling combinations of their era while representing Pakistan.
 Cristiano Ronaldo is a perfect team man, who is giving his all for Portugal at the ongoing Euro 2016, team mate Adrien Silva has said.</strongAfter a slow start to the tournament, Real Madrid striker Ronaldo scored twice in Portugal's 3-3 draw against Hungary to prevent a shock group stage exit and has played a part in two of his country's other three goals in the tournament.Midfielder Silva, who plays for Sporting Lisbon, said Portugal would need Ronaldo to fire in Thursday's last-eight clash against Poland in Marseille if they are to make the semi-finals in France."It is true that Ronaldo is very important for us," Silva told reporters in France."It is no use beating about the bush. He scored but he also plays for the team, works for the team. He is our captain and he plays like that. He is an amazing player. We should focus on that."Poland, who finished second in Group C behind Germany, have scored three goals from their four matches and conceded one in the tournament.
 Pakistani fast bowler Mohammad Amir feels said that the cricket team would benefit from Mickey Arthur's coaching practices.�</strongAmir said that he had also earlier played with Mickey Arthur. He said that Arthur always jelled with the players, which was a good thing. Amir spoke about the fitness camp ahead of the England tour and said that it would help improve players' fitness level and prevent injuries.�During an interview, Amir said that the national team's players learned a lot from Mickey Arthur, who was a brilliant coach. He also said that conditions in England were fantastic and all members of the Pakistan team were focused for the tour.�Amir said that the training camp which the Pakistan cricketers had taken part in was something he had never quite seen before and was quite impressed with.�He said the level of workout which the players did would aid them in warding off injuries and increasing their fitness level. In order to check fitness level, a fitness test every two weeks is a good idea, he said.�This will be the first time that Amir plays in England after the infamous 2010 Pakistan-England tour in which he and his fellow teammates Mohammad Asif and Salman Butt were accused and subsequently found guilty of spot-fixing.��
 Denied another stint as India�s head coach, Ravi Shastri has been embroiled in an ugly spat with former captain Sourav Ganguly, who was part of the panel which awarded the job to Anil Kumble last week.</strongThe coach�s post was vacant since Shastri�s 18-month tenure as the team director ended with India�s semi-final exit at the World Twenty20 tournament on home soil earlier this year.For the post, the Indian cricket board (BCCI) received 57 applications which were made available to an advisory panel that included ex-captains Sachin Tendulkar and Ganguly and former batsman VVS Laxman.The panel met the final contenders, including Shastri who spoke via skype, before Kumble, a contemporary of the ex-cricketers on the panel, landed the job despite his lack of coaching experience.Shastri told the Indian media that Ganguly�s absence during his interview was disrespectful and he advised the former captain to be present at important meetings in the future.Ganguly, one of the most successful Indian captains, said he had taken the BCCI�s approval to attend a meeting of his state cricket association, of which he is the president."I just feel that the comments are very personal and if Ravi Shastri feels that I am responsible for him not being the coach of India, he�s living in a fool�s world," Ganguly told television reporters in Kolkata."It�s a committee and there are people in the committee who are of more repute than I am and there are other people involved also who were consulted and spoken about.So that�s disappointing."Ganguly said the panel had agreed his request to resume the interview after completing the association�s meeting."Once I came here to this meeting, I got a message from (BCCI secretary) Mr (Ajay) Shirke that the other two members are requesting if they could continue with Ravi, which I was fine with."I said �fine, I know I have been stuck with this and you please go ahead and do it�.That happens everywhere in the world and that�s the exact story."Ganguly said Shastri should also have made the effort to be present in person during his interview."Since he�s spoken about disrespect, and honestly I say this with anger, that he gave me a suggestion that in the future that I should be available for such meetings," Ganguly said."I have an advice for him also.When the coach of India is selected, and it�s one of the most important jobs in cricket, he should be in front of the committee giving his presentation and not sit in Bangkok on holiday and make a presentation on camera, especially when someone, who is one of the greatest cricketers of India all time (Anil Kumble), spoke for two hours nearly.
 Determined to exit swimming on his own terms, Michael Phelps cleared a major hurdle on the road to Rio on Wednesday, qualifying for a fifth Olympics with a victory that has paved the way to more Games glory.</strongInspired, motivated and sober, Phelps heads to Rio thanks to his 200 metres butterfly win at the U.S. Olympic trials with the goal of adding to his staggering record total of 22 medals, including 18 gold, and pen a happy ending to a brilliant career that he feels he denied himself at the 2012 London Olympics."Coming back and being able to have the opportunity to finish how I want," said Phelps, of his motivation. "I'm doing this because I wanted to."Thinking about the ups and downs we've gone through in and out of the pool to get to this point and not feeling an absolute 100 percent but still being able to get the job done."I think things are probably going to hit me a lot more emotionally now than what they would have in the past, because I'm enjoying the moment and I'm embracing the moment."For Phelps, this Olympic journey is more important than the destination, a trip into retirement that he is determined to share with his fiancee Nicole and infant son Boomer, who were among the sellout crowd of 14,000 at the CenturyLink Centre.At London, which he had declared to be his last Games, Phelps won four gold and overall six medals but walked away with the regret that he simply went through the motions.He subsequently talked of a golf career but eventually found himself testing the waters of a swimming comeback which was interrupted by a second drunk driving arrest in 2014 and a stint in rehab that laid the foundation for Phelps' transformation from a party boy to a family man.After accepting his medal for his 200 fly win, Phelps searched the darkened arena for his partner and child, joining them poolside where he hugged Nicole and planted a kiss on his son's forehead."I wanted to go over, and I've always given my family my flowers and stuffed animal, I guess that's his (Boomer's) first stuffed animal from a race," said Phelps, who will have Nicole and Boomer join him in Rio despite the Zika threat. "I just wanted to share that with them."I don't see him every day. I try to, but if I do it's for a very short moment, so any time I have with him is always very special."While Phelps, who will celebrate his 31st birthday on Thursday, has turned his life around away from the pool, in the water he remains as demanding and critical as ever.Aside from the result, very little in his 200m swim on Wednesday evening pleased Phelps, the winning time of 1:54.84 well off his world record mark of 1:51.51."Awful," declared Phelps when asked to assess the last part of his swim. "The piano felt pretty hard."I think with everything that has happened and being able to come back that was probably harder than any swim I have had in my life."I haven't felt great in the water but like I said, I'm checking a box off, being able to get on the team."Getting on the team was the most important thing and that was the only thing I had to do tonight."
 Jason Roy fell five runs short of setting a new batting record but his superb 162 still helped England win the fourth ODI against Sri Lanka and take an unassailable 2 0 series lead on Wednesday.</strongSurrey s South African born opener took centre stage on his home county ground and hammered the second highest individual one day score by an England batsman.His fireworks lit up the gloomy rain filled South London skies to ensure England captured the series at The Oval.His second hundred in three ODI games 162 runs off 118 including 13 fours and three sixes helped England clinch a six wicket win with overs to spare as they chased down their revised victory target of 308 with ease.And they clinched the series 2 0 with just one game left in Cardiff on Saturday.It was England s second highest successful one day run chase�� and they did it in 42 overs.Sadly for Roy he fell just five runs short of overtaking the highest score by an England batsman with another Robin Smith s 167 not out against Australia at Edgbaston in 1993 still holding firm.He was bowled by Nuwan Pradeep with England in sight of the finishing line.Jonny Bairstow and Jos Buttler saw them home with 11 balls remaining.At Edgbaston Roy was accompanied by fellow opener Alex Hales who also made an unbeaten ton in that match.But this time he was helped mainly by Joe Root whose 65 showed a return to form for the Yorkshireman who had struggled recently and had gone six games with just one score over 11. But if Root had his mojo back Roy merely continued in the kind of vain which has made him one of the world s most destructive and stylish one day performers.A back injury to Alex Hales during Sri Lanka s innings of 305 5 off a reduced number of overs due to the rain meant Moeen Ali had to open with Roy instead.But Roy shrugged off the early loss of Ali for just two and the batsman cut and carved the Sri Lankan attack apart.England raced out the blocks needing more than seven an over and Roy ensured they were always up with the required rate the skies still dark and threatening to rain once more.Root departed a lazy top edged sweep saw him caught by Nuwan Pradeep off Danushka Gunathilaka and his 149 run second wicket partnership with Roy came to a sad end.Morgan looked well set until he was superbly caught by the diving Gunathilaka for 22 off Suranga Lakmal with England on 221. Roy was joined by Jonny Bairstow and reached 150 but was kicking himself when he was bowled by Pradeep with England so close to the finishing line.Earlier Sri Lanka had produced their best batting display of the series so far with four men hitting half centuries.The tourists recovered from losing opener Kusal Perera in the second over run out by Jonny Bairstow for just a single to give England s attack the run around.Morgan chose to field first and he may have been regretting it for a while as Gunathilake and Kusal Mendis put on 128 for the second wicket off just 111 balls.Mendis was struck 13 boundaries in his 77 while Gunathilaka was also aggressive with seven fours in his 62. The persistent rain finally came down hard enough to force the players from the field for a two and a half hour delay with Sri Lanka on 127 1 from 18.1 overs at the time.England fought back with Adil Rashid claiming the wickets of Mendis (77) and Gunathilaka (62) but England still had to deal with the in form Chandimal (63) and his captain Angelo Matthews (67 not out) who picked up the gauntlet.and helped Sri Lanka amass 305 5 from 42 overs.England s target was revised up by just three runs but with Roy building up a full head of steam they cruised home comfortably.
 Few players have reduced the great Roger Federer to a role as secondary attraction on Wimbledon's Centre Court but for one hour and 25 minutes on Wednesday he had just a walk-on part in the Marcus Willis fairytale.</strongThe seven-times champion enjoys too much deep-rooted affection at the All England Club to be cast as a real pantomime villain, but for once the cheers were all behind the 25-year-old local hero on the other side of the net.Federer's 81st Wimbledon match, of course, ended in victory.Even the most over-egged Hollywood script could not have had him losing to world number 772 Willis, whose transformation from a 30 pounds ($40.30) an hour tennis coach to Wimbledon sensation has captured the imagination of the sporting world.But the swaggering Swiss was at least made to break sweat under the closed roof before claiming a 6-0 6-3 6-4 victory.Willis had his photo taken with Federer, 34, before the warm-up and could hardly stop grinning.He even celebrated a practise serve with a raised fist as his friends went through their song-list at court side.But when Willis lost the opening set in 25 minutes without managing a game you feared the worst.strong>DEAFENING ROAR</strongSo when he did finally trouble the scoreboard, holding serve in the eighth game, the deafening roar rivalled the one heard when fellow Briton Andy Murray ended 77 years of pain by beating Novak Djokovic in the 2013 final.From then on the quirky left-hander's unorthodox shots kept 17-times major champion Federer guessing at times, especially his grass-hugging backhand slices and cheeky drop volleys.Federer joined in with some dazzling party pieces of his own but played largely within himself -- smiling occasionally as Willis bathed in an unfamiliar spotlight.Afterwards he paid Willis the ultimate compliment."I'll remember most of the Centre Court matches here at Wimbledon, but this one will stand out because it's that special and probably not going to happen again for me to play against a guy 770 in the world," Federer told reporters."The support he got, the great points he played. In some ways, I enjoyed it as much as I possibly could, but I also had to put my head down and focus hard to get the lead."strong>PUSHED HARDER</strongFederer broke for a 5-2 lead in the second and closed it out two games later but was pushed harder in the third as Willis, who survived six qualifying rounds before stunning Lithuania's Ricardas Berankis in round one, kept his nose in front.Federer, moving well after missing the French Open with a back injury, looked a touch relieved when he broke at 4-4 in the third set, though, and claimed victory when Willis sliced a backhand long in the next game."Today again, after the match, I just said he played great and I wished him the best for the rest of the year," Federer said. "I said a few days ago, this story is gold."Willis, cheered on by his parents and his girlfriend who persuaded him to continue his professional career rather than coach in the U.S., walked off with his head held high.His mates sang "Shoes off, if you love Willis! -- a bizarre chant they started when he was beating 54th ranked Berankis."I have had a fantastic couple of weeks. I will keep going and do what I have been doing," said Willis. "There is life after Wimbledon and I want more experiences like this. I've earned myself a beer now!"
 Poland and Portugal�s football authorities became the latest to come under scrutiny from UEFA as European football�s governing body opened disciplinary proceedings against both federations on Friday.</strongPortugal progressed to the semi-finals of Euro 2016 with a 5-3 penalty shootout win in Marseille after the teams were tied at 1-1 after extra-time.The Polish Football Federation (PZPN) face sanctions for the setting off of fireworks, crowd disturbances and a delay to kick-off.Meanwhile, the Portuguese Football Federation (FPF) could also be punished for the setting off of fireworks and field invasions by supporters as one fan ran towards superstar Cristiano Ronaldo after entering the pitch in extra-time.The FPF had already been cited by UEFA when a fan ran onto the field to take a picture with Ronaldo at the end of their 0-0 draw with Austria on June 18th.Both cases will be dealt with by the UEFA Control, Ethics and Disciplinary Body on 21 July.Federations from Hungary, Belgium, Albania, Romania, England, Russia, Croatia and Turkey have all faced varying degrees of sanctions from UEFA during a tournament often disrupted by fan troubles.
 Championship leader Nico Rosberg clocked the fastest ever lap at the Red Bull Ring on Friday as he topped the times in an incident-filled opening free practice for this weekend�s Austrian Grand Prix.The German, who celebrated his 31st birthday on Monday, recorded a lap in one minute and 7.373 seconds to outpace nearest rival and Mercedes team-mate defending three-time champion Lewis Hamilton by nearly four-tenths of a second.Hamilton has a 24-points lead in the drivers� championship ahead of Hamilton and this weekend is seeking his third successive victory in Austria since the event returned to the F1 calendar in 2014.Briton Hamilton, also 31, was four-tenths of a second off the pace set by Rosberg as he wound up second, after some off-track excursions, ahead of four-time champion German Sebastian Vettel and his under-pressure Ferrari team-mate Finn Kimi Raikkonen.Australian Daniel Ricciardo was fifth for Red Bull as they strove to impress on their �home� Red Bull Ring circuit in the Styrian Alps.His team-mate Dutch teenager Max Verstappen was unable to stay with him and finished down in eight place after a difficult session that saw him twice run off over the kerbs and damage his car.Verstappen complained that the new kerbs on the circuit were �unbelievable� and dangerous. Early in the session, he broke his front wing when he ran across the bright yellow kerbs at the exit of the penultimate corner.Speaking on team radio, he said: "The yellow kerbs in the fast corners are really dangerous.... Those yellow things, it is just unbelievable."After repairs, he resumed, but crashed again into a gravel trap with half an hour to go, this time appearing to damage his car�s front right suspension at Turn Six.Spaniard Carlos Sainz, who this week was confirmed as staying with Toro Rosso next year, was sixth ahead of Brazilian Felipe Massa of Williams with Russian Daniil Kvyat taking ninth in the second Toro Rosso and Valtteri Bottas of Williams 10th.
 Former chief selector Salahuddin has said that the cricket series between Pakistan and India is very important at the moment.The series between Pakistan and India would also be beneficial for International Cricket Council (ICC), a private news channel quoted him as saying.It may be mentioned that the PCB signed an agreement in which it agreed to the idea of the Big 3s influence on world cricket in 2014 with the clear understanding that India would play six series with us over a period of eight years.These series would have been played in India or a mutually agreed venue in a third country.The BCCI told PCB that they needed permission from the Indian government for these series and PCB agreed to wait for that but that permission never came through.PCB even agreed to play India in Sri Lanka back in December but even that permission was not forthcoming from the Indian sideand as a result the series didn�t happen.It also showed that India had not met PCB�s conditions for accepting the Big 3 formula.Speaking about Salman Butt and Muhammad Asif, he said they should also be given a chance in the Pakistan Super League (PSL).He also said that Pakistan team has not found replacement of Muhammad Asif yet and Muhammad Amir will have to be very careful in England.�
 Andy Murray produced the kind of imperious form that has propelled him into two grand slam finals this year as he beat Taiwan's Lu Yen-hsun 6-3 6-2 6-1 in the Wimbledon second round on Thursday.</strongLu, the son of a chicken farmer, ruffled a few feathers on Centre Court when he jumped out to a 2-0 lead before extending it to 3-1 in the opening set.However, once Murray had levelled for 3-3, it did not take him long to clip his rival's wings.From 3-2 up in the second set, Murray won seven games on the trot as Lu struggled to find a way to keep pace with Murray's potent groundstrokes.A Lu double fault on match point allowed Murray to hurry off court for a royal audience with Camilla, the Duchess of Cornwall.After huffing and puffing his way through five-setters in the first two rounds of the French Open, Murray was relieved that his start to the grasscourt major was much more serene.Six sets contested, six sets won."It's always difficult to know how close you are to being your best. But I was hitting the ball clean. I was happy with how I played," said the world number two, who will next face Australian John Millman.Lu, affectionately known as Rendy on the tour, had handed Murray a chastening defeat in the first round of the 2008 Beijing Olympics.Since then, however, the man who beat Andy Roddick to reach the 2010 Wimbledon quarter-finals has failed to win a set against the Scot in four subsequent meetings.On a comeback trail after being out of action for four months having undergone right elbow surgery in January, Lu had come into the match on an 11-match winning streak on grass after claiming two Challenger titles in the run up to Wimbledon.But despite the promising start against Murray, his luck quickly ran out."I finished the match really well. Hopefully I start the next match like I finished this one. Yeah, keep it going," said Murray, who turned up for his royal appointment having shaved off the scruffy stubble he had sported during his first-round match.
 Swedish striker Zlatan Ibrahimovic is joining Manchester United and will play for his first Premier League club at the age of 34 under his former manager Jose Mourinho.</strong"Time to let the world know my next destination is @Manutd," Ibrahimovic said on Twitter on Thursday.Ibrahimovic had been widely expected to join the English club after informing Paris St Germain that he was leaving after four years in the French capital.The much-travelled striker will link up with Mourinho, his former manager at Inter Milan, who has just taken over at Old Trafford.United, who have not paid a fee to sign the out-of-contract Ibrahimovic, will be the eighth club of a career which began with his hometown team Malmo in 1999 and has included spells at Ajax, Juventus, Inter Milan, Barcelona and AC Milan.He has scored 392 goals in 677 games and won a trophy in each season of his career since 2001.Beyond the silverware, however, it is the box-office appeal of the Swede which has appealed to United, whose supporters have bemoaned the lack of star-quality in their teams since the departure of Alex Ferguson.United were widely criticised for playing boring football last season under now departed manager Louis van Gaal. Boring is not a word which could be used to describe the flamboyant Ibrahimovic, who scored 50 goals in 51 matches for PSG last season.United have not yet confirmed the deal but British media reported that he will undergo a medical at Old Trafford on Friday.Ibrahimovic announced his retirement from international football last week after Sweden's early exit from Euro 2016.He will link up with his new team mates next month and could feature on the club's tour of Asia, for which they are due to depart on July 19.
 Australia coach Darren Lehmann has urged cricket's governing body to help reduce the workload on players competing in all three forms of the game as he fears the current packed schedule is unsustainable.</strongAs the Indian Premier League (IPL) appears set to capitalise on recent International Cricket Council (ICC) changes to the schedule through a "mini IPL" in September, Lehmann fears such a tournament would further restrict time off for his players.In 2015, Australian cricketers who played all three formats spent on average 280 days overseas. Under Cricket Australia (CA) contracts, players are given a six-week break from commitments, which many use to sign lucrative IPL contracts.Lehmann said that while the financial incentive to play in India was tempting, it often wore players out and the ICC should use a common sense approach to future scheduling so that the toll on bodies was not too high."If it keeps going like this, with players playing IPL as well, they are inevitably going to break down," Lehmann told Australian media on Friday."Hopefully changes will happen at the ICC and then you will see a refined schedule which will be better."Lehmann said while players often consider setting themselves up for life by playing in the IPL, it was a "tough conundrum" for national selectors, as they are reluctant to advise players not to take on out-of-contract commitments."If you look across a two-year cycle, all of our players have had to come home at some point," he said, while referring to injuries Steve Smith (wrist) and Mitchell Marsh (hamstring) picked up in the most recent IPL season.Lehmann believes that while players may be primed to perform under match day stresses, it was the constant travel, variable conditions and lack of adequate rest which was putting them most at risk."It's not so much the cricket; it's the travel to these places. You're on the road, you have training and all that stuff," he said.The ICC is currently considering the introduction of a two-tiered test Championship and a one-day league, which would go some way to lightening the workload.
 Test cricket�s newest nations are in despair at plans to split the format into two divisions, fearing it could undo decades of hard-fought progress on the field and kill interest in the game.Cricket�s governing body the International Cricket Council (ICC) is meeting in Edinburgh this week to debate proposals for the seven top-ranked teams to establish a de facto premier league in a bid to boost waning interest in Tests.Under the scheme being considered by the ICC, the other three countries with Test status would join a five-strong second division along with Afghanistan and Ireland.<br/> While the shake-up would guarantee cricket�s leading nations play each other every other year, the other sides would be starved of matches which draw in crowds and lucrative broadcast deals.As things stand, the two latest arrivals at cricket�s top table -- Bangladesh and Zimbabwe -- will be doomed to the second tier and could be joined by another relative newcomer Sri Lanka."This will spell the death of international cricket as we�ve known it," said Ahmed Sazzadul Alam, a Bangladesh Cricket Board (BCB) director.Bangladesh lobbied for years to join cricket�s elite before playing their first Test in 2000. Their record has been poor, winning just seven of their 93 Tests and they are currently ranked ninth, just above Zimbabwe.However, performances have improved significantly of late and Bangladesh have only lost six of their last 18 Tests.BCB vice president Mahbubul Anam warned Bangladesh "would go backwards" if they stop playing teams such as England and India, both of whom they are due to play later this year. "The more we play against competitive sides, the better we�ll get," said Anam.Alistair Campbell, a former director of Zimbabwe�s board, appreciated the arguments for a split because of the gulf in class between the top and bottom sides.But Campbell, a former captain who played in Zimbabwe�s inaugural Test against India in 1992, said it would be heartbreaking if current players would never be able to compete against the best."It�s going to be a tragedy if you are growing up in a country like Zimbabwe or Bangladesh," he told AFP. "It means you might never get the opportunity to play with top tier sides. That might drive players to go and seek greener pastures."There are similar fears in Sri Lanka which has fallen down the rankings in the last two years after batting greats Kumar Sangakkara and Mahela Jayawardene retired.<br/> Sri Lanka are currently ranked seventh and in danger of being overtaken by an improving West Indies by the time the proposed split comes into force.Sri Lanka also struggled in the first decade after their inaugural Test in 1982 but then found their feet and won the 1996 World Cup.Sidath Wettimuny, who scored Sri Lanka�s first Test century, warned the architects of the split were playing with fire."It�s okay to make some tweaks but what is proposed is going to be a disaster in every sense of the word," he said.Sri Lankan board�s secretary Mohan de Silva was cool on the proposal. "We are not very much in favour, but we need to discuss with our executive committee after studying it carefully before taking a final decision," he wrote in a text from Scotland.But Sports Minister Dayasiri Jayasekera insisted the shake-up should be opposed as it would "have a negative impact".Sri Lanka�s cash-strapped board is hugely dependent on TV money and ticket revenue from tours by the likes of India and Australia. But neither broadcasters nor spectators will pay significant amounts for matches involving minnows such as Ireland."If you club the weakest teams in one league, who�ll be interested in watching those games? This will lead to financial ruin," Jayasekera told AFP.The BCB�s Alam also warned of dire financial consequences. "There would be an inevitable loss of interest among younger followers of and a decline in interest from the media and sponsors," he said."The resulting downturn in revenues would undermine development programmes and funding of domestic leagues�. It will effectively mean the end of cricket for countries like us."
 Defending champion and world number two Brooke Henderson fired a seven-under par 65 Thursday to seize a two-stroke lead after the first round of the LPGA Portland Classic.The 18-year-old Canadian, who won last year�s event by eight strokes to become the third-youngest winner in tour history, made a solid start toward repeating as champion with nine birdies against two bogeys at the 6,476-yard Columbia Edgewater Country Club in Portland, Oregon.Henderson sits two strokes in front of Angela Stanford, Demi Runas and Colombia�s Mariajo Uribe.Henderson began her round on the back nine with a birdie at the par-5 10th, answered a bogey at the par-3 13th with a birdie on 14 and then closed that side of the course with consecutive birdies.Henderson, who won her first major title three weeks ago at the Women�s PGA Championship by downing top-ranked Lydia Ko in a playoff, birdied the par-3 second hole but took a bogey at the fourth only to respond by reeling off four birdies in a row, two on par-5 holes and the last a 36-foot birdie putt on the par-3 eighth."I was able to make four birdies coming in right in a row to put myself in a good position," Henderson said, admitting she was bothered by the bogey at four."I came off a bogey and I knew I had two par-5s which were really gettable," she added. "I kind of put my focus on them and I was able to get them. Then a long birdie putt on eight that I�m very thankful for. Wasn�t really expecting it to go in, but I�m very happy."Fond memories of her 2015 victory made the stroll around the course even happier."Just walking around I remember some of the shots I hit," she said. "Some of the pin placements are kind of similar, so trying to think back to what the putts did and how they broke."�
 Portuguese coach Fernando Santos said his hardest task will be keeping his "kids" grounded after they advanced to the semi-finals with a win over Poland on Thursday.</strongMore than a third of Sanches' 23-man squad are under the age of 25, with 18-year old Renato Sanches producing a match-winning performance in his first start. He became the youngest player to score in a knockout stage game at the Euros."I have to manage everything because for these kids ... it's a dream," said Santos, whose team will play either Belgium or Wales in next Wednesday's semi-final."They are playing for their country, they have reached the semis and now anything can happen. It is a dream for me, but I imagine it is an even bigger dream for my players."Santos put faith in his youngsters in the quarter-final, with Jo�o M�rio (23) William Carvalho (24) and C�dric (24) all joining Sanches in the starting side and the coach felt conceding an early goal may have been down to a lack of experience."Some of them (my players) have reached this stage for the first time and some of their heads are up in the clouds because they are dreaming of what's happening."Shortly after they went behind, Santos hauled over Sanches -- the youngest player to start for Portugal in a major tournament -- for a chat.Although he would not divulge what was said, it seemed to make the difference.Sanches went on to equalise just after the half hour mark, followed captain Cristiano Ronaldo's lead to convert the second penalty in the shootout, and won his second successive man-of-the-match award.But Santos was eager to take the spotlight off his young midfielder."He still has a lot to offer and is still growing. The Renato you see today, I think this is not the future Renato," he said."He has to take all his qualities and put it all on the pitch and it is my job to help organise his type of play."
 Portugal beat Poland 5-3 in a penalty shootout on Thursday to reach the semi-finals of Euro 2016.</strongThe quarter-final ended 1-1 after 90 minutes and when neither side scored in extra-time, it went to a penalty shootout with Ricardo Quaresma scoring the winning spot kick after Jakub Blaszczykowski�s attempt was saved.
 Portugal superstar Cristiano Ronaldo had to swerve the attentions of a pitch invader during his side�s Euro 2016 quarter-final against Poland in Marseille on Thursday.The intruder, wearing a Portugal shirt with Ronaldo�s number 7, charged onto the field during the second-half of extra-time with the score tied at 1-1 and headed straight for Ronaldo. The Real Madrid star dodged out the way before the man was dragged off the field by 14 security personnel.Marseille was the scene for widespread violence between England and Russia fans on the opening weekend of the tournament.
 England beat Sri Lanka by 122 runs to win the fifth and final one-day international in Cardiff on Saturday.</strongVictory saw England take the series 3-0, with one tie and one no result.England, sent into bat made 324 for seven, with Joe Root top-scoring with 93 and sharing a stand of 109 with Jos Buttler (70).Sri Lanka off-spinner Danushka Gunathilaka took an ODI best three for 48.Chasing 325 to win, Sri Lanka were dismissed for 202 with more than seven overs remaining in their innings.Dinesh Chandimal (53) was the only Sri Lanka batsman to pass fifty.England left-arm paceman David Willey took four for 34, including the last three wickets in the space of seven balls, after fast bowler Liam Plunkett had again made inroads on his way to three for 44.Sri Lanka�s tour concludes with a one-off Twenty20 international against England at Southampton on Tuesday.
 Pakistan hopes to host its Twenty20 league final on homesoil next year if cricket authorities are able to allay security fears of international players, an official said Saturday.</strongPakistan has not staged major international cricket events on its home grounds -- barring a few limited over matches against lowly ranked Zimbabwe last year -- since terrorists attacks targeted the Sri Lankan team in Lahore in 2009.Following the attacks, they have been forced to stage their home series on neutral venues in the United Arab Emirates, where they also hosted the inaugural Pakistan Super League (PSL) in February this year.PSL chairman Najam Sethi said all efforts will be done to host the PSL final in Lahore."We will try our best to stage the final of the second edition of PSL in Pakistan," said Sethi after chairing a meeting in Lahore.Five teams competed in the inaugural league which also featured top names like West Indians Chris Gayle, Dwayne Bravo and Darren Sammy, Australian Shane Watson and England�s Kevin Pietersen.Sethi said the success of the inaugural PSL was encouraging."We are buoyed by the success of PSL last year and things are now getting into an exciting phase for season two. I can promise we will leave no stone unturned in bringing unparallelled cricketainment to the fans," said Sethi.Twenty20 leagues are fast getting popular across the cricketing world since India launched its cash-rich Indian Premier League in 2008.
 Sebastian Vettel topped the times ahead of his Ferrari team-mate Kimi Raikkonen after Nico Rosberg crashed heavily in Saturday�s dramatic third and final practice ahead of Sunday�s Austrian Grand Prix.In a clear signal of a return to form in much warmer weather, with track temperatures at the newly asphalted Red Bull Ring circuit rising to 44 degrees Celsius, Ferrari showed superior pace and tyre performance as championship leading rivals Mercedes struggled.Defending three-time world champion Lewis Hamilton managed to wind up third behind the Ferraris ahead of the Red Bulls of Australian Daniel Ricciardo and Dutch teenager Max Verstappen with Finn Valtteri Bottas sixth ahead of Williams team-mate Felipe Massa of Brazil.But the session was overshadowed by championship leader Rosberg�s crash, which saw the session red-flagged to a halt for 10 minutes. It was confirmed by the team that the German suffered a suspension failure.Rosberg appeared to be pushing for a fast lap on a new set of ultra-soft tyres - on which both Mercedes men have struggled for performance - as he came out of Turn Two.Hamilton had followed him out also on ultra-softs as Rosberg�s Mercedes showed heavy left rear wheel vibrations as he ran wide across the kerb.He seemed to be clear of the controversial yellow �baguette� kerbs that were criticised so severely on Friday by Verstappen.Rosberg�s car appeared to suffer a suspension failure and he was thrown into a spin that saw him crash off the barriers on the left off the track before coming to a halt.He was unhurt, but the session was red-flagged to a halt for 10 minutes during which the debris was cleared and an angry Rosberg gave vent to his feelings, waving his arms in frustration in the Mercedes garage.His accident demonstrated clearly how difficult Mercedes were finding it to manage the ultra-soft tyres and extract good performance.On re-start, Hamilton went out and clocked a lap in 1:07.7 to jump to fourth on the monitors, some way off the pace set by Vettel who did 1:07.098, another outright lap record at the Red Bull Ring.In a final flurry of action, Hamilton kept off the kerbs and rose to fourth and then third before the chequered flag.Rosberg�s misfortune may have handed Hamilton a chance to cut his team-mate�s 24-point lead in the title race if he can take advantage in qualifying scheduled to take place later Saturday.
 Australia�s Cate Campbell broke the women�s 100 metre freestyle world record on Saturday at a meet in Brisbane as she prepares for the Rio Olympics."We present your �new �world record holder in the 100 free," tweeted the Australian Swim Team, confirming the 52.06 second swim which eclipsed German Britta Steffen�s old mark of 52.07 set in 2009.
 �Sri Lanka captain Angelo Mathews won the toss and elected to field against England in the fifth and final one-day international at Cardiff on Saturday.England had already won the series at 2-0 up with one to play following their dynamic six-wicket win in a rain-affected match at The Oval where opener Jason Roy made 162 on his Surrey home ground.England made two changes, with Roy�s opening partner Alex Hale ruled out with a back niggle.Hales was replaced by James Vince with off-spinner Moeen Ali making way for an extra seamer in Chris Jordan on a green-tinged pitch.Sri Lanka made one change, left-arm seamer Chaminda Bandara coming for his debut in place of dropped all-rounder Farveez Maharoof as the tourists went in search of their first win on English soil this trip following a 2-0 defeat in the preceding three-Test series.No sooner had Mathews won the toss then it began to rain again. But the scheduled start of play was pushed back by just 10 minutes to 10:40am local time (0940 GMT), with no overs lost at that stage.Teams<br/> England: James Vince, Jason Roy, Joe Root, Eoin Morgan (captain), Jonny Bairstow, Jos Buttler (wkt), Chris Jordan, Chris Woakes, David Willey, Liam Plunkett, Adil RashidSri Lanka: Kusal Perera, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal (wkt), Angelo Mathews (captain), Seekkuge Prasanna, Upul Tharanga, Dasun Shanaka, Chaminda Bandara, Nuwan Pradeep, Suranga LakmalUmpires: Paul Reiffel (AUS), Michael Gough (ENG), TV umpire: Bruce Oxenford (AUS)<br/> Match referee: David Boon (AUS)�
 South Africa�s Hashim Amla and Dwayne Bravo of the West Indies set a new world record for a fifth-wicket stand in Twenty 20 cricket of 150 in the Caribbean Premier League on Friday.</strongThe pair put on their match-winning partnership in 92 balls for the Trinbago Knight Riders against the Barbados Tridents at Queen�s Park Oval.Amla went on to score 81 from 54 balls having brought up his half century from 42 balls.Bravo made an undefeated 66 with both men hitting four sixes.They took their side from what looked like certain defeat to victory in 15.2 overs.Trinidad made 170-5 off their 20 overs before restricting Barbados to 159-8 for an 11-run win.The previous record for a fifth-wicket partnership in T20 cricket was 149 set by Yogesh Takawale and Sairaj Bahutule in the Indian Premier League in 2007.
 Reigning champion Chris Froome says this year�s Tour de France is made for the specialist climbers, but it begins on Saturday with a flat stage favouring sprinters.Saturday�s �Grand Depart� takes place at the picturesque tourist resort of Mont Saint-Michel, before finishing 188km later at Utah Beach, made famous as one of the main sites of the Normandy Landings during World War II.One of the big favourites for the opening stage is German sprint king Marcel Kittel, back at the Tour after a one-year injury and illness induced hiatus.Having won the opening stage in 2013 and 2014, Kittel is gunning for a hat-trick, but he knows it will be tough.The other main favourite is his countryman Andre Greipel, who won four stages last year in Kittel�s absence.Neither Englishman Mark Cavendish, who is third on the all-time list of Tour stage wins with 26, nor world champion Peter Sagan of Slovakia can be discounted.A breakaway group will likely animate the first stage, but the sprinters� teams will never let them far off the leash and will take no chances in reeling them before setting up a fast, furious and perhaps manic bunch finish.Two years ago, Cavendish crashed in just such a mass sprint, breaking his collarbone and being forced out of the Tour.It will take a week for the first true test of the overall contenders to arrive on the seventh stage from l�Isle-Jourdain to Lac de Payolle.From there on there will be four summit finishes, seven hors category climbs and 14 first category ones.Many people believe the overall battle will turn out to be a two-way struggle between Froome and Colombian Nairo Quintana, who finished second to the Briton in both 2013 and last year.
 Hal Robson-Kanu scored a sensational goal as Wales came from behind to stun Belgium 3-1 in Friday�s Euro 2016 quarter-final in Lille and reach their first major tournament semi-final.Radja Nainggolan gave Belgium a 13th-minute lead, but Ashley Williams equalised before a dazzling strike from Robson-Kanu, whose contract with English second-tier club Reading expired on Thursday, and a late header by substitute Sam Vokes earned Wales a historic victory.Wales talisman Gareth Bale will now go head-to-head with his Real Madrid team-mate Cristiano Ronaldo when the tournament�s last British representatives face Portugal in Lyon on Wednesday."Dreams, don�t be afraid about dreams, because four years ago I was as far away from this as you can imagine and look what has happened," said Wales manager Chris Coleman, who succeeded his late friend Gary Speed as manager in 2012."If you work hard enough and you are not afraid to dream and not afraid to fail, this happens. It�s sweet and I�m enjoying it."In beating Belgium, who they also defeated in qualifying, Coleman�s men surpassed the Wales greats of 1958, whose quarter-final showing at that year�s World Cup in Sweden had been the country�s best previous achievement.But they will have to do without both Ben Davies and Aaron Ramsey, who set up two of the Wales goals, after they received bookings that ruled them out of the semi-final.Belgium coach Marc Wilmots will face difficult questions about his failure to achieve more with one of his nation�s finest collections of footballers, who also fell in the last eight at the 2014 World Cup.He was missing three of his four first-choice defenders -- Vincent Kompany and Jan Vertonghen through injury, Thomas Vermaelen through suspension -- but with no other previous tournament-winners in this half of the draw, defeat represented a massive missed opportunity.Heavy pre-match downpours in Lille heightened fears about the pitch, which was relaid just a week ago, but the slick playing surface held firm and provided the platform for an electrifying game.
 World number one and defending champion Novak Djokovic was facing Wimbledon humiliation on Friday before rain saved him from his worst defeat at the tournament since 2008.The three-time champion, who is already halfway to the first calendar Grand Slam in 47 years, dropped the first two sets of his third round clash against American 28th seed Sam Querrey 7-6 (8/6), 6-1.But after just 73 minutes of action, rain sent them running for cover off Court One, giving 12-time major winner Djokovic welcome sanctuary before play was called off for the day on the outside courts. By that stage, only 17 of the scheduled 32 ties had been completed.Djokovic, who has an 8-1 record over Querrey, has made at least the quarter-finals on his last seven visits to Wimbledon since losing to Marat Safin in the second round eight years ago.He has also made the last eight of each of the last 28 Grand Slams since losing to Philipp Kohlschreiber in the third round of the 2009 French Open.Meanwhile, Serena and Venus Williams survived marathon duels as the rain, which has plagued the tournament, forced organisers to consider playing on the middle Sunday for the first time since 2004.World number one and defending champion Serena defeated US compatriot Christina McHale 6-7 (7/9), 6-2, 6-4 on Centre Court, only just avoiding what would have been her earliest-ever Wimbledon defeat.The six-time Wimbledon champion will face Germany�s Annika Beck for a place in the last 16.
 France coach Didier Deschamps handed Samuel Umtiti his international debut as the Euro 2016 hosts made two enforced changes for Sunday�s quarter-final against Iceland in Paris.</strong><br/><br/>Umtiti, 22, who is set to join Barcelona from Lyon later this month replaces the suspended Adil Rami in central defence alongside Laurent Koscielny.<br/><br/>Moussa Sissoko comes in for N�Golo Kante, who is also serving a one-match ban, on the right side of midfield with Deschamps opting for a 4-2-3-1 at the Stade de France.<br/><br/>Iceland became the first nation to use the same starting XI for their first five matches at the European Championship as joint-coaches Lars Lagerback and Heimir Hallgrimsson kept faith with the side that beat England 2-1 last Monday.<br/><br/>Starting line-ups for the Euro 2016 quarter-final between France and Iceland at Stade de France in Paris on Sunday (1900 GMT kick-off):France (4-2-3-1)<br/>Hugo Lloris (capt); Bacary Sagna, Samuel Umtiti, Laurent Koscielny, Patrice Evra; Blaise Matuidi, Paul Pogba; Moussa Sissoko, Dimitri Payet, Antoine Griezmann; Olivier Giroud<br/>Coach: Didier Deschamps (FRA)Iceland (4-4-2)<br/>Hannes Halldorsson; Birkir Saevarsson, Ragnar Sigurdsson, Kari Arnason, Ari Skulason; Johann Gudmundsson, Aron Gunnarsson (capt), Gylfi Sigurdsson, Birkir Bjarnason; Jon Dadi Bodvarsson, Kolbeinn Sigthorsson<br/>Coaches: Lars Lagerback (SWE) and Heimir Hallgrimsson (ISL)/>Referee: Bjorn Kuipers (NED)
 Germany won an epic shootout featuring 18 penalties by 6-5 to end their jinx against Italy in major tournaments and reach the Euro 2016 semi-finals after the game finished 1-1 following extra time on Saturday.</strongJonas Hector was Germany's hero when he fired home the winning penalty, after Matteo Darmian missed for Italy, and they will now face either hosts France or Iceland in the last four.The shootout featured seven misses with some near-farcical spot kicks and was a complete contrast to the tense, tactical and highly-disciplined 120 minutes of football that preceded it.The usually clinical Germans, who had not missed in a shootout since the 1982 World Cup, failed to convert three times but still progressed thanks to even more wayward shooting by Italy who sent two kicks wide and had two saved by Manuel Neuer.Germany, who in their semi-final on Thursday, have now won their last six shootouts at major tournaments since losing to Czechoslovakia in the 1976 European Championship final."It's difficult to find the words. I'm overjoyed that the ball went in," said Hector. "I can't describe the feeling. I took my heart in my hands and just wanted to knock it in."Germany coach Joachim Loew added: "I congratulated him (Hector). It was a very special situation. I had a good feeling when he was taking his (penalty) shot."strong>BIZARRE HANDBALL</strongMesut Ozil had given Germany the lead midway through the second half before Leonardo Bonucci replied with a penalty following a bizarre handball by Jerome Boateng.Germany, who reached their sixth successive semi-final in a major tournament, had never previously beaten Italy at a major finals -- a run stretching back to the 1962 World Cup.Italy's four wins included a World Cup final and two semis and the Euro 2012 semi-final. The other four games were drawn.For Italy, the defeat was the end of the road in a campaign which has already taken them further than expected, with impressive wins over dark horses Belgium and holders Spain.Coach Antonio Conte has been credited with overcoming the lack of natural talent in his squad through tactical discipline and hard work but, with key midfielder Daniele De Rossi joining the injured list, Germany proved to be a bridge too far."The players have left a significant mark on this tournament and shown that with desire and hard work, you can achieve something," said Conte."Football can bring you joy and can leave a bad taste in your mouth. The players will always have a place in my heart.�strong>TENSE START</strongThe first half was as tense, tactical and cagey as expected between teams who had conceded one goal between at these finals.Germany's passing was slicker, though, and they went ahead the 65th minute when Hector's pass into the area was deflected off Bonucci and fell perfectly for Ozil to guide into the net.It seemed that might be enough to win the game but Italy equalised out of the blue 13 minutes later.Alessandro Florenzi curled the ball into the area, Boateng jumped to challenge Giorgio Chiellini with his arms raised like a basketball player and the ball hit the German's arm.Bonucci fired a superb penalty low into the bottom right hand corner, beyond Neuer's reach.Italy suddenly found a new lease of life as striker Graziano Pelle had a shot deflected wide following a quick break and Mattia De Sciglio fired into the side-netting.Little happened in extra time but the shootout was one of the most eventful ever seen at a major tournament.Simone Zaza, who sent his kick high and wide after an unorthodox run-up, Pelle, Bonucci and Darmian missed for Italy, while Thomas Mueller, Ozil and Bastian Schweinsteiger fluffed their lines for Germany before Hector sealed the victory.
 Spain�s Carlos Pigem claimed his first professional title after beating Japan�s Shunya Takeyasu in a play-off at the $500,000 Yeangder Tournament Players Championship in Taiwan.With a four-day total of 12-under-par 276, Pigem and Takeyasu battled it out at the Linkou International Golf and Country Club.The 25-year-old Spaniard gained confidence early in the play-off when his second shot on the par-five 18 landed in the middle of the fairway while Takeyasu�s fell into the rough.An emotional Pigem knew the title was his when the Japanese�s fourth shot only touched the edge of the green."Play-offs are always going to be a 50-50 affair," said Pigem, who turned pro in 2013."I�m really at a loss for words. I cried when I sunk that birdie putt on the play-off hole," he added."That feeling of winning my first professional title here at the Yeangder TPC is simply indescribable," he said.Australia�s Scott Barr who took a solo third-round lead finished tied for third place with Malaysia�s Nicholas Fung.�
 Pakistan captain Misbah-ul-Haq won the toss and elected to bat against Somerset at Taunton in his country�s first first-class match on English soil since their controversial �spot-fixing� tour of 2010.During that year�s Test against England at Lord�s, Mohammad Amir and Pakistan new-ball partner Mohammad Asif bowled no-balls to order on the instructions of their captain Salman Butt as part of a sting operation carried out by a tabloid newspaper.All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.However, Amir returned to international cricket earlier this year and could make his Test comeback at Lord�s where Pakistan face England in the first of a four-Test series on July 14.Amir was included in the Pakistan side selected for the Somerset match.Taunton was the venue for Pakistan�s first match after the 2010 controversy at Lord�s with the tourists thn playing Somerset in a one-day match.This fixture is Pakistan�s first of two three-day games before the first Test at Lord�s, with Misbah�s men playing Sussex at Hove from July 8-10.Teams<br/> Somerset: Marcus Trescothick, Adam Hose, Tim Rouse, James Hildreth, Peter Trego (captain), Alex Barrow (wkt), Josh Davey, Dom Bess, Jack Leach, Tim Groenewald, Paul van MeekerenPakistan: Mohammad Hafeez, Shan Masood, Azhar Ali, Younis Khan, Misbah-ul-Haq (captain), Asad Shafiq, Sarfraz Ahmed (wkt), Mohammad Amir, Sohail Khan, Yasir Shah, Rahat AliUmpires: Billy Taylor (ENG), Tom Lungley (ENG)�
 �The International Cricket Council (ICC) will apply for the inclusion of women�s cricket at the 2022 Commonwealth Games in Durban, South Africa, the governing body has said.Cricket has struggled to venture into new markets away from its traditional strongholds and the influential Indian board�s reluctance to embrace multi-sports events as a means to increase exposure has hindered growth.Following a presentation by the Commonwealth Games Federation, the ICC board agreed to apply for a women�s competition at the Durban Games during its annual conference in Edinburgh on Saturday."It will enhance the profile of the sport and create additional exposure and experiences for female cricketers," ICC chairman Shashank Manohar, a former head of the Indian board, said in a statement.South Africa won the men�s event when cricket took place at the 1998 Commonwealth Games in Malaysia, the only time the sport has been included in the programme.The Asian Games remains the largest multi-sports event that features cricket and the last two editions included both men�s and women�s competitions.<br/> The ICC has also been exploring the possibility of getting cricket added to the Olympic programme."There will be further discussions on cricket�s potential participation in the Olympic Games following further meetings with the International Olympic Committee (IOC) later in the year," the governing body said.President of the Italian board Simone Gambino told ESPNcricinfo on Friday that cricket would be included in the 2024 Olympics should Rome win the bid to host the Games.�
 India's new head coach Anil Kumble admires test captain Virat Kohli's aggression and will not try to curb his natural instincts.</strongThe 27-year-old Kohli replaced Mahendra Singh Dhoni as India's captain in the longest game's format after the wicketkeeper-batsman's retirement from test cricket during the tour of Australia in late 2014.The Delhi cricketer was initially perceived as another brash personality from the streets of a city long accused of encouraging aggression in its youth, having often been involved in wars of words with opponents on the field.Former India captain Kumble's appointment as coach was welcomed by many who expect the former leg-spinner to be a calming presence in a team led by an expressive captain."I love his aggression," Kumble told reporters sitting alongside Kohli. "I was no different, I was also aggressive, very different in terms of the way we probably came across on the field."But you don't want to curb aggression. I will be the last person to curb someone's natural instincts," Kumble added."But we all know how important it is to be ambassadors of India and to be a part of the Indian cricket team. That everybody understands. We will ensure that there is a thin line and everybody knows that."India will play four tests against West Indies and after returning from the Caribbean the world's second-ranked side are set for a busy season at home when they will play 13 test matches, eight ODIs and three T20 internationals."It will be one test match at a time. It's a long season, we have the opportunity to plan well," Kohli told reporters ahead of the team's departure for the West Indies."It will be an opportunity for the team to gel together and execute our plans," he added."It will be the perfect situation and opportunity to challenge and assess ourselves as a test team. I feel these few months will determine how India play test cricket in the next few years."Kumble, India's most successful bowler, capturing 619 wickets in 132 tests and 337 in 271 one-day internationals, has just overseen a six-day training camp in Bengaluru."Our intention will always be to go for wins," Kohli said. "There have been situations in the past where we have lost while trying to go for wins."But we lost due to our mistakes. We have realised we reached that position playing 80 percent good cricket. Now we are focusing on rectifying the remaining 20 percent and continue to play positively."
 Mohammad Amir marked his return to cricket in England with two wickets in quick succession against Somerset at Taunton on Monday.</strongLeft-arm fast bowler Amir�s exciting career came to a shuddering halt at Lord�s in 2010 when, during a Test against England, he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a a tabloid newspaper sting operation.All three received five-year bans from cricket and jail terms.But the 24-year-old Amir is now back in England with the Pakistan squad and could make his return to Test cricket in the first of a four-match series at Lord�s on July 14.After Pakistan had made 359 for eight declared on the second morning of three in their tour opener, Amir took the new ball.Despite suggestions from England captain Alastair Cook that spectators might jeer Amir, there was nothing but polite applause from a modest crowd for the 24-year-old paceman.Former England opener Marcus Trescothick blocked his first ball and took two fours off Amir�s opening over.But Amir struck with his 14th ball back on English soil when he produced a superb outswinger that moved late to Trescothick, then on eight, which the left-hander edged behind, with wicket-keeper Sarfraz Ahmed holding an excellent diving catch.Amir struck again when an inswinger bowled Adam Hose.Hose, making his first-class debut and probably never having faced bowling of this quality before, was out for 10 and Somerset were 23 for two.At this staged Amir had taken two wickets for six runs in 11 balls.During Pakistan�s innings, there as an ironic moment when the first delivery Amir faced was a no-ball from Somerset and Scotland seamer Josh Davey.Next ball, Amir was caught behind off Davey for a duck.
 Germany's holding midfielder Sami Khedira will miss their Euro 2016 semi-final against hosts France on Thursday after he sustained an adductor muscle injury in their quarter-final win over Italy, coach Joachim Loew said on Monday.</strongKhedira, who had played in every match of the tournament so far, was taken off early in that game after overstretching during a challenge for the ball."Sami Khedira won't play for us on Thursday. We will do everything for him to be available for a potential final," Loew told reporters.Germany are already without suspended Mats Hummels and injured striker Mario Gomez, out for the rest of the tournament after also being injured against Italy.
strong>Iceland failed to use their brains in Sunday's 5-2 defeat to France at Euro 2016, joint coach Lars Lagerback said, though he spoke with pride of the team�s achievements in getting to the quarter-finals in their first tournament appearance.</strongFrance romped into a 4-0 halftime lead in the last of the quarter-finals and though the Icelanders showed commendable spirit to fight back after the break another shock after their victory over England never looked likely.�The first half looked like the playoff second leg against Croatia for the (2014) World Cup. We didn't handle it well mentally,� Lagerback said in reference to that 2-0 Zagreb defeat after a goalless first leg.�It�s some kind of mental thing that happened to the players. We weren't using our brains, we didn't play our normal way.�Part of it is that France were very good but we weren't sharp enough in our decision-making. We made some silly mistakes, and we didn't do well as a team," added Lagerback, who is now handing over the reins completely to current partner Heimir Hallgr�msson after four-and-a-half years."It's really impressive that the players turned it around as they did and I don't think it was because France let us do that."They showed a bit of the real Icelandic attitude in the second half.�However, Lagerback was full of pride and praise for the way the players had performed through the month, when they won one and drew two group games before shocking England in Nice.�It�s been a fantastic tournament so it�s a big thank you to everyone,� said the former Sweden coach.�It's been a fantastic journey for me. I've enjoyed -- maybe not the first 45 minutes today -- but all my time in Iceland and it's been a privilege to be involved.�If you look at the whole tournament, and to reach the quarter-finals, it�s been fantastic."Captain Aron Gunnarsson said the team had been determined to not go out on the wrong end of a thrashing."The first half was terrible but the second half we played better," he said. "We decided we couldn't leave the competition like that and I think we saved face."We're disappointed but still incredibly proud. It's been such an amazing experience."It's been a lot of hard of work and the supporters have been fantastic. They're still singing, it's just unbelievable."
 Tammy Beaumont and Lauren Winfield produced another dazzling opening partnership of 147 - England Women's highest stand in T20s - to set up a 68-run victory in the first T20 at Bristol.Beaumont made 82 off 53 balls and Winfield 74 off 45 to lead England to their highest total in the format. It followed their 235-run opening stand in the second ODI at New Road when they both hit centuries.Beaumont reached her fifty off 30 balls, and having moved to 82 with nearly five overs remaining had time to score England's first T20I century before falling lbw as she attempted a reverse-sweep, meaning Charlotte Edwards' unbeaten 92, against Australia at Hobart, remained England�s best.Like Beaumont, Winfield struck 10 fours and also a six off Sadia Yousuf and her final score equalled her career-best, having also made 74 against South Africa in 2014.At 146 for 0 in 15 overs, 200 was within reach for England but the last five overs were not quite as fluent as the first 15. The 16-20-over block had fewer runs - 41 - than the other five-over breakdowns.The final over included a team hat-trick for Pakistan as Nat Sciver edged a swipe, Danni Wyatt was run out and Heather Knight feathered a reverse-sweep to the keeper.A target of 189 was, unsurprisingly, well out of reach for Pakistan and England's bowling was not stretched in defending the target. Four of the wickets fell to full-tosses, the third of them giving 17-year-old debutant Sophie Ecclestone, a left-arm spinner, her first international wicket when Sidra Ameen picked out deep midwicket.Asmavia Iqbal struck some powerful blows to finish as top-scorer -- including the one six of the innings, which was Pakistan's first of the tour - before being bowled by Danielle Hazell in the final over.�
 England captain Alastair Cook believes Pakistan�s Mohammad Amir will face a tough reception from fans should he return to Test cricket at Lord�s later this month.</strongLeft-arm fast bowler Amir�s exciting career came to a shuddering halt at Lord�s in 2010 when, during a Test against England, he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a sting operation carried out by a tabloid newspaper.All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.Amir, who served three months in an English young offenders institute, has only featured in the game�s shorter formats since his return to Pakistan duty in January.But the 24-year-old�s career could come full circle when the first of a four-Test series against England starts at Lord�s on July 14.Pakistan captain Misbah-ul-Haq has backed Amir, currently playing in the team�s opening tour match against Somerset in Taunton, to become the best bowler in the world.But Cook says he will likely have to deal with some taunts from spectators first."I�m sure there will be a reaction and that is right," said Cook at a sponsor�s event."That is part and parcel, that when you do something like that there are more consequences than just the punishment -- that is something for him to cope with, whatever comes his way."Opening batsman Cook, who played in the controversial 2010 Lord�s Test, added: "It won�t affect us as a side, we will concentrate on what we can concentrate on."The media will ask questions about it but it will not affect us."strong>- �One strike� -</strongMeanwhile Cook reiterated his call for future fixers to be hit with life-bans while saying he had no qualms about playing against Amir again."Whether I agreed or disagreed with the punishment, he got it, served his time and he is absolutely right to come back."You�d have to speak to him. What he did wasn�t good, but he served his punishment then."It hasn�t happened and the ICC (International Cricket Council) haven�t made any big statements, but if I was in charge if you got caught once that would be it - one strike and you�re out."England paceman Stuart Broad made his highest Test score of 169 during the now infamous match at Lord�s, an innings that was quickly overshadowed by the spot-fixing furore.However, Broad told Britain�s Mail on Sunday newspaper: "In Amir�s case I certainly have no hard feelings about playing against him again."What he did was wrong but he was extremely young and maybe not aware of the consequences. The reality is he�s back in the game and has served his time."Broad added: "I have a little bit of sympathy for Amir but once you�ve received money to do something illegal that is always a bad thing."We are very well-educated by the ICC�s anti-corruption unit, but at 18 years old you are potentially more vulnerable and susceptible to your elders."Broad, however, agreed with Cook that life bans were the best deterrent to spot and match-fixing."I am strongly of the view that one of the only ways we will ever expel this awful disease from our game is to hand out lifetime bans for any kind of fixing," said Broad.
 Bangladesh is hopeful England will go ahead with their planned tour of the South Asian country later this year despite Friday's attack by gunmen at an upmarket Dhaka restaurant that left 20 dead.</strongA spokesman of the England and Wales Cricket Board has said the ECB would follow government advice on the trip to Bangladesh for three one-day internationals and two tests from Oct. 7 to Nov. 1."It is a very unfortunate incident for Bangladesh. We never imagined such a thing could happen in this country," Bangladesh Cricket Board (BCB) president Nazmul Hassan told local media."I have seen England's reaction, which is quite normal. We would have done the same thing if we were in their position."Even after the Paris attacks, the game didn't stop there. Sport will go on. England are coming after three months, by which time the situation in Bangladesh will get better."BCB chief executive Nizamuddin Chowdhury was not available for comment to confirm if they had received any communication from their English counterparts.Security concerns have been a major issue in the region, starving Pakistan of international sports at home while the Australian cricket team postponed their Bangladesh tour last year following a warning from their government."It's very hard to say which place is safe and which is not," Hassan added."Whatever the situation is, I've always said that our security has to be strengthened. We have to provide maximum security. I don't see any reason why sport should be stopped."
 France's players immediately turned their minds to a semi-final with Germany on Thursday after putting Iceland to the sword in a 5-2 win at Euro 2016.</strongFour goals in the first half helped France progress to their first semi-final in a major tournament since 2006 and they will now face world champions Germany in Marseille on Thursday."We are into the last week and I'm very happy about that," said Didier Deschamps. "Germany are the best team. There is no doubt about that even if they had a few frights against Italy, who stopped them playing.""But we are in the final four and we will go for it against the best team in the world."France will try to beat the world champions in a competitive game for the first time since the 1958 World Cup, although they beat them in a friendly last November on the night that Islamist militants struck in Paris.France will be seeking revenge for World Cup semi-final losses in 1982 and 1986 and most recently a 1-0 quarter-final defeat at the 2014 World Cup in Brazil."We had the ambition to win and start the game well which we did. We were able to score a lot which was good for confidence," said midfielder Dimitri Payet, who scored his third goal of the tournament."We now face the world champions and know what to expect. We need to rest and use what we learnt tonight."Man-of the-match Olivier Giroud hailed the team performance, but warned that they would still need to improve at the back against Germany."We need to cut out these small defensive mistakes, because against Germany it would cost us a lot," said the striker."Are we confident? No. They are the world champions and favourites, but we want to write a new chapter in French football history."Former France international David Ginola said this France team had perhaps finally shown its worth."Even if it's against Iceland, from the start I felt they were concentrated and I could see a different attitude to previous games. There was a certain maturity in the middle of the park," he said.For Iceland the fairytale ended, but even after more than 80 minutes their fans, who have won so many friends since the tournament started, could still be heard backing their men."The first half was terrible but the second half we played better, we decided we couldn't leave the competition like that," said Iceland captain Aron Gunnarsson."Disappointed but still incredibly proud, it's been such an amazing experience, it's been a lot of hard work and the supporters have been fantastic. They're still singing, it's unbelievable. The French have all left, the Icelandic fans cheer you on like you've won the championship."
 Younis Khan made an unbeaten 99 while Mohammad Amir was left waiting in the wings as Pakistan launched their tour of England with 324 for five on the opening day of three against Somerset on Sunday.</strongThis was Pakistan�s first first-class match on English soil since their controversial "spot-fixing" tour of 2010.During that year�s Test against England at Lord�s, Amir and Pakistan new-ball partner Mohammad Asif bowled no-balls to order on the instructions of their captain Salman Butt as part of a sting operation carried out by a tabloid newspaper.All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.<br/>However, Amir returned to international cricket earlier this year and could make his Test comeback at Lord�s, where Pakistan face England in the first of a four-Test series from July 14.Although selected for the Somerset match, his return to action in England was delayed when Pakistan captain Misbah-ul-Haq won the toss and batted."He�s prepared very well," said Younis of Amir, after stumps at southwest county Somerset�s Taunton headquarters."If he can perform against England, a top team, it will be very nice for him. "Pakistan need him to bowl well and he�s shown what kind of character he has."/><strong>�Happy man of the earth�</strongExperienced 38-year-old batsman Younis, who has had spells with several English teams including reigning county champions Yorkshire, added: "Any teams that come to England struggle against their bowling attack here."We know it won�t be easy, but we are prepared. "It would be very fantastic for me (to win the series).<br/>"If I perform, I will be the happy man of the earth." After Misbah fell for a duck, Younis and Asad Shafiq (80) shared a fifth-wicket stand of 179.Pakistan opener Mohammad Hafeez made a lively start as he hooked Somerset and Scotland paceman Josh Davey over fine leg and pulled him over mid-wicket for two sixes in as many balls.But Dutch bowler Paul van Meekeren, who only joined Somerset last week, made the breakthrough when he bowled Hafeez for 20.Pakistan were 79 for one at lunch but lost three wickets in the second session against Somerset�s multi-national attack that also featured a South African in paceman Tim Groenewald.Azhar Ali (20) was well caught by diving wicket-keeper Alex Barrow off van Meekeren. Left-handed opener Shan Masood, missed on 17 and 39, batted attractively until he was lbw to Groenewald for 62.Two balls later Groenewald had Misbah out for a duck with the aid of a fine slip catch by Tim Rouse.<br/>The luckless Davey went wicketless after former England batsman Marcus Trescothick dropped a tough slip catch when Younis was on 20.Younis went to fifty when he swept off-spinner Dom Bess, making his first-class debut, for a seventh four in 105 balls.Shafiq also went to the landmark with his seventh four, but in 69 balls, when he late-cut left-arm spinner Jack Leach.There was more bad luck for Davey when Younis�s inside edge on 75 evaded the diving Barrow.<br/>Shafiq�s 120-ball innings ended when he was well caught by Bess at point off Leach.It seemed Younis would get to his 53rd first-class century before stumps. But instead he was left one run shy of a hundred, with Sarfraz Ahmed (six not out) unable to get off strike.This fixture is Pakistan�s first of two three-day games before the first Test at Lord�s, with the Pakistanis also playing Sussex at Hove from July 8-10.
Olivier Giroud scored two goals and set up another as the Euro 2016 hosts France thrashed Iceland 5-2 on Sunday to set up a semi-final clash against world champions Germany.</strongGiroud fired France ahead after just 12 minutes at a rain-drenched Stade de France with Paul Pogba then heading in his first goal of the tournament to double the hosts� lead.Dimitri Payet struck two minutes before half-time to put France in complete control and Antoine Griezmann raced clear to add a fourth to round out France�s first-half blitz.Iceland, who beat England 2-1 to reach the last eight, put on another never-say-die performance. Kolbeinn Sigthorsson and Birkir Bjarnason grabbed second-half consolation goals either side of Giroud�s second but Iceland were overpowerd by France�s domination.Didier Deschamps� men will take on Germany in Marseille on Thursday for a place in the final, while Iceland will return home as heroes after a remarkable run in their first appearance at a major tournament."Germany are the best team, there is no doubt about that, even if Italy gave them a few scares. But we are there in the final four," said Deschamps.Iceland, who had never beaten France in 11 attempts, kept faith with the side that shocked England, making European Championship history as the first team to name an unchanged line-up for their first five matchesSamuel Umtiti became the first French outfield player to make his international debut during a major finals since 1966 as the Barcelona-bound defender replaced the suspended Adil Rami.Moussa Sissoko filled in for N�Golo Kante, who was also serving a one-match ban, on the right side of midfield as Deschamps stuck with the 4-2-3-1 that helped France fight back to beat the Republic of Ireland in the last 16.�
 Yasir Shah took four wickets and Azhar Ali made a century but Pakistan were denied victory as their England tour opener against Somerset ended in a draw.</strongLeg-spinner Shah took four for 107 in 32 overs as Somerset, set an improbable 468 for victory, finished on 258 for eight at Taunton on Tuesday.Jack Leach (six not out) and Tim Groenewald (four not out) survived the last 16 balls of this three-day fixture.Earlier, veteran former England opener Marcus Trescothick made his 47th first-class hundred for Somerset.That equalled West Indies great Vivian Richards�s tally for the south-west county and left the 40-year-old Trescothick just two shy of Harold Gimblett�s Somerset record of 49 first-class centuries.Pakistan resumed Tuesday on 140 for four, with Azhar Ali 50 not out and Asad Shafiq unbeaten on 26.Ali went on to make 101 not out and shared a stand of 138 in 30 overs with Shafiq (69 not out) as Pakistan made 236 for four declared in their second innings.As soon as Ali had gone to his century, in 168 balls including 12 fours and two sixes, Pakistan captain Misbah-ul-Haq closed the innings.Adam Hose was out off what became the last ball before lunch when he was lbw to Shah for eight after he missed a quick, straight ball.strong>- Rapid Amir -</strongTim Rouse had made 14 when, taking his eye off the ball, he ducked into a rapid Mohammad Amir delivery and was struck on the helmet.A concerned Amir raised his hand in apology and Rouse, who changed helmets, needed at least five minutes of on-field treatment before resuming his innings.But soon afterwards he gamely cover-drove Amir for four.Amir�s exciting career came to a shuddering halt during a Lord�s Test in 2010 when he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a tabloid newspaper sting operation.But the 24-year-old Amir is now back in England and could make his Test return in the first of a four-match series at Lord�s on July 14.This was Amir�s maiden first-class match in England since the spot-fixing row and he took three for 36 in Somerset�s first innings, swinging the ball at sharp pace.Trescothick was caught behind off Amir for just eight in the first innings but, with sunny conditions favouring batsmen, drove him down the ground on Tuesday.Rouse fell in similar fashion to Hose when he was lbw to Shah�s quicker ball after making a gutsy 41 on his Somerset first-class debut and sharing a stand of 98 with Trescothick.Trescothick was 95 not out at tea, with Somerset 157 for two.The left-hander drove Shah for a single to go to a 105-ball century with 18 fours and a six.Trescothick was out soon afterwards, for 106, when he flat-footedly drove at a wide delivery from Rahat Ali and was caught behind.Somerset�s 183 for three soon became 226 for six, with Peter Trego playing on to Rahat Ali for a duck and James Hildreth (48) caught behind off Amir -- his lone wicket on Tuesday.Shah had Josh Davey dropped when Amir floored a simple catch at mid-off before bowling the Scotland paceman to leave Somerset 234 for seven.After several close calls, teenager Dom Bess eventually fell lbw to Shah for 27.That left Somerset 251 for eight but Pakistan were unable to force a victory.Pakistan now have one more three-day game, against Sussex at Hove starting Friday, before the first Test.
 Azhar Ali made an unbeaten century to strengthen Pakistan�s position on the final day of their England tour opener against Somerset at Taunton on Tuesday.</strongAli (101 not out) and Asad Shafiq (69 not out) shared a stand of 138 in 30 overs as Pakistan made 236 for four declared in their second innings.That left Somerset needing a huge total of 468 in 73 overs for victory.But given Somerset had collapsed to 128 in their first innings, with left-arm paceman Mohammad Amir taking an impressive three for 36, just holding out for a draw would be a fine achievement for the south-west county.However, a sunny day at Taunton meant there was less swing in the air for Pakistan�s pacemen than earlier in the match.Veteran Somerset opener Marcus Trescothick, the former England batsman, drove both Amir and Sohail Khan down the ground.He also late cut Khan for a couple of fours.At lunch, Somerset were 47 for one with 40-year-old left-hander Trescothick 37 not out.But first-class debutant Adam Hose was out off what became the last ball before lunch when he was lbw to leg-spinner Yasir Shah for eight after he missed a ball that went straight on.Pakistan resumed Tuesday on 140 for four, with Ali 50 not out and Shafiq unbeaten on 26.Shafiq went on to complete a 76-ball fifty with seven fours.The pair were especially severe on Somerset�s spinners on Tuesday, with the 31-year-old Ali hoisting teenager Dom Bess for two huge sixes over long-on in successive balls.As soon as Ali had gone to his 26th first-class century, in 168 balls including 12 fours and two sixes, Pakistan captain Misbah-ul-Haq declared.Amir took three for 36 in 11 overs in Somerset�s meagre first innings.Amir�s exciting career came to a shuddering halt during a Lord�s Test in 2010 when he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a tabloid newspaper sting operation.All three received five-year bans from cricket and together with sports agent Mazhar Majeed, jail terms.Amir, who served three months in an English young offenders institute, has only featured in the game�s shorter formats since his return to Pakistan duty in January.But the 24-year-old left-armer is now back in England and could make his Test return in the first of a four-match series at Lord�s on July 14.
 Serena Williams made the most of a break in her match against 13th seed Svetlana Kuznetsova on Monday, when the Centre Court roof was closed after she threatened to sue organisers if she fell and injured herself on the slippery turf.</strongThe world number one, who subsequently made light of the threat, began as if late for an Independence Day appointment, serving a succession of aces and then hitting a brace of groundstroke winners to break her opponent in the fourth game.Bidding to equal Steffi Graf's professional-era record of 22 grand slam titles, Williams failed to keep up the momentum and found herself 5-4 down when the Russian broke with a crosscourt backhand winner that left the American sprawled on the ground.But the Russian, herself a double grand slam winner and three-times Wimbledon quarter-finalist, failed to serve out the set.With drizzle imminent, a ballboy losing his footing and both players complaining about the slippery conditions -- and with Williams threatening to sue if she got injured -- the match was suspended at 5-5 for the roof to be closed.After the encounter the American said the comment was not meant seriously."What I say on the court, whether it's smashing my rackets, it's in the heat of the moment," said the American, who picked up a $10,000 fine for racket abuse in an earlier match at the tournament."I have no plans, no future of suing Wimbledon. Let's get serious. That's not what I do."strong>COOLING OFF</strongAs well as having a chance to cool off, Williams was able to refocus her game with coach Patrick Mouratoglou and did not drop a single game after play resumed."I had a little time to think about it and just calm down... I think that really helped me out a lot. I talked to Patrick. He gave me some tips on what I could do," she said.Kuznetsova beat Williams on a hardcourt at the Miami Open in March and, prior to the break, was more than holding her own. She frustrated the American by varying her pace well and mixing in slices and dropshots.Whatever words of wisdom Mouratoglou imparted, the six-times Wimbledon champion was too hot to handle after the break, reeling off the last eight games in a 7-5 6-0 win.The number one seed faces another Russian, Anastasia Pavlyuchenkova, in the quarter-finals, where she was joined for the first time since 2010 by older sister Venus."It's great," the younger Williams said. "She's been doing a lot of improvements. That's been really good for her and super encouraging for me."
 Pakistan�s former fast bowler Shoaib Akhtar has laughed off claims by Harbhajan Singh that he and Yuvraj Singh were once beaten by the pacer in a hotel room in Pakistan.</strong"I think he has made a big deal of it. Yes, it did happen during 2004 when we were playing a Test in Rawalpindi. But it was nothing serious and all fun," Akhtar clarified."Basically we were doing some arm wrestling and that is all," Akhtar said. Harbhajan narrated the incident during a show on an Indian television channel and his claims were highlighted by Pakistani media.Harbhajan said �in an Indian Tv show that former Pakistan fast bowler Shoaib Akhtar was a player with whom he often had spat with though they were friends off the field.�Shoaib abused me a lot. He used to sit with us, ate with us. Since he was too close to us, maybe he used to take us for granted. He challenged me once to hit a six and when I hit a six, he was shocked. He then bowled two consecutive bouncers which I evaded. He then abused me and I replied back. But after the game, we sat together as if nothing happened.�Shoaib once threatened me he would come to my room and beat me. I told him come, let�s see who beats whom. I was really scared. He is a great hulk. He once bashed me and Yuvi (Yuvraj Singh) inside a room. Since he was heavy, it was difficult to catch him,� Harbhajan said.
 Spanish champions Barcelona have exercised the buy-back clause to re-sign midfielder Denis Suarez from Villarreal, the Catalan club announced on Monday.</strongThe 22-year-old has signed a four-year contract with an option of extending it for a further year after Barcelona agreed to pay 3.25 million euros ($3.62 million) to re-sign Suarez, whose buy-out clause has been set at 50 million euros.The attacking midfielder made 48 appearances during his one season at the El Madrigal and played a key role in helping the club finished fourth in La Liga to earn a Champions League playoff spot and reach the Europa League semi-finals.The former Manchester City player will undergo a medical on Tuesday and will be unveiled on Wednesday.
 Pakistan chief selector Inzamam-ul-Haq has critisised the England captain Alastair Cook over his comments on pacer Mohammad Amir.</strongThe England captain had hinted Amir will have to face 'consequences' in the form of a hostile reception when he plays the first Test at Lord's from July 14.While talking to Geo Tv on Monday, Inzamam asked, ""How would the England captain feel if they were in Pakistan and our captain made a similar statement about some player?""I see this as the start of a campaign to start pressuring Amir. Because not only England but even Australia and South Africa see him as a threat. And he can be a match-winner in England," Inzamam said.The chief selector said he would advise Misbah-ul-Haq to take some steps to counter this pressure."I think it would be a good idea if Amir was not made to field at the boundaries because he will then face hostile comments and remarks. It is best to keep him away from the crowd at the start," he said."But to me there is sympathy for Amir in England and the best way he can answer is to perform in the series and I am confident he can do it," added the former captain.
 England have major concerns about the planned tour to Bangladesh later this year, the team's limited-overs captain Eoin Morgan has said in the wake of Friday's attack by gunmen at an upmarket Dhaka restaurant that left 20 dead.</strongAn England and Wales Cricket Board (ECB) spokesman said they would follow government advice on the trip to the South Asian country, where the team were due to play three one-day internationals and two tests from Oct. 7 to Nov. 1."I think it is quite a big concern at the moment," Morgan told reporters. "We've always left the big decisions to the ECB."They write reports, send guys out to see if it's safe then come back to the players to see if they're happy or unhappy. But certainly it's a concern at the moment."Security concerns have been a major issue in South Asia, starving Pakistan of international sports at home, while the Australian cricket team postponed their Bangladesh tour last year and then pulled out of the under-19 World Cup following a warning from their government.The Bangladesh Cricket Board said England's reaction was normal but hoped the tour would go ahead as scheduled.When asked if the matches could be played on neutral territory, Morgan said: "I think that could be feasible if that came to it."
 Eleven-time world champion Anna Meares spearheads a medal-hungry Australian cycling team announced on Tuesday for the Olympic Games, with the track star gunning for a third gold medal in Rio de Janeiro.Meares will line up with Olympic debutant Stephanie Morton in the team sprint and also compete in the keirin while aiming to defend her London 2012 sprint title."It�s a really nice feeling to make it to my fourth Games," said Meares, who set a new record haul of gold medals by winning the women�s keirin at the World Track Cycling Championships in France this year."It (Rio) was the one event I wanted to make after London and although it�s been a long road I know the next few weeks leading into Rio are going to fly by."I think I�ll be going to Rio in the best physical form I have ever been in my career and I�m ready to do my absolute best for this team and my country."Meares, 32, will become just the third female cyclist in Olympic history to compete in four Olympics on the track and is excited about the depth of talent and gold medal chances for the team."Our sprint team are going to be very strong in Rio. I�ve had a lot to do with the prospective Rio sprint athletes and I�ve really enjoyed that experience," said Meares, who is tipped to be Australia�s flag carrier at the opening ceremony."I also think there are exciting times ahead for both the men�s and women�s endurance teams."Rising star Pat Constable will partner world number one Matt Glaetzer in the men�s sprint, while London Olympian Annette Edmondson will lead the women�s teams pursuit.Her brother Alex will join her in Rio after being named in the men�s endurance team.
 One is an "Eau de toilette" kind of character, the other more "wake up and smell the coffee".</strongCristiano Ronaldo is immaculately groomed, makes a point of posing for the cameras when he scores, is often captured scowling at his colleagues and recently launched his own men's fragrance called "Legacy".Gareth Bale is constantly encouraging his team mates and is described by his manager as "the most down-to-earth boy you could meet."The world's two most expensive footballers, who play alongside each other at Real Madrid, will go head-to-head when Bale's Wales meet Ronaldo's Portugal in their Euro 2016 semi-final in Lyon on Wednesday.In playing terms, both are the leaders of their teams but they take very different approaches to their role.While Bale is widely acclaimed as an inspiration for his national team, Ronaldo's influence on Portugal is the subject of debate.Ronaldo's team mates routinely leap to his defence and emphasise that he is always working for them."Cristiano has worked for the squad and it's the only the squad which matters here," said midfielder Andre Gomes."Maybe people were expecting more goals, (but) he has made a huge contribution to the national team and it's not the moment to start questioning a player."Coach Fernando Santos added that Ronaldo has sacrificed himself for the team."He is an example, as captain, of the spirit of this team, of this team's determination, he wants to do well and he wants to win, in this aspect he has been fantastic. He's an example of what the team is," he said.Even so, the 31-year-old three-times World Player-of-the-Year has often struggled with an image problem, especially when he said two years ago that Portugal needed "two or three Cristiano Ronaldos."He insists on taking every free kick within - and often beyond - shooting distance, prompting suggestions that he is selfish, and is regularly captured on television cameras remonstrating angrily with his team mates.Nani, a veteran of more than 100 caps, is invariably berated if he dares to try a shot rather than feed the ball to the "senior partner."Earlier in the tournament Ronaldo threw a reporter's microphone into a lake when he was asked a question during a team walk and was criticised for disparaging remarks he made about Iceland after Portugal drew 1-1 with the rank outsiders in their opening match.He has not even turned up at any of the daily press conferences which Portugal hold at their camp.Bale, in comparison, has taken part in at least four, looks relaxed, and is not afraid to stir up some controversy such as when he said that no England players would get into the Wales side, adding that Wales were more passionate than their larger neighbours.Television images tend to show him encouraging his team mates rather than gesticulating angrily and complaining.�They are obviously different types of people and different characters,� said Wales manager Chris Coleman.�Whatever Bale brings to the table for us, that's him. He's not manufactured. He doesn't try to be something he's not.�Gareth is clearly a special player. For us he is special, not just because of his talent but what he represents when he plays for Wales.�He appreciates what he has around him and they appreciate they have a super talent. It's a good blend.�
 Marcus Trescothick warned England�s batsmen to expect a tough time in the middle facing Mohammad Amir after he became the Pakistani�s maiden first-class wicket on English soil in six years on Monday.Amir took three for 36 in 11 overs in Pakistan�s opening match of their England tour against Somerset at Taunton.Somerset slumped to 128 all out in reply to Pakistan�s first innings 359 for eight declared -- a deficit of 231 runs.Pakistan captain Misbah-ul-Haq opted against enforcing the follow-on and at stumps, on the second day of three, the tourists were 140 for four for in their second innings -- a huge lead of 371 runs.Azhar Ali was 50 not out and Asad Shafiq 26 not out.<br/>Amir�s exciting career came to a shuddering halt during a Lord�s Test in 2010 when he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a tabloid newspaper sting operation.All three received five-year bans from cricket and together with sports agent Mazhar Majeed, jail terms.Amir, who served three months in an English young offenders institute, has only featured in the game�s shorter formats since his return to Pakistan duty in January.But the 24-year-old is now back in England and could make his Test return in the first of a four-match series at Lord�s on July 14.The floppy hair he had as a teenager may have been replaced by a shorter haircut and a goatee beard, but the whippy action that made Amir one of cricket�s hottest properties was still on show at south-west county Somerset�s headquarters ground.After Pakistan had declared on Monday morning following a century by Younis Khan, Amir took the new ball.Trescothick took two fours off Amir�s opening over. But Amir struck with his 14th ball back in first-class cricket on English soil.Left-hander Trescothick, on eight, could only edge a superb outswinger that moved late and wicket-keeper Sarfraz Ahmed held an excellent diving catch.Amir had another wicket when a full-length inswinger bowled first-class debutant Adam Hose (10).And eight minutes after lunch, Amir bowled Peter Trego (23) with another fine inswinger that knocked over the batsman�s middle stump and left the other two standing."He bowled very well," said the 40-year-old Trescothick, whose nine-balls faced on Monday were all bowled by Amir, after stumps."He swung the ball really late, that�s the biggest thing we noticed.<br/>"In my �magnificent� eight I thought it was pretty hard work, it was tricky," added Trescothick, who in 76 Tests from 2000-2006 scored 5,825 runs at an average of nearly 44 with 14 hundreds./><strong>�Guessing�</strong"You get a lot of bowlers who swing it quite early but he (Amir) was swinging it late and as it was coming down the pitch you were almost guessing whether it was an inswinger or whether it was one of the straight ones," the Somerset stalwart explained.Trescothick was in no doubt that, on this form, Amir could threaten England�s current top order."On that performance yes he will cause problems for England. "He got Adam Hose with a good inswinger round the wicket and Pete Trego got an absolute beauty."That bit of extra pace is the thing. He hasn�t played international cricket for a number of years so there�s probably an extra bit of zip that he has that makes him hard work."Despite suggestions from England captain Alastair Cook that spectators might jeer Amir, there was nothing but polite applause as he came on to bowl in Taunton."I don�t think you�d expect anything else," said Trescothick. "We get on and play the game and it is what it is."Meanwhile Pakistan opener Shan Masood said of Amir: "He hasn�t lost it. If anything, he�s just got better."England swept aside Sri Lanka 2-0 in a three-match Test series and have an impressive home record."We have to respect England, how good they are ... but we�re up for it," insisted Masood."We�re ready to come to England and give them a good match."
strong>Paralympic gold medallist Oscar Pistorius will not appeal a six-year prison sentence given by a South African High Court judge on Wednesday for the 2013 murder of his girlfriend, Reeva Steenkamp, his defence team said.</strongPistorius will serve "between half and two thirds of the sentence" before he can apply for parole, said Andrew Fawcett, Pistorius' instructing attorney.Pistorius was sent to prison for six years on Wednesday for the 2013 murder of his girlfriend, Reeva Steenkamp, the latest twist in a trial that has gripped the world.The state and large sections of the South African public had called for him to receive no less than the prescribed minimum 15-year sentence for murder, saying Pistorius had shown no remorse for the killing.Judge Thokozile Masipa disagreed, accepting the defence's arguments for a lesser punishment."Public opinion may be loud and persistent but it can play no role in the decision of this court," Masipa said. "I am of the view that a long term in prison will not serve justice."It was not clear whether the state would appeal the verdict.Dressed in a dark suit, the 29-year-old stared straight ahead as Masipa read out the sentence.Pistorius was found guilty of murdering Steenkamp by an appeals court last December. He had initially received a five-year sentence for a manslaughter conviction in 2014 handed down by Masipa, a ruling derided by women's groups as too lenient.
 Barcelona soccer star Lionel Messi has been sentenced to 21 months in prison after a court in Barcelona found him guilty of three counts of tax fraud, a statement from the court said on Wednesday.</strongThe court also sentenced the Argentine soccer player's father, Jorge, to 21 months in prison for the same three crimes. The sentence can be appealed through the Spanish supreme court, the statement said.However, under Spanish law a prison sentence under two years can be served under probation, meaning Messi and his father are unlikely to go to jail.The court ordered Messi to pay a fine of around 2 million euros ($2.21 million) and his father to pay 1.5 million euros for the crimes.
 Australia�s cricket board has banned two players for betting on matches and given a suspended ban to a third as part of its "zero tolerance" approach to gambling-related corruption.Hayley Jensen and Corinne Hall, who play in the national women�s league and women�s domestic Twenty20 tournament, were both given two-year bans with 18 months suspended, Cricket Australia said in a media release on Wednesday.Jensen had admitted placing one bet on the result of the men�s test match between Australia and New Zealand in Brisbane last November.Hall had made two bets relating to two matches in the men�s domestic one-day competition in 2015-16."Jensen and Hall are prohibited from participating in any form of cricket or cricket-related event for a period of six months until 21 October 2016," CA said.Joel Logan, who plays for South Australia in the men�s domestic competition, was sanctioned for placing two bets on the winner of the World T20 tournament.Logan was also given a two-year ban but it was wholly suspended due to "circumstances relating to his match contracts and the specific timing" of his bets.All three players were required to participate in anti-corruption education programs, the board said."We take a proactive, zero-tolerance approach to maintaining the integrity of our sport and this includes any form of betting on cricket globally," CA�s integrity boss Iain Roy said.These players have accepted the seriousness of their errors and have voluntarily accepted their sanctions."CA in February banned 19-year-old women�s cricketer Piepa Cleary for six months, with another 18 months suspended, for placing six bets totalling A$15.50 ($11.50) on a men�s test match between Australia and New Zealand in November.That followed a two-year suspended sentence given to Sydney-based women�s cricketer Angela Reakes in December for placing five bets worth a total of A$9 on the man-of-the-match for last year�s cricket World Cup final.
 Germany coach Joachim Loew has been forced to make changes to his team for Thursday's semi-final against hosts France at Euro 2016 because of injuries and a suspension, including replacing key goalscorer Mario Gomez.</strongGomez, whose two goals helped the world champions to the last four, has been forced out of the rest of the tournament with a pulled hamstring. Holding midfielder Sami Khedira will also miss the clash because of a groin injury.Central defender Mats Hummels completes the trio of absentees, sitting out the game due to suspension following a second booking in the Germans' quarter-final victory over Italy on penalties.Chasing a fourth European title, Germany could also be without Bastian Schweinsteiger. Loew has ruled out using his captain unless he has recovered fully from a knee ligament injury.The German boss has to decide what to do with his forward line and whether to use Mario Goetze, Lukas Podolski, Thomas Mueller or Leroy Sane. Goetze and Mueller have both been struggling with their form.In defence Loew is unlikely to deploy a three-man central defence as he did against Italy."Against France I still have to think about it. Italy are a team with automated plays. They are world class in playing them but they are predictable," Loew told reporters."France are different. They constantly change positions, they are much more unexpected and difficult to predict."Loew is likely to use Emre Can as Khedira's replacement with Benedikt Hoewedes slipping into the central defence for Hummels.The French are feeling confident following their 5-2 demolition of Iceland and the euphoria in the country is growing. But, in order to reach a home final in Paris on July 10, Didier Deschamp's team must plug their porous defence.Leading 4-0 at halftime against Iceland, France dropped their guard, conceding two goals. Centre back Samuel Umtiti, playing his first international, was not totally commanding and Adil Rami, who was suspended, could return for the German game.Rami, however, has shown signs of nerves on several occasions, as has left back Patrice Evra, leaving France's defence looking vulnerable, notably from set pieces."We're looking better but Germany remains Germany," said Deschamps, whose side lost to the eventual winners in the 2014 World Cup quarter-finals as well as suffering painful semi-final defeats to the Germans at the 1982 and 1986 World Cups."They are the best team in Europe and in the world and the only ones totally controlling the situation, with technical quality everywhere, from the goalkeeper to the forwards," said the coach."We'll fight for our chances, knowing what we are up against."
 Josh Buttler led England to an eight-wicket victory in the T20 international against Sri Lanka in Southampton on Tuesday.</strongThe Lancashire big hitter was in explosive mood as he smashed 73 not out and captain Eoin Morgan, who made an unbeaten 47, thrilled The Ageas Bowl crowd.Their 117-run third wicket partnership left Sri Lanka, who had been dismissed for 140 off their 20 overs, a beaten side as they failed to win an international on English soil.England were unbeaten in the summer campaigns with Sri Lanka, winning the Test series, ODI series and this one-off T20 contest.
 More than 15,000 Germany fans led the latest Euro 2016 invasion of Marseille on Thursday ahead of their country�s key semi-final clash against France, while excitement built in the host nation.</strongAfter Cristiano Ronaldo�s Portugal beat Wales 2-0 to seal their place in Sunday�s final, attention now turns to see which of the two tournament favourites can reach the Stade de France in Paris for Sunday�s final.Football fever rose as temperatures hit 30 degrees Celsius (86 Fahrenheit) in the Mediterranean city. But after the trauma of clashes between Russian and England fans earlier in the tournament, German and French fans packed bars and cafes in a calm atmosphere.Many cars in Marseille were decked out in French tricolour flags with children, their faces painted, wearing France caps."Day of glory," trumpeted the front page of L�Equipe newspaper over a picture of the French team congratulating star midfielder Paul Pogba on scoring a goal.Neither country has announced a team for the match, which starts at 1900 GMT, but Germany�s Joachim Loew said that captain Bastian Schweinsteiger was fit to start after an injury scare in the penalty shootout win over Italy."In a game like this, his experience is very valuable and, in any case, he will start," Loew said Wednesday.strong>- Misers and hot shots -</strongThe European Championship hosts will be looking to beat Germany, the World Cup holders, in a major tournament for the first time in 58 years.Germany have triumphed in three World Cup encounters since then, the last in the 2014 quarter-finals. Their most famous meeting was the 1982 semi-final when France�s Patrick Battiston had to be revived by medics on the pitch after a brutal clash with German goalkeeper Harald Schumacher.Bayern Munich�s Manuel Neuer, the most miserly goalkeeper in the tournament, and Atletico Madrid striker Griezmann as leading scorer could hold the key to their latest encounter however.Griezmann scored two of his four goals in France�s impressive 5-2 quarter-final win over Iceland.Neuer has conceded only one goal in regulation time in five games -- a spot-kick against Italy in the quarter-finals, a tie Germany won on penalties."We need to score goals. This is a team that doesn�t concede a lot of goals," said France coach Didier Deschamps."Everyone talks about their attack, but they know how to defend," he added.Loew is aware of the French threat."We are going to have to be compact and close down the space in defence," he said."France are going to be the toughest opponents we have had in the tournament until now."Deschamps has no injury problems and welcomes back midfielder N�Golo Kante and defender Adil Rami to contend for places after both served suspensions against Iceland.With many French fans looking back to the 1982 battle, Deschamps said: "We can�t change past history, but we�ve got our own page to write."Apart from the return of Schweinsteiger, Loew gave no other team details and he faces tough choices.Centre-back Mats Hummels picked up a yellow card and is suspended. Striker Mario Gomez and midfielder Sami Khedira picked up injuries which ruled them out and made Schweinsteiger�s presence even more essential.Bayern man Thomas Mueller, normally a regular source of goals for Germany, has yet to score at the tournament.But Mueller said reaching the final and getting a chance to add the Euro trophy to the World Cup title won in 2014 is all that matters."Reaching that goal is what drives me on. I haven�t had that many chances here and the ones I have missed were by a matter of centimetres."I�m not driving myself crazy about it," he said.
 Mohammad Amir should be allowed to "move on with his life", former England captain Michael Atherton said Thursday.</strongThe gifted Pakistani�s career came to a shuddering halt during a Test against England at Lord�s in 2010, when he and new-ball partner Mohammad Asif were caught bowling no-balls to order on the instructions of captain Salman Butt as part of a tabloid newspaper sting operation.All three received five-year bans from cricket and together with sports agent Mazhar Majeed, jail terms.Amir, who served three months in an English young offenders institute, has only featured in the game�s shorter formats since his return to Pakistan duty in January.But the 24-year-old left-arm fast bowler�s career will come full circle if he makes his Test return in the first of a four-match series at Lord�s next week.Amir took an impressive three for 36, swinging the ball steeply at sharp pace, in the first innings of Pakistan�s drawn tour-opener against Somerset earlier this week.Despite concerns he might be jeered by fans, Amir was warmly received by spectators at southwest county Somerset�s Taunton headquarters.Now the cricket correspondent of British daily The Times, the influential Atherton�s stance has helped smooth Amir�s path back into the international arena."I did have sympathy for the situation he found himself in," said Atherton, who was chairing a preview press conference for series sponsors Investec at Lord�s on Thursday."He has served his time, I hope he gets a good reception."I think he deserves a chance to move on with his life rather than looking backwards."Meanwhile Pakistan captain Misbah-ul-Haq, also on the panel, reiterated his faith in Amir."I�m just focused on what is going on in the middle, I have to focus on that and how he bowls and how he performs," said Misbah."He has the best chance to prove himself in the middle...We are there to support him."Amir was a teenager when he received his ban but his time in the international wilderness does not appear to have impaired his considerable skills, judging by his Somerset display."I think he is the same," said Misbah."The pace is there and he is swinging the ball and has all the tricks to get the batsman out."He wasn�t that mature at that time (in 2010) and he is more mature now and that can help him become an even better bowler."
 England�s all-time leading wicket-taker James Anderson was ruled out of a 12-man squad announced Thursday for next week�s first Test against Pakistan at Lord�s.</strongAnderson has not recovered from a right shoulder injury sustained in the third Test against Sri Lanka last month -- a three-match series England won 2-0.The Lancashire paceman�s place in the squad has been taken by uncapped seamer Toby Roland-Jones, now pushing for a Test debut on his Lord�s home ground."Jimmy has been touch and go for a while, he is making really good progress but it is the selectors� view that he just wont be quite ready for that first Test, hopefully for the second," said England captain Alastair Cook at a Lord�s press conference previewing the series on Thursday.With struggling number three Nick Compton having taken time out of cricket, the selectors have recalled Yorkshire�s Gary Ballance for the first of a four-Test series starting on July 14.They also decided against recalling one-day wicket-keeper Jos Buttler to Test duty and playing all-rounder Ben Stokes, not fit for bowling following a knee injury, as a specialist batsman.Roland-Jones, 28, has been in fine for Middlesex this season, with 30 County Championship wickets at under 30 apiece.Ballance, 26 last played Test cricket against Australia at Lord�s last year.This week he scored 132 in the first innings against Middlesex at Scarborough.England national selector James Whitaker said: "Building on the success of the Test series win against Sri Lanka last month, we have maintained our objective of retaining a balanced squad."With an injury to James Anderson, there is an opportunity for Toby Roland-Jones who has been a consistent performer in the County Championship over the last few years and deserves his chance."Former England batsman Whitaker added: "Gary Ballance is recalled to the Test squad for the first time since the winter series in South Africa and could play his first Test for England in 12 months."He has been in recent form with the bat for Yorkshire in the Championship."Gary is mentally strong and we feel that he will add quality and experience to England�s middle-order."Pakistan will give us a stiff challenge during this series and we can expect some fantastic cricket from both sides over the next couple of months."This will be England�s first home series against Pakistan since the infamous 2010 campaign.That year�s Lord�s Test saw Pakistan seamers Mohammad Amir and Mohammad Asif, together with captain Salman Butt, given five-year bans and jail terms for deliberately bowling no-balls as part of a newspaper sting operation.Left-arm fast bowler Amir returned to international cricket earlier this year and the 24-year-old could now make his Test comeback at Lord�s.strong>England squad:</strongAlastair Cook (Essex, capt), Moeen Ali (Worcestershire), Jonny Bairstow (Yorkshire, wkt), Gary Ballance (Yorkshire), Jake Ball (Nottinghamshire), Stuart Broad (Nottinghamshire), Steven Finn (Middlesex), Alex Hales (Nottinghamshire), Joe Root (Yorkshire), Toby Roland-Jones (Middlesex), James Vince (Hampshire), Chris Woakes (Warwickshire).
strong>LONDON; Former Wimbledon winner Marion Bartoli said Thursday she fears for her life after picking up a mystery virus which has caused dramatic weight loss.</strongThe 2013 champion from France, who has shocked fans with her skeletal appearance, was barred from playing in an invitational event at Wimbledon this week after doctors expressed fears over her health.Bartoli, 31, told a British daytime television show that the virus is so rare that medical experts have no name for it.Insisting that she is not anorexic, Bartoli said she can only eat organic salad leaves and cucumbers without skins.She added that she needs gloves when she uses her mobile phone as the virus has caused severe electro-sensitivity.Bartoli also claims that she has to wash with mineral water rather than tap water."I fear for my life. I worry that one day my heart will stop," the 31-year-old told ITV�s �This Morning� programme."This is not life. I am just surviving."Bartoli said she probably picked up the virus when flying between Australia, New York and India in January and February this year.She has since lost 20 kilos which has reduced her life to a "living nightmare".Bartoli said that after visiting Miami and Dallas in February to promote her fashion line, her condition started to deteriorate."I felt worse and my body rejected more and more things," she said."I can�t type on the phone without gloves and for no more than five minutes as my heart will start to pump faster."My life is a living nightmare. I don�t wish this on anyone but it is gradually getting worse."Bartoli, who was around 60kg during her playing days, said she will start a course of treatment at a clinic on Monday."I want to go back to a normal life. I have been reduced to eating organic salad leaves and pre-washed cucumber with no skin."I cannot process protein. I just drink and drink and drink to get everything out."Bartoli said she respected the decision made by the Wimbledon doctors to withdraw her from the women�s invitational doubles at the All England Club."I was looking forward to it. I am happy when I am on court."But the doctors told me that I couldn�t play because of my health."I understand that and respect the decision."
 Nine-year-old Mongolian schoolgirl Suvd-Erdene spends four hours a day perfecting the art of doing a head-stand on a pole clenched with her teeth and push-ups without her feet touching the ground.</strongShe and about a dozen team mates are training in a basement in the capital, Ulaanbaatar, to be contortionists; a revered art that Mongolians say was developed in the palace of 13th century warlord and national hero Genghis Khan.Usually performed by females, the discipline involves twisting and stretching the body to the extreme.The diminutive Suvd-Erdene makes the moves look easy having completed years of grueling training that began with intensive stretching exercises when she was six."I cried when my teacher made me do the stretching exercises, at that time I felt really discouraged," she told Reuters.The girls are given time off school to train down a drab Ulaanbaatar back street under the guidance of 22-year-old Urangoo, a third generation contortionist.Urangoo took up training young contortionists after her own hopes of hitting the big time and performing abroad ended when she suffered an injury at the age of 12.Mongolian contortionists are in high demand and performers may be vaulted into an international career if they are lucky enough to be spotted by scouts from theatrical producers like Cirque du Soleil.For Suvd-Erdene's team mate Shinezul, becoming a contortionist is also a matter of national pride."It�s the Mongolian people�s dream to introduce Mongolian national culture and art to the whole world, so that�s why I want to be the best contortionist in the world," she said.
 As a left-arm fast bowler, Mohammad Amir is often compared to Pakistan predecessor Wasim Akram.</strongBut having seen Amir close up during Pakistan�s opening match of their England tour, Somerset coach Matthew Maynard was struck by a likeness to a fast bowler from an earlier generation than Akram in 1970s West Indies great Andy Roberts.As well as sheer speed, right-armer Roberts was known for his ability to bowl a second bouncer that was markedly quicker than the first one a batsman had received from the Antiguan.They may have very different delivery actions, but having witnessed Amir mark his return to first-class cricket in England with three for 36 in Somerset�s first innings, Maynard was clear the 24-year-old had something of Roberts�s bowling intelligence about him.And this despite Amir having only recently returned from a five-year ban and jail sentence imposed for his part in bowling deliberate no balls as part of a tabloid newspaper sting during the 2010 Test between England and Pakistan at Lord�s."He was swinging it massive in the first innings, proper late big swing," said former England batsman Maynard of Amir."He�s a threat, he always has been, hasn�t he? He�s got that pace, he�s wiry, he�s got a change-up, you don�t see that too often these days," he added."He�s someone who almost bowls at 90 percent, 95 percent of his capabilities and then he throws that 100 percenter in, that change of pace up, like the old great Andy Roberts," explained the 50-year-old Maynard."We don�t see that as often these days," said Maynard, with Amir in line to make his Test return at, of all places, Lord�s where a four-match series with England starts on July 14.The Somerset coach also had words of praise for Pakistan leg-spinner Yasir Shah, returning to first-class cricket after several months out serving a drugs ban for taking a masking agent.Shah almost bowled Pakistan to victory at Taunton by taking four for 107 in 32 overs as Somerset clung on for a draw on Tuesday�s final day of three."Yasir Shah, first outing what for six months or so in this game? He hardly bowled a bad ball, he was getting his fingers round it as the spell developed on a wicket that was pretty unresponsive for him, he looks a class act," said Maynard.strong>- �Quality line-up� -</strongPakistan boast a powerful middle order featuring captain Misbah-ul-Haq and fellow veteran stroke-maker Younis Khan.Maynard said that if Pakistan�s openers -- who were Mohammad Hafeez and Shan Masood at Somerset -- could get through the opening overs from England�s James Anderson and Stuart Broad, the team could yet spring a surprise."Their openers potentially, if they sort that out, if they can get off to good starts, I�m sure they will get enough runs on the board."We know that Pakistan have always had a quality bowling line-up. They learn to bowl on good true wickets and the skills that they develop are terrific."I think England are in a brilliant place as a team at the moment. They are playing good, positive cricket, aggressive with the bat and likewise aggressive and disciplined with the ball. I think it will be a great series."Somerset stalwart Marcus Trescothick may have been out for eight in the first innings, but the 40-year-old former England opener, who could easily have chosen to miss this match, made 106 in the southwest county�s second innings."At the end of the day, when you get a senior player like Marcus who does what he does, not only with the bat but with the intensity he runs between the wickets, he loves the game and that rubs off, that�s such a powerful tool," said Maynard."Whatever we say as coaches pales into insignificance when you�ve got a peer who goes about his business like Marcus... He�s a pleasure to work with."
strong>Australian fast bowler Josh Hazlewood has voiced his support to Ricky Ponting's suggestion that restrictions must be imposed on bat sizes in test cricket to negate an unfair advantage for the men at the crease.</strongFormer Australia skipper Ponting, raised concerns about the rising imbalance between bat and ball, adding that the topic of imposing bat size limits would be discussed when the Marylebone Cricket Club (MCC) World Cricket Committee met next week.A report commissioned by the MCC in 2014 found the thickness of bats had marginally increased in the last century and that edges had broadened by 300 percent, meaning mistimed shots could still find the boundary.However, with restrictions yet to be imposed on bat sizes by the World Cricket Committee, Hazlewood said applying such rules would be a positive move."I'm all for it," the 25-year-old told reporters. "Some of those cricket bats going around the dressing sheds at the moment are unbelievably big."Obviously (Australia opener) David Warner, and (top order batsman) Usman Khawaja has got a few big ones as well. I'm all for it."Hazlewood, a member of the 2015 World Cup winning squad, added that any rule change should be applied to the longest version of the game, rather than to curb the excitement of the one-day format."I think he's (Ponting) made a good point about just in test matches," Hazlewood added."One-day cricket (is) a little bit different, I think the crowds come to see the fours and sixes and big hits. But in test cricket, definitely I think he's made a pretty good point."
 Roger Federer put his global army of "Fed-Head" fans through the wringer for four nerve-shredding sets before he kept alive his pursuit of a record eighth Wimbledon title with a 6-7(4) 4-6 6-3 7-6(9) 6-3 win over Marin Cilic the quarter-finals on Wednesday.</strongNovak Djokovic's shock third round exit had raised hopes that this could be the week when the Swiss finally ends his four-year hunt for an 18th grand slam title, as the Serb had been the only man to beat him at the majors over the past year.However, all those expectations appeared to be heading for the dustbin as Cilic stood one point away from victory -- not once, not twice but three times in a pulsating fourth set that had everyone on the edge of their seats.Three huge serves kept Federer alive -- just -- and he then produced the kind of form, and outrageous shots, that has made him the most successful man in tennis by stealing the tiebreak 11-9.An ace on his first match point finished off the job after three hours, 17 minutes of high drama and carried him into an 11th Wimbledon semi-final, and 40th overall in the majors."I knew I was in so much trouble in the third and again in the fourth," Federer said after walking off Centre Court to a standing ovation."It wasn't going well for me. So for me it was about staying in the match and somehow hope for his level to drop ... and maybe get a bit lucky. That's exactly what happened at 3-3, 0-40 (in the third set)," added Federer about the game where he saved three break points."Obviously the breaker was crazy. It was an incredible match. Marin is one of the nicest guys on the tour so I feel sorry for him but for me the dream continues."The win also made him the most successful player, man or woman, at the majors as he chalked up a record 307th singles win."I cannot believe Roger Federer won that match. How did he get out of that?" gushed American great John McEnroe."You've got to love the courage that he is able to find a way to do that, that is a killer loss."Having missed last month's French Open with a back injury, the five set thriller also delivered a knockout punch to those thinking the Swiss third seed did not have the stamina to last the distance."It's really encouraging for me to see that I am improving. As the match goes on, I was able to sustain a really high level of play," added the 34-year-old, who came back from two-sets down for the 10th time in his career."My legs were there, my back was there, serving was key. Plus mentally this is going to give me a hell of a boost. I am ecstatic that I was able to come through somehow."He will face another big-server, Canadian Milos Raonic, for a place in Sunday's final.
 Cristiano Ronaldo scored one goal and inadvertently set up the other as Portugal ground out a 2-0 win over Wales on Wednesday to march into the Euro 2016 final.</strongThe Portuguese superstar, who has had to soak up a lot of criticism for a lacklustre tournament by his high standards, majestically powered in a 50th-minute header to put his side in front.The goal, his third in the tournament, equalled Michel Platini's record of nine in European Championship finals.Ronaldo also saw his shot turned in by Nani for a second goal in the 53rd minute, ending Wales' remarkable run at their first major finals since 1958.Portugal, who had not won a single game in the tournament over 90 minutes, next meet hosts France or Germany who play their semi-final on Thursday."I hope that after the final we will be smiling and that it will be tears of joy in the end," said Ronaldo who wept after his team lost to surprise packages Greece in the 2004 final."I have always said my dream was to win a trophy with Portugal. We are closer to doing it and I believe we will win," he told reporters after coming out on top in his battle with Real Madrid team mate Gareth Bale.Wales kept their opponents quiet in the first half but could not recover the two-goal deficit, ending a scintillating run that has captivated millions back home and turned their players into heroes.The Welsh, with midfielder Aaron Ramsey suspended and replaced by Leicester City's Premier League winner Andy King, had an early spell of possession but a tight Portugal defence kept them at bay.strong>FIRST CHANCE</strongPortugal, bidding to reach their first Euro final since losing on home soil 12 years ago, had their first chance after a quarter of an hour following a low drive by Joao Mario.Wales responded as Joe Ledley found Bale with a low corner and the forward fired over the bar.The Welsh, playing their first major tournament semi-final, did not suffer from stage fright with their back line, supported by midfielders Ledley and Joe Allen, disciplined and compact.In a cagey first half Portugal struggled to find Ronaldo, opting for long crosses into the box that were easy pickings for central defender James Collins.Portugal injected some urgency after the break, pressing high up the field.It paid off instantly with a corner in the 50th minute that Raphael Guerreiro floated in towards the far post where Ronaldo climbed high above two defenders to score.Portugal doubled the lead when Nani slid in to connect with Ronaldo's mishit shot, netting his own third goal of Euro 2016.Wales were lucky not to concede more goals late in the game as Portugal, now unbeaten in 13 competitive matches, continued to dream of a maiden top-notch trophy."We are massively disappointed obviously but we have given everything on and off the pitch," said Wales talisman Bale. "We tried our hardest to get back in the game, they shut up shop well but we have no regrets."We are very proud. We will pick ourselves up. Nobody expected us to get this far but we did."
 Canadian Milos Raonic recovered to upset seven-times champion Roger Federer 6-3 6-7(3) 4-6 7-5 6-3 at Wimbledon to reach his first grand slam final on Friday.</strongThe sixth seed will meet the winner of the second semi-final between Britain's 2013 champion Andy Murray and Czech 10th seed Tomas Berdych, runner-up in 2010, in Sunday's showpiece match.Raonic survived four set points in the second before losing it on the fifth, the first one in the tiebreak, but after a dominant third set from Federer the Canadian came back in the fourth by converting his second set point.This year's Australian Open semi-finalist then dominated the final set to record his third win in 12 meetings with Federer and dash the Swiss world number three's bid for a record 18th grand slam crown.
</strong> When France meet Portugal in Sunday's Euro 2016 final, the outcome is likely to depend on the performances of Cristiano Ronaldo and Antoine Griezmann -- the second time the two players have clashed with a European trophy at stake in six weeks.Portugal's Ronaldo steered Real Madrid to their Champions League triumph at the end of May after his French rival Griezmann missed a penalty for city rivals Atletico.The France striker has certainly bounced back from that disappointment. He is the competition's top scorer with six goals, having scored both goals in Thursday's defeat of world champions Germany.Portugal's master tactician Fernando Santos needs to cut supply lines to a player whom the French call "Monsieur Griezmann" as a sign of respect -- despite his boyish looks.It will be a challenge.While Portugal saw off Wales, the Welsh playmaker Gareth Bale was still given enough space to create chances and were outdone more by the absence of midfield creativity than by Portuguese prowess.That will not be the case for France who have a larger arsenal. Even if Portugal can snuff out Griezmann, Dmitiri Payet, the stand-out performer in the earlier rounds, can change a game in seconds.Front man Olivier Giroud has also proved a handful by weighing on defences and making space for those around him.strong>TEAM SPIRIT</strongWhat has worked for Portugal has been an incredible team spirit with a mantra that they are not playing to look pretty, but to win, irrespective of style.Santos has fashioned a well-drilled 4-4-2 and kept to it throughout despite injuries. The loss of Pepe at the back was hardly noticeable against Wales with Bruno Alves stepping in admirably.From France's match with Germany, Santos will have noted that Didier Deschamps' team has a weakness on its flanks, in particular on the left with Patrice Evra.The Germans pushed the French very deep by using their full backs almost as wingers. For much of the match, France's midfield duo of Paul Pogba and Blaise Matudi chased shadows, leaving Joshua Kimmich and Jonas Hector with acres of space.Portugal's full backs Raphael Guerreiro and Cedric Soares are good enough to replicate that, which could push Deschamps to move away from the more attacking 4-2-3-1 formation to revert to a 4-3-3, restoring defensive midfielder N'Golo Kante.But whether the Portuguese midfield has the capacity of a Bastian Schweinsteiger or Toni Kroos to stifle France is questionable.strong>NO DEPENDENCY ON RONALDO</strongDanilo, who replaced William Carvalho against Wales, was strong and efficient in the holding midfield role, but has limits going forward.Joao Mario and Adrien Silva do not appear to have the killer pass for Ronaldo or strike partner Nani. That may open the door for playmaker Joao Moutinho to return.What has been evident with this Portugal side is that they are no longer a side entirely dependent on Ronaldo. On the contrary, when he goes missing, others shine.In the quarter-final against Poland, 18-year-old Renato Sanches took the plaudits, while Nani has netted three times.Portugal's most high-profile player may have three goals, but his Real Madrid explosiveness has been absent. He has had to fit into Santos' team ethos, playing a less glamorous role. Captain Ronaldo tracks back and encourages his teammates.Arguably by being quiet he may prove more lethal. France's defenders can not fall into the sleepy rhythm Portugal have set during the tournament because Ronaldo has enough to turn the tide as his majestic header against Wales showed.
 Czech Republic goalkeeper Petr Cech announced his retirement from international soccer on Friday following his country's group stage exit at Euro 2016.</strongThe 34-year-old keeper, who plays for Arsenal in the English Premier League, is his country's most capped player with 124 appearances and played all three games at the tournament where the Czech Republic could only manage one point in Group D."This is a purely football-based decision. If I want to prolong my career and play at the highest level for as long as I can, then I will probably need to find the balance so that I can continue to do so," he told Arsenal's website."I'm now 34 and the next (international) tournament is in two years which, in football, is a very long time. The last thing I wanted to do was start a campaign and then say 'I don't think it's right for me to continue' halfway through it."Cech, who made his international debut in 2002, moved to Arsenal in June last year after spending 11 years across London at Chelsea, where he won four titles and the Champions League trophy in 2012.
 South Korean swimming star Park Tae-Hwan, who was barred from the Olympics for doping, will compete for the national team in Rio after the Court of Arbitration for Sports (CAS) ruled in his favour.The multiple Olympic medallist had sought "an urgent ruling" from the Lausanne-based body against his doping ban by July 8 -- the deadline for South Korea to select their Rio swimming team."We will include Park Tae-Hwan in the list of national athletes who will take part in the Rio Olympics", Korean Olympic Committee (KOC) Secretary General Cho Young-Ho was quoted as saying by Yonhap news agency.Park, 26, was slapped with an 18-month suspension after testing positive for an anabolic steroid in out-of-competition controls before the 2014 Asian Games.The ban lapsed in April, but Park remained barred from the 2016 Olympics under a KOC rule which prohibits athletes from representing the country for three years after a doping ban expires.CAS ruled Friday that KOC�s extended ban constituted a double jeopardy for Park and should be nullified, according to KOC.South Korea�s Olympic committee had said earlier Friday it would abide by the CAS ruling.Park -- once the poster boy of South Korean swimming before the doping scandal -- has repeatedly begged for a chance to compete in what would be his third, and probably last, Olympics.He won 400m freestyle gold and 200m freestyle silver at the 2008 Beijing Olympics and two silver medals at the 2012 London Olympics, as well as 400m world titles in 2007 and 2011.�
 Pakistan in their second warm-up match were put into bat after Sussex captain Ben Brown won the toss and elected to field first here on Friday.Pakistan made two changes from their team played against Somerset in their first warm-up. The match had ended in a draw after Pakistan�s Younis Khan and Azhar Ali and Somerset captain Marcus Trescothik hit centuries.Pakistan brought pacers Wahab Riaz and Imran Khan, and spinner Zulfiqar Babar in place of� fast bowlers Mohammad Amir and Rahat Ali, and spinner Yasir Shah, who are being rested.Teams:Pakistan XI: Mohammad Hafeez, Shan Masood, Azhar Ali, Younis Khan, Misbah-ul-Haq (captain), Asad Shafiq, Sarfraz Ahmed (wk), Wahab Riaz, Sohail Khan, Zulfiqar Babar, Imran Khan.Sussex: LWP Wells, PD Salt, Craig Cachopa, HZ Finch, MW Machan, BC Brown (captain &amp; wk), WAT Beer, A Shahzad, DR Briggs, JC Archer, A Sakande
 A fifth won toss in six and Heather Knight had no qualms batting first: England had won all 11 previous matches at Chelmsford and, with that in mind, Tammy Beaumont and Lauren Winfield ensured a 12th was sewn up early with an opening stand of 108.�Across the six matches, the first England wicket has been worth 801 - more than half of their team's runs. When Pakistan do return to their own beds, a few of their bowlers might want to check under them to ensure Beaumont and Winfield are nowhere to be seen. Both their half-centuries were typical of their play over the last month: Winfield willing and on the front foot, Beaumont wristy and devastating.�The familiarity spread right through�to the game's conclusion. Pakistan were run ragged in the field and, facing a total they had no intention of chasing -�Danni Wyatt pilfered 11 from the first four balls of the final over to help England set 170 -�it was just a matter or whether they would be bowled out in the allotted time. In the end, they finished seven wickets down and 57 short.��England rang changes with the ball, the most noticeable being left-armer Tash Farrant coming in for Katherine Brunt. Having made her debut at the age of 17, Farrant spent two years on the sidelines from January 2014 to February 2016, when Mark Robinson gave her a run out in England's final T20I before the World T20.�Hers is an example he was keen to address: a player picked young yet too young to cope with being dropped and overlooked for a prolonged�period. Now 20, she looked�at ease, cycling through her variations and even nabbing the wicket of opener Nahida Khan with a slower ball that was�flat-batted back to her. There were first international wickets, too, for Alex Hartley.��Talking about how easy you find things is one of cricket's great taboos, but even Heather Knight, a measured individual who seems to cringe at her own success, might wonder what all the fuss of captaining your country is about.��From the early part of Robinson's tenure as head coach, it was evident that both he and Knight were on the same page. In one of their first coach-player interactions, Knight said she wanted to move away from feeling like�the onus is on her to bat for as long as possible. She wanted freedom.�As captain, she has been able to afford that to the rest of her team. All this while questions were being�asked of whether life after Charlotte Edwards would really be so rosy.�Those answers will not be able to be given just yet, but Knight was understandably punchy in the press conference.��"There was a lot of noise around the squad before the series and the girls have responded. The cricket we have played has been really entertaining to watch. Everyone is feeding off the success of each other and it's been a really nice place to be."�That last point is key. Perhaps one of the most noticeable elements of this England side is how much more open they seem. And while players young and experienced have commented on how Robinson has created a relaxed atmosphere, it has been particularly clear�to former players no longer in the system.��Caroline Atkins, who represented England between 2001 and 2011, was taken aback at how at ease the players were when she was around the team at Taunton as they prepared for the third ODI. It was not an atmosphere she was used to. Isa Guha and Ebony-Jewel Rainford-Brent have also presented caps to debutants during this tour, something that has rarely happened in English women's cricket. Rainford-Brent, who� presented Hartley with her T20 cap before this match, was even invited into the team huddle -�a ringed haven usually reserved for squad members.���There are of course elements that still need work. On a personnel level, Kate Cross' return to international cricket, after an impressive pre-season tour of Sri Lanka with the England Academy, was disappointing, as she took�1 for 56 from the 11 overs she bowled across the first two ODIs. Cross will spend the next few weeks up to the�inaugural Women's Super League fine-tuning some technical aspects of her game, such as her front arm, before leading the Lancashire Tunder in what is hoped to be a testing�fortnight of high-level�cricket. She will hope her name will be added to the long list of seamers Robinson has healed.��Long term, it will be interesting to see whether the confidence gained from these six matches can carry through into something more sustainable. This is not a team that likes to blow their own trumpet. But after six matches of runs, wickets and outright dominance, and given the manner in which they are looking to play their cricket, they might have to get used to it.
 Former pacer Shoaib Akthar believes people have a wrong perception about him that he is a playboy or a party guy saying I am a very down to earth person.</strongShoaib who is nicknamed as the Rawalpindi Express said the people have misjudged about me a lot.�I am a simple guy and I am not a party guy or anything like that,� he said while talking to Geo News.Shoaib who made his Test debut in November 1997 as an opening fast bowler said he understood about relations after his retirement.�I never missed my family on Eid or any such festivals as I came to know about relations after I got retired,� he said.Shoaib who took the retirement decision during the 2011 World Cup said he cannot live anywhere else but Islamabad.�I have never made anything in my whole life. I just have two t shirts a jeans and a pair of slippers in which I roam,� he said.
 The US sports world reacted with shock Thursday to deadly shootings that killed four police officers and wounded seven others in Dallas, with some describing it as a nightmare with seemingly no end in sight."Hurting for Dallas right now," said Alex Morgan, a member of the US national women�s soccer team."It seems like we wake up or go to sleep reading more tragedies than not. I want to wake up from this nightmare."NBA star LeBron James took to Twitter to tell his 31.5 million social media followers that violence won�t solve anything."We are all hurting tonight," James tweeted. "More violence is not the answer. #StoptheViolence."The American athletes were reacting to chaotic scenes of gun attacks during what was supposed to be a peaceful protest in downtown Dallas, Texas, against perceived police brutality and racial bias.Police said at least two snipers opened fire ambush style on officers who were on duty for the protest march."I want to hope this is all a bad dream...it ain�t," two-time Major League Baseball World Series champion Shane Victorino tweeted.Chris Iannetta, catcher for the Seattle Mariners, called for an end to shootings on both sides."People. Please end the violence. Enough is enough. We are all humans. We all deserve the right to live happily!" he wrote.Japanese pitcher Yu Darvish has played four seasons with the Texas Rangers and lives in Dallas."Pray for my hometown. #prayforDallas," he tweeted.Darvish comes from Japan, which has some of the strictest guns laws in the world. <br/> In 2008, there were just 11 firearm-related homicides in Japan. That compares to over 12,000 in America, which has one of the highest gun-related murder rates in the world."Praying for this world my kids gotta grow up in...I�ll die for them, won�t let the streets or the (social) media raise them. That�s on God," tweeted Oklahoma City Thunder player Anthony Morrow.Spencer Dinwiddie, who played 12 games with the Detroit Pistons this past season, said the killings seem so senseless."Whole lotta hate out here...and in the grand scheme of things it�s for no reason," he tweeted.The Dallas Stars NHL club tweeted: "Deepest sympathies to all those affected in Dallas tonight. Our thoughts and prayers are with DART PD and Dallas PD."
 England batsman Gary Ballance has admitted being pleasantly surprised by his return to the side for the first test against Pakistan, a news that reached him while he was busy grocery shopping.</strongThe 26-year-old was dropped during England's Ashes series against Australia last year after a poor run of form, but has been brought back in place of Nick Compton, who is taking time away from the game after a woeful run of form."It's all come as a bit of a surprise," Ballance told British media."It's a great feeling to be back in the squad, especially when you've been out of the side for a while."I was just doing a bit of grocery shopping when I got the call from national selector James Whitaker - just a standard Thursday morning!"Should the left-handed batsman make his first test start in 12 months at Lord's on Thursday, Ballance is likely to slot into the middle order rather than at number three.He is hopeful that his modest domestic season could translate into bigger numbers for England."I've felt good the last few weeks," Ballance added."I've been playing well, I just haven't got that big score that gets you noticed."
 Two goals from Antoine Griezmann propelled host nation France into the final of Euro 2016 with a 2-0 win over world champions Germany on Thursday.</strongFrance will now play Cristiano Ronaldo�s Portugal at the Stade de France in Paris on Sunday.Griezmann scored a hotly contested penalty in first-half injury time after Bastian Schweinsteiger was adjudged to have handled and the Atletico Madrid striker increased France�s lead with a poked effort in the 72nd minute.
strong>Serena Williams beat Germany's Angelique Kerber 7-5 6-3 to claim a seventh Wimbledon singles title and equal Steffi Graf's professional era record of 22 grand slam singles crowns on Saturday.</strongThe 34-year-old American edged a high-quality final on a blustery Centre Court as she avenged a surprise loss to Kerber in the final of this year's Australian Open.Fourth seed Kerber stuck to her guns in a fiercely-fought first set but wavered at 5-6 when a couple of unforced errors gave a fired-up Williams the chance to grab the opener, which she did on her second set point.World number one Williams faced a moment of danger when Kerber earned a first break point at 3-3 in the second set but she responded by blasting down consecutive aces to stay ahead.Under severe pressure throughout the contest Kerber crumbled in the next game, skewing a backhand wide to give Williams a 5-3 lead and the chance to serve for the title.Williams was in no mood to prolong the contest and stormed 40-0 ahead, sealing victory with a volley on her first match point before collapsing backwards joyfully on to the Centre Court turf.
 The Pakistan cricket team will play a match against Sussex on Saturday wearing black arm bands to mourn the death of humanitarian Abdus Sattar Edhi.</strongAccording to the Geo News, Pakistan will play its third and final warm up match against Sussex before it plays against England.The players appear to be in good form and will be seen wearing black bands in their upcoming match against England as well.Younis Khan marked 16,000 runs in the second day on the tour. Batsmen Azhar Ali scored two centuries.Pakistan will play its first match against England on July 14.Before leaving for England the Chairman PCB Shaharyar M. Khan has announced that Pakistan Cricket Team will wear Edhi logo on their official kit during England Tour in T20 and ODI series.ICC also allowed Pakistan Cricket Board (PCB) to bear the Edhi Foundation logo on Pakistan cricket team�s official kit during England tour.As a mark of respect for Abdul Sattar Edhi, Misbah ul Haq, Azhar Ali, and Sarfaraz Ahmed presented the official Pakistan ODI and T20I jersey to Saad Edhi on behalf of the Pakistan Cricket Team. The team also donated a signed bat to be given away in an auction for the benefit of Edhi Foundation.
 Fast bowler Vernon Philander will return to international action for the first time in eight months after a freak injury when he plays for South Africa A against Zimbabwe A in Harare in a four-day match starting on Saturday.</strongThe 31-year-old has been sidelined since November after damaging ankle ligaments playing a warm-up game of soccer while on tour with South Africa in India.The injury forced him to return home early and miss the subsequent series against England.But Philander has since made three first-class appearances for Western Province and Cape Cobras at the end of last season, taking 10 wickets, and sees playing for South Africa 'A' as a route back to the test team for next month�s two-match series against New Zealand.�I never quite knew the severity of the injury until a couple of months after and it�s been coming and going, but these last few weeks it�s really been holding up."I'm just looking forward to getting out there and playing cricket again,� Philander said in a Cricket South Africa statement on Friday.The return of the right-arm seamer would be a boost to South Africa, whose pace attack also missed the injured Dale Steyn as they lost 2-1 to England in the four-test home series.Philander, who has taken 126 wickets in 32 tests at an average of 22.08, is in the A team squad for two matches in Zimbabwe plus two in Australia at the end of the month.
 Brianna Rollins scored a stunning victory in the 100m hurdles at the US Olympic track and field trials here Friday.The drama on a rainswept day at Hayward Field came in the women�s 100m hurdles, where 2013 world champion Rollins scored a superb victory in 12.34sec.Kristi Castlin finished second with Nia Ali third."I knew I was ready, I just wanted to come out here and do the best race I can, and I managed to execute that," Rollins said.Keni Harrison, the fastest woman in the world this year in the event, finished in sixth spot and missed out on a place in Rio.Harrison�s finish outside the qualifying spots reflects the ferocious depth of competition in the event amongst US hurdlers, who have monopolized all of this season�s top 10 times.�
 LaShawn Merritt clocked the fastest 200 meters time of the year as Brianna Rollins scored a stunning victory in the 100m hurdles at the US Olympic track and field trials here Friday.Merritt, the 2008 Olympics 400m champion, roared into Saturday�s 200m final with a blistering time of 19.74 seconds, more than two-tenths of a second quicker than his nearest rival, Ameer Webb.It was a devastating display of sprinting from Merritt, who insists he remains undecided about whether to pursue a 400-200 double at next month�s Olympics in Rio de Janeiro."I�m not sure yet, I�m just trying to take it a race at time. I don�t like to think too far ahead," said Merritt when asked about his Olympic plans."I�m just going to try and win tomorrow."Merritt will be joined in the final by both Justin Gatlin and Tyson Gay.Gatlin finished his semi-final in second place with a time of 20.23sec, trailing teenager Michael Norman in 20.21sec.The drama on a rainswept day at Hayward Field came in the women�s 100m hurdles, where 2013 world champion Rollins scored a superb victory in 12.34sec.Kristi Castlin finished second with Nia Ali third.<br/> "I knew I was ready, I just wanted to come out here and do the best race I can, and I managed to execute that," Rollins said.Keni Harrison, the fastest woman in the world this year in the event, finished in sixth spot and missed out on a place in Rio.Harrison�s finish outside the qualifying spots reflects the ferocious depth of competition in the event amongst US hurdlers, who have monopolized all of this season�s top 10 times�
 Azhar Ali�s fine form with the bat gave Pakistan the perfect boost ahead of the first Test with England next week as he stroked his second successive century in their tour match with Sussex on Friday.</strongAli, who made an unbeaten 101 in the second innings of their game with Somerset earlier this week, hit a fine 145 -- admittedly against an under-strength second-division county side attack -- as the tourists finished the first day on 363 for five.Veterans Younis Khan and Misbah-ul-Haq made half centuries with Sussex thankful that debutant pace bowler Jofra Archer didn�t suffer from nerves as he returned impressive figures of four for 49.Indeed the 21-year-old West Indian had the Pakistanis in trouble early on with a two-wicket blast that saw them reduced to 49-2.But a third wicket stand of 125 between Ali and Younis turned the match back in Pakistan�s favour until Younis fell on 59 to a catch by Ajmal Shahzad off the bowling of Danny Briggs.Misbah quickly replaced his team-mate and kept Pakistan on track, reaching 221 for three at tea, before he became another victim of Archer when he trapped him lbw on 68.Ali too was to fall before stumps, Archer having him caught by Ben Brown.
 England wicketkeeper-batsman Jos Buttler is set for a stint on the sidelines after suffering a fractured thumb, his county side Lancashire said on Sunday.It is not known how long Buttler will be out of action, but having been overlooked by England for the first Test of a four-match series against Pakistan, he will be hoping to return for the limited-overs games in August.The 25-year-old was struck by the bat of Worcestershire opponent Ben Cox while keeping during Lancashire�s T20 Blast win on Friday.Despite that Buttler, who has scored England�s three fastest one-day international hundreds ever, went on to score a match-winning 50 from just 20 balls, the quickest in Lancashire Twenty20 history."X-rays later revealed he sustained a small stable fracture which will be managed conservatively," Lancashire said in a statement.
 Sussex's openers, Luke Wells and Harry Finch, added 212 for the first wicket before they declared 72 runs behind, offering Pakistanis the chance to see how keen they are for a proper game on the final day.The ball did not swing conventionally before lunch and the lines were not consistent which enabled Finch and Wells to make a flyer: the fifty up in the eighth over, 120 in 27 by lunch.In the first session it was a case of who bowled least worse but in the hour before tea Wahab Riaz provided a reminder of the danger that can be posed almost out of nowhere when the older ball starts to move.Wells was the first to fall when Wahab, who overstepped 10 times striving for pace, returned for his second spell of the day, his first from the Cromwell Road End, and started to find reverse swing with impressive pace: he will never be a bowler picked for economy, but he has the ability to rattle the batsmen. Wells drove flat-footed at a full delivery, edging behind seven short of a century, then Matt Machan was almost yorked first ball before being beaten by his second delivery.Finch, opening the batting for the first time in first-class cricket, reached his century in Wahab's next over, when he square-drove his 16th boundary, but two balls later was tempted into driving a full delivery and edged to slip.At the Sea End, Imran Khan picked up a brace himself, although they owed a little more to the batsmen's errors. Machan was lbw after a horrid swipe across the line then Ben Brown drove loosely at his first ball: 212 without loss had become 233 for 4 in the blink of an eye.Wells' innings was a continuation of a strong run of form for the tall left-hander who had made 181 last week against Glamorgan. His fifty off 54 balls included 10 boundaries and seven more followed before Wahab found his edge.Finch, whose previous first-class hundred had come against Leeds/Bradford MCCU at the start of this season, gave one chance on 64 when he drove low to short cover off Zulfiqar Babar, but he was particularly impressive on the front foot. His century also included three sixes.Having come in to face a hat-trick ball on first-class debut, Philip Salt played positively after tea before Craig Cachopa was given lbw on the front foot to Zulfiqar to bring the declaration with 24 overs left in the day.For the fourth time on the tour, Mohammad Hafeez reached double figures but not much further when, on 23, he pulled Jofra Archer to deep square leg. As a senior batsman, Pakistan will need Hafeez to lift his game in the Tests to ensure Azhar Ali and Younis Khan are not constantly exposed to the new ball.Shan Masood reached the close unbeaten on 38 but was never entirely convincing. Having given the same top seven both these warm-up matches, Pakistan have set their stall out for the opening Test but, as far as the first-wicket pair are concerned, they will enter more in hope than expectation.�
 The Euro 2016 final on Sunday sees a match between hosts France and Portugal that will unleash a clash between one of the world�s greatest players ever Cristiano Ronaldo and would be pretender Antoine Griezmann.After 50 matches over a month of football that has seen stunning shocks by Iceland and Wales, Ronaldo is counting on his side producing one more upset so he can finally win an international trophy.Portugal will have to beat a French side who have found new inspiration from Griezmann -- the tournament�s leading scorer on six goals -- and being willed on by a nation avid to rediscover the feel good factor.With the country still on terrorist alert after the November 13 attacks in which 130 people died, more than 3,400 police will be on the Champs Elysees in Paris alone when the match starts at the Stade de France at 1900 GMT.Rival coaches Didier Deschamps of �France and Fernando Santos of Portugal have been desperately trying to shield their teams from the sky high hopes of two nations.Deschamps, who captained the French side that won the 1998 World Cup and the Euro title in 2000, said he could feel the adrenaline pumping."It�s an exceptional moment, a privilege, a unique chance because there is a title at the end," Deschamps said of the final."What you need to do is approach it as relaxed as possible while being at the same time totally focussed on the match," he added."On the bench, there is a frustration in not taking part, but I can�t do that anyway. But I�m fine, I don�t feel any pressure, no stress, just adrenaline and that�s positive."France have put in some stylish performances, including their 5-2 win over Iceland to end the giant killing run of the team that dumped England out of the contest.France captain Hugo Lloris said the team wants to put their name in the football history books to redeem themselves for a player revolt at the 2010 World Cup that made them a national disgrace.The troubles were worsened by the exclusion of star striker Karim Benzema over an alleged sex tape blackmail attempt."We have come through a crisis in French football," the Tottenham Hotspur goalkeeper said. "We have climbed back up the slope, we have done it step by step."
 Portugal may have experience of a European Championship final, but Sunday�s Euro 2016 showpiece against France will be a role reversal for them.</strongCristiano Ronaldo was a teenager when Portugual, with Luis Figo as their talisman, suffered a shock 1-0 defeat to Greece before a disbelieving crowd in Lisbon in the Euro 2004 final.Twelve years on, Real Madrid superstar Ronaldo and veteran centre-back Ricardo Carvalho are the only survivors in the Portuguese squad from that game as they prepare to face the hosts for the Euro 2016 title at the Stade de France.Just like Greece in 2004, Portugal have not won too many admirers with their performances in France. They failed to win a game in 90 minutes before defeating Wales 2-0 in the semi-finals.However, they now have a glorious chance to follow in the footsteps of that Greek side by beating France in the final and spoling the home party.Coach Fernando Santos knows that France are under pressure to win the trophy on home soil, just as they did at the 1984 Euros and at the 1998 World Cup. But he expects them to cope with that better than Portugal did more than a decade ago."There is pressure. We have that experience from 2004. But the France players are playing at home and they�re very experienced," Santos told reporters at the Stade de France on Saturday."Their players play in the best teams and they are used to very intense games. Some of them played in the Champions League final."They are very experienced and Didier Deschamps is a very experienced manager. I�m sure Didier is taking care of that. All I do is think of how my players will play and I want them to play their best in order to win."A tearful Ronaldo and his distraught team-mates were stunned by their failure in that final and must have wondered if they would ever get so close to major tournament glory again.Now they are 90 minutes away from the title and after the semi-final win against Wales Ronaldo said: "I hope on Sunday you�ll see me crying with joy."
 A bullfighter and a man participating in a village bull-run were killed in Spain on Saturday, while another two men were gored by the animals at the world-famous festival in the town of Pamplona.Victor Barrio, a 29-year-old professional bullfighter, was killed when a bull�s horn pierced his chest in front of spectators as he competed in a fight in the town of Teruel in the eastern region of Aragon.His death, shown live on television, was confirmed on the website of Madrid�s Las Ventas bullring, where Barrio began as an apprentice bullfighter in 2010. He is the first Spanish bullfighter to die in a ring since the turn of the century.In the southeastern village of Pedreguer near Valencia, a 28-year-old Spaniard was killed during a bull-run, in which people risk life and limb by racing alongside specially-bred fighting bulls through narrow streets.A bull�s horn pierced his lung and heart as he was trying to help another runner during the event, in which a man was killed last year, a spokesman for the regional government said.Many of Spain�s towns hold summer festivals involving bulls, and several people die each year.The San Fermin festival, in which bulls chase red-scarved runners through Pamplona�s cobbled streets during nine days of events, attracts thousands of revellers from Spain and overseas.In Saturday�s run there, a 33-year-old Japanese man was gored in the chest and a 24-year-old Spanish man in the arm, while 12 others suffered minor injuries, the local government said on its website.The Japanese man was in a stable condition in hospital, a spokesman for the festival said.The four-minute run in Pamplona featured six bulls from the Jose Escolar ranch, one of which separated from the rest and caused panic among the runners.The daily bull-run along an 825-metre stretch of narrow streets in Pamplona�s old town starts at 8 a.<br/>m.<br/>(0600 GMT) and usually lasts between three and five minutes.<br/>There are eight runs in total during the festival.<br/>Over the past century 15 people have died in Pamplona�s event, which dates back hundreds of years, according to a count on the unofficial San Fermin website.<br/>The last death was recorded in 2009.�
 "Leo, those who attack you are attacking Barca and its history. We�ll defend you to the end.Together forever!"A Barcelona city court sentenced Messi and his father on Wednesday to prison terms of 21 months after they were found guilty of three counts of tax fraud, although it is unlikely they will spend time behind bars.Spanish law is such that any sentence under two years for a non-violent crime rarely requires a defendant without previous convictions to serve jail time and a spokeswoman for the court confirmed Messi was unlikely to be imprisoned.It is the second campaign in support of Messi in the last two weeks. Argentines have called on him to reverse his retirement from international football, a decision he took after his country�s loss on penalties to Chile in the Copa America Centenario final in the United States on June 26.It was the fourth final in a major international tournament and third as Argentina captain that Messi has been on the losing side, including the 2014 World Cup in Brazil.
 After a night of rowdy celebrations Portugal�s European champions led by Cristiano Ronaldo returned home to a heroes� welcome on Monday and a country overjoyed by their upset win over France.Tens of thousands of fans took over the streets of Lisbon waving red and green national flags to mark the historic victory set up by substitute Eder�s extra-time goal that stunned the hosts on Sunday night in the Euro 2016 final at the Stade de France.Real Madrid superstar Ronaldo, who was stretchered off injured and crying early, hugged the trophy on the special flight that took the Portuguese team home.Two fire trucks sprayed jets of water in green and red over the plane as it taxied to the airport terminal."We haven�t slept much, this is our first victory, we had to be here," said one fan, 21-year-old student Antonio Ribeiro de Magalhaes.With man-of-the-match defender Pepe carrying the prize down the steps the 23-man squad boarded an open-top bus marked �Champions� for a victory parade."We�ve entered into the history of Portugal, thank you for everything," triple world footballer of the year Ronaldo shouted to fans."This triumph doesn�t solve our problems but at least it�s making us happy," Lucia Antunes, a 41-year-old unemployed woman, told AFP, alluding to Portugal�s struggle with an economic crisis and austerity."This is something that only happens once in a lifetime," he added.The team were received by President Marcelo Rebelo de Sousa, with Ronaldo brandishing the trophy from the balcony of the presidential palace."You are the best in Europe!" the head of state told the victorious team, decorating them with Commander of Order of Merit medals."You have given an example by winning courtesy of your courage, determination and humility," he added.A disconsolate France also went to meet their country�s leader. In stark contrast, President Francois Hollande could only offer commiseration at a sombre official lunch.An open-top bus planned for a Paris victory parade was sent back to the depot as French football chiefs started a what-went-wrong inquiry.�
 Former head coach Waqar Younis believes Pakistan team has all the potential to beat England at their home saying the green-shirts just have to play at their best.</strongWaqar said this tour is very important for Pakistan and our team has the capability to beat England. Speaking about England�s leading Test wicket-taker James Anderson out of the test due to injury, he said it does not matter who England plays or not, the only thing which matters in this series is that we have to play at our best.�English team is very good at the moment as they thumped Sri Lanka in the series,� he said while talking to a private news channel.He said our openers are struggling at the moment and we have to pay special attention to it. �Though Muhammad Hafeez is looking lost in the English conditions but still we should open with him,� he said.He said Hafeez has struggled outside Pakistan and the United Arab Emirates (UAE). �England and Australia series are very important for Hafeez�s career.��He should know that he is not a youngster anymore and if he doesn�t perform then he won�t get many chances,� he said. Waqar said if Hafeez doesn�t go well as an opener in this series then we should try Sami Aslam.�He said Pakistan will be facing many challenges in this series when it comes to British media, the pitches and the conditions there. �Fingers will also be raised on Mohammad Amir but our focus should be on winning the series,� he said.He said our cricketers got plentiful of time prior to the series to practice well. �Now if they (players) fail they cannot complain that they did not get enough time to prepare themselves for the series,� he said.Waqar said Amir is a very good bowler and can do well in any pitch. �Wahab Raiz, Imran Khan, Sohail Khan and Rahat Ali are good bowlers and can do well in the series depends on the conditions of pitches they are played on,� he said.It may be mentioned that Waqar faced great criticism after Pakistan was unable to make it to the semi-finals of the World Twenty20 2016. After winning against Bangladesh in the World T20, the team lost against New Zealand, India and Australia, leading to their outing.On April 4, Waqar resigned as head coach of the team, just after Shahid Afridi resigned as T20 captain.
 A Court of Arbitration for Sport decision on the two-year doping ban for Maria Sharapova has been put back two months to September, the court said Monday, ruling the tennis superstar out of the Rio Olympics.</strongThe 29-year-old Russian, one of the biggest names in tennis, tested positive for the banned medication meldonium during January�s Australian Open, in a severe blow to her reputation."Maria Sharapova and the International Tennis Federation (ITF) have agreed to defer the CAS decision until September 2016," said a CAS statement."Due to the parties requiring additional time to complete and respond to their respective evidentiary submissions, and several scheduling conflicts, the parties have agreed not to expedite the appeal. A decision is expected to be issued by September 19, 2016."The original ruling was expected by July 18, with Sharapova hoping that a successful appeal would have allowed her to spearhead the Russian tennis team in Rio.Russia�s participation at the Games, which begin on August 5, is already under fierce scrutiny after its track and field team was banned for separate state-sponsored doping.Sharapova�s ban was backdated to January 26 this year, when she tested positive for the prohibited substance.Meldonium was added to the world anti-doping WADA list on January 1. Sharapova said she had been taking it for 10 years to help treat illnesses, a heart issue and a magnesium deficiency.Sharapova has previously blasted the ban as "unfairly harsh".The CAS statement added: "In her appeal to the CAS, Ms Sharapova seeks the annulment of the (ITF) tribunal�s decision to sanction her with a two-year period of ineligibility further to an anti-doping rule violation."Ms Sharapova submits that the period of ineligibility should be eliminated, or in the alternative, reduced. The final decision will be announced and published by CAS when it is available."
 Bangladesh Cricket Board (BCB) has ruled out a neutral venue for their home series against England should the visiting team cancel their tour of the south Asian country after the July 1 attack at an upmarket Dhaka restaurant that left 20 dead.</strongEngland's limited overs captain Eoin Morgan has called it a "big concern" and felt a neutral venue to host the three-one day internationals and two tests would be a "feasible" idea."We always believe this (neutral) is never a solution," BCB chief executive Nizamuddin Chowdhury told the local media."Cricket cannot stop in a country. The cricket operations of both BCB and ECB (England and Wales Cricket Board) are in continuous communication regarding the England tour of Bangladesh in October."They are in discussion with the tour related matters, especially the logistics."An England and Wales Cricket Board (ECB) spokesman said they would follow government advice on the trip."A security delegate from England was supposed to come last month, but as they have tour of India after Bangladesh, I think they will do the security inspection of the two countries together," Chowdhury said."We will get to know when they get confirmation from the two boards."Security has been an issue in the country previously. The Australian team postponed their Bangladesh tour last year and then pulled out of the under-19 World Cup following an advice from their government."We have very good track record of hosting successful international events with the support from the government and the law enforcement departments," Chowdhury said.England were set to play three ODIs and two tests from Oct. 7 to Nov. 1 in Bangladesh.
 The floppy hair he had as a teenager may have been replaced by a shorter cut and the once clean-shaven face is now home to a goatee beard.</strongBut there was no mistaking the whippy left-arm action as Mohammad Amir ran into bowl against Somerset at Taunton last week or the "airplane" celebration that greeted his three first-innings wickets.It was a sight many fans would have been forgiven for thinking they would ever see again on an English field after Amir�s career came to a dramatic and possibly terminal halt at Lord�s in 2010.During that year�s Test against England, Amir and Pakistan new-ball partner Mohammad Asif bowled no-balls to order on the instructions of their captain Salman Butt as part of a sting operation carried out by a tabloid newspaper.All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.<br/>There was a sense of shock and anger among cricket fans, although in Amir�s case there was also an overwhelming sense of sadness that an 18-year-old should have become caught up in such a scandal.Former West Indies fast bowler Michael Holding is not given to excessive displays of emotion in his work as a television commentator and pundit.Yet he was in tears as he discussed Amir�s plight live on air the morning after the night the story broke during the Lord�s Test.For Amir was -- and on the evidence of the Somerset match still is -- a superbly skilled bowler, with the rare ability to make the ball swing late at sharp pace off a good length, one of the most difficult types of bowling for even the best batsmen to face.It helped him earn him the Pakistan man of the series award against England after he had taken 19 wickets at under 19 apiece in four Tests.Amir, Asif and Butt were all given five-year bans by the International Cricket Council and the trio were all jailed by an English court.Yet the talent Amir had shown created a certain sympathy among cricket fans amid a widespread belief that he had been led astray by more experienced team-mates./><strong>'Second chance�</strongNevertheless there were plenty of calls at the time and since for the three players to all be given life bans.<br/>Former England captain Nasser Hussain, speaking soon after the scandal broke, saw both points of view."Part of me says you�ve got to make a statement, and say: �Right, ban for life�....But another part of me says, �Should you give a person another chance?�."Amir who served three months in an English young offenders� institute, now has that chance.He has only played limited overs internationals for Pakistan since his return, but his career could come full circle when the first of a four-Test series against England starts at Lord�s on Thursday.Interestingly, Amir himself is now in favour of life bans, telling AFP in an interview in Karachi last month: "If fixing is still happening then it�s really alarming. I fully back that fixers should be banned for life."With Amir�s talent undimmed, Pakistan captain Misbah-ul-Haq was in no doubt of his potential.<br/>"If you look at his bowling speed, swing and control -- it�s there," said Misbah ahead of the Somerset match.<br/>"He can still be the best bowler in the world."England captain Alastair Cook, who played in the 2010 match, suggested Amir might get a rough ride from the Lord�s crowd.But there were no boos at Taunton and he could well get a polite reception at the "home of cricket".<br/>"You don�t see many 18-year-old�s bowl like he did, he is an exceptional talent," said Cook at Lord�s last week.<br/>"It will be difficult for us."Meanwhile Amir is well aware of his good fortune. "I still can�t believe that this is happening," he said.<br/>"You call it a coincidence or whatever but for me it�s a blessing that I am restarting (Tests) right at Lord�s from where I stopped in 2010."
Wimbledon champion Serena Williams said on Saturday she was concerned about the safety of her nephews in the United States after two black men were shot dead by police and five law enforcement officers were killed in an assault in Dallas.</strongThe 34-year-old, whose elder half-sister Yetunde Price died in a drive-by shooting in Los Angeles in 2003, was asked about the violence back home shortly after winning her seventh Wimbledon singles crown and 22nd grand slam singles title.The shooting of two men in Louisiana and Tennessee this week led to a protest march in Dallas where a lone gunman opened fire killing five police and injuring seven."I feel anyone in my color in particular is of concern. I do have nephews that I�m thinking, �do I have to call them and tell them, don�t go outside.If you get in your car, it might be the last time I see you?�" Williams told reporters. "That is something that I think is of great concern because it will be devastating.They�re very good kids. I don�t think that the answer is to continue to shoot our young black men in the United States. It�s just unfortunate. "Also, obviously violence is not the answer of solving it.<br/>The shooting in Dallas was very sad. No one deserves to lose their life, doesn�t matter what color they are, where they�re from.<br/>We�re all human."Williams, arguably the world�s most famous female athlete said the current tension in the United States was "very painful". "We have to learn that we have to love one another. It�s going to take a lot of education and a lot of work, I think, to get to that point," she said. "But I think, in general, the entire situation is extremely sad, especially for someone like me."Authorities on Friday named Micah Johnson, a former U.S. Army reservist who served in Afghanistan, as the lone gunman responsible for Thursday�s sniper attacks, which shattered an otherwise peaceful protest denouncing the two fatal police shootings earlier in the week.
 Dalilah Muhammad blitzed the field in the 400-meter hurdles with the fastest time of the year to clinch her ticket to Rio at the US Olympic track and field trials on Sunday.</strongMuhammad, 26, stormed home by several meters to take the line in 52.88 seconds, easily outstripping the previous season best of 53.51sec set by Shamier Little.Ashley Spencer was second in 54.02sec while high school student Sydney McLaughlin was third in 54.15.Muhammad, the 2013 World Championships silver medalist, collapsed on the track in delight after a superb performance which saw her shave around a second off her personal best.Meanwhile McLaughlin will celebrate her 17th birthday on August 7 in Rio. McLaughlin held her nerve brilliantly to claim her third place finish in a junior world record time.�
Cristiano Ronaldo wept with sadness and joy as substitute Eder�s extra-time goal saw Portugal beat hosts France 1-0 in Sunday�s Euro 2016 final to win their first major tournament.Ronaldo was stretchered off in the first half after being injured by Dimitri Payet, but returned to the touchline to see Eder�s long range strike settle the game at Stade de France."It was not the final I wanted, but I am very happy," Ronaldo said."It is a trophy for all the Portuguese, for all immigrants, all the people who believed in us, so I am very happy and very proud."Portugal centre-back Pepe, voted the man of the match, said: "We said we would win it for him and we managed to do that."Twelve years after losing 1-0 to Greece as hosts of Euro 2004, Portugal inflicted the same fate on France, who were seeking a cathartic victory eight months on from the Paris attacks that left 130 people dead.France coach Didier Deschamps had hoped to lead his country to a fourth major tournament win, and third on home soil after Euro 1984 and the 1998 World Cup, when he was captain.But it was Portugal skipper Ronaldo who hobbled up the steps to lift the trophy beneath a shower of silver tickertape."The disappointment is there and it�s immense," Deschamps told French television.<br/>"We�ve let a big chance to be champions pass us by. There are no words to describe this feeling."/><strong>�Ugly duckling�</strong"Football is cruel, but it�s also magnificent. It allows us to experience wonderful times and sad times too," said France striker Antoine Griezmann, whose six goals earned him the Golden Boot award.The result ended Portugal�s run of 10 straight defeats against France, who had eliminated them in the semi-finals at Euro 1984, Euro 2000 and the 2006 World Cup.They took the spoils in France despite having won only one match inside 90 minutes -- the 2-0 semi-final victory against Wales -- in the whole tournament.Coach Fernando Santos, who dubbed his team "the ugly duckling", said: "We have a bright future, but right now we need to celebrate."Victory was especially sweet for Real Madrid superstar Ronaldo, despite his early exit.<br/>He had shed tears as a 19-year-old after Greece�s Euro 2004 win in Lisbon, wept as he was carried off onSunday and cried again as he raced on in celebration at full-time. In winning a major tournament he surpasses Portugal greats Eusebio and Luis Figo.Having also won last season�s Champions League, he has a stolen a march on his great rival Lionel Messi, who announced his Argentina retirement two weeks ago, in the race for the next FIFA Ballon d�Or.Taken off in the 25th minute, he returned at the start of extra time to deliver on-pitch pep talks that appeared to inspire his team to victory.Eder saw a header pushed out by France goalkeeper Hugo Lloris, while Raphael Guerreiro hit the bar from a free-kick.With 11 minutes of the extra period to play, the killer goal arrived as Eder held off Laurent Koscielny and drove a crisp shot into the bottom-left corner from 25 yards."Cristiano told me I would be scoring the winning goal," Eder said. "He gave me strength and positive energy."/><strong>Ronaldo applauded</strongThe sultry night began with a swarm of moths flitting around the French national stadium and littering the playing surface.There was an early exchange of chances -- Nani shooting over for Portugal, Griezmann�s header drawing a fine finger-tip save from Rui Patricio -- before Ronaldo took centre-stage.A juddering knee-on-knee challenge by Payet in the eighth minute left Ronaldo writhing on the turf and after attempting to play on, he dropped to the ground, tears filling his eyes.After having his left knee heavily strapped, Ronaldo re-entered the fray, only to go down again, flinging his armband to the floor.A stretcher was brought on and as the Portugal captain was carried off, to be replaced by Ricardo Quaresma, the whole stadium rose to applaud.France�s Moussa Sissoko stepped into the spotlight vacated by Ronaldo, driving a left-foot shot over the bar and then stinging Rui Patricio�s palms after nutmegging Adrien Silva with a slick Cruyff turn.But it took the 58th-minute introduction of Kingsley Coman to enliven France. The Bayern Munich winger crossed for Griezmann to head over and released Olivier Giroud for a shot that Rui Patricio parried.Rui Patricio also repelled a 25-yard effort from Sissoko and when France substitute Andre-Pierre Gignac neatly sidestepped the fit-again Pepe in stoppage time, he could only scuff his shot against the post.
� French police fired tear gas during clashes Sunday evening with a group of football supporters denied entry to a packed Eiffel Tower fan zone showing the Euro 2016 final between France and Portugal.</strongThe clashes took place outside the fan zone, which was closed before kick-off after reaching a maximum capacity of 90,000, causing disappointment and anger among those waiting to be admitted.The base of the Eiffel Tower was engulfed in clouds of tear gas as riot police repelled the youths, who started fires on the pavement and threw bottles and other objects at the police lines, AFP photographers said.Some of the demonstrators wore French flags knotted around their necks in a sign of support for the home side.The police, who had posted a message on Twitter and issued warnings in the metro informing supporters the fan zone was full, used water cannon to extinguish the blazes.
 The Stade de France was invaded by swarms of moths ahead of Sunday�s Euro 2016 final between Portugal and France.</strongHundreds of large black moths flew around the stands of the 80,000-capacity stadium north of Paris as well as by the pitch in temperatures which even at 1830 GMT hovered around 28 degrees Celsius (82 degrees Fahrenheit).Portugal�s Cristiano Ronaldo was seen swatting away several of the creatures as he warmed up while others swarmed around microphones, the corner flags and goal-posts."Unbelievable the pitch is full with moths" tweeted former Netherlands striker Ruud Gullit, attending the final as a television pundit.The decision to leave the stadium lights on overnight ahead of the game may help explain the bizarre invasion.
Portugal captain Cristiano Ronaldo was stretchered off injured in tears just 25 minutes into Sunday�s Euro 2016 final against France in Paris.</strongThe Real Madrid forward hurt his left leg in an eighth minute collision with French star Dimitri Payet. He attempted to play on with a heavily bandaged knee but finally gave up.After one acceleration midway through the first half Ronaldo signalled to the bench that he could not carry on. The 31-year-old striker could not hide his despair as he was replaced by Ricardo Quaresma with the game still goalless.Payet had won the ball with a heavy challenge and in the follow through collided with Ronaldo�s left knee, sending him rolling around the turf clutching the knee. Payet escaped any sanction from English referee Mark Clattenburg.Ronaldo twice received treatment on the side of the pitch and twice returned to the field before finally deciding he could not continue.Real Madrid teammate Gareth Bale, whose Wales team were eliminated by Portugal in the semi-finals, tweeted: "Terrible to see Cris come off like that. Hope it�s nothing too bad."Ronaldo cried tears of despair in the 2004 final when his country lost 1-0 at home to Greece. He had said before this final that he wanted to be "crying for joy" this time.
 Michael Matthews completed the full set of Grand Tour stage victories with a "dream come true" success at the Tour de France 10th stage on Tuesday.Reigning champion Chris Froome retained the leader�s yellow jersey, the Briton rolling over the line with a languid peloton almost 10 minutes behind Matthews.The 25-year-old Australian had already taken three stage wins at the Vuelta a Espana and two on the Giro d�Italia.But on Tuesday he pipped world champion Peter Sagan and Edvald Boassen Hagen of Norway in a sprint finish following great teamwork from his Orica outfit.Fellow Aussie Luke Durbridge and South African Daryl Impey sacrificed their own victory chances to allow the fast-finishing Matthews to burst to the line first at the end of the 184km trek from Andorra to Revel.Matthews, from Canberra, even had time to lift his arms in celebration before crossing the line."It�s unbelievable. It�s only just sinking in," said Matthews. "I was close to giving in at this race after I had two bad crashes two years and one year ago. I thought maybe this race is not for me but today my dream came true. <br/> "It was never the plan to go for a breakaway today. We wanted a bunch sprint finish but we�re such a strong group of guys.It was a high calibre six-man sprint containing four former Tour stage winners, while Impey once wore the race leader�s yellow jersey.That remained with Froome, with his British countryman Adam Yates, who also rides for Orica, second at 16sec and Dan Martin of Ireland third overall at 19sec.�
 The Jason Holder-captained West Indies squad for the upcoming four Test series against India was released on Monday, with Denesh Ramdin a frustrated absentee.Ramdin took to social media to express his displeasure at being overlooked for the series with the first Test starting in Antigua on July 21.The West Indies wicket keeper was served with an unspecified punishment for venting his frustration in public, the West Indies Cricket board announced in a statement.Ramdin was a member of the one-day-international squad which finished runners-up in the Tri-Nation series with winners Australia and South Africa.Also missing was 32-year-old right-arm fast bowler Jerome Taylor, who has retired from this format of the game.Taylor played 46 Tests for the West Indies, taking 130 wickets.His best bowling figures are six for 47 against Australia at Sabina Park in 2015.He has had four five-test wicket hauls in his 13-year Test career. His top score was 106, batting at number 8 against New Zealand in 2008.He debuted against Sri Lanka in 2003 and played his last Test series against Australia in January this year.West Indies squad: Jason Holder (captain), Kraigg Brathwaite, Devendra Bishoo, Jermaine Blackwood, Carlos Brathwaite, Darren Bravo, Rajendra Chandrika, Roston Chase, Shane Dorwich, Shannon Gabriel, Leon Johnson, Marlon Samuels<br/> <br/> Fixtures:<br/> July 21-25: Sir Vivian Richards Cricket Ground, Antigua,July 30-Aug 3: Sabina Park, Jamaica,Aug 9-13: Daren Sammy National Cricket Ground, St LuciaAugust 18-22: Queen�s Park Oval, Trinidad and Tobago
 Golfer Siddikur Rahman has become the first ever Bangladeshi to directly qualify for the Olympics Games after cementing his status as one of the top 60 players for next month�s tournament in Rio de Janeiro.The 31-year-old�s place was confirmed when he finished in 56th place in the rankings list published by the International Golf Federation on Monday, the cut-off date for qualification.Bangladesh is the most populous country never to have won an Olympic medal and all previous entrants have had to rely on wildcards provided by the International Olympic Committee and other international sports bodies.While several of the world�s top golfers, including Rory McIlroy and Jordan Spieth, are staying away from Rio, two-times Asian Tour winner Siddikur has made clear his excitement at the prospect of competing for a medal.Speaking to the Asian Tour�s official website last week, Siddikur described the Olympics as "the top of the tree for sports".In a country otherwise obsessed with cricket, Siddikur has become a major star in Bangladesh and been dubbed the "Tiger Woods of Bengal".He developed his love of the game by collecting balls at Dhaka�s upmarket Kurmitola Golf Club before turning professional in 2005.Siddikur is now expected to carry Bangladesh�s flag in the opening ceremony in Rio on August 5 as the head of a small contingent which will include four compatriots who have been granted wildcards.It is the first time in 112 years that golf has been staged at the Olympics, with 60 competitors each in the men�s and women�s events playing a 72-hole strokeplay tournament.�
 England should have gambled on seamer James Anderson's fitness and included him in the squad for the first test against Pakistan at Lord's, paceman Stuart Broad has said.</strongAnderson, England's most successful test bowler with 454 wickets, was left out of England's 12-man squad for the first match of the four-test series beginning on Thursday.In his absence, Toby Roland-Jones or Jake Ball will make a test debut at Lord's."I would have been tempted to have Jimmy in the 13, then you have him around working with the bowlers, pushing his fitness to maybe play on Thursday," Broad told British media."I saw him (last week) and he was doing OK. He was pretty certain he would be included. I don't want to speak for him but he will be disappointed he is not in the squad."I think he has probably been told he has to play some cricket to be 100 per cent because the sensible thing is you do not risk him in the first (test) and have him out of the rest, you get him right for Old Trafford (the second test)."The first test at Lord's on Thursday is likely to be a tense occasion as it marks the return of Pakistan's Mohammad Amir to the scene of his spot-fixing scandal of 2010, for which he was given a five-year ban.
 Australia paceman Mitchell Starc can take 300 test wickets and join the ranks of the nation's great seamers if he can stay fit for long enough, coach Darren Lehmann said.</strongLeft-armer Starc, who has 91 wickets from 25 matches, has replaced the retired Mitchell Johnson as Australia's pace spearhead but a succession of foot injuries have stifled the 26-year-old's output.After a long lay-off following ankle surgery, Starc made a successful return in the Caribbean for the one-day tournament against West Indies and South Africa last month and will lead the attack for Australia's three-test tour of Sri Lanka.Only four Australian seamers have breached the 300-wicket mark, with Glenn McGrath (563) topping the list ahead of Dennis Lillee (355), Johnson (313) and Brett Lee (310), but Lehmann said Starc had the qualities to join the club."If he stays on the park, he could," Lehmann said in comments published by Fairfax Media on Tuesday."He plays all formats -- that is the hardest part for him."Managing him through that is going to be our challenge as a coaching staff and selection panel, and (for) high-priority test tours, one-day tours, World Cups and all that ... making sure he is fit and available for those."Starc took eight wickets in the Caribbean at an average of 21.37 from his five matches and Lehmann was delighted with the return after the Sydney-born seamer had his home summer wiped out by injuries, forcing him to miss the World Twenty20."Happy he got through ... He said he was a little bit rusty early but felt better as the tournament went on. It's a good sign," said Lehmann."For us it was a pretty good tick-the-box exercise where he got through and we're looking forward to the next phase of test cricket."Australia play the first test against Sri Lanka at Pallekele from July 26 and Lehmann said he felt Starc's reverse swing would be telling during the series."He obviously has air speed, which is going to be important when the ball goes reverse. It's important that we keep him fit and playing. We know how good he can be," Lehmann said."It's all up to him. His ability to knock over good batsmen and also knock over the tail quite quickly, for us, that is a really important thing when you are trying to get 20 wickets in a space of time."
 West Indies have replaced wicketkeeper Denesh Ramdin with Shane Dowrich for the four-Test series at home to India which starts in Antigua next Thursday.Ramdin, a veteran of 74 Tests, said he had been dropped because the selectors did not think his batting average was good enough.He has scored 2,898 Test runs at an average of 25.87."New chairman says my avg isn�t Gud," Ramdin tweeted, referring to new West Indies chairman of selectors Courtney Browne, who has replaced Clive Lloyd.Ramdin�s comments earned a sanction from the West Indies Cricket Board (WICB) for a breach of the terms of his retainer contract, the board said.Dowrich, 24, has played two tests, against Australia in the Caribbean last summer, though he was used then as a specialist batsman, with Ramdin keeping wicket.The 12-man squad again does not include several of the most dynamic West Indies players, such as Chris Gayle, Dwayne Bravo, Darren Sammy and Kieron Pollard, whose focus is on Twenty20.Fast bowler Jerome Taylor is also missing after becoming the latest in a long list of players to quit the test format.West Indies� fortunes have diverged in recent years, with the Twenty20 team winning the world championship in 2012 and 2016, while test performances have deteriorated sharply.Fast bowler Jason Holder captains the team, which also includes the two batting heroes from the recent World Twenty20 triumph, Marlon Samuels and Carlos Brathwaite.Squad: Jason Holder (captain), Kraigg Brathwaite (vice captain), Devendra Bishoo, Jermaine Blackwood, Carlos Brathwaite, Darren Bravo, Rajendra Chandrika, Roston Chase, Shane Dowrich, Shannon Gabriel, Leon Johnson, Marlon Samuels
 The 2016 US Open, the fourth and final Grand Slam of the year, will dish out a record $46.3 million in prize money, including $3.5 million for the men�s and women�s singles champions.The bumped-up new purse, announced by the US Tennis Association, will make for an increase of about 10 percent per round for players, with the singles runners-up commanding $1.75 million.The numbers outstrip those paid at the other Grand Slam events. This year�s Wimbledon champions, Andy Murray and Serena Williams, earned two million pounds (about $2.6 million) apiece out of a prize money pool of 28.1 million pounds."We are proud that this year�s US Open will offer the richest purse in tennis history," said USTA president Katrina Adams.This year�s edition of the US Open will begin August 23 and feature a new retractable roof over Arthur Ashe Stadium Court as well as a new Grandstand Stadium.
 Mohammad Amir may be the centre of attention in the build-up to the first Test against England at Lord�s, but Thursday�s match is also a milestone for Pakistan captain Misbah-ul-Haq.Selection rows and fall-outs with previous Pakistan regimes mean that experienced batsman Misbah is now making his first Test tour of England at the advanced age of 42.It was six years ago that Amir, new-ball partner Mohammad Asif and then-captain Salman Butt tarnished the reputation of Pakistan cricket with their involvement in a spot-fixing affair that saw the trio conspire to deliberately bowl no-balls during the 2010 Lord�s Test against England.All three were given five-year bans and jail sentences.The intervening period has not been easy for Pakistan, who have had to get used to playing all their "home" matches in the United Arab Emirates because of security concerns arising from an armed attack on Sri Lanka�s team coach in Lahore in 2009.But under Misbah�s shrewed guidance Pakistan have become tough to beat in the UAE and a competitive side abroad, traits reflected in their third place in the current world Test rankings -- one position above England.Indeed they have yet to lose a Test series in their adopted home, with England beaten in two of those campaigns for an aggregate 5-0 scoreline in Pakistan�s favour.An experienced batsman who has had a calming effect on the players around him, Misbah has overseen the reintegration of Amir into the side.Having coped with the understandable interest in Amir making his return to Test cricket at Lord�s, the scene of the crime, Misbah had no problems in fending off enquiries about how long he intends to keep playing for Pakistan."My retirement has been discussed every series," Misbah told reporters at Lord�s on Wednesday. "I could have retired after the UAE against England (last year) -- but we�ve been playing together for six years."I decided I need to be here in a tough series for Pakistan, and I really want to do well here."Misbah has a fine Test record, with nearly 4,500 runs at an impressive average of nearly 49 in 61 matches.Yet for all his experience, there is still something special about playing a Test at "the home of cricket"."There are no nerves (yet)," said Misbah. "That�s something you always wait for."It�s a big occasion -- everyone wants to play at Lord�s, just to perform well here and get the respect of every spectator and supporter."But for Misbah it is the health of the Pakistan team, rather than personal goals, which remains his priority."If you analyse what we did in the last six years, it�s overall discipline, belief -- consistently playing the same team," he said. "We missed bowlers -- but Yasir Shah came in, and they�ve been outstanding."With the batting line-up, it�s discipline".He added: "Luckily, we played most cricket in UAE, have got used to conditions and made the most of it."It�s given us good confidence, and that is really helping in Test cricket."�
 A 12-member Pakistan cricket team announced for the first match of the four-Test series against England, to be played here at the historic ground of Lord�s on Thursday.Hosts England �have already announced their playing XI for the match.Teams and officials for the first Test between England and Pakistan at Lord�s on Thursday:England: Alastair Cook (capt), Alex Hales, Joe Root, James Vince, Gary Ballance, Jonny Bairstow (wkt), Moeen Ali, Chris Woakes, Stuart Broad, Steven Finn, Jake Ball./> Pakistan: Mohammad Hafeez, Shan Masood, Azhar Ali, Younis Khan, Misbah-ul-Haq (capt), Asad Shafiq, Sarfraz Ahmed (wkt), Wahab Riaz, Mohammad Amir, Sohail Khan, Yasir Shah, Rahat Ali.Umpires: Kumar Dharmasena (SRI), Joel Wilson (WIS), TV umpire: Rod Tucker (AUS)<br/> Match referee: Richie Richardson (WIS)
 Manchester United's pre-season tour of China this month, when they face Manchester City and Borussia Dortmund, will give the players an opportunity to forge a close bond, manager Jose Mourinho has said.</strongUnited's first game under Mourinho will be against last season's Bundesliga runners-up Dortmund in the International Champions Cup in Shanghai on July 22.The 53-year-old Portuguese manager will also renew hostilities with old adversary Pep Guardiola, who replaced Manuel Pellegrini as City's manager, on June 25."I hope to see a group, from an emotional point of view, coming together and getting to know each other better and understanding each other better," Mourinho said in an interview with adidas' Front Row."It's important from a football point of view, but also from a human qualities point of view, that's very important. I think the pre-season tours are also for the club dimension."United will take on Premier League champions Leicester City in the annual Community Shield game at Wembley on Aug. 7. The 20-times English league winners begin their league campaign with a trip to Bournemouth on Aug. 14.
 Pakistan first Test against England beginning on Thursday (July 14) at Lord�s will see the long-awaited return of pacer Mohammad Amir to the venue and to the game.</strongAmir was banned in 2010 along with Mohammad Asif and Salman Butt for the infamous spot-fixing scandal. Amir made his domestic comeback playing for Omar Associates in the Grade II Patron�s Trophy on March 13, 2015. He took a wicket in his first comeback over.On August 19, 2015, Amir was declared completely free to play all forms of cricket from September 2, 2015.He made his return to international cricket on January 15 this year, in a Twenty20 match against New Zealand. In February 2016, Amir took a hat-trick in a Pakistan Super League match for Karachi Kings.As Amir is all set to make a return to Test cricket on the same venue after a gap of six years, many cricketers believe that the pacer would make a strong impact in the game.Former Twenty skipper Shahid Afridi said the media was �putting undue pressure� on Amir. He urged Amir to stay strong in the series in England.�I am hopeful that Amir will fulfill the expectations of everyone and will perform with all his might in the series against England,� he said while talking to a news channel.Test captain Misbah-ul-Haq said if you look at Amir�s bowling speed, swing and control it is there. �I think he can still be the best bowler in the world,� he said.�He knows he is under pressure but he is handling that very well. It is a good opportunity for him to come here, where he had those problems, and show the world he can perform and deliver for the team and win back all his fans. That�s what he is working hard for,� he said.Former pacer Shoaib Akhtar had advised Amir to remain humble on the England tour and perform with all his might on the field.�The best way for Amir to counter is to perform on the field which I am sure he can do. But he also has to remain humble and not show attitude. He has to blend in with his teammates and win matches for them,� he said.Pacer Wahab Riaz said as a team, as a squad of 17 plus our team management, all of us are going to support Amir. �We are all behind him, we are all supporting him, whenever he needs us, however he needs us, we will be around him all the time,� he said.
 Former Pakistani cricket team captain and swashbuckling batsman Shahid Afridi said in his latest statement that the cricketing talent in the country did not match up to its demand in Pakistan.</strong>�According to details, Afridi expressed his views about cricketing talent in the country during an interview with BBC Urdu. The pinch-hitter said that the type of talent that was coming up in Pakistan did not match with the cricket demand in the country.�"We always say that Pakistan has very talented cricketers. But it is not producing the sort of talent needed for international cricket. Sorry. No talent," he said.�Afridi said during the same interview that there was a lot that could be corrected in the Pakistan Cricket Board (PCB) but if he said anything, he would be sent a notice the next morning.�Shahid Afridi also spoke on Pakistani fast bowler Mohommad Amir and said that even at such a young age, Amir was quite mature. He said that the bowler was mentally very strong and expressed the hope that Amir would fulfill the expectations that everyone had from him.�In response to a question about Mohommad Amir playing for the first time after his spot-fixing scandal, Afridi stated that it was an old practice of the British media to pressurize any cricketer they viewed as a threat before an important series.�On the issue of retirement, Afridi said he had never been a burden on the national cricket team. The all-rounder said that God had bestowed him with a lot of respect and that he would continue to play cricket with respect and also quit the game with dignity.�In response to a question about improving cricket for women in the country, Afridi stated that it was important first to enhance men's cricket in the country. He stated that when male cricketers complain of lack of facilities, imagine the difficult circumstances female cricketers had to cope with.��
 Pakistani cricketer and former captain of the national side Salman Butt said that it was now time to forget about the spot-fixing saga and move on.�</strongSpeaking to Geo News, the Pakistani cricketer said that�the controversy that had erupted six years earlier at Lords should now be forgotten. He said negative elements were highlighting the issue time and again in order to worry the Pakistan team.�"It is time to move forward now since all who were involved in the case have completed their sentences," he said.Butt's statement comes ahead of Pakistan's first tour of England after six years. The last time the two sides met, Salman Butt was the captain of the national side which had been rocked with the spot-fixing saga. Ultimately, Butt, Asif and Amir were found guilty of being involved in spot-fixing.�All three players served five-year bans after being found guilty of bowling deliberate no-balls against England in the Lords test match six years ago.�A couple of days ago, English batsman Kevin Pietersen had called for banning Mohommad Amir for life.�<br/><br/>"People always deserve a second chance in life but sport is different. We are paid to play a sport we love and are damn lucky to lead the life of a professional cricketer. To try and gain an advantage by taking drugs or devaluing your sport by being bribed is breaking the 11th and 12th commandments. There can be no way back," Pietersen had said.�Pakistan clash against England on 14th July in the first of the four-match test series. The first test match is scheduled to take place at Lords.���
 England batting mainstay Joe Root has dismissed "trash talk" by Pakistan paceman Wahab Riaz who claimed he has got the batsman's number going into the first test at Lord's starting on Thursday.</strongRoot will return to the crucial number three position in the batting line-up against Pakistan and Wahab has already turned the heat on him, claiming the visitors have plans ready for the 25-year-old."I heard about that. It's the same before every series, you generally get a bit of trash talk," Root told reporters."It's getting a bit like boxing now. He is a fantastic bowler. Good pace, gets the ball to reverse swing, so it will be interesting to see how that goes throughout the series."Root has excelled at number four and five and the right-hander is now keen to justify his promotion to top three."I've matured quite a lot as a player and my game has developed a lot," he said. "It will be interesting to see how it goes."Wahab reiterated Pakistan's plans to unsettle Root in Tuesday's news conference."You want me to tell you the plans? Every batsman has a strong point and a weak point and obviously you have to work hard on that and practise hard on that," said the 31-year-old left-arm paceman."Joe Root is the backbone of the England team and getting him out early will put the pressure on England. If he thinks it is just trash talk then hats off to him."
 Cricket pitches need to be more bowler-friendly if the rising imbalance between bat and ball is to be addressed, Indian batting great Sachin Tendulkar has said.</strongThe Marylebone Cricket Club (MCC) world cricket committee on Tuesday recommended limitations on the thickness and depth of bats amid concerns that the sport has tilted heavily in favour of the batsmen in recent years.A report commissioned by the MCC, the guardian of the game's laws, in 2014 found the thickness of bats had marginally increased in the last century and that edges had broadened by 300 percent, meaning even mistimed shots could still find the boundary.Tendulkar, who quit international cricket in 2013 as the game's most prolific batsman both in tests and the 50-over format, demanded more assistance for the bowlers from the playing surface."The wickets need to change; they need to be more helpful for bowlers," Tendulkar said."In T20s, the greatest of bowlers are being reverse-swept. Three-hundred is no longer competitive in ODIs."So there should be at least one format where bowlers have a better chance of executing their skills and making it more interesting for spectators."I don't think it's got much to do with bats, but I'm sure people on the (relevant) panel will be able to look into it."Tendulkar's views echoed the sentiments of Australian opener David Warner who said last week that flat pitches rather than bats with thicker edges are the reason batsmen have the upper hand in test cricket.Tendulkar was part of the panel that recommended Anil Kumble for the India coach's job and he expects the team to benefit from the vast experience of the former leg-spinner."A fabulous player, a hard competitor and will not make any compromises on the field," Tendulkar told ESPNcricinfo."He will be out there to win each and every moment."He played for almost 20 years, so there is plenty to share. I'll just tell the players to grasp as much information from Anil as possible."Kumble, who came out to bowl with a bandaged jaw in a 2002 Antigua test, can also teach the players how to handle adversity, said Tendulkar."There are always big, crunch moments in any match and how to approach those moments is important," Tendulkar said."In sport, over a period of time what you learn is not every day you are successful, sometimes you have to face failures."It is all about being a tough character and be able to stand back on your feet again and to compete the next day. Every day is a fresh day, new beginning. That is something I feel Anil will teach them."
strong>Banned Pakistan bowler Mohammad Amir would not have the chance to return to the sport on Thursday after serving a five-year ban for spot-fixing if former England batsman Kevin Pietersen had his way.</strongHe believes any player caught fixing the outcome of matches or incidents within a game should be given life bans."People always deserve a second chance in life but sport is different," the 36-year old wrote in his column in the Daily Telegraph on Tuesday."We are paid to play a sport we love and are damn lucky to lead the life of a professional cricketer. There can be no way back."Amir returns for Pakistan in the first test against England at Lord's after a five-year exile imposed after he admitted deliberately bowling a no-ball in the fourth test against England in 2010.Pietersen, who played in that match, which England won, said spot-fixing revelations dampened the mood in the victorious dressing room."The story broke on the Saturday night and we all felt sick on the final day of the game. We felt empty when we took the wickets to win the match and did not celebrate," he added."The relationship between the two teams was fractured because we all knew the damage it would do to cricket."Pietersen, who last played for England in 2014, said there was no excuse for cricketers."In cricket the education players receive is so thorough. I have sat through so many (anti-corruption lectures) that I could probably give my own, so ignorance of the rules is no defence," he said."I understand that in the sub-continent cricketers come from villages where there is poverty and deprivation."They get the chance to play international cricket and earn massive sums of money and are exposed to temptation. But to bowl a no ball to earn more money is just greed."
 Wahab Riaz has warned any England cricketers who �sledge� or verbally abuse their Pakistani opponents during the upcoming Test series may get more than they bargained for.</strongThursday sees England and Pakistan meet at Lord�s for the opening Test in a four-match series.<br/>It will be Pakistan�s first series in England since their infamous 2010 tour.That saw bowlers Mohammad Amir and Mohammad Asif, together with the then captain Salman Butt given five-year bans an jail sentences for their roles in deliberately bowling no-balls during that year�s Lord�s Test as part of a spot-fixing �sting� operation by a tabloid newspaper.Later that tour, when the teams returned to Lord�s for a one-day international, fast bowler Riaz and England batsman Jonathan Trott had to be separated in the nets after an angry exchange of words.Riaz, recalling the incident, told reporters at Lord�s on Tuesday. "He was a bit rude and when it comes to being rude you can never beat the Pakistanis on it. We are the most rude when it comes to it."We are nice but if somebody is rude we won�t spare it." The fast bowler added: "He was a bit rude, he was angry, he was not scoring runs, he was getting out early in the ODIs - he was doing well in the Tests."It was a frustration he tried to take out on me." Amir is now back in the Pakistan squad and set to make his Test comeback at Lord�s.Riaz insisted Amir would rise to the occasion and that the Pakistan squad were fully behind his fellow left-arm quick.Pressed on the issue once more, Riaz told an English journalist: "It�s gone now buddy, live in the present."
 Filipino boxing star Manny Pacquiao plans to come out of retirement to fight an as yet to be named opponent later this year, ESPN reported Tuesday.</strongPacquiao�s promoter Bob Arum told ESPN that the former welterweight champion plans to fight on either October 29 or November 5 as a main event bout in Las Vegas as long as it doesn�t clash with his senate duties in the Philippines."Manny wants to come back," Arum said. "The problem is he can only come back if it doesn�t interfere with his senate duties."We had penciled him in for October 15 at Mandalay Bay, but we were informed that is no longer possible because he has to spend that week leading up to October 15 formulating the budget in the senate and doing the votes... so we are looking at October 29 or November 5."
 Chris Woakes removed the Pakistan�s openers Muhammad Hafeez and Shaan Masood in a testing spell, but the Green Caps went in to lunch at 76 for 2 on the first morning of the Lord's Test against England on Thursday.Azhar Ali was seven not out and Younis Khan 18 not out.This is the first of a four-Test series.Pakistan picked three left-arm pacemen -- Mohammad Amir, Wahab Riaz and Rahat Ali -- in their lineup with Yasir Shah as the lone specialist spinner.Mohammad Amir's return to test cricket following a conviction for spot-fixing has dominated the build-up to the series, as has right-hander Joe Root moving up the order to number three for England."Looks a good pitch and the sun is up, so we'll bat first," Misbah said after winning the toss.England captain Alastair Cook too would have preferred to bat first."Always a tempter with a nice bit of green grass but we would have batted, looks a really good wicket," he said.Nottinghamshire paceman Jake Ball makes his test debut in place of the injured James Anderson."We've seen Jake for a few months now and he looks a really good bowler. Pakistan are a really good side and it'll be a really good battle," Cook said.Mushtaq Ahmed rang the five-minute bell alongside MCC chief executive Derek Brewer before starting the test match.img alt="" height="225" src="http://apne.thenews.com.pk/assets/front/tiny_mce/source/247169.3.jpg" width="400"/
 Propelled by an impressive European Championship campaign, Wales climbed 15 places to move into 11th, two places ahead of England, in the FIFA world rankings released on Thursday.</strongChris Coleman's charges reached the last four in France in Wales' first major tournament since 1958 and lost to eventual winners Portugal.England, the 1966 World Cup winners, exited in the round of 16 after a humiliating defeat to Iceland which saw them drop two places to 13th.Iceland, the smallest nation ever to have qualified for the European Championship, with a population of 330,000, saw their fairytale run end in the quarter-finals but saw their rankings jump 12 places to 22.There were no changes in the top five rankings with Copa America finalists Argentina retaining top spot, followed by Belgium, Colombia, Germany and Chile.Five times World champions Brazil, who failed to progress past the group stages of Copa America for the first time since 1987, are on the brink of dropping out of the top 10, ranked at ninth, ahead of Italy.European Championship finalists France jumped 10 places to move to 7th, one place behind winners Portugal.Top 10 (last month's positions in brackets)1. Argentina (1)2. Belgium (2)3. Colombia (3)4. Germany (4)5. Chile (5)6. Portugal (8)7. France (17)8. Spain (6)9. Brazil (7)10. Italy (12)
strong>The slowness of the tracks in West Indies has convinced India off-spinner Ravichandran Ashwin that the only way to succeed in the four-test series is by being "as boring as possible".</strongThe 29-year-old will spearhead a relatively young Indian attack which also includes leg-spinner Amit Mishra and spinning all-rounder Ravindra Jadeja."From whatever I saw in the last game, the wickets are pretty slow," Ashwin told the Indian cricket board website."I will have to be prepared for a long haul and try and be as boring as possible, in terms of trying to plug away all day long."If the wickets are going to be tailormade for us and starts spinning, we'd come into our own. It's all about patience."India play a second tour match in St Kitts before moving to Antigua for the first test from next Thursday, while Jamaica, Gros Islet and Trinidad host the subsequent matches.Ashwin, who was part of the Indian team that won a tri-nation series in the Caribbean in 2013, does not expect much assistance from any of the surfaces."The first couple of days, probably even three days of the test match, there's not going to be a lot in it for the spinners," said Ashwin, who has played 32 tests for India, taking 176 wickets."There might be a little bit of bounce or little bit of slowness in the wicket that you can exploit, but it's got to be pretty boring lines and lengths and keep teasing with your flight. We're pretty much ready for it."Ashwin takes "a lot of pride" in being the leader of the pack and said he has learnt quite a lot since former spinner Anil Kumble took over as the new India coach last month."He has brought in a lot of energy and meticulousness," Ashwin said of the former India captain who begins his year-long tenure with the West Indies tour."He has already started bowling in the nets, which is something I pick out notes from. So far, he has provided me with a lot of confidence and a lot of responsibility."It's been more of giving me the license to try and express myself, which is something I really relish."
 Pakistan captain Misbah-ul-Haq won the toss and elected to bat in the first Test against England at Lord�s on Thursday.<br/></strong><br/>As expected, Pakistan�s Mohammad Amir returned for his first Test appearance since the infamous �spot-fixing� match against England at Lord�s in 2010.�That match saw Amir and Pakistan new-ball partner Mohammad Asif deliberately bowl no-balls on the instructions of then captain Salman Butt as part of a sting operation carried out by a tabloid newspaper.<br/><br/>All three received five-year bans from cricket and, together with sports agent Mazhar Majeed, jail terms.<br/>For all his time out of cricket, the 24-year-old Amir retains the ability to swing the ball late at sharp pace, as he showed with a first-innings haul of three for 36 in Pakistan�s drawn tour opener against Somerset before he was rested from last week�s draw with Sussex.<br/><br/>Pakistan fielded three left-arm quicks Thursday in Amir, Wahab Riaz and Rahat Ali, with leg-spinner Yasir Shah completing a four-man attack.�This was Pakistan�s first series in England since 2010 and Thursday�s match was the 42-year-old Misbah�s first appearance at Lord�s.<br/><br/>England had already named their side on Wednesday, with Nottinghamshire quick Jake Ball given a debut in place of James Anderson, England�s all-time leading wicket-taker.�Anderson, although eager to prove his fitness following a shoulder injury, was left out of England�s squad for this match even though coach Trevor Bayliss and captain Alastair Cook were reportedly keen for him to be included.<br/><br/>Ball has taken 37 first-class wickets at an average of just 22 so far this season.�Before the start of play he was presented with his Test cap by his uncle and former England wicket-keeper Bruce French.<br/><br/>England, who recently won a three-match home series against Sri Lanka, recalled Gary Ballance to their batting line-up after Nick Compton opted to take time out of cricket.�Joe Root was set to fill Compton�s place at number three -- even though his Test average as a top three batsman is under 34 compared to the mark of more than 63 batting at four or five.<br/><br/>Ballance was due to bat at number five.�An initially sunny day at Lord�s would have encouraged Misbah to bat first although the skies had clouded over a touch after he won the toss.�But so good have the pitches been at Lord�s this season, that all of Middlesex�s County Championship matches at the ground have ended in draw.<br/>This is the first of a four-Test series.England: Alastair Cook (capt), Alex Hales, Joe Root, James Vince, Gary Ballance, Jonny Bairstow (wkt), Moeen Ali, Chris Woakes, Stuart Broad, Steven Finn, Jake BallPakistan: Mohammad Hafeez, Shan Masood, Azhar Ali, Younis Khan, Misbah-ul-Haq (capt), Asad Shafiq, Sarfraz Ahmed (wkt), Wahab Riaz, Mohammad Amir, Yasir Shah, Rahat AliUmpires: Kumar Dharmasena (SRI), Joel Wilson (WIS)<br/>TV umpire: Rod Tucker (AUS)<br/>Match referee: Richie Richardson (WIS)Source: AFP
 Wimbledon champion Andy Murray will miss Britain's Davis Cup quarter-final clash against Serbia with captain Leon Smith naming Kyle Edmund and James Ward as his two singles players on Wednesday.</strongMurray was instrumental in helping Britain to their first Davis Cup victory for 79 years last November, but had suggested it was unlikely he would feature against Serbia, who are also missing their talisman Novak Djokovic.In the doubles, Andy's brother Jamie, ranked fifth in the world, will partner doubles specialist Dominic Inglot."This date is a real nightmare for everybody, not just for him (Andy Murray), because it's not easy to change surface again," Smith told reporters."I was hopeful last week that he would play but then he goes and wins Wimbledon and has Olympics and U.S. Open coming up and I hope he does well there also. As a team we are all delighted for him."I hope he comes out Thursday or Friday to support the team."World number 73 Daniel Evans, who was named in the initial squad, also missed out due to personal issues and a shoulder injury.Murray has committed to playing at the 2016 Rio Olympics, where he will look to defend his title.The quarter-finals will take place between July 15-17 at the Tasmajdan Stadium in Belgrade.
 Keen to beat Sri Lanka in their own spin game, Australia have roped in local spin great Muttiah Muralitharan to help their slow bowlers ahead of the three-test series beginning at Pallekele later this month.</strongThe 44-year-old former off-spinner, still the highest wicket-taker in test cricket with 800 scalps, had a similar short-term consulting stint with Australia in 2014."Murali's got a lot of experience in Sri Lanka," Australia captain Steve Smith said. "He took a truckload of wickets."It's great to have someone like that helping our spinners in this series - to give us that insight. He's been really good around the group so far, and he's enjoying his time with us."Muralitharan, who has been seen working with Australian spinners Nathan Lyon and Steve O'Keefe in the nets, said he was looking for such short-term jobs and had no problems helping the visitors plot against his own country."I'm not involved in Sri Lankan cricket at all because there are (other) people who are involved," Muralitharan, a perennial thorn in Australia's flesh during his playing days, told Cricket Australia website."Then, on and off, Australia offered me twice so I said 'why not' because you are passing on the knowledge to other people. It doesn't matter whether it's your country or other people."I think giving quality time to my family is most important, that's why I take smaller jobs - two weeks, three weeks... those sort of jobs are not available in Sri Lanka."Australia were confident opener David Warner, recovering from a broken left index finger, will be fit for the series opener at Pallekele."His recovery is going really well and we expect him to be fine for that first test match," Smith said of his deputy who batted one-handed against Lyon in the Colombo nets.Beginning on July 26, Australia will play three tests, five one-dayers and two Twenty20 Internationals during their two-month-long tour.
 Yasir Shah became the first leg-spinner in 20 years to take a five-wicket haul in a Test innings at Lord�s to leave Pakistan well-placed at stumps on Friday�s second day of their series opener with England.At the close, England were 253 for seven in reply to Pakistan�s first innings 339 -- a deficit of 86 runs, with Chris Woakes 31 not out.Shah, in his first Test since serving a three-month drugs ban -- and his first outside of Asia and the United Arab Emirates -- ran through England�s middle-order on the way to five for 64 in 25 overs.It was the first time any leg-spinner had taken five or more wickets in a Test innings at Lord�s since his compatriot Mushtaq Ahmed�s five for 57 in 1996.Earlier, England captain Alastair Cook made 81 and in the process surpassed India great Sunil Gavaskar as the highest run-scoring opening batsman in Test history.But, in sight of a century, he became Mohammad Amir�s first Test wicket in six years when the left-arm quick, who twice had Cook dropped, got him to play on.Amir, was making his return to Test cricket at Lord�s -- the scene of his 2010 spot-fixing crime which saw him given a five-year ban and a jail term for deliberately bowling no balls.Amir should have had Cook out for 22 when an excellent delivery took the outside edge only for first slip Mohammad Hafeez to drop the routine catch.It was a similar story when left-hander Cook, now on 55, again edged Amir but wicket-keeper Sarfraz Ahmed floored the seemingly simple two-handed chance.Amir screamed in frustration before sharing a wry smile with captain Misbah-ul-Haq, who gave the 24-year-old paceman a consoling pat on the back.After the early loss of opener Alex Hales, Cook and new number three Joe Root shared a stand of 110.Cook, belying his reputation as a steady run-maker, struck three fours in four balls as Rahat Ali strayed onto the left-hander�s pads. But Shah turned the tide when he had Root carelessly hole out off a miscued sweep on 48.James Vince and the recalled Gary Ballance were both lbw as they each failed to �pick� Shah.Cook�s cut four off Amir took him to 61 and beyond Gavaskar�s mark of 9,607 runs as a Test opener.Amir eventually drew Cook wide and got the left-hander to play on to end a 124-ball innings featuring 12 fours.Jonny Bairstow had rescued England from many a top-order slump in recent times.<br/> But on Friday he was deceived into playing back to Shah and bowled by a top-spinner for 29.That left England 193 for six and they were 232 for seven when, after a prolonged review, Yasir won a tight �umpire�s call� decision to have Moeen Ali lbw on the sweep for 23.Even before Ali�s exit had finally been confirmed, Shah had saluted his fifth wicket Friday by kissing the turf. It was the fifth time in just 13 Tests that the 30-year-old Shah had taken five or more wickets in an innings.Earlier, Woakes took a Test-best six for 70 as Pakistan, 282 for six overnight, were bowled out for 339.Misbah only added four to his overnight 110 not out before he was bowled by Stuart Broad.Amir, booed by a small section of a capacity crowd as he walked out to bat, inside edged his first ball in Test cricket in six years, from Broad, for four and was hit on the helmet next delivery when he ducked into another Broad ball. He was last man out for 12, caught in the slips off Broad.
 Pakistan�s Mohammad Amir took his first Test wicket in six years when be bowled England captain Alastair Cook at Lord�s on Friday.Amir was making his return to Test cricket at the scene of his 2010 spot-fixing crime which saw him given a five-year ban and a jail term for deliberately bowling no balls as part of a newspaper �sting� during that year�s Lord�s Test against England.The 24-year-old paceman suffered the frustration Friday of seeing fellow left-hander Cook dropped off his bowling by slip Mohammad Hafeez and wicket-keeper Sarfraz Ahmed, who both missed routine chances, when the opener was on 22 and 55 respectively.But with Cook in sight of a hundred on the second day of the first of a four-Test series, Amir took the fielders out of the equation by inducing Cook to play on for 81.That left England 171 for five in reply to Pakistan�s first innings 339 -- a deficit of 168 runs.At that stage, Amir had taken one for 46 in 12.2 overs, with his 52nd Test wicket coming in his 15th match at this level.Cook, always a prize wicket for any opposition bowler, had suggested before this match that if it were down to him, all fixers, including Amir, would be banned for life.However, the England skipper added that as Amir had "served his time" he had "no problems" in playing against him in this four-match series.By dismissing Cook, Amir had taken his first wicket in a Test match since he dismissed England�s Graeme Swann on his way to figures of six for 84 in an innings and 225-run defeat for Pakistan at Lord�s in 2010 -- a result overshadowed by the spot-fixing scandal.Amir struggled for line and length early in his spell Friday but became increasingly effective as the sunny skies above Lord�s gave way to swing-friendly grey clouds.Cook, on 22, was drawn forward by an excellent delivery only for first slip Hafeez to drop the straightforward catch.It was a similar story when Cook, now on 55, again edged Amir but Sarfraz Ahmed, going slightly to his left, floored the two-handed chance.<br/> Amir screamed in frustration before sharing a wry smile with Pakistan captain Misbah-ul-Haq, who gave the bowler a consoling pat on the back.The floppy hair Amir sported as a teenage may have given away to a shorter cut and his once clean shaven face may now be home to a goatee beard, but when Cook was out there was no mistaking Amir�s trademark arms outstretched �airplane� celebration.Earlier on Friday, tailender Amir was booed by a small section of a capacity crowd as he walked out to bat.He inside edged his first ball, from Stuart Broad, for four. Next ball he was hit on the helmet as he ducked into a Broad delivery. But Amir also hit two well-struck boundaries before he was last man out for 12, caught in the slips off Broad.�
 his first ball was inside-edged for four over his stumps, the second, also from Broad, went flying off the back of his helmet. There were a couple more genuine boundary strokes before Amir steered Broad to second slip to complete a good morning's work for England.
 England will embark on their lengthy tour of India later this year with Rajkot hosting the first of the five Test matches from Nov. 9, the cricket boards announced on Friday.The western Indian city of Rajkot will be making its debut as a Test venue in the series, as will be coastal Vishakapatnam, which hosts the second Test from Nov.<br/> 17.Mohali, Mumbai and Chennai will host the remaining matches of what would be England�s first five-Test rubber in India since 1984-85.Beginning on Jan. 15, England will also play three one-dayers and as many Twenty20 Internationals."This promises to be a historic Test series and a great opportunity for Alastair Cook and his players to repeat the memorable Test series win we enjoyed on our last trip to India in 2012," Andrew Strauss, Director England Cricket, said in a statement."Equally, Eoin Morgan�s white-ball squad will be anticipating hard-fought and competitive encounters against high quality opposition in both formats." he added.Schedule:Nov. 9-13: 1st Test, RajkotNov.17-21: 2nd Test, VishakapatnamNov.26-30: 3rd Test, MohaliDec.8-12: 4th Test, MumbaiDec.16-20: 5th Test, ChennaiJan.15: 1st ODI, PuneJan.19: 2nd ODI, CuttackJan.22: 3rd ODI, KolkataJan.26: 1st T20, KanpuJan.29: 2nd T20, NagpuFeb.1: 3rd T20, Bangalore
 Mohammad Amir was denied a wicket on his long-awaited return to Test cricket as England dominated the second morning of the first Test at Lord�s on Friday.</strongEngland all-rounder Chris Woakes took a Test-best six for 70 as Pakistan, 282 for six overnight, were bowled out for 339.England then raced to 64 for one at lunch, with captain Alastair Cook -- dropped off Amir -- 35 not out and new number three Joe Root 23 not out.The duo�s second-wicket stand was so far worth 56 in just 54 balls.But it might all have been different had Cook been out, as he should have been, on 22, with England then 38 for one.The left-hander was drawn forward by an excellent Amir delivery on off stump only for first slip Mohammad Hafeez to drop the routine catch.Pakistan resumed with captain Misbah-ul-Haq 110 not out after the 42-year-old became the oldest player in 82 years to make a Test century on Thursday.But Misbah added just four runs to his overnight score, with Pakistan losing three wickets for six runs in eight balls as the quick and accurate Woakes did the bulk of the damage.Sarfraz Ahmed made a brisk 25 but the wicket-keeper fell tamely when he cut Woakes straight to James Vince at point.That gave the 27-year-old Woakes his maiden five wickets in a Test innings haul in what was the Warwickshire paceman�s ninth match at this level.Two balls later Woakes, whose previous best was the three for nine he took against Sri Lanka at Chester-le-Street in May, bowled Wahab Riaz for a duck with an inswinger.Misbah was then late on a Stuart Broad ball that came down the slope and was bowled to end a more than five-hour innings with 18 fours.Amir making his return to Test cricket at Lord�s -- the scene of his 2010 spot-fixing crime -- walked out to bat to a handful of boos from a capacity crowd.Amir, who served a five-year ban and was given a jail sentence for his part in the spot-fixing row, inside edged his first ball in Test cricket in six years, from Broad, for four.He was then hit on the helmet as he ducked into a Broad delivery.But he also hit two well-struck fours before he was last man out, caught in the slips by Root off Broad, England�s senior bowler in the absence of James Anderson, ruled out with a shoulder injury.Broad took three for 71 in 27.2 overs.Left-armer Amir opened the bowling and his third delivery swung into the middle of Alex Hales�s bat for a clipped legside four.But Hales fell for six when he misjudged an inswinger from Rahat Ali -- one of three left-arm quicks in Pakistan�s attack -- and was caught in the slips by Azhar Ali.Cook, belying his reputation as a steady run-maker, struck three fours in four balls as Rahat strayed onto the left-hander�s pads.Root joined in with five fours, including a classic straight drive off Rahat.
 Pakistan were dismissed for 339 runs on day 2 of the first test match by a rejuvenated English side.�</strongChris Woakes was the star of the day, who picked up crucial wickets to take his tally to six as he finished the lower half of the Pakistani batting order.�Woakes dismissed Pakistani wicket-keeper Sarfraz Ahmad and Wahab Riaz on two successive deliveries. Mohammad Amir walked in on the hat-trick ball and managed to pull through.�Amir walked into the Lords cricket stadium six years after his career had been jolted at the same venue due to the spot-fixing saga. Amir scored 12 runs from 10 balls, all three being boundaries. However, he was also dismissed in the end by Broad when he was caught by Root.��
 Fast bowler Jake Ball hoped that his performance on his test debut against Pakistan would help silence those critics who questioned his inclusion in the team.</strongThe 25-year-old, who was brought in to replace injured James Anderson, looked threatening early on, and was duly rewarded in his second spell when he trapped Azhar Ali lbw to pick up his first international wicket.Ball finished with figures of one for 51 in 19 overs at the end of the first day�s play."People were sending me messages the day before and the advice was to enjoy it," Ball told British media."I took that into today (Thursday) and hopefully proved to people I can play test cricket."Ball also credited his county team mate Stuart Broad and uncle, England�s wicketkeeping coach Bruce French, for helping him to settle down nerves on the first day."Getting my cap from Bruce settled me down," Ball added."He told me how proud the whole family are of me and to receive it from my uncle was an extra special moment.It was nice; he was holding back the tears."As for settling in, it was nice to have Stuart (Broad) there at mid-on and off, talking me through it and keeping me calm."Ball was unlucky not to have picked up his first wicket earlier in the day�s play, as Pakistan opener Shan Masood survived an lbw review."(The review, second ball) looked pretty close where I was.I was probably a bit caught in the moment but we all agreed and it was a bit unfortunate.Had we got that, it would have been worth it."With the wicket, I was very anxious when I first saw it -- I thought it might be slipping down.To see it just clipping was a real relief.
 Pakistan captain Misbah-ul-Haq said his unbeaten century against England at Lord�s on Thursday was the "top innings" of an impressive Test career.</strongThe 42-year-old Misbah became the sixth oldest player in Test history to make a century as his unbeaten 110 took Pakistan to 282 for six at stumps on the first day of a four-match series.Thursday�s match was Misbah�s maiden Test at Lord�s, selection decisions having seen him miss previous tours of England, yet he secured a coveted place on the dressing room honours board at the very first attempt.As soon as he had completed his 10th Test century, Misbah dropped to the turf.But rather than utter a prayer, Misbah performed several press-ups, just as 73-year-old actor Jack Palance did when winning the Best Supporting Actor Oscar at the 1992 Academy awards.strong>- �Honour code� -</strongBut Misbah�s celebration, which included a salute to the Pakistan flag flying above the Pavilion, was no tribute act.Rather it was a reference to Pakistan�s gruelling pre-tour boot camp at a military academy in Kakul in May."I promised the army guys I would do the push-ups if I got a century," Misbah told reporters after stumps."We had an honour code on the boot camp, for push-ups, so that was my promise to them the next time I scored 100. So that was for them, and the salute was for the flag."Misbah equalled West Indies great Vivian Richards�s then world record for the fastest-ever Test century with a blistering 56-ball hundred against Australia in Abu Dhabi in 2014 -- a mark surpassed by Brendon McCullum�s 54-ball hundred for New Zealand against Australia at Christchurch in February.But Thursday�s hundred ranked higher in Misbah�s estimations."I rate this as my top innings in Test cricket and I�m really happy about that," he said."It�s a dream to play at Lord�s and especially getting 100, and the name on the honours board is something special," added Misbah, who vindicated his own decision to bat first after winning the toss."Obviously when you are playing competitive cricket you just don�t think about your age."If you are there, you just take on the challenge that comes with playing the game."These records are always something special, and they are very satisfying to make those kinds of achievements, but the main thing is just to keep achieving for your country."But with Chris Woakes taking wickets at both the start and end of the day�s play for a return of four for 45, England had reason to be happy with how things had gone as well.Nottinghamshire quick Jake Ball, making his Test debut after England left out all-time leading wicket-taker James Anderson because of concerns he had not yet recovered from a shoulder injury, also got in on the act.He took one for 51 in 19 overs after a yorker that knocked Azhar Ali off his feet saw him win an lbw decision for his first Test wicket.Before play, he received his Test cap from uncle and England wicket-keeping coach Bruce French -- himself a former Test cricketer."That settled me down," said Ball. "He (French) just said how proud the whole family are of me."To receive it from my uncle was an extra-special moment. He was holding back the tears."As for the match situation, Ball added: "The two late wickets have given everybody a big lift."We now know if we can come out in the morning, get a couple and try to restrict them to about 350, then we�re well in the game."
 The Pakistan Cricket Board (PCB) has bought four bulletproof buses as it tries to convince other teams to shed their security apprehensions and visit the country.</strongPakistan has largely been shunned by teams since 2009 when gunmen attacked a bus carrying Sri Lankan cricketers, injuring six players and killing six security personnel and two civilians.The incident has forced Pakistan to play their 'home' matches at the United Arab Emirates and the country has since remained starved of international cricket at home, barring Zimbabwe's limited-overs tour in 2015."We have bought these four Coaster buses as part of our efforts to revive international cricket in the country," a PCB spokesman told ESPNcricinfo."There will be high expectations from teams willing to visit Pakistan and we want to ensure that we provide them with the best possible arrangements."Having these bulletproof vehicles would play a major part in convincing teams (about security arrangements)."The spokesman said PCB wanted to host the final of the Pakistan Super League, the inaugural edition of which was held in UAE earlier this year."We have to have discussions with the (overseas) players about their safety and security and I think this new addition in our security facilities will definitely give us an edge," the spokesman said."Our ultimate goal is to revive international cricket, and we are doing our best to make sure we can."
 Pakistan's sporting decline has left the vast South Asian nation that once prided itself on producing the world's best hockey and squash players facing up to an Olympics for which none of its athletes have qualified.</strongWhile cricket remains a wildly popular game in Pakistan, a nation of almost 200 million people, most other sports have shrunk in popularity as the successes of the 1980s and early 1990s have become a distant memory.In dilapidated gyms and crumbling sports fields Pakistani athletes lament the dated equipment and obsolete training methods which leave them struggling against foreign foes who adhere to the latest science-based techniques.Female athletes have an even bigger mountain to climb: most young girls in the deeply conservative Muslim nation are pressured by their families to stop exercising in public, while those with family backing face the wrath of their communities."We are behind the rest of the world," said Inam Butt, a Pakistani wrestling champion who won gold at the 2010 Commonwealth Games. "Our budget, training and facilities are just nothing. How can we compete?"Butt, like other athletes, says the future will remain bleak until Pakistan's government starts pouring money into sport.The seven participants due to represent Pakistan at next month's Rio Olympics have all been given wildcard entries and stand "no chance" of winning medals, according to Arif Hasan, the Pakistan Olympic Association president.�"They are more or less going for the participation and gaining the experience. Let's hope next time will be better," he said.strong>1980s TRAINING METHODS</strong style="text-align: left;">Those in charge of promoting sport in Pakistan despair.The grassroots system is almost non-existent, children in schools�rarely play a sport which is not cricket, and top athletes seldom compete against the world's best as cash-strapped federations cannot afford to send them abroad. style="text-align: left;">Waqar Ahmed, deputy director of the Pakistan Sports Board, said federations also cannot afford to hire top coaches familiar with scientific training techniques and end up relying on Pakistani trainers with "obsolete" methods from the 1980s. style="text-align: left;">"Athletes are really frustrated because... the coaches are not literate and they have been teaching what they were taught 30 years back," he said. "Without infrastructure we can do a lot, but without the techniques you cannot win." style="text-align: left;">The demise of hockey, Pakistan's national sport, has been painful to watch for an older generation who prospered during the halcyon days between 1960 and 1994, when Pakistan regularly won Olympic gold medals and world championships. style="text-align: left;">Tahir Zaman, Pakistan hockey team coach, said the lack of government support means many young athletes no longer see a future in sports like hockey where top players get $10 per day. Pakistani cricketers, by contrast, are paid $5,000 monthly retainers and make a fortune from sponsorship deals. style="text-align: left;">"The attraction is not there anymore. The (government) is not offering regular jobs for players," said Zaman, who won a bronze playing for Pakistan at the 1992 Olympics. style="text-align: left;">At Lahore's empty 45,000-seat hockey stadium, Pakistani hockey player Hassan Anwar, 21, said that as a teenager his family begged him: "please don't play hockey if you want a bright future". style="text-align: left;">The demise of hockey has been mirrored by the decline in the Pakistani squash scene, where young players know all about 1980s legend Jahangir Khan - considered the greatest ever squash player - but none match his bravura on the court. style="text-align: left;"><strong>WOMEN HARASSED</strong style="text-align: left;">Pakistan's best known squash player is Maria Toorpakay Wazir, ranked 65 in the world, but to train she spent years dressing and pretending to be a boy in the ultra-conservative tribal areas near Afghanistan. Now she trains abroad. style="text-align: left;">Pakistan Olympic chief Hasan says societal "barriers are coming down" for women but many female athletes rue the slow pace of change. style="text-align: left;">At 16, Neelam Riaz's first love was cycling, but her father banned her from training on roads as men would stare at her. In response, she took up karate to learn how to fend off men and eventually stumbled on weightlifting. style="text-align: left;">"Usually in Pakistan girls are discouraged from sports, and often coaches push back," said Riaz, 25, who last year became a national champion and Pakistan's first female weightlifter to compete abroad. style="text-align: left;">"Now my family is happy with me doing weightlifting." style="text-align: left;">In a dimly lit Lahore gym, where paint peels off walls, windows are shattered and cobwebs cling to a damp ceiling, Riaz is tutoring 16-year-old Iqra Chanzaib, who is new to weightlifting. style="text-align: left;">Chanzaib wanted to play basketball, but the only hoop near her house was out in the open and full of boys, so one of her pious brothers protested. She then opted for weightlifting, indoors. style="text-align: left;">"There are plenty of girls like me but they cannot come because of family pressures. My own friends want to come but their families stop them," she said.
 Pakistan captain Misbah-ul-Haq became the oldest player to score a Test century for 82 years as he helped his side recover against England at Lord�s on Thursday.</strongMisbah was 110 not out in a Pakistan total of 282 for six at stumps on the first day of this four-match series.The 42-year-old came to the crease with Pakistan in trouble at 77 for three after he had won the toss.But together with Asad Shafiq (73), Misbah put on 148 for the fifth wicket. England all-rounder Chris Woakes, however, twice took two wickets in quick succession at both ends of the day.The Warwickshire paceman bowled nightwatchman Rahat Ali for a duck off what became Thursday�s last ball to finish with figures of four for 45 in 18 overs./><strong>Costly Ali</strong> But off-spinner Moeen Ali was expensive, his seven wicketless overs costing 46 runs.<br/>The 42-year-old Misbah�s achievement was all the more impressive as this was also his first Test at the �home of cricket�.Not since England�s Patsy Hendren made a century against Australia aged 45 at� Manchester�s Old Trafford ground back in 1934 had an older player scored a Test hundred.Remarkably, this was also Misbah�s first Test anywhere in England. It looked as if Misbah was about to celebrate his achievement by prostrating himself on the turf in prayer.But instead he performed a series of press-ups in what appeared to be a joke aimed at critics who questioned whether he is now too old for international cricket.The gesture also a wry reference to the pre-tour �army-style� training camp the squad were put through at the Pakistan Military Academy in the northwestern town of Kakul."A lot of things have been said about my technique and the outside edge, and the� celebration... I promised the guys," Misbah told Sky Sports."We had an Army camp and every time we had to get down and do 10 press-ups. "Those in my celebration can�t count because my arm was bent!"On a more serious note, and turning to the match situation, Misbah said: "We�re in a good position at the moment. We really want to score another 100 runs to give us a good chance.Misbah was dropped on 16 by Joe Root, who grassed a tough slip chance off fast bowler Steven Finn.And he would have been run out for 58 after a mix-up with Shafiq if Gary Ballance had hit the stumps.Misbah was severe on Ali, reverse and conventionally sweeping him for four fours in an over.<br/>Another reverse sweep off Ali took him to 99.A single to third man off Finn saw Misbah to his 10th century in 62 Tests off 154 balls with 17 boundaries.All the pre-match hype had concerned Pakistan paceman Mohammad Amir, making his return to Test cricket at Lord�s -- the scene of his 2010 spot-fixing crime.But Amir, who served a five-year ban, remained a spectator on Thursday. Pakistan�s openers got through the new ball ball before first-change Woakes removed them both with a burst of two wickets for five runs in 16 balls.Shan Masood was caught behind by Jonny Bairstow. Woakes and Bairstow combined again to have Mohammad Hafeez (40) caught off a skyer.Pakistan were 76 for two shortly after lunch when Azhar Ali was literally knocked off his feet by a yorker from Jake Ball, given a Test debut after the selectors decided against risking England�s all-time leading wicket-taker James Anderson following a shoulder injury.Ali reviewed and Nottinghamshire quick Ball had an anxious wait before a tight �umpire�s call� verdict gave him a first Test wicket."I really enjoyed my wicket," said Ball. "When he reviewed it, I was nervous because it looked like it was sliding down but to see it clipping leg stump was really nice."Younis Khan made an elegant 33 before he carelessly chipped Stuart Broad to Ali at square leg.But Shafiq offered excellent support with a 130-ball innings featuring 12 fours. He was out shortly before the close when, trying to withdraw the bat against Woakes with the new ball, he was caught behind.Woakes then made it two for none in 11 balls when he removed Ali to round off an intriguing first day.
 Pakistan�s Yasir Shah made a useful unbeaten 30 after starring with the ball to leave Pakistan well-placed come stumps on the third day of an intriguing first Test against England at Lord�s on Saturday.Pakistan were 214 for eight in their second innings at the close, a lead of 281 runs, after leg-spinner Shah took six for 72 in England�s first innings 272.But at stumps he was shaking hands with Chris Woakes after the Warwickshire all-rounder had taken five for 31 to follow the lively paceman�s Test-best haul of six for 70 in Pakistan�s first innings 339.Woakes�s 11-wicket haul was the first time he had grabbed at least 10 in a Test match.England now need to at least equal their record fourth-inning score to win a Test at Lord�s of 282 for three against New Zealand in 2004 if they are to go 1-0 up in this four-match series.Sarfraz Ahmed (45) and Shah, promoted from his first innings position of number 11, frustrated England in a seventh-wicket stand of 40.Both batsmen were dropped off the luckless Steven Finn as the fast bowler went wicketless on his home ground.Shah was on two when he chipped Finn out onto the offside and a diving Stuart Broad just failed to cling on to a tough low chance.But Ahmed should have been out for 36 when Finn took the outside only for wicket-keeper Jonny Bairstow, going to his right, to drop the chance as the ball hit his wrist.Fortunately for England, it was not too costly a miss with Woakes producing even simpler chances that Bairstow held to get rid of both the gritty Ahmed and Wahab Riaz (nought).But Finn knew it wasn�t his day when Shah, on one knee, hoisted him for four high over deep square leg.Pakistan were 40 for one at lunch after Mohammad Hafeez had carelessly fallen for a duck in cutting Broad straight to Joe Root at second slip.But they lost opener Shan Masood soon afterwards when the left-hander, once more fallible outside off stump, flat-footedly edged Woakes to England captain Alastair Cook at first slip.Azhar Ali (23) then fell lbw to a desperately tight umpire�s call as Woakes reduced Pakistan to 59 for three.Misbah, in his maiden Test knock at Lord�s, had made 114 in Pakistan�s first innings. But on Saturday he fell for nought when he lofted off-spinner Moeen Ali legside and Alex Hales, running round to the mid-wicket rope, held a good catch.Pakistan had never previously lost a Test when Misbah had made a hundred and never won one when he had made a duck but one of those records was now under threat.The unsettled Younis Khan played on to Ali for 25 two balls after driving him for four. Asad Shafiq struck a well-made 49 before,in sight of his second fifty of the match, he was bowled by a Woakes �trimmer�.Earlier, Shah produced the best innings bowling by a visiting spinner against England in a Test at Lord�s since Sid Pegler�s seven for 65 for South Africa back in 1912.Variations in pace and flight saw Shah repeatedly pose problems on an unresponsive pitch.Both sides knew that Shah was likely to be an even greater threat on a wearing fourth-day surface on Sunday.England resumed on their overnight 253 for seven, after Shah induced a middle-order collapse on Friday.They added just 19 more runs Saturday, with Woakes on 35 not out as he emphasised his all-round credentials.�
 Pakistan captain Misbah-ul-Haq followed his first-innings hundred with a duck as England fought back on the third day of the first Test at Lord�s on Saturday.At tea, Pakistan were 111 for four in their second innings -- a lead of 178 runs.A becalmed Younis Khan, who played several exaggerated leave shots, was 19 not out off 86 balls.But Asad Shafiq had kept the scoreboard ticking over with an unbeaten 29 off 46 balls including five boundaries.Saturday�s second session saw England all-rounder Chris Woakes follow his Test-best six for 70 in the first innings with two wickets.Pakistan were 40 for one at lunch after Mohammad Hafeez had carelessly fallen for a duck in cutting Stuart Broad straight to Joe Root at second slip.But they lost opener Shan Masood soon afterwards when the left-hander, once more fallible outside off stump, flat-footedly edged Warwickshire paceman Woakes to England captain Alastair Cook at first slip.Azhar Ali (23) then fell lbw to a desperately tight umpire�s call as Woakes reduced Pakistan to 59 for three.Misbah, in his maiden Test knock at Lord�s, had made 114 in Pakistan�s first innings.But on Saturday he fell for nought when he hoisted off-spinner Moeen Ali legside and Alex Hales, running round to the mid-wicket rope, held a good catch.Pakistan had never previously lost a Test when Misbah had made a hundred and never won one when he had made a duck.With conditions set fair on a sunny day at Lord�s and more than two days left in the match, something had to give.Younis, on 11, was given out lbw by umpire Joel Wilson after a prolonged and theatrical appeal from fast bowler Steven Finn on his Middlesex home ground. But a review showed the ball missing leg stump and Younis survived.Earlier, leg-spinner Yasir Shah took six wickets as England were bowled out for 272 -- 67 runs behind on first innings.Shah�s haul of six for 72 was the best return by a visiting spinner against England at Lord�s since Sid Pegler�s seven for 65 for South Africa back in 1912. <br/> Variations in pace and flight saw Shah repeatedly pose problems on an unresponsive pitch.If Pakistan�s batsmen could give him enough runs to play with in a second innings, Shah was likely to be an even greater threat on a wearing surface. 
 Pakistan�s Yasir Shah took six for 72 against England on Saturday to become just the fifth leg-spinner to take six wickets in a Test innings at Lord�s. Shah was the first leg-spinner to achieve the feat in 83 years.The complete list of leg-spinners who have taken six or more wickets in a Lord�s Test innings is as follows (haul, player, country, opposition, year):7-128 Bert Vogler, RSA v ENG, 19076-32 Walter Robins, ENG v WIS, 19336-35 Warwick Armstrong, AUS v ENG, 19096-72 Yasir Shah, PAK v ENG, 20166-167 Clarrie Grimmett, AUS v ENG, 1930Shah�s figures were also the second-best by any Pakistan bowler in a Lord�s Test, sandwiched between medium-pacer Mudassar Nazar and left-arm quick Mohammad Amir, a current team-mate of the leg-spinner. (haul, bowler, year):6-32 Mudassar Nazar, PAK v ENG, 19826-72 Yasir Shah, PAK v ENG, 20166-84 Mohammad Amir, PAK v ENG, 2010�
 Yasir Shah took the best innings figures by a visiting spinner against England in a Lord�s Test innings in more than a century as Pakistan strengthened their grip on the series opener.Pakistan were 40 for one in their second innings at lunch on Saturday�s third day of the first Test, a lead of 107 runs.Shan Masood, who spent part of his childhood living near Lord�s, was 20 not out and Azhar Ali 17 not out.Earlier, Shah took six for 72 as England were bowled out for 272 -- 67 runs behind Pakistan�s first innings 339.They were the best figures by an overseas spinner against England at Lord�s since Sid Pegler�s seven for 65 for South Africa back in 1912.Bounding into the crease, Shah�s feat was all the more impressive as his wickets came on a largely unresponsive pitch, with his variations in pace, as much as spin, deceiving the batsmen.England resumed on their overnight 253 for seven, after Shah induced a middle-order collapse on Friday following a second-wicket stand of 110 between skipper Alastair Cook (81) and Joe Root (48).They added just 19 more runs Saturday before they were all out.Wahab Riaz cleaned up Stuart Broad before Steven Finn went the way of several top-order batsmen in falling lbw to Shah.The innings ended when last man Jake Ball was run out by a distance in trying to keep Chris Woakes on strike.Woakes finished on 35 not out to add to his six for 70 in Pakistan�s first innings.England were then gifted a wicket when Mohammad Hafeez carelessly fell for a duck as he guided Broad straight to Root at second slip in the manner of a coach giving fielders catching practice.But Azhar Ali -- who off-drove debutant Ball for four -- and left-hander Masood, who clipped Broad to the mid-wicket boundary, consolidated Pakistan�s position.�
 England were bowled out for 272 in reply to Pakistan�s first innings 339, a deficit of 67 runs, on the third day of the first Test at Lord�s on Saturday.</strongPakistan leg-spinner Yasir Shah took six for 72 -- the best figures by an overseas spinner against England at Lord�s since Sid Pegler�s seven for 65 for South Africa in 1912.Shah�s return was also the second-best by any Pakistan bowler in a Lord�s Test innings after medium-pacer Mudassar Nazar�s six for 32 back in 1982.England all-rounder Chris Woakes was 35 not out.Alastair Cook, the England captain, top-scored with 81 and put on 110 for the second wicket with oe Root (48).But Yasir sparked a middle-order collapse when he dismissed Root as he became the first leg-spinner to take five wickets in a Lord�s Test innings since fellow Pakistani Mushtaq Ahmed in 1996.This is the first of a four-Test series.
 Lionel Messi is still the best player in the world despite never winning a major international trophy for Argentina, former Barcelona team mate and Brazil great Ronaldinho said on Sunday.</strongThe 29-year-old Messi, who retired from internationals last month after Argentina lost to Chile in the Copa America final, is his country�s top scorer with 55 goals.The five times World Player of the Year has played in three Copa America finals and the 2014 World Cup final, but lost them all.Cristiano Ronaldo, his frequent rival for FIFA's prestigious Ballon d�Or, recently won Euro 2016 with Portugal, to reignite the debate about which of the two is the world's best player.�For me, Messi leaving international football does not change anything," Ronaldinho told reporters on Sunday."He is still the best football player in the world. The respect I have for him doesn�t change at all..."And if he really has decided to leave international football then the sport will miss his presence, and so will the fans," added Ronaldinho, who plays in India�s Premier Futsal league.Ronaldinho, who played at Barcelona for five years from 2003, said he had nurtured Messi when the pair played together at the Nou Camp.He said the Argentine had followed in his footsteps by helping to guide Brazil forward Neymar at the Spanish champions.�I am not there to see. But I believe the attention and dedication I had for Messi, is the same thing Messi is doing for Neymar because it�s very important for a more experienced player to share things with younger players,� the 36-year-old Ronaldinho said.�And that I believe is one of the reasons that Neymar has adapted to the club and their style of play.�Ronaldinho has been without a club since a two-month spell at Brazilian side Fluminense last year and has not ruled out playing in the Indian Super League.�I am uncertain but I will go to a place where I feel very comfortable and will consider this possibility (the Indian Super League),� the 2005 Ballon d�Or winner said.
Professional Pakistani boxer Muhammad Waseem Khan on Sunday clinched the World Boxing Council (WBC) Silver Flyweight title in a tough fight against Philippines' Jether Oliva at the Millenium Hilton Hotel in Seoul.President Mamnoon Hussain, Chief Minister Balochistan Sanaullah Zehri, Punjab Chief Minister Shahbaz Sharif, and other leaders congratulated the boxer over his win. Balochistan Sports Minister Mir Mujeebur Rehman announced a Rs0.5 million prize for Muhammad Waseem after his�victory.Initially it was an ordinary fight but WBC last month turned it into a world silver title fight. The victory catapults the 28-year-old Pakistani boxer among the top four in the world.Muhammad Waseem, who hails from Quetta, prepared for the fight under famous trainer Jeff Mayweather at the boxing club of renowned boxer Floyd Mayweather Junior in Las Vegas. Jeff is the uncle of Floyd Mayweather Junior, one of the world�s greatest boxers of his time.Waseem comes across as one of the most capable and promising young boxers that Pakistan has produced in recent times.Before this match, Waseem had played only three fights and won them all.The Pakistani boxer, who switched over to pro boxing early last year, made a dream debut when he knocked out.Korea�s Min Wook Lee in the ninth round to win the Korean Boxing Commission (KBC) title on October 4, 2015.He knocked out Suparyanto Doglo of Indonesia in the third round in his second bout in Bangkok on December 5, 2015.His last triumph came against Indonesia�s Bajawa whom he knocked out in Seoul the other month.Waseem is a rare fighter as he began his pro career directly with a ten-round fight. He opted to do so because he had the confidence as he had won several international medals, including an Asian Games bronze, during his amateur career which was hurt by lack of resources and politics within the Pakistan Boxing Federation (PBF).
 Pakistan defeated England in the first test match on Sunday after Yasir Shah and Mohammad Amir sent home the bulk of the British batsmen to secure the victory for the country. </strongYasir Shah was once again the man who did the trick for Pakistan, when a low kept delivery rattled Bairstow's stumps. The latest dismissal meant that Yasir had claimed four wickets this innings while earlier he had claimed six English scalps in the previous innings of England. Mohammad Amir struck for Pakistan right in the next over, when he bowled Stuart Broad.Mohammad Amir finished with two wickets in the end and it was the Pakistani pacer who clean bowled JT Ball to clinch the victory for Pakistan.�It was Yasir Shah who had done�the damage earlier to�the English batting side as his two quick wickets after lunch helped put Pakistan in the driving seat. At first, Shah dismissed Ballance before moving on to bowling Moeen Ali out.�England were set a target of 283 to win the first Test after bowling out Pakistan for 215 in their second innings on the fourth day.�England were 90 for three in their second innings, needing a further 193 runs to reach their victory target of 283, at lunch. �James Vince was 41 not out and Gary Ballance 15 not out after Rahat Ali had removed all of England�s top three batsmen in a return of three for 36 in eight overs.<br/><br/>This is the first of a four-Test series.Pakistan, 214 for eight overnight, lost their last two wickets for just one run in 13 balls during Sunday�s opening 10 minutes.Stuart Broad struck twice in two balls with Yasir Shah, failing to add to his overnight Test-best 30 not out, and Mohammad Amir (one) both caught behind by wicket-keeper Jonny Bairstow.Pace-bowling all-rounder Chris Woakes led England off the field after taking five for 32 for a match haul of 11 for 112.England now needed to surpass their record fourth innings-winning chase in a Lord�s Test of 282 for three against New Zealand in 2004 if they were to go 1-0 up in this four-match series.
 England added premier pace bowler James Anderson, all-rounder Ben Stokes and leg-spinner Adil Rashid into an expanded 14-man squad announced Monday for Friday�s second Test against Pakistan at Old Trafford.The trio took no part in England�s 75-run defeat in the first of a four-match series at Lord�s on Sunday.But Anderson, England�s all-time leading Test wicket-taker, and Stokes have both been passed fit following their respective shoulder and knee injuries.Meanwhile Rashid, yet to play a home Test, could feature as a back-up or even an alternative to Moeen Ali after the off-break bowler came in for some harsh treatment by Pakistan�s batsmen at Lord�s.Anderson and Stokes helped prove their fitness by taking part in the ongoing County Championship match between Lancashire and Durham at Southport, near Liverpool.<br/> <br/> England squad: Alastair Cook (Essex, captain), Alex Hales (Nottinghamshire), Joe Root (Yorkshire), James Vince (Hampshire), Gary Ballance (Yorkshire), Jonny Bairstow (Yorkshire, wkt), Ben Stokes (Durham), Moeen Ali (Worcestershire), Chris Woakes (Warwickshire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Adil Rashid (Yorkshire), Steven Finn (Middlesex), Jake Ball (Nottinghamshire)
 Pakistan Cricket Board chairman Shaharyar Khan says his country�s stunning victory over England in the Lord�s Test has restored the team�s tarnished reputation.Yasir Shah was Pakistan�s hero as the leg spinner took 10 wickets in the match to help wrap up a 75-run win in the opening Test on Sunday.It was a cathartic triumph for Pakistan, who were playing their first Test at Lord�s since the infamous 2010 spot-fixing scandal.That fixture saw Pakistan left-arm quick Mohammad Amir, together with fellow paceman Mohammad Asif and then captain Salman Butt, given five-year bans and jail sentences for conspiring to deliberately bowl no-balls as part of a newspaper sting operation.Fittingly, Amir, in his first Test appearance since he was given the suspension, ended the match when he dismissed England�s Jake Ball and Khan was quick to pay tribute to the efforts of captain Misbah-ul-Haq and his players."The Lord�s win is important in many ways and the most significant is that the image of our cricket is restored in more than one way at the venue where it was dented six years ago," Khan said."The team played as a unit and Misbah led it in an exemplary manner while the new team management did a great job."The best part was the support from Pakistan fans. The whole country is rejoicing."�
 The Supreme Court has barred ministers and bureaucrats from holding posts in the country's cricket board (BCCI) as part of administrative reforms in the world's richest national cricket body.</strongThe Supreme Court on Monday accepted most of the recommendations of the Lodha Committee, a three-member panel it had appointed to look into the functioning of the BCCI which is perceived as a cash-rich but opaque body run by politicians and businessmen.In their report, submitted in January, former Chief Justice of India RM Lodha and two of his colleagues recommended age and tenure restrictions for top officials and cooling off period between successive terms for top officials among others."We allow most of the recommendations of the Justice Lodha panel on administrative changes in the BCCI," a two-judge division bench of the apex court, headed by Chief Justice of India Tirath Singh Thakur and Justice F.M.I. Kalifulla, said in their order."Nobody above the age of 70 will be office bearer of the BCCI. A person cannot be simultaneously an office-bearer in the state cricket association as well as in the BCCI."In other recommendations, all of which would have to implemented within six months by the BCCI, the panel wanted the board to be brought under the Right to Information Act which would allow citizens to access information held by the board.
strong>Manchester United manager Jose Mourinho has urged patience with new recruit Eric Bailly, saying that the defender will take time to adapt to the demands of England's top flight following his move from Spain.</strongBailly, Mourinho's first signing since he took over from Louis van Gaal, put on an impressive display for United as the visitors beat Wigan 2-0 in a friendly on Saturday.The 22-year-old was part of a Villarreal defence that conceded just 35 goals in 38 league matches last season."He's a very young boy coming from a completely different environment, but you could see what he is at this moment," Mourinho told British media."This was the first time he has worn a shirt like the Manchester United shirt. He can't speak English and can only communicate with the ones who are French-speakers or Spanish."I wanted to give him more minutes because he needs to play more than others. He needs to feel it and start communicating."The former Chelsea manager also likened the Ivory Coast international to defender Raphael Varane, whom he coached at Real Madrid."I will give him everything to try to make him better and better, like I did with other central defenders I've had in my hands," Mourinho added.
 Legspinner Yasir Shah, who took a 10-for at Lord's to lead Pakistan to a much awaited victory over England, has climbed up to the top of the ICC rankings for bowlers.</strongYasir Shah, who became the first Pakistani bowler in 20 years to top the International Cricket Council (ICC) test rankings,�is followed by Indian off-spinner Ravichandran Ashwin and the England pace duo James Anderson and Stuart Broad.Mushtaq Ahmed was the last bowler from Pakistan to top the rankings since in December 1996.Yasir has 86 wickets from 13 Tests and is within touching distance of breaking a 120-year old record - the fastest to 100 Test wickets. George Lohmann, the England fast bowler, had reached the mark in 16 Tests in 1896.Yasir had been ranked No. 4 before the start of the series, but a compelling display on a day two pitch offering no turn and remarkable exploitation of a wearing pitch and worried batsmen on day four pushed him up three places.His 6 for 72 in the first innings and 4 for 69 in the second made him the first legspinner ever to claim a 10-for at Lord's. Among his wickets was a vicious legbreak that pitched a considerable distance outside Gary Ballance's off stump, turned square and knocked the leg stump back, invoking memories of Shane Warner toppling Andrew Strauss in Edgbaston in the 2005 Ashes.
 Mohammad Amir returned to the hallowed ground of Lord's he defiled six years ago to earn Pakistan one of their most memorable test triumphs over England on Sunday.</strongThe fast bowler, who served a five-year ban and jail time after admitting spot-fixing at the home of cricket in 2010, took the final wicket of the first test to give Pakistan a well-deserved 75-run victory.While Amir's return to the game divides opinion, it felt like partial redemption for the 24-year-old who was cleared to return to the sport last September and who was making his first test appearance since his ban ended.Amir removed the key wicket of captain Alastair Cook in the first innings, and then finished off England's resistance on Sunday as he destroyed Jake Ball's stumps to spark joyous scenes from the Pakistan fans."He's part of the team that has won the test match, it will be one of the memorable days of his life and from here he can start his career again," Pakistan captain Misbah-ul-Haq said."He's a good kid now, he's a mature cricketer and he can prove to everyone that he's a good bowler."Amir was touted as a potential great when he burst onto the international stage as a teenager, making his test debut at 17.But his world fell apart when he admitted to deliberately bowling no-balls against England and was convicted along with Salman Butt and Mohammad Asif who received seven and 10 year bans respectively.The conspiracy rocked world cricket and reputation of Pakistan cricket was tarnished, but Misbah said the victory at Lord's on Sunday completed a long journey back from the depths for a nation mad about the sport."It's been a remarkable turnaround after the 2010 incident," Misbah said."The team took real responsibility and these players showed a lot of respect for the game, fought throughout the six years and brought plenty of wins. Their on and off-the-field disciplines are really good."Winning against a top side, who are really good in their home conditions, speaks volumes for this team."
 The Saudi Olympic Committee has approved four female Saudi athletes to compete as part of the conservative Gulf kingdom's team at the Rio Olympics, a spokesman said on Sunday.</strongSara Al-Attar, Lubna Al-Omair, Cariman Abu Al-Jadail and Wujud Fahmi will become only the second group of women Olympians to represent Saudi Arabia, where women are barred from driving and are subject to a restrictive male guardianship system.But the historic decision was complicated by the kingdom's thorny gender politics, as the official announcement of the Olympic team named only the seven men who will compete.The announcements of the names of the male and female team members were made separately given the sensitivities regarding gender segregation and women's athletics in Saudi Arabia, said Saudi Olympic Committee Chief Executive Hosam Alqurashi.The four women will be given wildcard entries so they can compete without meeting formal qualification standards, a spokesman said.Saudia Arabia entered two women under a similar arrangement for the 2012 Olympics in London in what was a symbolic first for the oil-rich Islamic nation.Attar is a veteran of the London games, where she ran in the 800 metres. She will be joined in Rio by another runner, Abu Al-Jadail, who will run in the 100 metres. Omair will participate in fencing, while Fahmi will be in the under-52 kg judo event.Women in Saudi Arabia face significant hurdles to practice sport. They must wear head-to-toe garments in public, observe strict rules on gender segregation and obtain permission from a male guardian to travel, study or marry.Women's gyms are not currently eligible for licences, making them scarce in the kingdom. Saudi Arabia's recently announced package of economic reforms set out the licensing of women's "sports halls" as a goal to be achieved by 2020.
� Yasir Shah took 10 wickets in a Test for the first time in his career as the leg-spinner bowled Pakistan to a 75-run win over England at Lord�s on Sunday.</strongThe 30-year-old Shah, who earlier this year served a three-month drugs ban after saying he had taken his wife�s blood pressure medication instead of his own, now has a brilliant Test record.In just 13 matches, he has taken 86 wickets at an average of just 23 apiece.His second-innings haul of four for 69 gave man-of-the-match Shah an overall return for this Test of 10 for 141.That made him the first spinner to take 10 wickets in a Lord�s Test since England�s Derek Underwood in 1974 and just the sixth in all.Below is the select group Shah has now joined.Spinners taking 10 wickets in a Test at Lord�s (player, country, overs, wickets, runs, opposition, year):Johnny Briggs (ENG) 11-74 v AUS 1886Hedley Verity (ENG) 15-104 v AUS 1934Sonny Ramadhin (WIS) 11-152 v ENG 1950Roy Tattersall (ENG) 12-101 v RSA 1951Derek Underwood (ENG) 11-70 v NZL 1969Derek Underwood (ENG) 13-71 v PAK 1974Yasir Shah (PAK) 10-141 v ENG 2016
 Pakistan captain Misbah-ul-Haq said Mohammad Amir could start a "new life" after he completed his return to he scene of his spot-fixing shame by rounding off victory over England in the first Test at Lord�s on Sunday.The corresponding Test match between England and Pakistan at Lord�s in 2010 saw teenage sensation Amir take a superb six for 84 to secure a coveted place on the dressing room honours board.But that feat was utterly overshadowed when it was revealed the 18-year-old had deliberately bowled no-balls as part of a newspaper �sting� operation.Together with new-ball partner Mohammad Asif and then captain Salman Butt, Amir was given a five-year ban from cricket and a jail sentence.Amir, who served three months in an English young offenders institute, returned to international cricket earlier this year.But this was his first Test appearance since 2010 and the now 24-year-old wrapped up just Pakistan�s fourth win in 14 Tests at Lord�s when he bowled last man Jake Ball to secure a 75-run victory with more than a day to spare."That was a special moment for him," said Misbah, who in his first Test appearance at Lord�s had earlier made a superb century"That could be the start of a new life," he added."And I think, I hope he�ll perform like that, and proves to everybody (that he can) just be really a good man, a good cricketer and good human being now."Misbah added: "He�s so lucky he got another chance, now it�s a new life for him."And the veteran skipper predicted the left-arm quick would only get better in the rest of the four-Test series after overcoming the emotional hurdle of his Lord�s return."He will definitely get better because sometimes there is some sort of mental block, because that had happened here, especially at this venue."So that obviously comes into your mind."Now it�s over he can really be more effective in the Pakistan team," insisted Misbah ahead of the second Test at Manchester�s Old Trafford, which starts on Friday.
 Pakistan celebrated their victory over England in the first Test at Lord�s on Sunday by performing a series of press-ups although defeated skipper Alistair Cook admitted it wasn�t pleasant viewing.</strongMisbah-ul-Haq�s side went on an army boot camp before the tour to improve their infamously poor fitness, and senior batsman Younis Khan led the squad in performing a routine of press-ups followed by a military-style salute in front of the ground�s famous Pavilion.Misbah, 42, had celebrated in similar fashion on the opening day on Thursday after reaching a hundred that helped set up his team�s 75-run win."The team was really hoping that we get a chance, because I got a chance after scoring a hundred," said Misbah, the oldest man to score a Test hundred in 82 years, of his press-up celebration."I did that and everybody wanted to do that. That sends a small tribute to all those army men who were working really hard (with us)."England captain Alastair Cook, asked for his views on Pakistan�s unusual post-match display, said: "You don�t take any offence, but certainly at that emotive time it�s not pleasant viewing."Certainly when you�ve lost a game of cricket for the first 20 minutes or so it�s not pleasant.""They (Pakistan) are entitled to do what they want. It�s united them and shows what a challenge we�ve got."But Cook, speaking ahead of next week�s second Test in Manchester. "Hopefully the cricketing gods might (turn in our favour at Old Trafford)."
 South African Steve Elworthy will head up the organisation of the 2019 Cricket World Cup being hosted in England and Wales after the former international cricketer was appointed managing director on Tuesday.The 51-year-old -- who made 39 appearances for The Proteas in one day internationals and played in four Tests after being capped at the ripe old age of 32 -- has accrued vast experience in the organisation of major tournaments.He was tournament director of the 2007 and 2009 World Twenty20 competitions and the 2013 Champions Trophy held in England and Wales -- a competition he is also in charge of organising for the same hosts for next year.England and Wales Cricket Board (ECB) chief executive officer Tom Harrison said Elworthy was the perfect man for the job based on his previous handling of tournaments."He has an outstanding track record of delivering fan-friendly tournaments which have been widely admired not just in cricket, but across the wider sports industry," said Harrison."Our congratulations to Steve on his appointment and we will be offering him and his team all the support they need to deliver successful tournaments in both 2017 and 2019."Elworthy, who played county cricket in an unhappy spell for Lancashire in 1996 and was dropped on the morning of their appearance in a one day final, said he was looking forward to the biggest challenge of his career which sees it set to get underway in May 2019."Since I retired from professional cricket in 2003, I have been given some fantastic opportunities in cricket administration and managing the ICC Cricket World Cup 2019 is the biggest and the best yet," said Elworthy.�
 With the Rio Olympics less than three weeks away, the IOC on Monday promised "the toughest sanctions available" after a report found Moscow had concealed hundreds of positive doping tests in many sports ahead of the Sochi winter Games.</strongThe International Olympic Committee (IOC) did not spell out whether it would heed growing calls for Olympic bans already imposed on Russia's track and field athletes and weightlifters to be extended to all its competitors in Rio.However, IOC President Thomas Bach said the independent World Anti-Doping Agency (WADA) investigation had revealed "a shocking and unprecedented attack on the integrity of sport and on the Olympic Games.The IOC Executive Board is to hold a telephone conference on Tuesday to take its first decisions, which may include provisional measures and sanctions with regard to the Rio Olympics."Therefore, the IOC will not hesitate to take the toughest sanctions available against any individual or organisation implicated."WADA itself explicitly urged the IOC to consider banning Russia from the Rio Olympics altogether.Russian President Vladimir Putin, who staked his reputation on the Sochi Games, the costliest in history, said the WADA-backed report was the result of political interference and that the Olympic movement could now split.The report confirmed allegations made by Grigory Rodchenkov, former head of the Moscow Anti-Doping Laboratory.He told the New York Times two months ago that dozens of Russians had used performance-enhancing drugs in Sochi with the support not only of national sports authorities but even the domestic intelligence service, the FSB.Monday's report said Russia, a traditional sporting superpower, had been stung into action by its performance at the 2010 Vancouver Winter Olympics, where it finished 11th, with only three gold medals."The surprise result of the Sochi investigation was the revelation of the extent of State oversight and directed control of the Moscow Laboratory in processing and covering up urine samples of Russian athletes from virtually all sports before and after the Sochi Games," said the report, unveiled in Toronto.strong>"FAILSAFE STRATEGY"</strongThe investigation was led by Canadian sports lawyer Richard McLaren, who sat on the independent commission that last year exposed doping and corruption in Russian track and field, leading to its exclusion from international competition.The report said Deputy Sports Minister Yuri Nagornykh had been advised of every positive test across all sports from 2011 onwards and decided "who would benefit from a cover up and who would not be protected."The State implemented a simple failsafe strategy," it said. "If all the operational precautions to promote and permit doping by Russian athletes proved to have been ineffective for whatever reason, the laboratory provided a failsafe mechanism."The State had the ability to transform a positive analytical result into a negative one by ordering that the analytical process of the Moscow Laboratory be altered."Among the hundreds of samples that disappeared were 35 from Paralympic athletes.In Sochi itself, where international observers were scrutinizing the drug tests, positive results could not simply be brushed away, so the FSB developed a method of opening urine bottles to allow samples to be swapped undetected.Rodchenkov spoke of a clandestine night-time operation in which staff secretly took samples from the lab via a "mouse hole" cut into a wall, and replaced them with clean samples taken from the same athlete months earlier and sometimes manipulated.strong>"CREDIBLE WITNESSES"</strongMcLaren said Rodchenkov and all other witnesses interviewed had been deemed credible, and the report said the investigators "confirm the general veracity of the published information concerning the sample swapping that went on at the Sochi Laboratory during the Sochi Games".The investigations showed that caps had been removed from a number of samples, and that they contained unusually high levels of salt, "significantly exceeding the levels produced by the human body".Nagornykh and Sports Minister Vitaly Mutko, who was mentioned 21 times in McLaren's 97-page report, were not immediately available for comment.Putin said in a statement that there was "no place for doping in sport", and that the officials named in the report would be suspended.Following the statement, Russian Prime Minister Dmitry Medvedev suspended Deputy Sports Minister Nagornykh.Putin also said the allegations were based on the testimony of only one man, and were an attempt to "make sport an instrument of geopolitical pressure, to form a negative image of countries and peoples".Harking back to the tit-for-tat superpower boycotts of the 1980s, he said: "The Olympic movement ... may again be on the verge of a split."In a leaked draft letter intended to be sent to the IOC on Monday, U.S. Anti-Doping Agency (USADA) CEO Travis Tygart called for a ban on all Russian athletes, not only in track and field.Paul Melia, head of the Canadian Centre for Ethics in Sports, said the letter was backed by various athletes' committees and the anti-doping organisations of the United States, Germany, Japan and New Zealand, among others.However, Russian track and field athletes have appealed against their ban to the Court of Arbitration for Sport, which is due to rule by Thursday.If it finds in their favour, there would seem to be little chance of a wider ban on Russian competitors holding up.Bach had indicated last week that he was reluctant to see athletes from one sport punished for the crimes of athletes or officials from another.
 England are seeking more regular help for their spinners after recruiting former Pakistan bowler Saqlain Mushtaq for the Old Trafford Test which starts on Friday.Saqlain linked up with England for practice in Manchester today and will work with spinners Moeen Ali and Adil Rashid, as well as advising batsmen how to play Pakistan leg-spinner Yasir Shah.England have not had a permanent spin coach since Mushtaq Ahmed returned to Pakistan at the start of 2014 and they are keen to address the situation. It is thought a coach will join the squad for the winter tours of India and Bangladesh, where spin will be prominent.�Saqlain is one of the contenders for the role while Daniel Vettori, the former New Zealand left-arm spinner, recently spent time with the England Performance Programme at a training camp in Dubai. Robert Croft, who played 21 Tests, was recruited for a part of last winter�s tour of South Africa.�Mushtaq Ahmed worked closely with Graeme Swann during his time with England, helping Swann become one of the world�s best spinners. England know Moeen needs mentoring, especially as he has struggled to make an impression with the ball since England regained the Ashes last summer.Rashid has played only three Tests, against Pakistan in the United Arab Emirates last autumn, but is back in the squad for Old Trafford as England look to square the Investec Series, which Pakistan lead 1-0. Former England pace bowler Andrew Caddick will spend a day with the team before the Third Test at Edgbaston, which starts on August 3.Caddick has been invited for the training session on August 1, in which he will observe the session and work alongside England�s fast bowlers.�Caddick took 234 wickets in 62 Tests and was part of an effective new-ball combination with Darren Gough under the captaincy of Nasser Hussain. Meanwhile, England head selector James Whitaker is ready to clarify the role of his panel next week when he names the squad for the Third Test. Whitaker and fellow selectors Angus Fraser and Mick Newell were criticised for leaving Jimmy Anderson out for the First Test at Lord�s, even though the paceman had declared himself fit to play.
 Hockey star Mohammed Shahid, who saw India to a gold medal at the Olympic Games in 1980, died Wednesday, his family said.The 56-year-old, who had been battling a severe liver ailment and kidney disease, died in a hospital on the outskirts of New Delhi after being admitted there last month.The former captain was rated as one of the best dribblers on the hockey field, and formed a formidable forward line with striking partner Zafar Iqbal.But the sportsman led a low-key life after his retirement as he retreated to the north Indian city of Varanasi -- his birthplace -- while working for Indian Railways.Shahid, who played in three Olympics -- 1980, 1984 and 1988 -- saw the national side take its first gold medal in the sport since 1964.Tributes poured in on social media, including from Prime Minister Narendra Modi."In the untimely &amp; unfortunate demise of Mohammed Shahid, India has lost a talented sportsman who played with immense passion &amp; vigour," Modi wrote on Twitter."We tried our level best to save Mohammed Shahid but sadly, neither our help nor prayers were enough to save him. Tributes to him. RIP," he added./> Indian cricket star Sachin Tendulkar also offered condolences.<br/> "A legend leaves us. Watching Mohammed Shahid�s magic with the hockey stick was memorable. May his soul rest in peace," Tendulkar tweeted.�
 England all-rounder Ben Stokes hailed Pakistan�s Yasir Shah on Wednesday as the best leg-spinner since Australia great Shane Warne.</strongShah bowled Pakistan to a 75-run win over England in the first Test at Lord�s last week with a brilliant match-haul of 10 for 141.His return left Shah atop the International Cricket Council (ICC) Test bowler rankings and was all the more impressive as the pitch at Lord�s did not offer excessive turn.That left Shah with 86 wickets in a mere 13 Tests at an average of 23, compared to Warne�s mammoth 708 in 145 Tests at just over 25 apiece in a career that ended in 2007.Conditions could favour Shah far more at Old Trafford, where the second Test starts on Friday.Stokes, who will hope to make his return to Test cricket at the Manchester ground after a knee injury, was in no doubt of Shah�s quality."Yasir Shah, I reckon, is the best leg-spinner since Shane Warne," Stokes told an Old Trafford press conference broadcast on Sky Sports."They are a very good team but we go into the Test match knowing how he goes about bowling and we should be able to counteract that," the Durham all-rounder added."(The conditions are) another thing we will have to try and adapt to and we�ll just see how it goes."Stokes has not played for England since injuring his knee in the first Test against Sri Lanka in May.He returned to action as a batsman only with Durham before, after being deemed not fully fit for the Pakistan opener, bowling for his county against Lancashire last week.Having not shown any adverse effects following his bowling stint, the 25-year-old Stokes is eager to resume his England career."It�s the first game where I have played doing both parts of my game," he explained."I have been playing as a batsman for two weeks, it is something I definitely did need, to get myself back into match situations."I have been bowling in the nets but you can�t replicate doing that, the only thing you can do is bowl in a game. So it was good on that point and it was a massive confidence boost."It seems a lot longer than it has been. I thought I was going to be back earlier than I was, purely because of how good the rehab was in the first few weeks. I am here now and I�m back fully fit."England are 1-0 down in the four-match series and Stokes is in line for a recall to bolster the home side�s batting as much as for his lively pace bowling."Losing is something that we can�t afford to do but we have have been playing some good Test cricket over the last two years," he said."It�s one defeat, we are not taking it to heart, we�re just treating it as a three-match series and hoping we can win it."
 Spaniards Munir El Haddadi and Sergi Samper have signed new three-year contracts with La Liga champions Barcelona.</strongThe 20-year-old forward Munir completed his second season with the first team in 2015-16, scoring eight goals in 26 games in all competitions.A statement from Barcelona read: "FC Barcelona and Munir El Haddadi have reached an agreement to renew the player's contract for the next three seasons, until June 30, 2019."His buyout clause has been set at 60 million euros ($65.93 million)."Munir, who joined Barcelona's youth academy in 2011, said on the club's official website: "I will have fun, learn and give my best."I've been working hard, learning from everyone and all that effort has its reward."Samper, a Barcelona-born midfielder, has been promoted to the first team and his buyout clause has been set at 50 million euros."FC Barcelona and Sergi Samper have reached an agreement to renew the player's contract until June 30, 2019, with an option to extend the deal for another year," a Barcelona statement said.The 21-year-old Samper is the first person to have reached the first team after playing in every Barcelona youth side since his arrival at the age of six.Samper captained Barcelona's B side last season and made his first team debut in the 2014-15 campaign. He has made 11 appearances for the first team.
strong>England Test team captain Alastair Cook has promised to use�Pakistan's 'army style' celebration after their victory at Lord's and come back strong in the second Test match.�</strong"It�s never nice to lose at Lord�s and see the opposition like they were at the end,� he said. �We�ll use that as motivation," he added.�The English captain was also not generous when it came to acknowledging the bowling prowess of Pakistani leg-spinner Yasir Shah and instead, referred to his batsmen as 'naive' for throwing away their wickets.�"We had a few poor shot selections to certain types of balls. We played some na�ve shots at times to certain angles. You could see what Pakistan were tying to do and we fell into the trap.�We�re striving to become the best side we can be, but na�ve is the word. To allow Yasir to get six wickets when the ball wasn�t turning was frustrating," he said.�However, Cook was hopeful of his team bouncing back in the remaining three Test matches of the series.�"It�s disappointing, but the beauty of a four-Test series is there are three more chances to put it right. We�ve been beaten before and come back strong," he said.�After Pakistan beat England at the first Test match at Lord's, the whole team dropped down and performed five press ups as an acknowledgement to the army trainers who had helped them get fit for the English tour.�English cricketer Tim Bresnan also warned the Pakistani team of being overconfident in a tweet message.� dir="ltr" lang="en">�Pakistan and England clash again on Friday at Old Trafford.�
 �India�s test ranking has long been based on their formidable home form but the side aim to impress new coach Anil Kumble by showing they can adapt to conditions outside the subcontinent in a four-test against West Indies starting in Antigua on Thursday.</strongFor the hosts, however, the task is more straightforward -- simply proving they can still be competitive in the long form of the game.Since last touring West Indies in 2011, when they ground out a 1-0 test series victory (with two draws), India have lost six consecutive series outside of Asia - two each in England and Australia and one each in South Africa and New Zealand.Their record in that time is one win, 15 defeats and five draws.That does not include a 2-1 series victory in nearby Sri Lanka last year, where conditions are typically similar to those encountered at home.Former leg-spinner Kumble was recently appointed head coach of the Indians, who are second behind Australia in the test rankings, after pitching a plan to fix that miserable away record.And while he has already moved to tighten discipline, introducing a fine of $50 for being late, he shies away from being branded a strict disciplinarian."All I know I am a cricket coach and whether I am strict or lenient, you will probably have to ask the team," he said recently.Kumble could hardly ask for a better chance to start the job on a winning note than against a West Indies team weakened by administrative conflict and the unavailability of several key players, with fast bowler Jerome Taylor the latest to retire from the test format.While West Indies excel in the Twenty20 format, they are eighth of nine nations in the test rankings, ahead only of minnows Bangladesh.Kumble has stressed his team must demonstrate patience throughout the series, a sentiment shared by West Indies all-rounder Carlos Brathwaite."We expect to face a lot of spin against the Indians in this series, so it is about playing the waiting game," said Brathwaite, who blasted four sixes in a row against England to seal West Indies� World Twenty20 triumph in April."We need to look to spend long periods at the crease so we are preaching that in the dressing room."After the first test in Antigua, the remaining tests will be played in Jamaica (July 30- Aug. 3), St Lucia (Aug. 9-13) and Trinidad (Aug. 18-22).strong>SQUADS:</strongstrong>West Indies:</strong> Jason Holder (captain), Kraigg Brathwaite, Devendra Bishoo, Jermaine Blackwood, Carlos Brathwaite, Darren Bravo, Rajendra Chandrika, Roston Chase, Miguel Cummins, Shane Dowrich, Shannon Gabriel, Leon Johnson, Marlon SamuelsIndia.strong>India:</strong> Virat Kohli (captain), Ajinkya Rahane, Ravichandran Ashwin, Stuart Binny, Shikhar Dhawan, Ravindra Jadeja, Bhuvneshwar Kumar, Amit Mishra, Mohammed Shami, Cheteshwar Pujara, Lokesh Rahul, Wriddhiman Saha, Rohit Sharma, Shardul Thakur, Murali Vijay, Umesh Yadav, Ishant Sharma.
 Former champions Roger Federer and Rafa Nadal have pulled out of the Rogers Cup in Toronto, leaving the tournament without three of the world's top four players, Tennis Canada said on Tuesday.</strongThe decision by Swiss world number three Federer and Spanish world number four Nadal comes a day after Wimbledon winner Andy Murray, ranked second, said he would not defend his Rogers Cup title so he can rest before defending his Olympic singles crown in Rio.Federer, a 17-times grand slam champion who won the Canadian stop in 2004 and 2006, said he needed more time off after his bid for a record-extending 18th grand slam title ended in the Wimbledon semi-finals earlier this month."Looking ahead, it is best for me that I take more time after Wimbledon," the 34-year-old Federer, who will seek his third Olympic medal at next month's Rio Games, said in a statement. "I look forward to coming back to Canada next year."Nadal, who has been out of action since pulling out of the French Open following his second-round match with a wrist injury, said he was not fit enough to return to competition.The 30-year-old Spaniard, a three-times winner of the Rogers Cup tournament that alternates each year between Toronto and Montreal, was only recently given clearance to compete in Rio despite not fulfilling the qualification criteria."I only started practicing a week ago after my wrist injury and I am not ready to play such an important event," said Nadal.The Rogers Cup, where world number one Novak Djokovic is top seed, will run from July 23-31 and the tennis competition at the Rio Olympics will be held Aug. 6-14.
 Coach Trevor Bayliss hinted England might field two spinners in the second test against Pakistan as the hosts chase a series-levelling victory at old Trafford.</strongLeg-spinner Adil Rashid, along with fit-again all-rounder Ben Stokes and pacer James Anderson, was called into England's 14-man squad following their 75-run defeat in the first test at Lord's."I've always thought of playing two spinners (at home), at some stage. Pakistan have three left-arm pace bowlers, who created rough outside the off stump for (off-spinner) Moeen (Ali)," Bayliss told British media."So looking ahead, if we did happen to have two spinners, they could both play an important part for us."The hosts struggled against Yasir Shah's leg-spin at Lord's and will need to do better when the second test begins on Friday.For them, James Vince scored 42 in the second innings but could not convert it into something big.Vince averages 18-plus after four tests but Bayliss seemed to have faith in the 25-year-old."I think it would be an injustice if he does not make it, but in the end it will be the number of runs that determine his longevity in the team," Bayliss said."If you ask anyone who has been in that situation they will say it is difficult to go out and play your natural game. You get caught between trying to do that, and going half after the ball and sometimes nicking off. He has some work to do."
 Brazil's intelligence agency said on Tuesday it was investigating all threats to next month's Rio Olympics after a presumed Brazilian Islamist group pledged allegiance to Islamic State (IS) less than three weeks before the Games.</strongThe SITE Intelligence Group that monitors the internet reported that a group calling itself "Ansar al-Khilafah Brazil" said on the Telegram messaging app on Sunday that it followed IS leader Abu Bakr al-Baghdadi and had promoted IS propaganda in Arabic, English and Portuguese.Brazilian authorities stepped up security measures following the truck massacre in Nice last week, planning security cordons, further roadblocks and the frisking of visitors in Rio de Janeiro for the Olympics.Police and soldiers took part over the weekend in drills near sports facilities and along transport routes.The Games start on Aug. 5 and are expected to attract as many as 500,000 foreign visitors."All threats related to the Rio 2016 Games are being meticulously investigated, particularly those related to terrorism," the Brazilian intelligence agency ABIN said in a statement when asked to comment on the previously unknown group's claim of support for Islamic State."Many are dismissed and those that deserve attention are investigated exhaustively," ABIN said. An agency spokeswoman declined to comment on whether the posting by the group presented a credible threat.ABIN last month confirmed it had detected a Portuguese account on the Telegram app that was a channel for exchanging information on Islamic State but authorities said no threat had been detected of an attack in Brazil.Since Thursday's attack in Nice where a truck ploughed through crowds during Bastille Day celebrations, Brazil has sought to reassure the international community that the Games will be safe and terrorist threats are being taken seriously.On Monday, interim President Michel Temer issued a video message inviting foreigners to come to Rio and enjoy the Games and the beauty of the host city."We have reinforced security very much in the city and you can come without worries. You can enjoy the marvels of Rio de Janeiro and attend the Games," he said in the brief video.Brazilian security officials say they are in close contact with partner countries about any possible threats to the Games and have been monitoring chatrooms and other communications among suspected sympathizers of radical groups.They said their biggest concern during the Olympics is not the threat of a coordinated attack by known militants but the possibility that a lone actor or group sympathetic to militant causes could seek to target the event.Brazil will deploy about 85,000 soldiers, police and other security personnel, more than twice the size of the security deployment during the London Olympics in 2012.
 Zimbabwe have appointed Graeme Cremer as captain of a 16-man squad named on Thursday for the two-test series against New Zealand starting next week.</strongThe 29-year-old spinner replaces Brendan Taylor in the role for Zimbabwe's first test since they lost three matches in Bangladesh in late 2014.Four uncapped players - Chamu Chibhabha, Prince Masvaure, Peter Moor and Taurai Muzarabani - were selected in the squad for the matches in Bulawayo.The first test begins next Thursday and the second on Aug. 6. It will be the first test at the Queens Sports Club in almost five years since New Zealand won a one-off match there by 34 runs in November 2011.New Zealand play Zimbabwe A in a three-day practice match at the Harare Sports Club on Friday before flying to Bulawayo.SquadGraeme Cremer (captain), Sikandar Raza Butt, Regis Chakabva, Brian Chari, Tendai Chatara, Chamunorwa Chibhabha, Craig Ervine, Hamilton Masakadza, Prince Masvaure, Peter Moor, Richmond Mutumbami, Taurai Muzarabani, Njabulo Ncube, Donald Tiripano, Sean Williams.
 England captain Alastair Cook announced Thursday that the hosts had reduced their squad for the second Test against Pakistan from 14 to 12 after dropping Steven Finn and Jake Ball.</strongThe fast bowlers, who both played in England�s 75-run defeat by Pakistan in the first Test at Lord�s, were released ahead of the second Test, which starts at Old Trafford on Friday.Now fit-again fast bowler James Anderson (shoulder) and all-rounder Ben Stokes (knee), who both didn�t play at Lord�s, are set to make their Test return in Manchester.England�s decision means they could give a home debut to leg-spinner Adil Rashid, all of whose three Test appearances to date were away to Pakistan in the United Arab Emirates last year.Revised England squad:Alastair Cook (capt), Alex Hales, Joe Root, James Vince, Gary Ballance, Jonny Bairstow (wkt), Ben Stokes, Moeen Ali, Chris Woakes, Adil Rashid, Stuart Broad, James Anderson
 Former Australia cricketer and bowling coach Craig McDermott has heaped praise on Mitchell Starc ahead of a Test series in Sri Lanka, predicting the pacer will easily cross the 300-wicket mark.</strongStarc has bagged 91 wickets from 25 Tests so far in his international career, and Australian coach Darren Lehmann is among those who have already said the 26-year-old can eventually reach the milestone."I think that�s underselling him," McDermott told AFP this week in New Delhi where he is promoting his sports academy."I think Mitchell can certainly sail past the 300-wicket mark and can get many more.""And I would love to be there to shake his hand when he passes 300 because it�s a hell of a milestone for any bowler," said McDermott, who recently quit as Australia�s bowling coach.The lanky pacer, who missed the second half of Australia�s Test summer and the World Twenty20 in India with an ankle injury, will be looking to get his rhythm back in the first Test in Pallekele starting on July 26.Starc made an impressive one-day comeback in the recent West Indies tri-series, with eight wickets in five games, helping Australia to clinch the title.The New South Welshman is just two shy of 100 one-day international scalps from 51 matches, with an impressive average of 19.79 and an economy rate of 4.82."I think he is getting one-day wickets for fun. Certainly his Test bowling is improving every time he takes the field for Australia," said McDermott, who himself just fell short of the 300 milestone, claiming 291 Test wickets during his 12-year career for Australia.
 Top seed Venus Williams fended off a spirited challenge in her opening match against world No. 87 Magda Linette at the WTA Tour�s Stanford tournament Wednesday as she needed three sets to advance.</strongFormer two-time champion Williams defeated Linette 6-3, 6-7 (6/8), 6-2 to reach the quarter-finals of the hardcourt tournament at Stanford University.The 36-year-old Williams is hoping she doesn�t suffer a post-Wimbledon letdown and she now has an easy path to the semi-finals since her next opponent won�t be ranked in the top 200 in the world.Williams will face either Catherine Bellis, who is ranked 203rd, or Sachia Vickery who is one spot back of Bellis in the world rankings."It would be very special to get No. 50 here but I am just going to try to keep advancing," said Williams who has 49 career titles after winning in Kaohsiung, Taiwan earlier this year.Williams blasted 11 aces and had four double faults against Linette in the two hour, 14 minute match on the main stadium.Earlier this month Williams reached the semi-finals of Wimbledon, her first semi at a major in five years.Williams played her first professional tennis match at this event in 1994 and she has won here twice but not since beating Kim Clijsters 14 years ago.The former world number one has seen her game fall on hard times over the past several years.And she got off to a rocky start to this season before recovering, losing in the first round of the Australian Open to the 47th ranked Johanna Konta. To add insult to injury, organizers fined her a record $5,000 for refusing to attend the post match news conference. She also suffered losses in opening second round matches at both Miami and Indian Wells.Linette, who is ranked second in Poland behind Agnieszka Radwanska, had to be pleased to take the world number seven to three sets in her Stanford debut.In 2015 she made her Grand Slam debuts at the French Open, US Open and Wimbledon.strong>- No mercy for partner -</strongIn other matches, fifth seeded Misaki Doi showed no mercy against her Japanese doubles partner Nao Hibino, winning in straight sets 6-3, 6-4 in their second round match.Doi, who is ranked 36th in the world, advances to the next round where she will face either second seed Dominika Cibulkova or Urszula Radwanska of Poland.Doi is hoping that a good run through the rest of the summer will help her earn a seeding spot for the upcoming US Open.Doi defeated Karolina Pliskova in Wimbledon�s second round, forced Sam Stosur to play three sets in a first round loss at the French Open, and gave Angelique Kerber a scare at the Australian Open earlier this year, taking the eventual champion to match point in the early rounds.British No. 1 Konta took care of business, beating Julia Boserup 6-3, 6-1 in just over an hour.Her Stanford debut continues in the quarter-finals where she will face China�s Zheng Saisai, who upset seventh seeded Frenchwoman Alize Cornet 6-4, 6-1.
 Virat Kohli continued his efficient and energetic accumulation of runs to bring up his maiden first-class double hundred, but his dismissal in the first over after lunch brought West Indies some relief as 108 came off 35 overs in the second session.Promoted to No. 6, R Ashwin enjoyed some luck in the first hour of the day before strolling to his third hundred against West Indies, taking his average against them to 76.2.Kohli's intent - helped no doubt by a flat pitch and tiring bowlers - foiled West Indies' plan pretty much from ball one: bowl defensively and ensure your stacked-up batting line-up has less time to survive. Kohli himself batted at 4.2 an over.Apart from Shannon Gabriel, no bowler - there was only one more specialist in the side - actively looked out for wickets, relying on frustrating batsmen. However, captain Kohli, India's first to score an away double, took risks and made the bowlers bowl to him because he was driving the wide ones too.Gabriel, though, should have had a wicket added to his one from day one early on the second day. Shane Dowrich had waited for 423 overs over three Tests for his first opportunity for a dismissal, but Gabriel produced the outside edge from Ashwin for a sitter, his eagerness to celebrate led to the sitter's being grassed. West Indies still managed to keep Ashwin quiet - at one point he went 40 balls for four runs - but Kohli kept finding a way around the defensive lines.Cover driving, as usual, remained the feature of Kohli's innings. When he gave the treatment to Devendra Bishoo in the 105th over, the boundary took him past his previous best of 169; it was his 50th run through the covers. A sign of how well he batted came in how, in the 113th over, he played perhaps the only ungainly shot of his innings, a half-sweep across the line to deep midwicket. Turned out he had picked the rare wrong'un from Bishoo, and was actually playing with the spin.Slow pitch, fielders in front, no pace to work with, and West Indies finally had a quiet session. Ashwin didn't look in any hurry, Wriddhiman Saha tried to break the monotony, succeeding on a couple of occasions before getting stumped to finally give Dowrich a maiden Test dismissal. Overall, though, West Indies refused to attack, which could also give India scoring opportunities, and India didn't seem overly bothered with the slow going.Seven minutes before tea, with a back-foot punch through midwicket, Ashwin brought up his hundred, reminding you of the shot of the day, a back-foot punch through mid-on for four. Amit Mishra's enterprise at the other end - 23 off 39 - brought India some quick runs. A push for declaration, and the declaration itself, were expected to brighten up proceedings post tea.
 Russia could miss the Paralympics in Rio as well as the Olympics after the International Paralympic Committee decided Friday to open suspension proceedings following a damning report into state-sponsored doping.The IPC said that in light of this week�s McLaren report, it expected to announce a decision on whether or not it will suspend Russia in the week commencing August 1."In light of the prevailing doping culture endemic within Russian sport, at the very highest levels, National Paralympic Committee of Russia (NPC) appears unable or unwilling to ensure compliance with and the enforcement of the IPC�s Anti-Doping Code within its own national jurisdiction," said a statement from the world governing body."The IPC considers this vital to ensuring athletes are able to compete on a level playing field."The suspension of NPC Russia will now be considered in accordance with the IPC Suspension Policy. That process will include, amongst other things, appropriate dialogue with NPC Russia in order to afford them due process and to allow them to present their case."The IPC said they have been provided with the names of the Paralympic athletes associated with the 35 "disappearing positive samples" from the Moscow anti-doping laboratory which were highlighted in McLaren�s report.They are also sending 19 samples from the 2014 Paralympic Winter Games held in the Russian Black Sea resort of Sochi for immediate further analysis, after they were identified as having been potentially doctored as part of a sample-swapping regime.Should Russia be suspended they will have 21 days to appeal the decision.<br/> The Paralympics take place in Rio from September 7 to 18."The McLaren report revealed an unimaginable scale of institutionalised doping in Russian sport that was orchestrated at the highest level. McLaren�s findings are of serious concern for everyone committed to clean and honest sport," said Philip Craven, the IPC president."With regard to NPC Russia, we have started proceedings to consider the suspension of their membership of the IPC."This decision was not taken lightly, but after fully evaluating the report and the additional information we have received, the IPC believes that the current environment in Russian sport -- which stems from the highest levels -- is such that NPC Russia appears unable to fulfil its IPC membership obligations in full."�
 Joe Root�s unbeaten 141 was the centrepiece of England�s commanding 314 for four on the first day of the second Test against Pakistan at Old Trafford on Friday.England captain Alastair Cook, who won the toss on a good pitch and in sunny conditions ideal for batting, made 105 and shared a second-wicket stand of 185 with Root.Having twice got himself out during England�s 75-run defeat by Pakistan in the first of a four-Test series at Lord�s last week, a determined Root did not give a chance in just over six hours at the crease on Friday.Pakistan�s left-arm pace trio of Mohammad Amir, Rahat Ali and Wahab Riaz became increasingly threatening as the skies clouded over late on.<br/> Amir took two for 63 and Rahat two for 69, with both men bowling 20 overs on Friday.But star leg-spinner Yasir Shah, who took a man-of-the-match winning 10 wickets at Lord�s, returned figures of none for 111 in 31 overs.Amir had opener Alex Hales dropped in the gully on six by Asad Shafiq.<br/> But three balls later, having repeatedly moved the ball away from Hales, Amir skilfully swung the ball back into the right-handed opener and knocked over his middle and off stumps.England were now 25 for one after seven overs.At lunch, England were 95 for one with Cook 40 not out and Root 41 not out.<br/> <br/> Root just beat Cook to the fifty milestone, getting there in 86 balls to the captain�s 90. Cook reached the landmark in style with a straight-driven four -- a clear sign he is in top form -- off Shah.A similar stroke saw him into the 90s and raised the 150 stand. <br/> Cook�s two to mid-wicket off Amir saw him to a hundred in 157 balls including 14 fours and the normally restrained Essex batsman celebrated his century with several fist pumps.Left-handed opener Cook�s 29th Test century meant he extended his own England record and drew the Essex batsman level with Australia great Don Bradman�s tally.<br/> Bradman, however, played just 52 Tests while this was Cook�s 131st match in the format.More signficantly, this was Cook�s first century in 20 Test innings since his monumental 263 against Pakistan in Abu Dhabi in October.But Amir then took the shine off an excellent session for England by bowling Cook following an under-edge from a ball that kept low.That became the last delivery before tea, with England 210 for two at the interval.James Vince, looking for a maiden Test fifty to cement his place in the side, fell in all too familiar fashion when, on 18, he chased a wide Rahat delivery outside off stump, with his edged drive caught low down by wicket-keeper Sarfraz Ahmed.What made his dismissal all the worse wast that Vince had been dropped by Younis Khan in the slips off a similar shot when on six off Amir.Root, 87 not out at tea, went to his 10th hundred in 44 Tests with his 14th four in 167 balls when he drove Shah wide of mid-on in textbook fashion.Gary Ballance (23) then helped Yorkshire team-mate Root add on 73 before he chopped on against Rahat.England have not lost a home Test batting first since 2012, a sequence encompassing 10 wins and two draws.
 Virat Kohli continued his efficient and energetic accumulation of runs to bring up his maiden first-class double hundred, which took India past 400 in the first session of the second day.This was the first away double-century by an India captain. In a wicketless session that went for 102 runs, R Ashwin enjoyed some luck but also displayed some attractive shots; a back-foot punch for four through mid-on was the shot of the session. The partnership between the two swelled to 168.As was the case on day one, Gabriel bowled a short burst with the new ball, which was taken first thing in the morning. He tested Ashwin, who was dropped on 43 by Dowrich, who looked like he was already thinking of celebrating even before completing the simple catch. Jason Holder looked unremarkable at the other end; Carlos Brathwaite did a better job of testing the batsmen's patience with consistent bowling a set of stumps outside off stump.The tactic had kept India's top order quiet in the first session of the match, but Kohli didn't wait for too long before taking a calculated risk, which was executed so well it didn't look like a risk. Kohli has his own way of choosing what balls to drive. Each delivery of Brathwaite's first three overs was bowled to Kohli, who attempted to score off only one, the widest of the lot. It wasn't a half-volley either, but Kohli drove superbly on the up, and got a boundary to break any pressure the joining of dots creates.Cover driving, as usual, remained the feature of Kohli's innings. When he gave the treatment to Devendra Bishoo in the 105th over, the boundary took him past his previous best of 169; it was his 50th run through the covers. A sign of how well he batted came in how, in the 113th over, he played perhaps the only ungainly shot of his innings, a half-sweep across the line to deep midwicket. Turned out he had picked the rare wrong'un from Bishoo, and was actually playing with the spin.No Test double is easy, but in the last over before lunch, Kohli strolled to one of the more inevitable ones with an easy single off a short offbreak. Ashwin, who has two centuries against West Indies to his name, was now looking comfortable with 64 runs at a Test average of 67.80 against West Indies.�
 �Virat Kohli stroked a commanding 12th Test century to put India in control at 302 for four when stumps were drawn on the opening day of the first Test against the West Indies on Thursday.Having chosen to bat first on winning the toss, the Indian captain led the way with a thoroughly authoritative innings of 143 not out, decorated with 16 fours that has so far occupied just over four hours off 197 deliveries.He put on 105 for the third wicket with Shikhar Dhawan, the opening batsman missing out on a three-figure innings of his own when he fell lbw for 84 sweeping at Devendra Bishoo on the stroke of the tea interval.Bishoo ended the day with figures of three for 108 off 27 overs. Surprisingly he was not called upon by his captain, Jason Holder, in the first period of play, when even debutant batsman and part-time off-spinner Roston Chase delivered eight overs.However his dismissal of Pujara via a horribly miscued pull in the first over after lunch ushered in Kohli who proceeded to transform the rest of the day into a testament to his ever-increasing stature as a batsman of the highest class.Gabriel removed Murali Vijay for just seven after half-an-hour�s play when the right-hander fended at a lifting delivery for Kraigg Brathwaite to take the catch at the second attempt at second slip.Pujara looked untroubled on joining Dhawan at the crease with the pair putting on 60 before the middle-order player�s error of judgement at the start of the afternoon session.Having opted to go into the match without uncapped fast-medium bowler Miguel Cummins, the only other pace threat available in the West Indies pre-match squad of 13, it was left to Holder, fellow medium-pacer Carlos Brathwaite and Chase to do the bulk of the early work in support of Gabriel before Bishoo got into his work after lunch.Early in his innings, Kohli passed 3,000 career Test runs and later on reached 1,000 as Test captain. But the most important figures were the partnerships built around his excellent innings.His century stand with Dhawan was followed by a further 60 put together with Rahane followed by a fifth-wicket stand so far worth 66 with Ravichandran Ashwin.With two Test centuries against the West Indies on the Indian sub-continent, the lower-order player will resume on the second morning unbeaten on 22 alongside Kohli.While the West Indies have packed their side with batting, India opted for a bowling attack comprising three pacers and two spinners, omitting Ravindra Jadeja in preference for Amit Mishra to work in tandem with Ashwin as specialist slow bowlers.West Indies have not defeated India in Test cricket for 14 years since the end of the 2002 series in the Caribbean and are the decided underdogs for the first meeting with these opponents on home soil for five years.�
 Captain Alastair Cook compiled a trademark century to lift England to a commanding 210 for two at tea on the first day of the second Test against Pakistan in Manchester on Friday.Cook, who won the toss in good batting conditions, shared a smooth second-wicket partnership of 185 with Joe Root (87 not out) before being bowled by Mohammad Amir for 105 just before the interval.Pakistan, who won the first Test, toiled in the field, their only other success coming in the morning when fast bowler Amir bowled Alex Hales for 10 with a rapid full-pitched delivery.Cook and Root carried the hosts to 95 for one at lunch and the skipper reached his 29th Test hundred shortly before tea, reward for a typically composed innings.<br/>The left-hander mixed watchful defence with crisp drives and cuts which brought him 15 fours before Amir produced a ball that kept low and crashed into his stumps off the bottom of the bat.Root sweetly straight-drove his second delivery from Rahat Ali to the boundary and also looked in good form after his recent barren patch, hitting 12 fours all around the ground.Pakistan lead the four-match series 1-0 after their 75-run win in the first Test at Lord�s last week.�
 Alastair Cook and Joe Root overcame the early loss of Alex Hales to leave England well-placed on 95 for one at lunch on the first day of the second Test against Pakistan at Old Trafford on Friday.Cook, who marked his 50th Test as England captain by winning the toss, was 40 not out and Root unbeaten on 41, with the hosts looking to bounce back from losing last week�s first Test at Lord�s.England�s second-wicket partnership was so far worth 70 runs after Hales was bowled by a superb Mohammad Amir delivery for 10.<br/>Predictably, there were a few jeers as Amir prepared to bowl the first ball of the match.Amir, who took the last wicket in Pakistan�s win in the first of this four-Test series, saw his first and second deliveries edged through gully for four by Cook.<br/>Amir, one of three left-arm quicks in Pakistan�s attack with Rahat and Wahab Riaz, had Hales dropped in the gully on six by Asad Shafiq, the ball speeding away to third man for four.But three balls later, having repeatedly moved the ball away from Hales, Amir skilfully swung the ball back into the right-handed opener.The delivery also cut off the seam a touch and knocked over Hales�s middle and off stumps. England were now 25 for one after seven overs.Leg-spinner Yasir Shah, England�s tormentor-in-chief at Lord�s with 10 wickets, saw his second ball Friday cut in front of point by Root for four. That shot brought up England�s fifty in 92 balls with 10 boundaries.Root, in the manner of Yorkshire and England great Geoffrey Boycott, forced both Wahab Riaz and Amir through cover-point off the back foot for fours as he and his skipper looked to make the most of an even-paced pitch in sunny conditions ideal for batting.�� 
�Mohammad Amir blows through Alex Hales and Pakistan have their first as England elected to bat first after winning the toss in�</strong><strong>Old Trafford.</strongEngland captain Alastair Cook looked fairly happy with getting the choice. He confirmed that Moeen keeps his place as the sole spinner and Rashid misses out. �James Anderson and Ben Stokes returned, as forecast, for Steven Finn and Jake Ball."As always when we come to Old Trafford the grounds man does a great job and produces a fair wicket," Cook said after winning the toss.Pakistan caption Misbah-ul-Haq also wanted to bat but he said it's a "matter of staying disciplined whatever you do first". He confirmed an unchanged Pakistan side.strong>Pakistan:</strong> 1 Mohammad Hafeez, 2 Shan Masood, 3 Azhar Ali, 4 Younis Khan, 5 Misbah-ul-Haq (capt), 6 Asad Shafiq, 7 Sarfraz Ahmed (wk), 8 Wahab Riaz, 9 Mohammad Amir, 10 Rahat Ali, 11 Yasir Shah.strong>England:</strong> 1 Alastair Cook (capt), 2 Alex Hales, 3 Joe Root, 4 James Vince, 5 Gary Ballance, 6 Ben Stokes, 7 Jonny Bairstow (wk), 8 Moeen Ali, 9 Chris Woakes, 10 Stuart Broad, 11 James Anderson.
strong>There is space for Juan Mata at Manchester United but the midfielder must fight to break into the first team, manager Jose Mourinho has said.</strongMourinho was in charge at Chelsea when Mata left Stamford Bridge to join United in January 2014, having won back-to-back Player of the Year awards in his two previous seasons there."He's here and he works hard. He knows that I know he is a good player and he has space in the squad. Until August 31 the market is open for every one of my players that is not happy, but to be fair I think he is (happy)," Mourinho told the BBC."I think he is happy and I am not expecting him to ask to leave. I am expecting him to do what he is doing now, which is to fight for a place.""We have 38 matches in the Premier League, we expect to play a lot of them in the Europa League and domestic cups so in a squad of, let's say, 22 players, there will be a space for everyone. So, yes, there is a space for Juan," Mourinho added.Mata scored six goals in 38 Premier League appearances last season as United finished fifth in the standings.Since his arrival in May, Mourinho has boosted United's squad by signing defender Eric Bailly, midfielder Henrikh Mkhitaryan and striker Zlatan Ibrahimovic and, according to media reports, is chasing midfielder Paul Pogba from Serie A champions Juventus.The 53-year-old refused to comment on the Frenchman's possible return to United, but said he has three different choices for his final major transfer.Mourinho's first game in charge will be against Bundesliga side Borussia Dortmund in the International Champions Cup in Shanghai later on Friday.
 Pakistan and England will clash today at Old Trafford as the hosts will be keen on leveling the series after their 75-run loss at Lord's to Pakistan.�</strongPakistan have reportedly made no changes to their squad after the first Test match at Lord's. However, England have recalled fast bowler James Anderson in a bid to skittle Pakistani batsmen and level the series after their loss at Lord's to Pakistan.�Yasir Shah will also be part of the squad after news started doing the rounds that the leg-spinner had encountered a minor injury during practice. Yasir was instrumental in Pakistan's first win at Lord's due to his impressive 10-wicket haul. He became the first Asian bowler to take 10 wickets at Lord's.�Pakistan will be looking to improve their batting display as the inclusion of James Anderson could spell doom for their comparatively weak batting order. Here are are probable squads for today's Test match at Old Trafford:-strong>England (probable)</strong> 1 Alastair Cook (capt), 2 Alex Hales, 3 Joe Root, 4 James Vince/Adil Rashid, 5 Gary Ballance, 6 Ben Stokes, 7 Jonny Bairstow (wk), 8 Moeen Ali, 9 Chris Woakes, 10 Stuart Broad, 11 James Anderson.strong>Pakistan (probable) 1 Mohammad Hafeez, 2 Shan Masood, 3 Azhar Ali, 4 Younis Khan, 5 Misbah-ul-Haq (capt), 6 Asad Shafiq, 7 Sarfraz Ahmed (wk), 8 Wahab Riaz, 9 Mohammad Amir, 10 Rahat Ali, 11 Yasir Shah.</strongPakistan's Yasir Shah needs only 14 more wickets in two Test matches to become the fastest bowler in history to secure 100 wickets.�After England's loss at Lord's, England captain Alastair Cook had vowed to use Pakistan's press up celebration as motivation for the remaining matches of the series. Pakistani captain Misbah-ul-Haq had stated that Pakistan did not disrespect England via their celebrations.�<strong>�</strong
 Brazil arrested 10 people on Thursday suspected of belonging to a poorly organised group supporting Islamic State (IS) and discussing terrorist acts during the next month's Olympic Games in Rio de Janeiro.</strongThe group, described as "absolutely amateur" by Justice Minister Alexandre Moraes, were all Brazilian citizens and in contact via messaging apps such as WhatsApp and Telegram. They did not know each other personally, the minister said.The arrests came a week after a truck massacre in Nice, France, and amid growing fears of a possible attack when the first Olympics to be held in South America kicks off on Aug. 5. Some 500,000 visitors are expected to travel to Brazil for the Games, many of them from the United States.Although Brazil has no history of conflict with known militant groups, Moraes said the Games had made the Latin American country a more likely target, particularly because of participation by countries fighting IS."Today was the first operation against a supposed terrorist cell in Brazil," he told a news conference. "Brazil was not part of the coalition against IS but, because of the upcoming Olympics and because it will receive many foreigners, Brazil has become a target."Moraes said the individuals detained on Thursday were being monitored because they had accessed websites linked to IS, but the group had "no preparation at all" and was a "disorganized cell". He said that authorities intervened when the group started planning actions including martial-arts training and the purchase of firearms.While the group did not have direct contact with IS, some members had made "pro forma" declarations of allegiance to the militant Islamist group via social media, the minister said.A presidential aide said on Thursday that Brazilian police and intelligence services had cooperated with French, German, British, Israeli and U.S. intelligence agencies in the arrests.Brazil's federal police are monitoring around 100 people for possible links to terrorist groups, mostly in the lawless tri-border region with Paraguay and Argentina, said the aide, requesting anonymity."Brazil was really being preemptive in this case," said Scott Stewart, vice president of tactical analysis at Stratfor, a global intelligence and advisory firm. "There are some tactical benefits to arrests like this...You could disrupt anything in the works and it may also give other people pause."strong>OPERATION HASHTAG</strongBrazil plans to deploy about 85,000 soldiers, police and other security personnel during the Rio Games, more than twice as many in place for the London Olympics in 2012.It will also operate a joint security centre where representatives from more than 100 countries are expected to help share intelligence and monitor the event.Local media raised concern that the arrests might affect ticket sales for the Games, with the release of 100,000 tickets on Thursday aimed at improving attendance.The local Olympic organising committee, Rio 2016, referred requests for comment to the federal government.Moraes said there was no evidence that the group had acquired weapons though one member had contacted a clandestine weapons site in neighbouring Paraguay that sells AK-47 assault rifles."Those involved participated in an online group denominated 'the defenders of Sharia' and were planning to acquire weapons to commit crimes in Brazil and even overseas," Moraes said.Two people will be brought in for questioning, including the head of a local NGO, in addition to the 10 people arrested across as many states, Moraes added.Federal Judge Marcos Josegrei da Silva, who approved the arrests from the southern city of Curitiba, said police had 30 days to analyse evidence. He emphasized that no-one had been charged in the operation, codenamed Hashtag."These are internet affirmations on social networks," Josegrei told a news conference. "Not everything a person conceives of in the virtual world is carried out in the real world."Interim President Michel Temer called an emergency cabinet meeting following the arrests, the first under Brazil's tough new anti-terrorism law approved this year.Brazilian and U.S. officials have raised concern over the disappearance of former Guantanamo Bay detainee Jihad Diyab, after he had resettled in neighbouring Uruguay, saying he could now be in Brazil.Last week, Brazil deported a French-Algerian nuclear physicist convicted by a Paris court in 2012 for his involvement in helping to plot an attack in France in 2009 with an al Qaeda militant in Algeria.Brazil's intelligence agency said on Tuesday it was investigating all threats to the Rio Olympics, after a previously unknown Brazilian Islamist group calling itself "Ansar al-Khilafah Brazil" pledged allegiance to IS. It was unclear whether those detained on Thursday have any relation with that group.On Wednesday, SITE Intelligence Group, a U.S. company that monitors the internet, said alleged Islamist militants were giving advice for lone actors to carry out attacks during the Games, including the use of toy drones. The messages are being sent via the mobile messaging system Telegram, SITE said.Stratfor's Stewart said that, with no ability to project terrorist operatives into Brazil, IS could only seek to encourage grassroots groups. Brazil has one of the world's largest Arab diasporas, mostly Christians of Syrian and Lebanese origins.After last week's attack in Nice, France, Brazilian authorities said they would step up security measures for the Games by adding further roadblocks and cordons and frisking more visitors in Rio de Janeiro. Brazilian police have travelled to Nice to study the attacks there, officials said.
 Captain Virat Kohli compiled an unbeaten century to put India in a commanding position on the first day of the opening test against West Indies in Antigua on Thursday.</strongKohli was on 143 at the close of play, his 12th test century, as the visitors reached 302 for four.He shared a 105-run stand for the third wicket with opener Shikhar Dhawan (84) while Ravichandran Ashwin was 22 not out at stumps.Kohli was rarely beaten in the 197 balls he faced, scoring freely on both sides of the wicket with a rich array of strokes as he posted his second highest test score and moved in sight of a career-best 169.The West Indies bowlers toiled hard for little reward on a flat pitch at the Vivian Richards Stadium in North Sound.Leg-spinner Devendra Bishoo was the pick of the attack, taking three for 108 in 27 overs, though two of his scalps came off short balls that induced poor shots.Captain Jason Holder decided not to take the new ball before stumps, perhaps figuring he and fellow paceman Shannon Gabriel were too tired to make good use of it.Earlier, India won the toss and batted but were in early trouble when opener Murali Vijay was dismissed for seven in the seventh over.Vijay could only fend at a sharply-rising Gabriel delivery, sending an easy catch to second slip Kraigg Brathwaite who juggled the ball before grabbing it safely.West Indies picked up a second wicket shortly after lunch when Bishoo, with his fourth delivery, had Cheteshwar Pujara caught at point for 16 off a leading edge.Bishoo struck again with the last ball before tea when he deceived Dhawan with a well-flighted delivery, hitting the left-hander on the front pad as the batsman tried to sweep.It was an easy lbw decision for umpire Aleem Dar, with a TV replay showing the ball pitched in line and would have crashed into middle stump.Ajinkya Rahane (22) was the only batsman dismissed in the final session, caught at mid-wicket off Bishoo.Though he fell short of his century, Dhawan was pleased with the way he survived at the crease for so long."In the first session when Gabriel was bowling really good and quick I knew I had to take the punches," Dharwan said in an on-field interview."I was happy I (showed) persistence and patience to keep on going."India are playing only five specialist batsmen while West Indies have loaded up with batsmen and all-rounders, probably paying the price as they lacked front-line bowling options.
 England moved relentlessly towards a series-leveling victory over Pakistan on a rain-disrupted third day of the second test in Manchester on Sunday.</strongThe hosts bowled out the Pakistanis for 198 before declining to enforce the follow-on, ending the day on 98 for one to lead by a commanding 489 runs with two days remaining at Old Trafford.The touring side, replying to England's 589 for eight declared, resumed on 57 for four and James Anderson soon had Shan Masood caught at second slip by Joe Root for 39.Rain forced the players off the field for about an hour and when they returned Asad Shafiq, on four, drove loosely at a wide ball from Stuart Broad and Alex Hales took a simple catch at point.Sarfraz Ahmed showed some attacking intent and hit five boundaries in his 26 before nicking Ben Stokes to Root at an overcast Old Trafford.Root, who scored a test-best 254 on Saturday, pouched his fourth slip catch just before the interval, Yasir Shah, on one, becoming Chris Woakes's fourth victim of the innings.Captain Misbah-ul-Haq and Wahab Riaz defiantly added 60 for the ninth wicket before Misbah was caught by Alastair Cook at short fine leg off Moeen Ali for 52 and Riaz was last man out for 39.England led by 391 runs but Cook surprisingly decided not to make Pakistan bat again, preferring to give his bowlers a rest.Cook and Hales added 11 runs before rain halted play again and when the players returned Hales was caught by wicketkeeper Ahmed off Mohammad Amir for 24, another failure for the under-pressure opening batsman.But Root returned to the middle to join his captain and the pair took England through to the close without further loss, Cook finishing on 49 not out with Root on 23.Pakistan won the first match in the four-test series by 75 runs at Lord's.
 England captain Alastair Cook declared his side�s first innings on 589 for eight after tea on the second day of the second Test against Pakistan at Old Trafford on Saturday.Joe Root top-scored with a Test-best 254, with opener Cook making 105 as extended his own record for most Test centuries by an England batsman to 29.The innings ended when Jonny Bairstow holed out for 58.Wahab Riaz took three for 106 in 26.2 overs. The left-arm quick was one of three Pakistan bowlers who conceded more than a hundred runs each.Leg-spinner Yasir Shah, who took a match-winning 10 for 141 as Pakistan went 1-0 up in the four-match series with a 75-run win at Lord�s last week, finished the innings with figures of one for 213 in 54 overs.
 Joe Root powered past 200 as England moved on to 533 for six at tea on the second day of the second test against Pakistan in Manchester on Saturday.Root, who had batted for exactly 10 hours, was on 226 not out at the interval, the right-hander�s highest test score signalling a return to form after a disappointing series against Sri Lanka.England will look to declare early in the final session at Old Trafford as they bid to level the series after Pakistan won the first test at Lord�s by 75 runs.The hosts had resumed in the morning on 314 for four and nightwatchman Chris Woakes dominated the early strike, peppering the boundary with crisp drives and cuts.Root went past 150 for the fifth time in his test career but he did offer one chance which was spilled by Younus Khan at slip off leg-spinner Yasir Shah.Woakes continued his fine run of form, hitting eight fours and a six on the way to his second test half-century before he poked a return catch to Shah and departed for 58.Ben Stokes, returning to the side after injury, made a fluent 34, including five fours, and shared a sixth-wicket partnership of 57 with Root who went past 200 with a perfectly executed reverse sweep off Shah.Stokes nicked a catch down the leg-side to wicketkeeper Sarfraz Ahmed off Wahab Riaz which was given out after a lengthy review but Jonny Bairstow kept up the momentum with a busy unbeaten 32.�
 Joe Root went serenely past 150 as England moved on to 427 for five at lunch on the second day of the second test against Pakistan in Manchester on Saturday.</strongRoot (185 not out) and nightwatchman Chris Woakes (58) extended their fifth-wicket partnership to 103, taking advantage of a tiring attack on a good batting wicket at Old Trafford.Resuming on 314 for four, Woakes dominated the early strike and peppered the boundary with crisp drives and cuts.Root went past 150 for the fifth time in his test career but he did offer one chance which was spilled by Younus Khan at slip off leg-spinner Yasir Shah.Woakes continued his fine form, hitting eight fours and a six on the way to his second test half-century before he poked a return catch to Shah.Ben Stokes, returning to the side after injury, was six not out at the interval.Pakistan won the first test in the four-match series by 75 runs.
 Virat Kohli�s first double-century in any form of first-class cricket and Ravichandran Ashwin�s third Test century against the West Indies anchored India�s formidable first innings total of 566 for eight declared on the second day of the first Test on Friday.Left to negotiate a testing hour before the close of play, the West Indies lost Rajendra Chandrika to a catch at the wicket off Mohammed Shami, leaving opening partner Kraigg Brathwaite and nightwatchman Devendra Bishoo to resume on the third morning at 31 for one.On another day of generally fruitless toil for the West Indies, Kohli extended his batting masterclass from the first day for another two hours, adding another 57 runs to reach exactly 200 just before the lunch interval.He became the first Indian captain to score a Test double-century away from home.Any expectation of more of the virtuoso performance was ended off the second delivery upon the resumption when he played on to the persevering and previously unlucky Shannon Gabriel.Kohli�s innings spanned just over six hours and was embellished by 24 fours off 283 deliveries.Dropped on 43 by new wicketkeeper Shane Dowrich off Gabriel in the morning session, Ashwin played the supporting role to his captain in a 168-run fifth-wicket stand that drained the enthusiasm from the home side before lunch.However Kohli�s surprise demise put the focus squarely on the all-rounder and he made the most of the promotion to number six in the batting order for the first time in his Test career, reaching three figures just before tea with a boundary off the tiring leg-spinner Bishoo.He got good support from wicketkeeper-batsman Wriddhiman Saha, who contributed 40 to a 71-run stand for the sixth wicket before he became Dowrich�s first wicketkeeping victim in Test cricket, being stumped off the bowling of part-time off-spinner Brathwaite.It was the first of three wickets for Brathwaite, who ended Ashwin�s vigil at 113 and then accounted for Amit Mishra for an attacking 53 which prompted the anticipated declaration.�
 Real Madrid star Cristiano Ronaldo inaugurated his own hotel on Friday called "CR7" after his initials and shirt number, while the airport on his home island of Funchal was renamed in his honour.</strongJust two weeks after leading Portugal to the Euro 2016 title in France, the national team skipper appeared on a terrace of the red-coloured building overlooking the sea, wearing a white baseball cap."It�s a little strange. I never could have imagined that I would be a hotelier at the age of 31," said Ronaldo of his hotel which opened for business on July 1.Meanwhile, the president of the Madeira region, Miguel Albuquerque, said that the local airport would be named in Ronaldo�s honour.On Saturday, Ronaldo will visit his new museum which is situated on the ground floor of his hotel.<br/>A second "CR7" hotel is due to open in Lisbon later this year with two others planned in Madrid and New York in 2017.
strong>Former Manchester United player Paul Scholes has questioned whether the club should pay a world-record fee for Juventus midfielder Paul Pogba, saying the 23-year-old is not in the same bracket as the likes of Cristiano Ronaldo and Lionel Messi.</strongUnited have been negotiating with Juventus over the transfer of Pogba, who is a top target for new manager Jose Mourinho, according to media reports in Britain.Scholes was Pogba's team mate when the latter was a teenager at United and feels despite his obvious talent, the France international has a long way to go before he can stake his claim as one of the world's top players and command a record fee."He was a very talented young player, I played with him and I knew how good he was," Scholes, who is playing in a futsal tournament in India, told the Times of India daily."I just don't think he is worth 86 million pounds ($112.75 million). For that sort of money, you want someone who is going to score 50 goals a season like Ronaldo or Messi. Pogba is nowhere there yet."Scholes also praised Manchester City's capture of Borussia Dortmund midfielder Ilkay Guendogan for a fee worth around 20 million pounds, according to British media reports."I think Guendogan is a really impressive player," Scholes said. "I've seen a lot of him at Borussia Dortmund.""If he can stay fit, I think he can be a fantastic player. I also think he is great value for the money Manchester City paid for him. I think he is a bargain."
 France�s Gael Monfils, seeking his first ATP crown outside Europe, and Ivo Karlovic, nearing titles in consecutive weeks at age 37, advanced to the ATP and WTA Washington Open final in sweltering conditions Saturday.The 29-year-old Frenchman, whose most recent of five career titles came in 2014 at Montpellier, ripped ill German teen Alexander Zverev 6-4, 6-0 in one hour.Croatia�s 35th-ranked Karlovic fired 14 aces to defeat US fifth seed Steve Johnson 6-4, 6-4 in a match where temperatures on the court reached 140 degrees Fahrenheit (60 Celsius).Monfils has split four career ATP matches against Karlovic, winning their most recent meeting at Madrid in 2011 but losing their only prior hardcourt matchup in 2009 at Cincinnati.Karlovic, averaging 20 aces a match, has not surrendered a service break this week.Zverev, ranked a career-best 27th but sick with food poisoning, warned Monfils could test Karlovic with quick returns.Monfils, who seeks his first outdoor crown since Sopot in 2005, is 5-19 in ATP finals, including a 2011 loss at Washington to Radek Stepanek.Karlovic, 7-8 in ATP finals, won his seventh career title last week on Newport grass to become the oldest tour singles champion since 1979.Zverev, 19, smacked a forehand long to surrender the first set in 24 minutes and Monfils rolled from there.Belgian seventh seed Yanina Wickmayer, a 2009 US Open semi-finalist, battled through the heat to oust Kazakh sixth seed Yulia Putintseva 6-4, 6-2.<br/> Wickmayer seeks her fifth WTA title Sunday against America�s 122nd-ranked Lauren Davis, a 6-2, 6-3 winner over 173rd-rated American Jessica Pegula.Karlovic broke in the third game of the match and took the first set in 38 minutes, ending it like the second with back-to-back aces.In the third game of the second set, Karlovic rocketed a service return forehand winner past Johnson and then dropped a slice backhand winner on the line to break for a 2-1 lead.�
 West Indies were facing the prospect of another huge series-opening defeat at 21 for one in their second innings at stumps, a deficit of 302 runs, after being forced to follow-on on the third day of the first Test against India on Saturday.</strongFast-medium bowlers Umesh Yadav and Mohammed Shami took four wickets each to wreck the home side�s first innings, dismissing them for 243 in the final session of the day with half-centuries by opener Kraigg Brathwaite and wicketkeeper-batsman Shane Dowrich representing the only meaningful resistance.Brathwaite, who defied India�s array of pace and spin for almost five hours in getting to 74, could not survive the first over of the second turn at the crease, being trapped palpably leg-before by Ishant Sharma."It was a decent knock in the first innings but I would have loved to go on," said Brathwaite at the close of play."With three out-and-out pacers and two spinners, the Indians have a lot to choose from. They stuck to their plans very well. It was never easy batting against them."Rajendra Chandrika and Darren Bravo survived to the close and will resume on the fourth day hoping to put up a much more concerted effort than in the first innings.In their previous three Test series, the West Indies lost the opening matches at home to Australia by nine wickets a year ago and then by an innings in Sri Lanka and Australia at the end of 2015.India�s bowlers made a mockery of all the lamentations of a placid, lifeless pitch over the first two days with an impressive, purposeful effort throughout the day.They were held up though at the start of play as Braithwaite and nightwatchman Devendra Bishoo frustrated Virat Kohli and his men for 75 minutes until leg-spinner Amit Mishra had Bishoo stumped by wicketkeeper Wriddhiman Saha.It was second of six dismissals for Saha in the innings, putting him alongside Syed Kirmani and Mahendra Singh Dhoni for the most dismissals by an Indian wicketkeeper in a Test innings.From that point on it became a virtual procession of West Indies batsmen to and from the wicket with Shami outstanding either side of the lunch interval when he disposed of Bravo, Marlon Samuels and Jermaine Blackwood to add to his dismissal of Chandrika late on the second evening.Debutant Roston Chase displayed a measure of grit in a 47-run stand for the sixth wicket with Brathwaite, but the reintroduction of Yadav for another spell in mid-afternoon proved telling.Chase miscued an attempted pull to give Kohli a simple catch at short midwicket and Brathwaite could not get out of the way of a sharp lifter to give a catch behind.Dowrich counter-attacked superbly in getting to an unbeaten 57 with ten fours by the time the innings folded, Yadav dispensing with Jason Holder and Carlos Brathwaite off successive balls before Mishra completed the job by bowling a heaving Shannon Gabriel.
 Britain�s double Olympic champion Mo Farah produced a devastating 5,000m display on Saturday at the Diamond League event in London to prove he is in top form heading into the Rio Olympics.The 33-year-old showed exactly why he is the favourite to defend his two Olympic titles in Brazil next month with a stunning example of speed and stamina at the Olympic stadium.His time of 12 minutes and 59.29 seconds was the fastest mark of the year, and the fourth time in his career that he has dipped under 13 minutes.Most ominously for those trying to catch him, particularly the Kenyans, this was his fastest time in the discipline since before the London 2012 Olympics.Farah made his move after 3600m and never looked back, making the final 1400m appear almost like celebratory laps of honour. He crossed the finishing line by doing his trademark Mobot celebration.Fellow Briton Andrew Butchart was second in a time of 13:14.85, with American Bernard Lagat third in a season�s best 13:14.96."This is amazing, I got amazing support from the crowd," said Farah. "I wanted to do it for them."This is my last chance before Rio, this track has so much meaning to me. Not many athletes can do it in their home town."This is my best form (heading into a major event). I am in good shape. I have to keep my feet on the ground. Anything can happen over the next two-and-a-half weeks. I have to stay patient and cool."Dutchwoman Dafne Schippers consolidated her position as the number one sprinter in the Diamond League format by winning the women�s 200m.The world champion, who ran the third-fastest time in history in Beijing last year, crossed the line in 22.13sec - half a second ahead of American Tiffany Townsend.Marie-Josee Ta Lou of the Ivory Coast set a personal best of 10.96sec to cruise to victory in the women�s 100m.Trinidadian Michelle-Lee Ahye was second (10.99sec) while Shelly-Ann Fraser-Pryce, Jamaica�s 2008 and 2012 Olympic champion, was behind the pace in 11.06sec.�
 James Anderson marked his return to international duty with three wickets as England beat Pakistan by a massive 330 runs to win the second Test at his Old Trafford home ground on Monday.Pakistan, set a mammoth 565 for victory, were bowled out for 234 in their second innings after tea on the fourth day.This was England�s fifth-biggest Test win in terms of runs and Pakistan�s fourth worst defeat.England�s Joe Root, who made a Test-best 254 in a mammoth first innings 589 for eight declared, was named man-of-the-match.The first innings also saw England captain Alastair Cook make 105 -- his 29th Test hundred.England�s two senior batsmen combined again in a second -innings total of 173 for one declared.Left-handed opener Cook made 76 not out and vice-captain Root 71 not out, with the duo putting on 105 for the second wicket before the skipper called a halt on Monday morning.Anderson returning to Test cricket after missing Pakistan�s 75-run win in the first Test at Lord�s with a shoulder injury, then struck twice to remove both Shan Masood (one) and Azhar Ali (eight).But with Pakistan on the ropes, England saw Stokes injure himself while bowling. After delivering his second ball of the 22nd over, with Pakistan 68 for two, the Durham pace bowler pulled up with a right calf strain and left the field.An England spokesman said the 25-year-old Stokes, playing his first international match after suffering a knee injury in the first Test against Sri Lanka in May, would undergo a scan on Tuesday to determine the full extent of the injury.<br/> <br/> Later, Ali dismissed both Hafeez (42) and Younis Khan (28).Hafeez gave a simple bat/pad catch to Gary Ballance at short leg.Pakistan�s 83 for three became 102 for four when Younis, trying to loft Ali over the top, was caught at long-on.Pakistan captain Misbah-ul-Haq also needlessly chanced his arm in hitting Ali for six. But having made a patient 52 in Pakistan�s meagre first innings 198, Misbah was unlucky to fall to Chris Woakes for 35 when he dragged a full toss onto his stumps.Pakistan were 161 for five at tea and three balls later that became 163 for six when Sarfraz Ahmed was caught down the legside by opposing wicket-keeper Jonny Bairstow off Woakes.Asad Shafiq made a painstaking 39 before he was lbw to Anderson, England�s all-time leading Test wicket-taker.Yasir Shah (10), missing with a careless pull, was plumb lbw to Ali.Root took England to the brink of victory when the part-time off-spinner struck second ball to have Wahab Riaz caught off a top-edged sweep by Cook. Pakistan were then 208 for nine.Tailender Mohammad Amir delayed the inevitable with several fine shots before he holed out off Woakes.Both Anderson and Woakes took three for 41, with Ali bagging three for 88.
 �Moeen Ali took two wickets as England moved closer to victory in the second Test against Pakistan at Old Trafford on Monday.However, the second session of the fourth day also saw England all-rounder Ben Stokes leave the field with a calf injury.At tea, Pakistan were 161 for five in their second innings, needing a further 404 runs to reach their huge victory target of 565.Asad Shafiq was 35 not out and Sarfraz Ahmed five not out.Before lunch, James Anderson returning to Test cricket after missing Pakistan�s 75-run win in the series opener at Lord�s with a shoulder injury, struck twice on his Lancashire home ground to remove both Shan Masood (one) and Azhar Ali (eight).But with Pakistan on the ropes, England then saw Stokes injured himself while bowling. After delivering his second ball of the 22nd over, with Pakistan 68 for two, the Durham pace bowler pulled up with a right calf strain and left the field.Later, Ali dismissed both Hafeez (42) and Younis Khan (28) in a spell of two for 13 in 19 balls.Hafeez gave a simple bat/pad catch to Gary Ballance at short leg.<br/> Pakistan�s 83 for three became 102 for four when Younis, trying to loft Ali over the top, was caught at long-on.It was a reckless shot from such an experienced player given that Pakistan needed to bat time to escape with a draw and that there was man deep in the field waiting for a chance.Misbah too needlessly chanced his arm in hitting Ali for six.But having made a patient 52 in Pakistan�s meagre first innings 198, Misbah was unlucky to fall to Chris Woakes for 35 when he dragged a full toss onto his stumps.Earlier, England declared their second innings on 173 for one. Alastair Cook, the England captain, was himself 76 not out and Joe Root unbeaten on 71.England, already with a huge lead of 489 runs, resumed on 98 for one.Cook, who scored 105 in England�s mammoth first innings 589 for eight declared, was 49 not out and vice-captain Root, whose Test-best 254 was the cornerstone of that total, 23 not out. Between them, they plundered 75 runs in just nine overs on Monday before Cook called a halt.
 David Richardson, the International Cricket Council (ICC) chief, on Monday, handed Steve Smith the ICC Test Championship mace and US$1million in prize money for Australia finishing as the top-ranked Test nation in the 12-month window."The mace is a symbol of excellence and recognition of a side's outstanding achievement in the toughest format of the sport. Australia's winning performances have been exceptional and they thoroughly deserve to be awarded the mace." said Mr Richardson."These are exciting times for Test cricket as the top four ranked countries are involved in high profile series across three different continents showcasing the very best this format of the sport has to offer. I am sure the incentive of achieving the number-one ranking will further motivate them, bringing out the best in the players," added Mr Richardson.Australia, under Smith's leadership, won 10 Tests in the 12-month period as on the cut-off date of April 1. On receiving the mace, a pleased Smith said: "It is a huge honour to be the number-one ranked Test side in the world and the credit should go to all the work the players and support staff have put in over the last 12 months."I am really proud of our young team and what we have accomplished so far but there is still more we would like to achieve. We now need to put in consistent performances, both at home and away, to continue to be successful and keep the number-one ranking."Winning away from home has often been a challenge for us, especially in sub-continental conditions, but this is something we are looking to change in this upcoming series against Sri Lanka," concluded Smith.Given the small margin of gap between the top-four sides, several permutations exist for India, Pakistan and England to usurp Australia. Second-placed India (112) are breathing down Australia's neck with just six points separating the two teams. Pakistan are third on 111, while England lie fourth, on 108 points. To keep a hold on the top spot, Australia need at least a 1-0 win over Sri Lanka, and need England to beat Pakistan in at least one Test.For India to pip Australia, however, they will need to beat West Indies 4-0 and hope the England-Pakistan series ends in a draw and also Sri Lanka wins by 1-0 or a better margin.Pakistan can claim the top spot for the first time in history if they beat England and Sri Lanka beats Australia.For England, it seems a bit of an uphill climb as, they will need to beat Pakistan in the remaining three Tests, apart from needing West Indies to beat India in at least one Test. They'll also need Sri Lanka to beat Australia.�
 James Anderson struck twice on his Lancashire home ground as England eyed a series-levelling win in the second Test against Pakistan at Old Trafford on Monday.Pakistan were 47 for two at lunch on the fourth day, needing a further 518 runs to reach their unlikely victory target of 565.Anderson, England�s all-time leading wicket-taker, removed both Shan Masood (one) and Azhar Ali (eight) in a spell of two wickets for four runs in eight balls.<br/> Mohammad Hafeez was 24 not out and Younis Khan 12 not out.Left-handed opener Masood fell to Anderson for the sixth time in Tests when he edged the paceman straight to England captain Alastair Cook at first slip.Anderson, returning to Test cricket after missing Pakistan�s 75-run win in the series opener at Lord�s with a shoulder injury, then had Azhar plumb lbw as the batsman aimed across the line to leave Pakistan 25 for two.They should have been 32 for three when Younis, then on three, edged all-rounder Ben Stokes only for the normally reliable Cook to drop a seemingly routine two-handed slip chance.Earlier, Cook (76 not out) and Joe Root (71 not out) took England to 173 for one in their second innings before the skipper declared.England, already with a huge lead of 489 runs, resumed on 98 for one after Cook had decided against enforcing the follow-on on Sunday.Cook, who scored 105 in England�s mammoth first innings 589 for eight declared, was 49 not out and vice-captain Root, whose Test-best 254 was the cornerstone of that total, 23 not out.Left-handed opener Cook cover-drove Rahat Ali for the seventh boundary of his innings to complete a 55-ball fifty. It was his fastest in Tests, surpassing a 56-ball effort against India in Mohali in 2008.Root struck three legside fours in four balls from left-arm quick Rahat before another boundary, a slog-sweep off leg-spinner Yasir Shah, took him to a 38-ball fifty.Root�s 10th four, a reverse sweep off Azhar, saw England�s second-wicket duo complete a century partnership. The stand was worth 105 in 85 balls when Cook called a halt after he and Root had added 75 runs in just nine overs on Monday.Shah, who took 10 wickets at Lord�s, finished with second-innings figures of none for 53 in nine overs following his first-innings return of one for 213 in 56 overs.<br/> That gave him an expensive match haul of one for 266.
 Australian captain Steve Smith named spin twins Nathan Lyon and Steve O�Keefe in his line-up Monday for the series opener against Sri Lanka as the newly-crowned kings of Test cricket look to cement their supremacy.On the day that Australia were presented with the mace as the world number one side, Smith took the unusual move of naming his starting XI a day before the start of the first Test in Pallekele, near Kandy.Australia�s rise up the rankings has been based in large part on the performance of their fast bowlers such as Mitchell Starc and Josh Hazlewood and they rarely field more than one spinner.But after taking 10 wickets in a warm-up last week, O�Keefe has been picked to play only his third Test alongside the more experienced Nathan Lyon -- his close friend and Sheffield Shield teammate."Both our spinners bowled well in the practice game. They have played lot of games for New South Wales and they are close friends. It�s going to be exciting," Smith told reporters in Pallekele, on the outskirts of Kandy.Australia have hired local spin legend Muttiah Muralitharan as a consultant for the series, well aware of Sri Lanka�s reputation for producing turning pitches.Smith said that cracks had already appeared on the Pallekele strip which should also benefit Sri Lanka�s premier spinner Rangana Herath."The wicket will take spin for sure here. Not sure about the first innings, but it looks very dry and lots of cracks on it. It certainly will help spin bowlers," Smith added."They (Sri Lanka) have some quality spinners in their rank led by Rangana Herath. He has done really well in these conditions. The batters need to have some good plans against him at what he is going to bring at us."Smith confirmed that vice-captain David Warner will play after being sidelined for six weeks with a broken left index finger.Mathews held back from naming his starting XI and was instead cursing a new round of injury woes to an already depleted squad.Fast bowler Suranga Lakmal complained of a stiff hamstring after training on Sunday before the uncapped Dhananjaya de Silva hurt his finger during fielding drills, Mathews revealed.Australia XI: Steve Smith (captain), David Warner, Joe Burns, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Mitchell Marsh, Peter Nevill, Steve O�Keeffe, Mitchell Starc, Adam VogesSri Lanka squad: Angelo Mathews (captain), Dinesh Chandimal, Dimuth Karunaratne, Kaushal Silva, Kusal Janith Perera, Kusal Mendis, Dhananjaya de Silva, Roshen Silva, Nuwan Pradeep, Vishwa Fernando, Asitha Fernando, Rangana Herath, Dilruwan Perera, Lakshan Sandakan, Suranga Lakmal����
 World number one Novak Djokovic is looking forward to playing on his favoured hardcourt surface at the Rogers Cup in Toronto, but the Serb urged caution as he returns to action for the first time since his shock Wimbledon exit.</strongThe 29-year-old, who was aiming to become the first man since Rod Laver in 1969 to win all four grand slams in a year, suffered a third-round loss to American Sam Querrey at Wimbledon.However, Djokovic, who has won three of the five Masters tournaments this season, is keeping his expectations in check for the Rogers Cup, which he has won three times."I don't expect anything. I just try to get myself ready for performing as best as I can," Djokovic told the ATP website."I had a bit more time because of the early loss at Wimbledon to spend some quality time with family, regroup a little bit and start training on hard court, which I enjoy the most. So I look forward to it."I have a wonderful history in the Rogers Cup in Toronto and Montreal. That's what goes through my mind right now. Just enjoy, play well, play singles and doubles and get as many hours in as possible."The 12-times grand slam champion, who has a first-round bye, could meet Wimbledon finalist and home favourite Milos Raonic in the semi-finals."He's definitely one of the players that we're going to see a lot of in future. He works very hard. He's got John McEnroe in his team so he's really striving to get better on and off the court," Djokovic said.Djokovic brushed aside the Wimbledon loss, which ended his grand slam winning streak at 30."Everything happens for a reason so obviously I didn't enjoy losing the first week of a grand slam," he said."On the other hand, the next day it was already behind me."
 Pakistan were set a mammoth target of 565 to win the second Test after England declared their second innings on 173 for one on Monday�s fourth day at Old Trafford.</strongAlastair Cook, the England captain, was 76 not out, and vice-captain Joe Root 71 not out.It was the second time this match that England had gorged themselves on Pakistan�s attack, with opener Cook making 105 and Root a Test-best 254 in England�s first-innings 589 for eight declared.The second innings saw England�s two most experienced batsmen put on 105 in 85 balls for the second wicket, with the duo adding 75 runs in just nine overs on Monday before Cook declared.Pakistan will now need to rewrite the record books if they are to achieve a remarkable win -- the most any side have made in the fourth innings to win a Test is the West Indies� 418 for seven against Australia at St John�s in May 2003.There are a minimum of 185 overs left in this match.Pakistan lead the four-match series 1-0 after their 75-run win in the first Test at Lord�s.
strong>Striker Divock Origi does not fear competition for places at Liverpool and the striker said he is ready to fight for a first team spot after the club brought in a host of players during the close season.</strongOrigi, who initially struggled to break into the starting line-up, impressed last season and scoring 10 goals in 33 appearances.But his form was disrupted by an ankle injury he sustained in April."We are at a big club and that is one of the challenges of being at a big club -- that is what pushes you to go higher," the 21-year-old told the club's website.Manager Juergen Klopp has added seven players, including midfielders Marko Grujic and Giorginio Wijnaldum, and forward Sadio Mane, to his squad."We have to push each other and support each other so we can achieve that. It's the reason I came to Liverpool, to have challenges," Origi added."We all have qualities but we have to unite together and show we can do great things together."Liverpool, who finished eighth in the Premier League last season, will start their new campaign with a trip to Arsenal on August 13.
 Sri Lanka�s cricket board lodged a complaint Monday with the visiting Australians after their bowling consultant and local legend Muttiah Muralitharan was involved in a bust-up with his former colleagues.</strongOn the eve of the first of three Tests, board president Thilanga Sumathipala accused Muralitharan of insulting Sri Lanka team manager Charith Senanayake in a row over the Australians� use of a practice pitch in Colombo."Muralitharan�s behaviour is unacceptable and we have brought this to the notice of the Australian team management," Sumathipala told reporters."It should not have happened. We are very disappointed."Sumathipala said Muralitharan had bullied groundsmen at the Pallekele Stadium on Saturday into allowing the Australians to practise there when it was theoretically off limits to both teams."He rode roughshod over the groundsmen and got his (Australian) players to practise in violation of the time stipulations," Sumathipala said. "He later confronted our team manager (Senanayake) and abused him."Muralitharan is a national hero in Sri Lanka after taking 800 Test wickets, still a world record some six years after his retirement.But his decision to lend his local expertise to the tourists has raised eyebrows, not least because the 44-year-old was once labelled a "chucker" by Australia�s then-prime minister John Howard.Stung by criticism on social media, Muralitharan recently posted a video on YouTube in which he defended his decision to help the Australians as a freelance bowling consultant."I am doing a professional job," said the 44-year-old former spinner."I am not a traitor. Sri Lanka has not tried to make use of my services, so I am helping the Australians who value my contributions."Senanayake refused to comment but a source close to the team said the manager and Muralitharan had exchanged words on Saturday at Pallekele stadium, on the outskirts of Kandy, which is hosting the first Test.Sri Lanka cricket chief Sumathipala said it was ironic that Muralitharan was coaching a team from Australia given his history."Professionally it is okay for Murali to coach any foreign team, but the irony is that he is supporting Australia which tried to get him out of cricket," Sumathipala said."He is creating long-term damage for himself among his fans."
 India need to dominate test matches and players cannot be content with just looking to improve, captain Virat Kohli said after the tourists thrashed West Indies by an innings and 92 runs in the first test in Antigua on Saturday.</strongThe margin of the victory, secured within four days, was India's largest outside Asia and gave the side a 1-0 lead in the four-match series."We are not at a stage now where we need to come and improve," Kohli, who scored his first double hundred during the test, told reporters."We should be ready enough in international cricket to start dominating test matches and win those crucial situations and sessions. That's how we become a better team."If you think we are going to keep learning every series, learning every game, we will never get that hunger and that mindset to win games from difficult situations."We need to challenge ourselves a little bit, which this team has been willing to do and which is a wonderful sign. The way we finished the test, it all panned out pretty nicely."While Kohli has led India to a test series win in Sri Lanka and beat South Africa 3-0 at home, their record outside South Asia in the longest format has been poor.They have lost series in South Africa, New Zealand, England and Australia on tours since late 2013, something new coach Anil Kumble has said he wants to rectify.The 27-year-old Kohli replaced Mahendra Singh Dhoni as India's test captain after the wicketkeeper-batsman retired from that form of cricket during the tour of Australia in late 2014.Kohli wants his side, who are currently second behind Australia on the International Cricket Council test rankings, to target consistency as well as wins."If we have a chance to win 4-0, then why not," Kohli said. "We don't need to get complacent. If we end up getting a 2-0 lead, it's not that we would be playing for a draw in the next two tests."As we know, if we learn to win test matches, then we'll learn how to win tests everywhere."We will learn how to play in different situations and we will know exactly what to do when a certain situation is going a certain way."
 Zimbabwe strike bowler Tendai Chatara has been ruled out of the test series against New Zealand after hurting his ankle, Zimbabwe Cricket announced on Monday.</strongThe 25-year-old was expected to spearhead the home side's attack in two tests in Bulawayo, starting on Thursday.He injured his ankle bowling for Zimbabwe A on the first day of their three-day match against the tourists in Harare which finished in an easy 259-run win for New Zealand on Sunday.Chatara, who fractured his leg playing a casual game of soccer last year, will be replaced in the Zimbabwe squad by Michael Chinouya, 30, who has only two one-day internationals to his name.Chatara is the second Zimbabwe seamer to be ruled out after Tinashe Panyangara also failed to recover from a back problem in time for the series.Zimbabwe will be playing their first test series in almost 20 months. Both tests are at the Queens Sports Club. The second is from August 6-10.
 India's Narsingh Yadav has claimed his supplements and water had been "sabotaged" after the wrestler due to represent his country in the 74kg category at next month's Rio Games tested positive for a banned steroid.</strongThe 26-year-old's samples from an out-of-competition test returned positive and the wrestler attended a hearing to present his case before an anti-doping disciplinary panel on Saturday.The panel has asked the national anti-doping agency (NADA) for further details on the case and is expected to return a verdict within a week.Yadav, who secured India a berth at the Games by winning a bronze medal at last year's world championships in Las Vegas, said he had undergone around 25-30 drugs tests in his 15-year career as a professional freestyle wrestler."I have come out clean every time and never have any of my samples returned positive results," he said in a statement."I have undergone three tests in the last month and a half."I appeared for a dope test on the second of June before leaving for a training camp in Bulgaria. I was again tested on my return on the 25th of June and once again on the fifth of July."Yadav's Olympic berth was put in jeopardy when Sushil Kumar, who won bronze in the 66kg category in Beijing in 2008 and silver in London, moved up a weight and sought a court order for a bout between the pair to determine who should go to Rio.Last month, the Delhi High Court ruled against Kumar, the only Indian athlete to win two individual Olympic medals, clearing the way for Yadav to compete in Rio.The qualification row divided opinion in the country and Yadav was provided police security, a rare measure for an Indian athlete, at the Sports Authority of India training centre at Sonepat due to possible threats to his life.The Wrestling Federation of India has also not dismissed the possibility of the failed test coming as a result of subversion, according to local media."I believe that there is foul play involved in this entire episode," said Yadav, who won gold at the 2010 Commonwealth Games in Delhi. "Someone has sabotaged my food supplements and water intake."I am a responsible athlete with an understanding of the country's expectations and hopes on me. I would never dream of betraying that hope."NADA Director General Navin Agarwal confirmed that the wrestler's room mate and training partner, Sandeep Yadav, has also tested positive for the same substance, which Indian media has reported to be the banned anabolic steroid methandienone."The foul play allegations are out of our jurisdiction," Agarwal told Reuters by telephone. "It's for the local police to investigate."
strong>Top-seeded Serena Williams has withdrawn from the Rogers Cup due to shoulder inflammation.</strongWilliams, a three-time champion, made the announcement on Sunday. She was to receive a first-round bye in the tourney that begins Monday in Montreal.Her withdrawal comes less than two weeks before the start of the Olympic tennis, where she is scheduled to represent the United States."Due to inflammation in my shoulder, I unfortunately must withdraw from the Rogers Cup," Williams said in a statement."I was looking forward to competing in Montreal and I look forward to returning soon. "Williams recently won her seventh career Wimbledon crown to tie Steffi Graf�s record of 22 Grand Slam titles."Because this is an Olympic year, the players have very full schedules," tournament director Eugene Lapierre said in a statement."Sometimes your body needs rest. We hope that Serena will recover quickly and wish her much success for the rest of the season.
 India crushed the West Indies by an innings and 92 runs in the first Test at the Sir Vivian Richards Stadium on Sunday.</strongWest Indies, following on, were bowled out for 231 in their second innings in the final session of the fourth day with spinner Ravichandran Ashwin taking 7-83.
 India off-spinner Ravichandran Ashwin dethroned Pakistan's Yasir Shah to top the International Cricket Council's (ICC) test rankings after his match-winning display against West Indies in the first test.</strongThe 29-year-old picked up figures of 7-83 in the second innings as the visitors cruised to an innings-and-92 runs victory inside four days in Antigua.Leg spinner Yasir, who became the first Pakistani bowler in 20 years to top the test rankings, dropped to fifth after managing just one wicket in the second test defeat against England at Old Trafford.Ashwin, who also tops the all-rounders ranking, is followed by England's James Anderson and Stuart Broad, who both moved up one place respectively.Joe Root's magnificent 254 in the 330-run victory against Pakistan has helped him move into the second place in the test rankings for batsmen, behind Australian Steve Smith, who retains top spot.England's test skipper Alastair Cook, also moved back into the top 10 at ninth place on the back of a century and an unbeaten 76 in the second test.
 Rain washed out the final session of play on the opening day of the first Test between Sri Lanka and Australia on Tuesday, with the visitors 66 for two at stumps.Usman Khawaja and Steve Smith stitched together an unbeaten 59-run third-wicket partnership after the visitors lost openers David Warner (0) and Joe Burns (3) early in response to Sri Lanka�s 117 all out.Sri Lanka�s Nuwan Pradeep and Rangana Herath shared one wicket each after their batsmen lost the plot to Josh Hazlewood and Nathan Lyon, who picked up three wickets each.The visitors trail Sri Lanka by 51 runs in the first innings.Brief scores:Sri Lanka: 117 in 34.2 overs (Dhananjaya de Silva 24; Josh Hazlewood 3-21, Nathan Lyon 3-12)Australia: �66-2 in 20 overs (Usman Khawaja 25 not out, Steven Smith 28 not out; Nuwan Pradeep 1-3, Rangana Herath 1-15)�
 Indian shot putter Inderjeet Singh said on Tuesday he has been notified by the national anti-doping agency (NADA) that he has returned a positive test for banned substances in his A sample.</strongInderjeet, who won the gold medal at the Asian Athletics Championships in 2015, told local television he had been informed of the failed test late on Monday and that all his earlier tests had been negative.The shot putter, who won a bronze in the 2014 Asian Games, is the second Rio-bound athlete from the country to fail a doping test after wrestler Narsingh Yadav tested positive last week for a banned steroid.Yadav has claimed his supplements and water had been 'sabotaged'.Inderjeet also alleged foul play was behind the positive test and said he was being punished for his outspoken nature."My sample has been tampered with," he told NDTV."This will be checked by the doctors though. I don't want to comment on it but whoever has tried to raise their voice in this country, they are forced to shut up."The positive test is the latest setback for Inderjeet, whose efforts to have his coach included in the delegation for Rio have been rebuffed by the country's athletics federation due to the limited number of places available under the quota.Navin Agarwal, the director general of NADA, told Reuters an athlete's A sample had tested positive."The athlete has been notified and given the right to get his B Sample tested," he said, without identifying the athlete.
 Australia were 66 for two in response to Sri Lanka�s 117 all out at tea on the opening day of the first Test in Pallekele on Tuesday.</strongUsman Khawaja and Steve Smith stitched together an unbeaten 59-run third-wicket partnership after the visitors lost openers David Warner (0) and Joe Burns (3) early.Sri Lanka�s Nuwan Pradeep and Rangana Herath shared one wicket each after their batsmen lost the plot to Australian bowlers Josh Hazlewood and Nathan Lyon who picked up three wickets each.The visitors trail Sri Lanka by 51 runs in the first innings.Brief Scores:Australia 1st innings (Usman Khawaja 25 not out, Steven Smith 28 not out; Nuwan Pradeep 1-3, Rangana Herath 1-15)Sri Lanka 117 all out in 34.2 overs (Dhananjaya de Silva 24; Josh Hazlewood 3-21, Nathan Lyon 3-12)
 Australia�s Josh Hazlewood and Nathan Lyon led an inspired bowling attack to help skittle out Sri Lanka for 117 on the opening day of the first Test in Pallekele on Tuesday.</strongFast bowler Hazlewood and off-spinner Lyon bagged three wickets each to make Sri Lanka�s batting look less than ordinary after captain Angelo Mathews had elected to bat first after winning the toss.Debutant Dhanajaya de Silva top-scored with 24 for the hosts, while Mitchell Starc and left-arm spinner Steve O�Keefe claimed two wickets each for Australia.Sri Lanka had reached lunch at 84 for five, but could only survive 6.2 overs in the second session to hand the advantage to Steven Smith�s Australia.Brief Scores:Sri Lanka 117 all out in 34.2 overs (Dhananjaya de Silva 24, Josh Hazlewood 3-21, Nathan Lyon 3-12).
 Pakistan off-spin great Saqlain Mushtaq is set for another spell as an England coaching consultant, highlighting how fluid national allegiances can become when a cricketer�s playing days are over.Saqlain was brought in by England ahead of the recent second Test against Pakistan at Old Trafford.In the build-up he found himself working with both off-spinner Moeen Ali and leg-break bowler Adil Rashid, although only Ali of the pair made it into the XI that won by 330 runs with more than a day to spare to level the four-match series at 1-1.Saqlain�s former Pakistan team-mate Mushtaq Ahmed, is carrying out a similar role with the tourists in more of a permanent capacity.Prior to taking up his Pakistan role, former leg-spinner Mushtaq was England�s spin-bowling coach.Off-spin legend Muttiah Muralitharan, Test cricket�s all-time leading wicket-taker, has come under fire for working with Australia in their ongoing series in his native Sri Lanka.By contrast the atmosphere between English and Pakistani officials has been far more cordial.That�s partly because, as this is Pakistan�s first tour of England since their infamous 2010 spot-fixing debacle at Lord�s, both sides are desperate to let their cricket do the talking.It is also a reflection of their multi-national backroom staffs, with England head coach Trevor Bayliss an Australian and his Pakistan counterpart, Mickey Arthur, a South African.Added to all that, Pakistan fielding coach Steve Rixon, the former Australia wicket-keeper, and Bayliss -- who made his name internationally as Sri Lanka coach -- were once team-mates in the same New South Wales side.�
 New captain Kane Williamson has promised that New Zealand will continue their positive approach to Test cricket under his leadership.But he warned that the brand may look a little different when they face Zimbabwe in the first of two Test matches at Queens Sports Club.Williamson will become New Zealand�s 29th Test captain when he leads the Black Caps out on Thursday, taking over from Brendon McCullum following his retirement from the international game in February.McCullum was credited with turning around New Zealand�s fortunes and image over his last three years as captain, when he led them to the final of the 50-over World Cup and adopted a popular, attacking outlook.Under his watch, New Zealand drew just three of their last 21 Test matches, and one of their last 12.Williamson promised to carry on that legacy, but said that the nature of the Queens pitch may force him to adopt alternative fields to what fans are used to seeing from the Black Caps."We�re certainly going to play in a way that gives us the best chance to win, which is what we do every time we go out in a Test match," he said on Wednesday."How �attacking� looks on some of these surfaces may be different, it may not be four slips and two gullies because there might be no point in doing that."You don�t tend to get the pace and bounce that you do in other parts of the world which can help bowlers take wickets, so you have to try and skin it another way."Zimbabwe have not played a Test match since losing a series 3-0 to Bangladesh in November 2014, but New Zealand have not forgotten the last time that they met in Bulawayo, when the hosts threatened to chase down a target of 366 and lost by just 34 runs.As such, New Zealand will not be taking the home side lightly."They know these conditions better than anyone so we are expecting a tough challenge," said Williamson."That last Test match could have gone either way up until the last few overs of the last day - it was an exciting game and no doubt it will be another hard-fought match this time around."
 England all-rounder Ben Stokes has been ruled of next week�s third Test against Pakistan at Edgbaston with a torn right calf, the England and Wales Cricket Board said on Wednesday.Durham paceman Stokes suffered the injury midway through bowling his sixth over on the fourth day of the second Test at Old Trafford on Monday, when England completed a 330-run win to level the four-match series at 1-1.A scan revealed the extent of Stokes�s injury and the 25-year-old�s fitness will be reviewed by the England medical team next week, with the squad assembling in Birmingham on Monday.In addition to the remaining 10 fit players who featured at Old Trafford, England have selected Nottinghamshire paceman Jake Ball, who made his Test debut in a 75-run defeat by Pakistan in the series opener at Lord�s.Also in a 13-man squad is Middlesex fast bowler Steven Finn, who also played in that match, and Yorkshire leg-spinner Adil Rashid.The third Test starts on Wednesday, August 3.England third Test squad: Alastair Cook (Essex, captain), Alex Hale �(Nottinghamshire), Joe Root (Yorkshire), James Vince (Hampshire), Gary Ballance (Yorkshire), Chris Woakes (Warwickshire), Jonny Bairstow (Yorkshire, wkt), Moeen Ali (Worcestershire), Stuart Broad (Nottinghamshire), James Anderson (Lancashire), Steven Finn (Middlesex), Jake Ball (Nottinghamshire), Adil Rashid (Yorkshire)�
 Australia removed Sri Lankan opener Kusal Perera cheaply after building up an 86-run first innings lead over their hosts as they took firm command Wednesday of a low-scoring Test in Pallekele.Perera fell to the last ball of the day, with the umpires once again forced to call a premature halt to proceedings following a downpour at the picturesque ground on the outskirts of Kandy.Australia were all out for 203 in reply to Sri Lanka�s first innings total of 117, with spinner Lakshan Sandakan taking four wickets on his debut.The early loss of Perera on the second day of the first Test was another bitter blow for the struggling hosts.Perera fell for just four when he was lbw to paceman Mitchell Starc, leaving Sri Lanka wobbling on six for one at close of play.The downpour initially prompted the umpires to call an early tea break, but they were later forced to abandon play early for the second day running.Veteran Sri Lankan left-arm spinner Rangana Herath and the 25-year-old rookie Sandakan had earlier taken four wickets apiece as the Australian batsman also struggled to cope with a turning pitch.Adam Voges top-scored for the Australians with 47, meaning no player from either side managed to score a half-century in the first innings.And with the pitch showing no sign of respite, the Australians� first innings lead could well prove decisive as they try to cement their position as Test cricket�s number one side.The 38-year-old Herath, who has hinted that he may soon retire from Test cricket, was the pick of the bowlers and was unlucky not to record a five-wicket haul.He dismissed both overnight batsmen -- skipper Steve Smith and Usman Khawaja -- in successive overs and had a third wicket in the morning session when wicketkeeper Peter Nevill was caught at mid-on.While Herath was providing captain Angelo Mathews both the attacking and containing options, Sandakan ran through the lower order to finish with four for 58.Seamer Nuwan Pradeep finished with two wickets, including that of the resolute Voges who was brilliantly caught by Kusal Mendis at gully.Voges, who faced 115 deliveries and hit three fours, added 60 for the fifth wicket with Mitchell Marsh, who was among Sandakan�s victims.�
 Real Madrid coach Zinedine Zidane has ended speculation regarding the future of Colombian international James Rodriguez by confirming the 25-year-old winger will remain at the club.</strongReports in England and Spain linked Rodriguez, who joined Real from Monaco shortly after the 2014 World Cup, with a move to the Premier League this summer, with Manchester United among the clubs keen to acquire his services.Speaking ahead of his team's opening pre-season game against Paris Saint-Germain on Thursday at the Ohio Stadium in Columbus, United States, Zidane said: "James is a Real Madrid player."We have a very good squad, we have won with this team and James is just one more in the team. He will remain at Real Madrid."Rodriguez impressed in his debut season at Real, scoring 17 goals and setting up 17 more in 46 appearances, but lost his place in the starting line-up and made just 21 starts in the 2015-16 campaign.Real, who finished runners-up to Barcelona in La Liga last season, have made just one signing so far this summer, with Spanish forward Alvaro Morata returning to the club two years after being sold to Juventus.However, Real are hopeful to acquire another Juventus player, with Zidane revealing that the club are still in the race to sign France international Paul Pogba.The 23-year-old midfielder remains a number one target for top European clubs, including his former team Manchester United, who are, according to Gazzetta dello Sport, prepared to meet Juve's asking price of 120 million euros ($131.95 million).Asked about his compatriot Pogba, Zidane said: "Until August 31 anything can happen but Paul Pogba is not yet a Real Madrid player."Every club is interested in Pogba because he is a great player. More so when you are Real Madrid because you always want the best. But we have to respect the player, he belongs to Juventus."Pogba left United four years ago to join Juve as a free agent and the France international is contracted to the Italian champions until June 2019.
 Sri Lanka conceded an 86-run first innings lead to Australia and were six for one in their second innings when rain forced an early tea break on the second day of the low-scoring first test at Pallekele on Wednesday.</strongThe hosts, bundled out for 117 in the first innings, lost opener Kusal Perera to fast bowler Mitchell Starc after bowling Australia out for 203.Kaushal Silva was batting on two with Sri Lanka still 80 runs behind in the first match of the three-test series.Earlier, the local spin duo of veteran Rangana Herath (4-49) and debutant Lakshan Sandakan (4-58) shared eight wickets between them to deny Australia a bigger first innings total.Resuming on 66-2, Australia lost both the overnight batsmen to Herath who quit limited-overs cricket in April to focus on the longest format of the game.Australia skipper Steve Smith (30) threw his wicket away in the second over of the day, dancing down the track to try and slog the left-arm spinner only to miss the line and be stumped.Herath returned to dismiss Usman Khawaja (26) in his next over, trapping him leg-before with a turning delivery.Adam Voges (47) survived a vociferous leg-before appeal in the very first delivery he faced from Herath but went on to make the highest score so far in what appears to be a bowler-dominated contest.Mitchell Marsh (31) ran hard between wickets and helped himself to five boundaries before becoming left-arm Chinaman bowler Sandakan's maiden test victim.Paceman Nuwan Pradeep, who had dismissed Australia opener David Warner for a duck on Tuesday, claimed the crucial wicket of Voges.
 Sri Lanka spinner Rangana Herath took four wickets to restrict Australia to 146 for six at lunch on Wednesday, with the visitors leading by just 29 runs on day two of the first Test.</strongOvernight batsmen Usman Khawaja (26) and Steve Smith (30) didn�t last long against Herath�s left-arm spin, as Australia faltered after starting the day 66 for two.Adam Voges (41 not out) battled hard to establish a respectable lead for the visitors, with Steve O�Keefe (3 not out) at the other end.Play had started early at Pallekele Stadium after rain had washed off the final session of the opening day after Sri Lanka had been bowled out for 117 inside 35 overs.Brief Scores:Sri Lanka 117 in 34.2 overs (Dhananjaya de Silva 24; Josh Hazlewood 3-21, Nathan Lyon 3-12)Australia 146-6 in 57 overs (Adam Voges 41 not out, Mitchell Marsh 31; Rangana Herath 4-35)
 Jonny Bairstow may be riding the crest of a cricketing wave but England's in-form wicketkeeper-batsman says he is only too well aware of the perils of taking things for granted.</strongThe flame-haired Yorkshireman has certainly been red-hot with the bat in the past year, making three big test hundreds, three half-centuries and six scores in the 40s since replacing Jos Buttler behind the stumps against Australia in July 2015.Bairstow also struck a match-winning 83 not out in a thrilling one-day victory over New Zealand in Durham 13 months ago."I'm happy with the way it's going but at the same time there's a lot of hard work still to be done in all facets of my game," he told Reuters in an interview before teeing off in the British Par-Three Golf Championship pro-am at Nailcote Hall on Tuesday."It can all change very quickly and I'm only too aware of that having gone through some tough patches on my journey," said Bairstow who had an extra spring in his step the day after England beat Pakistan in Manchester to level the four-match test series at 1-1."You've got to keep working hard to keep improving. If you don't then all of a sudden you fall out of the loop -- focus on the next day is an old cliche but it's very true."England completely turned the tables on Pakistan at Old Trafford, handing the touring team a 330-run drubbing after losing the first test at Lord's by 75 runs.Bairstow said the transformation was simply down to the players doing their jobs."We didn't play too well at Lord's and to perform the way we did at Old Trafford was really pleasing," he added."Joe Root played outstandingly well to make 254 and he and Alastair Cook (105) set their stall out to bat a long period of time," said Bairstow of England's huge first innings 589 for eight declared."Then our bowling was really clinical. There wasn't necessarily one thing you can point to, it was about us executing our skills and putting the pressure on Pakistan.strong>SOFT WICKETS</strong"We gave them soft wickets at Lord's and they capitalised on that. If you give people soft wickets they'll take their opportunities."Bairstow has come in for occasional criticism for his glove work and he said that sometimes it is hard to adjust to playing in different formats of the game."I hadn't kept wicket for three weeks before the first test because I had been fielding in the one-day internationals against Sri Lanka so I'm pretty pleased with the way it's going," the 26-year-old explained."It's good to be playing all forms of the game and being able to contribute in different areas. It's part and parcel of being a sportsman but yeah it's quite tough at times."Cook came under attack in some quarters for not enforcing the follow-on when Pakistan were bowled out for 198 in their first innings but Bairstow backed his captain."There were still 200 overs left in the game so do you want to bat on day three when the wicket is good or do you want to bat on day five chasing a tricky 120 when the wicket is turning?" he asked."It was a good decision because we won the game."Bairstow has a healthy batting average of 40.13 from 29 tests and a respectable 31.40 in 17 one-day internationals.The wicketkeeper-batsman is constantly on the road with England and he said that sometimes there were drawbacks to all the globetrotting."There's no point in doing this unless you are going to enjoy it," he added. "If you look at our group of players, everyone has grown up together, been through the system together and we're living in each other's pockets."There's a stupid stat that one of the lads spent 300 nights in a hotel room last year... so if you're not enjoying it, it's going to be a long year."You spend more time with the lads than you do with your families. Getting 15 lads together can be tricky as well, when we go away this winter we've got Bangladesh and India... you try having room service every night?," chuckled Bairstow."It's good to get away from it sometimes... it's great fun to come down to something like this at the par-three championship."
 Roger Federer has pulled out of the Rio Olympics and will miss the rest of the season, including the U.S. Open, because he needs "more extensive rehabilitation" to prolong his career after knee surgery earlier this year.</strongLast month he described how "one stupid move" sparked a chain of bad luck - which resulted in left knee surgery in February and sitting out the French Open with a back injury - culminating in Tuesday's decision to end his wretched season."I�m extremely disappointed to announce that I will not be able to represent Switzerland at the Olympic Games in Rio and that I will also miss the remainder of the season," the 17-times grand slam champion said on his Facebook page."Considering all options after consulting with my doctors and my team, I have made the very difficult decision to call an end to my 2016 season as I need more extensive rehabilitation following my knee surgery earlier this year."The doctors advised that if I want to play on the ATP World Tour injury free for another few years, as I intend to do, I must give both my knee and body the proper time to fully recover. It is tough to miss the rest of the year."For much of his career, the former world number one had been blessed with a body that seemed bullet-proof against the aches, pains and injuries suffered by most top athletes.But one false move by the man known for his gliding footwork, while running a bath for his twin daughters following his Australian Open semi-final loss, means he would have gone a whole season without a title for the first time since 2000.Now aged 34, Tuesday's announcement also probably ended the 2012 silver medallist's hopes of ever winning an Olympic singles title."The silver lining is that this experience has made me realise how lucky I have been throughout my career with very few injuries," said Federer, who won an Olympic doubles gold with Stan Wawrinka in 2008."The love I have for tennis, the competition, tournaments and... the fans remains intact. I am as motivated as ever and plan to put all my energy towards coming back strong, healthy and in shape to play attacking tennis in 2017."strong>KNEE TROUBLE</strongUntil May this year, Federer had appeared in 65 successive grand slam tournaments and the last time he was absent from one of the four majors was at the 1999 U.S. Open.When he reached the last four at Wimbledon, which included winning a five-set thriller in the quarter-finals against Marin Cilic, it appeared as if Federer's injury woes were finally behind him and his absence from the French Open was a one off.However, he was clearly rattled when he landed heavily on his left knee after rolling his ankle during the fifth set of his semi-final defeat by Candaian Milos Raonic at Wimbledon.Although Federer, who was left sprawled face down on the turf following the fall, got up to complete the match, he was worried about the long term effects on his knee."I just hope with the slip I had in the fifth, I'm going to be fine... I hope I didn't hurt myself," the world number three said at the time."Is it (the pain) a three-day thing, is it a 24-hour thing or is it more? I don't know at this point."With the body that's been playing up this year, I just hope I'm going to be fine."It seems his worst fears were realised on Tuesday as he called time on his season after appearing in only seven tournaments and with a 21-7 win-loss record.
 The first ever Caribbean Premier League games in Florida could be the launchpad for the United States to have its own T20 cricket franchise, organisers of the tournament said.</strongThe six games being held at Lauderhill in South Florida from Thursday to Sunday are the first time that the CPL has branched out from its island bases to the United States.The games will be played at the Central Broward Regional Park, which has the only purpose built cricket stadium in the United States and which held the first full international matches on American soil, two Twenty20 games between New Zealand and Sri Lanka in 2010.Lauderhill is an area with a large population of people of Jamaican heritage while South Florida itself has communities from across the cricket-loving Caribbean region."There are lots of hoops you have to jump through but if you look at the way America embraces its sport, having a local franchise here makes a lot of sense," CPL�s chief operating officer Pete Russell said."It ties you into the local community and makes it a lot more relevant. That would make a lot of sense. There is no issue with putting it into our schedule. But its one step at a time we have to see how these games go, but so far, so good," he said.<br/>Some prospective investors in the league have already shown interest in a US franchise, said Russell."A lot of potential owners have talked to us about it (but) we are mindful of the politics involved here and also in terms of cricket generally. We wouldn�t be so presumptuous as to say �We are having a franchise here� - there are a lot of things you have to consider before you do that. We have had preliminary conversations but no more than saying �Wouldn�t it be a good idea in the future�," he added./><strong>International dispute</strong> The CPL features franchises from Jamaica, Barbados, Guyana, Trinidad and Tobago, St.Lucia and St.Kitts and Nevis and includes international players as well as those drawn from the T20 World Cup winning West Indies team.The progress of cricket in the US has been hampered by administrative problems with the USA Cricket Association (USACA) having been suspended by the International Cricket Council (ICC) in December.The ICC is currently running affairs in the US directly. There have been previous attempts to popularise the sport through games involving retired international stars, playing at baseball venues, but Russell believes the demographics mean there is no real need to convert Americans to the sport."As well as the Caribbean diaspora, you have the Asian population here who are cricket-starved," he added.While no plans for the future have been announced it is unlikely that this week�s games, featuring all six franchises, will be the last time that the CPL features at Lauderhill."We have invested well over a million dollars in coming to Florida. The stadium is great but to bring it up to international standard with the screens, the lights and the hospitality areas, we have had to invest," said CPL chief executive Damien O�Donohoe."We are bringing that Caribbean flavour and feel and it is going to be a very special atmosphere come Saturday and Sunday," he added.Lauderhill mayor Richard Kaplan said he is delighted that the games are likely to be well attended with a large contingent of fans travelling down from New York as well as from across the Sunshine State."I do see the possibility of a franchise, I do see the possibility of numerous long-term relationships in the development of the sport. But we need to resolve the issues around sanctioning of the games," he said.
 England were waiting to discover on Tuesday if they would be without Ben Stokes for the third Test against Pakistan as coach Trevor Bayliss insisted they could cope with the absence of the key all-rounder.</strongStokes suffered a calf injury while bowling on Monday as England closed in on a mammoth 330-run win in the second Test at Old Trafford to level the four-match series at 1-1.The sight of a grimacing Stokes slowly walking off the field in Manchester suggested that, at the very least, the Durham star would struggle to be fit for the third Test at Birmingham�s Edgbaston ground which gets underway a week on Wednesday.Doing without Stokes, however, is something England have got used to in a season where he has started only two out of five Tests and has not finished one.A left knee injury cut short Stokes�s participation in the first Test against Sri Lanka in May and left the 25-year-old needing surgery which saw him miss the final two Tests of that series, as well as the subsequent one-dayers and lone Twenty20.But in Stokes�s absence, Warwickshire�s Chris Woakes -- also a pace-bowling all-rounder -- seized the chance to revive an international career that appeared to have come to a halt, producing an impressive series of performances with both bat and ball.Nevertheless, England coach Trevor Bayliss remains well aware of Stokes�s value to the team.<br/>"If he does miss out, it will give someone else an opportunity," said Bayliss at Old Trafford following England�s commanding victory at Lancashire�s headquarters."Yes, he�s a big player for us -- he adds a lot of spark to the team. "He bats, bowls and he�s a leader in the field -- so it is a bit of a hole. "But Woakes has done brilliantly so far this season, so we are lucky in that aspect."/>�<strong>No Vince guarantee</strong> />England captain Alastair Cook and Joe Root made more than 500 runs between them in Manchester, with vice-captain Root making a Test-best 254 in a first-innings where his skipper posted a century.As Bayliss pointed out, all teams are reliant on their best batsmen. But, ideally, England would like the two other members of their top four, opener Alex Hales and James Vince, to shoulder a larger share of the burden.Hampshire captain Vince has yet to make a Test fifty in seven innings and was once more caught off an edged drive, for 18, at Old Trafford."I don�t see there�s any reason to panic just at the moment," said Bayliss. "As I said after the last game, though, runs will count.The Australian added: "I�m sure (Vince�s place) will come up for discussion before Edgbaston.<br/>"Yes, I�d like to see people given a little bit more of an extra go. But we�ve never put a quantity on it -- never said �five Tests, six Tests, seven Tests�, or whatever it might be."It will be a little bit of a gut feel... if there�s someone else that warrants a place to replace a player like that."Bayliss said Vince�s offside problems were comparable to batsmen unable to resist hooking.<br/>"We�ve probably all seen it before -- the �happy hooker�, (you tell him to) give the hook shot away."It might get you out a few times, but it scores you a lot of runs. So what do you do?<br/>"His cover-drive is one of his better shots."We�ve spoken about it, just letting a few more balls go and let the bowlers come to him before he plays his favourite shot."It�s obviously only a split-second to make that decision, but he�s fully aware of it."
strong>LONDON; Ireland are set to welcome back Niall O�Brien, Craig Young and Boyd Rankin for their forthcoming one-day international series against Pakistan.</strongThe trio all missed the recent drawn series against Afghanistan but will be available for next month�s two ODIs with Pakistan at Malahide, near Dublin.O�Brien, who struck 72 in Ireland�s 2007 World Cup win over Pakistan, is fit following a calf problem, while Young is back after an elbow injury.Meanwhile Rankin is set to make his return to Irish cricket, having briefly represented England in just one Test, against Australia at Sydney in 2014."It�s great to have an almost full-strength squad to choose from," said Ireland coach John Bracewell on Thursday."The bowling unit performed superbly against Afghanistan with the younger seamers in particular putting their hands up," the former New Zealand off-spinner added."The return of Boyd and Craig adds to that department and gives us plenty of options which is exactly what a coach wants."The return of Niall adds experience to the top order. We tried a few different permutations with the batting order last week -- some of which worked and some which didn�t."Ed Joyce was obviously the stand-out performer in his new role as opener, and it was great to see Gary Wilson return to form."It should be a fantastic series -- there�s a great recent history between the two countries with some great matches over the past decade, and I�m certain it�ll be two tough games when we meet in Dublin next month."
 Australia�s Nathan Lyon on Thursday became the country�s first off-spinner to bag 200 Test wickets, during his team�s first Test against Sri Lanka in Pallekele.</strongLyon claimed Sri Lanka�s Dhanajay de Silva, who was caught at midoff, to reach the milestone in the second session of the third day�s play, triggering celebrations in the Aussie camp.Lyon, who had already passed former Australian off-spinner Hugh Trumble�s tally of 141 wickets, has now picked up five wickets in the game which looks evenly balanced.Lyon, playing in his 55th Test, made his debut in 2011 in Sri Lanka�s Galle, the venue for the next match in the series.
 Kusal Mendis struck his maiden test century in a match in which no other batsman has managed a fifty to power Sri Lanka to 253 for five at tea on day three of the first test against Australia on Thursday.</strongThe 21-year-old remained unbeaten on 157 -- 40 runs more than what his team managed in the first innings -- after forging the match's first century-plus partnership with Dinesh Chandimal (42) to help the hosts take a handy 167-run lead with five wickets in hand.Dhananjaya de Silva was batting on 24 as Sri Lanka erased the 86-run first innings deficit in the morning before dominating the post-lunch session, adding 137 runs at a run rate of over four for the loss of Chandimal's wicket.Mendis brought up his maiden test century in style, slog-sweeping spinner Steve O'Keefe over mid-wicket for a six, and his blooming sixth wicket partnership with de Silva is already worth 50.The visitors' woes were compounded when spinner O'Keefe hobbled off the ground with Cricket Australia later confirming he has a "right hamstring issue" in a tweet.Earlier, resuming on six for one, Sri Lanka received an early jolt with Mitchell Starch trapping Dimuth Karunaratne leg before for the second time in the match with the third delivery of the day.O'Keefe dismissed Kaushal and spin partner Nathan Lyon sent back home captain Angelo Mathews (nine) to reduce Sri Lanka to 86-4.Mendis found an able ally in Chandimal who got a reprieve on 24 when a diving Starc failed to take a return catch.Mitchell Marsh denied Chandimal his fifty but Mendis batted with consummate ease, sweeping the spinners and cutting the pacemen with equal confidence.
 Mamadou Sakho was sent back from Liverpool's pre-season tour of the United States because of a lack of respect towards rules but the defender's actions were not serious enough to warrant more punishment, manager Jurgen Klopp has said.</strongThe France international, who was recently cleared by UEFA after allegations of a failed drugs test, is currently nursing an Achilles injury and is expected to miss the start of the Premier League season, which begins on Aug. 13.Klopp said Sakho broke rules during the tour."He missed the departure of the plane, he missed a session and then was late for a meal," Klopp told British media."I have to build a group here, I have to start anew, so I thought it maybe made sense that he flew home to Liverpool and after eight days, when we come back, we can talk about it."But it's not that serious. It is how I said, we have some rules and we have to respect them. If somebody doesn't respect it, or somebody gives me the feeling he is not respecting it, then I have to react, that's all."Klopp said there was no falling out with Sakho and it was unlikely the club will fine the 26-yaer-old."We had no argument. I spoke. You cannot argue when only one person is speaking, that's all," the former Borussia Dortmund manager said."Always it is the same with every group. I don't like fining. Sometimes it's funny, when the fine is nominal.�Come on, pay for it, that's nice. But mistakes, fining never helps."Liverpool, who finished eighth in the league last season, will start their campaign with a trip to Arsenal on Aug. 13.
 Novak Djokovic was given a scare in his North American hardcourt season opener but managed to prevail with a 7-5 7-6(3) victory over Luxembourg's Gilles Mueller on Wednesday to reach the third round of the Rogers Cup.</strongDjokovic, playing his first match since his shock third-round Wimbledon loss to American Sam Querrey, fell behind 3-1 in the tie-break before switching gears and winning the next six points to seal the win in one hour, 43 minutes."It's tough playing the first hardcourt match since March. It was hot and that made the ball move very fast," said Djokovic. "It was hard to control, it was not easy to play. But I managed to stay tough."The Serbian world number one, a three-times winner of the Canadian Masters event, will next play Czech qualifier Radek Stepanek, a 7-6(5) 6-4 winner over Canadian wildcard Peter Polansky.Querrey, whose Wimbledon run came to an end with a quarter-finals loss to eventual runner-up Milos Raonic, could not pen a similar script as he retired from his second-round clash with Belgian seventh seed David Goffin while trailing 6-4 2-1.Japanese third seed Kei Nishikori beat American qualifier Dennis Novikov 6-4 7-5, ninth seed John Isner fell 7-6(3) 6-7(4) 6-4 to American Ryan Harrison and Canadian fourth seed Raonic beat Taiwan's Lu Yen-hsun 6-3 6-3.For Raonic, who grew up in a Toronto suburb, the match was his first since losing the Wimbledon final to Britain's Andy Murray and he soaked up the warm reception from fans."I don't get to play here in Toronto very much," Raonic said. "I can't wait to come back out here tomorrow."
 A dominant stand between centurion Tom Latham and captain Kane Williamson carried New Zealand to a commanding first-innings lead on day two of the first Test against Zimbabwe at Queens Sports Club.Latham registered his fourth Test century while Williamson made 91 as New Zealand moved to 315 for four at the close of play, giving them a lead of 151 runs.The pair added 156 for the second wicket, but were eventually parted when Latham chased a wide delivery from Hamilton Masakadza and was caught behind for 105.Williamson then fell to the bowling of legspinner Graeme Cremer, before Donald Tiripano used the second new ball to get rid of Henry Nicholls.Ross Taylor and nightwatchman Ish Sodhi were the not-out batsmen at the close, on 38 and five respectively.
 Unbeaten half-centuries from Tom Latham and Kane Williamson saw New Zealand move effortlessly into a first-innings lead on day two of the first Test against Zimbabwe at Queens Sports Club on Friday.Latham moved to within two runs of a fourth Test century, while Williamson was unbeaten on 61 as New Zealand reached tea on 214 for one in reply to Zimbabwe�s 164 all out.The Black Caps started the day on 32 without loss, but saw Martin Guptill depart for 40 during the morning session when he reached for a delivery from Chamu Chibhabha and edged low to gully.Latham and Williamson spent a short period before the lunch interval consolidating, but then increased the scoring rate after the break, adding 112 runs in the second session.Legspinner Graeme Cremer was the only bowler to trouble the pair in their unbroken stand of 135, as he found turn and bounce to occasionally beat the edge of the bat.Left-arm paceman Neil Wagner was the standout performer on day one, when his career-best figures of 6 for 41 helped to bowl Zimbabwe out cheaply on a placid surface.
 Rain and bad light forced umpires to call another early end to play in the first Test between Sri Lanka and Australia at Pallekele on Friday, with the visitors precariously placed at 83 for three in their 268-run chase.Australia require another 185 runs for victory to take the lead in the three-match series after play could not be resumed after tea on day four in a match that has already been badly hit by rain.Lanka�s frontline spinners, Rangana Herath, Dilruwan Perea and Lakshan Sandakan bagged a wicket each to put the Aussies in trouble before skipper Steven Smith (26 not out) steadied the ship.A superb maiden century by Kusal Mendis (176) brought Sri Lanka back into the game after the hosts lagged behind the number one Test side for the first three days.Sri Lanka, starting Friday on 282 for six, managed 353 in their second innings to turn things in their favour against firm favourites Australia.Brief Scores:Sri Lanka 117 and 353 all out in 93.4 overs (Kusal Mendis 176, Dinesh Chandimal 42; Mitchell Starc 4-84)Australia 203 and 83/3 in 27 overs (Steven Smith 26 not out, Adam Voges 9 not out; Rangana Herath 1-35, Lakshan Sandakan 1-13)�
strong>German midfielder Bastian Schweinsteiger has retired from international football, he announced on Friday, saying he was disappointed to have not finished his career with a win at Euro 2016 in France.</strong"It wasn't to be and I have to accept it," he said in a statement on his Twitter feed."The historic and emotional high was winning the World Cup in 2014," added the Manchester United player who had 13 seasons with Bundesliga champions Bayern Munich.
 Australia were set a target of 268 to win the rain-hit first Test after bowling out Sri Lanka for 353 in their second innings on the fourth day in Pallekele Friday.</strongSri Lanka, 282 for six overnight, lost top run-scorer Kusal Mendis (176) in the morning session, which lasted for just 45 deliveries due to rain and bad light.Number nine batsman Rangana Herath then offered some good resistance with his 34-ball 35, including six boundaries, to frustrate the visiting bowling attack in a game which looks evenly balanced.Australian pace spearhead Mitchell Starc, who took the prized wicket of Mendis, led the charge with four wickets as new ball partner Josh Hazlewood and off-spinner Nathan Lyon bagged two apiece.Brief Scores:Sri Lanka 117 and 353 all out in 93.4 overs (Kusal Mendis 176, Dinesh Chandimal 42; Mitchell Starc 4-84)Australia 203 all out in 79.2 overs (Adam Voges 47; Rangana Herath 4-49, Lakshan Sandakan 4-58)
 Sri Lanka were 314 for seven against Australia after umpires called an early lunch on a rain-interrupted fourth day of the first Test in Pallekele Friday.</strongOnly 45 deliveries were bowled during the morning session which was late in starting due to rain and bad light.Australian pace spearhead Mitchell Starc managed to pick up the prized wicket of Kusal Mendis (176) who helped the hosts stretch their second innings lead to 238.The tourists opted for the second new ball in the morning session and Mendis, who notched up his maiden Test ton, played away from his body to a full length delivery to be caught behind.It was Starc�s third wicket of the innings while Nathan Lyon has two.Australia�s bowling attack was dealt a blow on Thursday when spinner Steve O�Keefe injured his hamstring, ruling him out of the remainder of the Test series.Brief Scores:Sri Lanka 117 and 314-7 in 87.3 overs (Kusal Mendis 176, Dinesh Chandimal 42; Mitchell Starc 3-62, Nathan Lyon 2-98)Australia 203 all out in 79.2 overs (Adam Voges 47; Rangana Herath 4-49, Lakshan Sandakan 4-58)
 Britain's Andy Murray, bristling with confidence after ending a three-year wait for another grand slam title at Wimbledon, will seek to make history in Brazil by becoming the first man to win successive Olympic gold medals in men's singles tennis.</strongBut to replicate his London Olympics triumph Murray will need to find a chink in the armour of Novak Djokovic, the proud Serb who has dominated men's tennis in recent years and now has his eye on the only major honour to elude him.In recent years Murray has struggled to hold his own in the rivalry against childhood friend Djokovic, who defeated him in the 2016 Australian and French Open finals to became the first man since 1969 to hold all four grand slam titles at once.Djokovic's maiden French Open title elevated the Serb, a winner of 12 grand slams, to the pantheon of tennis greats but a lacklustre third-round exit at Wimbledon has offered hope to Murray and his other rivals that his dominance may be ebbing."Winning medals for your country is as good as it gets," said Murray, who in 2012 became the first Briton in 104 years to win a men's singles gold medal at Olympics.Three-time grand slam winner Murray will be hoping to improve on his 24-10 career match record against Djokovic in Brazil, where the two men are favourites to take gold.Roger Federer's hopes of winning a men's singles Olympics gold to go with the doubles title he won in 2008 look to be at an end, however, after the 34-year-old pulled out of Rio -- and the rest of the season -- to undergo rehabilitation on his left knee.In the women's game, 22-time grand slam winner Serena Williams is hot favourite to retain the Olympic singles gold that she won for the first time in 2012.Williams, who won three Olympic doubles gold medals with sister Venus, underscored her dominance of the women's game this month by lifting her seventh Wimbledon title.Germany's Angelique Kerber and Spain�s Garbine Muguruza have contested the last four grand slam finals against Williams and are expected to be her main challengers in Rio.But Russia's Maria Sharapova, who lost to Williams in the 2012 final, will miss Rio as she is still serving a two-year ban for failing a drugs test.
 West Indies have added 19-year-old fast bowler Alzarri Joseph to their squad for the second test against India starting in Jamaica on Saturday.</strongJoseph brings genuine pace to a West Indies attack that struggled for penetration in a lopsided innings and 92-run defeat in the first test in Antigua last week.The Antiguan teenager earned selection after impressing in the under-19 World Cup won by West Indies in February. He bowled the fastest delivery of the tournament, clocked at 143 kilometres per hour.Joseph has played just eight first class matches, picking up 24 wickets at an average of a tad over 24.West Indies veteran Marlon Samuels described Joseph as �young, fit, fast and fearless� and chairman of selectors Courtney Browne thought the youngster was ready for promotion."We feel that Alzarri � will now benefit from the professional guidance of our coaching staff and the presence of fast bowling legend Joel Garner as manager," Browne said.Joseph�s addition brings the squad to 14 players, with nobody dropped after the first test, where India piled up 566 for eight declared.Shannon Gabriel was the only genuine quick in that line-up, backed by fast-medium exponents Jason Holder and Carlos Brathwaite.Early reports suggest the pitch at Sabina Park in Kingston may be green and give the fast bowlers some assistance in the second of the four tests in the series.West Indies also underperformed with the bat in the first test, compiling scores of only 243 and 231.Samuels, who scored one and 50, says it is time he raised his test batting to the level of his performances in Twenty20 and One Day Internationals.He averages only 33.39 in test matches, less than his ODI average and not far shy of his Twenty20 average.�I haven�t been getting the runs I�ve been looking for in the test arena but I�ve been making up in the shorter version,� the 35-year-old said.�It�s up to me to focus more and (put) in some big performance so the team can benefit.�He said he felt �a lot of pressure� and was aware he needed to temper his aggression at times and focus on occupying the crease.�I�m batting at four, so I have to dominate. The responsibility is great so I have to change my game.�
 Jermaine Blackwood smashed an entertaining counter-attacking half-century but India held the upper hand in reducing the West Indies to 88 for four at lunch on the opening day of the second Test in Kingston on Saturday.Blackwood, who was in danger of being dropped after a double failure in the innings loss in the first Test in Antigua a week earlier, responded with an electrifying innings of 62 with four sixes and seven fours off 62 deliveries to lift the home side from the depths of seven for three.He completely dominated a fourth-wicket partnership of 81 with Marlon Samuels and offered the sparse opening-day crowd at Sabina Park rich entertainment with a succession of attacking shots off both pacers and spinners.However, his adventurous style always made him vulnerable and he fell in the final over before the interval, adjudged leg-before to Ravichandran Ashwin.Samuels, who was scoreless for 29 deliveries -- in stark contrast to the explosive batting of his fellow Jamaican at the other end -- resumes in the afternoon session on 14 off 71 balls in partnership with Roston Chase.West Indies were made to regret captain Jason Holder�s decision to bat first on winning the toss as India�s opening bowlers exploited the vulnerability of the hosts� top order yet again.Ishant Sharma removed Kraigg Brathwaite and Darren Bravo off successive deliveries in just his second over.With a reputation of susceptibility to the short ball early in his innings clearly on the fast bowler�s mind, Brathwaite failed to negotiate a lifting delivery in Sharma�s second over and Cheteshwar Pujara held the simple catch at short-leg.Bravo�s weakness outside the off-stump was then immediately capitalised upon, the left-hander failing to cover a full-length delivery properly for a delighted Indian captain Virat Kohli to take the catch at first slip.Rajendra Chandrika, the other opener, then gave catching practice to Lokesh Rahul at second slip as he guided a lifting delivery from Mohammed Shami unerringly into the hands of the fielder.Rahul was an enforced change to the Indian lineup from the first Test triumph as opening batsman Murali Vijay was ruled out because of a thumb injury sustained in the lead-up to the match.Miguel Cummins is making his Test debut for the West Indies, the 24-year-old fast-medium bowler getting the opportunity at the expense of all-rounder Carlos Brathwaite.
 Centuries from Ross Taylor and BJ Watling and a three-wicket haul from Trent Boult moved New Zealand closer to a huge win over Zimbabwe in the first Test in Bulawayo on Saturday.After Taylor scored an unbeaten 173 and Watling made 107 in a New Zealand total of 576 for six declared, Boult struck three times in six deliveries to send Zimbabwe crashing to 17 for four in their second innings.Craig Ervine�s unbeaten 49 helped the hosts recover to 121 for five at the close of day three at Queens Sports Club, but Zimbabwe still need 291 runs to make New Zealand bat again in the match.While the first two days of the game had been distinctly one-sided, the third was even more brutal as Taylor and Watling added 253 for the sixth wicket for New Zealand, who went on to claim four Zimbabwean wickets in the first four overs of their reply.The Black Caps lost nightwatchman Ish Sodhi in the second over of the day as they resumed on 315 for four, but that simply allowed Taylor and Watling to get on with their productive alliance.The pair hardly offered the Zimbabweans a sniff in the four hours that they were together, as Taylor brought up his 14th Test hundred and Watling registered his sixth.They were finally parted five overs after the tea break when Watling pulled a short delivery to deep square-leg, and the dismissal led Kane Williamson to declare with a first-innings lead of 412.The New Zealand bowlers wasted no time in getting stuck into their opponents, as Tim Southee had Hamilton Masakadza caught at slip in the first over and Boult went on the rampage.The left-armer bowled Brian Chari in his first over, then dismissed Chamu Chibhabha and Prince Masvaure with consecutive deliveries in his second.Ervine and Sikandar Raza Butt responded with an entertaining counterattack that saw them put on 69 for the fifth wicket in just nine overs, but Neil Wagner ended the fun when he dismissed Raza for 37 with a short ball.The Zimbabweans were left staring down the barrel of an innings defeat, as the debilitating effects of not playing a Test since November 2014 became increasingly clear.�
 Ross Taylor and BJ Watling continued to grind Zimbabwe into the dust as their unbroken 220-run stand helped New Zealand build a mammoth first-innings lead on day three of the first Test at Queens Sports Club on Saturday.Taylor brought up his 14th Test century and converted it into an unbeaten 156, while Watling went to tea on 95 not out as New Zealand reached 543 for five.With a lead of 379, the focus began to shift to when captain Kane Williamson might declare and begin New Zealand�s push for victory.The Black Caps lost nightwatchman Ish Sodhi in the second over of the day as they resumed on 315 for four, but that simply allowed Taylor and Watling to get on with their productive alliance.Taylor started the day on 38 and reached 87 by the lunch interval, while Watling was untroubled throughout his innings and scored progressively quicker as the day wore on.As Zimbabwe wilted in the field, the pair added 120 runs in the second session without offering a chance.The hosts were not helped by the continued absence of Sean Williams and Regis Chakabva through illness.Without Williams� left-arm spin, legspinner Graeme Cremer was left to wheel his way through 51 overs.Zimbabwe were bowled out for 164 on the opening day of the Test, when left-arm seamer Neil Wagner recorded career-best figures of 6 for 41.�
 Sri Lankan spinner Rangana Herath backed up centurion Kusal Mendis� superlative effort to stun top-ranked Australia by 106 runs in the rain-affected first Test in Pallekele on Saturday.Herath, 38, grabbed 5-54 to help the hosts bundle out Australia for 161 on the fifth and final day after they were set a challenging 268 in the second innings.Australian skipper Steven Smith posted a gritty half-century before Steve O�Keefe and Peter Nevill frustrated Sri Lanka with a 178-ball partnership.Herath bagged the last Australian wicket to fall by cleaning up O�Keefe to trigger wild celebration in the Lankan camp. This was Sri Lanka�s only second Test win against Australia in 27 matches.It was batsman Mendis (176) who set up the unlikely win for Sri Lanka with his superb maiden ton in his team�s second innings after the hosts overcame an 86-run deficit.The 21-year-old Mendis, the only centurion in a low-scoring contest, played a memorable 254-ball knock laced with 21 fours and a six.For Lankan spinners it was a race against time as rain threatened to thwart their chances of upsetting firm favourites Australia but Herath had other ideas in mind.<br/> <br/> The left-arm spinner, who grabbed four wickets in the first innings, made life miserable for the Australian batsmen on a turning track on the fifth morning.Smith, whose 55 was the next best after Mendis� century, was trapped LBW by Herath as Australia slipped to 141 for seven at lunch.Debutant chinaman bowler Lakshan Sandakan, who bagged seven wickets in the match, provided the perfect foil to Herath�s experience.O�Keefe, who was ruled out of the remainder of the series after injuring his hamstring Thursday, surprised the opposition by turning up at the crease Saturday.O�Keefe and Nevill resisted stoutly with one eye on the skies but could only delay the inevitable.Sri Lanka lead the three-match series 1-0 as the action shifts to Galle for the second Test beginning August 4.�
 Prospects of day/night Test cricket being staged in England moved closer to reality on Friday with a trial announced by Warwickshire next month.</strongThe county club will stage one of their Second XI fixtures under lights at Edgbaston.The August 22-24 fixture against Worcestershire 2nd XI has been moved from Barnt Green to Warwickshire�s Edgbaston headquarters in Birmingham, which has permanent floodlights.Australia won the inaugural day/night Test when they beat New Zealand by three wickets in Adelaide in November last year.Doubts, however, remain about the visibility of the pink ball used in floodlit Tests -- the standard red ball does not show up well under the floodlights and the white ball used for one-day matches could get �lost� when players are in their traditional �whites� for Test cricket.There are also particular concerns about whether day/night Tests are necessary in England, when much of the cricket season takes place when the hours of natural daylight are the longest in the year.Nevertheless, England and Wales Cricket Board (ECB) chairman Colin Graves remains keen on the idea and officials at Lord�s are keen to look into the subject, as are leading ball manufacturers Dukes and Kookaburra.Both firms will provide a pink ball for the 2nd XI fixture, with each used for two innings of the match, which will be free to the public.Alan Fordham, the ECB�s head of cricket operations, said: "Staging first-class matches under lights with a pink ball is a format which has worked well elsewhere in the cricketing world and it�s important we consider ways in which we can attract more people to first-class cricket in the long term."We�ll be monitoring this trial match closely and we would like to thank Warwickshire for their support in hosting the fixture."Neil Snowball, Warwickshire�s chief executive, added: "The concept of day/night cricket has attracted a large amount of interest around the world and we are keen to support the ECB by exploring the potential for these fixtures in England and Wales."We have a long tradition of staging day-night cricket on this ground and this trial game will provide valuable insights for everyone interested in broadening the audience for our first class game."Edgbaston hosted the first ever day/night limited-overs match in Britain in 1997, under temporary lights.But the Birmingham ground now has permanent floodlights and is seen as the most likely venue should England play a home day/night Test.
 With one month of the transfer window left remaining, Premier League clubs are poised to push escalating fees closer to another new record this week.</strongThe projected move of France midfielder Paul Pogba from Juventus back to Manchester United for a world record one hundred million pounds ($132.3 million) would take spending by the 20 teams to almost 600m, adding to the 175m recorded by accountancy firm Deloitte in the January window.Last year was the first in which annual fees reached one billion pounds.So far this close-season Arsenal -- criticised in the past by many supporters for not spending enough -- have recorded the highest individual outlay by paying 35 million pounds for Swiss midfielder Granit Xhaka.But Pogba's proposed return to Old Trafford would dwarf that and all other sums in the history of the sport, smashing the world record of 85.3 million pounds that Real Madrid paid for Wales forward Gareth Bale three years ago.Arsenal manager Arsene Wenger is among those who are bemused by how high fees have risen but still believes there is no longer any limit."Since I've been in the sport I always thought it can't go any higher up and I've always been wrong," he told reporters."Maybe it will be 200 or 300m, who knows?"Trevor Francis, the first million-pound player in English football back in 1979, said he was surprised the new world record might be set by a midfield player."I really thought if (100m) was paid, it was going to be for a striker who could be a match-winner and probably provide you with 30 goals a season," he told BBC Radio."Possibly the only two I thought could command that figure were Cristiano Ronaldo and Lionel Messi because people realise they are exceptional talents that will go down in the history of the game."strong>BROADCASTING DEAL</strongWith a lucrative new broadcasting deal coming into effect this season and new managers taking over at Chelsea and the two Manchester clubs, it is perhaps not surprising that a spending spree has materialised.Under Antonio Conte, Italy's head coach at Euro 2016.�Chelsea paid more than 30 million pounds for beach of Marseille's Michy Batshuayi and Leicester City's N'Golo Kante.The fee for Kante, who helped Leicester become surprise Premier League champions, clearly illustrated football's inflation rate -- a year ago the midlands club paid barely one-sixth as much for him.Former Chelsea manager Jose Mourinho was always likely to spend big in attempting to revive Manchester United, with Pogba expected to become his fourth major signing.Ironically, the most exciting of them could be Zlatan Ibrahimovic, who arrived on a free transfer from Paris St Germain and scored a spectacular goal on Saturday four minutes into his debut.Pep Guardiola, having already spent 35 million pounds at Manchester City, was reported by British media on Sunday to be on the verge of almost doubling that by signing German forward Leroy Sane from Schalke 04.At the other end of the spectrum, Burnley and managerless Hull City, two of the newly promoted clubs, have hardly begun recruiting.Once they do over the next 31 days, the amount of money shelled out will only increase.�
 Novak Djokovic maintained his unbeaten record against Frenchman Gael Monfils with a 6-3 6-2 win in the semi-finals of the Rogers Cup in Toronto on Saturday, while Japan's Kei Nishikori also reached the final after beating Swiss second seed Stan Wawrinka.</strongWorld number one Djokovic, now 12-0 against Monfils, has the opportunity to become the tournament�s first four-time winner when he meets Nishikori in Sunday's final.Nishikori came from 2-5 down in the opening set to stun Wawrinka 7-6(6) 6-1 in the first semi-final at the Aviva Centre.Monfils came into the semi-finals having won nine straight matches, including the Citi Open title in Washington, D.C. last Sunday.Djokovic overcame a service break in the third game and was dialled in the rest of the way in the 74-minute match. The Serb evaluated his play as his best of the week.�It came at the right time,� Djokovic said in a courtside interview. �You never know what is going to come the other way from a guy who has been in top form in the last couple of weeks.�He won in Washington last week and came in here and won comfortably in most of his matches. I had to stay committed from the beginning and I�m very, very pleased with the way I played.�Djokovic is 9-2 against Nishikori and has won their last eight meetings, including the hard-court final in Miami earlier this year.�Playing against Kei is never easy,� Djokovic said. �He�s been around. He�s an established top-five, top-10 player. He�s one of the quickest on tour and I�m going to have some fun.�Nishikori is seeking his first ATP Masters 1000 title after reaching the third final of his career in the elite events."I knew I would have to step it up a little bit in the second set the first couple of games," Nishikori said after beating Wawrinka for just the second time in five meetings."And after that, I tried to be more aggressive and really concentrate because he was a little bit down and I knew if I had to let him, he's going to come back.�Wawrinka, a two-times grand slam champion who has won 14 ATP World Tour titles, became increasingly dispirited as he lost 11 of the last 13 games after squandering four set points in that opening set.Nishikori, serving at 40-0, sealed victory on the first of his three match points when an overhead smash prompted an unforced error from his opponent, ending an encounter that lasted just under an hour-and-a-half.
 New Zealand wrapped up an innings victory against Zimbabwe in the first Test in Bulawayo on Sunday despite a maiden Test century from Sean Williams finally giving the hosts something to smile about.New Zealand bowled Zimbabwe out for 295 to win the game by an innings and 117 runs, with left-arm seamer Neil Wagner finishing with eight wickets in the match at Queens Sports Club.The second and final Test gets under way at the same venue on Saturday.After three days of brutal domination at the hands of the tourists, Williams rose from his sick bed to hit the fastest Test century by a Zimbabwean as he reached three figures in just 106 deliveries.The left-hander had spent the past two days off the field due to illness as New Zealand racked up a first-innings lead of 412, and came to the crease early on the fourth morning with Zimbabwe tottering on 124 for six, still needing 288 runs to make the Black Caps bat again.Williams added 118 for the seventh wicket with captain Graeme Cremer, who made 33, and went on to make 119 before succumbing to the left-arm spin of Mitchell Santner.�
 �The annual Shandur polo festival concluded on Sunday at world s highest polo ground in Chitral.Addressing on the occasion the senior officials of Khyber Pakhtunkhwa government said that the provincial government in collaboration with Pakistan Tourism Development Corporation (PTDC) was making all out efforts to promote sports and tourism while polo game will find special attention and patronage of the KPK government.He said the polo grounds of the major towns of the district including Garum Chashma, Booni, Shagram Reshun will be reconstructed and polo players will get special package from the government so that the game of kings is revived in Chitral which ultimately promotes tourism.The three-day famous Shandoor polo festival had started on Friday (July 29) in Chitral.Shandoor Polo Festival is one of the big festivals in the country.The polo which is played between the polo teams of Gilgit-Baltistan and Chitral Khyber Pakhtunkhwa is experienced as a free�style polo match.The festival also includes Folk music Folk dance traditional sports.Polo was introduced in South Asia by the Muslim kings in the 13th century.English word Polo is in fact a Balti word meaning ball .In ancient times there was no limit to the number of players and no time limit.<br/> Which team scored nine goals first became the winner.Today there are six players to each side but this is by no means a rule in local polo games. The game lasts for one hour with a ten-minute break.Chitral, Gilgit and Skardu have always played the game of polo closest to its original form.�
 �Challenger Carl Frampton defeated Mexico�s Leo Santa Cruz by a majority decision Saturday to claim the WBA featherweight crown and become the first boxer from Northern Ireland to win titles in two divisions.The 29-year-old Frampton controlled the fight between the two undefeated boxers in the early rounds. He then held on for the win as Santa Cruz gained steam in the middle rounds before the two closed it out by exchanging punches in the middle of the ring as the final bell sounded.Frampton, who was born in Belfast, improved to 23-0 with 14 knockouts as he had to overcome a height advantage after moving up to fight at a higher weight class.One judge scored it even, 114-114, while the other two gave it to Frampton 117-111 and 116-112 in front of a crowd of about 8,000 at the Barclays Center arena.Frampton previously held the IBF and WBA super-bantamweight titles.Frampton punctuated his impressive early round performance by staggering the champion in the second round with a left hook. His shot counter shot slammed into the right side of Santa Cruz�s head, sending the Mexican stumbling backwards into the ropes with 45 seconds left in the round.Frampton then padded his lead by winning the next three rounds before Santa Cruz turned it on in the sixth, which proved to be one of his best rounds of the fight as he landed some solid combination punches.But Santa Cruz�s inability to score enough points in the early going caught up to him as Frampton did not tire in the later rounds.�
 A fighting stand between Sean Williams and Graeme Cremer kept Zimbabwe alive on day four of the first Test against New Zealand in Bulawayo on Sunday.Williams recorded his maiden Test fifty and Cremer resisted the New Zealand bowlers for the entire morning session to take the hosts to lunch on 221 for six at Queens Sports Club.Zimbabwe began the day on 121 for five, still needing 291 runs to make New Zealand bat again, and lost Craig Ervine for 50 in the second over of the day.But fears of another collapse were not realised, as Williams shrugged off the illness that had kept him off the field for the previous two days and took the fight to the tourists.With an attacking field set, the left-hander took advantage of the gaps in the field to hit 15 boundaries in an unbeaten 73 from just 83 deliveries.Cremer�s innings was more about grit, as he weathered several blows to the body from Neil Wagner on his way to 32 not out.Zimbabwe still trailed by 191 runs with four wickets in hand.
 �Indian spinner Ravichandran Ashwin tormented the West Indies yet again to claim a second consecutive five�wicket innings haul and dismiss the home side for 196 on the opening day of the second Test at Sabina Park in Jamaica on Saturday.Lokesh Rahul then made the most of his inclusion in the final 11 in place of the injured Murali Vijay reaching an unbeaten 75 as India closed the first day at 126 for one in reply.Ashwin followed up his haul of seven for 83 in the final innings of the first Test a week earlier with five for 52 on a pitch offering turn and bounce from the very first session of play.He became just the third Indian bowler to have five�wicket innings hauls in three consecutive Test matches after fellow spinners Bhagwat Chandrasekhar and current coach Anil Kumble.Going into any match I assess the batsmen in the opposition to see if I have dismissed them before said Ashwin after the day�s play.I then work on getting them out based on their strengths and weaknesses.<br/> It s never as easy as it looks sometimes but it s gone really well for me in the last two innings.Having ended the only substantial resistance from the home side when he dismissed Jermaine Blackwood for a run-a-ball 62 in the last over before the lunch interval, Ashwin added swiftly to his tally in the afternoon session accounting for Marlon Samuels for 37 to a sharp catch at short�leg by Rahul and following up with the wickets of Shane Dowrich Devendra Bishoo and captain Jason Holder in quick succession.�
 Eighty years after Jesse Owens won four medals at the 1936 Berlin Olympic Games, his daughter says Germany�s Nazi leader Adolf Hitler refused to shake her father�s hand.</strongThe controversial Berlin Olympics opened on August 1, 1936 to much fanfare with Reich�s Chancellor Hitler hoping to showcase the best of the Aryan race with the hosts planning to dominate the podium across the 19 different sports events.Owens ruined Hitler�s plans as the black American sprinter won gold in the 100 metres, 200m, 4x100m relay and long jump gold over six magical days at Berlin�s Olympic Stadium.His achievements made a mockery of the Nazi ideology of Aryan supremacy and according to sporting folklore, Hitler refused to shake Owens hand, despite the Americans historic display.Owens died of lung cancer, aged 66, in 1980, but his daughter, Marlene Owens Rankin, says as far as she is concerned, her father never shook Hitler�s hand.Owens Rankin said her father always gave one answer when asked whether he was congratulated by Hitler in Berlin, three years before the start of World War II which ended withthe Nazi leader�s suicide in the ruins of Berlin in May 1945. "He always said �I didn�t go to the Berlin Olympics to shake Hitler�s hand�," the 77-year-old daughter told magazine Sport Bild.<br/>"�I went there to run. And that�s exactly what I did."�I�m here today and where Hitler is, I do not know� "Because of that, I don�t think he shook his hand."strong>�Owens movie</strongOwens� daughter first visited Berlin in 1984, when the road next to the iconic stadium was renamed Jesse Owens Allee in tribute to her father.In his autobiography, Owens said Hitler did nothing more than raise his hand in acknowledgement when the pair were in the same room during the Berlin games."That�s in my favourite book about him," said Owens Rankin."I don�t know for sure if that happened, but my father was not the kind to make stories up.<br/>"If he said that, then I think it�s what happened."�Race� the biographical sports drama based on Jesse Owens� story, and directed by Stephen Hopkins, hit the screens in Germany on Thursday in time for the 80th anniversary of his achievements.There is also an exhibition of rarely seen photographs from the 1936 games currently on show at Berlin�s Olympic Stadium.The imposing arena, which was built for the 1936 games, held 100,000 for the opening ceremony with nearly 4,000 athletes from 49 nations taking part.But there was no escaping the racist undertone of the 16-day spectacle in anti-semitic Germany, with only one Jew, Helene Mayer, allowed to compete for the German team while several countries boycotted the games.But Owens� legacy has echoed down the years in Berlin. Sprint star Usain Bolt set the current 100m and 200m world records on the famous blue track, when the 2009 world athletics championships were held in Germany�s capital, and he refered directly to Owens.Both sprinters were 22 when they made history in Berlin - 73 years apart."Jesse made history here, so I�m going to try to do the same," Bolt said in Berlin in 2009 before winning the 100m, 200m and 4x100m world gold medals.His times of 9.58secs for the 100m and 19.19m for the 200m have never been bettered.
 West Indies captain Jason Holder earned a richly-deserved wicket at the end of an excellent spell of bowling, but India remained firmly in control at 425 for six at lunch on the third day of the second Test at Sabina Park in Jamaica on Monday.That gave the tourists a lead of 229 runs after the home side�s meagre first innings total of 196.Ajinkya Rahane survived a searching examination from medium-pacer Holder and benefitted from a dropped chance off leg-spinner Devendra Bishoo to be unbeaten on 74 at the interval.However the West Indies finally enjoyed a bit of success for their discipline and persistence with the ball when wicketkeeper-batsman Wriddhiman Saha was ruled leg-before to Holder for 47 on the stroke of the interval.Their sixth-wicket partnership was worth 98 runs and further solidified India�s already dominant position in the match, even though they were again kept to a pedestrian scoring rate with only 67 runs added in the two hours of play.Holder, who had gone wicketless through 54 overs in the series, troubled Rahane consistently in a nine-over spell after replacing fast bowler Shannon Gabriel 40 minutes into the session.In one particularly testing over, he had three vehement LBW appeals turned down and twice beat the outside edge of the well-set batsman.Bishoo should have claimed a wicket at the other end but Rajendra Chandrika failed to hold on to a low diving effort at backward-point when Rahane, on 65, top-edged an attempted cut.A weather forecast of torrential rain on the fourth day suggests that the Indians may be inclined to pursue quick runs in the day�s second session and seek to put the West Indies under greater pressure in their second innings by the close of play.�
strong>Arsenal manager Arsene Wenger is hoping Alex Oxlade-Chamberlain can be fully fit in time for the start of the Premier League season after the midfielder struggled with a knee injury last campaign.</strongOxlade-Chamberlain, who damaged his knee in a Champions League match against Barcelona in February, scored in Monday's pre-season 3-1 win over Mexican club Guadalajara Chivas in California.Arsenal begin their new season with crucial games against Liverpool at the Emirates on August 14 and a trip to Premier League champions Leicester City six days later."It's a very important season for him. He has been out for a long, long time. He has been injured and did not go to the European Championship. That's why I'm cautious with him," Wenger told the club's website."I hope I can get him through and fit for the start of the season. (He gives us) power, penetration. It's difficult what he doesn't have... that's why I would like him to get to the level he can go to."Wenger is also optimistic Spanish midfielder Santi Cazorla can regain fitness by the end of August after a long injury layoff last season due to a knee injury."He is our technical security in midfield and we missed him for five or six months last season. At the moment he is not completely there on the fitness front," Wenger added."He's a bit behind the others physically but I think he will be alright, maybe not on August 15th, but at the end of August he should be alright."
 The Pakistan Cricket Board (PCB) has hired Carl Crowe a UK based bowling coach for Pakistan all rounder Mohammad Hafeez�s upcoming bowling action test and hopes to clear him before the start of the ODI series against England.</strongHafeez has faced problems with his bowling action since 2014and in July 2015 was banned from bowling in international cricket for 12 months after his action was found to be illegal for a second time since November 2014.Hafeez was a key player for Pakistan before his bowling action was reported as he took 52 wickets in 47 Tests and another 129 ODI and 46 wickets in T20 Internationals.Talking to APP a PCB official said PCB hopes that Hafeez gets cleared before the start of the ODI series against England.Crowe has already started working with Hafeez since the last three days in Worcestershire where Pakistan played a tour match before the third Test against England at Edgbaston, he said.It may be mentioned that the bowling coach has worked with West Indies off spinner Sunil Narine who later cleared his bowling action test conducted by the International Cricket Council (ICC).
strong>Real Madrid have no intention of making a quick profit on striker Alvaro Morata after the Champions League winners opted to take him back to the Bernabeu from Juventus last month, the Spanish side's manager Zinedine Zidane has said.</strongReal sold Morata to Juventus two seasons ago but included a buy-back clause in his contract, which they exercised in July after the forward scored 27 goals in 93 games in Italy and three for Spain during the European Championship.Media reports in Spain and Britain suggested that Real would cash-in on the 23-year-old by selling him on immediately, with Arsenal and Chelsea said to be vying for his signature, but Zidane insisted Morata was part of his plans."Yes, Morata is a Real Madrid player," he told reporters in Michigan following his team's 3-2 win over Chelsea in the International Champions Cup at the weekend."We're delighted to have him back, back to his original home. He's going to remain a Real Madrid player."
 Darren Lehmann has extended his contact as Australia�s head coach until 2019 to cover the World Cup and the Ashes series in England that year, the country�s cricket board (CA) said on Monday.</strongThe 46-year-old former left-handed batsman took on the role on the eve of the 2013 Ashes and despite losing 3-0 in England, he went on to guide the team to series wins over South Africa, England, India, New Zealand and West Indies.He also won the 2015 World Cup on home soil with Australia, who currently top the ICC rankings in both test and one-day international cricket.Lehmann�s contract was due to expire in June 2017."I am incredibly grateful for the support and faith the Cricket Australia Board and the players have put in me," Lehmann said in a statement from CA."I absolutely love doing this job and as far as I am concerned, it is the best job in the world."There is still a lot I would like to achieve in the time I have left and we have a lot of hard work ahead of us, especially with an upcoming test series in India and a home Ashes series."I don�t just see my job as winning games of cricket.It�s about continuing to grow the game from the grassroots up in Australia, and helping to grow the game worldwide."Australia are trailing 1-0 in a three-test series in Sri Lanka and face a daunting four-match series in India next year.Cricket Australia said the contract extension would lend stability to the team leading into 2019."We wanted certainty and stability for the playing group with both the coach and assistant coach contracted as we build towards the Ashes series and the 2019 World Cup," said CA executive general manager Pat Howard."Darren has had great success in the role and he and the national selection panel deserve a huge amount of credit for taking a relatively young side to number one in the world in two of the three formats.
 World number one Novak Djokovic continued his dominance of Kei Nishikori with a 6-3 7-5 victory in the final of the Rogers Cup in Toronto on Sunday.</strongAfter clinching his 30th ATP World Tour Masters 1000 title, Djokovic immediately started to turn his attention to something more elusive, an Olympic gold medal.In his first tournament since an upset third round loss to American Sam Querrey on the grass of Wimbledon four weeks ago, Djokovic returned to his winning ways and became the first four-time winner of the Rogers Cup.The 29-year-old Serb seized the opening set in just over 30 minutes, and then dug deep during a spirited back and forth in the final stages of the hardcourt match. Djokovic was bolstered by a strong service performance as he won 82 percent of his first serve points and recorded five aces."I worked on it (with my coach)," Djokovic, who struggled on serve earlier in the tournament, said in a courtside interview."I had to change something, I was not getting many of the free points (as I did today)."It allowed me to be more aggressive. It was my best (serving) performance of the week.�With the second set tied at 5-5 and the score at deuce, Djokovic won a pair of rallies to earn the decisive break.Djokovic put extra loft on a forehead to create an unforced error from Nishikori on game point, before triumphantly pointing at his head to illustrate his savvy.He served out to close the match.Nishikori fought hard to stay in the final set but seemed to be bothered by his rackets as he made multiple trips to the side of the court to change.The Japanese player recorded his fourth straight Memphis title in February for his 11th ATP Tour victory, but he cannot seem to solve the world�s top player and has now lost nine straight times to Djokovic.�It was a shame to lose but this was my first time final here in Toronto,� Nishikori told the Canadian crowd. �So, it was a great week.�Djokovic, a 12-time grand slam champion, will now turn his focus to the Rio Olympics, a tournament he has yet to conquer.He earned a bronze medal in singles at Beijing in 2008 and fell just short of a medal at London in 2012.�I don�t need to explain that every athlete dreams of being a part of the Olympic Games,� he said. �I�m competing in singles and doubles.""Hopefully I�ll get at least one medal.�
 Lokesh Rahul�s Test-best 158 anchored India�s formidable reply to the West Indies first innings total of 196 as the hosts reached 358 for five at stumps on the second day of the second Test at Sabina Park in Jamaica on Sunday.</strongLeading 1-0 in the four-match series, the tourists enjoy a lead of 162 runs with five wickets in hand.Making the most of a recall to the team as replacement for the injured Murali Vijay, Rahul interspersed moments of rare aggression with long periods of watchful defiance over his near seven-hour occupation of the crease in compiling his third hundred in just six Tests.Resuming on the second morning on 75 in partnership with Cheteshwar Pujara, the opening batsman hoisted part-time off spinner Roston Chase for the first six of the innings over long-on to reach three figures after 90 minutes� play.There were two more sixes in the mid-afternoon session to embellish an innings that spanned 303 deliveries and also included 15 fours.He put on 121 for the second wicket with Pujara, who was run out for 46 after lunch by Chase�s direct throw to the stumps at the non-striker�s end.That was the only success for a limited West Indies attack through the first two sessions of the day as they struggled to offer any consistent threat to batsmen well equipped technically and temperamentally for the requirements of the day, especially after India had taken such a firm grip on the match by the end of day one.Virat Kohli, in top form following a career-best 200 in the first Test triumph in Antigua a week earlier, seemed in the mood to deepen the home side�s dilemma.He helped Rahul add 69 runs for the third wicket going into the final session of the day when the opener�s innings ended in somewhat controversial circumstances as lengthy deliberation involving the television umpire was needed before he was ruled caught by wicketkeeper Shane Dowrich down the leg-side off fast bowler Shannon Gabriel.Chase snared his second wicket, the prized scalp of Kohli, when the Indian captain fell to a sharp catch by Rajendra Chandrika at short-leg for 44 and leg-spinner Devendra Bishoo earned an LBW verdict against Ravichandran Ashwin.At that stage, India had lost three wickets for 50 runs at 327 for five, a veritable collapse in the context of their virtual impregnability through the first six hours of the innings.However, Ajinkya Rahane and wicketkeeper-batsman Wriddhiman Saha remained unbeaten at the close and together with the rest of the Indian batting will be seeking to play the West Indies completely out of the match on the third day.
 West Indies� vulnerable top-order crumbled again in between the showers to be 48 for four in their second innings at lunch on the rain-affected fourth day of the second Test against India at Sabina Park in Jamaica on Tuesday.Trailing on first innings by 304 runs after the tourists reached 500 for nine declared at tea on the third day, the hosts go into the afternoon session still facing a deficit of 256 runs to avoid a second consecutive innings defeat in the four-match series.Frustrated by a weather system that erased the final session on day three and delayed the start of play on the fourth morning for over an hour, India�s varied attack made up for the lost time by again exploiting the glaring weaknesses of the West Indies batsmen.With his place in the team on the line after a succession of low scores in his fledgling Test career, Rajendra Chandrika was the first to go, bowled for one by a delivery that made extra height from tall fast bowler Ishant Sharma and rebounded off the batsman�s right elbow onto the stumps as he attempted to pull out of the shot.His opening partner, Kraigg Brathwaite, and new batsman Darren Bravo were peppered with regular short-pitched bowling from both Sharma and Mohammed Shami.Bravo in particular was lucky to survive the concerted assault but at the other end, the introduction of Amit Mishra broke the 36-run stand when Brathwaite, on 23, miscued an attempted pull off the leg-spinner for Lokesh Rahul to take the catch running back from midwicket.Marlon Samuels was comprehensively bowled by Shami with no addition to the total and off what proved to be the last delivery before the interval, Bravo failed to negotiate another lifting delivery angled into the body and Rahul held the catch at third slip to remove the left-hander for 20.In losing three wickets for seven runs at the end of the truncated session, in which only 15.5 overs were bowled, the West Indies exactly replicated their predicament at the start of the match when their captain, Jason Holder, won the toss and chose to bat first.Roston Chase, who claimed five wickets with his off-spinners in India�s marathon innings, was expected to join Jermaine Blackwood at the crease in the afternoon session with the home side in desperate need of some meaningful resistance, and more realistically significant intervention from the weather, to avoid another innings defeat inside four days.
 Pakistan were determined to give away as little as possible ahead of the third Test against England at Edgbaston on Wednesday.Following a 330-run defeat in the second Test at Old Trafford, which saw England level the four-match series at 1-1, there is likely to be a change in Pakistan�s top order.Struggling opener Shan Masood appears set to miss out, with Pakistan either including novice specialist opener Sami Aslam, a 20-year-old who has played just two Tests, at the top of the order or promoting number three Azhar Ali."We are sure about who will be playing -- absolutely no doubt -- but I don�t want to let the other team know," Pakistan captain Misbah-ul-Haq told reporters at Edgbaston on Tuesday.Pakistan coach Mickey Arthur made no attempt to hide his feelings after the huge loss at Old Trafford and Misbah said he had no issue with the South African�s strong criticism of the side."I think his anger is appropriate," said Misbah. "The players are also unhappy that, after an outstanding performance, you were nowhere in the next game."But you have to give credit to the opposition that they played so outstandingly that it put you out of the match."Both Arthur and Misbah are determined to instill a team culture in a squad whose last tour of England in 2010 saw Pakistan bowled out just 72 in their first innings of that year�s Edgbaston Test."I think it�s important that we should set a trend -- no one is bigger than the game."We have to understand that and be disciplined. No matter who the player is, even if it�s me and if my priority is something else, then I should not be in the team."As for that 2010 reverse, Misbah -- who wasn�t even in the squad at the time -- said: "I think if you keep the past in mind you can�t move ahead - obviously it�s a new game, new pitch and a different team."So whatever challenges come before us... we have to focus on them, not worry or think about 2010 or before."
 Pakistan will look to bounce back from a crushing defeat in Manchester when it faces England in the third Test at Edgbaston in Birmingham from Wednesday.Pakistan began the four-match series with an impressive 75-run win in the first Test at Lord�s but England hit back to level things up with a 330-run win in the second Test at Old Trafford.The first Test saw an inspiring century from captain Misbah-ul-Haq but Pakistan�s performance in the next game betrayed its batting woes.The concerns start right at the top, with Shan Masood and Mohammad Hafeez struggling in English conditions. Masood in particular has had a tough time against James Anderson, falling to the pacer six times in 57 balls since the two teams� met in the United Arab Emirates last year.Naturally, Mickey Arthur, the Pakistan coach, called for a better effort from his top-order batsmen but was tight-lipped about possible changes to the side.<br/> <br/> "I was really disappointed with our performance at Old Trafford -- really disappointed," said Arthur. "There are credible losses, and there are losses when you lie down and are steamrollered ... Old Trafford was clearly that. I told the guys I thought we were warriors at Lord�s. We were completely the opposite at Old Trafford.<br/> <br/> "We�ve had discussions (on team changes). We�ve given that position some serious thought. We�re very clear on what we�re going to do this Test, but it�s not for public consumption. It has been a worry."However, it�s not just Pakistan whose batting appears vulnerable. England too has a shaky batting line-up dependent heavily on Alastair Cook and Joe Root, who both made hundreds at Old Trafford.James Vince and Gary Ballance are both under pressure to cement their respective places while Alex Hales has managed just 56 runs from four innings in the series. <br/> <br/> The home side will also be without the services of Ben Stokes, who was ruled out with a calf injury suffered at Old Trafford. His absence means England could play two spinners with Adil Rashid, the leg-spinner, waiting in the wings for a home debut in support of off-spinner Moeen Ali.England, though, will be encouraged by the superb form of Chris Woakes, who has taken 26 wickets and scored 221 runs in four Tests this season."I was thinking �I can do it at first-class level, why am I not showing it at the next level?" said Woakes. "You obviously have doubts about yourself ... but it�s amazing what six months can do for you."For Pakistan, Yasir Shah, the leg-spinner, is likely to be the key bowler on a pitch that is expected to assist spin. Yasir took 10 wickets at Lord�s but only managed one at Old Trafford.
 Rain interrupted play on the fourth day of the second Test at Sabina Park in Jamaica on Tuesday with the West Indies at six for one in their second innings against India.Ishant Sharma bowled Rajendra Chandrika for one as only three overs were possible before play was halted with the West Indies still trailing India�s first innings score of 500 for 9 declared by 298 runs.Overnight and early-morning rain had already delayed the start of play on Tuesday.India lead the four-match series 1-0 after a crushing win by an innings and 92 runs in the first Test at Antigua.�
 Olympics chief Thomas Bach called for a complete overhaul of the anti-doping system on Tuesday after revelations of state-backed cheating by Russia rocked preparations for the Rio Games.The uncovering of Russia�s widespread doping had shown up deficiencies in the system run by the World Anti-Doping Agency, Bach told an IOC session in Rio."Recent developments have shown that we need a full review of the WADA anti-doping system," Bach said, in a bullish speech just three days before the Olympics open on Friday."The IOC is calling for a more robust and efficient anti-doping system," he added."This requires clear responsibilities, more transparency, more independence and better worldwide harmonisation."A report by Canadian lawyer Richard McLaren for WADA said Russia�s sports ministry and secret services evaded drug testers by switching samples at Russian laboratories.The IOC has come under fire after it stopped short of banning Russia completely from Rio, but instead left it to individual sports to take action against athletes from the country.Bach blasted an outright ban as a "nuclear option", adding: "Let us just for a moment consider the consequences of a �nuclear option�."The result is death and devastation. This is not what the Olympic movement stands for."
 Saudi Arabia has appointed a princess to oversee women�s sports in the ultra-conservative kingdom, even as the country has doubled the number of female athletes representing it at the Olympics.Princess Reema bint Bandar bin Sultan was named head of the women�s section at the General Authority for Sports, which acts as the kingdom�s sports ministry, the official SPA news agency said.It did not specify what her responsibilities would be.Princess Reema is the daughter of the once-powerful Prince Bandar bin Sultan, who was the Saudi ambassador to Washington for 22 years until 2005. She was educated in the United States."I am honoured to serve my nation," SPA quoted Princess Reema as saying.Women face significant obstacles to competing in sport in Saudi Arabia, where women have to cover from head to toe and are banned from driving.Four Saudi female athletes are however taking part in the Olympics this year in Rio, where they arrived with seven Saudi men on Monday.These sportswomen include marathon runner Sarah al-Attar, judoka Wujud Fahmi, fencer Lubna al-Omair and 100m runner Cariman Abu al-Jadail.Both Attar and Fahmi were returning to the games after they became the country�s first female Olympians in London four years ago.In a first in 2014, a Saudi state school introduced sports for girls, after a call for lifting a ban on women in sports.Saudi authorities shut down private gyms for women in 2009 and 2010, and women are effectively barred from sports arenas by strict rules on segregation of the sexes in public.
 England have recalled fast bowler Steven Finn for the third Test against Pakistan at Edgbaston, captain Alastair Cook said Tuesday.</strongFinn who has taken 120 wickets in 33 Tests at an average of under 30 apiece is set to replace the injured Ben Stokes.All rounder Stokes has been ruled out after damaging his calf in England s 330 run win in the second Test at Old Trafford that levelled the four match series at 1 1. Cook said there was still a slim chance England could give a home debut to leg spinner Adil Rashid if there was a marked change in pitch conditions between Tuesday and Wednesday�s toss at Edgbaston.England also had the option of selecting Nottinghamshire quick Jake Ball who made his Test debut in Pakistan s 75 run win in the series opener at Lords.It was a tough call as I found when I lie awoke at 2 00 am (0100 GMT) thinking about it, Cook told reporters at Edgbaston on Tuesday.Finn took six for 79 against Australia at Edgbaston in an Ashes Test win last year and Cook added We ve gone for a guy with a proven Test record.England team Alastair Cook (capt) Alex Hales Joe Root James Vince Gary Ballance Jonny Bairstow (wkt) Moeen Ali Chris Woakes Stuart Broad Steven Finn James AndersonPakistan (probable): Mohammad Hafeez, Sami Aslam, Azhar Ali, Younis Khan, Misbah-ul-Haq (capt), Asad Shafiq, Sarfraz Ahmed (wkt), Wahab Riaz, Mohammad Amir, Yasir Shah, Rahat Ali
 Pakistan have adjusted their plans for Alastair Cook and Joe Root ahead of Wednesday's third test at Edgbaston, the touring side's coach Mickey Arthur has said, adding he considers the duo as the backbone of England's batting.</strongRoot scored 254 and an unbeaten 71 while Cook made 105 and 76 not out as Pakistan were beaten by 330 runs on the fourth day of the second test at Old Trafford last week to level the four-match series at 1-1."We had a look at Cook and Root again," Arthur told British media. "We analysed our plans. We see them as a fundamental to England's batting."If we can get into them with the new ball we've got a real good chance."While Root and Cook have been in prime form with the bat, Alex Hales, James Vince and Gary Balance have failed to shine for the hosts, who lost the opening test at Lord's."They are all quality players," Arthur added. "But they clearly know that when they walk out they are playing for their test places, so that provides another level of pressure."I'm not discounting Hales, but clearly Cook and Root are the beacon of England's batting at the moment."
 England seamer James Anderson is confident that he has enough skill and experience to compensate for his decreased pace over the remaining years of his cricket career.</strongEngland's record wicket-taker in the format missed the opening test defeat against Pakistan at Lord's with a shoulder injury but returned for the second match in Manchester.Anderson, who turned 34 over the weekend, took four wickets at Old Trafford as England levelled the four-match series with a 330-run victory but there was a discernable drop in pace for the bowler who has claimed 458 victims in 117 appearances."I didn't feel like my speeds were where they could be at Old Trafford," Anderson told reporters. "I felt a bit like Matthew Hoggard at the end of his career when he slowed down a bit but his control was pretty good."With the skills I have, I can do a job even if my speeds did drop."With experience, you can stay one step ahead in your head. It is like an old defender in football, who might not have the pace of a quick striker but he's two steps ahead of him upstairs."Anderson has missed a few test matches due to various injuries over the past year but the right-arm paceman still has the "hunger" to contribute for England, saying he was continuing to work hard on his fitness and technique."The way I feel at the moment, mentally, I've still got a hunger to play the game and a hunger to take wickets and help my team win matches," Anderson added."As long as I've got that hunger I'm going to keep working, keep improving and keep working on my fitness and if I get to 37 then great. I just try to concentrate on staying fit for the next game."The England selectors copped plenty of criticism for keeping Anderson out of the Lord's test, which the hosts lost by 75 runs, when the seamer was fit to bowl in the nets ahead of the match and subsequently played for Lancashire against Durham."Looking back, without having had any game time before that first test, it was probably wise to get some overs under my belt before I came back into the test side," Anderson said."I think it was probably the right decision."
 Rafael Nadal has conceded he is not yet sure that he will be able to represent Spain at the Rio Olympics as his fitness concerns linger.</strongThe 2008 gold medallist withdrew from the French Open with a wrist injury and missed Wimbledon."I will not be at the best level in any of the categories," Nadal told journalists after arriving in Brazil. "I have not competed for two months and I have not trained a lot.""I will train a few days here to see what I can do and then decide what is best, to be more positive for me and the team," he said.Nadal's Spanish team mate David Ferrer acknowledged last week that the 14-time grand slam champion's fitness situation was "delicate".World number five Nadal, who is due to be Spain's flag bearer, was absent from the 2012 Olympics due to injury and should he withdraw, it would come as a significant blow for tennis at the Games with several other high-profile player also missing.Roger Federer sits out due to a knee problem and Wimbledon finalist Milos Raonic withdrew citing fears over the Zika virus.Nadal's coach and uncle, Toni Nadal, later raised hopes the player may be ready to play, although perhaps not in all three events - singles, doubles and mixed doubles."His wrist is so much better. We tried to practise normally. We played with a good level, a good intensity," Toni said."We are waiting until tomorrow to take a decision to play all the things or not: singles, doubles and mixed doubles."Tomorrow we have to talk with (Spain coach) Conchita Martinez and with Rafa and what we think is better for the team, and then we play. Sure, sure, we play something."�
strong>India built a first-innings lead of 304 runs before declaring at 500 for nine on day three of the second test against West Indies in Kingston, Jamaica on Monday.</strongAjinkya Rahane scored his seventh test century, and the third in four innings, compiling an unbeaten 108 off 237 balls.He made 127 and 100 not out against South Africa in Delhi in December. Rahane brought up his century with a somewhat lucky boundary when he edged off-spinner Roston Chase between the wicketkeeper and first slip.Light rain prompted a brief stoppage during the second session and more showers are forecast for Tuesday at Sabina Park, which might offer West Indies a lifeline as they try to avoid losing the first two tests in the four-match series.But with seven sessions still to play, they face a tall order to save the game. The West Indies bowlers stuck to their task well, keeping the India batsmen subdued for long periods.It took the visitors 171 overs to compile their mammoth total as they scored at less than three runs per over.Chase (5-121) returned the best figures while captain Jason Holder got little reward for his efforts, conceding only 72 runs from 34.2 lively overs.He picked up only one wicket, his first of the series, when he trapped Wriddhiman Saha lbw for 47.
 Saudi Arabia�s pioneer sportswoman Sarah al-Attar will move up to the marathon at the Rio Olympics from the 800 metres in London as the conservative Gulf kingdom doubles its female team.</strongThe four women and seven men competing for Saudi Arabia arrived in Rio on Monday but were kept away from prying media.Just two women became the first Saudi female Olympians in London four years ago.Attar, now 23, finished last in her 800 metres heat in London, more than half a minute behind her nearest rival. She still got a standing ovation when she crossed the line clothed from head to foot in line with the conservative tradition.She can expect a similar acclaim in the women�s marathon, which a member of the Saudi delegation said Attar would race in.The other women are judoka Wujud Fahmi, fencer Lubna al-Omair and 100m runner Cariman Abu al-Jadail.None qualified directly for their competition but will take part with special invitations from the International Olympic Committee.The Saudi Olympic Committee said there would be male and female competitors at the Games. But the women�s identities were not officially given.Women face significant obstacles to competing in sport, as other sectors of society, in Saudi Arabia. They must wear head-to-toe garments in public.
 Twenty-eight years after Hussain Shah from Lyari won bronze medal �Pakistan�s only Olympic boxing medal �at Seoul Olympics, his son Shah Hussain Shah is now set to represent Pakistan in the greatest extravaganza of sports in Rio, Brazil.</strongShah Hussain Shah, 23, is probably Pakistan�s only hope for a medal in Rio Olympics. He will be competing in Judo competition, 100 kg weight category.Having won a silver medal at the Glasgow commonwealth games in 2014, Shah Hussain Shah is now looking to reach the podium at the Olympics.Speaking exclusively to Geo News from Japan, where he lives with his parents, Shah Hussain Shah said that victories achieved by his father are benchmark for him and he�s looking to repeat his father�s success in Rio.�I am proud to be known as the son of Hussain Shah. His performances, achievements and victories are morale boosting for me, I have reached to this milestone of playing Olympics by looking at my father�s sporting achievements,� Shah told Geo News.�I have worked really hard, have trained with top Judokas here in Japan and I am looking forward to giving my best on the day of my fight,� he added.Shah Hussain Shah, who is also known as �Shah Baba� in his family, has full backing of his father Hussain Shah who won an Olympic Bronze in 1988.Hussain Shah, the legend boxer of Pakistan, says he is proud to see his son representing Pakistan in the Olympics. Shah Snr. is confident that his son will surely win a medal for the country.�I am very confident that Shah baba will win the medal for [the] country, he has worked really hard and as a sportsman, I can foresee his success,��When I went to take part in the Olympics, I was empty handed. I didn�t get any facility but Shah baba has got everything which can make him keep his chin up and I am sure he�ll make everyone proud,� said the legend boxer.Hussain Shah has also requested the countrymen to pray for his son's success at the Olympic.
 Rain interrupted play 40 minutes into the afternoon session with India at 456 for six on the third day of the second Test at Sabina Park in Jamaica on Monday.India led by 260 runs in reply to the hosts� first-innings total of 196.<br/> Ajinkya Rahane was 83 not out when the rains came, with Amit Mishra unbeaten on 21.
 Attacking half-centuries by Jermaine Blackwood and Roston Chase frustrated India�s push for victory as the West Indies added 167 runs to be 215 for five in the second innings at lunch on the final day of the second Test on Wednesday.Trailing from the first innings by 304 runs, the hosts will go into the afternoon session with the sixth-wicket pair of Chase (70 not out) and Shane Dowrich (33 not out) needing to further extend their resistance with the Indians pressing for the breakthrough in pursuit of victory and a 2-0 lead in the four-match series.Resuming on a sun-drenched last day with the innings in apparent ruins at 48 for four after just 15.5 overs were bowled on a rain-ruined day four, Blackwood and Chase took on all the Indian bowlers, unsettling them via a succession of boundaries as they scored at better than a run-a-minute.Blackwood could have been caught-and-bowled by Ravichandran Ashwin when on 37 but the bowler pulled his hands out of the way of a fearsome straight drive.Having blazed a run-a-ball 62 on the first morning of the match, the diminutive right-hander got to 63 off 54 balls with nine fours and two sixes when Ashwin made amends via an excellent catch by Cheteshwar Pujara at forward short-leg.His partnership with Chase was worth 93 runs at better than five runs per over.<br/> Any hopes the Indians had of scything through the rest of the batting were thwarted though by Dowrich, who also played positively in partnership with his fellow Barbadian.Their stand was already worth 74 runs by the interval with Chase becoming the first West Indian since Dwayne Bravo on the 2005 tour of Australia to take five wickets in an innings and score a half-century in the same Test match.�
 Sohail Khan marked his return to Test cricket after a five-year absence with a maiden five-wicket haul as Pakistan dismissed England for 297 on the first day of the third Test at Edgbaston.After Sohail sparked a top-order collapse, England were indebted to left-handers Gary Ballance (70) and Moeen Ali (63) for taking them to what could yet prove a challenging total.Sohail, a 32-year-old right-arm quick, removed a quartet of top-order batsman on his way to figures of five for 96 in 23 overs.Sohail�s return was all the more impressive as his previous two Tests -- against Sri Lanka at Karachi in 2009 and against Zimbabwe in Bulawayo in 2011 -- had yielded a combined haul of one for 245.A stress fracture of the back after last year�s World Cup provided a further check on his progress.Nevertheless, Sohail was recalled in place of Wahab Riaz as Pakistan broke up the all left-arm pace attack they had deployed for the first two Tests of this four-match contest following England�s 330-run series-levelling win at Old Trafford.Sohail took the new ball after Pakistan captain Misbah-ul-Haq won the toss on a gloomy morning, with some moisture in the pitch after overnight rain.Alex Hales fell for an unconvincing 17 when caught behind off a good-length Sohail ball.Joe Root had made a Test-best 254 at Old Trafford in a match where he and century-maker Alastair Cook, the England captain, scored 506 runs between them for just twice out.Misbah had described the pair as the "pillars" of England�s otherwise fragile top order. Pakistan knocked down the first of those pillars when Root, playing one of his favourite back-foot forcing shots, edged Sohail and was held by sometimes fallible slip fielder Mohammad Hafeez for just three.Left-handed opener Cook, carrying on from where he left off in Manchester, made 45 in 52 balls, including eight fours before Rahat Ali had him lbw.James Vince guided England to 100 for three at lunch. But on 39, an uncertain defensive prod outside off stump against Sohail saw Vince, yet to mae a fifty in his eight Test innings, edge low to second slip Younis Khan.Jonny Bairstow had rescued England from many a dire position in recent times.<br/> But he made just 12 before, trying to cut a sharply bouncing Sohail delivery, he was caught behind by opposing wicket-keeper Sarfraz Ahmed.Ballance, increasingly assured after a shaky start, hit 11 fours. But his 150-ball innings ended when a glance off leg-spinner Yasir Shah was well held by Ahmed, who made good ground to hold the tough chance in an example of Pakistan�s much-improved catching. Ballance�s exit ended a sixth-wicket stand of 66 with Ali.Chris Woakes, on his Warwickshire home ground, was then caught behind for nine off an excellent Rahat inswinger.Mohammad Amir, who appeared to be nursing a calf problem, then struck twice with the new ball, including removing Ali when the batsman�s loose drive saw Ahmed hold his fifth catch of the innings.Sohail, appropriately, ended the day�s play when had No 11 James Anderson lbw for five. The paceman kissed the ground in joy before Anderson reviewed to no avail.
 Salahuddin Ahmad Sallu, Adviser to the Chairman PCB (South) and Arshad Khan, G.M National Stadium presented a cheque of one million rupees to cricket legend Hanif Mohammad on behalf of PCB Chief Shaharyar M Khan, Najam Sethi and Board management as contribution towards his medical expenses. <br/> <br/> Hanif Mohammad was diagnosed with lung cancer three years ago. Hanif, who is also fondly called �little master�, had undergone chemotherapy and surgery for his lung cancer in 2013 in London. But the malicious decease has reappeared.<br/> <br/> Hanif appeared in 55 Tests for his country and had been one of the most prolific run scorers for Pakistan.
 The Olympic flame landed by boat in Rio de Janeiro on Wednesday to a welcome committee of samba dancers, cheering crowds and small protests ahead of the opening ceremony.After a torch relay passing through more than 300 towns and cities, the flame was taken by Brazilian Olympic sailing heroes Lars and Torben Grael on a yacht crossing from Niteroi to a naval academy.Rio Mayor Eduardo Paes stood on the dock to receive the flame, which burned in a brass lamp and was then used to light the torch.The mayor, widely seen as hoping to use the Olympics as a springboard for his presidential ambitions, then changed into sports clothes to start the relay through the host city. Costumed dancers and musicians from some of Rio�s most famous samba schools turned the occasion into a street party."Long live the Olympics and welcome to the Olympic flame in the most beautiful and incredible of all cities, the love of my life, Rio de Janeiro," Paes said.Lars Grael said his role in bringing the flame prompted "huge emotions."The torch was then passed on, from hand to hand, in a route snaking through the historic city center. It will criss-cross the city before being taken into the Maracana stadium late Friday to light the cauldron in the opening ceremony.Brazilians angry at the cost of the Olympics, failing social services, economic decline and corruption have mounted numerous protests along the torch relay route.There are also tensions over a political crisis in which suspended president Dilma Rousseff faces being ejected from office within weeks, to be replaced by her enemy Michel Temer.The torch was briefly extinguished during violent clashes between demonstrators and police last week in Angra dos Reis, a coastal resort south of Rio.
 Sohail Khan marked his return to Test cricket after a five-year absence with four wickets as Pakistan reduced England to 184 for five at tea on the first day of the third Test at Edgbaston on Wednesday.The 32-year-old right-arm quick removed a quartet of top-order batsman -- Alex Hales, Joe Root, James Vince and Jonny Bairstow -- on his way to tea figures of four for 61 in 16 overs.It was a return made all the more impressive as Sohail�s previous two Tests -- against Sri Lanka at Karachi in 2009 and against Zimbabwe in Bulawayo in 2011 -- had yielded a combined haul of one for 245.A stress fracture of the back after last year�s World Cup provided a further check on his progress.Nevertheless, Sohail was recalled in place of Wahab Riaz as Pakistan broke up the all left-arm pace attack they had deployed for the first two Tests of this four-match contest following England�s 330-run series-levelling win at Old Trafford.Sohail made the most of his chance after Pakistan captain Misbah-ul-Haq won the toss and fielded on a gloomy morning, with some moisture still in the pitch after overnight rain.An unconvincing Hales (17) fell when he was caught behind after edging a good-length Sohail ball.Root had made a Test-best 254 at Old Trafford in a match where he and century-maker Alastair Cook, the England captain scored 506 runs between them for just twice out. Misbah had described the pair as the "pillars" of an otherwise fragile-looking England top order.Pakistan knocked down the first of those pillars when Root, playing one of his favourite back-foot forcing shots, edged Sohail and was held by sometimes fallible slip fielder Mohammad Hafeez for just three.Sohail had taken two wickets for eight runs in nine balls and England were 48 for two.Left-handed opener Cook, carrying on from where he left off in Manchester, made 45 in 52 balls, including eight fours. But Rahat Ali had him lbw with a full-length ball that struck Cook on the front pad. Cook reviewed, more in hope than expectation, but was duly given out to leave England 75 for three.In seven Tests since England�s nailbiting two-run win over Australia in 2005 no team batting first had won a Test at Edgbaston.Vince, yet to make a fifty in his seven previous Test innings, again flirted with danger outside off stump before guiding England to 100 for three at lunch.On 39, an uncertain defensive prod outside off stump against Sohail saw Vince edge low to second slip Younis Khan.Bairstow had rescued England from many a dire position in recent Tests. But he made just 12 before, trying to cut a sharply bouncing Sohail delivery, he was caught behind by opposing wicket-keeper Sarfraz Ahmed.Sohail had taken two for six in 10 balls, with England now 158 for five.
 Sohail Khan led Pakistan�s attack on his return to international duty as Pakistan dismissed England "pillars" Joe Root and Alastair Cook before lunch on the first morning of the third Test at Edgbaston on Wednesday.At lunch, England were 100 for three, after Sohail had accounted for both opener Alex Hales (17) and star batsman Root (three) on his way to figures of two for 28 in eight overs.Rahat Ali then had England captain Alastair Cook lbw for a fluent 45.James Vince was 16 not out and Gary Ballance 18 not out.Right-arm quick Sohail was recalled for just his third appearance at this level in place of Wahab Riaz as Pakistan broke up the all left-arm pace attack they had deployed for the first two Tests of this four-match series.They also brought in Sami Aslam for struggling opener Shan Masood after England�s crushing and series-levelling 330-run win in the second Test at Old Trafford.But it was Sohail who had the first chance to show his skills after Pakistah captain Misbah-ul-Haq won the toss and fielded on an overcast morning.An unconvincing Hales fell when a good-length Sohail ball that cut away took the outside edge and was caught by wicket-keeper Sarfraz Ahmed.It was not long before England�s 36 for one became 48 for two.Joe Root had made a Test-best 254 at Old Trafford in a match where he and century-maker Cook scored 506 runs between them for just twice out.It was no wonder that Misbah, speaking on Tuesday, had described the pair as the "pillars" of an otherwise fragile England top order.Pakistan managed to knock down one of those pillars when Root, playing one of his favourite back-foot forcing shots, edged Sohail and was safely held by sometimes fallible slip fielder Mohammad Hafeez.Sohail had taken two wickets for eight runs in nine balls, with Vince, yet to score a Test fifty, walking out with England in trouble.Left-handed opener Cook, carrying on from where he left off in Manchester, struck eight fours -- including a straight drive off Rahat Ali -- in 52 balls.But Rahat had his revenge with a full ball that nipped back and hit Cook on the front pad.Umpire Joel Wilson gave Cook out lbw and the England skipper reviewed, more in hope than expectation.But Wilson�s decision was duly upheld and England had lost their second �pillar� at 75 for three.
 Pakistan captain Misbah-ul-Haq won the toss and asked England to bat first in overcast conditions in the third test in Birmingham on Wednesday.</strongThe four-match series is level at 1-1.England made one change to their team with fast bowler Steven Finn replacing injured all-rounder Ben Stokes.Pakistan brought in opening batsman Sami Aslam and fast bowler Sohail Khan in place of Shan Masood and Wahab Riaz.strong>England:</strong> Alastair Cook (captain), Alex Hales, Joe Root, James Vince, Gary Ballance, Jonny Bairstow (wicketkeeper), Moeen Ali, Chris Woakes, Stuart Broad, Steven Finn, James Andersonstrong>Pakistan:</strong> Mohammad Hafeez, Sami Aslam, Azhar Ali, Younus Khan, Misbah-ul-Haq (captain), Asad Shafiq, Sarfraz Ahmed (wicketkeeper), Yasir Shah, Mohammad Amir, Sohail Khan, Rahat Ali
 PTI chief Imran Khan urged the national cricket team to play their best cricket by fighting till the last ball, ahead of the third Test match between Pakistan and England at Edgbaston.</strongImran tweeted the statement and expressed the hope that the team would play the match without the fear of losing. dir="ltr" lang="en">�Pakistan take on England today at Edgbaston after a disappointing loss to the hosts in the second Test match at Manchester. Pakistan had begun the series triumphantly, beating England by 75 runs but lost the second Test match by a whopping 330 runs.�Before the start of the third match, Pakistan captain Misbah-ul-Haq had said that knocking down 'pillars' Joe Root and Alistair Cook was crucial and detrimental for the visitors to clinch the third Test.�The four-match Test series stands leveled at 1-1 so far.�
 Pele has been invited to light the Olympic pyre for the Rio Games on Friday but the Brazilian soccer great is checking with his sponsors to see if he is free to lead the torch ceremony in the Maracana stadium.</strong"I have a contract that I am bound to fulfil," Pele told Globo TV late on Tuesday, adding that he was consulting the U.S. company that holds the rights to his brand name whether he can take up the invitation from the Olympic organising committee."As a Brazilian, I'd love to do it," said the 75-year-old, who helped his country win the World Cup three times and would be launching the Games in the stadium where he scored his 1,000th goal in 1969.Pele later told reporters that International Olympic Committee President Thomas Bach and the head of the Brazilian committee Carlos Arthur Nuzman had personally asked him to light the pyre and that he would have an answer on Thursday.He said he would have to cancel a trip organised by his sponsors.Pele, regarded as the greatest player of all time, played in four World Cups and is the only player to have won it three times: in 1958 in Sweden, when he was just 17, in 1962 in Chile and in 1970 in Mexico.
 Rafael Nadal committed himself to playing singles, doubles and mixed doubles at the Olympics on Tuesday despite serious concerns over whether or not his left wrist injury will survive the gruelling challenge.</strong"After discussing it with my team, I have decided I will play everything that I can. We are here and practice has gone well -- more or less," said the 30-year-old Spaniard after an intense training session with compatriot David Ferrer."It�s not an ideal situation -- there are always risks but the MRI scan was OK." World number five Nadal spent a lengthy period after his practice session on centre court discussing his plans with the team doctor and team captain Conchita Martinez.He is scheduled to play doubles with Marc Lopez and mixed doubles with French Open champion Garbine Muguruza.Nadal hasn�t played at all since he was forced to quit the French Open before the third round after damaging tendons in his left wrist.He missed Wimbledon as a result. The protective brace he wore on his left wrist since Paris was missing on Tuesday.The 14-time Grand Slam title winner was the gold medallist at the 2008 Beijing Olympics but missed the 2012 London Games because of a knee injury.He is due to carry his country�s flag at Friday�s opening ceremony in Rio. Nadal�s decision to play in all three events was a major boost for the organisers who on Tuesday saw world number four Stan Wawrinka pull out with a back injury.Last week, world number three and 17-time major winner Roger Federer also withdrew and shut down his season to recover from a knee injury.Fellow top ten players Milos Raonic, Tomas Berdych and Dominic Thiem have also opted out of the Olympics.
 Azhar Ali�s patient century lifted Pakistan to 257 for three and a dominant position on the second day of the third test against England at Edgbaston on Thursday.</strongReplying to the home team�s 297 all out, Azhar shared a second-wicket partnership of 181 with Sami Aslam on the way to an excellent knock of 139 as England endured a frustrating day in the field.Aslam was run out for 82 after being called for a quick single by Azhar who was dropped twice before completing his 10th test century.England made an early breakthrough with the fourth ball of the day when Mohammad Hafeez cut James Anderson straight to Gary Ballance at point and was out for a duck.Anderson induced a rash stroke from Azhar shortly after lunch but Joe Root spilled a difficult catch at second slip and England�s anxiety increased.Azhar, also dropped by Moeen Ali off his own bowling, drove Steven Finn off the back foot for three to bring up his 21st test half century and Aslam, 20, swept spinner Moeen for four to reach his maiden test fifty in his third match.Azhar got to three figures by gloving a Stuart Broad bouncer to the fine leg boundary, celebrating the milestone with 10 press-ups.He continued to punish the England attack, hitting a total of 15 fours and one six, before edging the last ball of the day from Chris Woakes to Alastair Cook at first slip.Younus Khan was unbeaten on 21 at the close.The four-match series is level at 1-1.
 Former off-spinner Saqlain Mushtaq feels that Pakistan batsmen will have to show patience and stay on the crease if they want to put reasonable score on the board against England in the ongoing third Test in Birmingham.</strong�Technically English batsmen are very sound. They can also stay at the wicket and play long innings. If they faced problems against Pakistan pacers in their first innings, then Pakistan batsmen too can face difficulties,� he said.Saqlain�s services were hired by England as spin consultant for the second Test at the Old Trafford Test. His suggestions paid dividends as the English batsmen first tackled Yasir Shah efficiently before their spinner Moeen Ali caused troubles for the Pakistani batters.Saqlain was also of the opinion that Yasir Shah would earn repute if he managed to bounce back in the ongoing Test from his poor show in the second Test.
 Pakistan recovered from the early loss of Mohammad Hafeez to move carefully on to 72 for one at lunch on the second day of the third test against England in Birmingham on Thursday.</strongReplying to the hosts� 297, Hafeez cut the fourth ball of the innings bowled by James Anderson to Gary Ballance at point to give England the perfect start.But Sami Aslam and Azhar Ali showed great restraint against the England seamers, leaving the ball well and reining in their attacking instincts to build a solid platform for their side.Aslam was unbeaten on 27 at the interval with Azhar on 38.The four-match series is level at 1-1.
strong>Manny Pacquiao will take on American World Boxing Organisation welterweight champion Jessie Vargas when he returns to the ring on November 5, according to the Filipino boxer's manager Michael Koncz.</strong"Retirement doesn't suit Manny right now," Koncz told the Los Angeles Times of the former eight-division world champion."Boxing is in his blood. When he trains, it's like a pressure-release valve. You can see a dramatic difference in his mood... he's happy. It's amazing what training and fighting does for him."Pacquiao (58-6-2) had announced his retirement after defeating Timothy Bradley in April and was elected to the Philippines' senate in May. His promoter Bob Arum announced last month that he would fight again in November.Arum tweeted earlier this week that he would travel to the Philippines for a meeting on August 10 to discuss the 37-year-old southpaw's return.Koncz, who will also attend the meeting, said the trio were not discussing a potential opponent, but whether to stage the bout in Los Angeles or Dubai."That's the essence of the meeting," Koncz added. "Not choosing the opponent. That's already been done."Pacquiao's unanimous decision win over Bradley was his first fight in nearly a year after his tame loss to Floyd Mayweather. He had said he was bringing the curtain down on his career to concentrate on politics and his family.The 27-year-old Vargas (27-1) beat fellow American Sadam Ali in March to claim the WBO welterweight crown and has won 10 of his bouts via a knockout or stoppage, with his only defeat coming via a points loss to Bradley in June 2015.
 Disgraced former FIFA president Sepp Blatter has admitted his six-year ban from all football-related activity has taken a toll on his mental health.</strongIn an interview with German broadcaster ZDF to be screened Thursday night, the 80-year-old Swiss says the ban has left �a mark� on him as he continues the fight to prove his innocence."I�ve been marked by it, because of what happened to me, this attack on FIFA shocked me. I suffer to this day because of this blow," he said in the interview, filmed at his home in the Swiss canton Valais.Blatter, who underwent treatment for skin cancer last month, has taken the fight to clear his name to the Court of Arbitration for Sport (CAS) against the ban, imposed on him and ex-UEFA president Michel Platini in December 2015 by FIFA�s Ethics Committee, for a dubious payment of 1.8 million euros ($2m).Blatter has always protested his innocence and is convinced his name will be cleared by CAS when his hearing takes place on August 25 in Lausanne, Switzerland."I am not corrupt!" insisted Blatter."The whole situation will be clarified, and it will happen, I am 100 percent convinced of that: nothing will stick to Blatter."In December 2015, FIFA judges originally banned Blatter and Platini for eight years over the payment Blatter sent to Platini in 2011.An appeals body at world football�s governing body reduced their bans to six years in February, citing mitigating circumstances.Blatter and Platini have claimed the funds were part of a legitimate verbal contract in connection with consulting work that Platini did for FIFA between 1999 and 2002.Blatter is under criminal investigation in Switzerland over the transaction and other aspects of his management of FIFA.
 Two members of the small Pakistani contingent participating at the Rio Olympics have the country's military to thank for much of their training.</strongGhulam Mustafa Bashir, a 29-year-old Navy Marine, and Minhal Sohail, a 21-year-old university student, will both compete in shooting events at the Games.Bashir will participate in the 25-metre rapid fire pistol event for men, while Sohail will compete in the women's 10-metre air rifle event.Both sharp shooters trained with the Pakistan Navy, and Sohail is the daughter of a naval officer.Sohail got her start in shooting at a Navy summer camp in her hometown of Karachi and has since participated in numerous Asian championships."It's a once in a lifetime opportunity to take part in Olympics," she said.Bashir said he only started competitive marksmanship in 2010 when he joined the Navy team."Pakistan Navy is making a great effort to promote shooting in Pakistan. Navy was the first to introduce electronic targets, and since then, we have made great improvement," Bashir told Reuters as he practised before leaving for Rio.The military training is necessary because Pakistan's government and private sports structure has weakened.Pakistan's sporting decline has left the vast South Asian nation that once prided itself on producing the world's top hockey and squash players facing up to an Olympics for which none of its athletes have qualified.The seven participants representing the country at the Rio Games have all been given wildcard entries and stand 'no chance' of winning medals, according to Arif Hasan, the Pakistan Olympic Association president.
 Australia�s pace spearhead Mitchell Starc on Thursday bagged his 100th Test wicket during his team�s second match against Sri Lanka in Galle.</strongStarc dismissed the in-form Sri Lankan batsman Kusal Mendis, to the reach the milestone in the second session of the opening day�s play.The left-arm pacer, who also snared opener Dimuth Karunaratne with the first ball of the match, is the 37th Australian bowler to reach a century of Test wickets.The 26-year-old speedster from New South Wales, who is playing in his 27th Test, made his debut against New Zealand in 2011. He has also taken 98 wickets in 51 one-day internationals.
 England's Ben Stokes has been ruled out of the fourth and final test against Pakistan at The Oval due to a calf injury but the all-rounder refused to write off his chances of playing in the subsequent limited overs matches against the same opponents.</strongThe 25-year-old broke down while bowling during England's series-levelling win against the tourists at Old Trafford last week and was replaced by fast bowler Steven Finn for the ongoing third test in Birmingham.Stokes had only just returned to the England side after spending a spell on the sidelines following knee surgery in May."There was a possibility of being fit for the last test but rather than risk more damage we decided to take it easy," he told the BBC. "It's been frustrating but I haven't written my summer off yet."The four-test series is currently level at 1-1 and England were dismissed for 297 at the end of the first day of the third test on Wednesday. The final test starts on August 11.
 Sweden�s women claimed the first victory of the Olympic football tournament 1-0 over South Africa as Rio 2016 got off to an underwhelming start on Wednesday.The sight of vast swathes of empty seats at the 60,000 capacity Olympic stadium in Rio will have embarrassed organisers at the first action of the Games.Nilla Fischer bundled home the only goal of the game after South African goalkeeper Roxanne Barker fumbled a cross to give the Swedes a perfect start.A much bigger crowd is expected at the same venue later Wednesday when hosts Brazil take on China in the other game in Group E.Both the men�s and women�s football tournaments are being staged in six cities across Brazil that also hosted the 2014 World Cup.World champions and four-time gold medallists the United States begin their campaign later in Belo Horizonte against New Zealand before Colombia and France also face off in Group G.Two-time world champions Germany are expected to sweep aside Zimbabwe in their Group F opener.2015 World Cup quarter-finalists Canada and Australia complete a busy first day of action in Sao Paulo.�
 England fought back strongly to leave the third Test against Pakistan hanging in the balance after an enthralling third day in Birmingham on Friday.Earlier, Pakistan were bowled out for 400 in reply to England�s first innings 297, a lead of 103 runs. Azhar Ali made 139, his first Test century outside of Asia and recalled left-handed opener Sami Aslam 82. Misbah-ul-Haq�s 56 on Friday was his third fifty of the series, while wicket-keeper Sarfraz Ahmed bolstered Pakistan�s total with an unbeaten 46.Then, Alastair Cook and Alex Hales took England to 120 for no wicket in their second innings at the close, 17 runs ahead with two days remaining at Edgbaston.Cook was 64 not out and Hales 50 not out, with the duo having compiled their first century stand in 18 innings together as a Test match opening pair.Pakistan moved on to 336 for five at lunch and looked set to establish a commanding first-innings lead but England picked up their last five wickets quickly to get a foothold in the match.Cook and Hales batted positively, the former ending on 64 not out and Hales taking a single off the final ball of the day to reach his first fifty of the series which is level at 1-1.After resuming on 257 for three, Pakistan lost the key wicket of Younus Khan in the morning session but captain Misbah-ul-Haq led from the front with a combative 56.Misbah was bowled by James Anderson before England�s leading strike bowler was ordered out of the attack for the rest of the innings after transgressing cricket�s follow-through laws for a third time.Anderson had apologised to the umpires on Thursday for his reaction to receiving his first two warnings for running on the pitch.Stuart Broad and Chris Woakes claimed three wickets each to run through Pakistan�s lower order.
 South Korean archer Kim Woo-Jin grabbed the first world record of the Rio Olympics on Friday -- before the Games had even officially begun.The opening ceremony later Friday promises to be a party, but the world number one and a quadruple world champion was already celebrating after scoring a world record 700 for 72 arrows in the men�s individual ranking round at the Sambodromo.Kim, 24, went just one point better than the previous record, set by compatriot Im Dong-Hyun in London four years ago.Kim beat off the American Brady Ellison (690 points), who won silver in London, and David Pasqualucci of Italy (685 pts).
Birmingham, United Kingdom, Aug 5, 2016 (AFP) -Pakistan were bowled out for 400 in reply to England�s first innings 297, a lead of 103 runs, at tea on the third day of the third Test at Edgbaston on Friday.Azhar Ali top-scored with 139 and recalled opener Sami Aslam made a Test-best 82 in an innings where Pakistan captain Misbah-ul-Haq�s 56 was his third fifty of the series.Sarfraz Ahmed was 46 not out.Chris Woakes, in the all-rounder�s first Test match on his Warwickshire home ground, led England�s attack with three for 79, while Stuart Broad took three for 83 as Pakistan kept England in the field for more than 10 hours in total.James Anderson, England�s all-time leading wicket-taker, took two for 54 in 29.1 overs before he was barred from bowling in the remainder of the innings after receiving a third warning from the umpires for running on the pitch.The four-match series is level at 1-1.�
 Mitchell Starc took six wickets Friday as Australia bowled Sri Lanka out for 237 in their second innings of the second Test, leaving the visitors with a daunting target of 413 as they seek to save the series.Starc led Australia�s fightback in Galle after they had earlier been bowled for a record low of 106, thanks in part to a hat-trick from Sri Lankan spinner Rangana Herath.It was the Australia�s lowest total in 28 Tests against Sri Lanka and came in response to a first innings total of 281 by the hosts.Paceman Starc took six for 50 but the Sri Lankans were still able to set a formidable target as they look to clinch the three-match series with a game to spare after their victory in the first Test at Pallekele.Dilruwan Perera top-scored for Sri Lanka with 64 and he received good support from his skipper Angelo Mathews who followed up his half-century in the first innings with 47.Starc�s overall match figures of 11-54 were not only his personal best in 27 Tests but also the best by an Australian bowler in Sri Lanka.Brief scores:Sri Lanka 281 and 237 all out in 59.3 overs (Angelo Mathews 47, Dilruwan Perera 64; Mitchell Starc 6-50, Nathan Lyon 2-80)Australia 106 all out in 33.2 overs (David Warner 42, Mitchell Marsh 27; Rangana Herath 4-35, Dilruwan Perera 4-29)
 Pakistan captain Misbah-ul-Haq patiently steered his side into a first-innings lead over England on the third day of the third Test at Edgbaston on Friday.At lunch, Pakistan were 336 for five -- 39 runs ahead of England�s 297. Misbah was 44 not out, his so far two-hour innings featuring five fours in 89 balls. By contrast, Sarfraz Ahmed had made a typically brisk 20 not out off just 27 ballsPakistan had scored at a modest rate of barely three runs an over during Friday�s morning session but they had now kept England in the field for nearly eight-and-a-half hours in total.With the four-Test series all square at 1-1, Pakistan resumed on 257 for three after Azhar Ali had been dismissed for 139 off the last ball of Thursday�s play, following partnerships of 181 and 76 with Sami Aslam (82) and Younis Khan (21 not out), respectively.All-rounder Chris Woakes, who had dismissed Azhar, struck again on his Warwickshire home ground when he got rid of Younis for 31.Younis has developed a habit of walking well across his stumps and it meant that when he tried to glance Woakes he was caught down the legside by Jonny Bairstow, rather than the ball evading the wicket-keeper�s gloves.Later, a full-length deliveryfrom Broad smashed into Asad Shafiq�s off stump for an 18-ball nought to leave Pakistan 296 for five, still one run behind.However, Misbah�s single to third man off Broad saw Pakistan into the lead.
 The statue of Christ the Redeemer overlooking Rio de Janeiro was illuminated in Brazil's yellow and green national colors on Thursday as the city put the finishing touches to its preparations for South America's first Olympics.</strongWorkers rushed to install wiring and put up signs at venues as the Olympic flame made its way through the city of 6 million carried by a succession of sportsmen, stars and even a Nobel laureate, to cheers from thousands of residents who succumbed to the excitement of the Games.It was a far cry from the previous evening, when riot police had used stun grenades and tear gas to clear protesters from the torch's path in a poor suburb of Rio, fuelling complaints that the Games have ignored the city's poor.Those anti-torch demonstrations - the second in two days - underscored simmering social tensions in Latin America's largest nation amid its worst economic downturn since the Great Depression and a political crisis that has deeply divided the country.That resentment was nowhere to be seen on Thursday as the torch progressed through the well-heeled districts of Barra de Tijuca, where the Games will be held."It's impossible to explain the emotion of carrying the torch," said Brazil's double World Cup winning soccer captain Cafu, who joined Nobel peace prize winner Muhammad Yunus in carrying the Olympic flame on its penultimate day.Brazil will open its Games on Friday in the famed Maracana soccer stadium with a ceremony showcasing samba and the drumming made famous by Rio's Carnival celebrations - which will be watched by 50,000 in the arena and an estimated 3 billion around the world by television.The torch rode the waves into Rio on Thursday in the hands of veteran Brazilian surfer Rico de Souza, a day after the International Olympic Committee (IOC) announced surfing - a major pastime in Brazil - would be one of five new sports included in the 2020 Olympics."It was incredible for us. We've been waiting for a long time for the Olympics and for surfing to be part of the Games," said local surfer Milton Roberto, among hundreds of fans who cheered Souza as he did laps of Macumba beach after carrying the torch out of the ocean.Some 500,000 foreign visitors are descending on the iconic beach city. They are protected by 85,000 police and soldiers, more than double the number of security personnel in the 2012 Games in London.The brief abduction of three Swedish tourists by armed men on Wednesday after they stopped to take photos near a dangerous slum highlighted the security challenges facing organizers. The three were released unharmed, authorities said.The opposition has called a demonstration against interim President Michel Temer's government for Friday outside the Maracana stadium, accusing him of conducting a 'coup' against suspended leftist President Dilma Rousseff, who is being placed on trial in the Senate.The tense political atmosphere may have deterred some foreign leaders from attending the Games, with Brazilian presidency sources saying only 28 heads of state have confirmed their presence - around half what was expected last week.French President Francois Hollande, whose country is bidding for the 2024 Games, toured Rio de Janeiro's Olympic Park on Thursday, met with members of his national swim team and posed for photos in front of the Olympic rings.The volatile political situation has added to concerns over crime, water pollution, late infrastructure and an outbreak of the Zika virus in northern Brazil earlier this year that clouded the build-up to the Games.The mayor's office declared holidays on Thursday and Friday to ease persistent problems with traffic.The Olympic soccer competition entered a second day on Thursday with Brazil eking out a disappointing 0-0 draw against South Africa in the national stadium in the capital Brasilia. Soccer is the only sport with games taking place outside the host city.Fans of the national team watched the game in the rehabilitated Pra�a Mau� square by Rio's port, home to a new museum and water-front promenade built for the Games. The area will house the Olympic pyre during the Games.
 Pakistan flag has officially been hoisted at the Rio Olympics Village during a welcome ceremony of the Pakistan contingent on Thursday.</strongAccording to information received from Shaukat Javed Chef de Mission of the Pakistan contingent in Rio de Janeiro here on Friday it was a great moment to see Pak flag hoisted in the village alongside the national flags of scores of other countries.President POA Lt. Gen. (retd) Arif Hasan was also present on the occasion.The Pakistani contingent was welcomed by the Mayor of Olympic Village.Shaukat Javed who is also vice president of POA exchanged souvenirs with the Mayor on the occasion.Shaukat said it has also been decided that Pakistan s flag will be carried by shooter Ghulam Mustafa Bashir in the ceremony of the Olympics.Mustafa along with a female shooter Minal and judo player Shah Hussain are the only three players from Pakistan out of total seven participating in the Olympic who have qualified for the Olympics, said the Chef de mission.The other four players two each from athletics and swimmers including a man and a woman are making the trip on their wild card entries, he added.
 Rangana Herath became the first Sri Lankan spinner to bowl a hat-trick in Test cricket to put Australia in deep trouble in their match in Galle on Friday.</strongThe left-arm bowler dismissed Adam Voges, Peter Nevill and Mitchell Starc off consecutive deliveries as the visitors struggled to match Sri Lanka�s first innings score of 281 in the second Test.Starc�s dismissal left the visitors teetering at 80 for seven in the morning session of the second day�s play.Herath, 38, is only the second Sri Lankan to take a Test hat-trick after former fast bowler Nuwan Zoysa, who managed the feat with his first three balls in a match against Zimbabwe in 1999.
 Rio Olympic spectators might be forgiven for thinking they are hearing things when the boxer Muhammad Ali steps in to the ring.</strongTwo months after the death of the heavyweight legend, his namesake from Britain is tipped to make his own piece of history with gold in Rio.Unlike the original Ali, Britain�s version is a diminutive 20-year-old flyweight who was reportedly bestowed the most famous name in boxing by his boxing-mad father.And he has impressed former world champion Amir Khan, whose exploits at the Athens 2004 Olympics triggered the young Ali�s interest in boxing.Ali, a silver medallist at the Youth World Championships, received a bye in the draw on Thursday.
 Andy Murray came perilously close to "poking out the eye" of Britain�s Princess Anne in a botched dress rehearsal for Friday�s Olympic Games opening ceremony where he will carry the country�s flag.</strongTennis star Murray, the defending Olympic champion, will lead out the British team in what he describes as one of the proudest moments of his career.But the 29-year-old admitted that Wednesday night�s photo-call with the daughter of Britain�s Queen Elizabeth, and other members of the team, could have gone a lot better."I ended up putting the flag in front of Princess Anne�s face," said the Wimbledon champion.<br/>"The flag is huge and as soon as I tipped it, it was covering someone�s face."It has a big, sharp point on top of it and she said something like �make sure you don�t poke my eye out�."I hope she was OK. I didn�t mean to do it. I was just following instructions. Last night didn�t go well. I�ll have to try and get more practice in before tomorrow."
 Britain�s Adam Peaty launched his Rio Olympic campaign with a bang, clocking a world record 57.55sec in the heats of the 100m breaststroke on Saturday.Peaty lowered the world mark of 57.92 that he set in London on April 17, 2015.
 Jonny Bairstow and Moeen Ali both scored dashing fifties as England wrested the initiative from Pakistan on the fourth day of the third Test at Edgbaston on Saturday.At stumps, England were 414 for five in their second innings, a lead of 311 runs.<br/> Bairstow was 82 not out and Ali 60 not out after they had added an unbroken 132 for the sixth wicket ahead of Sunday�s final day.Pakistan will now have to set a new record for the Birmingham ground if they are to go 2-1 up in the four-match series, as the most any side have made in the fourth innings to win a Test at Edgbaston is South Africa�s 283 for five in 2008.England had been well-placed at 120 without loss overnight. But openers Alastair Cook and Alex Hales both went early on Saturday as Pakistan took two wickets for no runs in nine balls.Joe Root (62) and James Vince (42) stopped the rot during a painstaking stand of 95.Leg-spinner Yasir Shah struck either side of tea to dismiss Root and Gary Ballance. But the pair�s Yorkshire colleague Bairstow, in at 257 for four, scored briskly and he received excellent support from Ali as they overpowered a tiring Pakistan attack featuring just four frontline bowlers.England scored 152 runs in Saturday�s final session, after managing 142 runs in the first two sessions combined.Play resumed Saturday with England captain Cook 64 not out and Hales 50 not out after they had erased a first-innings deficit of 103 with their maiden century stand in 18 innings as a Test-match opening pair. But Pakistan soon removed both batsmen.Left-hander Cook (66) pushed out to first-innings five-wicket hero Sohail Khan and a diving Shah held an excellent catch at point.Mohammad Amir then turned 126 for one into 126 for two when Hales (54) edged a seaming delivery from the left-arm quick and Younis Khan held a difficult low chance at second slip.Root, who made a Test-best 254 in England�s 330-run series-levelling win at Old Trafford, struck two superb fours off Sohail -- a back-foot force followed by a cover-drive.Root, however, had a reprieve on 25 when he edged Rahat Ali only for Mohammad Hafeez to drop the low, two-handed, chance at first slip.It was tough on left-arm paceman Rahat, who bowled superbly in reeling off five straight maidens in a spell of seven overs for just seven runs.After lunch, Root pulled Shah for a boundary that saw him to a 108-ball fifty.<br/> But Shah, bowling into the rough outside leg stump, had his revenge when Root, not for the first time this season, mistimed a sweep and gave a simple catch to Hafeez at short fine leg.Vince, yet to make a fifty in nine Test innings, had been composed in equalling his highest score at this level of 42. But he too fell in familiar fashion when, flirting outside off stump against the new ball, he wastefully guided Amir to second slip Younis.England, 262 for four at tea, lost Ballance (28) on 285 when Shah, bowling round the wicket, had the left-hander well caught by leg slip Asad Shafiq off a genuine glance. But Ali cover-drove Shah for four and, two balls later, he whipped him for another four wide of mid-on.Bairstow clipped Sohail off his pads and swept Shah for two well-struck fours on his way to a 69-ball fifty. Left-hander Ali, to chants of �Moeen, Moeen Ali� from a crowd of more than 15,500, followed Bairstow to the landmark in 64 balls.�
 Italy�s Carmine Tommasone on Saturday became the first professional in history to step in to an Olympic boxing ring -- and celebrated by teaching his opponent a harsh lesson in Rio.Tommasone, 32, who came into the lightweight bout with a perfect 15-0 record, simply had too much speed, power and guile for Mexico�s Lindolfo Delgado and was deservedly awarded a unanimous points decision by the judges at ringside.The Italian hurt the taller Mexican, 21, in round two with a clumping overhand right that had Delgado smiling and urging the Italian to bring it on -- begrudging recognition that the punch hurt.He continued to bamboozle Delgado in the third and final round, hitting the Mexican around with combinations that Delgado had no reply to."I am very proud," Tommasone said of being the first boxing pro at an Olympics.<br/> "I was asked by my federation to come to the Olympics and I was very happy to do so -- for me, it�s the most important competition in the world."The decision to include professionals at the Olympics only came in June and was met with a chorus of disapproval.Only three professionals including Tommasone made it to Rio.�
 Opener Tom Latham scored his second consecutive century in Zimbabwe as New Zealand�s batsmen dominated the opening day of the second Test at Queens Sports Club on Saturday.Latham�s 105 set New Zealand up for a mammoth total and crushing victory in the first Test, and he bettered that score to give the Black Caps a commanding platform.The 24-year-old recorded his fifth Test century and went on to make 136, before succumbing to what proved to be the final ball of the day as New Zealand closed on 329 for two.Zimbabwe�s bowlers claimed just six wickets in a horribly one-sided first Test, and endured a similarly frustrating day on another docile pitch on Saturday.With the seamers lacking in pace, Latham and Martin Guptill had no trouble seeing off the new ball and went on to construct an opening stand of 169.Guptill was eventually dismissed in the hour before tea when Donald Tiripano snuck a straight delivery through his defences to trap him lbw for 87.But any joy for Zimbabwe was short-lived, as Latham went on to add 160 for the second wicket with Kane Williamson.Latham failed to see out the day when he was caught and bowled by left-arm spinner Sean Williams, but Williamson went to stumps unbeaten on 95, within touching distance of becoming the first New Zealand batsman to score a century against all nine Test nations.The day also saw Zimbabwe�s fans stage a peaceful protest against President Robert Mugabe�s government when they rose as one at the end of the 36th over to sing the national anthem.The number signified the number of years that Mugabe has been in power, and the action was initiated by the #ThisFlag citizen movement that has brought stayaways and public demonstrations across the country over the past six weeks.<br/> Their call to action drew the biggest crowd that Queens had seen during the series.�
 Pakistan�s Yasir Shah took the key wicket of Joe Root as England found runs hard to come by on the fourth day of the third Test at Edgbaston on Saturday.At tea, England were 262 for four in their second innings -- a lead of 159 runs -- after losing both Root (62) and James Vince (42).Root�s Yorkshire team-mates Gary Ballance (21 not out) and Jonny Bairstow (two not out) were unbeaten after a session where England managed just 79 runs in 26 overs.With the four-match series all square at 1-1, England resumed on 120 without loss, 17 runs in front.Alastair Cook, the England captain, was 64 not out and Alex Hales 50 not out after they had erased a first-innings deficit of 103 with their maiden century stand in 18 innings as a Test-match opening pair.But Pakistan removed both batsmen inside Saturday�s first five overs during a dramatic burst of two wickets for no runs in nine balls.Left-hander Cook (66) pushed out to Sohail Khan and a diving Shah held an excellent catch at point.Mohammad Amir then turned England�s 126 for one into 126 for two when Hales (54) edged a seaming delivery from the left-arm quick and Younis Khan held a difficult low chance going to his right at second slip.Root, who made a Test-best 254 in England�s 330-run series-levelling win at Old Trafford, countered with two superb fours in four balls off Sohail -- a back-foot force followed by a cover-drive.The latter shot has often proved Vince�s undoing in his brief Test career.But it is also one of the Hampshire batsman�s best strokes and it enabled him to get off the mark with a stylish four off Amir.Root, however, had a reprieve on 25 when he edged Rahat Ali only for Mohammad Hafeez to drop the low, two-handed, chance at first slip.It was tough on left-arm quick Rahat, who reeled off five successive maidens in a probing spell of seven overs costing just seven runs.At lunch, England were 183 for two -- a lead of 80 runs.<br/> After the interval, Root pulled leg-spinner Shah for a boundary that saw him to a 108-ball fifty with his sixth four.Vince followed up with a fine leg glance for four off Shah.Sohail, altering his line, almost got Root to play on.But it was Shah, bowling into the rough outside leg stump, who made the breakthrough.Root, not for the first time this season, mistimed a sweep and gave a simple catch to Hafeez at short fine leg.Root�s exit ended a stand of 95 in 36 overs with Vince that had taken England to 221 for three.Vince, yet to make a fifty in nine Test innings, had been composed in equalling his highest score at this level of 42.But he too fell in familiar fashion when, flirting outside off stump against the new ball, he guided Amir to second slip Younis with the kind of shot usually reserved for coaches giving fielding practice.
 Hundreds of protestors waved Zimbabwe�s national flag and sang the national anthem during a cricket match against New Zealand on Saturday, in a sign of mounting opposition to President Robert Mugabe.Circumventing laws which forbid political gatherings without police clearance, protestors at the ground in Bulawayo, the country�s second largest city, rose at the 36th over and began singing the national anthem while waving the national flag,which has been turned into a symbol of protest."I am in complete support of the protest because of the situation in the country," activist Mandla Dungeni told AFP."We need to get the message across that it�s time up, using whatever means available to us. There will be more of these and I am certain they will have the desired impact."A woman who asked to be identified as Rose said: "It�s difficult to fend for ourselves let alone send our kids to school. It�s not a secret that this government has failed. That is why you are seeing all these people gathered here are concerned about how things are."Pastor Evan Mawarire who called for a national strike last month which shut down businesses and schools and paralysed the public transport system was behind the protest, according to a video he posted on Facebook.Police had earlier arrested at least 10 members of the pressure group Women of Zimbabwe Arise (WOZA) who staged a protest outside the venue of the Test match calling on Mugabe to fix the ailing economy or step down."Mugabe Must Go" one placard read, and another protestor called for resistance to a government plan to introduce token bank notes to ease cash shortages. The demonstration was dispersed by mounted police.After 36 years of Mugabe�s authoritarian rule, Zimbabwe has seen a rise in opposition protests fuelled by internet activism using the hashtag "ThisFlag" - a reference to wearing the national flag in public.On Wednesday hundreds of protestors held a march in the capital calling on 92-year-old Mugabe to step down over worsening economic troubles which have seen banks running short of cash and the government failing to pay its workers on time.Three weeks ago, Zimbabwe�s independence war veterans, who had been loyal allies of Mugabe, issued a strongly-worded statement calling on him to step down.Despite his advanced age, the president has fought back, vowing to crack down on leaders of the protests.The ruling party on Thursday expelled four war veterans suspected to be behind the criticism.�
 Opening batsman Tom Latham closed in on his second consecutive century in Zimbabwe as New Zealand made a dominant start to the second Test in Bulawayo on Saturday.Latham was unbeaten on 78 as New Zealand went to tea on the opening day on 206 for one after they won the toss and elected to bat.The left-hander scored 105 in the first Test, which New Zealand won by an innings and 117 runs, and continued that good form on the first day of the second and final Test.With Zimbabwe�s pace-shy seamers failing to threaten on a placid pitch, Latham put on an opening partnership of 169 with Martin Guptill, who made 87.The hosts finally made a breakthrough in the hour before tea, when Donald Tiripano snuck a delivery through Guptill�s defences to trap him lbw.The only other drama on the opening day saw Zimbabwe�s fans stage a peaceful protest against President Robert Mugabe�s government when they rose as one at the end of the 36th over to sing the national anthem.The action was an initiative of the #ThisFlag citizen movement that has brought stayaways and public demonstrations across the country over the past six weeks. <br/> Their call to action brought the biggest crowd that Queens had seen during the series.The Zimbabweans made three changes to their side for the second Test, with wicketkeeper-batsman Peter Moor making his Test debut and opening batsman Tino Mawoyo and offspinner John Nyumbu also brought in.Regis Chakabva, Brian Chari and the injured Hamilton Masakadza were the players to make way.New Zealand announced an unchanged side from the one that won the first Test so easily, as Kane Williamson and Tim Southee earned their 50th Test caps.�
 Joe Root led England�s recovery after Pakistan took two early wickets on the fourth day of the third Test at Edgbaston on Saturday.</strongAt lunch, England were 183 for two in their second innings -- a lead of 80 runs -- after losing openers Alastair Cook and Alex Hales.Root dropped on 25 and struggling with a longstanding back problem, was 34 not out, with James Vince 20 not out in an unbroken third-wicket partnership of 57.With the four-match series all square at 1-1, England resumed on 120 without loss, 17 runs in front.Cook, the England captain, was 64 not out and Hales 50 not out after they had erased a first-innings deficit of 103 with their maiden century stand in 18 innings as a Test-match opening pair.But Pakistan removed both batsmen in a dramatic burst of two wickets for no runs in nine balls.Left-hander Cook (66) pushed out to Sohail Khan and a diving Yasir Shah held an excellent catch at point.Sohail had bowled a lacklustre spell Friday after marking his return to Test cricket following a five-year absence with five for 96 in England�s first-innings 297.But, publicly upbraided by Pakistan coach Mickey Arthur after Friday�s stumps, Sohail now whistled a delivery past new batsman Root�s nose.But it was left-arm quick Mohammad Amir who turned England�s 126 for one into 126 for two when Hales (54) edged a seaming delivery and Younis Khan, held a difficult low chance going to his right at second slip.Root, who made a Test-best 254 in England�s 330-run series-levelling win at Old Trafford, countered with two superb boundaries in four balls off Sohail -- a back-foot force followed by a cover-drive.The latter shot has often proved Vince�s undoing in his brief Test career.But it is also one of the Hampshire batsman�s best strokes and it enabled him to get off the mark with a stylish four off Amir.Root, however, had a reprieve on 25 when he edged Rahat Ali only for Mohammad Hafeez to drop the low, two-handed, chance at first slip -- a rare blemish in an otherwise much-improved Pakistan catching effort this match.It was tough luck on left-arm quick Rahat, who reeled off five successive maidens in a probing spell of seven overs costing just seven runs.
 England opener Alex Hales has given a partial refund to a spectator who complained about the slow over-rate during the the ongoing third Test against Pakistan at Edgbaston.</strongBetween them, England and Pakistan only managed to bowl 81 of a scheduled 90 overs on Friday�s third day.The fault mainly lay with England, who fell behind the rate early on and left Pakistan with a marathon 44 overs to bowl in the day�s final session by the time they had dismissed the tourists on the stroke of tea.Unsurprisingly, Pakistan failed to get through all those overs before the scheduled 6:30pm (1730 GMT) cut-off time for close of play.Upset fan Alexis Fuller, who was in the Edgbaston crowd on Friday, contacted several England players to ask for a 10 percent refund after Michael Vaughan, the former England captain, pointed out that only 81 overs had been bowled."I want 10% of my money back," Fuller wrote. "Wouldn�t go to football and find it ended after 80mins."Hales, who was 50 not out at stumps, following an unbroken 120-run stand with England captain Alastair Cook, replied saying: "ok DM me your bank details I�ll do it now".Fuller after posted a picture on social media that appeared to show a payment of �4.10 from Hales into his account.Fans attending Edgbaston on Saturday saw Hales bat for less than 10 percent of the day�s play after he was out for 54 in the fifth over of the morning to leave England 126 for two in their second innings.
 Off-spinner Dilruwan Perera bagged six wickets to fashion Sri Lanka�s historic series win over Australia Saturday as the world number one side suffered a humiliating 229-run loss inside three days in the second Test in Galle.</strongAustralia, chasing a challenging 413 for victory, were bundled out for 183 after lunch as Sri Lanka, who won their last series against the visitors in 1999, took an unassailable 2-0 lead in the three-match rubber.Veteran spinner Rangana Herath set up the win for the hosts with his maiden Test hat-trick which helped dismiss Australia for a record low of 106 in their first innings.Australia faltered in their second outing as well after Perera, who registered his career-best figures of 6-70, sent the visitors packing in just 50.1 overs as the Sri Lankan players went into a celebratory huddle.Overnight batsmen David Warner and skipper Steven Smith offered some resistance with their 51-run fourth wicket partnership but both of them fell to Perera�s guile.Warner, who tried to counter attack during his 31-ball 41, was trapped lbw off a straighter Perera delivery that hit the batsman on the front pad.Smith (30), who used his feet well against the spinners during his 58-ball stay, was the next to go as he gave away a catch at backward short leg.Perera, who also took two wickets on Friday, then bowled Adam Voges for 28 to register his fourth five-wicket haul in 11 Test matches.But it was Herath�s left-arm spin that did the early damage in a match dominated by Sri Lankan slow bowlers.Herath and Perera shared four wickets between them on a chaotic second day which saw the fall of 21 wickets and put the match on the fast track.Australia�s pace spearhead Mitchell Starc though made his presence felt on a track that offered little help to the fast bowlers with his career-best match figures of 11-94.Sri Lanka won the first Test at Pallekele by 106 runs.
 Mickey Arthur said Friday that winning series away from their adopted UAE home would be Pakistan�s acid test after former side Australia�s struggles in Sri Lanka bolstered their hopes of becoming the world�s number one Test team.</strongPakistan are currently third in the International Cricket Council standings, with Australia on top.But they could rise to the summit if Australia lose their ongoing series in Sri Lanka and Pakistan themselves triumph in England.The first part of that equation moved nearer to reality Friday when Australia, already 1-0 down in a three-match campaign, were left staring at defeat on an extraordinary second day of the second Test in Galle at 25 for three chasing a mammoth 413 for victory.Pakistan, all square at 1-1 in a four-match series with England, had a better, if frustrating, time on Friday�s third day of the third Test at Edgbaston.Having established a first-innings lead of 103, they saw England captain Alastair Cook (64 not out) and Alex Hales (50 not out) erase the deficit with an unbroken opening stand of 120 that left the hosts 17 runs in front at stumps.For Pakistan coach Arthur, dramatically sacked by Australia on the eve of the 2013 Ashes series in England, events in Galle had not gone unnoticed."Misbah (Pakistan captain Misbah-ul-Haq) and I did chat about it on the bus as we saw the Australian score from Sri Lanka," Arthur told reporters after stumps at Edgbaston."I think the reality is if you want to be number one in the world you�ve got to be able to win away from home."We�ve got a tough schedule -- England here, then New Zealand away in two Tests in November and then we go and play in Australia, Boxing Day (Melbourne), the New Year (Sydney) and the night Test in Brisbane."But for us to be where we want to be, those are the series we�ve got to win."/><strong>�Sohail concern</strong> Arthur, who made his international reputation as coach of his native South Africa, lamented a lack of support for left-arm quick Mohammad Amir and leg-spinner Yasir Shah on Friday.Sohail Khan, who Arthur said was prone to inaccuracy along with fellow seamer Rahat Ali because their front arm fell away or was "lost" in delivery, marked his first Test in five years with an impressive five for 96 in England�s first innings 297 at Edgbaston.But he tired markedly in a return of none for 40 in eight overs on Friday.<br/>"It is a real concern," said Arthur."He�s got to back up. I thought he bowled exceptionally well in the first innings but the key is you�ve got to do it both innings."The coach added: "Mohammad Amir bowled outstandingly well tonight (Friday). Yasir did the same. We just need a little bit of support for those two."Pakistan�s top-order have struggled in England.But Thursday saw a second-wicket stand of 181 between Azhar Ali, whose 139 was his first Test century outside of Asia, and Sami Aslam (82).Left-handed opener Aslam�s highest Test score was particularly impressive as it came in the 20-year-old�s first innings of this series and just his third match at this level."That was real Test batting from Sami and Azhar," said Arthur.<br/>"The lessons we�ve learnt from the tour, they were all put into place. They left well, they made England bowl at them."Arthur added: "Sami played outstandingly well for a young boy. He hasn�t had many opportunities this tour, but he�s worked so hard in the nets, he�s trained the house down."<br/>The Pakistan coach regretted his side "lack an all-rounder -- we lack a Chris Woakes" after the paceman led England�s attack with three for 79 in 30 overs on his Warwickshire home ground.Woakes then put his feet up while Cook and Hales kept Pakistan at bay.<br/>"Going into that innings, we were behind the eight ball -- 100 runs behind in any game is quite a decent margin," said Woakes."For them to cancel that deficit out the way they have, looking pretty solid and not like giving any chances, was crucial."
 Team USA confidently eyed top spot on the Rio Olympics medals table on Friday after Russia�s contingent was slashed over a doping scandal, paving the way for a bumper American haul.</strongRussia�s losses include their entire track and field team, an area where the United States will capitalise but which is not a strength for China, their nearest challengers on the overall table in 2012.As US Secretary of State John Kerry visited the American track and field and volleyball teams on Friday, the mood in the camp was expectant."You are a huge example to the world," Kerry told about 50 hushed athletes as at least one of them, overcome by the occasion, wiped away tears."Everybody in the United States of America is proud of you. I know you�ve set out to win medals, but everybody here is a winner already."Russia finished second on the tally for athletics medals in 2012, behind the United States who led the overall 2012 Games table by eight gold medals from China.Russia�s contingent is their smallest in more than a century after recriminations over the discovery of a large-scale, state-sponsored doping conspiracy.The USA athletes also received a surprise boost in the form of swimming great Mark Spitz, who travelled with Kerry and addressed the team at their training base.Spitz won an astonishing seven golds at the 1972 Munich Olympics, a record that stood for 36 years until it was broken by Michael Phelps� haul of eight in 2008."If you have an event that�s only one event and you get a medal, you are just as important as Michael, because we are Olympians forever," Spitz said.On Friday, the top story on the Team USA website was about two separate projections that the 555-strong American contingent will top the medals table.And Ashley Spencer, the hotly tipped 400m hurdler, said the American athletes knew they were capable of coming out on top."We have some of the world�s best athletes," she told AFP. "Once we come together and at the end of it all when we look back, if everyone handles their business I think we could be at the top."Spencer added: "Everyone�s ready to go."
 Last year Syrian refugee Yusra Mardini had to swim for her life when her boat broke down as she tried to reach Europe; this month the teenager will be swimming in the Rio Olympics.</strongYusra, who is a member of the first ever Olympic refugee team, told how she and her sister Sara feared they might drown after their overloaded dinghy started taking in water as they crossed the Mediterranean to Greece.Along with another refugee they jumped in the sea and pulled the boat for three hours through the water, saving the lives of 19 others."When I was in the water there was fear. You don't know whether you are going to live or die," the 18-year-old said in a video interview published by the International Organization for Migration (IOM).Mardini, who will compete in the 100-metre freestyle, is among 10 athletes in the refugee team which will march behind the Olympic flag at Friday's opening ceremony in Brazil."When I was swimming for my life, I never would have believed I would be where I am now," the IOM quoted her as saying.The two sisters, who now live in Germany, left their home in Syria's war-battered capital Damascus a year ago and headed to Turkey.One evening they boarded a dinghy on the Turkish coast along with 20 others - around three times as many people as it was designed to carry."Before you go on the boat, people tell you that you are going to die," Sara told IOM in an interview published on Monday."So the first thing you think about when you get on that boat is death. You don't think of anything else."Hundreds have died crossing the Mediterranean from Turkey as they tried to reach Europe after fleeing conflicts and political turmoil in the Middle East and elsewhere.COLD AND EXHAUSTEDSara, also a swimmer, said she told her sister that if their boat capsized during the journey they should just try to save themselves as it would be impossible to help everyone else.But when the engine stopped and the boat started deflating she realized she could not let the others drown."We needed to have less weight on the boat and nobody else besides us could swim ... When I first got into the water my whole body was shaking like it does just before competition," she said."At that very moment I felt that life was bigger than me alone. All the people on that boat were part of me."I thought it was my duty to jump in the water ... if I (had left) them I would feel bad with myself for the rest of my life."She described how her father's friend cut off her trouser legs in the sea to stop her clothing weighing her down.After two hours she was battling exhaustion and knew she risked falling asleep and drowning."It was getting dark and cold, the wind was blowing and I was freezing. I could not open my eyes any more, they were full of salt water," she said.They eventually arrived on one of the Greek islands in the middle of the night.Her sister Yusra says she hopes her story will inspire others."Now we are training really hard," she said. "I think about making my parents proud and everyone who supported me."The teenager has three dreams. "I hope that they will open the borders for refugees, and I hope to get a medal in the Olympics, and that my home town is in peace again."
 The Rio Olympics opening ceremony started with fireworks and laser lit choreography on Friday as Brazil sought to forget seven years of troubled preparations and the Olympic movement to temporarily put aside its doping crisis.</strongUnder the gaze of Rio�s Christ the Redeemer statue, 78,000 packed into the iconic Maracana Stadium to watch four-hour party with Michael Phelps and other sporting superstars taking centre stage in South America�s first Olympics.Brazilian singer Paulinho da Viola sang the national anthem with children to set off the show of laser lights and elaborate dances before the athletes� parade.France�s President Francois Hollande and Argentina�s Mauricio Macri were among a handful of state leaders in the VIP box with Brazil�s troubled interim leader Michel Temer.Organisers said the opening ceremony aimed to send a message of tolerance and respect. But it came as Brazil battles a crippling recession, double-digit unemployment and rising crime and Temer fought off political turmoil.As the clock ticked down to the start of the ceremony, thousands of demonstrators took to the streets to vent their fury at Brazil�s rulers and the multi-billion-dollar cost of the Games.Waving signs reading "No to the Olympics!", about 3,000 people gathered outside the luxury Copacabana Palace Hotel where many Olympic athletes are staying.Brazil has spent more than $10 billion on new infrastructure and preparing for the Games at a time of economic crisis.The billions lavished on the Games has angered many Brazilians as the country grapples with a tanking economy and mass social problems."This party wasn�t done for the people. The Games don�t come close to the reality lived by the poor. So I�m protesting against the lack of finances for our schools and for the way our salaries are only paid in instalments," said teacher Guilherme Moreira Dias, 38.The ceremony launches 17 days of sporting drama led by a cast of elite athletes including sprint king Usain Bolt and swimming superstar Phelps which wraps up on August 21.As well as the economic problems, Brazil is also in the grip of a political crisis which led to the impeachment of President Dilma Rousseff. She refused to attend the ceremony, leaving Temer in her place with a hostile reception from the crowd predicted.At most Games the lighting of the flame is a highlight.And the secret of the Rio flame returned ahead of the ceremony when Brazilian football great Pele, 75, said he could not carry the torch because of poor health.A vast security blanket of 85,000 military and police -- twice the number on duty at the 2012 London Games -- will be draped over the city to ward off the threat of street crime and terror attacks.That has not been able to offer total protection, with a spate of thefts from the Olympic Athletes village. The Danish, Chinese and Australian delegations have all reported items stolen. Journalists� cameras and laptops have also been targeted for thefts.Anticipation for the sporting battles has been eclipsed by fallout from the Russian doping scandal that has divided the International Olympic Committee (IOC) and the World Anti-Doping Agency.The IOC�s decision not to impose a blanket ban on Russia over revelations of a state-sponsored doping program opened the door to legal turmoil. That left the precise make-up of the Russian team in limbo. On Thursday, the IOC confirmed the Russian team would be made up of 271 athletes, with 118 eliminated because of the drug scandal.The first gold medal should be awarded on Saturday in shooting.All eyes will be on American swimming star Phelps, the most decorated Olympian in history, when he returns to the pool in the first week.Track and field will see Jamaican star Bolt aim to defend his 100m, 200m and 4x100m crowns by clinching all three for the third straight Games.Gymnastics, meanwhile, could see the world find a new darling with America�s teenage star Simone Biles while new sports making their debut in Rio will include seven-a-side rugby and golf.
 Business community have discussed various challenges and opportunities at the two-day convention of Management Association of Pakistan (MAP) �with the theme �Dancing with Disruption�.</strongThey discussed the prevailing business environment of Pakistan and the role business leaders can play in reinventing business operations. Industry leaders include Dr. Zeelaf Munir, Shahzeb Mahmood, Saquib H. Shirazi and �Dr. S.M. Junaid Zaidi.The Managing Director and CEO of EBM, Dr. Zeelaf Munir �said the reinvention in today�s disruptive environment is the need of the hour. Companies which continuously evolve, stay ahead of the curve.The two day convention included presentations by industry veterans from multiple sectors reflecting on the impact of Pakistan�s economy on their relevant industries followed by a panel discussion on �Leadership in times of disruption�. The convention also included a keynote address on strategic innovation and leading business growth through innovation. �
 Pakistan Stock Exchange Ltd has received interest from international companies including the Shanghai Stock Exchange to buy a stake, the head of the Pakistani bourse said on Monday.</strongThe Pakistani bourse has been searching for a strategic investor and in July invited companies to show interest in buying a stake of up to 40 percent."By late August, early September expressions of interest were received, including from Shanghai Stock Exchange," Nadeem Naqvi, Managing Director of Pakistan Stock Exchange, told Reuters by telephone.Shanghai Stock Exchange did not respond to a request for comment.Naqvi said all interested parties have to submit sealed bids by Oct. 21. "Final outcome will be known by early November," he added.Pakistani shares are trading at an all-time high, helped by an improving economy. The bourse's market capitalisation from 558 listed companies is $77 billion.In recent years the main Pakistan bourses were demutualised to weaken the influence of stockbrokers and deepen the investor base. The demutualisation plan required the bourse to find a strategic investor to buy a stake of 15 percent to 40 percent.Pakistani officials said the investor would have to buy at least 15 percent but no higher than 40 percent. If the sale involves a stake of anything in between, the bourse would have to sell the balance to other institutions to meet the 40 percent cap.Japan's Nikkei newspaper first reported the interest of Shanghai Stock Exchange late on Sunday.
 The Pakistan Railways have launched electronic ticketing system today to facilitate the passengers.Railways MinisterKhawaja Saad Rafique inaugurated the system in a ceremony held here at the PR Headquarters.After the inauguration, the passengers will be able to pay for their tickets online via credit or debit cards, online bank transfers or micro transactions like UBL Omni Easypaisa or Mobicash.With the launch of digital ticketing system passengers will be able to book and pay for tickets from the comfort of their home by using computers or mobile phones.Moreover, the digital system will increase the seat capitalization for the railways and decrease chances of corruption.Everything will be handled electronically so tickets canbe booked quickly and efficiently with no human interaction.
 Pakistan's annual inflation rate rose to 3.88 percent in September from 3.56 percent in August, mainly due to an increase in food prices, the Bureau of Statistics said on Monday.</strongOn a month-on-month basis, prices increased by 0.20 percent in September, the bureau said.The steepest rise in prices was in staple items garlic and pulses.
 The IMF on Tuesday left its global economic forecasts unchanged into 2017 but called on governments to take action against the threats of low growth and protectionism.With Britain voting to secede from the European Union and US presidential candidates disfavoring open borders, the International Monetary Fund said populist politics imperiled free trade and economic growth.Global output is expected to grow this year by 3.1 percent before rising to 3.4 percent next year, estimates that are unchanged from July, according to the IMF�s new World Economic Outlook report.But the Fund downgraded forecasts both for growth in global trade volume and for advanced economies� output, saying that prospects for richer countries had darkened this year.The IMF notably cut its outlook for the United States, the world�s largest economy, but upgraded those for Japan and the eurozone.It also called Chinese businesses� dependence on high levels of credit to bolster growth was "dangerous" and unsustainable, creating risks to China�s economic stability in the medium-term.The focus of worries, however, was the sharp rise of talk against free trade pacts and for raising barriers to foreign competition in leading economic powers, including the United States and some European countries."It is vitally important to defend the prospects for increasing trade integration," said IMF chief economist Maurice Obstfeld "Turning back the clock on trade can only deepen and prolong the world economy�s current doldrums."The IMF downgraded its outlook for advanced economies this year by 0.2 percentage points to 1.6 percent but raised it slightly for emerging and developing economies to 4.2 percent. Next year�s forecasts were unchanged.The world trade outlook also soured, with growth now pegged at a very low 2.3 percent this year, before rising to 3.8 percent in 2017.The IMF said global growth still faces notable uncertainties, such as further economic shocks in China, a continued fall in commodity prices and the sudden imposition of new trade barriers."Geopolitical tensions could flare up, adding to the humanitarian crises already afoot in the Middle East and Africa," the report said.
 The pound slumped to a 31-year low against the dollar Tuesday on concerns over the timing of Britain�s planned exit from the European Union, according to traders.</strongBritain�s currency also struck a fresh three-year low point against the euro, while the drops helped pushed London�s benchmark FTSE 100 stocks index up to a 16-month high beyond 7,000 points at the open.Around 0725 GMT, the pound struck $1.2757 -- the lowest level since 1985.Sterling meanwhile traded at 87.56 pence to the euro -- its weakest level since 2013."It seems that it is going to be hard to provide a tourniquet for sterling�s recent wounds given the solidity of the newly announced Brexit timeline," said Connor Campbell, analyst at traders Spreadex."In terms of silver linings the pound�s protracted demise has continued to lift the multinationals that make up the FTSE 100, leaving the index back above 7,000 for the first time in 16 months."The FTSE rallied to a gain of 1.1 percent at 7,060.46 points in early deals compared with Monday�s close.In the eurozone, Frankfurt�s DAX 30 stocks index won 0.6 percent to 10,577.94 points compared with Friday�s close. The DAX was shut Monday owing to a public holiday in Germany.The Paris CAC 40 meanwhile opened Tuesday with a gain of 0.7 percent at 4,485.41.British Prime Minister Theresa May announced at the weekend that her government would start the process of leaving the EU within the next six months -- possibly leading to Britain severing ties with the single market.
 Pakistan will lower the sulphur content of diesel imports from January next year, in line with a global shift toward cleaner fuels, said two sources familiar with the matter.</strongAs vehicle numbers in Asia have surged, countries across the region, including China, India and Vietnam, have adopted more stringent sulphur requirements for their fuels in recent years to cap emissions.Pakistan will require diesel fuel with 500 parts per million (ppm) sulphur starting from January 2017 from the current 5,000 ppm sulphur gasoil, the sources said this week.Pakistan and Indonesia are some of the few remaining Asian countries still using high-sulphur gasoil.With the shift, the South Asian nation will be on par in terms of sulphur standards with Bangladesh, Vietnam and Myanmar.State-owned Pakistan State Oil Co (PSO), the country's largest oil products importer, could not be immediately reached for comment.But the country's refineries are still not completely ready to meet the change in sulphur standards, one of the sources familiar with the matter said.About 40 percent of Pakistan's refineries have upgraded their units to produce the low sulphur diesel while the remaining refineries are still working to finish units to reduce the amount of sulphur in the fuel, the source said.The country's refineries use outdated hydro-skimming equipment and desperately need updating, only surviving due to a favourable tax regime, Pakistan's petroleum minister told Reuters last year.PSO has a long-standing term contract with Kuwait Petroleum Corp (KPC) to import about 2.2 to 2.5 million tonnes of high sulphur gasoil every year.KPC has agreed to supply diesel with 500 ppm sulphur to PSO from next year, the two sources close to the matter said.PSO rarely imports gasoil in the spot market except for summer when it needs the fuel for power generation. So, the shift in sulphur specification is not expected to have a major impact on trade flows, middle distillates traders said.Pakistan is also moving towards 92-octane gasoline from November and is phasing out imports of 87-octane gasoline, one of the sources said.PSO is looking to potentially sign long-term contracts for gasoline cargoes, though this is not firm, the source added. It currently imports about 150,000 to 200,000 tonnes of gasoline every month through the spot market.
 Oil prices fell on Tuesday on a rise in Iranian exports which add to a global supply overhang, although a planned OPEC-led production cut later this year offered some support.</strongInternational Brent crude oil futures LCOc1 were trading at $50.63 per barrel at 0645 GMT, down 26 cents, or 0.5 percent, from their previous close.U.S. West Texas Intermediate (WTI) crude CLc1 was down 32 cents, or 0.66 percent, at $48.49 a barrel.Traders said prices were dented by the latest rise in Iranian crude and condensate sales, which likely reached about 2.8 million barrels per day (bpd) in September, almost matching a 2011 peak in shipments before sanctions were imposed on the OPEC producer.Analysts said Iran will struggle to boost output further and reaching pre-sanctions levels makes it more likely Tehran will agree on some form of production constraint with other members of the Organization of the Petroleum Exporting Countries (OPEC), including its regional rival Saudi Arabia, which is also pumping oil near record levels.There was optimism that OPEC producers, and perhaps also exporters outside the club like Russia, would find some form of agreement by the time the group meets in November, although the risks of failure remain."For now, optimism has returned and the market will anxiously await any confirmation of the agreement or additional non-OPEC participation," Morgan Stanley said in a note to clients.Barclays said on Tuesday that it expects oil "prices will rise to the low $50 range in Q4."Yet so far, there are few signs of production cuts outside OPEC."Russian crude oil production continues to outperform... Russian oil production increased to 11.1 million bpd in September... As a result, we have revised up our 2016 crude and condensate forecast to 10.94 million bpd and 2017 forecast to 11 million bpd," BMI Research said.Morgan Stanley said that "the risk of disappointment (from a failed production deal) is high, and fundamentals remain challenging/unchanged in the interim".Despite Tuesday's dips, the overall higher crude prices since August have hit profits in the refinery sector.Asian benchmark Singapore refinery margins DUB-SIN-REF have fallen almost a third in the last five days to under $5 per barrel.Beyond the higher crude feedstock prices, traders said that a seasonal downturn in product demand amid an ongoing fuel supply overhang was also weighing on refinery products.
 Prime Minister Nawaz Sharif, Wednesday emphasizing the need to fully tap the business potential between Pakistan and Belarus, urged to work towards enhancing the bilateral trade volume from existing $50 million to $1 billion in the next four years.</strong�We need to encourage joint ventures and business-to-business contacts in the areas of textiles, agricultural equipment and products, heavy machinery, pharmaceuticals, and automotives,� the prime minister said in a one-on-one meeting with the President of Belarus Alexander Lukashenko here at the PM House.The PM emphasized that security situation in Pakistan had improved considerably, paving the way for increased economic and investment opportunities.Welcoming the Belarusian President, the premier termed his visit �reflective of growing friendship and bilateral ties�.�I am very pleased to note that our bilateral relationship is expanding in diverse areas. We need to maintain this momentum,� PM Nawaz said.He mentioned that Pakistan and Belarus had signed over 50 agreements and MoUs in the last 16 months and hoped that both sides would sign more accords during this visit.President Lukashenko thanked the Prime Minister for the warm welcomed extended to him and his delegation in Pakistan.Alexander Lukashenko said Belarus was eager to enhance cooperation with Pakistan in diverse fields and sectors.<br/>He stressed that Pakistan and Belarus needed to fully capitalise the huge potential for the benefit of their people.strong>18 accords of cooperation signed</strongThe two countries signed note on Exchange of Instruments of Ratification on �Treaty of Friendship and Cooperation�, on legal assistance in civil and commercial matters, and on customs matters.Prime Minister�s Special Assistant on Foreign Affairs Tariq Fatemi and Belarusian Foreign Minister Vladimir Makei signed the three documents.An MoU was signed between State Bank of Pakistan and National Bank of Belarus, by Governor SPB Saeed Ahmed and Deputy Chairman of the Board of National Bank Mamanovich Petr.A Protocol amending the convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasian with respect to Taxes on Income was inked by Finance Minister Ishaq Dar and Minister of Taxation and Revenue Sergei Nalvaiko.Minister of State for Education Balighur Rehman and Belarusian Education Minister Mikhail Zhuravkov signed eight accords in education sector of Pakistan and Belarus.These include an MoU in vocational training between the education ministries, and seven agreements between the top universities of two countries in the fields of mutual recognition of educational certificates, establishment of Urdu and Belarusian language chairs, and academic and innovative research.The agreements on education took place among Pakistan�s National University of Modern Languages and Quaid-e-Azam University and Minsk�s State Linguistic University, Belarusian State Technological University and Belarusian State University of Culture.The Air Services agreement between Pakistan and Belarus was signed by Secretary Aviation Muhammad Irfan Elahi and Director of Belarus Aviation Department Kostin Vladimir.The Memorandum of Understanding (MoU) between the Trade Development Authority of Pakistan (TDAP) and National Centre for Marketing and belarus� Price Study of the Ministry of Foreign Affairs was signed by Minister for Commerce Engineer Khurram Dastagir Khan and Belarusian Foreign Affairs Minister Markei Vladimir.The MoU between Pakistan�s Ministry of Communications and Ministry of Communications and Information of Belarus in sphere of postal activities was inked by Secretary Communication Khalid Masood and Ambassador of Belarus Andrei Emolovich.
 Oil prices rose towards $52 a barrel on Wednesday, hitting their highest level since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and OPEC's supply cut deal.</strongThe American Petroleum Institute (API) said on Tuesday that U.S. crude inventories dropped 7.6 million barrels, which would be the fifth straight weekly decline if confirmed by U.S. Energy Information Administration (EIA) data on Wednesday.Brent crude was trading at $51.70 a barrel, up 83 cents, at 0819 GMT. The global benchmark touched $51.72 during the session, its highest since June 10. U.S. crude was up 75 cents at $49.44.Analysts are expecting a rise in crude stocks of 2.6 million barrels.But another drop in U.S. crude stocks would reinforce the view that the supply glut that has been weighing on prices since 2014 is easing. The API data, however, does not always tally with the EIA data, which is due at 1430 GMT."All eyes now turn to the EIA crude inventory numbers," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore, adding that another confirmed drawdown in crude stocks would likely push U.S. crude prices above $50.Brent has risen from below $49 on Sept. 28, when the Organization of the Petroleum Exporting Countries agreed a surprise cut in its output to support prices which are less than half the level of mid-2014.Under the deal, OPEC will target production of between 32.50 million barrels per day (bpd) and 33.0 million bpd, implying a cut of as much as 740,000 bpd from the August level, as reported in OPEC's monthly report.The move marked an about-face by OPEC, which in November 2014 dropped its role of cutting production. Although it hasn't yet worked out all the details, and analysts are skeptical the cut will be implemented, the deal is supporting the market."The mere threat of a production cut should put a floor under oil prices until the next OPEC meeting on Nov. 30," said Jason Gammel of U.S. investment bank Jefferies.
 Oil futures dipped on Thursday after Saudi Arabia trimmed the price of its flagship crude to Asia, but were still near more than three-month highs following a drop in U.S. crude inventories.</strongU.S. West Texas Intermediate (WTI) crude futures were trading at $49.55 per barrel at 0544 GMT, down 28 cents or 0.6 percent from their last settlement.International Brent futures were down 28 cents, or 0.5 percent, at $51.58 per barrel.Both contracts hit their highest levels since June on Wednesday after the U.S. Energy Information Administration (EIA) said crude stockpiles fell 3 million barrels last week to 499.74 million barrels. Despite the drawdowns, stocks were still close to all-time highs.Traders pointed to profit taking following recent price rises and said Thursday's fall also reflected weaker physical crude after top exporter Saudi Arabia cut the price of its Arab Light crude to Asian customers for November in a sign that the global fuel supply overhang persists.Another potential cap on prices comes from the United States.Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore, said that at around $50 a barrel for WTI, U.S. shale drillers, who have spent much of the year cutting back unprofitable production amid low prices, may start bringing back mothballed rigs.Overall, however, most analysts said that the market was well supported at current levels, especially because of a planned output cut by the Organization of the Petroleum Exporting Countries (OPEC).There were also risks of forced supply disruptions, especially in North Africa, Nigeria, and Venezuela."Oil prices seem headed for higher levels in the coming period," Global Risk Management said in its quarterly report this week, pointing to the risk of "several oil producing countries struggling to increase or even keep production at current levels due to unrest/oil facility wreckages and lack of industry investments".Barring such a disuption, most analysts did not expect prices to shoot up much further as production will remain high even with an OPEC cut, and plenty of fuel remains in stock."Resilient production in the U.S. and Russia will postpone crude market rebalancing and keep the market in surplus into 2017," BMI Research said in a note to clients, even cutting its price forecast for next year."With an insufficient demand response to counteract strong supply, the result is a downward revision of our 2017 Brent forecast to $55 per barrel from $57 per barrel," BMI said.
 The State Bank of Pakistan (SBP) on Friday injected Rs 1,120.150 billion into money market for seven days through its open market operation.</strongThe rate of return accepted is 5.80 percent per annum, said a press release issued by the SBP.
 Prime Minister Nawaz Sharif has reiterated that China-Pakistan Economic Corridor is a game changer and it will not only bring economic revolution in Pakistan but will also change the fate of the entire region.</strongThe Premier was addressing business community members in Governor House Lahore here on Saturday. He said, �CPEC will open new paths of progress.�PM Nawaz said, �PML-N government was making sincere efforts to redress the issues of business community.�The incumbent government is trying to overcome the energy crisis in the country, adding that it will boot business in Pakistan.�To root out the menace of terrorism, operation Zarb-e-Azb is underway successfully,� he said.<br/><br/>Governor Punjab Rafique Rajwana was also present.
 Rising hostilities between India and Pakistan have brought their $822 million-a-year trade in cotton to a juddering halt, as traders who are worried about uncertainty over supplies and driven by patriotism hold off signing new deals.</strongThe nuclear-armed rivals have seen tensions ratchet up in the past few months over the disputed territory of Kashmir, and cotton traders in both countries said they were watching developments along the de facto border with alarm.Pakistan, the world's third-largest cotton consumer, usually starts importing from September, but three Indian exporters said the number of inquiries had slowed to a trickle in the last two weeks.In the clearest sign yet of souring relations affecting commerce, Pakistan-based importers also said they were not buying."At the moment there is no cotton trade. It's at standstill. There is uncertainty that, God forbid, if war breaks out, what will happen?" said Ihsanul Haq, chairman of the Pakistan Cotton Dealers Association.Pakistan Cotton Commissioner Khalid Abdullah said a "low quantum of trade activity is still taking place."He said the Pakistan government had not directed traders to stop buying Indian cotton and expected trade to normalize when tensions eased.Indian government officials said they had not yet noticed trading had stopped.But some Indian officials said last week that Prime Minister Narendra Modi's government was considering whether it should choke trade with Pakistan to put pressure on its neighbour, even though the trade balance is in India's favour.strong>INDIA'S BIGGEST COTTON BUYER</strongTrade between India and Pakistan, which have fought three wars since their independence from British rule in 1947, is small.In the 2015/16 fiscal year ending on March 31, official trade between the two was $2.6 billion. Cotton is the largest component of that total.It is not clear whether other goods and commodities traded between the two, such as jewellery and dry fruits, have been hit by the escalation in hostilities as well, but the disruption to cotton shipments is potentially significant.In the crop year ended Sept. 30, Pakistan was India's biggest cotton buyer after its own crop was hit by drought and whitefly pest.It imported 2.5 million bales from India, and supported Indian cotton prices at a time when China was cutting imports, traders said.Lower purchases by Pakistan this year could hurt exports from the world's biggest producer of the fibre and put pressure on Indian prices, but could also help rival cotton suppliers like Brazil, the United States and some African countries.Chirag Patel, chief executive officer of Indian exporter Jaydeep Cotton Fibers, said the country could export 5 million bales in the 2016/17 crop year, but exports could plunge to 3 million bales without Pakistani imports.An exporter based in Mumbai estimated that Pakistan will need to import at least 3 million bales in 2016/17, and India will have a surplus of around 8 million bales."As soon as the (political) situation improves, cotton trade will definitely resume between the two countries," said Haq of the Pakistan Cotton Dealers Association.But for now, traders on both sides of the border said the environment was not conducive to doing business."Many cotton exporters are not interested in selling cotton to Pakistan. They are trying to find other markets," said Pradeep Jain, a ginner based in Jalgaon in the western state of Maharashtra.Shahzad Ali Khan, chairman of Pakistan Cotton Ginners Association, referred to a move by the Indian Motion Picture Producers' Association (IMPPA), a small filmmakers' body, last week, banning their members from hiring Pakistani actors."India is banning Pakistani artists, so how can it expect us to buy cotton from India?" Khan said."In various forums Pakistani traders are saying they will not buy cotton from India this year. Even if they need to pay extra, they will pay and buy it from other suppliers."
 President Vladimir Putin on Monday said non-OPEC member Russia was ready to work with the cartel in imposing measures to limit oil production, in comments that propelled the price of crude to its highest levels in a a year.Eyes have turned to Russia, the world�s top oil producer alongside Saudi Arabia, to see if it will join in a concerted effort alongside cartel members to prop up prices after OPEC last month agreed a surprise output cut in the hope of lifting rock-bottom prices.Putin said at the World Energy Congress in Istanbul that such coordinated output curbs were the only way to balance the market after a prolonged period of low prices.In response, Brent North Sea crude rose $1.53 to $53.45 a barrel, the highest level reached since October 2015."In the current situation, we believe a freeze or a cutting of the production of oil is the only way preserve the stability of the energy sector and accelerate a rebalancing of the market," Putin said."Russia is prepared to join joint measures limiting production and calls on other exporting countries to do the same," he added.He expressed hope this would lead to a concrete agreement at a November OPEC meeting and that this idea would be a "positive signal to the market and investors".Russian Energy Minister Alexander Novak is expected to attend an informal meeting of OPEC energy ministers in Istanbul on Wednesday in a sign of increasingly tight cooperation with the cartel.The period of low oil prices has been hugely damaging to economies like Russia which has failed over the last years to reduce its dependence on hydrocarbon exports for revenues.Putin raised alarm that if the current trend of low prices continued, it could lead to a "chronic" lack of financing in the sector which could in turn lead to unpredictable flare-ups in prices."Russia as prominent energy power will always make its contribution to stable development," he said, insisting that even in the current difficult times Russia was still investing in oil extraction.Putin is making his first trip to Turkey following a crisis sparked by the shooting down of a Russian war plane over the Syrian border last November. He will later hold talks with President Recep Tayyip Erdogan.The energy minister of OPEC kingpin Saudi Arabia, whose assent allowed the output cut to go ahead, meanwhile expressed cautious optimism the price of crude could rise to $60 dollars a barrel by the end of the year.
 Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management.Oliver Hart, a British-American economist, and Bengt Holmstrom of Finland "have developed contract theory, a comprehensive framework for analysing many diverse issues in contractual design, like performance-based pay for top executives, deductibles and co-pays in insurance, and the privatisation of public-sector activities," the Nobel jury said.Their pioneering work has laid "an intellectual foundation" for designing policies and institutions in many areas, it added.Working separately, the two created tools to help determine whether teachers, healthcare workers, and prison guards should receive fixed salaries or performance-based pay, and whether providers of public services, such as schools, hospitals, or prisons, should be publicly or privately owned."The new theoretical tools created by Hart and Holmstrom are valuable to the understanding of real-life contracts and institutions, as well as potential pitfalls in contract design."Hart, born in 1948, is an economics professor at Harvard University in the United States, while Holmstrom, 67, is a professor of economics and management at Massachusetts Institute of Technology.The pair will share the eight million kronor (826,000 euros, $924,000) prize."My first action was to hug my wife, wake up my younger son ... and I actually spoke to my fellow laureate," Hart told the Nobel Foundation website.Holmstrom meanwhile told reporters via video link at the Nobel press conference in Stockholm that he was "very surprised, and very happy" to win the prestigious award.Holmstrom is known for his research into how contracts and incentives affect corporate behaviour including governance, as well as liquidity problems in financial crises.
 The Afghan authorities have imposed 5000 Afghan rupees on Pakistani trucks as cargo charges in Qandahar province close to Pakistan Balochistan province.</strongThe imposition of cargo charges has been confirmed by Vice President of Pak-Afghan Joint Chamber of Commerce and Industry Jamal-Ud-Din Achakzai while talking to BBC.He said these charges have not been imposed by the Afghan central government, but by the local administration of Qandahar province.He said these charges have been received between Chamman and Spinbuldak.He said these charges are also being received from Afghan good trucks by Afghan local administration as half of those being imposed on Pakistani trucks.He said it is discrimination and injustice towards Pakistan traders.He said according to Afghan authorities, the charges have been received from Afghan trucks less as they have also been charged with other taxes.Jamal-Ud-Din further said Pakistani trucks don�t only transport goods of Pakistani traders to Afghanistan, but also to central Asian countries via Afghanistan.He acknowledged that Pakistani traders are facing various problems, which have been raised by the chamber in meetings held in Islamabad and Kabul.He said Afghan authorities also gave assurance of addressing the traders� problems.
 The World Bank�s new chief economist is among those tipped to win the Nobel Economics Prize on Monday, as the awards season moves into a second week.</strongThe economics prize is unique among the Nobel awards in that it was created by the Swedish central bank in 1968 -- the others were all set up through the 1895 will of Swedish inventor and philanthropist Alfred Nobel.This year, economists working on growth and labour markets are among those vying for the prize, which will be announced on Monday at 11:45 am (0945 GMT).The committee has a tendency to honour pairs or trios of economists, although last year a single laureate, US-British researcher Angus Deaton, was chosen for his groundbreaking work on poverty.Paul Romer -- the US academic, activist and entrepreneur who was appointed chief economist of the World Bank in July -- is favourite to win, according to Sweden�s Dagens Nyheterm newspaper, for his pioneering work on endogenous growth theory.This relatively new area of research tries to incorporate the way that people innovate and develop technologies into models of economic growth.Romer�s employers are certainly rooting for him: last week New York University�s Stern Business School, where he teaches, accidentally published a press release naming him as the winner and inviting journalists to a news conference.The school hastily withdrew the statement and apologised, saying it was merely preparing for a possible win and that it had been published accidentally. "We are deeply sorry that these routine preparations may appear presumptuous," it said.Other names circulating include 94-year-old William Baumol of the US, a labour market specialist, and Indian-born US economist Jagdish Bhagwati, a free trade researcher.Bhagwati has played "a large if subtle role in keeping protectionism from being respectable," according to the 2008 Nobel economics laureate Paul Krugman.Of the 76 economics prize laureates, Americans dominate the list overwhelmingly, with 55 winners.If the Nobel committee were to look elsewhere this year, it could set its sights on France�s Olivier Blanchard, former chief economist at the IMF, or Swedish professor and ex-central banker Lars E.O. Svensson for his work on monetary policy./><strong>- �Time for a woman� -</strong�Still more Americans have been named as possible winners: Douglas Diamond and Philip Dybvig for their work on financial panic models, or Robert Townsend for his work on risk and insurance in developing economies.Michael Woodford, a monetary theorist currently teaching at Columbia University, and Robert Barro, who researches the factors that determine economic growth, are also mentioned as serious candidates.Women remain largely absent from the list of economics laureates. Only one woman has won the prize -- Elinor Ostrom, in 2009.But French-American Esther Duflo, 43, would be an ideal laureate, according to economist Micael Dahlen, interviewed in Swedish daily Svenska Dagbladet."It�s high time for a woman to get the prize, for someone under the age of retirement to get it, and because her research is groundbreaking in the fields of poverty and economics, among other things," he said.The economics prize is the fifth of the six Nobel prizes to be announced this year.Last week, the awards for medicine, physics, and chemistry were announced, as well as the peace prize, which went to Colombia�s President Juan Manuel Santos for his efforts to end a half-century war with the FARC rebels.The final prize, for literature, will be announced Thursday.For that award, the Swedish Academy could tap a superstar novelist such as Philip Roth of the US or Haruki Murakami of Japan, or a lesser-known writer such as Norwegian playwright Jon Fosse or Syrian poet Adonis.The Nobel prize consists of a diploma, a gold medal and cheque for eight million Swedish kronor (828,000 euros, $928,000), which the laureates will receive at a ceremony in Stockholm on December 10.�
 Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton's widening lead in the U.S. presidential election campaign pushed Wall Street higher.</strongBrent crude rose to as high as $53.73 on Monday, the highest level since Oct. 9, 2015. It closed up 2.3 percent at $53.14.U.S. crude futures jumped 3.1 percent to $51.26 on Monday, a four-month high. They were trading 0.1 percent lower at $51.28 at 0022 GMT.The gains came after Russia said it was ready to join the Organization of Petroleum Exporting Countries in limiting crude output and Algeria called for similar commitments from other non-OPEC producers.OPEC aims for agreements to cut about 700,000 barrels per day in its first reduction in eight years.MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent.Japan's Nikkei .N225 added 0.8 percent.South Korea's KOSPI rose 0.1 percent after opening lower as Samsung Electronics plunged by much as 5 percent as the company struggles to contain a deepening crisis over its Galaxy Note7 phone.Samsung told customers on Tuesday to stop using their Note7 smartphones while it investigated reports of fires in the devices.The world's top smartphone maker said it had asked all global carriers to stop sales of the Note7 and to stop providing replacements while it worked with regulators to investigate the problem.Overnight, U.S. stock indexes closed up between 0.5 percent and 0.7 percent, after the pan-European FTEU3 index ended the day 0.9 percent higher."The oil market news proved immensely positive for equities," Angus Nicholson, market analyst at IG in Melbourne, wrote in a note.The dollar retained overnight gains on growing expectations that the Federal Reserve will raise interest rates this year.Traders have priced in a 70 percent chance that the Fed will hike at a Dec. 13-14 policymakers' meeting, up from 66 percent early Friday, according to CME Group's FedWatch tool.Investors are looking to Wednesday's release of minutes of the latest Federal Reserve Open Market Committee meeting to see how close the Fed was to hiking rates last month.The U.S. dollar strengthened 0.3 percent to 103.95 yen in early Asian trade on Tuesday, after rising 0.7 percent on Monday.The dollar index, which tracks the greenback against a basket of six global peers, added 0.1 percent to 96.989 in early Asian trade, after climbing 0.3 percent on Monday.The Mexican peso strengthened more than 2 percent on Monday against the U.S. dollar, which fell to a one-month low of 18.795 pesos after the second presidential debate between Trump and Democratic nominee Hillary Clinton. The Mexican currency retained those gains on Tuesday.
 External sharia audits are gaining support in Islamic finance as consumers and regulators seek more transparency and accountability, a study has found.</strongIslamic banks have traditionally used in-house boards of scholars to determine whether religious principles are being obeyed, but this self-policing has often been criticised for leaving banks open to conflicts of interest.Pressure for more external oversight has been building in several countries that have major Islamic finance industries, and this year Bahrain's central bank proposed new governance rules that would require Islamic banks there to conduct external sharia audits.The study, published this week by the Malaysia-based International Shariah Research Academy for Islamic Finance and Britain's UK Islamic Finance Council (UKIFC), said external sharia audits should become mandatory globally, and that this would help the growth of Islamic finance."By providing an additional check, external sharia audit will play an important role towards providing reassurance to scholars, financial institutions and customers," said Omar Shaikh, advisory board member of the UKIFC, a body which seeks to develop the industry.The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), whose standards are followed in many countries, is deliberating whether to incorporate external sharia audits as a separate item in its rules, the study said."If AAOIFI make it part of their standards, then all countries where their standards are mandatory will naturally start implementation," said Shaikh, adding that support for such external audits had also come from banks in Kuwait.The central bank of Oman issued specific guidelines for external sharia audits in 2012, and Pakistan's central bank did so in 2014.Malaysia, the top Islamic finance market in Asia, does not specify a position on external sharia audits but existing practice by the central bank includes an extensive sharia inspection of all Islamic financial institutions every year.The study suggested that to help national regulators introduce external sharia audits, the scope of the audits should be made clear, results should be publicly disclosed and there should be conflict resolution mechanisms.
 Oil prices edged up on Wednesday, supported by record Indian crude imports and upcoming talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market.</strongBrent crude futures were up 21 cents, or 0.4 percent, at $52.62 a barrel at 0639 GMT.U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.3 percent, from their last settlement at $50.94 per barrel.Traders said that prices were boosted by record Indian oil imports.India's oil imports rose 4.4 percent in September from the previous month to a record high 4.47 million barrels per day (bpd) as the country expanded its refining capacity to meet growing fuel demand in an expanding economy, shipping data showed.Oil imports by the world's third biggest oil consumer surged 17.7 percent from a year ago, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.The prospect of countries from oil group OPEC and non-OPEC members like Russia coordinating a production cut to rein in global oversupply, also supported prices.However, analysts cautioned that a deal might still fall through especially as Russia's participation remained uncertain.Much would depend on the timing of any production cut, said Alan Gelder, vice president for refining, chemicals and oil markets at energy consultancy Wood Mackenzie, which could deter participation."Timing is key for Russia to provide non-OPEC support to re-balancing the oil market, as September was, momentarily, at unprecedented production levels. The production reference (month) could require Rosneft to curb its current drilling programme, which is contrary to the interests of its private shareholders," he said.Oil has rallied more than 13 percent in less than two weeks since the Organization of the Petroleum Exporting Countries proposed its first production curbs in eight years. But prices remain at about half of mid-2014 highs above $100 a barrel as questions remain over when the market will return to balance.Goldman Sachs added its doubts on Tuesday, saying in a research note that the planned oil output cut by OPEC and other exporters has become a "greater possibility," but warned a production cut likely won't be deep enough to re-balance markets in 2017, and that oil prices may fall back into the low $40s per barrel.
�French Finance Minister Michel Sapin said Thursday that US banks had confirmed to him they would move some activities out of Brexit Britain to other European countries.</strongSapin said that until now US banks had adopted a wait-and-see approach towards their British investments."For them, until now, the question was �will Brexit take place? Will it really be implemented? You talk about two years but maybe it will last three or four years?�"<br/>"That�s over now, there�s no more of that," the minister, who visited Washington last week, told a press conference in Paris."It�s no longer �will there be� or �if� there�s a Brexit. It�s �there will be a Brexit in two years and after two years we will have to take decisions.�"<br/>According to Sapin they had already decided "activities will be transferred to the Continent.""Those are their words, not mine," he said, adding calling it an "inevitable outcome, whatever the result of the Brexit negotiations" between London and Brussels.Paris is among several cities hoping to woo London-based financial institutions if banks do decide to base themselves elsewhere in Europe to safeguard their euro business.Sapin said France was working on a plan to promote Paris as a future financial capital.
 US Consul General Grace Shelton Thursday participated in the gong ceremony (ringing the bell) during her first visit to the Pakistan Stock Exchange (PSE) in Karachi.</strongSpeaking on the occasion, Consul General Shelton said, �I am here today to express the U.S. government�s deep commitment to Pakistan�s private sector and economic growth.� I join the list of American ambassadors and consul generals to participate in the gong ceremony.� She added, �The Pakistan Stock Exchange is an important symbol of Karachi�s role in that pivotal growth.�She said United States is trying to facilitate Pakistan business community and Pakistan has become the focus of investors.U.S. Consul General also held a meeting with the Exchange�s Board of Directors, led by Chairman Muneer Kamal and Managing Director Nadeem Naqvi.Meanwhile, Pakistan Stock Exchange was bullish at the start of business with increase of two hundred points in hundred-index and surpassed the limit of 41 thousand points.
 Bangladeshi and Chinese firms have signed $13.6 billion in trade and investment deals on the sidelines of President Xi Jinping�s brief tour to the South Asian nation, a trade group official said Saturday.</strongThe deals are in addition to $20 billion in loan agreements that the two governments signed on Friday, in a mark of Beijing�s growing ties with Dhaka, which is a very close ally of India."These trade and investment deals are between Chinese companies including some of their state firms and Bangladesh private sector. They are worth $13.6 billion,"Abdul Matlub Ahmad, head of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), told AFP.Ahmad said the deals reflect Dhaka�s improving security situation after Bangladesh launched a deadly crackdown on extremists following an attack on a posh restaurant in the capital in which suspected militants killed 22, mostly foreign hostages."The agreements send a positive signal to the rest of the world that Bangladesh is a safe haven as an investment destination. The Chinese investors are satisfied with the security situation here," he added.The deals were signed after the FBCCI, Bangladesh�s top trade and business lobbyist group, and the China Council for Promotion of International Trade (CCPIT) organised a two-day tete-e-tete between business officials of both nations on the sidelines of Xi�s tour."We will invest in investment parks. There are many entrepreneurs in our delegation who want to invest in this country," CCPIT vice-chairman Chen Zhou said, according to local news portal bdnews24.com.Chinese investors were considering investing in infrastructural development, leather, readymade garments, pharmaceuticals, automobile and other sectors.Bangladesh has already agreed to set up an industrial park exclusively for Chinese investors near the strategic port of Chittagong hoping it will attract manufacturers seeking cheaper labour than they can find at home.As a mark of their deepening economic ties, the two nations on Friday also signed an agreement to conduct a feasibility study on a China-Bangladesh free trade agreement.Dhaka has been so far reluctant to sign a bilateral FTA with China and instead sought unilateral duty-free and quota-free access for its products in the Chinese market, the world�s second largest economy.Trade between the two nations is currently heavily skewed in China�s favour with Bangladesh exporting goods worth only about $808 million last year while its imports from China stood at $9.64 billion.Xi concluded his visit on Saturday, flying to India to attend a BRICS summit of leading emerging nations.His visit was the first in more than three decades by a Chinese president to Bangladesh, which lies firmly within New Delhi�s sphere of influence.Xi hailed what he called a "historical turning point" in relations with Bangladesh after talks with Prime Minister Sheikh Hasina.Impoverished Bangladesh needs tens of billions of dollars of investment in its transport infrastructure and energy production to boost its flagging economic fortunes and create jobs for its 160 million people.
 Russian President Vladimir Putin and Indian Prime Minister Narendra Modi are set to seal energy and defence deals Saturday that officials say are signs of a deepening partnership between the nations.</strongPutin will hold talks with Modi after arriving in the Indian tourism state of Goa for a BRICS summit also involving the heads of leading emerging nations Brazil, China and South Africa.Among the agreements expected to be signed between the two leaders are Moscow�s delivery of its most advanced anti-aircraft defence system to India.India, the world�s top defence importer, is undergoing a $100-billion upgrade of its Soviet-era military hardware, as it looks to protect its borders from arch-rival Pakistan and an increasingly assertive China.Modi and Putin will also focus on strengthening energy ties to meet India�s growing thirst for fuel and electricity for its fast-growing economy.Russia�s biggest oil company Rosneft is expected to acquire India�s Essar Oil in a multi-billion-dollar deal, according to local media reports, quoting officials involved in the agreement."The menu is vast," India�s ambassador to Russia, Pankaj Saran said at a briefing on the talks, without detailing the deals to be signed."It is more than a relationship, it is a partnership and very justifiably it has been described by the two leaders as both special and privileged, as well as of course strategic," he said."It is very deep and very intense and it is poised to grow even further."Saran said he also expected them to discuss India�s tensions with neighbour Pakistan, which spiked after last month�s attack on an Indian army base that killed 19 soldiers.Modi has sought to isolate Pakistan internationally since the attack that India blamed on Pakistan-based militants.India said it subsequently carried out strikes against militants over the border in Pakistan, prompting a furious response from Islamabad."We have conveyed our views to the Russian side. We are confident that Russia will reflect upon our concerns," Saran said.But Putin is seen as unlikely to weigh into the dispute between the rivals, as Moscow also eyes closer defence ties with Islamabad. Russia and Pakistan carried out their first joint military exercise last month.strong>- Air defence system -</strongIn beachside Goa, the two leaders will reach agreement on Moscow�s delivery of the S-400 Triumph defence system, Russian news agencies quoted a Putin aide as saying on Friday, without detailing a timeframe.The S-400 is Russia�s most modern air defence system and has been deployed to Syria, where Moscow is conducting a bombing campaign in support of President Bashar al-Assad, its long-time ally.India was the erstwhile Soviet Union�s closest military ally during the Cold War and a major importer of its military hardware. But in recent years Delhi has turned to the United States for supplies, as the two nations forge stronger ties.Modi will also hold bilateral meetings with other BRICS leaders including China�s President Xi Jinping late Saturday, before hosting a dinner in their honour to officially start the BRICS summit.The BRICS leaders will get down to talks on Sunday, with enhancing trade ties along with "regional and global terrorism" issues that are expected to be on the agenda.BRICS was formed in 2011 with the aim of using its growing economic and political influence to challenge Western hegemony.
 Pakistan International Airlines (PIA) crew members will receive a brand new and �ber-polished look by January 2017.Under the initiative taken by the Chairman PIA, Mr. Azam Saigol and CEO Mr. Bernd Hildenbrand, Director Customer and Premier Service Ms. Tabassum Qadir has been given the task to carry a series of ongoing "grooming makeover."Initial sessions were held for four days at various PIA's training centres in Karachi,� Lahore and Islamabad, under the expert tutelage of style veteran Tariq Amin and his team.Tariq Amin is a pioneer of the Pakistani fashion industry with over 30 years experience in the field of hair, make-up and grooming, having� won several local and international awards in the field.Grooming sessions, incorporating 25-50 crew members per sitting, will be held bi-monthly at different PIA's training centres.During these sessions an assessment of crew's present grooming skills in hair and makeup will be done, besides tutoring them on basic skin, hair and nails grooming and a deconstruction in order to reveal their new look.
 Country�s fourth nuclear power plant at Chashma Unit-3 (C-3) with 340 Megawatt (MW) power generation capacity has been successfully connected to the national grid, Pakistan Atomic Energy Commission (PAEC) said Sunday.</strong�Congratulation to the nation that Pakistan�s 4th nuclear power plant Chashma unit-3 (C-3) has been connected to the national grid,� the PAEC sources said and added that the electricity generated has been connected to the national grid on trial basis.�After performing various safety and functional tests, the plant will attain full power in first fortnight of December 2016 and a formal inauguration ceremony of the full power grid connection will be held in December.�Chairman PAEC Muhammad Naeem, on achieving this milestone, has re-affirmed that the scientists, engineers and technicians of PAEC are working hard to contribute in achieving all the targets set to ensure energy security for the country.He acknowledged the support of Special Plans Division and the government for help achieve these targets.
 Pakistan International Airlines (PIA) said on Monday it aims to lease up to eight new aircraft in a move to upgrade its ageing fleet as the government seeks to turn around the loss-making flag carrier, long a drag on the federal budget.</strongA company spokesman said PIA had placed advertisements in domestic newspapers on Sunday seeking to secure both short- and long-term leases for wide-body aircraft.The ad, which didn�t disclose financial terms for the leases, specified the airline is seeking modern planes, made since 2012, with capacity for more than 250 passengers each.Prime Minister Nawaz Sharif had made the privatisation of Pakistan International Airlines (PIA) a top goal when he came to power in 2013. However, those plans were abandoned earlier this year after crippling strikes by staff protesting against privatisation, and a new turnaround strategy drawn up.The government now plans to convert PIA into a limited company and list a 49 percent stake on the local stock exchange, meaning it will retain control of the business for at least two years.After that period, the government could still end up selling its controlling stake.In its ad seeking places to lease, titled "Revival of PIA", the company said it was seeking a short-term "wet lease" of up to four wide-body aircraft, meaning the planes would come complete with crew and maintenance staff.The ad sought a long-term "dry lease" of up to four aircraft, meaning aircraft without crew.It said the lease term would be six to eight years.PIA said the new aircraft must have the latest in in-flight entertainment services.Outdated planes with poor entertainment facilities are among frequent complaints made by travelers about PIA.The privatisation of 68 state-owned companies, including PIA, was a major element of a $6.7 billion International Monetary Fund package that helped Pakistan stave off a default in 2013. Though some have been sold, many privatisations were put off until after the next general election, most likely to be held in May 2018.
 The National Electric Power Regulatory Authority (NEPRA) has approved increase in power tariff for Karachi under fuel charges adjustment for the month of July and August.</strongThe power regulatory body, while hearing the petition filed by K-Electric for hike in power tariff under FCA here Thursday, approved increased by 15 paisa and 23 paisa per unit for the month of July and August respectively.During the proceedings today, K-Electric informed that over Rs237.8 million and Rs358.7 million extra were spent on the consumption of fuel in the generation of electricity in July and August respectively. Therefore, the power utility urged NEPRA to increase the power tariff under fuel charges adjustment.On this, the regulatory body approved increase by 15 paisa for July and 23 paisa for August.
 A 174-tonne piece of jade worth millions of dollars that was uncovered in Myanmar will have to stay where it is for now -- because its owners don�t have equipment strong enough to move it.</strongThe 5.8 metre-long (19 feet) stone was discovered by miners in northern Kachin state last week, buried up to 60 metres deep inside a mountain."When the edge of the stone was scratched we could see the quality of the jade inside -- the quality is very good," said Tint Soe, 56, a local lawmaker.While some have estimated the rock could be worth more than $170 million, Tint Soe said its value was probably closer to $5.4 million.Jade is traditionally used for charms and bracelets, but Tint Soe said the company had not yet decided what this particular find would be used for -- and have no way of moving it anyway."Currently the jade stone cannot be moved as there is no machine that can do it here, and no road either," he said.Myanmar is the source of nearly all of the world�s finest jadeite, a beautiful green stone highly prized in neighbouring China where it is known as the "stone of heaven".Companies linked to the former junta dominate the trade, which Global Witness valued at around $31 billion in 2014 alone -- equivalent to around half the country�s GDP.Mining of the stone can extract a high human cost, with fatal mine collapses common -- around 100 people died in a major landslide in November last year.Most of the precious stone is smuggled across the border into China, where it is believed to bring luck and good health.
 Hong Kong stocks rose in opening exchanges Thursday, tracking gains in New York, with energy firms lifted by a rally in oil prices.</strongThe Hang Seng Index in Hong Kong added 0.46 percent, or 107.71 points to 23,412.68.The benchmark Shanghai Composite Index was flat, edging up 0.19 points to 3,084.91, while the Shenzhen Composite Index, which tracks stocks on China�s second exchange, was also marginally higher, inching up 0.72 points to 2,054.51.
 A seven-fold hike in visa fees to do business in Saudi Arabia risks deterring the foreign investment needed to transform its oil-dependent economy, diplomats and other sources say.</strongBut a senior Saudi business leader has dismissed such concerns, insisting the country�s most sought-after business partners could easily afford the new charges."It�s incredibly short-sighted," a Riyadh-based diplomat said of the changes which took effect this month."They�re obviously bleeding and they want to put the cost on foreigners as much as they can," he said, asking for anonymity. "It�ll end up costing them a lot more than what they gain in visa payments."Higher visa fees are one of many moves adopted by the kingdom to cover a loss in oil revenue which has slumped by 68 percent over the past five years, according to official data cited by Bloomberg News.But the higher cost of entry permits has left people "scratching their heads", a second diplomat said."We are expecting to see business reconsider Saudi as a market," said the Western envoy. "It�s certainly happening already," though not in a major way.Starting in October, a six-month business or work-visit visa allowing multiple entries costs 3,000 riyals ($800), compared with 400 riyals before, said Ala Siyam, general manager of Gulf Consulting House.The consultancy, in Khobar on the Gulf coast, assists clients from more than 40 countries in securing visas to Saudi Arabia, which requires all foreigners to have a local sponsor, whether to visit on holiday or business.Siyam told AFP the changes do not apply to the European Union or United States, while fees for British nationals have only slightly increased.Most other countries face the higher charges but also have a new option of applying for one or two-year visas. Those cost 5,000 riyals and 8,000 riyals each.Single-entry business visas are now priced at 2,000 riyals, several times higher than before.An oil industry source called the new tariffs "crazy" and a "complete mistake" if Saudi Arabia was seeking foreign partnerships.Since 2014, global oil prices have collapsed by about half, accelerating Saudi efforts to move away from petroleum which still accounts for the bulk of government income.In April, Deputy Crown Prince Mohammed bin Salman, 31, announced a "Vision 2030" reform programme to transform the world�s biggest oil exporter into a private-sector powerhouse with diverse industrial interests and major international investments.- Looking elsewhere -To promote job creation among Saudis and boost exports, Vision 2030 aims to foster small and medium-sized enterprises (SMEs) partly through "international partnerships"."This will be achieved by attracting both regional and international retail investors", the Vision says.But higher visa fees will be a "particular disincentive for SMEs", including those wanting to assess the market or meet potential partners, the first diplomat said.He and the Western diplomat agreed that foreign companies will now be more likely to consider doing business, and even meeting, elsewhere.Abdulrahman al-Zamil, former chairman of the Council of Saudi Chambers, says the impact of the hike in visa fees is being exaggerated."Most of those who are interested in our market.. can afford it. These are giant companies," said the head of Zamil Group, which employs 21,000 people in a range of sectors including steel fabrication and shipbuilding."The Saudi market is not really attractive to small and medium" enterprises from abroad, Zamil added.Siyam, whose company secured about 5,000 visas last year, predicted a small fall in the number of business visitors, with only non-essential staff left out of delegations."This country, it�s a very important country, so I think those who want to come, they will still come," he said.
 The State Bank of Pakistan (SBP) will issue Rs. 10 regular coin from Monday (Oct 24) through the exchange counters of all the field offices of SBP Banking Services Corporation.</strongThe Federal Government through a notification authorized the SBP to issue Rs. 10 regular coin said SBP press statement.This coin will be issued through the exchange counters of all the field offices of SBP Banking Services Corporation from 24th October 2016 said SBP statement.The coin is yellow in colour and round with serrations on the edge and a diameter of 25.5 mm. It weighs 5.50 grams, it added.According to the details of the coin the waxing crescent moon and a five pointed star facing North West in rising position is in the center on the obverse side of the coin.Alongwith periphery on the top of the crescent star is inscribed Islami Jomhuriya Pakistan in Urdu script.Below the crescent and at the top of two springs of wheat with arms curved upward there is the year of issuance.A circle of small beads is all along the edge of the coin.The reverse side of the coin is decorated with the front side picture of Faisal Mosque with Doves flying over it.The face value of the coin in numeral wording 10 in bold letters and Rupee in Urdu script is inscribed at lower side of the coin.A circle of small beads is all along the edge of the coin.
strong>The State Bank of Pakistan (SBP) has issued Rs. 10 regular coin Monday through the exchange counters of all the field offices of SBP Banking Services Corporation.</strongThe Federal Government through a notification authorized the SBP to issue Rs. 10 regular coin, said SBP press statement.The coin is yellow in colour and round with serrations on the edge and a diameter of 25.5 mm. It weighs 5.50 grams, it added.According to the details of the coin, the waxing crescent moon and a five pointed star facing North West in rising position is in the center on the obverse side of the coin.Along with periphery on the top of the crescent, star is inscribed �Islami Jomhuriya Pakistan� in Urdu script.Below the crescent and at the top of two springs of wheat with arms curved upward there is the year of issuance.A circle of small beads is all along the edge of the coin.The reverse side of the coin is decorated with the front side picture of Faisal Mosque with Doves flying over it.The face value of the coin in numeral wording 10 in bold letters and Rupee in Urdu script is inscribed at lower side of the coin.A circle of small beads is all along the edge of the coin.
 Managing Director International Monetary Fund Christine Lagarde has reiterated full support to Pakistan in its endeavours to address economic challenges and realize its superb potential.</strongShe was addressing a news conference along with Finance Minister Ishaq Dar in Islamabad on Tuesday.Christine Lagarde felicitated Pakistan on having successfully completed IMF supported economic reforms package. She said the program helped the country achieved macroeconomic stability and provided a solid foundation to the country to go for further reforms in important sectors. She pointed out that as a result of better economic performance; the country has significantly improved social protection spending. She also expressed satisfaction over the gradual reduction in the power outages and better financial discipline of the power sector.She said Pakistan has achieved a lot over the last few years but much more also needs to be done in the next phase to address the remaining challenges in order to ensure higher standards of living for their people. She said the requisite reforms process will help the country effectively meet challenges on the economic front.Christine Lagarde said structured reforms are required in different sectors including power besides there is need to plug losses in public enterprises. In parallel, special focus should also be laid on health and education sectors. She was of the view that any future reforms should focus primarily on inclusive and sustainable growth as it is imperative to bringing improvements in the living standards of the people.Minister for Finance Ishaq Dar said besides consolidating gains of the last three years, the Government would focus for next two years on growth, creation of job opportunities, poverty reduction and creating space for social sector spending.He said this has been reflected in the current year's budget, which is aimed at broadening tax net and improving financial disciple.The Minister said development spending has been increased from 300 billion rupees three years back to 800 billion rupees this year, social safety net expenses taken from 40 to 117 billion rupees and budgetary support for higher education has been increased substantially.Ishaq Dar expressed pleasure that for the first time the country completed an IMF programme and embarked upon comprehensive economic and financial reforms.He said when the present Government assumed power; it pledged to focus on addressing the four challenges of economic instability, energy shortages, low spending on social sector and extremism. He said the country has made good progress on all these fronts.The Finance Minister said the battle against terrorism has entered into its last round and incidents like the one in Quetta are blow back.
 India's cotton exports in 2016/17 are likely to fall 28 percent from a year ago to 5 million bales as its top buyer Pakistan is set to halve purchases due to rising hostilities and improvement in its own production, industry and government officials said.</strongThe lower shipments to Pakistan from the world's biggest cotton producer will help other suppliers such as Brazil, the United States and some African countries in raising exports.Pakistan is likely to import 1 million to 1.5 million bales in the 2016/17 year that started on Oct. 1, down sharply from 2.7 million bales a year earlier, India's Textile Commissioner Kavita Gupta told reporters on Monday.Gupta attributed the reduction to an improvement in Pakistan's cotton production, but industry officials said exports are down due to rising tensions between the two countries."Pakistan still needs to import, but Pakistani buyers are turning to Brazil and the U.S.," said Pradeep Jain, a ginner based in Jalgaon in the western state of Maharashtra.The nuclear-armed rivals have seen tensions ratchet up in the past few months over the disputed territory of Kashmir. Last month, militants that New Delhi claims came from across the border attacked an army base in Uri in the state, killing 19 soldiers.Pakistan, the world's third-largest cotton consumer, usually starts importing from September, but exporters said the number of inquiries had slowed to a trickle in the last few weeks.In 2015/16, Pakistan surpassed Bangladesh to become India's biggest cotton buyer and accounted for 40 percent of exports.India has so far in the season contracted 500,000 bales for export as demand was weak from overseas buyers, Dhiren Sheth, president of the Cotton Association of India, said.By this time last year, Indian traders had signed contracts to export 1 million bales, dealers said.India's cotton output in 2016/17 could rise 3.8 percent from a year earlier to 35.1 million bales as yields are expected to increase due to good monsoon rains, Gupta said."This year, area under cotton was lower but due to good monsoon rains and less impact from pests, we are estimating higher per-hectare yields," she said.(1 Indian bale = 170 kg)
 Gold steadied on Wednesday, largely holding on to gains from the previous session spurred by a retreat in the dollar and healthy physical demand.</strongGold had the potential to claw higher in the short term after the dollar pulled back from near nine-month highs and due to increasing appetite from speculators, one analyst said."We've seen the dollar rally halted and that may give gold some additional room to manoeuvre to the upside so I'm quietly constructive for gold," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen."Outside markets are supportive - we're seeing weakness in stock markets, oil is trading lower and the dollar is a tad weaker."Spot gold was barely changed, down some 0.1 percent at $1,272.46 an ounce by 1033 GMT. In the previous session, it hit $1276.67, its highest since Oct. 5.U.S. gold futures also edged 0.1 percent lower to $1,273.The dollar index slipped after rising as high as 99.119 on Tuesday, its highest level since Feb. 1, largely fuelled by expectations of a U.S. rate hike in December. "Yellen may hike rates now, but the trajectory is going to be very modest, and so interest rates in the U.S. in real terms will actually go down into more negative territory," said Dominic Schnider of UBS Wealth Management in Hong Kong.Also bolstering gold was a pick-up in demand ahead of Indian festivals this month such as Dhanteras and Diwali, a time when gold is traditionally given as a gift."A recovery in physical demand provided the foundation for the rally that carried over into later trading," HSBC analyst James Steel said in a note.Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.34 percent to 956.83 tonnes on Tuesday from 953.56 tonnes on Monday.Hansen said there was more potential appetite from speculative funds after a sell-off in early October that has led to their positions falling to the lowest since March.MKS PAMP Group trader Jason Cerisola agreed, saying: "The extreme longs on Comex have been reduced significantly providing upside support for the yellow metal and potential for another assault on $1,300."Silver was flat at $17.78 an ounce.Platinum climbed 0.45 percent to $967.50 an ounce, while palladium rose 0.63 percent to $637.00.
 Iran on Wednesday urged more Asian companies to invest in the country, saying the lifting of nuclear-linked sanctions had opened vast opportunities for foreign capital.</strongCentral bank governor Valiollah Seif told a business seminar in Singapore that reforms put in place since President Hassan Rouhani took office in 2013 helped restore economic stability while the lifting of the sanctions had reintegrated the economy with the rest of the world.Iran�s gross domestic product is expected to grow 5.0 percent this year and next, up from 3.0 percent over the past two years, Seif told the private seminar of businessmen from Singapore, Malaysia, South Korea and Australia.Iran in January signed a historic deal with western powers to end years of crippling sanctions in exchange for curbs on its nuclear programme, which Tehran has long insisted was for peaceful purposes rather than building atomic weapons."The lifting of sanctions has created unprecedented opportunities for investors," Seif said.Outside oil and gas, investors can also seek opportunities in petrochemicals, steel, copper mining, pharmaceuticals, telecoms, aviation, machinery, tourism, infrastructure and information and communication technology, he said.Seif cited Iran�s $450 billion economy, skilled and educated workforce, 80 million population and cheap access to energy resources among the country�s advantages.Iran has the world�s biggest gas reserves and the third largest oil reserves, he said.Hossein Yaghoobi Myab, director-general for international affairs at the Iranian central bank, said at the meeting that since the lifting of sanctions, companies from China, Japan and South Korea had visited Iran."We have had a lot of negotiations. Some of them have actually led into concrete agreements and compacts with the Iranian side," he told reporters, adding that there was still "a lot of potential" for further investment talks.Despite the lifting of nuclear-linked sanctions, the United States and the European Union still impose penalties against Iran over its support for armed movements, ballistic missile programme and human rights record.Iran provides financial and military support to Lebanon�s Shiite militia Hezbollah and Palestinian Islamist groups, considered by some Western countries as terrorist organisations.
 Japan's Toyota Motor Corp (7203.T) on Wednesday said it was recalling a total of about 5.8 million cars at home and abroad over potentially faulty air bag inflators made by Takata Corp. (7312.T)</strongThe recall, which includes the Corolla and the Vitz subcompact hatchback model which is marketed overseas as the Yaris, covers models produced between May 2000 and November 2001, and April 2006 and December 2014, the company said in an email.It affects about 1.16 million vehicles sold in Japan, and also includes about 820,000 cars sold in China and around 1.47 million cars in the European market.
 The World Bank, in its annual �Doing Business 2017� report has concluded that <span style="color: #0000ff;"><a href="https://www.worldbank.org/en/news/press-release/2016/10/25/record-number-of-economies-carried-out-business-reforms-in-past-year-doing-business" style="color: #0000ff;">Pakistan is among the 10 �most-improved� economies</a></span> out of 190 reviewed by the bank.</strongThe report tracks regulatory changes in 190 countries for businesses throughout their life cycle - from the ease of business start-up regulations and getting credit to property rights.Pakistan implemented 11 key reforms this past year to make the environment conducive for doing business, it said. �The bulk of the reform activity in South Asia was aimed at facilitating cross-border trade. However, Afghanistan and Pakistan, stipulate additional hurdles for women entrepreneurs.�This year, New Zealand has edged out Singapore as the easiest country for doing business in the latest rankings.The World Bank cited reductions in labor-related taxes and new regulations that make paying taxes easier as key reasons for moving New Zealand to the top spot from its previous runner-up position.Macedonia broke into the coveted top 10, while Brunei had the biggest improvement, moving to 72nd from a rank of 84th last year as it made electricity supply more reliable, passed a new insolvency law and increased protections for minority investors.According to the report, a record 137 economies made reforms to make it easier to start and operate businesses in the last year, with more than 75 percent of the changes occurring in developing countries.Kazakhstan rose to 35th place from 41st, with big weight given to its improvements in business start-up regulations, construction permits and power availability. Rounding out the 10 most-improved countries were Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, United Arab Emirates and Bahrain.This year's report tracked gender differences in scores for starting a business, registering property and enforcing contracts, finding discrimination that lowered the scores of 38 economies. Twenty-three of those had more procedures for women than men to start a business, and 16 limited women's ability to own and transfer property.The 184th-ranked Democratic Republic of Congo, for example, requires a married woman to have her husband's authorization to incorporate a business, the study said.The World Bank says better performance in the "Doing Business" rankings generally equates to lower levels of income inequality and reduced poverty."Simple rules that are easy to follow are a sign that a government treats its citizens with respect," the World Bank's chief economist, Paul Romer, said in a statement. "They yield direct economic benefits - more entrepreneurship, more market opportunities for women, more adherence to the rule of law."Most of the top 10 shifted around a bit, with Denmark staying in third place, Hong Kong edging higher to fourth from fifth, trading places with South Korea, and Norway rising to sixth. The United States, the United Kingdom and Sweden ranked slightly lower.Somalia was rated as the hardest country to do business in the latest survey.
 Oil edged above $50 a barrel on Thursday, drawing support from sources' comments that OPEC's Gulf members are willing to cut their output by 4 percent and from a further drop in U.S. crude inventories.</strongSaudi Arabia and its Gulf OPEC allies are willing to make that reduction from their peak oil output, energy ministers from the Gulf countries told their Russian counterpart this week, sources familiar with the matter told Reuters."That seems to be the reason behind the price move," said Carsten Fritsch, analyst at Commerzbank. "But the big question is, how will they handle Iraq."Brent crude was up 38 cents at $50.36 a barrel as of 1348 GMT, having risen as high as $50.67 intra-day. U.S. crude gained 28 cents to $49.46.Oil also drew support from the unexpected drop in U.S. crude inventories, and larger than expected falls in stocks of gasoline and distillates, reported this week, which raised hopes that a long-awaited market rebalancing is finally under way."The global stock overhang must be reduced in order to see higher prices. Whilst such reduction is largely in the hand of OPEC, the re-balancing is already taking place in the U.S.," Tamas Varga of oil broker PVM said.The market was keeping an eye on escalating protests in Venezuela against the rule of President Nicolas Maduro, although there was no sign of any impact on the OPEC member's oil output. Venezuelan production has been falling this year as low prices hit investment.Doubts about the Organization of the Petroleum Exporting Countries' supply cut deal have been weighing on the market this week.OPEC agreed last month its first deal to restrain output in eight years to boost prices. But Iraq on Sunday called for Baghdad to be exempt, adding to the list of members seeking special treatment.A technical meeting at OPEC's headquarters on Friday, and with officials from non-OPEC countries on Saturday, is supposed to come up with recommendations on how to implement the supply cutback to the oil ministers' next meeting on Nov. 30.The OPEC plan is designed to speed up the removal of a supply glut that is keeping oil prices at less than half their level of mid-2014, cutting exporters' income and leading to investment cuts by oil companies worldwide.
 Meeting of the Board of Directors (BoD) of National Bank of Pakistan (bank) was held today (Thursday) at Bank�s Head Office in Karachi in which the BoD approved the financial statements of the bank for the nine months period ended September 30, 2016.</strongBank�s after-tax profit for the nine months period increased by 11 percent to Rs. 13.4billion compared to Rs. 12.1 billion for the corresponding nine months of 2015. This translates into earnings per share of Rs.6.3 i.e. 11pc up against Rs. 5.7 for the comparative period last year.Pre-tax and after-tax return on equity were 26.4pc, and 15.5pc (September2015: 26.2pc and 14.5pc) respectively; whereas the pre-tax and after tax return on assets are 1.7pc and 1.0pc respectively.Despite a continued reduction in the discount rate during recent quarters, bank�s net interest income increased by 4.3pc YoY to Rs. 39.3 billion against Rs. 37.6 billion for nine months of 2015.Specific provision charge for the period was Rs. 1.9 billion, 76pc lower than Rs. 8.2 billion for the corresponding nine month period of 2015. This depicts an improvement in the assets quality of the bank. During the period, the bank earned a fee/commission income of Rs. 9.96 billion being 20.4pc up against Rs. 8.3 billion for the comparative nine months period of 2015.
 Pakistani shares fell on all days this week, bringing down the benchmark index below the 40,000 mark, as political tensions deepened between the ruling and opposition parties, spooking investors.The benchmark 100-share index of the Pakistan Stock Exchange closed down 0.29 percent, or 114.43 points, at 39,872.88.The index fell 3.4 percent this week."Fear gripped investors on increased political tensions between PTI (Pakistan Tehreek Insaaf) and ruling party Pakistan Muslim League (Nawaz) creating a selling spree on Friday," said Fawad Khan, head of research at KASB Securities Pvt Ltd.Among the gainers, Fauji Cement Company Ltd rose 3.01 percent, while Sui Southern Gas Company Ltd was up 4.98 percent.The Pakistani rupee ended slightly weaker at 104.80/104.84 against the dollar, compared with Thursday�s close of 104.79/104.83.Overnight rates in the money market fell to 5.80 percent from Thursday�s close of 5.75 percent.
 As the US presidential election moves into the home stretch, financial markets are not fully invested in polls that show a win for Hillary Clinton.</strongEven though polls show the Democratic candidate with a strong lead over Republican Donald Trump, analysts say investors are waiting until after November 8 to lay their money on the table."I don�t think it�s fully 100 percent Clinton is in," said JJ Kinahan, chief market strategist at TD Ameritrade, who sees a pullback in risk-oriented investments as a sign of investor caution."Usually people are looking to take on extra risk for reward," he said. "I think this is one case where people are paring back on their risk."Wall Street is thought to generally favor Clinton over Trump for president, and equity markets have hovered at historically high levels since July, with the S&amp;P 500 less than three percent below its all-time peak.Clinton is considered the more market-friendly outcome, expected to maintain the policies of outgoing President Barack Obama, while the market views Trump as a great unknown, both because of his penchant for controversy and his lack of a record in public office.Trump has attacked trade partners China and Mexico and accused Federal Reserve Chair Janet Yellen of being a political tool of the Democratic party. Investors are also unsettled by Trump�s seeming embrace of Russian President Vladimir Putin, a sign he may take foreign policy in radical new directions.Signs of nervousness have been seen in certain trades, analysts say, like the Mexican peso. Trump�s pledge of immigration controls and trade restrictions with Mexico have raised worries over its economy.The peso sank against the dollar as Trump�s campaign added momentum, but then rebounded on Clinton�s gains following the first presidential debate on September 26.But it remains down about 9 percent since Trump secured his party�s nomination in May.On the other hand, another gauge of market sentiment has been the biotechnology sector, which is seen as vulnerable in a Clinton presidency given the Democrat�s vow to address runaway drug prices. The Nasdaq biotechnology index has fallen about nine percent over the last month.Some analysts say the markets have already assumed a Clinton victory."To me, the markets clearly want a Clinton win and they have priced that in," said Nathan Thooft, senior managing director at Manulife Asset Management."That�s what they predict, and that�s what they want. If that doesn�t happen, I feel there�s a great level of uncertainty and possible downside to the markets."strong>- Some �complacency� over Trump -</strongIndeed, investors are aware that Trump has been consistently underestimated by the political, media and business establishment. Many are also loath to repeat the error of Britain�s June referendum to leave the European Union, when polling supported the market bet on a "stay" vote, only to be thrown into turmoil when Brexit passed."There�s a bit of complacency in the market." said Kathy Lien of BK Asset Management,"I think the market�s underestimating the possibility of things going wrong as a result of either a Trump victory or the possibility of internal strife in the nation as a result of Clinton winning," she said.Briefing.com analyst Patrick O�Hare cited sluggish trading volume, as well as the flatness of the S&amp;P 500, as a sign investors are in "seeing is believing mode" with respect to polls pointing to a Clinton triumph.One sign of a pickup in caution is the VIX volatility index, also known as the "fear" index. The index has risen the last three days and jumped nearly 8 percent Thursday to 15.36. Still, that is far below the 25.76 level on the day after the Brexit shock.A big jump in the VIX before November 8 would signal "that the market is fearing something odd," Kinahan said.
 OPEC officials meeting in Vienna to work out the details of their plan to reduce oil production failed to reach agreement after hours of talks on Friday, amid objections by Iran which has been reluctant to even freeze its output, OPEC sources said.</strongThe High Level Committee of experts will meet again in Vienna on Nov. 25 ahead of the next meeting of OPEC ministers on Nov. 30, to "finalise individual quotas", one source said.They will also meet as scheduled on Saturday with representatives of non-OPEC producers, which OPEC wants help from in curbing supplies."Yes, we continue tomorrow with non-OPEC," one of the sources said. "(There was) no complete agreement today since Iran refuses to freeze production.""We didn't finish all. We are looking to the next meeting on November 25 to finalise individual quotas," another source said.The meeting of the High Level Committee is comprised mainly of OPEC governors and national representatives - officials who report to their respective ministers.Talks lasted just over 11 hours on Friday with Iran appearing to be the main sticking point."There is no agreement yet, all agree except Iran," one OPEC source said, adding Iran was asking for an exemption.The Organization of the Petroleum Exporting Countries had agreed last month in Algiers to reduce their production of crude oil to a range of 32.50 million to 33 million barrels per day, OPEC's first output cut since 2008, in an effort to prop up prices.But from the outset the proposed plan faced potential setbacks with Iraq wanting to be exempt from cuts and countries including Iran, Libya and Nigeria whose output has been hit by sanctions or conflict also wanting to raise their output."It is getting complicated," a delegate said before the meeting began on Friday."Every day there is a new issue coming up."However, other OPEC officials including Secretary-General Mohammed Barkindo remained optimistic."Our deliberations today, and tomorrow with some non-OPEC producers, could very well have fundamental ramifications for the market, as well as for the medium to long term of the industry," Barkindo said in a speech on the opening day of the two-day meeting, according to a text provided by OPEC.The committee does not decide policy and will instead make recommendations to the next OPEC ministerial meeting on Nov. 30.Iraq, OPEC's second-biggest producer, said earlier this week that it would not cut output and should be exempted from any curbs as it needs funds to fight Islamic State.Meanwhile Iran has insisted on its right to recover market share after Western sanctions were lifted in January.Non-OPEC nations sending representatives to Saturday's talks are Russia, Kazakhstan, Mexico, Oman, Azerbaijan, Brazil and Bolivia.
 US auto sales fell in October, in a fresh sign of slowing in the industry as American automakers struggle to maintain recent high levels of demand.GM, the biggest US automaker, reported Tuesday that sales dropped 1.7 percent compared to October 2015, with 258,626 vehicles sold.FCA US, the American arm of Fiat-Chrysler, reported a 10 percent decline.Ford, the second largest automaker, delayed its sales report until later in the week, due to a fire at its headquarters which disrupted power at its main data centers.Analysts had expected US car sales to decline in October, because of fewer selling days compared to last year, weather disruptions from Hurricane Matthew in the southeast and fewer incentives offered to buyers.GM said retail sales were a bright spot, with sales to individual buyers, rather than corporate or rental fleet sales, up 2.5 percent in October compared to last year.The company said the average transaction price for its key GMC brand of pickup trucks and SUVs climbed by more than $1,800 over the year-ago period, even though unit sales dropped 4.7 percent."We gained profitable retail share in October while spending less than the industry average on incentives and commanding the industry�s best average transaction prices for any full-line automaker," Kurt McNeil, GM�s vice president of US sales operations, said in a statement.Some carmakers have reportedly cut back production amid signs of softening in demand, after years of gains and a record 2015."Planned reductions by FCA and Ford indicate a more disciplined approach to sales strategies going forward that will support a healthy automotive market," Eric Lyman, TrueCar�s chief industry analyst, said in a statement.There are hopeful signs still for a strong end to the year, when dealers offer promotions on older models. JD Power and LMC Automotive predicted a 0.8 percent slide year-over-year in sales, still close to all-time highs."We do not foresee a large pullback in sales in the near term, but the fact that retail sales are beginning to contract, despite high incentives and extremely low interest rates and gas prices, is a clear indicator that this cycle has reached its peak," JD Power senior automotive analyst John Humphrey said in a statement.
 Oil prices rose from one-month lows in Asian trading on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on managing production.</strongBut further gains are likely to be limited as the market was weighed down by further indications of record output from the group, a sign the glut that has kept a lid on prices is not draining away as fast as the oil bulls would like.U.S. West Texas Intermediate (WTI) futures were up 23 cents at $47.09 a barrel at 0725 GMT. They plunged nearly 4 percent to $46.86 a barrel in the previous session.Brent for January delivery, the new front-month contract, was up 45 cents at $49.06 a barrel. The previous front-month contract fell nearly 3 percent before expiry on Monday."After such a dramatic price drop ... this could be a bit of a technical correction. I'm still bearish on oil in the sense that the OPEC deal won't be realized," said Jonathan Chan, oil analyst at Phillip Futures in Singapore.Oil prices had risen as much as 13 percent since the Organization of the Petroleum Exporting Countries (OPEC) announced on Sept. 27 a production cut to support prices after the slump that began in mid-2014. The cartel said members' cuts will be finalised at a meeting later this month.Still, OPEC approved a document on Monday outlining its long-term strategy that would mean returning to its role of managing the market and being more proactive in anticipating market changes.That was a more bullish signal after OPEC representatives met on Friday in Vienna, and then again on Saturday with their counterparts from non-member producers, but failed to reach any specific terms, and sources said Iran has been reluctant to even freeze output."The lack of progress on implementing production quotas and the growing discord between OPEC producers suggests a declining probability of reaching a deal on November 30," Goldman Sachs said in a research note.Kazakhstan has no plans to reduce oil output despite attending the meetings of OPEC and non-OPEC producers, Kazakh Energy Minister Kanat Bozumbayev said on Tuesday.Bozumbayev told reporters the giant Kashagan field, where global majors are about to begin commercial output, would be the main driver of output growth and limiting Kashagan's production would not be possible.�OPEC's oil output likely hit a record high in October, rising to 33.82 million barrels per day as Nigeria and Libya partially resumed output after disruptions and Iraq raised overseas sales, according to a Reuters survey.
strong>NEW YORK The New York Times Co. saw profits evaporate in the third quarter due to one-time costs and a steep drop in print advertising revenues, results showed Wednesday.</strongThe prestigious US daily publisher reported a profit of $406,000 -- down 96 percent from the $9.4 million profit in the same period a year ago.Overall revenues fell one percent in the quarter to $363.5 million.The company, struggling to transition to digital, said online ad revenues grew 21.5 percent and now account for more than 35 percent of its advertising receipts.<br/>But that increase failed to offset an 18.5 percent drop in print ad revenues -- a situation faced by most traditional newspaper publishers.Taken together, advertising revenues were down 7.7 percent.�The Times added 129,000 paid digital-only subscribers in the quarter. That helped boost digital subscription revenue by 16 percent from a year ago and overall circulation revenue three percent."This quarter proved yet again that the New York Times has a very compelling digital revenue story to tell," said Mark Thompson, president and chief executive officer, in a statement."We saw exceptional gains in our digital consumer business... more than twice as many as the same quarter last year and far more than any quarter since the pay model launched in 2011."Thompson added that the company also faced "real pressure on print advertising both for us and for the rest of the industry.""We expect print advertising to remain challenged in the fourth quarter and while we will continue innovating and investing where we think it makes sense, we will remain focused on our cost structure and on rapidly growing our digital business," he said.The results were hit by one-time costs that included a $2.9 million charge for the closing of its Paris editing and prepress operations and $13 million in severance costs.<br/>The Times this year began a review of its newsroom of 1,300 to realign for the digital era, with a plan expected in the coming weeks.
 Pakistani business leaders complained Wednesday of losing millions of dollars to the government�s novel way of containing protesters: by confiscating thousands of shipping containers, many still full of goods, to block roads.</strongTransport operators complained that up to 4,000 containers had been diverted from their usual route between the southern port city of Karachi and Islamabad to block the capital�s roads this week, as opposition leader Imran Khan threatened a million-strong demonstration to lock down the government.By Tuesday Khan had called the protest off, but the containers -- many carrying medicines, perishable goods and other costly cargo -- had not yet been returned."A great injustice is being done to us as authorities have seized more than 4,000 containers carrying goods," Chaudhry Saeed Iqbal, vice chairman of the Karachi-based Pakistan Transport Federation, told AFP.Zafar Bakhtawri, vice president of the Pakistan Chambers of Commerce and Industries, estimated the losses at "millions" of dollars.He pointed out that the move also brings factories, where storage space is limited when production cannot be shipped out, to a halt.Babar Chaudhry, a local transport operator, said he had to pay fines each time his shipments fall behind schedule. "We have been urging government and held several meetings with authorities... but so far they have not stopped this practice," Chaudhry told AFP.Government officials were not immediately available for comment.- Crowd control -The sight of containers in the streets have become an ubiquitous sign of stirring unrest in major cities since the tactic was first used in Karachi in 2007.Then, the government of General (retired) Pervez Musharraf sealed the megacity with containers to stop sacked chief justice Iftikhar Muhammad Chaudhry from addressing fellow lawyers.The next "containerisation", as the tactic is becoming known, came later that same year, when current Prime Minister Nawaz Sharif tried to return from exile in Saudi Arabia. He landed at Islamabad airport but was deported immediately on a special plane.The city of Rawalpindi, where Islamabad airport is situated, was locked down with containers in preparation.Since then containers have been freely used to control crowds, even those on routine religious marches.Containers are also used to create stages at political rallies and temporary residences and offices for leaders -- though in those cases they are usually paid for by the parties concerned.In 2014 Imran Khan joined forces with populist cleric Tahir-ul-Qadri to bring thousands of protesters to Islamabad for a sit-in outside parliament.The pair turned the government�s use of containers on its head: first, by embracing them as mobile offices, each having their own fully-equipped air-conditioned container with toilets, wifi and television.They also brought their own cranes and simply removed containers -- even those filled with earth and sand -- positioned by authorities to block their path to the high-security Red Zone in front of Parliament House.
 Hillary Clinton began her presidential campaign by promising to do what it takes to rein in Wall Street.</strongBoosted by Wall Street's toughest critics, U.S. senators Bernie Sanders and Elizabeth Warren, the Democratic candidate has declared "the deck is still stacked in favor of those at the top" and said she would raise bank fees and tighten banking regulations. She has encouraged regulators to break up too-risky banks.And yet, Wall Street appears unperturbed by the prospect of a Clinton presidency. In fact, the banking industry has supported Clinton with buckets of cash and stocks have sold off on days when the Clinton campaign stumbles. Privately, bankers say that they trust her to remain a pragmatist who will keep the current regulatory regime laid down by the Dodd-Frank Wall Street reform legislation passed in 2010.�I don�t think Clinton wakes up thinking about Wall Street," one senior banking industry lobbyist said.There are hints in apparently leaked email discussions among Clinton's campaign staff that bankers are not far off the mark when they count on her to tread lightly.Pressed during the campaign by progressive Democrats to call for a revival of the Glass-Steagall Act that would require separation of commercial and investment banking, Clinton ultimately refused. She also weighed another progressive favorite - a tax on financial transactions- but instead recommended a far narrower plan to tax only canceled orders by high speed traders.Ultimately, what bankers most like about Clinton is that she is not Donald Trump.Many financiers fear her unorthodox Republican rival could disrupt global trade, damage geopolitical relationships and rattle markets, industry analysts and participants say.�Those are the kind of things that corner offices think about,� said Karen Shaw Petrou of Federal Financial Analytics Inc, whose firm advises financial firms about U.S. regulatory policy. �The overriding concern about Trump has dominated people�s thinking."Trump's candidacy has upended traditional political alliances and bankers that usually contribute more to the Republicans have been flinging money at Clinton.Employees of the 17 largest bank holding companies and their subsidiaries have been sending her $10 for every $1 they contributed to Trump, according to a Reuters analysis. In 2012, the same group contributed twice as much to Republican candidate Mitt Romney as it did to President Barack Obama's re-election campaign.strong>DEVIL YOU KNOW</strongPeople who work for hedge funds and private equity firms have contributed more than $56 million to Clinton�s presidential campaign and the supporting groups that face no legal cap on donations. Trump�s campaign and related groups received just $243,000 from donors in the same sector, according to data from the Center for Responsive Politics.�It�s basically going with the devil you know over the devil you don�t,� said Brian Gardner, a managing director of New York investment firm Keefe Bruyette &amp; Woods. What also helped, he said, was the familiarity with Hillary and Bill Clinton dating back to the 1990s when her husband was president and ushered in a period of financial deregulation.�There is a closeness and a comfort level between the titans on Wall Street and the Clintons," he said.For bankers, the biggest worry is a scenario where Clinton wins and the Democrats take control of the House and the Senate, with progressives such as Warren and Sanders holding sway over everything from new tax laws to appointments of regulators.Already, Warren has called for immediate dismissal of the Securities and Exchange Commission Chair Mary Jo White. Last year, Warren successfully led a movement to derail Obama�s plan to appoint banker Antonio Weiss to the top job at Treasury.Warren and other progressives will press Clinton to be tough on Wall Street in return for their campaign support.Clinton "leaned heavily on Senators Elizabeth Warren and Bernie Sanders, and progressive ideas, when she needed to excite voters,� Adam Green with the Progressive Change Campaign Committee said. �Elizabeth Warren has proven she�s a very powerful ally to have on your side. And it�s well known she�s also a formidable opponent to have against you,� Green said.However, recent polls suggest it is unlikely that Democrats will take the House and the future of the Senate is far from certain. Even if the Senate goes Democratic, it is likely to be led by New York Senator Chuck Schumer, a moderate who has represented Wall Street with the industry's backing.Clinton has said she will propose a "risk fee" on the largest financial firms and tighten up rules which allow banks to circumvent bans on proprietary trading by investing in hedge funds. Like Trump, she has proposed to end the tax break that private equity investors enjoy, termed "carried interest."Yet such provisions will be probably tied up in a much larger tax initiative that will involve months, if not a year or more, of horse trading in Washington. Ultimately, it could end up overshadowed by other progressive goals, such as infrastructure funding, college affordability, or raising the minimum wage.Those are the causes that Clinton has prioritized and they are likely to supersede her anti-bank rhetoric, say bankers. One industry trade group representative said: "We're not in her top 10 to take care of."
 Managing Director International Monetary Fund (IMF) Christine Lagarde has congratulated Prime Minister Muhammad Nawaz on the completion of country's IMF supported economic reform program.</strongPakistan has achieved a great deal over the past three years and I congratulate you and your colleagues on the completion of your IMF supported economic reform programme which helped restore macroeconomic stability and strengthen economy's resilience, MD IMF said in a letter addressed to prime minister Sharif.Christine Lagarde, who recently visited Pakistan, said she was encouraged that Prime Minister Sharif planned to continue pushing ahead with reforms to facilitate a deeper structural transformation of the economy and set it on a path of higher and more inclusive growth.The IMF will be ready to support Pakistan in its endeavors in any way possible, she assured.Referring to her recent visit, the IMF MD said "It was a pleasure for me to visit Pakistan and meet with you and your economic team"."I truly enjoyed my first visit to Pakistan and the engaging conversations we have had about the progress and future direction of your economic reform program.<br/>Allow me to express my gratitude for your hospitality and the excellent cooperation between Pakistan and IMF," she said.�
 A delegation of Chinese investment companies has apprised Prime Minister Nawaz Sharif of bringing $ 3 billion Investment Fund to Pakistan focusing on infrastructure development and energy sectors.</strongA consortium of Chinese investment companies called on PM Nawaz at the PM House here Friday.The Chinese delegation also expressed its intent to explore possibility of starting a new airline in Pakistan after the permission from the government of Pakistan.Talking to the delegation, Nawaz Sharif said Pakistan�s economic outlook had altogether changed in last three years and was being acknowledged globally.He said Pakistan was among the year�s global top 10 improvers in �Doing Business 2017� report.Nawaz Sharif said the country�s investment policy had been designed to provide a comprehensive framework for creating a conducive business environment for the attraction of Foreign Direct Investment.He said the country�s policy trends had been consistent, with liberalization, de-regulation, privatization, and facilitation being its foremost cornerstone.Warmly welcoming the delegation, the Prime Minister appreciated the Chinese delegation�s fruitful interaction with Ministries of Finance, Petroleum and Natural Resources, Secretary Water and Power and Capital Development Authority.The Prime Minister expressed hope that members of the Chinese delegation would have a productive visit in the backdrop of briefing by various Ministries about immense potential for investment in Pakistan�s infrastructure development, energy and communication sectors.The Chinese side said that it is actively pursuing its investments in infrastructure, power, aviation and tourism sectors of Pakistan.
 Gold eased on Friday as the dollar firmed ahead of U.S. jobs data, but looked set for a weekly gain of 2 percent, while investor appetite for the safe-haven asset stayed intact over signs of a close-run U.S. presidential election.</strongThe dollar index, inched up about 0.1 percent to 97.259, but remained captive to uncertainty around the election race."We are seeing good buying because of the uncertainty ahead of the U.S. election as people feel that gold is definitely going to go up," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central.Spot gold was down 0.3 percent at $1,299.49 an ounce by 0525 GMT, while U.S. gold futures slipped 0.2 percent to $1,300.50 per ounce."At present, the real concern is the U.S. presidential election," said Mark To, head of research at Hong Kong's Wing Fung Financial Group."Gold is going to move around $1300 levels. The sentiment has changed since the (Clinton's) server issue came up. The speculative interest has changed from rate hike to U.S. presidential elections," he added.The Fed kept interest rates unchanged after a two-day policy meeting earlier in the week and signalled it could hike rates in December.Ever since the FBI announced investigation into Democratic candidate Hillary Clinton's emails, uncertainty over the outcome of the election has peaked, with markets not ruling out the possibility of Republican Donald Trump bagging a victory.Clinton's supporters nervously eyed opinion polls showing the Democrat with a tenuous lead over Trump on Thursday as the White House candidates raced through vital battleground states in a late search for votes.U.S. non-farm payrolls data is due later in the day and will be watched by investors for cues on an anticipated December interest rate hike by the Federal Reserve."Markets will be definitely looking at the non-farm payrolls data, but the main focus for people is going to be the elections on Tuesday," Lan of GoldSilver Central added.Spot gold may revisit its Nov. 3 low of $1,285.01 per ounce, as its correction from the Nov. 2 high of $1,287 has not completed, according to Reuters technical analyst Wang Tao.SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.47 percent to 949.69 tonnes on Thursday.Among other precious metals, silver slipped 0.2 percent to $18.28 an ounce, and platinum shed 0.12 percent at $991.75.Palladium climbed 1.12 percent at $622.90 an ounce.
 Kuwait will issue billions of dollars worth of bonds in international markets to finance a budget deficit resulting from low oil prices, a report said Saturday.</strongFinance Minister Anas al-Saleh said Kuwait will issue US dollar-denominated sovereign bonds of up to $9.6 billion during the 2016/2017 fiscal year which ends March 31, Al-Qabas newspaper reported.This comes on top of a $6.6 billion domestic debt programme which is already underway.Kuwait, like other energy-rich Gulf Cooperation Council (GCC) states, has already taken on tens of billions of dollars in foreign debt to finance budget shortfalls.Saudi Arabia, Qatar, Oman and United Arab Emirates have sold bonds or took syndicated loans to plug their deficits.The minister�s decree did not specify the share of Islamic sukuk bonds in the planned issue.It will be the country�s first foreign debt in around two decades.Kuwait recorded a budget deficit of $15 billion last fiscal year, breaking a 16-year run of surpluses.Oil income contributed around 95 percent of public revenues in those years. During the past two years, oil has lost around 60 percent of its value.The emirate, home to 1.3 million Kuwaitis and 3 million foreigners, is also projecting a budget shortfall of $29 billion this fiscal year.During surplus years, Kuwait piled up around $600 billion in its sovereign wealth fund in holdings mostly in the United States, Europe and Asia.Like its Gulf peers, Kuwait has taken some austerity measures that include liberalising prices of diesel and kerosene and hiking petrol prices.A dispute over petrol prices led parliament being dissolved and snap polls set for November 26.Parliament a few months ago approved a law to raise heavily subsidised power and water fees but exempted citizens.
 The dollar jumped on Monday as news that Hillary Clinton would not face criminal charges related to her use of a private e-mail server gave the U.S. presidential contender an eleventh hour boost before the Nov. 8 election.</strongClinton has been on the defensive for 10 days since the FBI said it was looking at another large batch of emails, strengthening the chances of a victory for her opponent Donald Trump that would send a shockwave through financial markets.But the Bureau said late on Sunday that it stood by its earlier finding that no criminal charges were warranted against Clinton, sending the dollar surging against the yen and the euro, and offering relief to the Mexican peso.Traders said investors - in line with a shrinking of Trump's hopes to around 1 in 5 on predication markets - were now leaning heavily again towards a Clinton victory that would clear the way for a rise in U.S. interest rates next month."A lot has happened overnight because of the news on the email, much of the Trump discount in the dollar has already come out," said Stephen Gallo, head of European FX strategy with Bank of Montreal in London.Regardless of the outcome of Congressional elections, he said a Clinton victory should take the dollar swiftly to $1.09 per euro. He also argued that a contested election would be the worst outcome for the greenback, sending it to $1.14.Markets have tended to see Clinton as the status quo candidate, and news favoring her bid has tended to boost global risk appetite - a positive for the dollar and other higher-yielding currencies against the euro, yen and Swiss franc.The biggest loser, conversely, due to Trump's stance on immigration, foreign policy and trade has been the Mexican peso, at one point in September down as much as 17 percent against the dollar since the businessman won the nomination.The peso gained more than 2 percent to 18.62 per dollar in early trade in Europe. MXN=D4The dollar was up 1.4 percent at 104.55 yen JPY=, near session highs. It had declined to 102.550 last week as polls showed a tightening U.S. presidential race.The euro was down 0.6 percent at $1.1077 EUR=, knocked off a four-week peak of $1.1143 reached on Friday.After markets largely looked through U.S. jobs numbers on Friday that again backed the case for a rise in U.S. interest rates next month, analysts said everything else was on the back boiler ahead of the election result."It�s fairly pointless looking beyond Tuesday at this stage," said Kathleen Brooks, Research Director with City Index in London. "Everything else, until Wednesday, is playing second fiddle."
 The tea imports into the country increased by 10.79 percent during the first quarter of the current fiscal year compared to the corresponding period of last year.</strongThe tea imports into the country were recorded at $134.448 million during July-September (2016-17) compared to the imports of $121.355 during July-September (2015-16), showing growth of 10.79 percent, according to the data of Pakistan Bureau of Statistics (PBS).In terms of quantity, the tea imports into the country increased by 46.49 percent by going up from the imports of 39,537 metric tons last year to 57,916 metric tons during the period under review.Meanwhile, on year-on-year basis, the tea imports into the country increased by 1.52 percent during the month of September 2016 compared to the same month of last year.The tea imports during September 2016 were recorded at $40.253 million compared to the imports of $39.650 million in September 2015, according to PBS data.On month-on-month basis, the tea imports into the country during September 2016 decreased by 22.74 percent when compared to the imports of $52.098 million imports during August 2016.The overall food group imports into the country increased by 9.7 percent during July-September (2016-17) by going up from $1.239 million last year to $1.359 million, the data revealed.It is pertinent to mention here that the country�s exports during first quarter of current fiscal year fell by 8.98 per cent to $4.681 billion from $5.143 billion in same period of last year.The imports rose to $11.746 billion in July-September 2016-17 from $10.611 billion in first three months of the year 2015 16 thus showing an increase of 10.7 per cent.Based on the figures, the trade deficit widened by 29.21 per cent during the period under review as it went up to $7.065 billion in July September (2016 17) as against the trade deficit of $5.468 billion in same period of last year.
 Betting exchanges and online trading platforms on Tuesday said Democratic presidential candidate Hillary Clinton held a far higher probability of<br/> winning than Republican Donald Trump.While Trump made modest gains in probability to win on some online platforms as Americans went to the polls on Tuesday, many gave Clinton a better than 75 percent chance of victory.Bookmaker Paddy Power said Clinton�s chance of taking the White House dipped slightly to 81.8 percent on Election Day from 83.3 percent, while Trump�s probability improved to 22 percent from 20 percent.The flow of money is relatively even with it slightly favoring Trump," said Paddy Power spokesman F�ilim Mac An Iomaire.He said Paddy Power has seen at least 20 four- and five-figure bets placed on Tuesday.Different bookmakers and exchanges have different closing times for placing bets.<br/> Record numbers of bettors are pouring millions into online platforms in the hope of capturing a financial windfall from the election.British gambling company Ladbrokes, which has Clinton�s chance of winning at 76 percent and Trump�s at 24 percent, said it anticipated more wagers coming in for the outcome of the U.S. presidential election than had been placed on the European Union referendum - or "Brexit" vote."The U.S. election has gripped the nation," said Ladbrokes spokeswoman Jessica Bridge in a written statement."It the biggest ever non-sporting event the bookmaking industry has witnessed."British-based internet betting exchange Betfair�s "Next President" market was on track to surpass Brexit in amount traded, owing to the surprise results of the referendum that were still fresh in many Britons� minds, spokeswoman Naomi<br/> Totten said.The market saw just under $150 million wagered since it opened in November 2012, with $7 million traded in just seven hours on Tuesday.Most opinion polls leading into Britain�s June 23 referendum predicted Britons would choose to remain in the EU.Instead, they voted to leave by a 52 percent to 48 percent margin.Clinton is trading at an 80 percent chance on Betfair and Trump at a 20 percent chance of winning the White House.Trading platforms in the United States showed similar probabilities.On PredictIt, launched in 2014 and jointly run by Victoria University in Wellington, New Zealand, and Washington, D. C.-based political consulting firm Aristotle International Inc, Clinton had an 80 percent chance of victory down from 81percent Sunday, while Trump was at 22 percent, up from 20 percent.
 �Wall Street stocks dipped in early trading Tuesday as Americans began to cast their ballots to settle a contentious US presidential race that polls suggest will be close.</strongThe early losses followed a more than 2 percent surge in US stocks Monday as the S&amp;P 500 broke a nine-day losing streak on increased confidence in Democrat Hillary Clinton�s chances of victory.Clinton is a known quantity politically compared to Republican rival Donald Trump, who is widely seen as unpredictable, and markets fear a Trump victory could cast numerous policies in doubt. The statistics website FiveThirtyEight has given Clinton about a 71 percent chance of winning."We know what Wall Street wants," said Briefing.com analyst Patrick O�Hare. "We also know, based on the scope of Monday�s rally, that the fallout could be extreme if Wall Street doesn�t get what it wants."About 45 minutes into trading, the Dow Jones Industrial Average stood at 18,215.98, down 0.2 percent.The broad-based S&amp;P 500 shed 0.3 percent to 2,124.71, while the tech-rich Nasdaq Composite Index dropped 0.4 percent to 5,148.23.CVS Health slumped 14.0 percent after it trimmed its profit forecast, citing slowing prescription growth in the overall market as well as seasonal sluggishness. Rival Walgreens Boots Alliance lost 3.5 percent.Valeant Pharmaceuticals International sank 20.8 percent as it reported a $1.2 billion loss in the third quarter after writing down the value of some assets by more than $1 billion.Priceline surged 5.7 percent as it reported third-quarter revenues of $3.7 billion, up nearly 19 percent from the year-ago period. Chief executive Jeffery Boyd described market conditions as "favorable."Car-rental giant Hertz plunged 50.5 percent as it reported a 35.8 percent decline in third-quarter net income to $134 million as rental volumes disappointed and fell short of its cost-cutting targets. Rival Avis Budget Group plummeted 14.4 percent.
 The dollar steadied in Asia on Tuesday, keeping gains made in the previous session on the growing prospect of a victory for U.S. Democratic presidential candidate Hillary Clinton after the FBI cleared her of any possibility of criminal charges in its latest probe.</strongWith hours to go before Americans vote, Clinton has about a 90 percent chance of defeating Republican Donald Trump in the race for the White House, according to the final Reuters/Ipsos States of the Nation project.Federal Bureau of Investigation Director James Comey said in a letter to Congress on Sunday that the agency's review of newly discovered emails did not find anything to warrant any criminal charges against Clinton in the FBI's probe of her use of a private email server.The news prompted stock markets across the globe to rally on Monday, notching their biggest gains in weeks. Wall Street had closed lower for nine days in a row through Friday, its longest losing streak in more than 35 years.The U.S. dollar also perked up from its recent slump and gained against rivals. The greenback was steady against the perceived safe-haven yen at 104.43, well above a one-month low of 102.54 yen plumbed on Thursday."I think most people are expecting Clinton to be the U.S. president, as shown by the jump in the stock markets," said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo."The dollar/yen is firm, but on the upside, around 105 there are still some Japanese exporter orders," he said.The euro was slightly higher against the dollar at $1.1043, but well shy of its Friday peak of $1.1143, its highest since Oct. 11.The FBI's latest probe last month led to signs of a tightening race between Clinton - viewed as the status quo candidate by most investors - and her Republican challenger Trump, whose stated views on foreign policy, trade and immigration raised fears about their potential impact on global growth.The dollar index which tracks the greenback against a basket of six major currencies, stood at 97.771, well above Friday's low of 96.894, its lowest since Oct. 10.
 Donald Trump�s shock election win in the United States "is not a good day for the world economy" and could force the European Central Bank "to intervene", governing council member Ewald Nowotny said Wednesday.</strongNowotny told reporters in Vienna the ECB was "prepared to intervene" as he warned of "massive insecurities" after the vote outcome sent shockwaves through global markets."Close observation is certainly necessary right now," said Nowotny, who is on the ECB�s governing council that makes monetary policy decisions as he is head of Austria�s central bank.Europe�s recovery could also be affected if Trump�s presidency took a "menacing turn", he noted.Nowotny added he expected "a period of uncertainty in the medium term", as had happened after Britain�s decision to leave the EU in June.Trump�s surprise defeat of his Democratic rival Hillary Clinton sent stocks tumbling across Asia, although markets pared losses in European trading and London�s FTSE 100 index briefly bouncing into positive territory.Nowotny said it was too soon to predict whether the US Federal Reserve was still likely to raise interest rates in December."That will depend on how the American economy reacts in general," he said.The ECB�s chief economist Peter Praet also called for calm on Wednesday."I think we have to be calm -- calmer than the markets certainly," Praet said on the sidelines of a banking conference in Brussels."It�s too early to react to such events and we are closely monitoring the situation," he added."I think all communication on monetary policy has not changed and will not change as a result."
 Republican Donald Trump scored a series of shocking wins in battleground U.S. states including Florida and Ohio on Tuesday, opening a path to the White House for the political outsider and rattling world markets that had counted on a win by Democrat Hillary Clinton.</strongWith investors worried a Trump victory could cause economic and global uncertainty, the U.S. dollar sank and stock markets plummeted in wild Asian trading. Opinion polls before Election Day had given Clinton a slim lead.Mexico's peso plunged to its lowest-ever levels as Trump's chances of winning the presidency increased. Concerns of a Trump victory have weighed heavily on the peso for months because of his threats to rip up a free trade agreement with Mexico and tax money sent home by migrants to pay to build a wall on the southern U.S. border.Trump surged to wins in Florida, Ohio, Iowa and North Carolina, and Fox News projected a win for him in Wisconsin. With voting completed in 49 of the 50 U.S. states, he also narrowly led in Michigan and New Hampshire, edging him closer to 270 Electoral College votes needed to win the state-by-state fight for the White House.Shortly after Fox called Wisconsin for Trump, supporters at his election evening rally in New York began to chant "Lock her up" - a common refrain on the campaign trail for the former U.S. secretary of state repeatedly dubbed "Crooked Hillary" by Trump.Clinton still had ways to reach 270 electoral votes, but she would have to sweep the remaining battleground states including Pennsylvania, Michigan and Nevada, and pull off an upset win in Arizona.Trump captured conservative states in the South and Midwest, while Clinton swept several states on the East Coast and Illinois in the Midwest.After running close throughout the night in Virginia, Clinton pulled out the swing state that is home to her running mate, Senator Tim Kaine. But TrumpAt 8:55 p.m. EST, Clinton acknowledged a battle that was unexpectedly tight given her edge in opinion polls going into Election Day.She tweeted: "This team has so much to be proud of. Whatever happens tonight, thank you for everything."As of 11:40 p.m. EST, Trump had 244 electoral votes to Clinton�s 209, with U.S. television networks projecting the winner in 41 of the 50 states and the District of Columbia.A wealthy real-estate developer and former reality TV host, Trump rode a wave of anger toward Washington insiders to challenge Clinton, whose gold-plated establishment resume includes stints as a first lady, U.S. senator and secretary of state.strong>UNPOPULAR CANDIDATES</strongBoth candidates had historically low popularity ratings, although Trump's were worse than Clinton's, in an election that many voters characterized as a choice between two unpleasant alternatives.Before Tuesday's voting, Clinton led Trump, 44 percent to 39 percent in the last Reuters/Ipsos national tracking poll. A Reuters/Ipsos States of the Nation poll gave her a 90 percent chance of defeating Trump and becoming the first woman elected U.S. president.Also at stake on Tuesday was control of Congress. Television networks projected Republicans would retain control of the House of Representatives, where all 435 seats were up for grabs.In the Senate, where Republicans were defending a slim four-seat majority, Democrats scored their first breakthrough in Illinois when Republican Senator Mark Kirk lost re-election. But Republicans Rob Portman in Ohio and Marco Rubio in Florida won high-profile Senate re-election fights.In a presidential campaign that focused more on the character of the candidates than on policy, Clinton, 69, and Trump, 70, accused each other of being fundamentally unfit to lead the country.Trump entered the race 17 months ago and survived a series of seemingly crippling blows, many of them self-inflicted, including the emergence in October of a 2005 video in which he boasted about making unwanted sexual advances on women. He apologized but within days, several women emerged to say he had groped them, allegations he denied.He was judged the loser of all three presidential debates with Clinton and she led him by varying margins for months in opinion polls.Trump won avid support among a core base of white non-college educated workers with his promise to be the "greatest jobs president that God ever created." He has vowed to impose a 35 percent tariff on goods exported to the United States by U.S. companies that went abroad.His volatile nature and unorthodox proposals led to campaign feuds with a long list of people, including Muslims, the disabled, Republican U.S. Senator John McCain, Fox News anchor Megyn Kelly, the family of a slain Muslim-American soldier, a Miss Universe winner and a federal judge of Mexican heritage.
 US stock markets reversed an early fall Tuesday and surged sharply higher as voters headed to polls to choose between Hillary Clinton and Donald Trump for their next president.</strongAdding to Monday�s 2 percent gains, which came as Democrat Clinton�s chances for a victory appeared to improve, the S&amp;P 500 and Dow Jones Industrial Average were up 0.7 percent in early afternoon trade.What caused the sharp mid-morning reversal was unclear; the markets swung almost one percentage point in a short period and the closely-watched Vix volatility index, a signal of market nervousness, fell sharply at the same time.The move came at about the same time a new polling group, Votecastr, released an analysis of early voting in key swing state Florida that showed Clinton ahead of Trump.Votecastr�s analyses are not based on actual voting but extrapolations of observed turnout in Tuesday�s voting compared with actual turnout and vote data from previous elections.But Michael James of Wedbush Securities said there was no single catalyst for the surge higher; it was a continuation of Monday�s momentum."Yesterday was probably the best single day we�ve had in six months. Buyers were poised to buy at any pull-back and that is exactly what happened."Markets have shown a clear preference for Clinton, given Trump�s promises to shake up US economic policy and his controversial foreign policy statements. Clinton�s prospects for a win gained after the weekend statement by FBI director James Comey that cleared Clinton of wrongdoing over a long investigation into her private email server.At 1 pm (1800 GMT), the Dow Jones Industrial Average stood at 18,393.62, up 0.7 percent.The broad-based S&amp;P 500 added 0.7 percent to 2,146.46, while the tech-rich Nasdaq Composite Index jumped 0.9 percent to 5,213.59.
 Pakistan imported about 605,333 tones of palm oil from Malaysia during the period of January-September, which were used primarily in the food sector.</strongPakistan continued to be an important market for Malaysian products, particularly palm oil, said a statement issued here.In fact, every year several million tones of palm oil (especially palm olein) were used worldwide for frying due to the oil�s high oxidative stability which produced high quality and tasty foods.At the product launching ceremony of Minyak Cooking Oil on Thursday, Consul General of Malaysia in Karachi, Ismail Mohamad Bkri stated that the Consulate would continue to support and facilitate any efforts to expand the presence of Malaysia products in Pakistan.�There are room for improvement and strengthening the existing bilateral relations between the two brotherly countries of Malaysia and Pakistan, especially in trade�, he remarked.Minyak cooking oil is produced and packed in Malaysia.Minyak�s presence in the local market provided better choice for the consumers to select a high quality, safe and nutritious cooking oil.Consumers can be assured of the highest quality of Malaysian palm oil astringent regulations and requirements are imposed on palm oil industry in Malaysia to produce high quality products, said Rosidah Radzian, Director of Malaysian Palm Oil Board (MPOB) during her working visit to Karachi with few others official.Kaukab Iqbal, President of CAP who was invited to the ceremony said that consumers should avoid buying substandard or unhygienic products as these products are not safe and bad to health.He said that loose cooking oil is usually exposed to contamination and unhygienic handling.Therefore, he applauded MPOB and Pacific Commodities (sole importer of Minyak) for the initiative to introduce packed Malaysian palm olein in Pakistan as an excellent alternative to loose cooking oil that are common in the market.
 Oil prices dipped early on Thursday pulled down by rising U.S. crude inventories and as markets tried to interpret U.S. President-elect Donald Trump's surprise victory.</strongU.S. crude stocks rose by 2.4 million barrels to 485 million barrels last week even though refineries hiked output and imports fell, the U.S. Energy Information Administration said on Wednesday.But the inventory data was overshadowed by Trump's election victory, which initially stunned markets and led Ian Bremmer, president of U.S. risk consultancy Eurasia Group, to predict that "the world is heading into a profound geopolitical recession."Despite this, markets shook off initial post-election losses and recovered."Investors have brushed aside the shock of the Trump victory in the U.S. election," ANZ bank said.U.S. West Texas Intermediate crude futures were down 20 cents from their last settlement at $45.07 a barrel at 0131 GMT.International Brent crude oil futures were trading at $46.29 per barrel, down 7 cent from their last close.Goldman Sachs said a Trump presidency would likely result in higher investment and, in time, increased U.S. oil production as Trump has said he would de-regulate fossil fuel production.Internationally, the bank said Trump's threat of renewed U.S. sanctions against OPEC-member Iran would, in the short-term, lead to higher production as it "would further incentivize Iran to maximize production in the short term rather than comply to an OPEC freeze."This confirmed traders' doubts over the ability of the Organization of the Petroleum Exporting Countries (OPEC) and other producers, especially Russia, to coordinate a planned output cut in order to prop up prices."The outcome of the U.S. election adds to the challenges for the oil exporters because it will likely lead to weaker economic growth in an already fragile global economy. And that means additional pressure on oil demand," said Daniel Yergin, vice-chairman of the IHS Markit think tank.In physical oil markets, the Niger Delta Avengers (NDA) militant group said it had attacked the Forcados crude export line operated by oil major Royal Dutch Shell.Shell said that it had also shut down an Escravos crude oil flow station in Nigeria's Niger Delta after villagers staged a protest demanding aid.
 U.S. companies reacted on Wednesday with caution to businessman Donald Trump's victory in the U.S. presidential election and pointed to uncertainty over his lack of clear policy proposals.</strongA smattering of analyst conference calls held by companies reporting their quarterly results offered a glimpse of how they view the country's new path led by the former reality TV host.Following campaign promises by Trump to renegotiate global trade agreements and make U.S. companies move factories back to the United States, over 1,100 manufacturers and businesses offered in an open letter on Wednesday to work with him."We will look for areas upon which we agree and can work productively with your new administration," said the letter, which was signed by companies including Caterpillar (CAT.N) and Boeing (BA.N).Magellan Health, a healthcare management company, noted in a call after its report that Trump promised to do away with President Barack Obama's signature Affordable Care Act."We think it will have an impact, clearly, on our business here," Chief Executive Barry Smith said. "We don't have any details of his proposals and the process by which they will be enacted, but we will hopefully know more in the coming weeks and months here."HMS Holdings, another healthcare manager, also posted quarterly results above analysts' expectations but its stock slumped 17 percent."There hasn't been any real policy that we can react to at this point," HMS Holdings CEO Bill Luci said, addressing the election result.Sucampo Pharmaceuticals jumped as much as 31 percent after the biopharmaceutical company raised its full-year sales forecast.It was among several pharmaceutical companies rallying following months of promises by Democratic candidate Hillary Clinton to regulate drug prices."Obviously Hillary Clinton's agenda was much more well-articulated," said Chief Financial Officer Andrew Smith. "I will be interested to see what we learn as Mr. Trump takes office and we learn more about what his agenda is going to be for the industry."In its quarterly call, EV Energy Partners LP said it and other oil and natural gas producers stand to benefit from reduced regulation under Trump."My concern, obviously, is Trump himself, whether or not he will be presidential and whether he can control his ego. My major concern, specifically, will be Mexico because it's such an important ally," said Executive Chairman John Walker.�Trump has vowed to build a wall on the U.S.-Mexico border to keep out immigrants.
 US equities were lower in early trade Friday as a bounce of post-election enthusiasm for Donald Trump�s White House victory appeared to wane among investors.A half hour into trading, the blue-chip Dow Jones Industrial Average was down less than a tenth of a percent at 18,790.75.The broader S&amp;P 500 was 0.4 percent lower at 2,158.80 and the Nasdaq stood at 5,183.57, 0.5 percent below Thursday�s close.The Dow hit an all-time high on Thursday, as investors reacted jubilantly to news of Trump�s clinching the US presidency.However the Nasdaq, tied in large measure to the fortunes of Silicon Valley, on fears of poor relations with a Trump administration, finished 0.8 percent lower.Disney shares were up 2.5 percent on Friday despite posting disappointing quarterly results the day before, with operating income falling 13 percent to $1.45 billion on declining ad revenue for the sports broadcaster ESPN.Department store chain JC Penney was down 0.9 percent, recovering somewhat from a poor start after missing forecasts and reporting falling sales in the most recent quarter. Other retailers were also in negative territory, with Wal-Mart Stores down 0.6 percent and Sears 2.7 percent lower. But Home Depot rose 0.4 percent.Unease in Silicon Valley appeared to persist, with Facebook and Google parent Alphabet both moving 1.5 percent lower, Microsoft losing 0.7 percent and Apple off 0.1 percent.Stocks were also lower in the oil and pharmaceutical sectors. Pfizer fell 1.8 percent while Eli Lilly 0.7 percent. Exxon Mobil lost 1.1 percent and Chevron 0.9 percent.
 A new World Bank report has praised Pakistan continuing progress in restoring macroeconomic stability, saying it was ready to support the government�s reforms agenda to help spread its benefits more widely.</strong�After achieving macroeconomic stability, the government continued to deliver on its structural reform agenda in FY16, but much remains to be done if growth is to be strengthened and sustained,� the report said.The �Pakistan Development Update� report which is released twice a year, noted 4.7 economic growth in 2015-16 financial year, being the highest in eight years and projected the growth to accelerate to 5.4 percent in FY18, according to a statement issued here. In the medium-term, Pakistan�s growth is expected to continue to accelerate, reaching 5 percent in FY17.�Pakistan continues to make good progress in restoring macroeconomic stability. Building on this Pakistan needs to push forward with deeper structural reforms that spread benefits more widely, and the World Bank stands ready to support the reforms agenda,� says Illango Patchamuthu, World Bank Country Director for Pakistan.Pakistan�s growth was driven by domestic consumption that continues to compensate for weak global demand. The report warned that Pakistan�s low rates of investment and declining export competitiveness, however, remain a concern.The report said that growth acceleration will depend on the implementation of structural reforms, such as energy and taxation and implementation of the China Pakistan Economic Corridor (CPEC).In the long term, growth will be driven by increased investment in both physical and human capital, with increased focus on better nutrition, health and education outcomes.�Pakistan has made significant progress in reducing poverty over the last decade. Based on the revised poverty line adopted in early 2016, the percentage of people living below the poverty line decreased from 64.3 percent in FY02 to 29.5 percent in FY14,� the report said. �This reduction in poverty is corroborated when analyzing other data, such as asset ownership�, says Muhammad Waheed, Senior Economist and lead author of the report.Projected even higher growth in FY18, the report also expects a moderate increase in investment (related to CPEC projects) will to contribute to an acceleration of growth, which will continue to be driven by public and private consumption.Pakistan�s growth in FY16 was driven by strong domestic demand.Consumption accounted for an overwhelming 92 percent of GDP in FY16, and contributed 7 percentage points towards GDP growth, supported by sustained growth in remittances.Strong aggregate demand and improving business sentiments were evident in private sector credit growth of 12 percent, expanding by Rs. 461 billion in FY16 compared with Rs. 224 billion in FY15, the report said. Low inflation and low interest rates also contributed to higher credit growth.�The government�s efforts to stabilize the macroeconomic environment provided a better footing for economic activity, while marginal improvements in energy supplies facilitated manufacturing growth in particular,� the report added.The World Bank�s 2017 Doing Business report found that Pakistan improved four ranks in 2017, placing it among the top ten �most improved� countries. Revenue growth is underpinning the falling deficit, driven in FY16 by a 20 percent increase in the Federal Board of Revenue�s (FBR) collection.A series of new tax measures in the FY17 budget will broaden the tax base and are expected to contribute to another significant increase in FBR revenues. On the expenditure side, the development budget has grown faster than the recurrent budget.In the FY17 budget, an expected reduction in state-owned enterprise subsidies and interest payments has created space for an increase in infrastructure spending, including on CPEC projects.��
 Oil prices fell in early trading on Friday, as the market refocused on a persistent fuel supply overhang that is not expected to abate unless OPEC and other producers make a significant cut to their output.</strongU.S. West Texas Intermediate crude oil futures were trading at $44.40 per barrel at 0120 GMT, down 26 cents, or 0.6 percent, from their last settlement, with a stronger dollar also weighing on prices.International Brent crude oil futures were down 17 cents, or 0.4 percent, at $45.67 a barrel.Traders said that an ongoing crude and refined product supply overhang that has dogged markets for over two years was weighing on markets."Crude oil prices fell as the focus returned to supply growth. The IEA suggested prices may continue to retreat amid relentless supply growth unless OPEC makes significant supply cuts," ANZ bank said on Friday.The supply overhang could run into a third year in 2017 without an output cut from the Organization of the Petroleum Exporting Countries (OPEC), while escalating production from other exporters could lead to relentless supply growth, the International Energy Agency said on Thursday.In its monthly oil market report, the group said global supply rose by 800,000 barrels per day in October to 97.8 million bpd, led by record OPEC output and rising production from non-OPEC members such as Russia, Brazil, Canada and Kazakhstan.The IEA kept its demand growth forecast for 2016 at 1.2 million bpd and expects consumption to increase at the same pace next year, having gradually slowed from a five-year peak of 1.8 million bpd in 2015.Beyond oversupply, a surging dollar following the initial shock of Donald Trump's U.S. presidential election win also put pressure on prices, traders said.Because oil and refined products are traded in dollars, its import costs rise for any country using other currencies at home, potentially crimping demand.
 Prime Minister Muhammad Nawaz Sharif will inaugurate Gwadar Port on Sunday.A ceremony will be held in Gwadar in this connection which will also be attended by Chief of Army Staff General Raheel Sharif , Balochistan Governor Muhammad Khan Achakzai, Chief Minister Nawab Sanaullah Zehri and Islamabad-based ambassadors of several countries.Meanwhile, the first Chinese trade convoy has arrived in Gwadar through China-Pakistan Economic Corridor.The convoy comprising fifty trucks had entered Pakistan via Khunjarab.Contingents of Special Security Division of Pakistan Army provided security to the trade convoy.A Chinese Ship has already arrived at Gwadar port while another vessel is expected to arrive soon.The Chinese goods will be exported to Middle East and African countries.
 Minister for Finance Ishaq Dar on Saturday said the Companies Ordinance 2016 has been promulgated to encourage and facilitate best international corporate practices in the country.</strongPresident of Pakistan has promulgated the Companies Ordinance 2016 to replace the Companies Ordinance 1984.The ordinance, promulgated after extensive consultations with all the stakeholders, contains provisions to simplify the procedure for incorporation of companies, enabling maximum use of technology, conversion of physical shares into book entry form in unlisted companies and encouraging paperless environment at all levels.To ensure maximum participation of members in the decision making process of the company, the Companies Ordinance 2016 encourages use of modern electronic means of communication, he said, adding that it also includes special provisions to facilitate small and medium enterprises.The Companies Ordinance 2016 also includes provisions for Shariah certifications of companies and requirements for real estate companies to provide enhanced protection to investors, he added.Dar said the new ordinance provides protection to independent and non-executive directors. "It encourages non-executive directors inclusion in the board and provisions for the manner of selection and maintenance of data bank of independent directors," the ministers said in a statement.It also aims at addressing the issues relating to protection of interest of minority shareholders and creditors.The new ordinance also introduces other reforms such as relaxations for free zone companies�, registration of agricultural promotion companies for the development of agricultural sector and the establishment of Investor Education and Awareness Fund, the finance minister added.It also includes provisions for the registration of valuers dispute resolution mechanism through mediation and conciliation panel, passing of members resolution through circulation and simplified provisions for expeditious mergers and acquisitions.In addition, Dar said the Companies Ordinance 2016 emphasises maximum disclosures by Pakistanis to the local regulatory authorities in respect of investment in foreign companies.It also provides facilitation and regulation of the public sector enterprises.Under the new ordinance, the Securities and Exchange Commission of Pakistan (SECP) will maintain Companies Global Register of Beneficial Ownership, which will have complete record of the beneficial ownership of the substantial shareholders and officers in local and foreign companies doing business in Pakistan, he added.Moreover, he said, it will be binding on the foreign company operating in Pakistan to provide complete information of its directors, officers and or beneficial owners.Dar said that to ensure adequate measures against fraud, money laundering and terrorist financing, the new ordinance empowers the SECP to investigate and also conduct joint investigations.Further, provisions requiring officers of a company to take adequate measures to curb such violations have also been included.The minister said the Companies Ordinance 2016 has been promulgated to provide relief and incentives to the corporate sector, especially small- and medium-sized companies and to give immediate impetus to the economy and stimulate economic growth.There was a need to revamp the 32 years old Companies Ordinance 1984 to provide an improved competitive legal framework for the corporate sector in Pakistan.The finance minister said during various stakeholder consultations, market experts and the business community had expressed unanimous support for enacting Companies Ordinance 2016 at the earliest, as it would help address the longstanding demands of the business community.The new ordinance will reduce the cost of incorporating and doing business, which will enable Pakistan's corporate sector to remain competitive in the international markets, he added.The finance minister appreciated the efforts of the SECP, Finance Ministry and various other stakeholders who made recommendations, leading to the finalisation and promulgation of the Companies Ordinance 2016.�
 Narendra Modi's banknote recall is becoming a make-or-break moment. India's prime minister is under fire after a move to cancel large-denomination rupee notes amounting to 86 percent of the total outstanding by value. The bold step to fight corruption has left Indians queuing outside bank branches since Wednesday to swap old notes for legal tender, bringing parts of the nation's economy to a standstill.</strongThe pain is most palpable for the informal sector, which accounts for almost half of GDP and the vast majority of employment. Tendering old notes above a minimal value for new ones requires a bank account, but 40 percent of the population is outside of the formal banking system. No wonder tensions are running high.If Modi can ride out the immediate backlash, though, demonetisation could potentially provide a big fiscal boost. Suppose that holders of one-fifth of the notes in circulation will not try to exchange them out of fear of attracting scrutiny from tax authorities. That means currency worth almost $50 billion, or 2 percent of GDP, could suddenly become worthless.In theory that would sharply reduce the monetary liabilities of the Reserve Bank of India, and brokerage Edelweiss reckons that in turn could allow the central bank to pay a higher dividend to the government. Other economists suggest this may not be legally possible, but the RBI does face pressure each year to boost its payouts to New Delhi.A windfall could help India boost spending while meeting its ambitious plan to narrow the fiscal deficit to 3 percent of GDP by March 2018. It would give Modi the funds for big-ticket items such as a recapitalization of the nation's ailing state-backed lenders, which could require more than $30 billion.The twin effects of a slowdown in economic activity and the reduction in money supply should also bring down inflation, making room for more interest rate cuts, which could boost growth in the medium term.The recall is certainly working: Banks have already collected a staggering $44 billion of deposits in barely five days. Modi clearly hopes that it will do the economy more good than harm once the initial shock of last week's move wears off. Either way, it could prove central to his legacy.
 Sindh Chief Minister Murad Ali Shah has said that his government has finalized a plan to establish China-Pakistan Industrial Zone (CPIZ) at Dhabeji and develop Keti Bandar Project for coal transportation.</strongThis he said, while talking to the delegation led by Chinese Ambassador to Pakistan Sun Weidong, here at the CM House today.The meeting was attended by provincial ministers Nisar Khuhro, Mir Hazar Khan Bijarani, Acting Chief Secretary Rizwan Memon, Secretary Energy Agha Wasif and others.The chief minister said that he has allocated land at Dhabeji to establish China-Pakistan Industrial Zone. This zone would attract Chinese and other investment and it would be very near to Karachi and the proposed project of Keti Bandar for trade through sea and road routes.Murad Ali Shah said that his team led by Secretary Energy Agha Wasif had recently visited China to attend an important transport related meeting. They pleaded the case of Keti Bandar in the follow up meetings and now it has been included in the minutes of meeting which means the proposal of the project has been made official.The chief minister said that CPEC Joint Cooperation Committee (JCC) meeting is scheduled to be held next month in China. I have already directed my team to prepare detailed feasibility of Keti Bandar and prepare it as a commercial project to present there�, he told the ambassador.The envoy assured the chief minister of the support and asked him to send the details of the project.The chief minister giving details of the Keti Bandar project said that there would be a coal-jetty to export coal and coal-fired power plant(s) would also be installed there in the first phase.�Power plant needs fresh water which is not available at Thar Coal field. Fresh water is available at Keti Bander and power generation would not a problem there,� he said and added �a railway line from Keti Bander to Thar Coalfield would be laid to transport coal from Thar for power plant and export,� he said.The chief minister also briefed him on the second phase of the project in which a full-fledged seaport would be established to trade with other countries.Talking about the China-Pakistan Industrial Park, he said that he was keen to take it up in the CPEC so that its infrastructure could be developed.<br/>�The areas between Gharo to Dhabeji is an ideal place for industrial development. It is fabulous as it is connected through road network and sea routes.The Chinese Consul General, Wang Yu, Deputy Consul General Mu Yongpend and other senior Chinese official were in the delegation.
 Minister for Finance Ishaq Dar has dispelled the rumors about the demonetization of Rs. 5000 currency notes and withdrawal of Rs.40,000 prize bonds.</strongIn a statement issued by the Ministry of Finance, the minister said that these rumors are totally baseless and are spread by the vested interest for ulterior motives.He further said that even no such proposal is under consideration of the government.
 A multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from Saudi Arabia as the two oil superpowers vie for supremacy across the world.</strongThe deal between Essar and a consortium led by Kremlin oil giant Rosneft appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations.It was salvaged due to the involvement of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, who were keen for it go through, and after the consortium agreed to pay $13 billion - more than double what Rosneft had initially valued Essar at, sources told Reuters.This made the refiner the biggest-ever foreign acquisition in India and Russia's largest outbound deal.The tussle for Essar - a state-of-the-art plant in the world's fastest-growing fuel market - illustrates the growing battle for oil markets between Russia and Saudi Arabia, the world's two largest crude exporters.It also sheds light on the challenges OPEC member Saudi Arabia and non-OPEC Russia - which are also fighting a proxy conflict in Syria's civil war - will face in trying to clinch a global agreement to limit output growth to prop up oil prices.The full details of how the Essar deal was struck remain unclear. Two industry sources said it was rescued thanks to the involvement of Putin and Modi while three other sources said Rosneft had simply outbid Saudi Aramco.Officials in Modi's office declined to comment while Putin's spokesman Dmitry Peskov denied there was any Kremlin intervention in the deal."Naturally, we defend the interests of our companies. Of course we lobby for them, especially on such large deals," said Peskov, but added that in the case of Essar "there were no orders from the Kremlin"."It was a corporate decision by Rosneft to gain synergies via cooperation with India," he said.Rosneft and Saudi Aramco declined to comment.Essar said it had held discussions with several potential buyers but had gone with the Rosneft consortium because their offer was considered the most attractive. It denied there was any intervention from Putin or Modi.strong>SHOWDOWN</strongRosneft boss Igor Sechin is keen to buy refining assets around the world to guarantee outlets for Russian oil. He had been negotiating since 2014 to buy 49 percent of Essar from its owners, Indian brothers Ravi and Shashi Ruia, and the two parties had been in exclusive talks since July 2015 when a preliminary deal was signed.While the exact amount Rosneft was prepared to offer for the stake at that stage is unclear, Russian and Indian industry sources said it valued the whole of Essar at about $5.7 billion.However it became apparent that there were problems with the deal in early September, when Sechin travelled to India to meet the Ruia brothers, flying from Hangzhou, China, where he had been part of Putin's G20 summit delegation.Sechin walked into the meeting with the Ruia brothers soon after landing in India at 1 a.m., determined to close the deal, according to sources briefed on the discussions.As the meeting started, one of the brothers told Sechin the deal process had been going on for too long, the exclusivity period had expired in July and Essar was now talking to other parties.Those other parties included Saudi Aramco, he said.According to the sources familiar with how the meeting unfolded, Sechin responded by saying that if Essar walked away from the deal it risked losing Russian financial and oil-supply support.The Ruia brothers then said the talks with Rosneft were over and called an abrupt end to the meeting."People started leaving the room, embarrassed," one of the sources said. Another source said the Essar management had drafted a statement to say the deal with Rosneft was off.Rosneft and Essar declined to comment on what transpired at the meeting, or on whether such a statement had existed. Sechin and the Ruia brothers could not be reached for comment.Three Saudi-based sources familiar with details of talks between Essar and Saudi Aramco said the firm was seriously considering buying Essar. One of the sources said Aramco was prepared to pay up to $9 billion for all or most of the refiner.Aramco declined to comment on whether it had made a bid.strong>TOO BIG TO FAIL</strongIn the end, however, the Rosneft-Essar deal proved to be too big to fail.For India, a deal collapse or a delay because of talks with another party would set back Modi's drive to clean up India's $140 billion mountain of bad debt given Essar's multi-billion-dollar debts to local and foreign banks after years of rapid expansion.For Russia, the deal in the huge Indian market represented an important milestone in building a global oil empire despite Western sanctions imposed on Russia over its actions in Ukraine.Facing the Saudi competition, Rosneft formed a consortium that bought 98 per cent of the refiner plus a fuel terminal for $13 billion. The Kremlin oil firm bought 49 percent - below the 50 percent level that would have fallen foul of Western sanctions - with Swiss trading house Trafigura and Russian private investment group UCP buying the other 49 percent.According to the Indian and Russian industry sources, Rosneft and Essar returned to the negotiating table within days of the spat in early September, and the deal was finally struck.One of the sources said there was a fierce battle between Essar and Rosneft over the terms. They said the Russian-led consortium was forced to outbid the Saudi offer, which they said comprised a combination of cash, long-term low interest credit and oil supplies.Trafigura declined to comment on how the deal came together, while UCP did not reply to a written request asking for comment. Washington said the deal did not violate sanctions.The deal was signed in Mauritius on Oct. 14, a day before a formal announcement on the sidelines of a BRICS summit in Goa where Putin and Modi met. The leaders also oversaw the signing of a raft of other transactions including India agreeing to pay $5 billion for Russian long-range air defence missile systems.Two industry sources said the Essar deal had first been discussed by Putin and Modi as far back as May 2014 on the sidelines of the St. Petersburg Economic Forum, Russia's main investor show.It was unclear what form - if any - high-level government intervention might have taken after the September dispute.But the two sources said that without political will in Moscow and New Delhi, an agreement could not have been struck."Putin and Modi saved that deal," said one.
 MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day.</strongAsian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the dollar paused for now.Japan's Nikkei rose 1.0 percent to nine-month high thanks to the fall in the yen against the dollar.On Wall Street, the Dow Jones industrial average rose 0.29 percent to a record high while the S&amp;P 500 gained 0.75 percent.Since Donald Trump's unexpected victory in the U.S. Presidential election last week, U.S. shares have rallied while U.S. bond prices tumbled, pushing up their yields sharply, as investors expect higher inflation under his presidency.His plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap imports, if implemented, are seen likely to push up prices."The markets are having a bit of a pause at the moment. But people still want to do more of this trade. If you look at the U.S. markets, investors are looking at coming infrastructure spending and so on and they are rotating to stocks from bonds," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo.The yield on 10-year U.S. Treasuries slipped to 2.230 percent from Monday's 11-month high of 2.302 percent, although that is sharply above its levels around 1.86 percent before the election.U.S. retail sales rose more than expected in October, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month.U.S. interest rate futures are pricing in an 85 percent chance of a rate hike, compared to 75 percent before the election.Nikko SMBC Securities estimates U.S. two-year notes are currently pricing in five Fed rate hikes in the next two years, said senior strategist Makoto Noji."If we base our assumption on (Fed Chair Janet) Yellen's gradualist approach, which can be roughly translated as two rate hikes per year, we could say that the market has already priced in tightening they could reasonably imagine at this point," he said."But of course if Trump's policies stoke inflation that cannot be contained by two rate hikes per year, the U.S. bond market could see big moves again," he added.Sharp gains in U.S. bond yields are seen as boosting the attraction of dollars.The dollar's index against a basket of six major currencies hit its highest level in almost a year.It stood at 100.16, standing just 0.3 percent below its 13-year peak hit in December last year.The euro traded at $1.0724, just above Monday's $1.0709, its lowest level in almost a year.The U.S. currency fetched 109.03 yen, having hit 5 1/2-month high of 109.34 yen.Gold traded at $1,228.6 per ounce, not far from a 5 1/2-month low of $1,211.8 seen on Monday.The dollar's strength has fanned fears investors could shift their funds to the U.S. from emerging markets. Emerging market stocks managed to rise 0.3 percent on Tuesday after having fallen 7 percent over the previous four sessions.In contrast, oil prices hovered near their highest levels in about two weeks after having jumped nearly 6 percent on Tuesday on bets OPEC members will agree to cut output when they meet later this month.U.S. crude futures stood at $45.67 per barrel, after having risen to $46.09 late on Tuesday, their highest since Nov 2.
�Chinese manufacturers are driving growth in the smartphone market as sector leaders Samsung and Apple sputter, a survey showed Thursday.</strongThe survey by Gartner Inc. showed that in the third quarter, three Chinese vendors -- Huawei, Oppo and BBK Communication Equipment -- together accounted for 21 percent of the smartphones sold worldwide, and were the only vendors in the top five to increase sales."Sales of smartphones in China grew by 12.4 percent, and the vendors who most successfully exploited the sales opportunities there were Oppo and BBK," said Gartner analyst Anshul Gupta."In Oppo�s case, 81 percent of its smartphone sales came from China, while BBK accounted for 89 percent of smartphones sales in China. These two vendors also grew strongly in India, Indonesia, Malaysia, Thailand and Russia."Gartner�s survey confirmed other reports showing Samsung and Apple at the top of the global market but with slipping sales.The research firm said Samsung�s market share dropped to 19.2 percent amid the fiasco over its Galaxy Note 7 smartphones, which were recalled and then halted after overheating batteries leading to fires."The decision to withdraw the Galaxy Note 7 was correct, but the damage to Samsung�s brand will make it harder for the company to increase its smartphone sales in the short term," said Gupta."For Samsung, it�s crucial that the Galaxy S8 launches successfully, so that partners and customers regain trust in its brand."�Apple�s share dropped to 11.5 percent as the iPhone maker failed to get much benefit from Samsung�s woes, Gartner said."The withdrawal of Samsung�s Galaxy Note 7 may benefit sales of Apple�s iPhone 7 Plus only slightly, as Note 7 users are likely to stay with Samsung or at least with Android," said Gartner�s Roberta Cozza."To some extent, other Android vendors could capitalize on this situation in the short term -- for example, Huawei and other Chinese brands present in the premium Android phone segment."Cozza said the Samsung problems could also benefit Google, which recently introduced its Pixel and Pixel XL devices.�Gartner said overall smartphone sales in the quarter rose 5.4 percent to 373 million units
After the success of its �Great Online Shopping Festival (GOSF)� in September, Yayvo is all set to launch their first Black Friday sale, which they claim to be nothing less than the biggest shopping extravaganza in Pakistan.�There will be discounts of up to 80% on over 1,000 products; exclusive brand launches; cost-effective deals backed by immediate (within 120 minutes) nationwide delivery through the TCS logistics network.To add new flavors to their Black Friday, Yayvo.com has entered into a strategic partnership with foodpandaas their exclusive food partner. With an aim to lead Pakistan�s US$ 600 million E-Commerce market together, both the e-commerce giants joined hands to give their customers the most holistic proposition - drool worthy deals and jaw-dropping discounts on food, alongside techy gadgets, beauty products and other household items.In a formal alliance ceremony on 16th November 2016, taking pride in initiating the partnership, Marketing Manager foodpanda, Omair Baksh said,�Foodpanda is always on the lookout to provide great value for customers. In this same spirit we have partnered up with Yayvo for the upcoming Black Friday event. Through this partnership we aim to bring exceptional discounts for existing customers of foodpanda and Yayvo, and at the same time introduce new customers to the e-commerce space in Pakistan".Reflecting upon the whole idea behind the alliance, Head of Yayvo, Adam Dawood said, ��a Partnership between Yayvo and FoodPanda is a natural alliance. Both our companies are focused on getting deliveries to our customers in the fastest possible time whether it be a piping hot pizza, or the hottest new phone. This collaboration marks a further cementing of e-commerce players who are working together to grow the overall online customer pie (pun intended)�During the ceremony, foodpanda announced exciting deals and premium discounts on the top restaurants in all major cities of Pakistan. Big and small, all prominent names in the food industry are expected to come onboard with exclusive Black Friday deals and discounts to make #YayvoBlackFriday the most exciting ever. We also found out that random customers will be surprised with special foodpanda discount vouchers with their orders during the sale.So, get set to charge yourself up with your favourite food on insanely discounted prices with foodpanda while you browse through more than 1000 on-sale products on Pakistan�s most prodigious Black Friday sale ever!strong>About foodpanda</strongfoodpanda is a global mobile food delivery marketplace headquartered in Berlin, Germany, and operating in 24 countries and territories. The service allows users to select from local restaurants and place orders via its mobile application as well as the website. The company has partnered with over 40,000 restaurants. foodpanda is one of the fastest growing e-commerce businesses in Pakistan; recently the online giant achieved a truly extraordinary milestone in record time when it reached PKR 1 billion in revenue generation.strong>About Yayvo</strong><br/>Yayvo.com, backed by TCS E-COM (Pvt.) Ltd., is one of the leading e-commerce players in Pakistan, offering an exciting online shopping experience with a promise of reliability and speed. With an unparalleled assortment of leading brands offering Electronics, Mobile Phones, Beauty products, and other Lifestyle options, they aim to provide shoppers with the ease to choose from an infinite range.
 Iran overtook political rival Saudi Arabia as India's top oil supplier in October, shipping data showed, just ahead of a producers' meeting this month to hammer out the details on output cuts aimed at reining in a global glut.</strongIran used to be India's second-biggest oil supplier, a position it ceded to Iraq after tough Western sanctions over its nuclear development programme limited Tehran's exports and access to finance.But India's oil imports from Iran have shot up this year after those sanctions were lifted in January. In October they surged more than threefold compared with the same month last year, rising to 789,000 barrels per day (bpd), according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.That compares to 697,000 bpd supplied last month by Saudi Arabia. Over the whole January to October period, though, Saudi Arabia still holds India's top supply spot, at an average of 830,000 bpd versus Iraq's 784,000 bpd and Iran's 456,400 bpd.Iran's surge to the No.1 spot is due partly to less available crude from Saudi Arabia, which has increased its capacity to refine oil instead of just exporting more crude."Saudi Arabia's refining capacity has increased over time so it is not in a position to increase its exports further, whereas Iran is better placed to raise its output and sales to India," said Ehsaan Ul Haq of U.K.-based consultancy KBC Energy.The surge is also thanks to Iranian price discounts, which attracted purchases from India's programme to build up its strategic petroleum reserves (SPR). Last month India took in 2 million barrels of Iranian crude for the SPR stocks, and another 4 million barrels is expected to be shipped in November.In the first seven months of its fiscal year, between April and October, India imported 523,200 bpd from Iran, compared to 249,100 bpd for the same period a year ago.strong>RETURNING BUYERS</strongIndian refiners including Reliance Industries Ltd, operator of the world's biggest refinery complex at Jamnagar, that had stopped imports from Iran during the sanctions period have also returned as buyers of Iranian oil.Iran produces almost 4 million bpd of oil and exports 2.4 million bpd. Tehran's exports dropped to 1 million bpd during sanctions, down from a peak of almost 3 million bpd in 2011, before tougher Western sanctions were implemented.Gaining the top position as oil supplier to the world's third-biggest importer, even if only for one month, comes at a sensitive time.The Organization of the Petroleum Exporting Countries (OPEC) is due to meet on Nov. 30 to finalise a planned production cut aimed at propping up prices, which continue to languish below $50 per barrel due to oversupply.Exemptions to the planned cuts were given to Libya and Nigeria, where output has suffered from conflict, and sanctions-hit Iran. Given Iran has now pipped de-facto OPEC leader Saudi Arabia in India, those exemptions might be more difficult to defend during the upcoming meeting.
 Stalled luxury hotel and apartment projects next to the U.S. Embassy in the Afghan capital may have lost American taxpayers $85 million and left the partially constructed buildings as security threats, a government watchdog said on Thursday.</strongThe projects were partially funded by the Overseas Private Investment Corporation (OPIC), a U.S. government agency that aims to help foreign investment.But both now appear to have been abandoned in a climate of increasing concern over security, according to a letter to OPIC from the Special Inspector General for Afghanistan Reconstruction.A suicide bomb attack on Wednesday killed four people in Kabul, illustrating the precarious security involving not only Islamic State and a Taliban insurgency but also a wider breakdown in law and order as government control has weakened."The $85 million in loans is gone, the buildings were never completed and are uninhabitable, and the U.S. Embassy is now forced to provide security for the site at additional cost to U.S. taxpayers," the letter said, accusing the developer of possible fraud and OPIC of lax oversight.Ground was first broken for the hotel in 2004 by then-Afghan President Hamid Karzai, with the project financed in part by an OPIC loan of $40 million that U.S. officials at the time called the "largest U.S. private investment in Afghanistan since the fall of the Taliban" in 2001.It was initially to be run by Hyatt International Corporation and finished in 18 months, according to news reports at the time, but that never happened.By 2007, a group of companies received a new loan of $60 million to complete the hotel and Marriott International had agreed to manage it, the letter said. It is not clear what happened to the initial $40 million in loans.strong>"FALSE ASSURANCES"</strongIn 2013, construction was dragging on, but the developer, incorporated in the British Virgin Islands, promised it would be complete by the end of the year and OPIC approved the disbursement of the last funding, SIGAR reported in the letter.Marriott reportedly withdrew from the hotel and right after receiving the final loan funding, the developer told OPIC it was stopping all work on the project, SIGAR said."Based on our inspections it is clear that the assurances made to obtain the final loan disbursement were false and misleading," investigators said. "We are currently determining whether earlier representations made to justify the prior disbursements were also false and misleading."To this day the hulking building sits empty, overlooking the U.S. Embassy which pays an untold amount of money to secure the structure, according to SIGAR.The same developer was also involved in a related project to build a neighbouring apartment complex with $27 million in OPIC loans, but construction there was also halted after the company received the last funding, SIGAR reported."As with the hotel, we found that the apartment project was never finished and appears to be abandoned, and that representations made to OPIC that the building could open by August 2013 were blatantly false and unrealistic."In a response to SIGAR, released along with the letter, OPIC said it was aware of "issues" with the building, but that at the time it believed the developer was making "good faith efforts" to complete the project."As a lender, OPIC does not control the project, but has encouraged the project developer to find a third party to either purchase the project or provide additional funds to complete it," the agency said in its response.
 A new Ordinance to replace the present Companies Ordinance was moved to National Assembly Friday to facilitate business community and empowering Securities and Exchange Commission (SECP) to probe money laundering terror financing and fraud.</strongMinister for Finance Revenue Statistics and Economic Affairs Muhammad Ishaq Dar moved the bill to the new Ordinance Companies Ordinance 2016 to the House.This Ordinance has been recently promulgated to replace the previous 32 years old Companies Ordinance.Briefing the House about the new Ordinance present before the House would meet the requirements of present age emerging after massive investment coming to Pakistan.He said consultations were held for over one year to bring in this comprehensive law and was promulgated after approval by the Cabinet.Under this law there will be provision of filing of documents with SECP filing of notices and information about documents provision of e balloting during election of Directors and holding session through video links.It will be mandatory for listed companies.The minister said the new proposed law will also have provisions of book entry for physical shares registration of Shariah businesses and protection of investors� money in real estate business.He said the proposed law will also ensure maintenance of data bank for protecting interests of small share holders.Dar said the proposed law was also discussed in detail in the perspective of offshore companies and will have binding on companies to declare their investors and beneficiaries as it will also ensure registration and maintenance of assets.He informed the House that major penalties have been proposed for non disclosure of assets of the companies.He said the SECP will have powers to probe money laundering fraud and terror financing as this law will also save time for being in line with in international practices.The minister said the new ordinance will also simplify the provisions of merger and acquisition of companies as well as facilitating agriculture promotion companies.He also welcomed any proposals by the House at the Committee level as he pleaded that this law was need of the hour and the government would like valid input by the members.
 the 21-member Free Trade Area of the Asia-Pacific (FTAAP) and a 16-member Regional Comprehensive Economic Partnership (RCEP), which notably includes India but not the United States.Xi urged regional leaders to advance both deals at a summit in Lima, Peru, where the uncertainty unleashed on the world stage by Trump�s victory loomed large."Building a Free Trade Area of the Asia-Pacific is a strategic initiative critical for the long-term prosperity of the Asia-Pacific," Xi said in a keynote address to business leaders from the Asia-Pacific Economic Cooperation (APEC) group."We should firmly pursue FTAAP," he said. "Openness is vital for the prosperity of the Asia-Pacific."In the face of Trump�s protectionist rhetoric, he vowed China "will not shut its door to the outside world, but open it even wider.""We will fully involve ourselves in economic globalization by supporting the multi-lateral trading regime, advancing the FTAAP and working for the early conclusion of the negotiations on the Regional Comprehensive Economic Partnership," he said.China describes RCEP as a stepping stone toward FTAAP, a vast plan that would include all 21 APEC members and is expected to take years, if it happens at all.The meeting of APEC, which accounts for nearly 40 percent of the world�s population and nearly 60 percent of the global economy, is US President Barack Obama�s last foreign visit before handing over to Trump on January 20.Obama and Xi, the leaders of the world�s top two economies, were due to hold their last meeting later Saturday.
 Pakistan has witnessed an amount of Rs. 1,492 billion which was transacted through Mobile Banking during 2015-16.</strongThis is testimony of the fact that transaction through mobile money has potential to expand reach of banking services to 85 per cent unbanked population of Pakistan.During October to December, 2015 the total volume of branchless banking was over Rs.486 billion while the number of branchless banking transactions surpassed Rs. 101.6 billion during same period.The amalgamation of Information and Communication Technologies (ICTs) and banking services can help in moving towards a fully documented economy which is necessary to improve the tax collection circle and achievement of 18 per cent tax to GDP ratio as stated under the goals of the Pakistan Vision 2025.As per data in Pakistan Telecommunication Authority (PTA)�s annual report, the telecom sector has contributed Rs. 157.8 billion during fiscal year 2015-16 to national kitty as compared to Rs. 126.3 billion registered during previous year.The comparison of growth between telecom revenue and telecom contribution over last fiscal year showed that the government collections have actually increased by 25 per cent whereas telecom revenues witnessed only 1.47% have raise during 2015-16.The unprecedented collection during 2013-14 was mainly due to extraordinary deposits as a result of 3G and 4G spectrum auction.In reported period telecom sector continued to grow positively in terms of subscription, revenues and tele-density.Broadband penetration has increased to 18.3 per cent from just 2 per cent in year 2014.The ICT solutions, being offered on mobile broadband, are making a big difference in every walk of life.Hundreds of billions of rupees are being sent and received over the mobile money channels by people of Pakistan.The innovative and cost-effective solutions are also being offered in e-commerce, online education, e-health, travel and governance sectors.Due to such high demand for mobile broadband services, Telenor Pakistan acquired 4G spectrum for US $ 395 million during 2015-16.Furthermore, the government collections will also increase from other sectors of economy due to broadband and ICT proliferation.It may be further added that one component of overall government collections i.e. GST was decreased but there could be a number of factors behind this decline.For example, the Federal government and the Government of Punjab have exempted GST on internet/data services whereas the Government of Sindh is charging reduced rate on internet/data services.Resultantly, the share of tax-exempted data revenue in total telecom revenues increased to 29 per cent in 2015-16 as compared to 19.3 per cent in 2013-14.However, the trade-off between GST collection and internet/broadband development turned out to be a wise decision by the Federal, Punjab and Sindh governments.
 Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump's election to president could accelerate fund outflows from emerging markets.</strongMSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near four-month lows. Japan's Nikkei rose 0.3 percent as the yen continued to slip against the dollar.Trump's unexpected election victory has led to a major repricing of assets, with investors rushing to buy U.S. stocks and the dollar, while dumping bonds and emerging market assets.Carrying out even some of his plans for deregulation and tax cuts would undermine assumptions investors had long held - that the U.S. economy would grow modestly and inflation would remain tame in the foreseeable future.Trump's protectionism could hurt many of U.S. trade partners, including emerging markets which could see decline in exports to the U.S..To be sure, investors have little idea to what extent Trump can implement his proposals, including slapping tariffs on major trading partners such as China and Mexico and heavy tax cuts that would widen the U.S. fiscal deficit.Some investors think the market will have reality check as soon as differences between the new administration and Congress appear over some of Trump's policies."Next week, we have events that would make investors more sober, such as OPEC meeting and Italian referendum. By then this Trump-inspired market may come to an end for now," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.Yet heightened uncertainty prompted investors to demand a larger premium for holding long-term U.S. debt, with the 10-year U.S. Treasuries yield soaring to 2.364 percent by last week from around 1.86 percent before the elections.It last stood at 2.353 percent, with a rise above its 2015 peak of 2.5 percent seen as having potential to spark a further sell-off as bond prices fall.Higher U.S. yields are helping the dollar continue its bull run. The U.S. unit rose to as high as 111.125, its highest level since early June. It last stood at 110.865.It has risen almost 10 percent from its low of 101.19 hit on Nov 9, when markets initially took Trump's victory will trigger a rush to safer assets such as the yen.The euro traded $1.0589, having hit a near one-year low of $1.0569 on Friday.The Australian dollar hit 4 1/2-month low of $0.7315.The data from the U.S. financial watchdog showed on Friday that in the first week after the U.S. elections speculators hardly increased their net long positions in the dollar."This suggests the leveraged fund community largely missed out on the dollar rally," analysts at ANZ Research wrote.Oil prices rose in early Monday trade after five-percent gains last week, their first weekly gains in about a month, on growing expectations that OPEC will find a way to cap production.The Organization of the Petroleum Exporting Countries is moving closer to finalising its first deal since 2008 to limit output, with most members prepared to offer Iran flexibility on production volumes, ministers and sources said.Brent crude futures LCOc1 rose 1.1 percent to $47.35 per barrel.
 Pakistan International Airlines is looking at Boeing's 777X and Airbus's A330 and and A350 models as it evaluates options for new aircraft orders, an airline executive told reporters on Tuesday.</strongAs part of its evaluation of potential aircraft orders, the airline was not considering Airbus's A380 or Boeing's 787 aircraft, the latter of which has "some technical issues," said Raheel Ahmed, executive director of human resources and works at the airline.
 Panama can remain a competitive financial center while cracking down on tax evaders and other criminals who have used the country to launder money, according to the panel formed by the government after the "Panama Papers" scandal broke in April.</strongThe five-member "Committee of Independent Experts", including a former boss of the Panama Canal, said the country needs to get in line with United Nations transparency standards, adopt tougher anti-corruption legislation and tighten regulation of trusts."The moment has come. The country can no longer postpone decision-making in this field," said the 23-page report released on Monday.A leak in April of more than 11.5 million documents from the Panamanian law firm Mossack Fonseca, dubbed the Panama Papers, sparked outrage by showing how the rich in many countries go offshore to avoid paying taxes while working families pay theirs."Panama is already acting on most of these issues, including strengthening the regulations that apply to trusts and aligning ourselves with international standards," Dulcidio de la Guardia, the country's economy minister, told Reuters in a telephone interview after the report was released.He said the budgets of financial regulatory agencies have already been raised as part of the effort.The report, which stressed the need for Panama to remain a magnet for banking and other service industries, calls for "transparency in identifying the final beneficiary of legal and financial instrument".This was a recommendation made by Nobel Prize-winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth, both of whom resigned from the panel in August, claiming that Panama would not promise to make its report public without first being vetted by the government.The official report went to President Juan Carlos Varela on Friday, before being released on Monday.Stiglitz and Pieth published findings of their own last week, saying that countries that fail to give up their secrecy jurisdictions should be cut off from the global financial system.The Panama Papers showed money was hidden in ways that law enforcement agencies could not detect. The culprits were not only tax dodgers, Stiglitz and Pieth said, but money launderers for a wide variety of criminal groups including a Russian child pornography ring.The official report calls for "anti-corruption legislation that addresses acts performed by Panamanian nationals or economic groups established in Panama that directly or indirectly participate in the implementation of illegal activities in third countries."
 Tokyo stocks opened flat on Tuesday as investors assessed the impact of a strong earthquake that triggered tsunamis along Japan�s northeast coast, although no major damage was immediately reported.</strongTokyo�s bellwether Nikkei index had risen to a 10-month high by Monday as the dollar soared against the yen on expectations the Federal Reserve will raise interest rates next month.But the yen, which is often bought as a safe haven in time of uncertainty, strengthened Tuesday soon after the quake."Stocks would have been off to a strong start but there�s a bit of a wait-and-see mode due to the earthquake," said Nobuyuki Fujimoto, a senior market analyst at SBI Securities Co."Investors will eye news on the earthquake but as long as the damage isn�t extreme, there won�t be lasting impact on markets," he told Bloomberg News.The benchmark Nikkei 225 index slipped 0.09 percent, or 15.62 points, to 18,090.40 in the first few minutes of trading, while the Topix index of all first-section issues was up 0.04 percent, or 0.52 points, at 1,443.45.The dollar was trading at 110.60 yen Tuesday, compared with levels above 111 yen seen before the earthquake.A stronger yen is negative to the stock market as it eats into exporters� profitability.A powerful 6.9-magnitude earthquake hit Japan�s northeast early Tuesday, triggering warnings of tsunami waves as high as three metres (10 feet) on the coast near the stricken Fukushima nuclear power plant.Several tsunamis, the biggest measuring 1.4 metres (4.6 feet), were observed on the northeastern coast, according to NHK.One measuring one metre (3.3 feet) was recorded at the Fukushima plant but operator Tokyo Electric Power (TEPCO) said there were no reports of any problems as a result of the wave.Shares in TEPCO fell 1.17 percent to 422 yen in early trading.
 China�s President Xi Jinping vowed to strengthen world trade in the face of US President-elect Donald Trump�s threat to pull out of a key trans-Pacific accord.Speaking on a visit to Chile on Tuesday, he vowed to "push to build an Asia-Pacific free-trade zone and an open world economy."Trump on Monday vowed to withdraw the United States from the Trans-Pacific Partnership (TPP) trade pact on his first day in the White House.On the last stop of a tour to strengthen trade ties in Latin America, Xi said he and Chile�s President Michelle Bachelet agreed to join in a "full strategic relationship."They expanded their countries� existing free trade agreement and signed 12 cooperation agreements."To drive the long-term development of bilateral ties, we have decided to enhance our bilateral relations to a strategic relationship and open a new page in ties between Chine and Chile," Xi told a news conference.Chile is the world�s biggest copper producer and the second-largest producer of salmon.China is its biggest trade partner, receiving a quarter of all Chilean exports last year.Xi also signed 18 new agreements with Peru on Monday.�
 As Senate Chairman Raza Rabbani ruled against government institutions which refused to disclose names of beneficiaries before the Parliament, Jang Group's months long investigation revealed that more than 80 percent loans were written off by the state-owned banks and private financial institutions in last 25 years in tenure of former military ruler Pervez Musharraf, bursting the myth of politicians being the most corrupt lot.Of estimated total Rs209 billion, one hundred and seventy six billion rupees (Rs176 billion) were waived off by state-run-banks and private banks from 1999 to 2008, showed official documents exclusively obtained by Geo News/The News/Daily Jang from the State Bank of Pakistan (SBP), Supreme Court of Pakistan (SCP) and other public and private financial institutions.Around 172 biggest defaulters, who got waived off their loans worth over Rs50 million each, included politicians, retired generals, businessmen, industrialists and agriculturalists.Estimated loans worth Rs22.823 billion waived off in three tenures of Pakistan Muslim League-Nawaz (PML-N) which ruled the country from 1991-1993, 1997-1999 and 2013 to onward, according to official documents accessed by this correspondent.Estimated Rs14.129 billion were waived off by commercial banks in three terms of Pakistan Peoples� Party (PPP) which ruled the country from 1988-1990, 1993-1996 and 2008 to 2013.State-run financial institution�National Bank of Pakistan (NBP)�waived off estimated Rs32 billion from 1990 to 2015. Of these Rs32 billion, around Rs27 billion (80%) were written off in Musharraf�s regime.Of estimated Rs11 billion, over eight billion rupees (Rs8 billion) were waived off by another state-owned bank�Zarai Taraqiati Bank Limited (ZTBL)�from 1999 to 2008. Around 0.7 million borrowers either got waived off their principle amount worth estimated Rs99.197 billion during this period, markup amount worth Rs40.343 billion or in terms of miscellaneous cases worth Rs69.403 billion, documents further revealed.Around 5, 611 borrowers got their loans worth Rs27.3 billion waived off from different banks in 2008 and 3, 028 borrowers got written off their loans worth Rs25.2 billion in 2007.As many as 4, 018 borrowers got their loans worth Rs33.5 billion waived off in 2006�the year witnessed a record waiver in twelve months in country�s history.Three dozen commercial banks waived off Rs30.5 billion of 1, 108 borrowers in 2005, Rs21.5 billion loans of 1, 005 individuals in 2004, Rs9.3 billion of 718 borrowers in 2003, Rs14.7 loans of 787 customers waived off in 2002, Rs5.8 billion loans of 785 individuals in 2001, Rs3.3 billion loans of 424 customers in 2000 and 612 borrowers got off their loans worth Rs5.1 billion in 1999.Estimated Rs5.19 billion were written off by various banks in 2013, Rs4.518 billion in 2014, Rs9.815 billion and Rs3.3 billion this year while Rs11.3 billion were waived off in two terms of PML-N (1991-93 &amp; 1996-1999).Estimated Rs9.1 billion were waived off in last government of PPP (2008 to 2013), Rs2 billion from 1993 to 1996 in second term while Rs3 billion were written off in PPP�s first regime started from 1988 to 1990.Around 912 borrowers got their loans waived off more than Rs50 million while over 20, 000 borrowers obtained benefits in terms of getting their loans written off worth less than Rs0.5 million with an estimated collective amount of Rs50 billion.The case of loans waived off was with the SCP since 2009 where judges observed: �We [judges] fail to understand why government was not interested in recovering loans which belong to public exchequer and this court took suo moto notice, constituted a commission which concluded that the loans were written off contrary to the law prevailing at the time.�Around 856 individuals got waived off their loans worth estimated Rs32 billion from state-run financial institution�NBP�from 1990 to 2015. Some 129 individuals got their loans waived off over Rs50 million each during this period.Estimated loans worth Rs4 billion of 129 individuals written off by NBP in three tenures (including the current one) of PML-N.Estimated loans worth Rs1 billion were waived off by NBP in three terms of PPP (1989-90, 1993-96 and 2008-2013). Some 18 individuals benefitted from it.NBP waived off loans worth Rs89 million in 2015, Rs303 million in 2014, Rs80 million in 2013, Rs224 million in 2012, Rs297 million in 2011, Rs472 million of 24 individuals in 2010, Rs639 million of 29 individuals in 2009, Rs2.5 billion of 68 individuals in 2008, Rs4.3 billion of 123 borrowers in 2007, Rs2.9 billion of 103 individuals in 2006 and Rs4.8 billion of 166 borrowers in 2005.Around 657 individuals got waived off loans worth Rs11 billion from ZTBL in 1990 to 2015. Some 43 individuals go their loans waived off more than Rs50 million each during this period.Loans worth estimated Rs8 billion were waived off in Musharraf�s era. Some 190 borrowers got waived off their loans worth Rs1.140 billion in PPP�s three tenures. Around Rs2.1 billion of around 203 borrowers were waived off in three tenures of PML-N.ZTBL administration waived off loans worth Rs196 million of 252 borrowers in 2015, Rs48 million of 51 individuals in 2014, Rs128 million of 47 borrowers in 2013, Rs213 million of 71 borrowers in 2012, Rs73 million of 87 borrowers in 2011, Rs11 million of 11 individuals in 2010 and Rs730 million of 55 borrowers were waived off in 2009.Geo News approached NBP, ZTBL, BoP and Khyber Bank for comments but they did not respond despite several reminders.Salman Shah, a key member of Musharraf team from 2004 to 2008 said it was a move to revive Pakistan�s economy. �Waiver of maximum loans in Musharraf�s era was an effort to revive economy of the country,� he said.Economic expert, Sakib Sherani says, "there could be a number of reasons for the spike in loans write-offs during the Musharraf�s period.� Loans written off during one period usually represent bad lending practices of an earlier period, he explained.�Another reason is associated with the creation of PML-Q during 2002-03. Musharraf had massive loans of �King's party� leaders written off from financial institutions such as NBP, NDFC and others to make them eligible to contest elections and as political bribes," he said.strong>Top 15 Borrowers Beneficiaries</strong> As many as top borrowers got their loans waived off which were later counted over one billion rupees each or bit less than it.Siraj Steels Limited, owned by Muhammad Qasim and others, got waived off loans worth Rs1.5 billion in 2006.Spinning Machinery Company Pakistan got waived off loans worth Rs1.4 billion. Pakistan National Textile Mills, owned by Agha Tajamrnal Hussain and others got waived their loans worth Rs1.2 billion in 2008.Mohib Textile Mills (Pvt) Ltd got waived off loans worth Rs1.2 billion from NBP in 2002 where Asif Saigol, Arif Saigol and others pursued case of loans with the said bank.Saadl Cement Limited got waived off Rs1.3 billion from NBP where Zaheer Mustafa Jaleel, Farrukh Waqaruddin Junaidi and others were directors of the said company in 2004.Quality Steel Works Limited, owned by Major General (Retd) Farhat Ali Khan Burkigot waived off loans worth Rs962 million in 2005. Kohinoor Looms Limited owned by Mian Javed Saigol and others got waived off loans worth Rs946 million in 2005.The NBP administration waived off loans worth Rs901 million of Qurel Cassette Limited, owned by Major General (Retd) Abdul Qayyum in 2004.The NBP administration waived loans worth Rs748 million of Metropolitan Steel Corporation run by H.N.Akhtar, Aslam Gadit and others in 2003. Borrower Company �First Tawakkal Modaraba� got waived off Rs629 million in 2002 where Qadir Tawakkal and Refigure Tawakkal and others floated the request.TRANSTECH Pvt. Ltd, owned by Ather Maqbool and others got waived off its loans worth Rs403 million from ZTBL in 2005.Pakpattan Diaries Ltd, owned by Farooq Maneka, Gohar Maneka and others got its loans worth Rs468 million waived off from ZTBL in 2008.Multan Edible Oil, owned by Munawar Sindh, got waived off loans worth Rs355 million from ZTBL in 2008. Ravi Agri and Diary Products, owned by Mohammad Akram, Mst. Murad Begum, Muhammad Saleem and others got waived off loans worth Rs510 million from ZTBL in 2005.Debts of Foreign Companies Waived Off by NBP<br/>Yahoo Sang Yul Non No Com Ltd. also got waived off Rs73.646 loans from NBP in 1995. VIU Wing Canst. Com. Ltd. also got its loans worth 134.5 million waived off from NBP in 1997.General Nile Delta Bux Co also got its loans worth Rs51.9 million from NBP in 1991. Shrimati Ltd. owned by Guria Chandan Ramchand and others got waived off loans worth Rs34.052 and NBP also waived off Rs1.6 million of Sun Rise International owned by M. J. Mohandas and others.strong>Waiver by Provincial State-Owned Banks</strongThe Bank of Punjab (BoP) waived off Rs1.5 billion of 123 borrowers in last ten years.<br/>More than Rs403 million loans of 22 borrowers in 2015, Rs77 million loans of 10 borrowers in 2014, Rs89 million of 15 borrowers in 2013, Rs489 million of 12 individuals in 2012, Rs85 million of three borrowers in 2011, Rs6 million of four individuals in 2010, Rs8 million of seven borrowers in 2009 and Rs15 million of nine borrowers were written off by the BoP in 2008.Some Rs331 million of 19 borrowers in 2007, Rs30 million of 10 individuals in 2006 and Rs28 million of 12 borrowers were waived off by the BoP.Similarly, Bank of Khyber waived off Rs691 million of 58 borrowers in last eight years. It waived off Rs161 million of 11 borrowers in 2015, Rs77 million of 11 borrowers in 2014, Rs219 million of 12 borrowers in 2013, Rs87 million of nine borrowers in 2012, Rs111 million of three borrowers in 2011, Rs18 million of eight borrowers in 2010, Rs14 million of one borrower in 2009 and Rs4 million of three borrowers were waived off in 2008.The Sindh Bank did not waive off any loans since its establishment in 2010. �Sindh Bank has not waived off /written off any loans from the banks inception date that is April 24, 2011 till present,� said Saima Aziz, Vice President Product Development Sind Bank in Karachi.
 Oil prices edged up on Wednesday in anticipation of an OPEC-led crude production cut that is planned to be finalised by the end of the month, through trading was thin ahead of the U.S. Thanksgiving holiday on Thursday.</strongU.S. West Texas Intermediate (WTI) crude oil futures were trading at $46.13 at 0128 GMT, up 10 cents from their last settlement.International Brent crude oil futures were at $49.22 a barrel, up 10 cents. Reuters commodities analyst Wang Tao said that Brent could rise to $49.85 per barrel, a level marked by several technical resistance factors.Despite Wednesday's slight increases, analysts said that the market was currently unwilling to push crude prices to $50 a barrel or higher."The market seems unwilling to push oil towards $50 a barrel ahead of the Thanksgiving holiday tomorrow," said Jeffrey Halley, senior market analyst at OANDA brokerage in Singapore. "Their reticence is understandable given that longs (long positions) put on above that level have not ended well in recent times.""Tonight's (U.S.) EIA Crude Inventory numbers should provide a welcome, albeit temporary sideshow to the OPEC main event. Otherwise, we expect Asia to continue the sideways trading ranges," Halley said.The Energy Information Administration (EIA) is due to publish official U.S. crude oil and refined product inventory data later on Wednesday.Wednesday's lethargy came after oil prices rallied earlier this week. Traders anticipated the Organization of the Petroleum Exporting Countries (OPEC) would successfully implement a planned, coordinated production cut - to be discussed at a Nov. 30 meeting - in order to prop up prices.However, by late Tuesday analysts had become wary of the prospects for such a deal, as it remained unclear whether major OPEC-producers Iraq and Iran were willing to participate in a meaningful way."Cracks in the OPEC production cut agreement could see oil prices weaker in trading today," ANZ bank said in a note on Wednesday."A preliminary meeting ahead of next week's OPEC gathering failed to resolve the issues around Iran and Iraq's involvement in the production cut agreement," it said. "Despite this hiccup, we still expect the group to reach an agreement next week."
 Pakistan LNG Ltd has received strong interest in its tender to buy as many as 240 shipments of liquefied natural gas (LNG) from suppliers hungry to sell gas in an oversupplied market, a senior official told Reuters on Thursday.</strongThe emergence of Pakistan as a large-scale buyer is a welcome boost in the market for the supercooled gas as demand slows in traditional big buyers like Japan. Spot Asian LNG prices LNG-AS have fallen by two-thirds since the beginning of 2014 as new supplies have flooded the market.Launched earlier this month, the tender for a combination of mid- and long-term shipments "has been extremely well received," said Adnan Gilani, chief operating officer of state-owned Pakistan LNG."The response is beyond what we thought," the executive said, speaking in an interview on the sidelines of an LNG conference in Tokyo. Gilani didn't identify any of the bidding suppliers.The company launched its tender to purchase a combined 240 shipments of liquefied natural gas (LNG),The mid-term tender covers a period of five years and calls for 60 shipments, while the long-term tender is for 15 years and 180 cargoes, according to information presented in the tender documents released on the company's website earlier this month.More than 20 global oil and gas majors and traders attended a bidders conference held by Pakistan LNG two days ago, Gilani said, adding as many as 10 more expressed interest without attending. The deadline for bidding is Dec. 20, he said.Pakistan LNG will launch a new tender for 4.5 million tonnes of LNG "within a few months", and six months later it will seek bids for another 4.5 million tonnes, he said.By 2019 Pakistan, which can only meet two-thirds of its gas demand, expects to be importing about 23 million tonnes of LNG a year via five terminals to fuel power stations and vehicles."We are buying for our baseload needs," he said. "Price is the main variable."
 Pakistan Electronic Media Regulatory Authority (PEMRA) completed the auction of all three licences for Pakistan�s first Direct to Home Service (DTH) after 15 hours of bidding in the wee hours of Thursday.</strongThe highest bid was raised by Mag Entertainment for Rs 4.91 billion, followed by M/s. Shahzad Sky for Rs 4.90 billion and M/s. Star time for Rs 4.89 billion respectively.�A total of 11 companies � Orient Electronics Lahore, Mag Entertainment Lahore, Skyflix Islamabad, Smartimes Communications Islamabad, Sardar Builders Islamabad, Smart Sky Islamabad, Parus Media and Broadcast Islamabad, NayaTel Islamabad, Shahzad Sky, Islamabad, HB DTH Islamabad and IQ Communications Karachi � took part in the bidding process to secure the three licences.�All the three licences were sold for Rs 14.69 billion,� informed Chairman PEMRA Absar Alam, while speaking to the press.PEMRA Chairman congratulated the winning companies and said the initiative was going to be a game-changer for Pakistan�s electronic media industry.�To date, this is the biggest investment in Pakistan�s electronic media history,� he said and added as per the estimates and feasibility studies carried out by PEMRA experts, the overall investment would be $450 million ($150 million each) and could touch $750 million more in the next two years. These estimates did not include the bidding proceeds, he made it clear.The DTH service, he said, was a state-of-the art technology offering new dimensions of distribution system and a wide range of choice to consumers. �The current analogue distribution system is offering a maximum of 80 channels while the DTH would increase the capacity to around 120 and each local DTH licence holder is expected to have at least 500,000 subscribers,� said Absar Alam.Besides lucrative investment, the DTH regime would also make a significant contribution to job generation in the country leading to 15,000 jobs (5,000 by each company) i.e. new direct employment opportunities, he maintained.Absar Alam said the DTH service would not end the cable operators� business, but would compel them to invest in technology and their distribution systems.However, the media watchdog issued non-exclusive licences for 15 years to the successful bidders after the open outcry bidding.Pakistani DTH services, once launched, will counter the sale of illegal Indian DTH services in Pakistan, which incur a heavy loss to the national exchequer because of transfer of between $200 million to $350 million to India annually on account of subscription fee. Now the legal DTH services will give consumers a choice against the current monopoly of cable operators as well.Pakistan has nearly 25 million electronic media subscribers and between three to five million consumers use Indian DTH illegally. After issuance of licences, subscribers of Indian DTH would have to shift to the local network.Similarly, foreign channels will get landing rights to come under the local regime through a regulatory process and launching of new local satellite channels will be allowed.The DTH licence holders will have to start operations within the year or risk termination of licences. The bidders are required to deposit 15 percent of the bid money at the outset of the bidding as earnest money, followed by 50 percent of the bid money upfront. The remaining amount could be paid immediately or in three yearly instalments at a mark-up rate.Each DTH licence holder is required to pay an annual fee of Rs10 million and contribute two percent of their gross revenue after the first three years of operations.Licenses to the bid winners would be awarded after clearance from the interior ministry and law enforcement agencies.
 Pakistan has secured an additional $8.5 billion of investment from Beijing as part of the countries' joint energy, transport and infrastructure plan, Planning Minister Ahsan Iqbal said on Wednesday.</strongThat is on top of the $46-billion China-Pakistan Economic Corridor (CPEC) project, which focuses on road building and energy infrastructure to end chronic power shortages in Pakistan and to link China's landlocked north-west with the deep-water port Gwadar on the Arabian Sea.Some $4.5 billion of the additional investment will be spent on upgrading tracks and signaling on Pakistan's main railway line from Karachi to Peshawar and increase the speed on the line to 160 km per hour from the current 60-80 kph, Iqbal told Reuters in an interview.Another $4 billion will go toward an LNG terminal and transmission line, he added."This has now all been approved, so this is an additional $8.5 billion to the $46 billion we had already, so we are now close to $55 billion," Iqbal said.The International Monetary Fund said in June that repayments and profit repatriation from large-scale investments such as CPEC could add to Pakistan's medium- and long-term risks, predicting that the country's gross external financing needs would rise to $15.1 billion in 2018/2019 from $11.4 billion in the current financial year.But Iqbal said those risks would be countered by the economic boost the investment would give to industries such as steel, construction and engineering, pushing future annual growth to above 6 percent.In July the IMF upped its forecast for growth in Pakistan to 5 percent from 4.7 percent in the fiscal year to June 2017, citing China's investment plans."As the economy grows, our capacity to undertake the responsibilities of repayments also improves, what really matters is that all of that investment is going into productive sectors," Iqbal said.Under CPEC, a number of new economic zones will be created along the corridor. Pakistan hopes that some industry will relocate from China, due to cheaper wages and production costs, Iqbal said."Our preferred mode is joint ventures, because that will give a stake to both Pakistani and Chinese enterprises so now our government is actively promoting business-to-business links," he said.
 The State Bank of Pakistan announced its monetary policy on Saturday.</strongIt was decided that interest rate for the next two months will be maintained at 5.75 percent.Inflation rates have increased, the State Bank maintained, adding that inflation rate in October this year remained at 4.2 percent. Compared to October 2015, inflation rates showed a 1.6 percent increase.It is expected that inflation rates will increase after October.Crude oil prices will affect inflation rates, the State Bank said.
 Two persons were killed and two others went missing on Saturday as fire broke out at an oil tank filled with 1000-tonnes of methanol chemical at the Kemari Oil Terminal.</strongThe fire tenders from the Karachi Port Trust (KPT), Pakistan Navy and Karachi Metropolitan Corporation (KMC) were busy in dousing the fire.Foam and chemical is being used to extinguish the fire, officials added.The fire broke out at Pakistan State Oil depot, KPT fire chief said.
 The exports of fish and fish preparations from the country witnessed increase of 13.87 percent during the first four months of the current fiscal year compared to the corresponding period of last year.</strongThe exports of fish and fish preparations from the country were witnessed at 114.787 million in July October (2016 17) compared to the exports of 100.809 million during July October (2015 16) according to the latest data of Pakistan Bureau of Statistics (PBS).In terms of quantity the fish trade increased by 22.93 percent by growing from the exports of 37 443 metric tons last year to 45 188 metric tons during the current fiscal year.Meanwhile on year on year basis the exports of fish and fish preparations from the country witnessed increase of 4.34 percent in October 2016 when compared to the exports of October 2015. The seafood exports during October 2016 were recorded at 50.727 million compared to the exports of 35.683 million.On month on month basis the fish exports increased by 47.25 percent in October 2016 when compared to the exports of 34.456 million in September 2015. In terms of quantity the seafood exports from the country increased by 70.71 percent and 40.33 percent during October 2016 when compared to October 2015 and September 2016 respectively according to the data.It is pertinent to mention here that the overall food exports from the country witnessed decrease of 11.43 percent during first four months of the ongoing fiscal year.The food exports from the country were recorded at 980.668 million compared to the exports of 1107.226 million the data revealed.The overall merchandise exports from the country were recorded at 6.432 billion during the first four months of the current fiscal year compared to 6.865 billion during the corresponding period of last year showing a decrease of 6.31 percent.The imports into the country during the period witnessed increase of 8.51 percent by going up from 14.504 last year to 15.738 this year.Based on the figures the trade deficit during the period increased 21.82 percent by going up from the deficit of 7.639 billion last year to 9.306 billion this year.
 Key stock indexes on Wall Street swept to record intraday and closing highs on Black Friday thanks to gains in consumer staple and technology shares, while European stocks climbed and a stabilization in U.S. Treasury yields promoted investors to sell the dollar.</strongThe Dow, S&amp;P 500 and Nasdaq indexes, as well as the small cap Russell 2000 , hit record closing and intraday highs in thin trading, with the U.S. stock market closing at 1:00 p.m. ET (1700 GMT). For the week, the Dow and Nasdaq gained 1.5 percent, while the S&amp;P 500 rose 1.4 percent.The S&amp;P 500 consumer staples index's 0.8 percent gain boosted shares on Black Friday, which traditionally kicks off the U.S. holiday shopping season.European stocks notched a third straight week of gains, even as a tumble in oil prices dragged commodities shares lower. Uncertainty over whether OPEC will agree to cut production at the group's meeting next week weighed on crude prices.Expectations that U.S. President-elect Donald Trump's promises of tax cuts, higher infrastructure spending and reduced regulation would benefit certain industries, including banking, industrials and healthcare, have underpinned multiple recent all-time highs in U.S. shares."While many stocks have risen quite briskly, investors are looking for some forgotten names in the rally," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.MSCI's all-country world equity index was last up 1.86 points, or 0.45 percent, at 414.99.The Dow Jones industrial average closed up 68.96 points, or 0.36 percent, at 19,152.14. The S&amp;P 500 ended up 8.63 points, or 0.39 percent, at 2,213.35. The Nasdaq Composite closed up 18.24 points, or 0.34 percent, at 5,398.92.Europe's broad FTSEurofirst 300 index closed up 0.29 percent at 1,351.66.While positive for stocks, Trump's surprise victory in the Nov. 8 election has sent U.S. Treasury yields higher as investors bet his pro-growth and inflationary policies will erode the value of U.S. bonds.U.S. Treasuries were last steady after two-year yields hit a 6-1/2-year high of 1.17 percent overnight as investors evaluated how much further the selloff had to run."There are a number of people that want to buy in but also don�t want to get whipped by the next 25-to-30 basis point selloff," said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York.The dollar index, which measures the greenback against a basket of six major currencies, was last down 0.3 percent at 101.430 as investors took advantage of the pullback in U.S. bond yields to lock in gains after the dollar hit a nearly 14-year peak on Thursday.Despite Friday's steep losses, U.S. and benchmark Brent crude oil prices eked out a second straight week of gains. Brent crude LCOc1 settled down $1.76, or 3.59 percent, at $47.24 a barrel. U.S. crude CLc1 settled down $1.90, or 3.96 percent, at $46.06 a barrel.Gold prices tumbled to a 9-1/2 month low of $1,171.2100 an ounce, partly on expectations of a U.S. interest rate increase by the Federal Reserve next month.
 OPEC members will seek to give oil prices a boost in Vienna on Wednesday by nailing down their first output cut in eight years, although a deal is far from certain.</strongFailure to get an accord could send oil prices tumbling and reignite debate about the purpose of the 56-year-old Organization of the Petroleum Exporting Countries.Not getting a deal "could be the end of OPEC", energy analyst Alexandre Andlauer told AFP. Pessimism about prospects for an agreement sent oil prices lower on Friday.In September the cartel agreed in principle to lower production to 32.5-33.0 million barrels per day (bpd), meaning a cut of between 600,000 and 1.1 million bpd.This, OPEC�s 14 members hope, will reduce the mammoth global supply glut and so increase the market price of oil from its current painful level of below $50 a barrel.It also marks a reversal of OPEC kingpin Saudi Arabia�s two-year-old strategy of flooding the market to squeeze out rivals, in particular US shale oil producers.Saudi Energy Minister Khalid al-Falih, who was due in Vienna for the talks with other OPEC ministers, said this month an agreement was "imperative".strong>- Devil in the detail -</strongBut it remains to be agreed what size cuts, if any, each of OPEC�s members will make, particularly Iraq and Iran, the cartel�s next-biggest producers after Riyadh.Strife-torn Libya on Sunday ruled itself out of any cuts, arguing that it was in "such a dangerous economic situation" that there was no way it could take part.Iraq has said it will cut output but that it is short of money needed to fight Islamic State extremists. It also disputes with OPEC the level of its current output.Iran, newly free of export restrictions since last year�s nuclear deal, says it won�t cut production until it has reached pre-sanctions levels.Adding to the difficulties is the fierce rivalry between Shia Iran and Sunni Saudi Arabia, engaged in a proxy war in Yemen and backing different sides in Syria.strong>- Russia on board? -</strongAs the meeting has approached, OPEC members turned their sights on non-cartel producers, particularly Russia, for a pledge they would also tighten the taps.Securing a commitment from non-OPEC nations is important because the cartel only produces about a third of the world�s oil, meaning its ability to influence prices is limited.Algeria�s oil minister said in Iran this weekend that OPEC is prepared to cut production by 1.1 million bpd if non-members reduce by 600,000 bpd, local media reported.President Vladimir Putin said last week Russia was ready to "freeze production", but stopped short of promising a cut.Russia, its finances hit by low oil prices and Western sanctions, is pumping some 11 million bpd, more even than Saudi Arabia and at levels not seen since Soviet days.In a sign of ongoing tensions, Saudi Arabia pulled out of talks due Monday with non-OPEC producers including Russia ahead of the Vienna meeting, Bloomberg News reported.The news agency said Sunday that Algeria and Venezuela�s oil ministers would travel to Moscow on Monday to try to get Russia on board.strong>- Prices at the pump -</strongIf OPEC does manage to get a deal and oil prices rise -- though the increase may be modest -- then this will hit the wallets of billions of consumers worldwide.But higher oil prices might actually help the global economy, according to research by Goldman Sachs published by Bloomberg.This is because richer oil producers would then pump more liquidity into the global financial system.Low oil prices have blown a massive hole in producers� finances in recent years, hurting not just more vulnerable OPEC members like Venezuela and Nigeria but even the Gulf states.Saudi Arabia, once seen as fabulously wealthy, is projecting a budget deficit of $87 billion in 2016. It has slashed spending and salaries and owes private firms billions of dollars.Two years of low prices have also hit investment in oil facilities, raising the prospect of supply problems in the medium term, experts say.
 Oil prices fell early on Tuesday on doubts that producer cartel OPEC will be able to hammer out a meaningful output cut during a meeting on Wednesday to rein in a global supply overhang and prop up prices.</strongInternational Brent crude oil futures LCOc1 were trading at $48.10 per barrel at 0102 GMT, down 14 cents, or 0.3 percent, from their last close.U.S. West Texas Intermediate crude futures CLc1 were down 19 cents, or 0.4 percent, at $46.89 a barrel.The Organization of the Petroleum Exporting Countries (OPEC) is meeting officially in Vienna on Wednesday to discuss a planned production cut in an effort to curb overproduction that has dogged markets and more than halved prices since 2014.With a high degree of uncertainty going into the last 24 hours before the meeting, oil price volatility is expected to be high."We expect intra-day volatility to ratchet higher again into tomorrow, with price action being entirely headline driven," said Jeffrey Halley, senior market analyst at OANDA brokerage in Singapore.There remains disagreement among OPEC-members over which producers should cut by how much, and a plan to bring non-OPEC oil giant Russia to participate has so far also failed.
 Federal Government has increased the prices of petrol and diesel from December 1.</strongFederal finance minister Ishaq Dar announced that prices of petrol and diesel have been raised by Rs2.00 and Rs2.70, respectively with effect from 12.00 (midnight) on December 1, 2016.Dar said that initially OGRA had suggested a raise of Rs6.24 in petrol price as no increase has been made in the prices of petroleum products for the last seven months. �
 A Paris restaurant run by chef Guy Savoy was named the best in the world Wednesday -- according to the French-based guides aggregator La Liste -- but Japanese restaurants came out on top overall.Double Emmy-award-winning US television chef Eric Ripert came joint second for his New York fish restaurant Le Bernardin, sharing the honour with the minuscule Tokyo restaurant, Kyo Aji.Kyo Aji helped ensure that Japan triumphed again in the country rankings, with 116 of the top-rated 1,000 restaurants, three more than France, with Chinese chefs coming third. But restaurants in Italy came out best on value for money.Savoy�s restaurant in la Monnaie, the old French national mint on the Left Bank of the River Seine, is famous for its artichoke soup with black truffle and filo pastry mushroom brioche and "cold steamed" blue lobster. His 18-course "Innovations and Inspirations" menu costs 490 euros ($520) without wine.It was the top-rated French restaurant last year coming in fourth place in the La Liste, which was set up as a "more scientific and reliable" rival to the British-based 50 Best Restaurants ranking.Savoy -- who trained the volcanic British chef Gordon Ramsay and remains his mentor -- controversially did not make the 50 Best this year. Nor did Kenichiro Nishi of Kyo Aji, whom La Liste called "the undisputed master of kaiseki", the traditional multi-course Japanese dinner.French-born Ripert, 51, a Buddhist who picked up his Emmys for his PBS show "Avec Eric", already holds the maximum three Michelin stars.La Liste bills itself as a "guide of the guides", pulling together reviews from almost 400 guide books, newspapers and online sites from TripAdvisor to the New York Times and the prestigious Michelin rankings. But tragedy struck the first winner Franco-Swiss chef Benoit Violier, who killed himself a month after winning for the Hotel de Ville at Crissier near Lausanne in Switzerland.Savoy, 63, a three-Michelin-starred chef, comes from humble origins. His father was a municipal gardener in the small town of Bourgoin-Jailleu near Lyon in eastern France where his mother ran a fast-food "buvette".He later trained as a chocolate maker before being taken on as an apprentice by the legendary Troisgros brothers for their restaurant in nearby Roanne.La Liste�s founder Philippe Faure, the head of the French tourist board, has accused the 50 Best of consistently "denigrating" French restaurants in its listing.While 50 Best has repeatedly denied the charge, no French restaurants have made its top 10 for the last few years.Faure said his listing was compiled impartially from a rigorous mathematical analysis of hundreds of guides and thousands of reviews.La Liste has now also launched a smartphone application in six languages aimed at international travellers for its 1,000 top-rated restaurants in the world, plus the 10,000 eateries which its analysis found to be the best value.�
 Asian stocks edged higher on Wednesday reflecting upbeat U.S. growth news while oil steadied after a sharp drop overnight as OPEC struggled to agree on a glut-draining production cut.</strongMSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trades. It is poised to post a second consecutive monthly loss.Early action in Asian stocks was just as guarded with Australia down 0.16 percent , the Nikkei flat and South Korea .KS11 up 0.2 percent.In currency markets, the dollar consolidated recent gains against a trade-weighted basket of its peers with investors looking to buy on dips after strong data.The U.S. economy grew faster than initially thought in the third quarter, notching its best performance in two years.The relatively upbeat data pushed major U.S. stock indices higher with major benchmarks closing between 0.2 to 0.6 percent up. Stock futures SPC1 edged higher in Asia.Oil slumped by roughly 4 percent on Tuesday before bouncing somewhat as most analysts concluded the Organization of Petroleum Exporting Countries would cobble together a deal at its meeting in Vienna on Wednesday to cut production to some extent. The meeting starts at 1000 GMT (5.00 a.m. ET).Brent futures LCOc1 were flat around $46.38 per barrel while U.S. crude CLc1 gained 0.3 percent to $45.39 per barrel.
 Pakistan and China embarked on their ambitious and effective project to link China's southwestern province Yunnan with Pakistan's largest port in Karachi, on Wednesday. </strongAccording to details, the first �cargo train from Kunming, capital of Yunnan province, left with over 500 tonnes of commodities for Port Qasim in Karachi on Wednesday. This marked the opening of the new route between both the countries, who are ambitiously seeking trade partnerships with each other which could benefit them immensely. These goods are then transported to all parts of the world from the Karachi port.�According to Chinese experts, the new route will prove cost-effective in the sense that it would reduce transportation costs by as much as fifty-percent compared with past services. Experts also stated that it would be beneficial for the local firms and traders, who could not expand more and cater to the demands of international clients. They further stated that goods could now reach clients efficiently and more effectively as well as bring prominence to Yunnan.� dir="ltr" lang="en">�
 Oil eased in Asian trade Thursday, taking a breather after soaring nearly 10 percent on the wings of OPEC�s decision to carry out its first output cut in eight years.</strongThe Organization of the Petroleum Exporting Countries at a meeting in Vienna Wednesday agreed on specific targets to enact a preliminary deal struck in September designed to ease a global crude supply glut and boost prices.Many analysts had expected the producers� cartel to fail to reach a deal as major players like Iran, Iraq and Saudi Arabia remained divided ahead of the meeting.At around 0150 GMT, US benchmark West Texas Intermediate for January delivery was down 28 cents at $49.16 and Brent crude for February dipped 18 cents at $51.66."I think the market in Asia is just catching its breath after last night�s moves," said Jeffrey Halley, a senior market trader at OANDA."I would expect Asia to trade in a sideways range now until Europe gets in the early afternoon," he told AFP.In Vienna, the 14-member OPEC agreed to lower its monthly output by 1.2 million barrels per day (bpd) to 32.5 million bpd from January 1.Qatar�s Energy Minister Mohammed Bin Saleh Al-Sada said non-member Russia committed to reducing its output by 300,000 bpd, half of a hoped-for 600,000 bpd reduction from outside the organisation."Cuts have been shared across all members, including the recalcitrant Iran and Iraq," Halley said.Prices had fallen to near 13-year lows of below $30 a barrel in February from peaks of more than $100 in June 2014 largely due to an oversupplied market outpacing demand.
 The OPEC oil cartel defied expectations Wednesday and nailed down its first joint output cut since 2008 after tough talks in Vienna, sending oil prices soaring.</strongAt 1622 GMT Brent North Sea crude for January delivery was up $3.77 at $50.15, the first time it has risen above $50 in a month. West Texas Intermediate was up $3.98 at $49.21.The accord announced by the Organization of the Petroleum Exporting Countries is aimed at reducing a global supply glut that has kept prices painfully low.It represents a dramatic reversal from OPEC�s Saudi-led strategy, introduced in 2014, of flooding the market to pressure rivals, in particular US shale oil producers.The cartel will lower its monthly output by 1.2 million barrels per day (bpd) to 32.5 million bpd from January 1, Qatar�s energy minister and president of the OPEC conference said."This is a major step forward and we think this is a historic agreement, which will definitely help rebalance the market and reduce the stock overhang," Mohammed Bin Saleh Al-Sada told a news conference in Vienna.He also said that the deal will help lift global inflation accelerate to a "more healthy rate," including in the United States.It finalises a preliminary deal struck in September in Algeria when OPEC agreed to cut production but left the details to clear up later.Negotiations got bogged down in a game of poker between OPEC�s three biggest producers, Saudi Arabia, Iraq and Iran, on who would do the heavy lifting.Iraq had said it did not want to pump less crude because it was short of money to fight Daesh extremists. It also disputed how much it actually produced.Iran has only been able to freely to export oil since last year�s nuclear deal came into force in January, and wants to return to pre-sanctions output levels.Fawad Razaqzada, a market analyst at Forex.com, said before OPEC�s announcement that Iran was "playing a clever game" against its arch rival.But Saudi Arabia also played hard-ball, saying it was prepared to leave the Austrian capital without a deal.Energy Minister Khaled al-Falih had said recovering demand will boost prices next year -- cut or no cut.Even though expectations were therefore low, failure to get a deal would have sent oil prices tumbling, perhaps as low as $30 per barrel, analysts had said.Also it would have reignited debate about the very purpose of OPEC, 56 years after its creation.
 US President-elect Donald Trump on Thursday warned American firms wanting to relocate abroad that they will face punishment, as he announced a deal with air conditioning manufacturer Carrier to keep jobs in the country.</strong"Companies are not going to leave the United States any more without consequences. Not going to happen," Trump told workers at the Carrier plant in Indianapolis in his first major public remarks since winning the White House."They can leave from state to state, and negotiate deals with different states, but leaving the country will be very, very difficult," Trump added.During the presidential campaign, the Republican billionaire threatened to slap tariffs on firms that decamped for places like Mexico or Asia where labor costs are cheaper. It became a repeated refrain of his victorious campaign.Trump specifically singled out Carrier, a brand of United Technologies Corporation, saying he had been encouraging the company not to shift thousands of jobs to Mexico.If they did, he said his administration would impose major tariffs on Carrier products as they made their way back into the United States."But I called Greg (Hayes, UTC�s chairman) and I said it�s really important, we have to do something because you have a lot of people leaving and you have to understand we can�t allow this to happen anymore with our country," Trump said as he recalled an early exchange with the firm�s top executive.Under a deal hammered out with the help of Vice President-elect Mike Pence, who is Indiana�s outgoing governor, the state offered Carrier $7 million in incentives over 10 years, "contingent upon factors including employment, job retention and capital investment," the company said in a statement.Pence said the deal will keep about 1,100 jobs in "the heart of the heartland.""This is a great day for Indiana and it�s a great day for working people all across the United States of America," Pence said.The deal is seen as an extraordinary industry intervention by a president-elect.His supporters have described it as the first tangible part of Trump�s jobs creation plan.But liberal Senator Bernie Sanders, who challenged Hillary Clinton for the 2016 Democratic presidential nomination, said the deal should worry Americans.Carrier "took Trump hostage and won," Sanders said in an op-ed he wrote for The Washington Post.Trump "endangered" other US jobs, Sanders said, "because he has signalled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives."
 With this week�s deal to cut output, OPEC is creating incentives for American shale producers to boost output just as the incoming Trump administration vows measures to promote US oil development.</strongThe deal, announced Wednesday by the Organization of the Petroleum Exporting Countries, will cut the cartel�s output by 1.2 million barrels per day (bpd).Oil prices shot up on the announcement, which was more muscular than many analysts expected, boosting prices by nearly 10 percent Wednesday and lifting the US benchmark contract to above than $50 a barrel Thursday.OPEC�s planned production cuts are nearly the same amount US producers trimmed in the wake of a two-year skid in prices.US output has fallen to 8.5 million a day, down from a peak of 9.6 million barrels a day in April 2015 following cutbacks in West Texas and other key shale-producing regions.Some believe the OPEC deal to boost prices could sow the seeds of its undoing as more US companies boost output in response, which in turn would push prices lower.US "production could surprise to the upside," Morgan Stanley said in a note Thursday. "Surprisingly, when asked about this possibility during the press conference it appeared the oil ministers were unconcerned."Morgan Stanley predicted it would take six to nine months for the price increase to prompt a supply response in the US, around the same time OPEC producers also are expected to ramp up.- �America First� and energy -The OPEC meeting this week also came amid a sea change in US politics as the world�s biggest economy transitions to President-elect Donald Trump, who vowed in the campaign to free the petroleum industry from burdensome restrictions.During the campaign, Trump promised to open new US lands to petroleum production, approve new pipelines, encourage offshore development and cut regulations on the industry.That cocktail of domestic policies "could depress oil prices markedly given Trump�s promise," Oxford Economics said in a research note.Harold Hamm, the chief executive of shale producer Continental Resources who advised Trump on energy during the campaign, acknowledged the possibility the OPEC deal could pose problems for US producers if they restore too much production."We have the ability to oversupply the market," Hamm told CNBC on Thursday. "The key is not to."Hamm said limited US refining capacity has pinched the industry, in part because foreign oil companies from Saudi Arabia and Venezuela own refineries in the US and are biased towards imported crude. But it is not clear if Trump will take on foreign ownership of refineries.
 Indonesia has doubled Pakistan�s Kinnow import season from January to April after review of Preferential Trade Agreement (FTA) between the two countries.</strongInitially, import of Kinnow from Pakistan was restricted to months of February and March only which has now been doubled from January to April.According to the sources in the commerce ministry, official notification to this effect has been issued by the Indonesian government.Owing to the success of the economic diplomacy of the government, the popular demand of the Kinnow exporters has been met by enhancing the access to Indonesian market.The Kinnow, a sub form of Oranges is smaller in size but tastes relatively similar.Kinnow is a cross between the King and Willow leaf species of citrus fruits created after successful experimentation at the Citrus Research Centre University of California USA in 1951. Both of these parent breeds have Indo-China origins.The soil and climatic conditions in Pakistan have given the Kinnow a unique flavor, which distinguishes it from other comparable mandarins grown in the world.Kinnow is one of the best varieties of fresh mandarins. Primarily, it is in close relation with tangerine similar in taste.
 Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated.</strongBrent crude futures were trading at $53.89 per barrel at 0132 GMT, down 57 cents, or over 1 percent, from their last close.West Texas Intermediate (WTI) crude futures were at $51.49 a barrel, down 52 cents, or 1 percent.Traders said price falls were triggered by rising production just after last week's accord between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC member Russia to cut output in 2017. The cuts aim to rein in a supply glut that has weighed on markets for over two years.Meanwhile U.S. energy firms extended drilling for new oil production into a seventh month last week, data from energy services firm Baker Hughes showed on Friday."The U.S. oil rig count continued its rally this week, up by 3 rigs...Since its trough on May 27, 2016, producers have added 161 oil rigs (+51 percent) in the U.S.," Goldman Sachs said.Overall - accounting for the recent rise in oil drilling, but also for cutbacks earlier this year on low prices - Goldman said "year-on-year production will decline by 620,000 barrels per day (bpd) in 2016 and increase by 55,000 bpd in 2017".With U.S. production set to edge up, there are also gnawing concerns that the cuts announced last week by OPEC and Russia might not be as deep as initially anticipated. The planned reductions brought the sharpest weekly crude price rises in years.Russia on Friday reported average daily oil production of 11.21 million bpd for November - its highest in almost 30 years.And while Moscow has agreed to cut its output by 300,000 bpd in early 2017, it said it would do so against November levels. That means that even after a reduction, its output would remain higher than it was at the peak of the oil glut in the first half of 2016.Jeffrey Halley of brokerage OANDA in Singapore said oil traders were "nervous (as) Russia's output has hit record levels, meaning their part of the production cut takes them back to what they were producing only quite recently".In the Middle East, where the deepest OPEC production cuts are expected, there are also signs that production will rise before it gets cut.Saudi Arabia and Kuwait are expected to agree this month to resume oil production, with a potential of 300,000 barrels in daily output, from jointly operated oilfields which were shut down between 2014 and 2015 for environmental and technical difficulties.
 Turkish President Recep Tayyip Erdogan said his country was moving towards allowing trade with Russia, China and Iran to be conducted in local currencies, as he continues his efforts to strengthen the falling lira.</strong"If we buy something from them, we will use their money, if they buy something from us, they will use our currency," he said, ahead of a trip by Turkish Prime Minister Binali Yildirim to Russia for meetings on Tuesday.Erdogan -- who previously said discussions were underway with Moscow, Beijing and Tehran on the issue -- added that instructions related to this proposal had been given to the central bank.Erdogan repeated a call for Turks to convert the euros, dollars and other foreign currency "under their pillows" into Turkish lira during a speech in the central city of Kayseri."Our Turkish lira is blessed," he told a cheering, flag-waving crowd after opening a museum in the city named after his predecessor and long-time friend Abdullah Gul.Ankara hopes such demands will help the lira win back the losses it has suffered over the past few months since a failed coup in July when a rogue military faction tried to oust Erdogan from power.In November alone, the lira haemorrhaged more than 10 percent while it continues to reach record lows against a stronger US dollar.The lira on Friday reached a record low of 3.58 to the dollar before making up some of the loss.
 Taxi-hailing service Careem introduced women drivers in Pakistan on Wednesday, a rare initiative in a country where women account for only 22 percent of the workforce.</strongCareem has a larger market share than rival Uber in most of the 32 cities in the Middle East, North Africa and Pakistan region in which it operates.Now it has a new idea for Pakistan: taxis driven by women, who will pick up both male and female customers.The start-up operates in the Pakistani cities of Lahore, Islamabad and Karachi."We want to give women the same opportunities and the same chance that men have of leveraging our platform to generate healthy income," said Careem's Pakistan General Manager Ahmed Usman.Usman said seven women drivers had qualified to join the fleet but applications were open and the company hoped more would apply.Zahra Ali, 30, heard about Careem from a friend and thought it would be an "honorable" way to support her two children, who she is raising alone since the death of her husband two years ago.She had just enough money to buy a car and got her driving license this year.When Ali applied to be a Careem driver a few months ago, she was told there was no provision for women drivers.Then Careem called back with good news."The only skill I know is driving," Ali told Reuters at her home in the city of Lahore. "Now I can raise my children honorably, I can give my children a good education."strong>"WOMEN ARE NOT WEAK"</strongLaunched in Dubai in 2012, Careem has a global force of 90,000-plus drivers and more than four million users registered through its mobile app.In the sweltering southern city of Karachi, among Careem's largest markets, demand for secure taxis is particularly strong among women, Usman said."If an organization is offering security for women ... naturally that is very important," said driver Aasia Abdul Aziz, 46, when asked why she chose to work for Careen."Especially in a city like Karachi where no work can be done in the absence of proper security."Aziz said she had worked long hours at a beauty salon for most of her life and now that her two daughters were settled in jobs, she wanted work that allowed her flexibility.When asked about the challenges of being a woman driver in Pakistan, Aziz said:"When people start accepting something, when our public realize that women can do a certain job and are doing it in a commendable manner, then I think it will not be so difficult."Domestic abuse, other violence and economic discrimination make Pakistan the world's third-most-dangerous country for women, a 2011 Thomson Reuters Foundation expert poll showed.About 500 women are killed in Pakistan every year at the hands of relatives over perceived damage to family "honor" that can involve eloping, fraternizing with men or any other infraction against conservative values."One must face problems bravely," Ali said in Lahore. "Women are not weak; it is our society which portrays them as weak. One cannot move forward with fear."
 The head of Japan's SoftBank Group Corp, which in October set up a $100 billion fund for technology investments, said on Tuesday he would invest $50 billion in U.S. businesses, a move President-elect Donald Trump claimed was a direct result of his election win.</strongThe investment, which could create 50,000 new U.S. jobs, revived speculation on Wall Street that U.S. telecommunications giant Sprint Corp, 82-percent-owned by SoftBank, might rekindle merger talks with T-Mobile US Inc that died under pressure from U.S. regulators.Trump's moves since the election to engage with individual companies, while turning his back on broader, years-in-the-works trade deals, show that the President-elect is leaning on the deal-making skills he honed in the boardroom. Trump campaigned against the overregulation of business and is expected to be more open to mergers than President Barack Obama.The investment announced Tuesday would come from the $100 billion investment fund SoftBank Chief Executive Masayoshi Son is setting up with Saudi Arabia�s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.Trump made the announcement in the lobby of Trump Tower in Manhattan where he met with the head of SoftBank, a $68 billion telecommunications and tech investment behemoth."Ladies and gentlemen, this is Masa from SoftBank of Japan, and he�s just agreed to invest $50 billion in the United States and 50,000 jobs," Trump said."He would never do this had we (Trump) not won the election!" Trump later Tweeted.Prior to the election, SoftBank said Saudi Arabia's Public Investment Fund (PIF) would be the lead partner in the fund and could invest up to $45 billion over the next five years. SoftBank expects to put in at least $25 billion. Several other large, unnamed investors are in talks on their participation and could bring the total size of the new fund up to $100 billion, SoftBank said.Son, who wore a red tie and red sweater under his suit jacket, told reporters his company would create jobs by investing in startup companies in the United States."We are going to invest $50 billion into the U.S. and commit to create 50,000 new jobs," Son said, adding that he saw a lot of "deregulation" under a Trump administration.Trump and Son did not give a timeline for the investment. Trump's four-year term will begin after his Jan. 20 inauguration.U.S.-listed shares of SoftBank gained 3 percent to $30.99.Son had hoped to merge Sprint with T-Mobile US to take on U.S. market leaders AT&amp;T Inc and Verizon Communications Inc.Shares of Sprint briefly reached their highest level in 2-1/2 years, soon after Son's comments. They closed up 1.5 percent to $8.17 in heavy trading, ending well below session highs. Shares of T-Mobile US were up 1.8 percent at $55.99.It was not immediately clear how much of SoftBank's investment had been disclosed before. Softbank said on Nov. 7, the day before the U.S. election, it planned to make future large-scale investments via the $100 billion tech fund, rather than on its own, to avoid growing already-bloated debt.Whether or not Trump's election led to SoftBank's planned investment, the billionaire's victory has been a boon to stock investors. The Dow Jones industrial average closed at another record level on Tuesday, its 11th new high since the Nov. 8 vote.Should the SoftBank fund grow as large as $100 billion, it would be one of the world's largest private equity investors and a potential kingpin in the technology sector.SoftBank has also been stepping up investment in new areas. It agreed to buy U.K. chip design firm Arm Holdings in July in Japan's largest ever outbound deal.
 South Korean carmaker Kia Motor Co (000270.KS) will start assembling cars in Pakistan, according to a local partner that is planning to invest 12 billion rupees ($115 million) to set up a plant and manufacture the Kia vehicles.</strongKarachi-listed Lucky Cement (LUKC.KA), which is part of the vast conglomerate Yunus Brothers Group, said in a statement on Thursday it planned to set up a new company to start "manufacturing, assembling" Kia vehicles.It was not clear how much capital Kia itself would invest in the Pakistani venture. Representatives for the South Korean company could not immediately be reached for comment.Kia cars had been assembled by Pakistan in the past but disappointing sales led to a halt in manufacturing.The new venture will also market and sell, besides import and export of, "all types of Kia vehicles, parts and accessories," Lucky Cement told the Pakistan Stock Exchange in a statement.Kia's re-entry into Pakistan will boost government efforts to shake up the Japanese-dominated car market and loosen the grip of Toyota (7203.T), Honda (7267.T) and Suzuki (7269.T), who assemble cars in Pakistan with local partners.Last month, French carmaker Renault agreed to invest in a new factory in Pakistan and official say they are talking to several other carmakers.The government believes increased competition should bring down exceptionally high car prices in Pakistan, and in March it introduced a new auto policy favoring new entrants into the market by offering generous import duties.The incentives have angered existing market players, some of whom have said publicly they should get similar terms.Pakistan, with a population of nearly 200 million people, is a potentially huge market, but just 180,000 cars were sold in the 2014/2015 fiscal year. That compares with more than 2 million passenger vehicles a year in neighboring India.
 Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.</strongAustralian stocks led the way with a rise of 0.9 in early trade, while Nikkei futures NIYc1 pointed to an opening gain of around 1 percent.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent to a one-month top.The euro seemed little troubled after Moody's changed its outlook on Italy to negative, warning it may downgrade the credit rating if the country's deteriorating economic and debt outlook was not reversed.The common currency took the news relatively well, easing just a touch to $1.0756, from a top of $1.7068.Markets have been surprisingly buoyant in the wake of Italy's "No" vote last weekend, in part on hopes for continued support from the ECB which may widen the type of bonds it buys.Also helping sentiment were reports Italy would step in to rescue troubled bank Monte dei Paschi, which lifted its shares by 9 percent.All of which helped drive down yields on European peripheral debt, with buying spilling over to German bunds and U.S. Treasuries. Yields on the 30-year Treasury fell by almost 6 basis points in the biggest daily decline since later August.That drop nudged the dollar down a touch to 113.63 yen while the dollar index dipped 0.3 percent.
 Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC's output limits on Saturday in the first such move since 2001.</strongSaudi Arabia told the customers about lower supplies in line with the output reduction agreed by the Organization of the Petroleum Exporting Countries last week, according to a Gulf oil industry source familiar with Saudi oil policy."We told our customers of the allocations and the compliance with allocations (for the cuts) for Saudi Arabia is 100 percent," the source said.He said cuts to Asian refiners would be lower than those to Europe, the United States and to major oil companies."We are cutting more in the U.S. because the inventories ... are very high," the source said.OPEC will meet non-OPEC producing countries in Vienna on Saturday, hoping non-OPEC will commit to cutting 600,000 barrels per day after its own members agreed to cut 1.2 million bpd last week.OPEC sources said nine non-OPEC countries were set to join the meeting: Azerbaijan, Kazakhstan, Oman, Mexico, Russia, Sudan, South Sudan, Bahrain and Malaysia. Bolivia may also attend the talks, according to an OPEC source."There's a much greater presence than we expected ... and I think countries are coming for a reason," Ecuadorian foreign minister Guillaume Long who is representing the OPEC member at the meeting told Reuters.So far only Russia and Oman have pledged cuts, with one OPEC source saying Mexico could also contribute as much as 150,000 bpd.In contrast, Kazakhstan plans to boost output in 2017 as it launches the long-delayed Kashagan project.Russia is expected to shoulder half of the non-OPEC cut, but on Friday sources in Moscow signaled there were snags that needed to be addressed before a deal could be reached, including full compliance with cuts by all parties involved.However, Russia's energy minister told reporters upon arriving in Vienna he expected non-OPEC oil producers to fully contribute to production cuts agreed earlier with OPEC."I look with optimism at tomorrow's event," said Alexander Novak. "I think that we will agree and we must agree."
 U.S. President-elect Donald Trump on Friday said that China and other countries often devalue their currencies as the U.S. economy improves, vowing to combat currency manipulation and the dumping of foreign products into U.S. markets below cost.</strong"We'll renegotiate our trade deals, stop the product dumping and the currency manipulation which is a disaster for our country," Trump said at a rally in Baton Rouge, Louisiana."Every time we get going, China and others, they just knock the hell out of the value of their currency and we have to go back and back, and it just doesn't work, folks."
 Oil prices shot up by 4 percent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market.</strongBrent crude futures, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, its highest level since July 2015.U.S. West Texas Intermediate (WTI) crude futures also hit a July 2015 high of $54.51 a barrel.Brent and WTI prices eased to $56.55 and $53.70 respectively by 0043 GMT (7:43 p.m. ET), but were both still up more than 4 percent from their last settlement.With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to play ball, the market's focus will now switch to compliance of the agreement.AB Bernstein said that the agreed deal "amounts to an aggregate supply cut of 1.76 million barrels per day (bpd) from 24 countries which currently produce 52.6 million bpd or 54 percent of world oil supply."Bernstein said that "some of the non-OPEC supply cuts will come from natural decline, but most will come from self-imposed cuts.ANZ bank said on Monday that Saudi Aramco, Saudi Arabia's state-controlled oil company, had "started informing customers that their allocations would be reduced in January 2017, in line with its commitment to the recent OPEC production cut agreement."OPEC has said it will slash output by 1.2 million bpd from Jan. 1, with top exporter Saudi Arabia cutting around 486,000 bpd in a bid to end overproduction that has dogged markets for two years.On Saturday, producers from outside OPEC agreed to reduce output by 558,000 bpd, short of the initial target of 600,000 bpd but still the largest contribution by non-OPEC ever.Of that, Russia said it would gradually cut 300,000 bpd, adding that by the end of March it would be producing 200,000 bpd less than its October 2016 level of 11.247 million bpd.Russian output would fall to 10.947 million bpd after six months, it said."Once cuts are implemented at the start of 2017, oil markets will shift from surplus into deficit. Given the cuts in production announced by OPEC, we expect that markets will move into a 0.8 million bpd deficit in 1H17," AB Bernstein said.
 Saudi Arabia pumped record-high amounts of oil in November, amid talks over a global deal to cut production, defying market expectations of lower output on slower domestic demand and refinery maintenance.</strongThe world's top oil exporter told the Organization of the Petroleum Exporting Countries it pumped 10.72 million barrels per day last month, an OPEC source said, up from 10.625 million bpd in October.In July, the kingdom's production was 10.67 million bpd, the previous high.Iraq said its November output was 4.8 million bpd, up from 4.776 million bpd in October, another OPEC source said, as oil exports reached a record high of 4.051 million bpd.Gulf OPEC member Kuwait reported output at 2.9 million bpd in November, lower than its 3 million bpd in October, while the United Arab Emirates kept its output virtually steady at 3.195 million bpd, according to official figures reported to OPEC.Saudi Arabia has pledged to reduce its output to 10.058 million bpd as part of an OPEC deal reached on Nov. 30 to lower the group's production to 32.5 million bpd.The rise in November means Saudi Arabia, OPEC's biggest producer, will have a bigger task in complying with a plan to cut supply starting in 2017 - its first production-reduction deal since 2008.Saudi crude exports have been high in recent months, reaching 7.812 million bpd in September, while output has stayed at elevated levels despite the usual seasonal decline in winter when domestic consumption of crude burning for power is less.A Reuters survey estimated Saudi production in November at 10.45 million bpd due to reduced crude use in power plants for air-conditioning, and lower refining.A Platts OPEC survey in November estimated Saudi oil production at 10.52 million bpd.OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices.With the deal finally signed after almost a year of arguing within OPEC, the market's focus will now switch to compliance.OPEC has a long history of cheating on output quotas. The fact that Nigeria and Libya were exempt from the deal due to production-denting civil strife will further pressure OPEC leader Saudi Arabia to shoulder the bulk of supply reductions.Saudi Energy Minister Khalid al-Falih said the kingdom may be willing to cut to below 10.058 million bpd next year.
 State-owned Qatar Petroleum, one of the largest oil companies in the world, announced on Tuesday that it will reduce production levels from the beginning of next year.The reduction -- beginning on January 1 -- comes following the recent decisions by OPEC and non-OPEC oil-producing countries to cap output."We have started advising our customers of the expected reductions in oil deliveries to ensure the state�s compliance with OPEC�s allocations," said a statements from Saad Sherida Al-Kaabi, president and chief executive of state-owned Qatar Petroleum."This decision comes in line with the state of Qatar�s commitment to the recently agreed production levels by the members of OPEC during its ministerial meeting held on 30 November, 2016."No further details about production levels were given in the statement.On November 30, Qatar was among the OPEC countries which agreed to reduce output by 1.2 million barrels per day (bpd).This was followed earlier this month by non-OPEC oil producing countries agreeing a cut of 558,000 bpd.
 Iran has agreed with Pakistan to negotiate amendment in the Gas Sale Purchase Agreement (GSPA) for implementation of the IP gas pipeline project in the extended period.</strong�Pakistan has requested Iran for amendment in the GSPA and sent it a draft accordingly. Iran has agreed to negotiate the same along with some other amendments, which are awaited,� official sources in the Ministry of Petroleum and Natural Resources told APP sharing current status of the project.They said funds would be allocated for the Iran-Pakistan (IP) gas pipeline Project as per procedure in the due course of time.Answering a question, the sources said the revised timeline for completion of the project would be decided mutually in the forthcoming meetings between Pakistan and Iran.�The details, in this regard, can be sorted out by the Experts Group, which should meet to discuss and decide on all outstanding matters,� they said.Sharing details of the project, the sources said Inter-Governmental Framework Declaration was signed between the two countries on May 24, 2009, while GSPA had reached on June 2009.Subsequently, Pakistan issued sovereign guarantee on May 28, 2010.Project consultant was appointed on April 11, 2011, while the design, feasibility, route survey and other formalities of the project were completed on September 8, 2012.The 56-inch diameter pipeline will initiate from South Pars gas field Iran and end at Nawabshah covering a distance of around 1,931 kilometer with 1,150 km portion in Iran and 781 km in Pakistan.The implementation is to be done on the basis of a segmented approach whereby each country will be responsible for construction of pipeline in the respective territory.The 750 mmcfd gas flow in the pipeline is projected to help generate around 4,000 MW electricity.Moreover, they informed that construction work on the 700-kilomtre Gwadar-Nawabshah gas pipeline was expected to commence soon on the same route of the IP gas pipeline project in collaboration with China.
 Pakistan and Russia have held their first consultations on regional issues here on Wednesday at the Ministry of Foreign Affairs.</strongDuring the consultations, the whole range of regional issues as well as key areas of mutual interest including economic cooperation and connectivity were discussed, said a statement.The Russian side was led by Alexander V. Sternik, Head of the Third CIS Department of the Ministry of Foreign Affairs of Russia while the Pakistani side was led by Ahmad Hussain Dayo, Director General (West Asia), Ministry of Foreign Affairs.The two sides also exchanged views on important global and regional developments.It was decided that the next round of consultations will be held in Moscow in 2017.
 The U.S. dollar edged lower against a basket of major currencies on Friday, but still held near 14-year highs touched after Wednesday's Federal Reserve meeting, with profit-taking halting the greenback's rally.</strongThe dollar index, which measures the greenback against a basket of six major rivals, was last at 102.900, not far from Thursday's 14-year high of 103.560 but down 0.12 percent on the day.The index gained 1.2 percent on Thursday to mark its biggest daily percentage gain in nearly six months a day after the U.S. central bank raised interest rates for the first time in a year. The Fed also signaled it was likely to hike rates three more times in 2017, up from the two increases forecast at the central bank's September meeting.The projections, combined with expectations that U.S. President-elect Donald Trump's incoming administration may boost domestic economic growth with fiscal stimulus, sent the dollar shooting higher and brought parity with the euro back in play.Profit-taking ahead of the weekend and expectations of a squeeze on dollar liquidity heading into year-end dampened the dollar's gains on Friday, analysts said."The scale of the move since the FOMC meeting has been significant, and you would expect to see some kind of profit-taking on dollar longs," said David Gilmore, partner at FX Analytics in Essex, Connecticut.The euro was last up 0.2 percent against the dollar at $1.0433 after hitting a nearly 14-year low of $1.0364 on Thursday, with the current level putting it about 4 percent away from parity with the dollar. The dollar was down 0.2 percent against the yen at 117.94 yen after hitting a roughly 10-1/2 month high of 118.66 yen on Thursday.Despite Friday's losses, the dollar remained on track to notch its biggest weekly percentage gains against the euro, yen, and Swiss franc in four weeks. The euro was on track to decline 1.2 percent against the dollar, while the dollar was set to gain 2.2 percent against the yen and about 1 percent against the Swiss franc for the week."We�re probably starting to thin out for the holidays as well," said Win Thin, global head of emerging market currency strategy at Brown Brothers Harriman in New York.Against the Swiss franc, the dollar was last down 0.3 percent at 1.0268 francs after touching 1.0344 francs on Thursday, its highest since August 2010.
 India�s central bank on Monday imposed fresh restrictions on deposits of banned currency notes into bank accounts, days before the December 30 deadline to swap old rupee bills for new ones.Prime Minister Narendra Modi unleashed chaos last month with his shock move to withdraw high-denomination 500 ($7.50) and 1,000 rupee notes from circulation, in an effort to tackle widespread corruption and tax evasion.The decision triggered a cash crisis, with long queues materialising outside banks across the country as people tried to get rid of their old notes -- some 86 percent of all bills in circulation -- ahead of next week�s deadline.On Monday the Reserve Bank of India (RBI) said that people would now only be allowed to make a single deposit amounting to more than 5000 rupees ($75) before the deadline, and would be required to explain why they hadn�t deposited the money earlier."Tenders of Specified Bank Notes (SBNs) in excess of rupees 5,000 into a bank account will be received for credit only once during the remaining period till December 30," the RBI said.Opposition parties attacked the move, which comes as many Indians are already facing a shortage of cash with ATMS running dry as thousands throng to them."There are elderly, housewives, poor and students who were waiting for the long queues to become smaller," the opposition Congress party spokesman Randeep S. Surjewala told reporters in Delhi."This new rule shows that Modi government has no direction or clear policy", he added.Modi has repeatedly defended the scheme, saying it will bring billions in so-called "black", or undeclared, money back into the formal system."I said this at the start, and will repeat again today, these difficulties that you have been facing will start easing after December 30," he said on Monday, addressing a political rally in the northern state of Uttar Pradesh.The premier also hinted at more tax raids, arrests and bank scrutiny in the coming days.In the past few weeks several people have been arrested in surprise raids, revealing the role of bank officials who have allegedly facilitated the illegal exchange of old currency notes."Some people thought that they could get away by simply depositing their unaccounted (black) money in the banks. They underestimated the government. They are trapped and will now be caught using technology," Modi warned.
//bit.ly/28KxqNM">foodpanda</a>, is cooking something tasty again! They have declared 23rd to 25th of December 2016 as three days of no cooking with a loud and clear message: �#DontCook (23rd � 25th Dec)�,through their campaign �Best of 2016�, where they will be offering up to 80% discount on more than 200 restaurants nationwide. And this powerful call for all the foodies out there seems really promising.According to team foodpanda, the meticulousidea behind this campaign is to close this amazing year with a bang! Since, the last week of December is itself a festive time of the year - all kids are enjoying their winter vacations; the entire nation observes a national holiday on account of Quaid-e-Azam�s birthday; and the Christian community in Pakistan is celebrating Christmas -henceforth foodpanda has planned to turn these festivities into a grand celebration with their mind-blogging scheme: The entire nation is to lock up their kitchens and order in from foodpanda for three consecutive days and spend a great time with their loved ones with delicious food, that costs next to nothing!This campaign is expected to hold out the greatest deals and discounts ever offered!Celebrities, top chefs, partnering restaurants and all the foodies � who by the way happen to be ardent users of foodpanda �are all highly excited since Pakistan�s favorite food chains like KFC, McDonald�s, Domino�s, OPTP, Broadway, New York Pizza, and many others will be offering huge flat discounts and massive value-for-money deals on foodpanda giving their customers an utter convenience of ordering with just a few taps on their phones.NaumanSikandar, CEO foodpanda says, �Best of 2016 this year around is going to be fabulous! The amazing discounts that we have been bringing for our customers all year long have been bundled up in three just days, with up to 80% Discounts on more than 200 top restaurants. So, 23rd to 25th December gharpekhananahi banana hai, sirffoodpanda se mangwanahai!�Thus, having savouredfoodpanda�sexclusive deals on top restaurants during their eventslike Flat 20% Off and Free Delivery, foodpanda�s 4th Anniversary, The Great Online Food Festival, Black Friday and many more exciting campaigns throughout the year, we await with our mouth drooling and fingers crossed, for atastefulclose to such a happening 2016!strong>About foodpanda</strongfoodpanda is a global mobile food delivery marketplace headquartered in Berlin, Germany, and�operating in 24 countries and territories. The service allows users to select from local restaurants and place orders via its mobile application as well as the website. The company has partnered with over 40,000 restaurants. foodpanda is one of the fastest growing e-commerce businesses in Pakistan; recently the online giant achieved a truly extraordinary milestone in record time when it reached PKR 1 billion in revenue generation.
 Asian shares steadied in early trade on Monday after China agreed to return a U.S. drone it had seized, easing worries about rising diplomatic tensions between the world's two biggest economic powers.</strongMSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent after falling to its lowest level in three weeks on Friday. Japan's Nikkei dipped 0.2 percent from one-year high.Financial markets briefly turned "risk-off" in late U.S. trade on Friday following news that a Chinese Navy warship had seized a U.S. underwater drone in international waters in the South China Sea.The Dow Jones industrial average ended down 0.04 percent to 19,843.41 on Friday, while the S&amp;P 500 lost 0.18 percent to 2,258.07.The furor appears to have been defused for now after the two countries said on Saturday China will return the drone."I think the markets' trend will continue. Share prices will edge higher and so will bond yields. The dollar will remain strong. One key question is whether the Dow Jones will hit the 20,000 mark," said Koichi Yoshikawa, executive director of financial markets at Standard Chartered Bank in Tokyo.Expectations that U.S. President-elect Donald Trump will boost fiscal spending, growth and inflation have prompted investors to bet on a faster pace of U.S. rate hikes, boosting U.S. bond yields sharply.The 10-year U.S. Treasuries yield stood at 2.579 percent in Asia on Monday, near its two-year high of 2.641 percent touched on Thursday.As higher U.S. yields shore up the dollar, the dollar's index against a trade-weighted basket of six major currencies jumped to a 14-year high of 103.56 last week.It last stood at 102.71.The euro traded at $1.0451, bouncing back from last week's low of $1.03665, its weakest since January 2003.The dollar traded at 117.80 yen, off Thursday's 10-1/2-month high of 118.66.The Australian dollar dropped to a 6-1/2-month low of $0.7267 on Friday and last stood at $0.7293, dragged by the dip in the price of copper and some other commodities.London copper hit its lowest level in more than three weeks on Friday on rising inventories and signs of softer demand from China.Oil prices held firm after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.Brent futures rose 0.2 percent to $55.34 a barrel, while U.S. West Texas Intermediate crude added 0.3 percent to settle at $52.06 per barrel.
 Oil prices nudged higher on Wednesday on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas weekend.</strongU.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $53.58 per barrel at 0105 GMT, up 28 cents from their last settlement.International Brent crude oil futures LCOc1 were at $55.57 a barrel, up 22 cents.Traders said the higher prices were largely due to an expected reduction in U.S. crude oil inventories, which will be reported late on Wednesday.Jeffrey Halley, analyst at futures OANDA in Singapore said U.S. crude stocks were expected to fall by 2.563 million barrels.In the absence of strong fundamentals, traders said that technical support and resistance levels would become price drivers."U.S. oil may rise to $54.37 per barrel, as it has broken resistance at $53.36," said Reuters technical commodities analyst Wang Tao."Brent oil is poised to break a resistance at $55.79 per barrel," he said.
 A consortium led by three Chinese exchanges has offered 28 rupees ($0.27) per share to buy a 40 percent stake in the Pakistan Stock Exchange, according to a statement and the bourse's top official.</strong"All I can say ... is the Chinese consortium is the top bidder," Managing Director Nadeem Naqvi told Reuters on Thursday ahead of an official announcement of the bids.The consortium is led by the China Financial Futures Exchange Company Limited, the Shanghai Stock Exchange and the Shenzen Stock Exchange, according to a PSX statement.It also includes two Pakistani financial institutions, the Pak-China Investment Company Limited and Habib Bank Limited (HBL.KA).Naqvi said 40 percent of the Karachi-based stock exchange represents 320 million shares. That would make the potential deal worth PKR 8.96 billion ($85 million).Earlier, at least 17 parties submitted expressions of interest, Naqvi said. He would not say how many had made formal bids.Pakistan's stock exchange has been one of Asia's best performing for several years and was recently approved to be restored to the MSCI Emerging Markets Index, giving it a wider range of potential investors than as a Frontier Market.The index has since gained 21 percent in terms of points, closing at 46,699.78 on Thursday."The Divestment Committee will now issue the Letter of Acceptance to the above Consortium, subject to formal approval of Securities and Exchange Commission of Pakistan [SECP]," read the statement confirming the bid.Confidence in Pakistan is growing, with the International Monetary Fund claiming in October that the country has emerged from crisis and stabilised its economy after completing a bailout programme.Its credit rating has improved, while there are encouraging signs of foreign investment, such as a massive Chinese infrastructure project officials routinely call a "gamechanger".
 Saudi Arabia on Thursday projected a 2017 budget deficit of about $53 billion and a lower than expected shortfall for this year after government cost-cutting in response to lower oil prices.</strongExpenses next year will reach 890 billion riyals ($237 billion) against revenues of 692 billion riyals ($184 billion), the cabinet said in a statement.It said this year�s deficit will be 297 billion riyals ($79 billion), down 8.9 percent from 2016�s budget forecast."This budget comes at a time of a highly volatile economic situation... and which led to a slowdown in world economic growth and a drop in oil prices that impacted our country," King Salman said on official television, with Finance Minister Mohammed Aljadaan seated nearby at a table of cabinet ministers.Revenues for this year are expected to be 528 billion riyals, higher than projections a year ago of 513.75 billion, the cabinet said.Spending is expected to come in at 825 billion riyals for 2016, 1.8 percent lower than foreseen.The world�s biggest oil exporter froze major building projects, cut cabinet ministers� salaries and imposed a wage freeze on civil servants in the wake of last year�s record deficit of $97 billion.Analysts said that figure was 15 percent of gross domestic product, making it one of the largest in the emerging world.The government made unprecedented cuts to fuel and utilities subsidies last year in a country long accustomed to some of the cheapest petrol prices in the world.A year of cutbacks left retailers complaining of lower sales and residents saying they had less money to spend."Given the opaqueness of policy announcements, the budget will provide investors with an opportunity to gauge the government�s commitment to fiscal austerity," London-based Capital Economics wrote in a pre-budget briefing.Oil prices, which were above $100 a barrel in 2014, sank below $40 in 2016 but recovered towards the end of this year and traded on Thursday below $55.The plunge in global oil prices led Riyadh to intensify economic reform efforts, which are being led by Salman�s son, Deputy Crown Prince Mohammed bin Salman, 31.In April the prince released the Vision 2030 programme for diversifying the oil-dependent economy.At its heart is a plan to float less than five percent of state oil giant Saudi Aramco on the stock market, with the proceeds helping to form what will be the world�s largest state investment fund, holding about $2 trillion in assets.The IPO could take place in 2018 and would be the biggest in history.
 US regulators fined Goldman Sachs $120 million Wednesday for attempting to manipulate a widely-used global interest rate benchmark to benefit its trading positions.</strongGoldman Sachs traders between 2007 and 2012 deliberately timed and priced trades to influence the published price of the benchmark interest rate, the US Commodities Futures Trading Commission said in a statement.Goldman, one of a group of banks whose data set the benchmark daily, also made false submissions to skew the rate at the expense of counterparties, the CFTC said.The US Dollar International Swaps and Derivates Association Fix is a daily benchmark used for a wide range of financial products, such as interest-rate swaps and derivatives.In addition, the company�s cooperation "was not satisfactory" prior to the latter stages of the investigation, the CFTC added.The agency previously fined Citigroup and Barclays for attempted manipulation of the same benchmark interest rate."This matter, the third enforcement action relating to the (benchmark), demonstrates the breadth of this kind of misconduct across the industry, and within Goldman, the extent of the misconduct across trading desks and product lines," said CFTC director of enforcement Aitan Goelman.Besides paying the fine, Goldman�s supervisor for trading on interest-rate products must attest to the effectiveness of remedies to fix the problem.In a separate case,, the Swiss Competition Commission earlier Wednesday hit eight large global banks a total fine of nearly $100 million for rigging international rates between 2005 and 2010. The group included Barclays, Citigroup and JPMorgan Chase.
 Top Chinese daily Global Times in an opinion piece has advised India to join the China-Pakistan Economic Corridor (CPEC) to ease tensions with Pakistan and boost growth.</strongThe writer suggested that surprise aside, New Delhi should consider accepting the olive branch Pakistan has extended in a bid to participate in the CPEC.In a surprise move, Commander Southern Command Lt General Amir Riaz on Tuesday invited India to join the CPEC and �share the fruits of future development by shelving the anti-Pakistan activities and subversion�.Such an opportunity could be transient. There is a possibility that the open attitude toward India joining the CPEC will quickly be overwhelmed by opposition voices from Pakistan if New Delhi does not respond in a timely manner to the general's overture, the op-ed piece noted.The ongoing dispute over Kashmir between India and Pakistan makes New Delhi vigilant about the $46 billion project as it will reportedly pass through Azad Jammu and Kashmir. However, like Pakistan, India's primary strategy is to promote economic and social development. The best way to reduce hostilities is by establishing economic cooperation based on mutual benefits to put aside what cannot be reached by a consensus.China has no intention of using the CPEC as strategic leverage to intervene in Pakistan and India's dispute. On the contrary, China is likely to adopt an open attitude toward India joining the CPEC and would be happy to see more friendly interactions between the two South Asian neighbors. The CPEC has long been seen as a flagship project in China's Belt and Road initiative and India's involvement would be conducive in pushing forward the initiative.India's economy has reportedly overtaken its former colonial ruler, the UK, to become the sixth-largest in the world by GDP. Now it seems the emerging economy is pushing past these current achievements. India is ramping up efforts to integrate itself into global manufacturing chains, and as such will need to boost regional economic integration and open new international trade routes to build an export-oriented economy.India could boost its exports and slash its trade deficit with China via new trade routes that would be opened up by the CPEC. In addition, the northern part of India bordering Pakistan will gain more economic growth momentum if India joins the project. It is understandable that cooperation between the traditional rivals may make India uncomfortable. However, New Delhi's attitude toward Pakistan's gesture can be a touchstone for the country's determination and courage in becoming a greater economic power.
 Europe's Airbus signed a firm contract on Thursday to sell 100 jets to IranAir, completing a return by Western plane giants and paving the way for deliveries to start next month, a year after sanctions against Iran were lifted.</strongThe deal took weeks of shuttling between Airbus headquarters in Toulouse, France, and Tehran, complicated by a shortage of expert legal advice as Iran completes its biggest commercial deals with the West since its 1979 Islamic revolution.Confirming details first reported by Reuters, Airbus said almost half the jets would be for short to medium routes and that deliveries would start early next year.The contract includes 46 of the narrrow-body A320 family which includes the A321 model, 38 long-haul A330s and 16 of Europe's newest long-range model, the A350.Such a deal would be worth $18-20 billion at list prices, depending on variants flown, but Iran is expected to receive steep discounts from foreign manufacturers as its aviation renewal coincides with a drop in demand elsewhere.The head of IranAir was quoted earlier as saying the value of the contract would not exceed $10 billion.It is expected to be followed by a formal deal to buy turboprop aircraft from ATR, half-owned by Airbus.The breakthrough comes days after Iran signed a $17 billion deal with Boeing for 80 jets and is expected to sharpen efforts by the U.S. company to persuade the incoming U.S. administration to allow the trade to go ahead, aviation experts said.The first jet, an Airbus A321 already painted in IranAir livery, may arrive before the Jan. 20 inauguration of President-elect Donald Trump, who has opposed an international deal to lift sanctions in return for curbs on Iran's nuclear activities."When Airbus and ATR aircraft start going into Iran, Boeing will point to that to argue that it should implement its own deal," said an aviation source who closely followed the talks.Boeing declined to comment.MOVING QUICKLYDespite rivalries, the Airbus and Boeing deals with Iran are unusually intertwined because each depends on continued U.S. clearances for the sale of planes built with U.S. parts."Everyone has an interest in moving quickly. The Iranian government wants to show results from the nuclear deal; Airbus wants to get deliveries moving and Boeing wants the leverage it can get from European deliveries to Iran," another source said.The ability to renew Iran's ageing and accident-prone fleet is widely viewed as a test of the pragmatist policies of Iranian President Hassan Rouhani ahead of presidential elections in May.Airbus said the deal was subject to U.S. Treasury export licences granted in September and November 2016.Republican critics of the nuclear pact want Trump to block the aircraft deals and have sought to hamper them by voting to tighten restrictions on use of the U.S. financial system.Airbus is expected to be paid in euros instead of the usual dollars and is likely to provide its own financing for the first few jets, adding to cash strains caused by a spike in customer financing for Turkey this year.Planemaking chief Fabrice Bregier called the deal "a significant first step" in modernising Iranian aviation, adding it included training, airport operations and air traffic management.However, both sides confirmed the Airbus A380 had been jettisoned from a provisional list first agreed in January.
 Saudi Arabia plans to sell up to 49 percent of its oil giant Saudi Aramco within 10 years as the world�s largest crude exporter tries to lower its deficit, local media said Saturday.</strongThe Al-Eqtisadiah daily quoted an unnamed official as saying the sale would raise funds to be spent "at home and abroad" in what is expected to form the world�s largest state investment fund.The kingdom is looking to diversify its oil-dependent economy and has already announced cutbacks after its 2015 deficit snowballed to $97 billion (93 billion euros).The IPO for state-owned Aramco could take place in 2018 and an initial sale of a five percent share is expected to form the basis for the fund holding around $2 trillion in assets.The firm will next year begin publishing quarterly results in a bid to attract potential investors, Aramco chief Amin Nasser has said.Riyadh earlier this month agreed to slash its oil production beyond cuts agreed among OPEC members, giving crude prices a lift. They remain at around half of their mid-2014 levels.
 �A huge reserve of oil and gas has been found in Jandran area of Marri Agency of Balochistan.These gas reserves are said to be much bigger than gas found in Sui Dera Bugti in early1950.Well placed sources confirmed that gas reserve found in Jandran region is much bigger than gas found in Sui Gas reserves from Sui first and followed by two other big reserves at Pir Koh and Loti field.�Sui gas was main cause of industrial revolution in Pakistan mainly in Karachi and Central Punjab where gas replaced oil as an energy substitute.The fourth gas reserve was also found in Bugti tribal territory in Uch Mountains and the gas is being used by a private concern producing electricity at the two Uch Power Plants near Dera Murad Jamali in Naseerabad.The electricity produced at Uch Power Plant is sold to WAPDA and transmitted to National Grid in nearby province of Sindh and mainly its upper region.
 The finance ministry Monday categorically denied the news reports and rumors circulating in a section of press and some business circles regarding demonetization of Rs 5,000 note.</strongAccording to finance ministry�s spokesman, the government had not taken any decision regarding discontinuation of Rs 5,000 note, so there was no need to give any justification into the matter.He said the current denomination of highest value notes in Pakistan i.e. Rs 5,000 was significantly smaller as compared to those of major currencies such as $100 note, Euro 200 and Pound Sterling 50.During 2015-16, only 17% of the notes printed were of Rs 5000 denomination.The government believed that discontinuation of Rs 5000 note would adversely affect the efficiency of exchange in the business and become a source of major discomfort and anxiety for the people.�As such the very notion of cancellation of such convenience in transactions is preposterous and unequivocally denied,� spokesman said.The spokesman stated that the government was pursuing a National Financial Inclusion Strategy in association with the State Bank, whereby digital transactions and branchless banking was being brought to the doorstep of people that would significantly reduce the dependence on currency.This was the way to move forward for promoting documentation in the economy rather than by canceling any existing denomination, he added.He hoped that people would not lend their ears to rumors and trust the authentic word of their elected government.�
 Iran has offered to provide modern buses to improve public transport in Pakistan, especially in Sindh province.</strongAccording to Radio Tehran report, Iranian Consul General Mehdi Sobhani made the offer in a meeting with Sindh Minister for Transport and Mass Transit Nasir Hussain Shah.The minister lauded the CG for offering assistance in various transport-related projects and offering to provide 200 modern buses to improve public transport in the city.He said provision of a modern transport system to the people was a priority of the government and efforts were underway on various projects in this regard.The Iranian diplomat also invited the minister to bring along officials of the transport department to Iran on an exposure visit to witness the modern urban transport system operating in Tehran.
strong>OMD Pakistan, a part of the Omnicom Media Group, on 30th November, 2016 won the title of �Pakistan Media Agency of the Year� at the Campaign Asia-Pacific Agency of the Year Awards 2016.</strongThis is OMD Pakistan�s third consecutive award at Campaign Asia�s Agency of the Year Awards, but the first time as a winner of the Gold.OMD Pakistan achieved the accolade by demonstrating a strong business performance in 2016 - obtaining numerous top tier clients, whilst retaining 100% of its existing client base. The team takes pride in their creativity, innovation, service, transparency and commitment to its clients.Omnicom Media Group�s Asia Pacific CEO, Cheuk Chiang, said, �OMD Pakistan is a very strong force in our region and we couldn�t be prouder of their performance and growth this year�.OMD Asia Pacific CEO, Stephen Li, said, �OMD Pakistan has done it again and this time bagged the top, enviable title. We couldn�t be happier to raise the bar for ourselves every year. The award not only is a reflection on the agency�s performance but also mirrors the strong support of all their clients allowing them to indulge beyond the regular and deliver fearless creativity�.CEO OMD Pakistan, Dara Bashir Khan, commented, �Winning the Gold this time goes to show the trust and confidence our clients have in our abilities. It couldn�t have been possible without their support and our commitment towards unparalleled potential � the sky is definitely not the limit for us!�Campaign Asia-Pacific�s Agency of the Year Awards honor �inspired leadership, management excellence, outstanding business performance and overall achievements�, in Asia Pacific�s advertising and communications industries.
 China's non-financial outbound direct investment (ODI) is likely to hit 1.12 trillion yuan ($161.19 billion) in 2016 and foreign direct investment into China will total 785 billion yuan, Commerce Minister Gao Hucheng said on Monday.</strongThe government will "promote the healthy and orderly development of outbound investment and cooperation" in 2017, Gao said in remarks at a conference that were published on the ministry's website.China's ODI in November jumped 76.5 percent from a year earlier and it rose 55.3 percent in the first 11 months of 2016, the ministry's data showed, as local firms continued to invest abroad amid a slowing economy and weakening yuan.Separately, the ministry said on its microblog that China will sharply reduce restrictions on foreign investment access in 2017, opening up sectors where foreign companies have strong investment interest and risks are under control.No details were given on what restrictions will be changed.Earlier this month, China published draft foreign investment guidelines which it said would "increase openness to the outside world".Based on Gao's forecasts, non-financial ODI is set to surpass foreign direct investment into China by an unprecedented 335 billion yuan this year, amid worries about capital outflows.For all of 2015, the ministry reported non-financial ODI of 735.1 billion yuan, and FDI of 781.4 billion yuan.Gao said that in 2017, difficulties faced in maintaining a stable flow of foreign investment into China will increase, while sources of volatility for China's outbound investment will rise along with risks, according to an interview with state media published Monday.Beijing has announced a string of measures recently to tighten controls on money moving out of the country, including closer scrutiny of outbound investments, as the yuan skids and the country's foreign exchange reserves fall to the lowest levels in nearly six years.China will further enhance the competitiveness of its foreign trade and consolidate recent good momentum, Gao added.
 London stocks closed at a record high Wednesday on the back of a Santa Rally in subdued trade after a long Christmas holiday, while Wall Street retreated from record highs.The British capital�s benchmark FTSE 100 index of top blue-chip firms won 0.5 percent from last Friday as traders returned from a four-day holiday weekend, closing at a record high of 7,106.08 points, beating the previous record of 7,103.98 set in April 2015.The "Santa Rally bullishness appears to remain firm on hopes of an OPEC-led production cut and Trump stimulus," Accendo Markets analyst Mike van Dulken told AFP, with rising oil prices boosting a number of FTSE 100 stocks.The record close came as US stocks have also been setting new highs following the US election victory of Donald Trump sparking hopes of additional spending and tax cuts, with the Dow having flirted with the 20,000 level in recent weeks.Rising commodity prices have also boosted mining companies on the FTSE."The FTSE 100 is the star performer today, helped on its way higher by an excellent turn from the index�s mining contingent," said analyst Chris Beauchamp at online trading firm IG.Shares in Anglo American shot up 3.6 percent and BHP Billiton jumped 4.3 percent and Fresnillo soared 5.2 percent.Rangold rose 4.9 percent and Rio Tinto 3.4 percent.The main corporate deal of the day was British energy giant BP, which announced it has bought a network of Australian petrol stations from supermarket chain Woolworths for US$1.3 billion (1.2 billion euros).BP said in a statement that it will establish a strategic partnership with Woolworths in a deal for the purchase, rebranding and operation of Woolworths� existing 527 fuel and convenience stores, plus 16 sites under construction, for the equivalent of AUS$1.8 billion.The company�s share price bumped 1.2 percent higher to close at 508.90 pence.Frankfurt and Paris, which had reopened Tuesday, were essentially flat on Wednesday.Thin trading volumes are expected to continue during what is the last trading week of 2016.
 Three years on, the China-Pakistan Economic Corridor (CPEC), described by Prime Minister Nawaz Sharif as a "game changer" for the entire region here, has entered into full implementation in 2016 and remarkable progresses have been achieved.</strongThis was stated in a recent analytical report by the Chinese state news agency, Xinhua.Chinese ambassador to Pakistan Sun Weidong reiterated on many occasions that 16 early harvest projects, including several power stations, highways and projects related to Gwadar Port, are under construction and tens of thousands of new jobs have been created for local people."The China-Pakistan Economic Corridor is building a more amicable bond between our two brotherly countries. Our friendly cooperation is ushering in a golden era for greater development," said Sun during the ceremony of installation of a new chandelier at Mazar-e-Quaid, or the Mausoleum of the Founder of Pakistan Muhammad Ali Jinnah, in Karachi on Dec. 17.Last month, a trade convoy organized by the two countries successfully passed through the western part of Pakistan for the first time from the north to the south, proving the connectivity of local roads and the realization of the concept of "one corridor with multiple passages" under the CPEC.Meanwhile, Gwadar Port also marked its first export of massive containers to overseas destinations in November, showing that the port's designed handling capacity has been restored."Since the commencement of the CPEC, 2016 is the year when we have seen a project completed or start working. In addition to the Gwadar Port operations, Prime Minister Sharif also inaugurated a number of others projects in the country, especially in some routes in the western part of the CPEC. There are at least 39 projects, the majority of them related to energy, where obvious progress has been seen during 2016," Saeed Chaudhry, director of the Islamabad Council for International Affairs, told Xinhua in a recent interview.img alt="" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/CPECtrade.jpg" style="display: block; margin-left: auto; margin-right: auto;"/Chaudhry's remarks include the second phase of upgrading the Karakorum Highway from Havelian to Thakot and the highway linking Pakistan's largest cities of Karachi and Lahore. Both of the two highways have been smoothly implemented and for the former, the Abbottabad Tunnel construction project has begun and seen substantive progress.In terms of the energy field, China is helping boost green, low-carbon and sustainable energy development to address power shortage in Pakistan.Several wind power farms and hydropower stations are under construction and the eye-catching Port Qasim coal-fired power project in Karachi, which adopts a costly method to lower the temperature of the seawater used to cool the generating units in order to prevent them from heating up water temperature around the coast, is expected to be completed ahead of schedule and play its role in addressing Pakistan's electricity shortage."We are not coming only for big projects, we are here to help countries, such as Pakistan, to plan and design their future energy development blueprints so as to address problems they are facing and to make the projects a reality," Yan Zhiyong, chairman of the Power Construction Corporation of China, which is charged with the construction of the Port Qasim coal-fire power project, told Xinhua earlier.img alt="" height="746" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/133315067_13994248528241n.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="826"/According to Bilal Khan, a senior economist at Standard Chartered Bank (Pakistan) Ltd., due to the enhanced infrastructure such as roads and railways brought by the CPEC, the gross domestic product (GDP) growth should increase from around 4.7 percent last year to around 6 percent by 2019, and stay around the same level for 2020 in the southern Asian country."The CPEC itself for Pakistan at a bare minimum offers a significant opportunity for the country to address its supply side constraints such as weak foreign capital inflow," Bilal Khan told Xinhua earlier, adding that the CPEC will attract foreign direct investment from both private and public sectors to help keep a balanced current account in Pakistan against a backdrop of rebounding oil prices."Before the CPEC, Pakistan's economy was feeble and stagnant, and investors, even ones of Pakistan origin were reluctant to invest in it, but right now the economic indicators of Pakistan have turned positive, investors from around the world are flocking to Pakistan, and the country's economy has been given new life and is booming and full of future prospects. Pakistan's main issue is shortage of revenue and unemployment, but the CPEC will provide solutions for the both," Chaudhry also pointed out.The professor also said that further afield, from Russia to central Asian states to Sri Lanka, the CPEC will bring a change to the countries' economies and to the lives of more than 3 billion people living in this region."The project has already become the center of global attention, especially in our region," concluded the professor.img alt="" height="634" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/C0upmD8XcAAJ77v.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="1024"/
 Pakistan expects to secure soft loans from China of about $1 billion this week for three road projects in the China-Pakistan Economic Corridor (CPEC), a Pakistani official said on Tuesday.</strongThe roads lie on the western route of CPEC, a $55 billion network of roads, rail links, power plants and other infrastructure connecting western China to Pakistan's southern port of Gwadar.They include roads from Raikot to Thakot, Yarik to Zhob and from Basima to Khuzdar, Ashraf Zaman, spokesman for Pakistan's National Highway Authority (NHA) told Reuters.Zaman said a deal was reached with the Chinese to finance the three additional roads in November."Hopefully, agreement will be signed between the two countries in this regard in China-Pakistan Joint Cooperation Committee (JCC) meeting to be held on Dec. 29 in Beijing," he said.
 The Chinese authorities, in principle, have approved the inclusion of three important projects of Sindh in the China-Pakistan Economic Corridor (CPEC), the spokesman of Sindh CM said Thursday.</strongThe decision was taken in the 6th CPEC related Joint Cooperation Committee (JCC) meeting held here at here the NDRC building.The projects include Karachi Circular Railways (KCR), Keti Bandar and Special Economic Zone in Dhabeji.The Chinese delegation was led by Vice Chairman Wang Xiaotao, while the Chief Minister Syed Murad Ali Shah led his side.The chief minister pleading his case for the KCR said that Karachi is one of the most populated cities of the world, �therefore, there are ample returns of the investment if made in the city�. The prime minister has approved its inclusion in the CPEC and has also assured sovereign guarantee.The JCC decided to include the project and asked the provincial government to present its feasibility within next three months. <br/>Explaining about the Keti Bandar project, the CM told the working group of JCC on Ports that it is an ideal location to serve as a Thar Coal based Power Park and a platform for future exports as it is located at a distance of 160 kilometers from Karachi and connected with metallic road.He added that the power park would have the capacity of generating 10,000 MW and there would be a transmission line to connect Keti Bunder with Jamshoro and Matiari grids.The JCC approved the project and decided to conduct feasibility study.Talking about Dhabeji, CM Murad said it stretched over 1000 acres and is located about 55 kilometers from Karachi at the Easter alignment of CPEC (N-5) or M-9. While the Keti Bander SEZ spread over 3000 acres and its industrial development potential would be realized after the construction of port.It was then decided to give a Special Economic Zone to every province, including Sindh which would have Dhabeji Special Economic Zones.
 After the deregulation, CNG pump owners in Sindh grabbed the first opportunity and hiked the price up to Rs 3.5 per litre putting more burden on the consumers.</strongThe CNG owners have formed a cartel since the new mechanism was implemented. After the hike, the new price would be between 70 to 71 rupees per litre.The masses have shown resentment on the increase.Earlier this month on December 20, the Ministry of Petroleum and Natural Resources approved the deregulation of prices of CNG, following which the station owners were authorised to set their own prices.The ministry issued a notice to CNG owners stating that prices are no longer regulated by the Oil and Gas Regulatory Authority (OGRA), and the CNG station owners are free to decide and set their own prices.
 Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world.</strongIn stark contrast to the relative inertia of white-collar law enforcement in Europe, Washington most recently brought the hammer down on Deutsche Bank and Credit Suisse, which sold junk-filled, mortgage-backed securities ahead of the 2008 financial meltdown.Deutsche Bank has agreed to a payout of $7.2 billion, while Credit Suisse settled for $5.3 billion to resolve American authorities� allegations and avoid the lengthy headache of a trial.Instead of dragging financial firms to court, the US has taken them to the cashier.American giants have not been spared: JP Morgan Chase, Citigroup, Morgan Stanley and Bank of America collectively have shelled out $40 billion to settle cases linked to toxic, crisis-era financial products."There�s a kind of fundamentalism to US law," said Nicolas Veron, a senior fellow at the Brussels-based think tank Bruegel and the Washington-based Peterson Institute."If you break the law, punishment comes down."- Justice without borders -To be sure, British authorities have taken action over the Libor interest rate manipulation scandal but such retribution remains rare in the rest of Europe."It isn�t so much a difference in the rules as in the manner in which they are applied. Things are much more severe in the United States," Veron told AFP, adding that European countries "do not dare" punish their national flagship companies.The American legal framework nevertheless offers the United States the means to extend the long arm of the law well beyond its borders.In the most recent cases, the United States imposed $2.6 billion in criminal penalties on the Brazilian construction conglomerate Odebrecht -- most of which will be paid to Brazil -- and a half billion on the Israeli generic drugmaker Teva Pharmaceutical. Both matters involved corruption occurring outside the United States.The United States pioneered the prosecution of such foreign bribery cases, adopting the Foreign Corrupt Practices Act in 1977 in the wake of the Watergate scandal, which allows US officials to hunt down corrupt payments abroad when the companies involved are traded on Wall Street or are otherwise exposed to US jurisdiction.In the decades since, member countries of the Organization for Economic Cooperation and Development have adopted similar laws but do not enforce them with the same vigor or frequency.Given the means and opportunity to apply its laws "extraterritorially" with such regularity, the United States has become a kind of worldwide anticorruption police force, and buttressed its geopolitical influence."There�s a real nexus between economics and foreign affairs," said Aaron Klein, head of the center on regulation and markets at the Brookings Institution in Washington."The next war is more likely to be fought with bonds than with bombs."- Making Apple pay -In a different kind of case, Volkswagen�s sprawling emissions-cheating scandal also has shown the might of the US legal system and its ability to bring major companies to task.To compensate drivers and repair damage to the environment, the giant German automaker has agreed to pay out more than $15 billion so far, and doubtless will have to pay more before putting the scandal behind it. But the company still could face criminal charges.<br/>In Europe, authorities have also opened investigations into Volkswagen but by their own admission, the results will be much less spectacular."In the European Union, the way to damages is more complicated than in the United States," EU Justice Commissioner Vera Jourova said in September.In the United States, authorities can be supported in their actions by so-called class-action lawsuits brought collectively by groups of private individuals who have been wronged, which can ratchet up pressure on companies. But this option does exist in Europe.European authorities meanwhile have not been completely dormant in dealing with major companies. They have opened numerous anti-trust investigations and intensified their pursuit of tax avoidance and evasion by multinational companies.Making perhaps its biggest splash to date, the European Commission at the end of August directed the iPhone maker Apple to pay 13 billion euros ($13.5 billion) in back taxes to Ireland, drawing the ire of a sizeable player: the United States.
�Media reports have implied that a fraud of Rupees 1.5 billion was committed at National Bank of Pakistan and that the bank incurred a loss of this amount. National Bank of Pakistan firmly denies these allegations.</strongIn some media reports it is also implied that National Bank of Pakistan has caused a loss to our valued client, Abandoned Properties Organization (APO). We again categorically deny these allegations. National Bank of Pakistan has acted upon the client�s instructions with respect to the activities in the APO account.In the course of several banking transactions in 2014-2016, valid instructions were received from APO�s Authorized Signatories. The client�s instructions requested National Bank of Pakistan to remit the funds to Habib Bank Limited (HBL) for onward credit to Abandoned Properties Organization. After carrying out the appropriate level of due diligence, National Bank of Pakistan remitted these funds in accordance with the client�s instructions, using the RTGS system, a secure electronic payment prevalent in the country.However, very recently we received a query from Abandoned Properties Organization concerning their account activity, and within a few days, National Bank of Pakistan completed an investigation which uncovered the fact that Habib Bank did not credit the client with the funds in accordance with the instructions that National Bank of Pakistan provided in the RTGS instructions.National Bank of Pakistan acted swiftly and registered a case with the FIA. Several people have been apprehended by the FIA, including at least 4 past and present senior officials from APO (having the authority to operate their account with National Bank of Pakistan); one or more Habib Bank officials; and a junior executive of National Bank of Pakistan. This lady has been suspended by the bank and does not represent the bank in any capacity. She remains in the FIA�s custody.National Bank of Pakistan is fully cooperating with the regulatory and investigative agencies in this case and is committed to securing the interests of its valued client, Abandoned Properties Organization.
 State Grid of China will help build a 4,000 MW power transmission line in Pakistan in a project valued at $1.5 billion, Pakistan said on Friday, the latest in a series of Chinese investments in its South Asian neighbour.</strongThe high-capacity transmission line will be the first of its kind in Pakistan and will link Matiari town in the south, near a new power station, to Lahore city in the east, a key link in transmission infrastructure, the Pakistani government said.An agreement on the project was signed on Thursday in Beijing between Mohammad Younus Dagha, Pakistan's secretary of water and power, and Shu Yinbiao, chairman of State Grid Corporation of China, the government said in a statement.Construction will begin in January, and should take about 20 months, said a spokesman for the Pakistani prime minister's office.Pakistan has been plagued by a shortage of electricity for years, with widespread rolling blackouts in both rural and urban areas.The government has managed to reduce load shedding - scheduled power outages - in some areas, but production gaps and distribution woes remain.The project is the latest in a series of big Chinese investments, most of which fall under a planned $55 billion worth of projects for a China Pakistan Economic Corridor (CPEC).The corridor is a combination of power and infrastructure projects that link western China to Pakistan's southern port of Gwadar.Other Chinese investment in Pakistan has included the acquisition of a majority stake by Shanghai Electric of the K-Electric power production and distribution company for $1.8 billion.Last week, a Chinese-led consortium bought a 40 percent stake of the Pakistan Stock Exchange for an estimated $85 million.
 Beijing has pledged to open up more economic sectors to foreign investment, an official statement said, as foreign chambers of commerce complain of a worsening business environment in the country.</strongChina will "unwaveringly insist on the opening-up policy" and "create fair competition environment by treating foreign and domestic funds as the same", the State Council, China�s cabinet, said in a statement late Thursday after a meeting hosted by Premier Li Keqiang.Foreign direct investment in China is estimated to reach 785 billion yuan (now $113 billion) this year, China�s Ministry of Commerce said Monday, lower than the total of $135.6 billion last year.The EU Chamber of Commerce in China has complained of an "unequal investment landscape" in the country and called for it to drop widescale prohibitions on foreign investment.China will allow foreign firms to operate fully-owned subsidiaries, rather than joint ventures, in sectors including rail transportation equipment and motorcycles, the statement said.It will also let them enter fields including auditing and architectural design for the first time.Foreign companies will be given the same treatment as Chinese firms in terms of capital required to set up shops, products purchased by the government, and preferential policies for high-tech enterprises, it added.Beijing has repeatedly pledged to make its economy more responsive to market forces.But China ranked 84th globally -- behind Saudi Arabia and Ukraine -- in the World Bank�s ease of doing business index for 2016, and second to last in an OECD report on restrictiveness towards foreign investment.The country is trying to stem capital outflows with its yuan currency falling and its vast foreign exchange reserves dropping eight percent from January to November.
 Oil prices rose in early Asian trade on Friday shrugging off a second consecutive week of U.S. crude oil inventory builds, with a U.S. Energy Information Administration (EIA) report late on Thursday indicating an unexpected rise in crude stocks.</strongU.S. benchmark West Texas intermediate (WTI) crude futures were up 18 cents or 0.33 percent to $53.95 at 0105 GMT after settling 29 cents lower at $53.77 per barrel in the previous session.Brent front-month March crude oil futures were 12 cents a barrel or 0.21 percent higher at $56.97.Crude inventories were up 614,000 barrels in the week to Dec. 23, the EIA data showed, compared with analysts' expectations for a decrease of 2.1 million barrel.Despite the unexpected rise in crude stocks, the EIA data published on Thursday showed a significantly smaller rise in crude stocks compared with Wednesday's American Petroleum Institute (API) data that indicated a 4.2 million barrel build in U.S. crude oil stocks in the same period."Today's Department of Energy report was positive for light products due to draws in gasoline and distillate inventories compared to consensus' build expectations," British bank Barclays said in a note.Gasoline stocks fell 1.6 million barrels, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel rise.The market is likely to have focussed on the surprise draw in product stocks and taken on a slightly more bullish view towards the WTI contract, traders said.Oil prices will gradually rise towards $60 per barrel by the end of 2017, a Reuters poll showed on Thursday, with further upside capped by a strong dollar, a likely recovery in U.S. oil output and possible non-compliance by OPEC with agreed cuts.
 Pakistan�s annual inflation rate eased to 3.70 percent in December from 3.81 percent in November, the Bureau of Statistics said on Monday.</strongOn a month-on-month basis, prices decreased by 0.68 percent in December compared with November, the bureau said.Average inflation for the July-December period stood at 3.88 percent, compared with the same period last year.The steepest rise in year-on-year prices was seen in the prices of gram flour, pulse gram and besan.The steepest drop in year-on-year prices was in the price of onions, tomatoes and chicken.
 President Hassan Rouhani sought to reassure Iranians on Sunday that the government would work to protect market stability after the country's currency fell to a record low last week.</strong"I am optimistic about the country's economic situation and ... I want to reassure our people that foreign currencies will not keep going up," Rouhani said in a live interview with state television.Iran's rial hit a record low against the U.S. dollar last Monday in a sign of concern about the country's ability to attract foreign money after U.S. President-elect Donald Trump takes office on Jan. 20.If the rial's weakness continues, it could become a political issue ahead of Iran's presidential election in May by threatening some of Rouhani's economic achievements. Rouhani, who took office in 2013, is expected to seek re-election but has not announced it officially.Economists have said Trump's election in November was a major factor in the rial's weakness. He has said he will scrap the deal between Iran and world powers that imposed curbs on Tehran's nuclear projects and lifted sanctions on the Iranian economy last January."The dollar has gained against all currencies in the past few months and it is natural if it also gains in Iran. But the rate of exchange of foreign currencies will certainly not remain at current levels," Rouhani said, without giving details of how the government plans to defend the rial."The stability of (currency) markets is important for the government. The economy has to be predictable so that exporters and importers can act with trust," he said.Before Rouhani's remarks, the rial strengthened to about 39,000 to the dollar on the free market on Sunday, after sliding to an all-time low of 41,500 last Monday.The rial's gains came after central bank Governor Valiollah Seif told state television on Saturday that he saw 36,000 rials per dollar as a "realistic" rate.Seif was quoted as telling lawmakers that the central bank was injecting $5.8 billion in the market to defend the rial.The currency traded at 35,570 in mid-September. Before December, the record low was about 40,000, hit in late 2012, traders said.Rouhani's administration stabilized the currency after years of volatility, which helped bring inflation down to single-digit rates from above 40 percent.Besides the free market exchange rate, Iran uses an official rate, now at 32,375, for some state transactions.
 China has begun its first freight train service to London from Yiwu, a famed wholesale market town in the eastern province of Zhejiang, the Xinhua news agency reported.</strongThe train will travel for 18 days over more than 7,500 miles (12,000 km) to reach Britain from China, Xinhua said. It will pass through Kazakhstan, Russia, Belarus, Poland, Germany, Belgium and France before arriving in London.Former British Prime Minister David Cameron raised some eyebrows with allies by pitching Britain as the pre-eminent gateway to the West for investment from China and proposing to make London the main international trading centre for offshore yuan.Prime Minister Theresa May has said the relationship with China remains "golden" as she seeks to bring in billions of dollars in Chinese investment as Britain prepares to leave the European Union.
 Kazakhstan said Tuesday it had lifted visa requirements for citizens of the European Union, OECD countries and a number of other states in a bid to boost investment and tourism.</strongThe move, which follows a similar measure by neighbouring Uzbekistan, comes as Central Asia�s largest economy has been battered by low oil prices and financial distress in neighbouring Russia.The foreign ministry in Astana said that starting January 1, citizens of EU and OECD countries, as well as Malaysia, Monaco, the United Arab Emirates and Singapore, could travel to Kazakhstan for up to 30 days without a visa.The initiative was meant to "promote an even more favourable investment climate" and "develop the country�s tourism potential", the ministry said in a statement."The move will open up additional opportunities to the business community for cooperation with the outside world and facilitate international contacts in different spheres".The visa requirements for other countries have also been eased, it added.Kazakhstan�s landscape is dotted with mountains, lakes and desert, and the glitzy capital Astana is home to futuristic architecture.Neighbouring Uzbekistan last month announced plans to roll back its highly restrictive tourism regime by cancelling visa requirements for 15 countries.That move followed the election of interim leader Shavkat Mirziyoyev, who succeeded to the late strongman Islam Karimov.
 Iran has published a list of 29 major companies from Europe and Asia approved to bid for oil and gas projects after the lifting of sanctions over its nuclear programme.</strongThe European companies on the list include Anglo-Dutch giant Shell, Italy�s ENI, France�s Total, Russia�s Gazprom and Lukoil, and Schlumberger of the Netherlands.Among those from Asia were China�s CNPC and Sinopec International, the Japanese Mitsubishi Corporation and Japan Petroleum Exploration, Malaysia�s Petronas, and South Korea�s Korea Gas Corporation and Posco Daewoo.The National Iranian Oil Company is to offer tenders for exploration and production projects at oil and gas fields in the country, the oil ministry�s news service Shana reported Tuesday.The list of 29 companies that qualified was announced after foreign firms deemed "qualified and credible" were invited to take part in the process, it said.Its release comes nearly one year since the entry into force of the deal with world powers which lifted international sanctions on Iran in return for limits on its nuclear programme.A flurry of preliminary agreements has already been signed with international companies.In November, Total signed a preliminary agreement for a $4.8 billion (4.3 billion euro) project to develop an offshore gas field at South Pars.In mid-December, Tehran signed a memorandum of understanding with Russia�s Gazprom on the development of two major oil fields.Also last month, Iran signed three MoUs with Shell to study the feasibility of developing major oil and gas fields.
 Pakistan's stock market has outperformed the Indian equity market with a huge gap since the beginning of the new century. <br/> <br/> Over the past 16 years, the MSCI Pakistan index climbed over 14 per cent in dollar terms on a compounded annual growth (CAGR) basis, while the MSCI India index has advanced 8.39 per cent annually during the same period, data available with Bloomberg showed.The KSE100 index of the Karachi Stock Exchange rallied 2,625 per cent from 1,772 in January 2000 to around 48,300 in December 2016, while the Sensex of the BSE advanced 431 per cent in this period. <br/> <br/> KSE100 tracks the performance of biggest companies by market capitalisation from each sector of the Pakistani economy listed on bourses. <br/> <br/> On the hand, the 30-share Sensex jumped from 5,005 in December 1999 to 26,626 on December 30, 2016.Among other emerging markets, the Chinese equity indices have underperformed both Indian and Pakistani equity markets since the year 2000. China's Shanghai Composite index advanced 120 per cent to 3,103 till December 2016 from 1,406, where it was trading at in January 2000. <br/> <br/> According to a Forbes report, published in September 2016, Pakistan is a frontier economy rather than an emerging�.��
 China plans to spend 800 billion yuan ($115.09 billion) on building railways this year, the same budget as last year, to grow its network to 150,000 kilometers, state news agency Xinhua reported on Wednesday.</strongChina plans to add 2,100 kilometres of track this year, mostly in its central and western regions, and electrify 4,000 kilometres of railways, Xinhua reported, citing a statement released by national operator China Railway Corporation after an annual work conference.The country, which had set an annual spending target of 800 billion yuan for the last three years, used 801.5 billion yuan on railway construction in 2016, according to local media reports citing the national operator. It plans to spend 3.5 trillion yuan on building railway tracks over 2016-2020, Xinhua said.Railway spending was at a high of 840 billion yuan in 2010 before a high-speed rail crash that led to the arrest of numerous officials on corruption charges and the breakup of the railway ministry.In recent months, the government sped up approvals of construction projects including railways to support slowing economic growth, adding to China Railway's debt burden which stood at 4.21 trillion yuan at the end of June.
 BMW Group announced Wednesday it would deploy 40 self-driving vehicles for tests in the United States and Europe.The German auto group made the announcement at the Consumer Electronics Show in Las Vegas jointly with US computer chip giant Intel and the Israeli-based auto technology firm Mobileye."Making autonomous driving a reality for our customers is the shared ambition behind our cooperation with Intel and Mobileye," said BMW board member Klaus Froehlich in a statement, who said the tests would be a major step toward achieving a fully autonomous vehicle by 2021."This partnership has all of the skills and talent necessary to overcome the enormous technological challenges ahead and commercialize self-driving vehicles. Therefore, we are already thinking in terms of scalability and welcome other companies -- manufacturers, suppliers or technology companies - to participate and contribute to our autonomous platform."The companies said they plan to begin testing by the end of this year, joining autonomous vehicles from Google�s Waymo, Uber and others being used in real-traffic situations.BMW Group will be responsible for driving control, safety and the production of the car platform.Intel will offer its Intel Go computing platform that uses a variety of sensors and other data to power the brains of the car.Mobileye will be using its proprietary EyeQ5 computer vision processor which gets input from the 360-degree surround view sensors as well as localization."From an industry perspective, we are already seeing savings and speed in development by sharing development costs and in pooling resources to develop a complete autonomous platform," Intel chief executive Brian Krzanich said."That�s why this partnership is breaking new ground. We have established a dedicated team with clear, shared goals and a culture of innovation and agility and accountability."<br/> 
 The Economic Coordination Committee (ECC) of the cabinet Friday approved exemptions from withholding tax beyond 6 percent of E&amp;M contract price and from tax duties on import of equipment to be installed for the Lahore Orange Line Metro Train Project.</strongThe summary to this effect was sent to ECC by the Planning Development and Reform Division.The meeting of the ECC was chaired by the Federal Minister for Finance Senator Mohammad Ishaq Dar here.The ECC also decided that a similar dispensation would also be extended to the other rail based mass transit projects in Karachi, Peshawar and Quetta at the appropriate time.The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China Pakistan Economic Corridor (CPEC) along with rail based mass transit projects in other provincial capitals at the recently concluded 6th Joint Cooperation Committee (JCC) meeting held in Beijing, China.
 Sri Lanka earned a record $3.5 billion from tourism in 2016, seven years after the end of a devastating civil war, a government minister said.</strongBut sources in the industry warned that the post-war boom could be short-lived as planned airport closures forced the cancellation of international flights.Tourism on the Indian Ocean island suffered heavily during a decades-long civil war that ended in 2009, but has been recovering in recent years.Tourism minister John Amaratunga said Sri Lanka had 2.05 million arrivals in 2016, short of its target of 2.2 million but still the best the island has ever recorded.The minister said he hoped for a further rise in 2017, but industry figures warned tourism could fall by 30 percent, hit by the daytime closure of the Colombo international airport for three months for a runway upgrade."The drop will be because of the partial airport closure and (national carrier) Sri Lankan stopping direct flights to France and Germany," a senior tourism official told AFP.International airlines have reduced flights to Colombo during the airport refurbishment that is expected to continue until April.Sri Lanka�s loss-making national carrier Sri Lankan has said it will lose $50 million as a result of flight cancellations.Tourists have long been attracted to Sri Lanka for its golden beaches, cultural sites and picturesque tea plantations.Authorities say tourism has also been boosted by improvements in the island�s international reputation for human rights following the ousting two years ago of former president Mahinda Rajapakse, widely criticised for suppressing dissent.
�Commerce Minister Khurram Dastgir has proposed formation of Joint Trade Committee and Business to Business Conference with Britain to boost bilateral trade.</strongHe gave the suggestion during a meeting with a high level British delegation led by Parliamentary under Secretary of State for Foreign and Commonwealth Alok Sharma.Khurram Dastgir said Pakistan will provide full support to the British companies interested in invest in different CPEC projects.
 China�s foreign exchange reserves fell by $320 billion last year, Beijing announced Saturday, as authorities sought to support the yuan against a soaring dollar which is encouraging capital outflows.</strongThe country�s vast foreign exchange reserves, the largest in the world, slipped to $3.011 trillion at the end of December, the State Administration of Foreign Exchange (SAFE) said on its website.In December the forex reserves dropped by $41 billion from the previous month, SAFE said, which would make it their sixth consecutive monthly decline according to figures from the central People�s Bank of China.Reserves had slipped by $46 billion in October and nearly $70 billion in November, falling to levels last seen more than five years ago."The central bank�s efforts to stabilise the yuan are the main reason why the reserves have fallen," last year, said an official of the State Administration of Foreign Exchange.The yuan is now trading at its lowest level in eight years against the dollar after dropping about seven percent in the space of a year, as Beijing sells greenbacks to support its currency.At the same time, a persistently sluggish domestic economy is encouraging a flight of funds in search of more remunerative investments abroad.Aware of the danger, China has tightened its measures to stop the outflow of capital, in particular by restricting many investments abroad considered doubtful.
 Iran is to take possession of the first aircraft this week in a huge order from Airbus placed after the lifting of international sanctions, state carrier Iran Air said Sunday.</strong"This aircraft has received its certificate of registration and an Iran Air team is in place to take delivery of it," the airline�s chief executive officer, Farhad Parvaresh, told the Fars news agency."We hope to take delivery between now and the end of the week."Iran Air completed the huge deal for 100 Airbus planes with a list price of around $20 billion (19 billion euros) on December 22.Iran had committed to the agreement during a visit to Paris by President Hassan Rouhani last January shortly after international sanctions were lifted under a landmark nuclear deal between Iran and world powers.But it required approval from Washington as some parts are manufactured in the United States.The jets will bolster Iran�s ageing passenger fleet with the addition of 46 A320 planes for medium-haul routes, 38 long-haul A330s and 16 A350s.In another deal last month, Iran Air finalised an order for 80 planes from Airbus�s US competitor Boeing.Boeing said that contract -- Iran�s first deal with a US aviation firm since the 1979 Islamic revolution -- was worth $16.6 billion.
 As Pakistan slowly emerges from a long-term power crisis, its once booming textile sector is scrambling to find its feet -- but high energy costs and a decade lost to competitors mean recovery is far from assured.</strongEnergy production was severely depressed for more than 10 years due to chronic under-investment, inefficiencies in the power network and an inability to collect sufficient revenue to cover costs.The result was crippling for manufacturers and in particular the textile sector, which employs 30 percent of the working population.Pakistan is the world�s fourth largest cotton producing country but interminable power and gas cuts have stopped exporters from producing their orders on time.Many have watched helplessly as their clients have instead turned to Vietnam or Bangladesh.A third of the production capacity of the sector has disappeared, thousands of factories have closed, and most of the others are running below full capacity, says Rehan Bharara, a former loom owner who now runs a public infrastructure project for the textile industry.Half the time, "we had to run our factories on diesel generators, which was very expensive. We decided to close down rather than losing money every day," he said.Only those manufacturers which invested heavily in their own energy production survived.These include plants run by the Sadaqat company, which provides house linen to major Western retailers such as Debenhams, Tesco and Target. Energy supply to huge printing, cutting and sewing departments is rotated according to need."We have three sources of electricity: the main and cheapest one is generation through gas, if we don�t have gas, we go to Wapda (the public utility), if Wapda closes, we go to diesel generators," says chairman Mukhtar Ahmed."I have no choice. If I stop producing, we lose our customers."Smaller plants, notably the hundreds of thousands of cotton loom workshops, lack backup generators and are dependent on the public network.- "No power, no wages" -Each time the power cuts, work is interrupted."We loom workers only get paid if there is power and looms are running. If there is no power, there are no wages," said Mohammad Rizwan, a 21-year-old weaver.The government has promised to end power cuts by 2018, and said industry would be prioritised.In the past few weeks, the biggest manufacturers in Faislabad have been supplied without interruption."The key is that they give us 24 hours of electricity a day," said Wahid Raamay, chairman of the Council of Loom Owners in Faisalabad.Despite these important advancements, textiles are not yet out of danger. As the country�s electricity supply has improved, natural gas imports bills have gone up with the increased cost passed down to consumers.Bharara estimates the cost of electricity has doubled over eight years, from six rupees per kilowatt/hour to 11.That�s still much lower than 26 rupees per kilowatt hour for electricity produced by a diesel generator, but more than costs in competing countries."At this time we are struggling to give competitive power," admits Muhammad Salim Bhatti, general manager of the city�s power distribution company. "Over time, we will become cheaper as new power plants will be more efficient", he hopes. "We�ll be in a position to compete."But the Asian Development Bank is less optimistic, citing the opaqueness of large-scale Chinese investment in the country�s energy infrastructure."The power due to be produced by Chinese-built power plants is expected to be expensive" it said, though it anticipates it will still be cheaper than the thermal plants they are set to replace.In late December, Pakistan�s fourth nuclear power plant went online, built with Chinese assistance as part of Islamabad�s plans to produce 8,800 MW from atomic energy by 2030.Total exports, meanwhile, 60 percent of which are made up by textiles, declined by 13 percent in the first nine months of this year compared to last, a sign that the industry�s recovery is yet to begin.
 US fast-food giant McDonald�s will sell a controlling stake in its mainland China and Hong Kong franchise business to a consortium of Citic Group and the Carlyle Group for up to $2.08 billion, the companies said Monday.</strongCitic Limited, Citic Capital Holdings, Carlyle Group and McDonald�s will form a company that will act as the franchisee responsible for the chain�s business in mainland China and Hong Kong for 20 years, the companies said in a joint statement.Citic and Citic Capital will have a stake of 52 percent, Carlyle will take 28 percent, and McDonald�s will hold 20 percent of the new company.The burger chain announced its plan to sell its roughly 2,000 restaurants in China last year, after its sales took a hit as tensions in the South China Sea impacted US companies� results in the country.Its business in the country also suffered a hit in 2014 after a food safety scandal involving one of its meat suppliers.The new company will focus on growth in China�s smaller, regional cities, and will plan to open more than 1,500 restaurants in the mainland and Hong Kong over the next five years.Citic, a vast conglomerate with interests in businesses from energy and manufacturing to real estate, said in a statement to the Hong Kong stock exchange that the purchase would deepen its exposure to China�s consumer sector, "which is poised to be the main driver of China�s economy for decades to come".
 President Xi Jinping this month will become the first Chinese head of state to attend the World Economic Forum (WEF) in Davos, which this year will dwell on the rising public anger with globalisation and the coming U.S. presidency of Donald Trump.</strongXi will take centre stage at the Jan. 17-20 forum with China presenting itself as a champion of globalisation.The Chinese Foreign Ministry on Tuesday confirmed Xi's widely expected attendance at the annual gathering of global political leaders, CEOs and celebrities in the Swiss Alps.Davos will end just as Trump takes office, having won the White House in part with promises to pull the United States out of international trade deals and hike tariffs against China and Mexico in a protectionist campaign he says will help bring back industries and jobs to America.WEF executive chairman Klaus Schwab said he expected Xi to show how China would take a "responsive and responsible leadership role" in global affairs at a turning point in history, with the world needing new concepts to face the future."Every simplified approach to deal with the complex global agenda is condemned to fail. We cannot have just populist solutions," Schwab told a news conference in Geneva, referring to the rising anti-globalisation tide epitomized by Trump's victory and Britain's vote last year to exit the European Union.The Chinese president will be in Switzerland from Jan. 15-18 for a state visit and to attend the Davos meeting, Foreign Ministry spokesman Lu Kang told a regular press briefing.He will also visit the United Nations offices in Geneva, and the offices of the World Health Organization and the International Olympic Committee, Lu said.Other global leaders, including WEF regular German Chancellor Angela Merkel and Canadian Prime Minister Justin Trudeau, will not be in Davos this year.European Commission President Jean-Claude Juncker was also absent from the line-up published on Tuesday, but there were many presidents, prime ministers and central bankers among the 3,000 participants, along with 1,800 executives from 1,000 companies.The United States will be represented by Vice President Joe Biden and Secretary of State John Kerry, days before they leave office, and "someone from the transition team representing the new (Trump) administration", Schwab said.Xi led a forum of Asia-Pacific leaders in Peru in November in vowing to fight protectionism, just days after Trump won the U.S. election having pledged to pull out of the 12-nation Trans-Pacific Partnership (TPP) trade deal.Foreign businesses in China, however, have long complained about a lack of market access and protectionist Chinese policies. These include a Made in China 2025 plan that calls for a progressive increase in domestic components in sectors such as advanced information technology and robotics.
 Sindh Chief Minister Syed Murad Ali Shah has directed Sindh Revenue Board (SRB) to take necessary measures to bring in the services of insurances in sales tax net.</strongThis he said while presiding over a meeting with Chairman SRB Khalid Mahmood here at the CM House on Tuesday. Secretary Finance Secretary Hassan Naqvi was also present.Murad Ali Shah discussed various issues relating to Sindh Revenue Board and Sindh Sales Tax on Services, including the issues of sales tax on the services of life insurance, health insurance, restaurants, etc.Appreciating the performance of Sindh Revenue Board, the chief minister emphasized the need of making relentless efforts to achieve the assigned target of Rs 78 billion for the current financial year. On this, Chairman SRB Khalid Mahmood said that the SRB has surpassed its six months target by 21 percent.
 The World Bank has revised Pakistan�s growth rate upward to 5.2 percent for fiscal year 2017 and 5.5 percent for 2018.</strongThe bank previously estimated growth in Gross Domestic Product (GDP) of Pakistan 5 percent and 5.4 percent respectively.The report �Global Economic Prospects; weak investment in uncertain times,� states that the uptake in activity was spurred by a combination of low commodity prices, rising infrastructure spending and reforms that lifted domestic demand and improved the business climate.In Pakistan, growth is forecast to accelerate from 5.5 percent in fiscal year 2018 to 5.8 percent a year in fiscal year2019-20, reflecting improvements in agriculture infrastructure energy and external demand.The report further mentioned the successful conclusion of Special Drawing Rights (SDR) 4.393 billion IMF Extended Fund Facility (EFF) programme aimed at supporting reforms and reducing fiscal and external sector vulnerabilities, lifted consumer and investor confidence.The China Pakistan Economic Corridor (CPEC) project will increase investment in the medium term and alleviate transportation bottlenecks and electricity shortages.
 World food prices fell for a fifth straight year in 2016 as losses in cereals, meat and dairy outweighed rises in sugar and vegetable oils, the United Nations food agency said on Thursday.</strongPrices remained stable in December from the month before, according to the Food and Agriculture Organization's (FAO) main food price index, which has edged up steadily after hitting a seven-year low in January.The full year 2016 logged a 1.5 percent annual drop in the index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar.December's reading of 171.8 points versus 171.9 points in November resulted from strong gains in vegetable oils and dairy largely offsetting falls in sugar and meat, the FAO said.Sugar prices rose by about a third across the year, despite an 8.6 percent dip in December that mainly stemmed from a weaker Brazilian real against the dollar and an expected jump in production in Brazil's main sugarcane-growing region."Economic uncertainties, including movements in exchange rates, are likely to influence food markets even more ... this year," FAO senior economist Abdolreza Abbassian said.Cereal prices steadily declined during the year, ending 39 percent below their 2011 peak.Vegetable oil prices reached their highest since July 2014 in December. Palm oil rose on low global inventory levels and tight supplies, while soy oil quotations were boosted by the prospect of rising use for biodiesel in North and South America.
 �Pakistan's largest ever trade exhibition opened at Bandaranaike Memorial International Conference Hall (BMICH) on Friday.</strongThe Trade Development Authority of Pakistan (TDAP) in collaboration with High Commission of Pakistan in Sri Lanka organized 2nd edition of Pakistan Single Country Exhibition that is jointly opened.According to the Pakistan High Commission, High Commissioner Maj.�Gen.�(R) Syed Shakeel Hussain along with Chief Guest Minister for Sports Dayasiri Jayasekera, Minister for Plantation Industries Navin Dissanayake, Minister for Parliamentary Reforms and Mass Media Gayantha Karunathilaka, Minister for Law &amp; Order and Southern Development Sagala Ratnayake �inaugurated the Pakistan Single Country Exhibition 2017.Expo is featuring leading Pakistani companies and manufacturers of Engineering Products, Auto Parts, Agro Products, Textile &amp; Clothing, Designer Wear, Handicraft &amp; Traditional Textiles, Pharmaceuticals, Cutlery Furniture, Carpets Marble and Services.Addressing the inaugural ceremony the High Commissioner of Pakistan Maj.Gen.�(R) Syed Shakeel Hussain informed the audience that the exhibition was launched last year with a view to make it an annual event that should work as a catalyst for synergizing deeper economic relations between the two countries.�
 China's massive export engine sputtered for the second year in a row in 2016, with shipments falling in the face of persistently weak global demand and officials voicing fears of a trade war with the United States that is clouding the outlook for 2017.</strongIn one week, China's leaders will see if President-elect Donald Trump makes good on a campaign pledge to brand Beijing a currency manipulator on his first day in office, and starts to follow up on a threat to slap high tariffs on Chinese goods.Even if the Trump administration takes no concrete action immediately, analysts say the specter of deteriorating U.S.-China trade and political ties is likely to weigh on the confidence of exporters and investors worldwide.The world's largest trading nation posted gloomy data on Friday, with 2016 exports falling 7.7 percent and imports down 5.5 percent. The export drop was the second annual decline in a row and the worst since the depths of the global crisis in 2009.It will be tough for foreign trade to improve this year, especially if the inauguration of Trump and other major political changes limit the growth of China's exports due to greater protectionist measures, the country's customs agency said on Friday."The trend of anti-globalization is becoming increasingly evident, and China is the biggest victim of this trend," customs spokesman Huang Songping told reporters."We will pay close attention to foreign trade policy after Trump is inaugurated president,� Huang said. Trump will be sworn in on Jan. 20.China's trade surplus with the United States was $366 billion in 2015, according to U.S. customs data, which Trump could seize on in a bid to bring Beijing to the negotiating table to press for concessions, economists at Bank of America Merrill Lynch said in a recent research note.A sustained trade surplus of more than $20 billion against the United States is one of three criteria used by the U.S. Treasury to designate another country as a currency manipulator.China is likely to point out that its own data showed the surplus fell to $250.79 billion in 2016 from $260.91 billion in 2015, but that may get short shrift in Washington."Our worry is that Trump�s stance towards China�s trade could bring about long-term structural weakness in China�s exports," economists at ANZ said in a note."Trump�s trade policy will likely motivate U.S. businesses to move their manufacturing facilities away from China, although the latter�s efforts in promoting high-end manufacturing may offset part of the loss."On Wednesday, China may have set off a warning shot to the Trump administration. Beijing announced even higher anti-dumping duties on imports of certain animal feed from the United States than it proposed last year."Instead of caving in and trying to prepare voluntary export restraints like Japan did with their auto exports back in the 1980s, we believe China would start by strongly protesting against the labeling with the IMF, but not to initiate more aggressive retaliation ... immediately," the BofA Merrill Lynch Global Research report said."That said, even a 'war of words' could weaken investor confidence not only in the U.S. and China, but globally."CHINA'S DECEMBER EXPORTS FALLChina's December exports fell by a more-than-expected 6.1 percent on-year, while imports beat forecasts slightly, growing 3.1 percent on its strong demand for commodities which has helped buoy global resources prices.An unexpected 0.1 percent rise in shipments in November, while scant, had raised hopes that China was catching up to an export improvement being seen in some other Asian economies.China reported a trade surplus of $40.82 billion for December, versus November's $44.61 billion.While the export picture has been grim all year, with shipments rising in only two months out of 12, import trends have been more encouraging of late, pointing to a pick-up in domestic demand as companies brought in more raw materials from iron ore to copper to help feed a construction boom.China imported record amounts of crude oil, iron ore, copper and soybeans in 2016, plus large volumes of coal used for heating and in steelmaking."Trade protectionism is on the rise but China is relying more on domestic demand," said Wen Bin, an economist at Minsheng Bank in Beijing.Prolonged weakness in exports has forced China's government to rely on higher spending and massive bank lending to boost the economy, at the risk of adding to a huge pile of debt which some analysts warn is nearing danger levels.Data next Friday is expected to almost certainly show that 2016 economic growth hit Beijing's target of 6.5-7 percent thanks to that flurry of stimulus.But signs are mounting that the red-hot property market may have peaked, meaning China may have less appetite this year for imports of building-related materials."It is hard to see what could drive a more substantial recovery in Chinese trade," Julian Evans-Pritchard, China Economist at Capital Economics, wrote in a note."Further upside to economic activity, both in China and abroad, is probably now limited given declines in trend growth. Instead, the risks to trade lie to the downside...," he said, saying the chance of a damaging China-U.S. trade spat has risen since Trump's appointment of hardliners to lead trade policy.A decline in China's trade surplus in 2016, to just under $510 billion from $594 billion in 2015, may also reduce authorities' ability to offset capital outflow pressures, which have helped drive its yuan currency to more than eight-year lows, ANZ economists said.
 The United States is set to issue a commemorative $100 gold coin that depicts Lady Liberty -- a national symbol generally portrayed as a white woman -- as an African American for the first time.</strongThe 24-karat gold piece will be released in honor of the United States Mint�s 225th anniversary, one of a series of coins that will feature a racially diverse array of Lady Liberties.The coins will "depict an allegorical Liberty in a variety of contemporary forms -- including designs representing Asian-Americans, Hispanic-Americans and Indian-Americans among others," the Mint said in a statement released Thursday.The Mint said it is issuing the coins to "reflect the cultural and ethnic diversity of the United States."The new coin will be released on April 6 featuring the bust of a distinctly African-American Liberty, with a crown of gold stars.Underneath appear the words "In God we trust" and the dates 2017 and 1792, the year Congress created the Mint.The coin�s flip side features another potent US symbol, an eagle in flight."Our founding fathers realized the critical need for our fledgling nation to have a respected monetary system, and over the last 225 years, the Mint has never failed in its mission," said Rhett Jeppson, the Mint�s principal deputy director.In another move to diversify the mostly white male cast of statesmen featured on American currency, the onetime slave-turned-abolitionist Harriet Tubman was named as the new face of the $20 banknote last April, the first time an African American was picked to feature on US currency.An open poll of more than 600,000 people strongly favored Tubman, a hero to African Americans for her escape from slavery in Maryland in 1849 to help run the legendary Underground Railroad that enabled thousands of slaves to flee to freedom in the 19th century.
 Advisor to Prime Minister on Foreign Affairs, Sartaj Aziz has invited businessmen of Oman to invest in Pakistan and take advantage of business friendly environment due to improved security situation resulting from successful counterterrorism campaign in the country.Dr Yahya Mahfoodh Salim Al-Manthri, President of State Council of Oman along with a high level parliamentary delegation from Oman Friday called on Sartaj Aziz.Welcoming the Omani delegation, Sartaj Aziz praised the sagacious leadership of Sultan Qaboos and appreciated Oman�s contribution to regional peace and stability.He recalled his successful visit to Oman in September 2016 and noted that regular high level exchanges were reflective of warm and brotherly bilateral relations.Commonalities of religion, geographical proximity and shared perceptions on regional and global issues provided a strong foundation for further strengthening existing cooperation.Dr Yahya Mahfoodh Salim Al-Manthri appreciated traditionally close and friendly relations between Pakistan and Oman.He praised Pakistan�s achievements in countering the threat of terrorism which had contributed to peace and stability in the region.Both sides noted with satisfaction that the Joint Economic Council would soon be elevated to ministerial level to take bilateral cooperation in economic trade and investment relation to a new level.They welcomed more frequent and substantive parliamentary interactions between the two sides as means to promote people-to-people contacts and enhance mutual understanding.
 The federal government has announced hike in prices of petrol by Rs1.77 per litre and High Speed Diesel (HSD) by Rs2 per litre, for the next fortnight.</strongAddressing a news conference in Islamabad, Finance Minister Ishaq Dar said that the prices of light diesel oil and kerosene will remain intact from tomorrow till 31st of this month.He said the price of petrol will be increased by one rupee and seventy seven paisa per liter and high speed diesel oil by two rupees per liter.He said the government treasury will bear the burden of 2.75 billion rupees as subsidy for this period on petroleum products.The minister said that the OGRA had proposed Rs14.31 increase in kerosene oil, Rs10.11 increase in light diesel oil, Rs3.94 increase in HSD and Rs1.77 increase in petrol.Ishaq Dar said that the prime minister has directed to provide maximum relief to the general public. He said the prices of petrol and high speed diesel oil have been increased due to 43 percent increase in prices of crude oil and petroleum products in the international market.
 Just eight individuals, all men, own as much wealth as the poorest half of the world's population, Oxfam said on Monday in a report calling for action to curtail rewards for those at the top.</strongAs decision makers and many of the super-rich gather for this week's World Economic Forum (WEF) annual meeting in Davos, the charity's report suggests the wealth gap is wider than ever, with new data for China and India indicating that the poorest half of the world owns less than previously estimated.Oxfam, which described the gap as "obscene", said if the new data had been available before, it would have shown that in 2016 nine people owned the same as the 3.6 billion who make up the poorest half of humanity, rather than 62 estimated at the time.In 2010, by comparison, it took the combined assets of the 43 richest people to equal the wealth of the poorest 50 percent, according to the latest calculations.Inequality has moved up the agenda in recent years, with the head of the International Monetary Fund and the Pope among those warning of its corrosive effects, while resentment of elites has helped fuel an upsurge in populist politics.Concern about the issue was highlighted again in the WEF's own global risks report last week."We see a lot of hand-wringing - and clearly Trump's victory and Brexit gives that new impetus this year - but there is a lack of concrete alternatives to business as usual," said Max Lawson, Oxfam's head of policy."There are different ways of running capitalism that could be much, much more beneficial to the majority of people."strong>SUPER-CHARGED CAPITALISM</strongOxfam called in its report for a crackdown on tax dodging and a shift away from "super-charged" shareholder capitalism that pays out disproportionately to the rich.While many workers struggle with stagnating incomes, the wealth of the super-rich has increased by an average of 11 percent a year since 2009.Bill Gates, the world's richest man who is a regular at Davos, has seen his fortune rise by 50 percent or $25 billion since announcing plans to leave Microsoft in 2006, despite his efforts to give much of it away.While Gates exemplifies how outsized wealth can be recycled to help the poor, Oxfam believes such "big philanthropy" does not address the fundamental problem."If billionaires choose to give their money away then that is a good thing. But inequality matters and you cannot have a system where billionaires are systematically paying lower rates of tax than their secretary or cleaner," Lawson said.Oxfam bases its calculations on data from Swiss bank Credit Suisse and Forbes. The eight individuals named in the report are Gates, Inditex founder Amancio Ortega, veteran investor Warren Buffett, Mexico's Carlos Slim, Amazon boss Jeff Bezos, Facebook's Mark Zuckerberg, Oracle's Larry Ellison and former New York City mayor Michael Bloomberg.
 The board of Privatization Commission on Tuesday approved leasing out Pakistan Steel Mills (PSM), Geo News reported.</strongMuhammad Zubair, chairman Privatization Commission presided over the meeting of the board here Tuesday.Speaking to Geo TV, Zubair said, �the final decision of leasing out PSM will be taken by Cabinet Committee on Privatization.�The meeting of the cabinet committee will be held next Monday, where the summary on leasing out PSM will be shared.Also, the privatization committee approved to sell out 5 percent shares of Oil and Gas Development Company (OGDCL) through the local stock market.
 Pakistan economy is all set to�grow further during current year due to government's�pro-growth policies as indicated in the bulking of its�economic indicators.</strongAccording to a report carried by a section of press, Pakistan continued its march from being a frontier�economy to becoming an emerging market. It said 2017 may be the best�year in the country's 70-year-long history.These changes are likely to take place from increase in�foreign investment to the auto industry.Although gross domestic product (GDP) growth forecasts�by International Monetary Fund, World Bank and others may vary��but Pakistan's GDP is likely to grow by 4.7 per cent this�year.The annual GDP may increase from $270 billion to around�$300 billion and for the first time, the Purchasing Power�Parity may cross the $1 trillion mark, it added.It said Pakistan is currently 40th largest economy in the world and its ranking may improve by a point or two.The report further said Pakistan would enter MSCI's�Emerging Markets category in May, meaning larger amounts would inflow. The MSCI is a leading provider of international�investment decision support tools.In 2016, Pakistan Stock Exchange (PSX) provided 46 per�cent returns. KSE-100 benchmark index is also likely to cross�55,000 points from current nearly 48,000 points.Forty per cent stakes in PSX will go to Chinese�consortium and this is likely to bring large institutional�investors from other countries.The report further said more large shopping malls would�be built or become operational across major urban centres.�Superstore chains will open new stores in unprecedented�three-digit numbers.The Foreign Direct Investment in the current year might�cross the $1-billion mark. The remittances may pick up to�reach $20billion mark.Inflation may remain between four and five per cent as�low oil prices are expected to stay stable whereas finance�sector will increase focus on financial inclusion, generating�opportunities for micro-finance and commercial banks.Pakistan, at 144 out of 190 countries, was among top 10�global improves in World Bank's 2017 Doing Business rankings.�In the 2018 ranking, it will improve further.<br/>The report said Pakistan may need additional 100,000�� trucks to meet the China Pakistan Economic Corridor (CPEC)�related material and freight transport needs.Demand for locally manufactured new and imported used�cars will continue to rise with interest from Volkswagen, Kia,�Renault and Nissan for manufacturing plants in Pakistan, it�added.
 The Chief Executive Officer of eBay,�Devin Wenig encouraged Pakistanis to use the e-commerce site.</strongIn a Facebook Live session at the World Economic Forum (WEF), Devin Wenig said eBay did not have a local Pakistani version, however, there were customers shopping from the country on various eBay sites."Anywhere where wealth is growing and technology is being adopted, e-commerce is growing like crazy," he said. These are�one of the fastest growing markets we have around the world," he said.�He said that South East Asia, Eastern Europe and Latin America were places where eBay was particularly focused since there were people who were growing in wealth but didn't have access to goods. Hence, people made use of eBay to gain access to these goods.�With regard to the benefits of e-commerce, Wenig claimed that eBay�helped millions of entrepreneurs sell their goods to a global consumer base.�"In the era before tech, you could only sell around your block and how do you market or get your product sold? In the world of tech, you plug into eBay and you're a global business," he said. ��Regarding Davos, Wenig stated that he felt this year at Davos was comparatively a bit negative and there was some concern about the rising nationalism and populism. However, he stated that he was an optimistic person and it was wonderful how people from around the globe to help make the world a better place.���
 Chairman Alibaba Group Jack Ma Wednesday evinced keen interest in investing in Pakistan and to build an e-Commerce platform to further promote online business ventures.</strongThe Chairman met Prime Minister Nawaz Sharif in Davos on the sidelines of the 47th World Economic Forum�s annual meeting.Jack Ma said his country had a lot of interest in investing in Pakistan as they had closely followed positive economic developments in the country.He said China Pakistan Economic Corridor (CPEC) had provided immense opportunities for the region and added it would generate lots of economic activity.Prime Minister Nawaz Sharif invited Jack Ma to visit Pakistan at the earliest opportunity.Jack Ma accepted the invitation and invited the Prime Minister to visit his company�s hub at Ghuangzou.Ma said that 60 million companies worldwide were benefiting at the moment.To benefit developing countries he planned to invest in small and medium enterprises.Alibaba is a Chinese e-commerce company that provides consumer-to-consumer business to consumer and business-to-business sales services via web portals.It also provides electronic payment services, a shopping search engine and data centric cloud computing services.The group began in 1999 when Jack Ma founded the website Alibaba.com a business-to-business portal to connect Chinese manufacturers with overseas buyers.
 OPEC oil production fell in December but remains well above levels envisaged under a recent deal due to take effect from January, the cartel�s new monthly report showed Wednesday.</strongTotal output by the Organization of the Petroleum Exporting Countries fell 221,000 barrels per day (bpd) to 33.1 million bpd from November, the December report showed, citing secondary sources.Under the landmark November 30 deal, aimed at reducing a global supply glut that depressed oil prices, OPEC is meant to slash its output ceiling to 32.5 million bpd, effective January 1.Kingpin Saudi Arabia bore the brunt of the cut in December, lowering output by 149,000 bpd to 10.5 million bpd. Algeria, Ecuador, Gabon, Nigeria, Qatar, UAE and Venezuela also reduced production.However Iraq, OPEC�s second biggest producer, ramped up output by 43,000 bpd to 4.6 million bpd. Iran�s rose 10,000 bpd to 3.7 million bpd and Kuwait by 2,000 bpd to 2.8 million bpd.Under the deal, Saudi Arabia is to cut production to 10.1 million bpd, Iraq to 4.4 million bpd, Kuwait to 2.7 million bpd and UAE to 2.9 million bpd, according to OPEC.Iran, able to export crude freely again following the lifting of sanctions under a 2015 nuclear deal with major powers, can ramp up output to 3.8 million bpd.Libya and Nigeria are exempt from the accord, while Indonesia has suspended its membership.On December 10, OPEC also struck an agreement with countries outside the group, most notably Russia but not the United States, for them to reduce production by 558,000 bpd.On Sunday a monitoring committee charged with tracking adherence to that deal is due to meet in Vienna for the first time.Both deals boosted oil prices by around 20 percent to above $50 per barrel, but gains have been capped by unease about implementation and rising US shale production thanks to the higher prices.Both agreements are valid for six months and are extendable for another six months.Saudi Arabia�s Energy Minister Khaled al-Falih said Monday it was "unlikely" that an extension would be necessary, pointing to a pick-up in global demand.
 Prime Minister Nawaz Sharif Wednesday said his government had achieved economic stability and turned around the country�s economy in a short span of three years.</strongHe was talking to the Group Chief Executive Officer of VimpelCom, Jean Charlie here on the sidelines of the 47th World Economic Forum�s annual meeting.The prime minister said his government was pursuing a comprehensive reforms agenda, besides successfully delivering on the major challenges of terrorism, economy and power shortages.Jean Charlie said he was seeking public private partnership for working with the government on education and skills development programmes.He said his company was planning to launch new products in Pakistan as the country had come to the forefront as the largest emerging market.Jean lauded the investment environment in Pakistan and said it was very attractive for foreign investors.Later talking to APP Jean Charlie said he was very excited about the future of Pakistan that had undergone a major transformation in the past few years.He said the expansion of services would also be beneficial for Pakistan. He termed the government policies as best and said his company would use Pakistan as the hub to support its global telecom business.VimpleCom is an Amsterdam based international telecommunications and technology business development over 200 million customers around the world. It has invested $ 1 billion in Pakistan�s telecom sector by the merger of Mobilink with Warid.
 The first China-to-Britain freight train arrived in London on Wednesday after a 7,500-mile journey, marking a milestone in China's push to build commercial links across Europe and Asia.</strongThe train pulled in to Barking, east London after an 18-day journey from Yiwu, a wholesale market town in the eastern Chinese province of Zhejiang.It had passed through Kazakhstan, Russia, Belarus, Poland, Germany, Belgium and France, finally crossing under the English Channel into Britain.The consignment would have taken nearly twice as long to reach Britain by sea.The train brought in a cargo of small commodities including household items, clothes, fabrics, bags, and suitcases.Run by Yiwu Timex Industrial Investment, the Yiwu-London freight service makes London the 15th European city to have a direct rail link with China after the 2013 unveiling of the "One Belt, One Road" initiative by Chinese premier Xi Jinping.Carsten Pottharst, managing director of Switzerland-based InterRail Group, the train�s operator, said he hoped there would be more such runs between China and Britain."This moment was important to show that we can run the train in less than 18 days to the UK," he said. "It depends also on how much cargo we can get from the UK to China - if we can manage to get more trains eastbound, then there could be more."Oscar Lin, general manager at OTT Logistics, the local UK booking office for the train, said there had been good interest in the service."This is the first train for a test � we want to know what�s the reaction of the UK market," he said. "But we�ve already received a lot of enquiries ... 50 or 60 in just two weeks, without any marketing."Prime Minister Theresa May has said the relationship with China remains "golden" as she seeks to bring in billions of dollars in Chinese investment as Britain prepares to leave the European Union.
 Most major stock indices posted gains on Wednesday while Wall Street appeared to have little steam, with the vaunted Dow finishing lower for a fourth straight trading session.The US dollar recovered against its major peers after taking a battering the previous day, while the pound fell back having surged on the UK�s Brexit plans.New December economic data in the United States, including an uptick in industrial production and gains in consumer prices, failed to move investors in any direction.Chris Low of FTN Financial said investors were likely waiting to see what they can learn from Friday�s inaugural address by President-elect Donald Trump, who has not so far provided any specifics about an anticipated economic stimulus package."It seems to be pretty sleepy," he said of the US stock market.The Dow Jones Industrial Average fell 0.1 percent while Frankfurt saw strong gains and London, which had been moving in opposite directions from the pound, rose 0.4 percent, recouping some of the previous day�s losses following Prime Minister Theresa May said she was readying Britain to leave the EU�s single market."We view the move in the British pound following the Prime Minister�s speech as a game-changer and as such don�t anticipate a near-term resumption of the record winning streak for the FTSE 100," he said.Paris posted a slight loss at the close.The greenback�s recovery came after a sharp fall Tuesday following comments from the US president-elect in an interview that it was too strong and that a weak Chinese yuan was "killing us," fueling concerns of a possible currency war.The Dollar Index, which measures the dollar�s value against basket of peers, stood at 101.230, up sharply from 100.330 on Tuesday.In Asia, Hong Kong rallied 1.1 percent, boosted by a flood of mainland Chinese investors picking up stocks considered cheap compared with those north of the border, while a pick-up in the yuan eased fears about the mainland economy.Oil slipped after OPEC reported that its output inched lower in December but not by as much as the cartel promised in a landmark production cut deal reached the previous month.
 The share purchase agreement of Pakistan Stock Exchange�s (PSX) equity stake with Chinese consortium has been signed today.</strongFinance Minister Senator Ishaq Dar Friday witnessed the signing ceremony.The landmark agreement was signed by PSX Divestment Committee Chairman Shahzad Chamdia and the chief executive officers of the Chinese exchanges forming the consortium.The Chinese consortium, qualified as the best bidder for the purchase of 40 percent shares of PSX brokers, includes China Financial Futures Exchanges, Shenzen Stock Exchange and Shanghai Stock Exchange, and two local companies Pakistan China Investment Company Limited and Habib Bank Limited.Other prominent figures present on the occasion were Chinese Ambassador to Pakistan Sun Weidong; CEO of China Futures Exchanges, Hu Zheng; Shenzen Stock Exchange CEO, Wang Jianjun; Governor, State Bank of Pakistan, Ashraf Mahmood Wathra; PSX Chairman Muneer Kamal; PSX Managing Director Nadeem Naqvi; Chairman, Securities and Exchange Commission of Pakistan, Zaffar-ul-Haq Hijazi; CEO, Trade Development Authority of Pakistan, S.M.Muneer; President, Federation of Pakistan Chambers of Commerce and Industry, Zubair F.Tufail.The Finance Minister, Chairman PSX, Chairman SECP, Governor SBP, Chinese Ambassador to Pakistan, CEOs of Chinese Exchanges were unanimous to note that the agreement would strengthen not only Pakistani market but also regional markets. This would also help in making the China-Pakistan Economic Corridor (CPEC) more fruitful.The PSX Chairman said after demutalisation of Pakistan Exchanges, it was mandatory to sell 40 percent of PSX shares to strategic partners, adding that they found the best strategic partners.
 Energy ministers from OPEC and non-OPEC countries meeting in Vienna on Sunday have struck a positive note regarding their agreement to cut oil output as a committee set to monitor compliance with the deal meets for the first time.</strong"I am satisfied, I am optimistic and, as I said, the markets are on their way to rebalance and it's happening," Saudi energy minister Khalid al-Falih said.Compliance with the agreement, which calls for cuts to begin this month, had been "fantastic", he said.Kuwaiti oil minister Essam Al-Marzouq, who chairs the five-member compliance committee, said it would examine how to best monitor compliance and what level of compliance would be acceptable.The other members of the committee represent Algeria, Venezuela, Russia and Oman.A deal reached on Dec. 10 between members of the Organization of the Petroleum Exporting Countries and non-OPEC producers marked the first such pact since 2001.Under it, producers will lower output by nearly 1.8 million barrels per day (bpd) aiming to ease a global glut that has weighed on oil prices for more than two years."Usually non-OPEC would raise their production to compensate for voluntary cuts by OPEC. Now, we are seeing voluntary cuts by both sides," Fail said.Some 1.5 million bpd in crude production had already been taken out of the market, he said last week."The other 300,000 bpd, for all I know, is still happening," Falih said on Sunday, adding he hoped for 100 percent compliance in February.Venezuela has achieved more than half of its planned 95,000 bpd cut, Oil Minister Nelson Martinez told reporters.Full compliance could take global oil inventories back close to their five-year average by mid-2017, lowering oil in storage by around 300 million barrels, Falih said."[There are] no surprises so far in terms of demand or supply from other sources so there is no reason for us to suddenly come in January and say we need a bigger reduction or a longer period," he said.Saudi Arabia is producing slightly below 10 million bpd and has informed buyers of Saudi crude of substantial cuts scheduled for next month, he said.Russian Energy Minister Alexander Novak on Sunday also said he was satisfied with the level of compliance shown.Russia has cut its oil output by around 100,000 bpd, Novak told Russia's TASS news agency. Novak added Russian oil production has averaged around 11.15 million bpd this month.In his opening speech to the Vienna meeting, Novak said many countries had lowered their oil output by more than they had agreed to.He said Russia was lowering its production ahead of schedule.He told reporters that oil output cuts had been positive for markets, adding it was too early to talk about extending the output-reduction deal beyond the planned six months but that remained an option."Every one sees that the agreements on oil production cuts have already have a positive effect on oil markets. The market has become more stable and predictable."
 The dollar retreated against most of its peers Monday, with warnings of wild volatility ahead as Donald Trump began his presidency promising to put America first and hitting out at global trade deals.</strongWhile trading floors are ravaged by uncertainty over the tycoon�s plans, shares in most Asian markets rose following a positive lead from Wall Street, though Japan�s Nikkei tanked as the greenback slipped against the yen.Trump�s inauguration speech Friday continued his campaign rhetoric, saying "every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families".On Sunday he vowed to start renegotiating the North American Free-Trade Agreement during upcoming talks with Mexico and Canada."Markets are now waiting for more evidence that Donald Trump will deliver on fiscal stimulus and deregulation," Shane Oliver, Sydney-based global investment strategist at AMP Capital Investors, told Bloomberg News."Shares remain vulnerable to a further correction or consolidation in the next month or so."But the dollar -- which soared in November and December on expectation Trump�s big-spending, tax-cutting, deregulation plans would fan inflation -- continued to struggle in January.In afternoon trade Monday it bought 113.40 yen, well down from 114.60 yen Friday and more than four percent down from the highs touched late in December. It was also well down against the euro and pound despite ongoing concerns about Britain�s exit from the European Union.strong>- �Volatile times� -</strong"I suspect we�re entering extremely volatile times for the dollar," Stephen Innes, senior trader at OANDA, said in a note."There remains a high level of uncertainty about the new administration�s dollar policies, especially following President Trump�s recent remarks on the strong dollar directed at China."Trump last week said the greenback was too strong against China�s yuan and claimed this was "killing" the US economy.The stronger yen dragged down exporters on Tokyo�s Nikkei, which ended 1.3 percent lower. Takata collapsed again, diving nearly 18 percent on fears of a drawn-out bankruptcy restructuring for the airbag maker at the centre of the biggest-ever auto safety recall.The embattled stock, which has lost more than half its market value in a week, fell by its daily limit, extending a losing streak to a sixth session.Sydney shed 0.8 percent but Hong Kong rose 0.1 percent while Shanghai closed up 0.4 percent.Seoul was marginally higher with Samsung surging more than two percent as it looked to put its exploding Galaxy Note 7 crisis behind it by announcing the problem was down to a faulty battery.Singapore added 0.3 percent. Taipei surged one percent ahead of a week-long Lunar New Year holiday and there were also healthy gains in Manila and Bangkok.In early European trade London, Paris and Frankfurt each fell 0.7 percent.strong>- Key figures at 0800 GMT -</strongTokyo - Nikkei 225: DOWN 1.3 percent at 18,891.03 (close)Shanghai - Composite: UP 0.4 percent at 3,136.77 (close)Hong Kong - Hang Seng: UP 0.1 percent at 22,898.52 (close)London - FTSE 100: DOWN 0.7 percent at 7,151.35Euro/dollar: UP at $1.0746 from $1.0699Pound/dollar: UP at $1.2450 from $1.2368Dollar/yen: DOWN at 113.40 yen from 114.60 yenOil - West Texas Intermediate: DOWN six cents at $53.16 per barrelOil - Brent North Sea: DOWN two cents at $55.47New York - Dow: UP 0.5 percent at 19,827.25 (close)
 A consignment of seven new modern locomotives have reached Karachi from the United States to reinforce Pakistan Railways� existing fleet.</strong�Pakistan will receive a total of 55 locomotives in different phases from the US. The remaining 48 are expected to be handed over to the Pakistan Railways by June 2017,� official sources in the Ministry of Railways told APP Monday.Commenting on specifications of the locomotives, they said these were 4,000 Horsepower modern diesel locomotives of General Electric with 676 mm gauge and fully assembled. The 137 tonne six-axle locomotives are designed for a maximum speed of 120 km per hour, and are expected to provide better fuel efficiency and longer maintenance intervals than Pakistan Railways� current fleet.The locomotives, with each one has 12-cylinder of 563 horse power engine, would help cope with the harsh operating conditions in Pakistan, having additional cooling capacity and an air-conditioned cab suitable for bidirectional operation.This is ever first consignment of evolution series locomotives to anywhere South Asia, which Pakistan has received ever first time, they added.According to the contract, they said USA based Corys Electric Company has to supply a full-scope simulator for driver training.They said the locomotives would be used for transporting the imported coal from Karachi�s Port Qasim to Sahiwal Power Plant in Punjab and Jamshoro Power Plant in Sindh.In 2015, they said that Pakistan Railways had signed an agreement with USA for provision of 55 General Electric diesel locomotives, out of which 40 would be used to haul imported coal from Karachi to the Sahiwal and Jamshoro power stations and 15 in general freight services.
 Pakistan Stock Exchange witnessed bullish trend on second consecutive day, on Tuesday at the start of the business as 100 index crossed the level of 50 thousand points with 174 points increase in hundred index.�</strongThe market had closed at 49876 points yesterday which at the start of the business reached to the highest level of fifty thousand fifty (50,050) points on Tuesday morning.�This increasing trend of investment in stock exchange is being deemed as good omen for national economy by business.Economic expert Muhammad Sohail while talking to local media expressed that the news regarding the historic uphill trend in country�s stock market was definitely amazing.
 India on Wednesday signed a deal with the United Arab Emirates, allowing the Gulf nation to fill the country's strategic storage facility in southern India.</strongIndia in 2014 began talks to lease part of its strategic storage to Abu Dhabi National Oil Co (ADNOC). Under such a deal, India would have first rights to the stored crude in case of an emergency, while ADNOC would be able to move cargoes to meet any shift in demand.The deal was signed by India's oil minister Dharmendra Pradhan and a representative of ADNOC after a meeting between Prime Minister Narendra Modi and UAE's Crown Prince Sheikh Mohamed bin Zayed al-Nahyan."Our energy partnership is an important bridge in our linkages. It contributes to our energy security," Modi said. The two sides had discussed ways to advance their energy ties through specific projects, he added."In this regard, long-term supply contracts and establishment of joint ventures in energy sectors can be beneficial," Modi said.The prince will be the guest of honour at India's Republic Day parade on Thursday, in a warming of ties.
 Taiwan�s economy notched up its best performance in almost two years in the final quarter of 2016, with strong demand for electronics offsetting a plunge in mainland tourists, according to official data released Wednesday.Growth was 2.58 percent year-on-year in the September-December period, the fastest expansion since the first-quarter of 2015 when the economy grew 4.01 percent.It was the third consecutive quarter of growth since Taiwan came out of recession in April-June last year.Traditionally an export-driven technology hub, the island is home to industry giants such as Foxconn and Taiwan Semiconductor Manufacturing Company (TSMC) -- key suppliers for Apple�s iPhone.President Tsai Ing-wen is pushing for Taiwan to foster its own "Asian Silicon Valley" as one of her five initiatives to kickstart the economy.The statistics bureau said exports in the quarter increased 11.73 percent -- the most in five years -- driven by a boom in demand for electronics parts.TSMC also announced earlier this month better-than-expected earnings in the same period thanks to the launch of the iPhone 7 series."Production of electronic components continue to increase, driven by the expansion of smart technology product applications," the Directorate-General of Budget, Accounting and Statistics said in a statement Wednesday.However, growth has been dampened by slowing tourism from mainland China, that saw a drop of 40.39 percent in the fourth quarter.The number of Chinese visitors has fallen since Beijing-sceptic Tsai was elected last January, with speculation China is turning off the taps as a means of pressure on the Taiwanese leader.Local tourism operators who once catered to droves of mainland tourists complain of half-empty hotels and tour buses sitting idle.While tourism to Taiwan from other countries rose 17.47 percent in the fourth quarter, overall visitor numbers still declined 3.99 percent.Analysts are also concerned about whether the strong export demand will continue. <br/> "With weak global demand set to drag on exports and limited scope for more policy support, the recovery is likely to run out of steam soon," Capital Economics economist Gareth Leather said, according to Bloomberg News.Wednesday�s release brings 2016 full-year growth to 1.4 percent, beating the government�s estimate of 1.35 percent.It is forecasting economic growth of 1.87 percent in 2017.
 The newly appointed Chief Executive Officer of the World Bank, Kristalina Georgieva, will hold discussion on the Indus Waters Treaty with Pakistani and Indian officials during her first country visits to South Asia beginning on Thursday.</strongGeorgieva will be in Pakistan on Thursday on the first leg, and will visit India in the coming weeks to learn about Bank operations and development challenges as well as to discuss issues facing India and Pakistan with the Indus Waters Treaty, the World Bank said on Wednesday.The World Bank had brokered the treaty and is a signatory along with Pakistan and India. All the three parties are in discussions about how to resolve disagreements over the interpretation of the treaty�s provisions in the context of India�s construction of two hydroelectric power plants.�India and Pakistan are important partners and clients of the World Bank Group. We have longstanding relationships in support of their goals to improve education, create jobs, transform their energy sectors, and improve people�s lives,� said Georgieva.�I look forward to meeting leaders from both countries to gain a deeper understanding of their development goals as well as to fully appreciate all perspectives related to the Indus Waters Treaty,� she added.This week, Georgieva, who started her new job on January 2, will meet the senior leadership of Pakistan to discuss how best to support the country in making the most of its economic potential, according to a statement from the World Bank. She will also be visiting project sites and talking with people benefiting from the World Bank�s support.The World Bank in December announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their differences, in line with the spirit of the treaty.Georgieva is accompanied by Annette Dixon, Vice President for the South Asia Region of the World Bank.The Bank delivered 50 projects totaling $8.8 billion in the 2016 financial year (ending June 30), as a whole in South Asia, including $5.1 billion of International Development Association commitments, of which $225 million went to the IDA Scale-up Facility and $3.6 billion in loans from the International Bank for Reconstruction and Development (IBRD).Lending included such transformational operations as the $1.5 billion Swachh Bharat Mission Support Operation, which seeks to end open defecation in India; and a $920 million package of IDA and IBRD funding that supports competitiveness and structural reform in Pakistan.
 A trade accord that will boost global exports by $1 trillion should come into force within two weeks, the head of the World Trade Organization said on Thursday, just as the rhetoric of U.S. President Donald Trump clouds the outlook for global trade.</strongThe Trade Facilitation Agreement (TFA) will have a major impact on poorer countries, because it standardises and simplifies customs procedures, slashing the time, cost and complexity of taking goods over borders."In the WTO's history, it is the biggest agreement we ever reached," WTO Director-General Roberto Azevedo told Reuters in an interview.Jordan, Chad and Kuwait are all poised to ratify, which would tip the agreement over the required mark of 110 WTO members to take effect, Azevedo said."There are estimates that once fully implemented, this could have an impact of around 2.7 percentage points on trade expansion throughout the world every year until say 2030, and half a percentage point of GDP growth around the world."Where a product may previously have taken 6-7 weeks to arrive, the waiting time should be cut to a few days."Things are going to cross the border much more easily, much more transparently and at lower costs," Azevedo said."If it�s truly implemented and done well, there will be almost no contact between the client and the (customs) authority," Azevedo said. "When that happens the room for corruption basically disappears. And we know that at the border, corruption is a problem for many countries."The United States, European Union, China and Japan were among the early adopters, although big and rich countries have less to gain since their customs procedures are already at high levels.Asked if the deal was the high point of global trade liberalisation, the veteran Brazilian trade negotiator said there was still a "rich agenda" of potential trade reforms, including for investment, services and small business.Azevedo said it was too early to tell whether the new U.S. administration would be on board with those reforms, adding that much of what was being said about Trump's plans for trade was speculation inferred from his previous comments.Trump has advocated an "America first" stance, and talked of introducing border taxes to stop manufacturing jobs going to Mexico or China, prompting fears of a trade war between major economic blocs.strong>"VERY BAD SCENARIO"</strongAzevedo said there could be an increase in trade disputes, and the WTO was ready to handle them."A lot of concerns I�ve heard in recent political debates in the United States can be addressed by tools that we have here in the WTO."But a trade war that involved ignoring the rules-based system would be a "very bad scenario".The outlook for world trade growth was hard to foresee because of conflicting signals, Azevedo said, with some people worried about a trade war and others anticipating an accelerating U.S. economy and improving business environment.The WTO is also an important arena for Britain's discussions about its exit from the European Union, because the EU looks after Britain's rights and obligations as a trading entity at the WTO. Britain must disentangle itself so it can negotiate as a separate entity at the WTO."I suppose, from what I hear, that it is going to take a couple of years, at least. At that point in time they will begin to negotiate with WTO members," Azevedo said.Asked if that might interfere with Britain's plan to leave the EU in two years, he said: �Timing is not in my hands. It�s in members� hands � and the political decision to initiate things.�Britain could start to negotiate with WTO members sooner, Azevedo said, but he had not heard of such negotiations and he had not been approached to facilitate anything.
 Iran's monthly oil exports are set to climb slightly in February, as Indonesia takes its first shipment since sanctions on Tehran were lifted last year, a person with knowledge of Iran's tanker loading schedule said.</strongVolumes remain below last September's high, however, suggesting that Iran has had difficulty finding more buyers for its oil, even after being exempt from production cuts agreed by the Organization of the Petroleum Exporting Countries (OPEC) and other exporters last November.Traders had expected it to raise output slightly and boost exports to reclaim market share.Crude and condensate exports for February will be just over 2.20 million barrels per day (bpd), up from 2.16 million bpd this month, which is the lowest rate since July, the person said. Exports rose to as high as nearly 2.6 million bpd in September.While crude and condensate exports have slipped, Iran is planning to significantly boost oil product exports this year as it refurbishes refineries, said Abbas Kazemi, Iran's deputy minister of petroleum and president of its national oil refining company NIORDIC."In 2017 I see about 600,000 barrels per day of oil product exports. That is the plan," Kazemi told Reuters at an oil conference in Tokyo on Thursday.Products will include fuel oil, gasoil and kerosene, he said.Crude oil loadings for Asia, where Iran's biggest customers are located, are set to rise to a three-month high of nearly 1.5 million bpd in February. Loadings for January, meanwhile, have been running a little above 1.46 million bpd.Indonesia is expected to lift nearly 34,000 bpd in February, according to the source.Exports to Europe are set to total a little more than 610,000 bpd in January and nearly 590,000 in February, compared with a high of almost 800,000 bpd in December, the most since the sanctions were lifted.The Netherlands is lifting its first crude and loading nearly 70,000 bpd this month, according to the source. It earlier bought condensate from Iran.That ties in with information from oil trading and shipping sources who told Reuters that two Iranian-owned oil tankers are sailing to Rotterdam, the heart of northern Europe's refining and trading hub.The development shows Iran breaking through yet another barrier in its bid to regain oil market share lost during years of international sanctions that hindered its sale of crude oil and condensates to the international market.Iran had been ramping up shipments of oil on foreign owned tankers since restrictions on ship insurance were eased last April. They will be eased further from next month.In the last month supertankers owned by Greek and Croatian owners have hauled Iranian crude from Kharg Island to Spain, Italy and Thailand according to ship tracking data on the Reuters Eikon terminal.Italy is loading about 32,000 bpd in January and nearly 110,000 bpd in February, while Spain is loading a similar amount in January and just above 70,000 bpd in February."Italy and Spain used to be quite enthusiastic buyers of Iranian crude ... In 2011 they were accounting for respectively 7 and 6 percent of Iranian oil exports," said Ralph Leszczynski, head of research at ship broker Banchero Costa in Singapore.
 The State Bank of Pakistan decided to maintain the interest rate at 5.75 percent, it announced on Saturday.</strongAddressing a press conference to announce the monetary policy for the upcoming two months, Governor State Bank of Pakistan Ashraf Mahmood Wathra stated that the interest rate would remain unchanged at 5.75 percent.Wahtra said during the press conference that Pakistan's energy situation had improved. He also said that Pakistan's economy had nothing to fear from the surging prices of oil. Wahtra claimed that the situation with regard to private sector's loans had improved.The Governor State Bank further said that an increase had been recorded in income which should be taken positively."Production capabilities of the country will improve," he said.He said that the government did not get Coalition Support which caused hardships.
 The dollar tumbled against its major peers in Asia on Monday while regional markets sank in holiday-thinned trade as dealers were spooked by tensions caused by Donald Trump�s divisive immigration ban.</strongA disappointing reading on US economic growth added to the downbeat sentiment with Wall Street ending last week on a negative note.The reality TV star-turned-president on Friday signed an executive order banning travellers from seven Muslim-majority countries that was met with widespread outrage from world leaders and mass global protests."The main focus over the weekend has been Trump�s immigration policy and it won�t necessarily surprise to see some heat coming out of the dollar in early trading," said Chris Weston, Melbourne-based chief market strategist at IG Ltd."Whether the markets start to price in a stronger Trump risk premium is yet to be seen," he told Bloomberg News.In early trade Monday the dollar fell to 114.60 yen from 115.06 yen, while the euro rose to $1.0721 from $1.0696 and the pound climbed to $1.2570 from $1.2549.strong>- �Global backlash� -</strong"Chat in the market is dominated by the global backlash to Donald Trump�s executive order and any potential impact this could have in markets," Greg McKenna, chief market strategist at FX and CFD provider AxiTrader, said in a note.However, analysts said markets have shown resilience despite a series of controversial moves by Trump in his first week in office, including a row with Mexico over trade and his proposed border wall, rows with the media over his inauguration crowds and unsupported assertions that millions of people voted illegally in the 2016 election.This was put down to hopes he will stick to his promise to ramp up infrastructure spending, cut taxes and slash red tape to boost economic growth and corporate profits.Eyes are now on the Friday release of US jobs data for January, which comes a week after figures showing US growth reached a sluggish 1.9 percent in October-December, well below the 3.5 percent in the third-quarter and below expectations.The weak figures helped dampen sentiment on Wall Street, where the Dow edged lower Friday, at the end of a week in which it broke 20,000 points for the first time.The tepid lead from New York filtered through to Asia, where Tokyo ended down 0.5 percent, while Sydney shed 0.9 percent and Wellington gave up 0.7 percent.Hong Kong, Shanghai, Seoul, Singapore, Kuala Lumpur and Taipei were closed for the Lunar New Year holiday.strong>- Key figures around 0600 GMT -</strongTokyo - Nikkei 225: DOWN 0.5 percent at 19,368.85 (close)Sydney - S&amp;P/ASX 200: DOWN 0.9 percent at 5,661.50 (close)Hong Kong - Hang Seng: ClosedShanghai - Composite: ClosedEuro/dollar: UP at $1.0721 from $1.0696Pound/dollar: UP at $1.2570 from $1.2549Dollar/yen: DOWN at 114.60 yen from 115.06 yenOil - West Texas Intermediate: DOWN 22 cents at $52.95 per barrelOil - Brent North Sea: DOWN 25 cents at $55.27New York - Dow: DOWN 7.13 points at 20,093.78 (close)London - FTSE 100: UP 0.3 percent at 7,184.49 (close)
 The federal government, on the recommendations of Oil and Gas Regulatory Authority (Ogra), has announced hike in the prices of various petroleum products, the second time in a month.</strongOn January 15, the government had increased prices of petrol by Rs1.77 per litre and High Speed Diesel (HSD) by Rs2 per litre.On Tuesday, Federal Minister for Finance announced the hike in the prices of petroleum products. The new prices will be applicable from February 01.Petrol price has been increased by Rs 2.25 per litre and High Speed Diesel by Rs 2.26 per litre.The Minister said the new prices have been fixed for next 15 days.He said prices of Kerosene and light speed diesel will remain unchanged.Dar added that due to little increase, government would still provide a subsidy of Rs 4 billions on the petroleum products.
 Many American businesses are publicly breaking with President Donald Trump over his anti-immigration policies, saying they could damage competitiveness by limiting access to the best and brightest employees.Criticism of Trump�s order has been most virulent in Silicon Valley, where chiefs of tech firms Apple, Microsoft, Airbnb and Google were among those to blast the policy, unveiled late Friday, which prohibits people from seven predominantly Muslim countries from entering the United States, and includes a temporary ban on refugees.Protests erupted at airports nationwide over the weekend, while lawsuits led to judges blocking parts of the order, which initially prevented some legal US residents from returning home.Netflix CEO Reed Hastings called the policies "un-American."Executives outside of the technology industry have joined in pointing out the perils of the immigration policies as well, although they are more cautious about provoking the administration, which is expected to pursue favored policies such as tax cuts and regulatory relief.Any criticism could trigger blowback from Trump, who has frequently lambasted individual companies, including Ford, General Motors, Toyota, Boeing and Lockheed.<br/> <br/> Company chiefs, in messages to employees, have emphasized the importance of a diverse workforce and promised to support employees.JPMorgan Chase CEO Jamie Dimon, who is on a council of corporate chief executives tasked with advising Trump on job growth, promised "unwavering commitment" to staff in a statement.Goldman and JPMorgan have vast international businesses that advise and provide financing to foreign governments, multinationals and private individuals.Boston-based General Electric, whose chief executive Jeff Immelt, also sits on a Trump business advisory board, came out against the policy."We have many employees from the named countries and we do business all over the region," Immelt said. "We stand with them and will work with the US Administration to strive to find the balance between the need for security and the movement of law abiding people."Last week, Iraq signed a billion-dollar deal with GE for the construction of two power plants. But the Iraqi government has criticized Trump for targeting the country in the ban, and parliament urged the government to retaliate against Americans entering the country if Washington refuses reconsider.GM, which Trump has criticized for building cars in Mexico, sent a statement to all employees on Sunday saying a few are from countries affected by the order, and pledging to provide support to any worker who encounters difficulty while traveling.Stressing that it welcomes individuals of all races, nationality, gender, culture or sexual orientation, GM said, "Empowering these unique perspectives keeps GM on the cutting edge of technological innovation in the fast-paced automotive industry."And Ford, which also has sparred with Trump over its Mexican operations, criticized the immigration policy, saying the company is "proud of the rich diversity" of workers."That is why we do not support this policy or any other that goes against our values as a company."The US Chamber of Commerce said the policy is creating confusion for companies with employees who are legal residents or dual nationals.
 The global CEO of FrieslandCampina Roelof Joosten and Chairman Engro Corporation Hussain Dawood called on Prime Minister Nawaz Sharif where they jointly discussed possible opportunities to develop the dairy industry in the country through knowledge transfer and provision of nutritious value-added products amongst others.</strongThe Global CEO along with Hussain Dawood highlighted the need to explore partnership opportunities with the government to bring the local dairy industry at par with international standards and contribute to Pakistan�s dairy sector�s development.Speaking on the occasion, PM Nawaz said, �We believe this transaction will be instrumental in positioning Pakistan as an attractive investment destination for global companies and encourage others to follow. I am hopeful that this partnership will allow the Pakistani population to enjoy a wider array of affordable, high quality dairy products for a healthier Pakistan.��Improving the wellbeing of millions of our farmers is a cause that Pakistan has been focused on since its inception. I am convinced that this partnership will create tremendous long term value for our dairy farmers".In December 2016 Engro Corporation (ECORP) entered into an agreement with FrieslandCampina for the sale of 51 percent of the Company's shareholding in Engro Foods (EFOODS) in one of the single largest private sector Foreign Direct Investment (FDI) in Pakistan amounting to a total investment of USD 450 million (430 million Euros).
 World food prices rose to a near two-year high in January and look set to be higher and more volatile in 2017, the United Nations food agency said on Thursday.</strongFood prices on the Food and Agriculture Organization's (FAO) index have fallen for five straight years due to ample supply, a slowing global economy and a strong U.S. dollar.But in January, the index, which measures monthly price changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 173.8 points, a high not seen since February 2015.The 2.1 percent monthly rise was driven by surges in sugar quotations and export prices for cereals and vegetable oils.FAO Senior Economist Abdolreza Abbassian said outside factors including concerns about U.S. President Donald Trump's trade policy in North America would probably contribute to more volatility in food prices."Uncertainties are going to create problems for international markets, in terms of where Mexico will source its corn, would the current trend continue with its closest (trade) partner, the United States," Abbassian said.Relations between major grain exporters Russia and Ukraine could also have an impact, he said, adding food prices overall were likely to be broadly firmer but more volatile this year than in 2016.A 9.9 percent rise in the price of sugar in January was driven by expectations of protracted tightness in supplies from Brazil, India and Thailand, a trend Abbassian said was likely to continue.FAO raised its forecast for global cereals output in 2016-17 to 2.592 billion tonnes, based primarily on larger-than-expected wheat harvests in Australia and Russia.�
 Karachi, the seashore city of Pakistan having 20 million population, restaurants, hotels, malls, food courts, five star hotels, is the limelight of the foodies citizens.</strongAll the year these restaurants, hotels, food courts and others are full with customers taking huge money from customers� in return of good food products or meals.Senior Director Food Lab Karachi, Javaid Ur Rahim unveiled the truth and said that all the Five ,Four and Three Stars hotels� in Karachi are paying only Rs10 as annual tax or renewal licence fees same as oil and milk manufacturers paying only Rs 25 annual tax than how can we compete with Punjab Food Authority.From last one decade, Food lab is non functional because we don't have enough funds to bear the loses and run the lab, Rahim added.Food Inspector, Zahir khan, working from last 32 years in food lab, said that we are living in 2017 but following 1965 rules that why we are unable to provide good service to the citizens of Karachi.On the other hand our justice system is also very weak when we present any culprit in front of magistrate they put minor fine like Rs 5000 to Rs 10,000 on them that�s why shopkeepers, manufacturers are not taking us seriously because they knew if they are caught they be will released after paying only Rs 10,000, Khan added.In August 2014, Health Department Government of Sindh and Karachi Metropolitan Corporation had revised the licence and renewal fee from Rs 10 to rs 50,000 per year but unfortunately after one year Health Department Government of Sindh had issued another notification on 22nd April 2015 to put embargo on new rates and revised the old rates again, Senior Director Food Javaid Ur Rahim added.Public Analyst Dr Raziudin said that we are not providing our service until we don't have stick laws and proper implantation and atleast enough food inspectors who are catering 20 million people city otherwise it's not possible to rescue the health of citizen.
 Uber Technologies Inc Chief Executive Officer Travis Kalanick quit President Donald Trump's business advisory group on Thursday amid mounting pressure from activists and employees who oppose the administration's immigration policies.</strongCritics included Uber drivers, many of whom are immigrants themselves."Joining the group was not meant to be an endorsement of the president or his agenda but unfortunately it has been misinterpreted to be exactly that," Kalanick, who had planned to attend a meeting of the group on Friday, said in an email to staff that was seen by Reuters.Uber spokeswoman Chelsea Kohler later confirmed that he had left the group.Social media campaigns had targeted Uber, urging users to delete accounts and opt for rival Lyft Inc. Uber has been emailing users who deleted their accounts to say it shares their concerns and will compensate drivers affected by the ban.Kalanick said he spoke briefly to Trump about the immigration order "and its issues for our community" and told the president he would not join the economic council.The CEO came under increasing pressure to leave the council after Trump issued an executive order temporarily barring people from seven Muslim nations from entering the United States."There are many ways we will continue to advocate for just change on immigration but staying on the council was going to get in the way of that. The executive order is hurting many people in communities all across America," he wrote in a note to employees. "Families are being separated, people are stranded overseas and there�s a growing fear the U.S. is no longer a place that welcomes immigrants."The White House said in a statement Thursday evening that did not mention Uber that Trump "understands the importance of an open dialogue with fellow business leaders to discuss how to best make our nation's economy stronger."The move could put pressure on other CEOs expected to attend a meeting with Trump on Friday. General Motors Co said its chief executive would attend, while Walt Disney Co said earlier Thursday its chief executive would not attend because of a long-planned board meeting.Others expected to take part include the CEOs of JPMorgan Chase &amp; Co, Blackstone Group LP, IBM Corp and Wal-Mart Stores Inc. Others that are part of the council include Tesla Inc CEO Elon Musk, PepsiCo Inc CEO Indra Nooyi and Boston Consulting Group CEO Rich Lesser.Musk said he would attend the meeting. "In tomorrow's meeting, I and others will express our objections to the recent executive order on immigration and offer suggestions for changes to the policy," he said in a tweet on Thursday.Kalanick's departure could signal a growing rift between technology companies and Washington."There is a battle brewing between Trump and Silicon Valley," said Neeraj Agrawal, general partner at Battery Ventures. "They (the Trump administration) clearly don't value the economic activity generated by tech."Microsoft Corp on Thursday said it proposed a modification of Trump's travel limits.Technology companies including Microsoft, Google owner Alphabet Inc, Apple Inc and Amazon.com Inc have opposed Trump�s order, arguing that they rely on workers from around the world.Amazon and Expedia Inc have filed court documents supporting a legal challenge to the order by the Washington state attorney general.
 China is disappointed at the continued high U.S. tax rates on Chinese steel products and will take the necessary steps to protect the rights of its enterprises, an official at the Ministry of Commerce said on Saturday.</strongChina also called into question the way in which the U.S. anti-dumping investigation is being conducted, Wang Hejun, head of the trade remedy and investigation bureau at the Ministry of Commerce, said in a statement on the ministry's website."In the anti-dumping probe, investigating departments disregarded the cooperation of the Chinese government and Chinese enterprises," Wang said.Earlier this week, the United States moved closer to slapping duties on imports of stainless steel sheet and strip from China, issuing a final determination that the products were being subsidized and dumped in the U.S. market at below fair value.The U.S. Commerce Department said it affirmed anti-dumping duties ranging from 63.86 percent to 76.64 percent on the imports.The duties will go into effect for five years if the U.S. International Trade Commision subsequently affirms its earlier finding that U.S. producers were being harmed. The commission is due to make its final determination on or about March 20.
 Morocco�s government on Monday warned the European Union that its failure to fully implement an agriculture deal with Rabat would have severe consequences and could spur illegal migration.The North African nation and the European Union signed in 2012 a multi-million-euro fishing and agriculture trade agreement.Two years later the deal was quashed by a European court after a challenge from the Polisario Front which seeks independence for the disputed territory of Western Sahara.But the EU�s top court of justice overturned that verdict in December 2016, setting the stage for the reinstatement of the agreement although the ruling did not say so explicitly.Morocco�s agriculture and fisheries ministry said in a statement Monday that the last ruling "in all logic confirms the (2012) trade protocol which must be fully implemented".Failure to do so would affect "thousands of jobs" both in Morocco and in Europe.Furthermore it could spur "a new flow of migration" towards Europe and place the continent "at risk" and would force Morocco to make a "decisive choice", the statement said, without elaborating.The warning comes days after EU leaders held a summit in Malta for talks that also focused on how to deal with a feared upsurge of migrant smuggling, including from Africa.Although most migrants from sub-Saharan African seeking a new life in Europe have been travelling through chaos-riddled Libya, others have managed in recent years to enter Spain from Morocco.Spain has two enclaves in North Africa -- Ceuta and Melilla -- surrounded by hi-tech border fences that are regularly stormed by migrants. Many have died tried to climb them, some shot by Moroccan forces.Other migrants, most of them from sub-Saharan Africa, take to rickety boats to try to cross the narrow stretch of sea between Morocco and Spain�s southern tip.According to the International Organization for Migration, 13,246 migrants arrived in Spain last year, more than 8,100 of whom came by sea.
 China�s first homegrown big passenger plane will make its maiden voyage in the first half of this year, state media said Monday, as the country seeks to challenge foreign giants Airbus and Boeing.</strongThe C919 narrow-body jet is expected to "realise its blue-sky flight dream" in the first six months of 2017, the People�s Daily newspaper reported, with the installation of onboard systems almost completed.The plane, produced by the state-owned Commercial Aircraft Corp of China (COMAC), was originally scheduled to make its debut journey in 2015, but the date was repeatedly pushed back as it underwent additional testing and certification.For China, the aircraft represents at least eight years of effort in a state-mandated drive to reduce the country�s reliance on European plane maker Airbus and Boeing of the United States and compete directly against them for market share.The first C919 rolled off the assembly line in November 2015 after workers spent more than a year putting together the single-aisle aircraft, which can seat 168 passengers.It is hoped the plane will take market share in the lucrative segment from the Boeing 737 and Airbus A320. In November COMAC said it had received 570 orders from 23 customers.China is one of the Western manufacturers� key battlegrounds, with its travellers taking to the skies in ever-growing numbers.The country�s airlines will need nearly 6,000 new planes worth $945 billion over the next two decades, Airbus said in its 2016-2035 Global Market Forecast.Boeing�s expectations are even more optimistic, for 6,800 aircraft costing $1 trillion.To win favour locally both have built partnerships with Chinese firms, even as Beijing hopes to oust them with homegrown aircraft.Airbus has a completion and delivery centre in Tianjin, where workers install furnishings and apply paint to aircraft for the domestic market. It also buys parts such as exit doors, brake blades and wing sections from Chinese suppliers.Boeing last year announced plans to open a facility with COMAC to paint and install cabins for 737-model planes, the Chinese firm said.COMAC has also developed a smaller regional jet, the ARJ21, which took to the skies in its first commercial flight last June.
 The Turkish government has ordered the transfer of tens of billions of dollars worth of state assets to a sovereign wealth fund, in a huge shake-up of its holdings aimed at financing ambitious infrastructure projects.</strongThe assets being transferred to the sovereign wealth fund range from wholly state-owned Ziraat Bank to the government�s minority shareholding in flag carrier Turkish Airlines."The existing management and business plans of the companies will continue, as will cooperation with all relevant stakeholders, including international financial institutions," the government said in a statement late Sunday.Included in the transfer are the government�s stakes in privatised companies including Turkish Airlines, where the state has a 49.12 percent holding, and lender Halkbank, where it has 51.11 percent. Also moved is the stake of around 7 percent in Turk Telekom.State-owned enterprises including Ziraat Bank, natural gas distributor BOTAS, the PTT Turkish post office and the state tea producer are also being moved to the wealth fund.The fund was established in August 2016 but this is the first time that significant businesses have been transferred under its control. It was already controlling horse racing and lottery assets.Ozgur Altug, economist at BGC Capital in Istanbul, said he estimated the value of the transferred assets to be $33 billion. The change means that the fund will receive dividends from the assets rather than the government budget, he said in a note to clients.Turkey is following in the steps of several countries in putting key national assets into a sovereign wealth fund, which can be used for major projects, maintaining pensions and national welfare programmes, or in times of crisis.But Ankara�s fund is well behind the biggest sovereign wealth funds in Norway, the Gulf and China.Norway�s sovereign wealth fund is the world�s largest, worth $892 billion and holding stakes in around 9,000 companies worldwide.When Turkey�s fund was founded in August, the state-run Anadolu news agency said it would be used to fund "mega projects" such as the planned Istanbul shipping canal and a new three-level tunnel under the Bosphorus.President Recep Tayyip Erdogan fondly refers to such plans as his "crazy projects" aimed at transforming infrastructure to create a "new Turkey".Anadolu said in August the fund aimed eventually to have a value of $200 billion.
 Iran has imposed no restrictions on U.S. oil firms willing to participate in energy projects in the country but American sanctions make such cooperation impossible, Iran's deputy oil minister said on Monday.</strong"Iran has not imposed any restrictions on the U.S. companies, but they cannot participate in our (oil and gas) tenders due to the U.S. laws," Amir Hossein Zamaninia, deputy oil minister for trade and international affairs, was quoted as saying by state news agency IRNA."Based on the U.S. Congress sanctions, the American oil companies cannot work in Iran," he added.Iran said on Saturday that it will hold the country's first tender in mid-February since the lifting of international sanctions to develop oil and natural gas fields.OPEC's No. 3 oil producer hopes to draw foreign companies to invest in Iran and boost output after years of under-investment. However, foreign firms have so far made little inroads into the country despite the lifting of sanctions.President Donald Trump's new U.S. administration on Friday imposed fresh sanctions on Iran, which it said were just initial steps. It said Washington would no longer turn a "blind eye" to Iran's hostile actions.Dismissing the new sanctions, Zamaninia said "such actions have had no effect, and international companies are still keen to do business with Iran."Anglo-Dutch oil firm Royal Dutch Shell (RDSa.L) signed a provisional deal in December to develop Iranian oil and gas fields South Azadegan, Yadavaran and Kish.
 The world�s longest commercial flight landed in New Zealand Monday with the arrival of Qatar Airways�s 14,535 kilometres (9,032 miles) Doha-Auckland service, the airline announced.</strong"We�ve officially landed in Auckland," the airline tweeted as flight QR920 landed at 7.25am (1825 GMT Sunday), five minutes ahead of schedule after a 16 hour 23 minute flight.The long-range Boeing 777-200LR crossed 10 time zones on its marathon flight.Qatar Airways noted the flight was longer than the entire "Lord of the Rings" and "The Hobbit" trilogies which were filmed in New Zealand.There were four pilots on board as well as 15 cabin crew who served 1,100 cups of tea and coffee, 2,000 cold drinks and 1,036 meals during the flight.In keeping with international tradition to welcome inaugural flights, the Auckland airport rescue service showered the plane with water cannons on arrival.New Zealand Trade Minister Todd McClay said the estimated economic impact of the new service "will be well in excess" of NZ$50 million (US$36 million) with the increased freight capacity provided.In March last year, Emirates airline launched what was then thought to be the world�s longest non-stop scheduled commercial flight, with a service from Dubai to Auckland, spanning 14,200 kilometres (8,824 miles).Air India�s Delhi-San Francisco flight claims the world�s longest by flying distance but when measured on the surface of the earth Doha and Auckland are further apart.img alt="" height="625" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/060217FLIGHTONLIN1.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="550"/
 China�s foreign exchange reserves have fallen below $3 trillion for the first time in six years, the central bank announced Tuesday, crossing a symbolic threshold as authorities seek to stem capital flight out of the country.</strongSlowing growth in the world�s second-largest economy and a weakening yuan have in recent months led investors to move huge sums offshore in search of better returns.But authorities� efforts to put the brakes on capital outflows by propping up the value of the yuan, which is facing downward pressure from a strong dollar, have rapidly drained reserves.China could also face more pressure if new US President Donald Trump follows through on pledges to take protectionist moves or stimulate the American economy, which are likely to further lift the greenback."With Chinese FX reserves having dropped below the psychologically important threshold of USD 3 trillion, this will further ramp up the pressure on Chinese policymakers," Rajiv Biswas of IHS Global Insight said in a note.China�s vast foreign exchange reserves slipped $12.3 billion to $2.998 trillion in January, data from the People�s Bank of China showed.It was a larger decline than expected by a Bloomberg News survey of economists, and nearly a trillion dollars beneath its June 2014 peak."This decline will likely spark renewed debate over how long the People�s Bank (PBOC) can continue intervening to support the renminbi," Julian Evans-Pritchard of Capital Economics said in a note.As well as trying to slow the yuan�s descent, which is close to eight year lows against the American currency, Beijing has tried to reduce capital flight by heightening the already strict requirements for citizens to move money out of the country.But "as the pressure for financial outflows is likely to remain high, existing policies may not be enough", according to Louis Kuijs of Oxford Economics.Policymakers may have to resort to "more forceful steps" such as "formally re-imposing restrictions on outflows", he said.January�s forex decline was narrower than the $41 billion drop in December and nearly $70 billion fall in November, the State Administration of Foreign Exchange (SAFE) said on its website.SAFE emphasised that China�s forex reserves, "although slightly below the scale of three trillion US dollars, are still the highest in the world," adding that China�s reserves remain "ample".
 Citing Pakistan�s growth rate, one of the world's largest professional-services firms, PricewaterhouseCoopers, have ranked Pakistan to be among top 20 powerful economies by 2030 and 16th by 2050.The <a href="https://www.pwc.com/gx/en/world-2050/assets/pwc-world-in-2050-summary-report-feb-2017.pdf">PWC released its predictions for the 32 most powerful economies </a>in the world by 2050, based on their projected Gross Domestic Product by Purchasing Power Parity (PPP).The report, titled "The long view: how will the global economic order change by 2050?" ranked 32 countries by their projected global gross domestic product by purchasing power parity.Purchasing Power Parity (PPP) is an economic theory that compares different countries' currencies through a market "basket of goods" approach. PPP determines the economic productivity and standards of living of various countries over a period. Since market exchange rates fluctuate substantially, many economists consider PPP as a more precise way of estimating a country�s economy.The consulting firm also predicted 2050 GDP numbers based on market exchange ratings, an alternative method for GDP calculation. In these rankings, the US will lose global dominance by 2030, and the gap will only grow by 2050 with China having a nearly $50 trillion GDP, and the US having the same $34.1 trillion.Following is the list of top 32 economies by 2030:01. China � $38.008 trillion<br/>02. United States � $23.475 trillion<br/>03. India � $19.511 trillion<br/>04. Japan � $5.606 trillion<br/>05. Indonesia � $5.424 trillion<br/>06. Russia � $4.736 trillion<br/>07. Germany � $4.707 trillion<br/>08. Brazil � $4.439 trillion<br/>09. Mexico � $3.661 trillion<br/>10. United Kingdom � $3.638 trillion<br/>11. France � $3.377 trillion<br/>12. Turkey � $2.996 trillion<br/>13. Saudi Arabia � $2.755 trillion<br/>14. South Korea � $2.651 trillion<br/>15. Italy � $2.541 trillion<br/>16. Iran � $2.354 trillion<br/>17. Spain � $2.159 trillion<br/>18. Canada � $2.141 trillion<br/>19. Egypt � $2.049 trillion<br/>20. Pakistan � $1.868 trillion<br/>21. Nigeria � $1.794 trillion<br/>22. Thailand � $1.732 trillion<br/>23. Australia � $1.663 trillion<br/>24. Philippines � $1.615 trillion<br/>25. Malaysia � $1.506 trillion<br/>26. Poland � $1.505 trillion<br/>27. Argentina � $1.342 trillion<br/>28. Bangladesh � $1.324 trillion<br/>29. Vietnam � $1.303 trillion<br/>30. South Africa � $1.148 trillion<br/>31. Colombia � $1.111 trillion<br/>32. Netherlands � $1.08 trillionimg alt="" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/PWCchartweb.jpg" width="100%"/
 Prime Minister Nawaz Sharif on Thursday said Pakistan was set on track of sustainable growth and was ready to do business with the world.</strong�Pakistan with its sixth largest population in the world, 80 million middle class, blessed with human and natural resources, strategically located, politically stable, offering attractive policies is a destination no global player can miss,� the prime minister said in a meeting with heads of international organizations, here at the PM Office.The group of corporate leaders that attended the meeting belonged to the United States, Australia, China, United Kingdom, Canada, Italy, France, Spain, Sweden, Singapore, Germany, South Korea and Switzerland.The prime minister urged upon the foreign businessmen to avail the country�s investment potential and �enjoy the first mover�s advantage�.Nawaz Sharif apprised the businessmen that Pakistan�s economic conditions were improving continuously with an objective to achieve 5 percent GDP growth rate from the current 3 percent.He said the government was aimed at achieving sustainable economic growth and mentioned several steps taken in this regard including strengthened tax administration, rationalize untargeted annual subsidies and widened social safety nets.He said these steps reinforced macroeconomic policies, which resulted in lower budget deficit, increased foreign exchange reserves, and low spending on energy subsidies.The prime minister said the government was cognizant of the need for a comprehensive and contemporary policy framework that supported macroeconomic stability.�We are well aware that international investors need stable markets backed by clear and consistent policies. We are committed to maintaining an enabling policy framework to attract foreign direct investment,� he said.He said the Vision 2025 mapped Pakistan to join the top 25 economies in the world leading to Upper Middle Income country status by 2025.He said the country�s economy was targeted to grow over 8 percent between 2018 and 2025 while maintaining single digit inflation.He mentioned that PricewaterhouseCoopers had placed Pakistan at 20 in its projected list of 32 most powerful economies of the world in 2030.The prime minister said as a result of sustained commitment to reform, key economic indicators had improved since the government was elected in 2013.Over the past three years, the government brought down the fiscal deficit from 8.6 to 4.2 percent, increased Tax-to-GDP ratio from 9.8 to 12.4 percent and investment to GDP ratio from 14.9 to 15.2 percent, he added.He mentioned that inflation had been contained which had earlier touched 1.6 percent in October 2015 and had remained well under 3 percent since then.He said industrial sector showed remarkable performance and registered a growth of 6.8 percent during 2015-16 and was poised to do even better this year and onwards.Prime Minister Nawaz Sharif said since he came into office in 2013, the economy faced severe energy shortages, inflationary pressures, exchange rate volatility and a precarious security environment.He said however at present, the consumer market in Pakistan was growing at a very fast pace including automobiles, housing, electronics, telecommunication, hospitality and online-retails sectors.He said Pakistan was emerging as an expanding market for the US and European products.He mentioned that the government had devised a comprehensive plan to create investment friendly environment, particularly liberalized investment policies to welcome foreign investments.�We offer incentives to attract new capital inflows, including tax exemptions, tariff reductions, infrastructure, and investor facilitation services,� he said.He said the Investment Policy (2013) focused at reducing the cost of doing business in Pakistan, easing business with creation of industrial clusters and Special Economic Zones to attract foreign direct investment, all protected by legislation.Nawaz Sharif said Pakistan Stock Exchange had been created to lower fragmentation of the market and bring it at par with global markets.�The bench mark index PSE100, crossed 49,000 in January 2017 and is touching new heights. Recently, 40 percent strategic shares of Pakistan Stock Exchange (PSX) were sold to a Chinese consortium,� he added.He pointed that this divestment was the first such sale in a bourse in the regional markets and it also marks first venture of Chinese bourse outside China.The PM also apprised the foreign businessmen of Pakistan�s strategic location on Asia�s premier trade, energy and transport corridor.�It is also the gateway to the energy rich Central Asian States, the financially liquid Gulf States and the economically advanced Far Eastern economies,� he said.He said China Pakistan Economic Corridor (CPEC) was a key regional initiative for connectivity and shared prosperity of nations.He said under CPEC, a portfolio of over US$55 billion had already been implemented while investment of more than US$35 billion in the energy sector was also being implemented.He said the corridor would substantially shorten transportation distances between Africa and Middle-East to Central and South Asian regions.The prime minister said international economic agencies were upgrading ratings for the financial and economic stability of Pakistan.He mentioned that Standard &amp; Poor (S&amp;P) had upgraded its forecast of average annual GDP growth from 4.7 to 5 percent, World Bank forecast a GDP growth of 5.2 percent for 2016-17, S &amp; P also expected Pakistan�s debt to fall below 60 percent of GDP by 2018.The CEOs from UK included Henry Cookson, MD Henry Cookson Adventures, Britain; Julia Charlotte Chastel De Boinville, Clint Programme Manager Afiniti; George Justin Murray, MD Afiniti; Christopher Malcolm Farmer, EVP Afiniti; Thomas Hampden Inskip, MD Afiniti; Archibald Soames, Sr Manager Afiniti; Julian Lopez Portillo, Client Programme Manager Afiniti and Max Cooper Lintott, Client Program Manager Afiniti.The business leaders from USA included Muhammad Ziaullah Khan Chishti, CEO the Resource Group and Hassan Afzal, Chief Technology Officer Afiniti.The business leaders from Italy included Alessandro Benetton, CEO Benetton Autostrade Pvt Equity; Carlo D� Amelio, CEO Sant� Anna-Holding Ibl Bancal-Spa; Fabio Corsico, Govt Affairs Director Kolon Group; Marco Alvera, CEO Snam; Cecilia Braggiotti, MD Afiniti and Lucia Baresi, Client Programme Manager Afiniti.The CEOs from China included Sichen Huang, Afiniti Advisor; Guo Ping, CEO Huawei; Linchun Chin, Youghi Yang, Jin Yi Hugo Ou, Non ED Sinolink Worldwide Holdings, China.The CEOs from other countries included Raymond Lee, Owner Kolon Group (South Korea); Rob Rankin, Chairman Consolidated Press Holdings and Roy Wyatt Beau, Client Programme Manager Afiniti (Australia); Lai Chang Wen, CEO Ninja Van and Li Huanwu, GM Afiniti and Hua Qianni, Centre Director (East China) (Singapore Consulate); Tanguy Catlin, Senior Partner Mckinsey and Jerome Geo.M.F.de la Croix de Castries, Country Manager Afiniti (France); Alonso Aznar Botella, Silent Programme Manager (Spain); Benedict Constantin Faber, GM Afiniti (Germany); Michel Grorges Portenier, EVP Afiniti (Switzerland); Timothy Gordon Raymond Nixon, GM Afiniti (Canada); Justyna Hanna Kozicki (Sweden) and Ali Raza Siddiqi, Director JS Group and Nadeem A. Elahi, MD and Country Head Pakistan, The Resource Group (Pakistan).
strong>OPEC has delivered over 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start in implementing its first production cut in eight years.</strongThe Organization of the Petroleum Exporting Countries is cutting its crude output by about 1.2 million barrels per day (bpd) from Jan. 1 to prop up oil prices and reduce a supply glut.Supply from the 11 OPEC members with production targets under the deal in January has fallen to 29.921 million bpd, according to the average assessments of the six secondary sources OPEC uses to monitor its output seen by Reuters.This amounts to 92 percent compliance, according to an OPEC calculation.Compliance of 92 percent comfortably exceeds the initial 60 percent achieved when OPEC's previous deal to cut was implemented in 2009, and the OPEC figures add to indications that adherence so far has been high.OPEC is scheduled to publish its first assessment of January production based on the secondary-source figures in its monthly oil market report on Monday. The figures could be revised before they are published, sources said.
 Nordstrom�s sales of�Ivanka Trump�s line of clothing and shoes fell by nearly�one-third in the past fiscal year, with sharp drops in sales�weeks before her father Donald Trump was elected president, the�Wall Street Journal reported on Saturday.Nordstrom announced this week it had decided to stop�carrying Ivanka Trump�s apparel, prompting President Trump to�take to Twitter to defend her."My daughter Ivanka has been�treated so unfairly by @Nordstrom," he said on Wednesday.�The Journal cited internal Nordstrom data as showing sales�of Ivanka Trump�s products were more than 70 percent lower in�the second, third and fourth week of October compared to the�same weeks the previous year.The election was on Nov.8. Nordstrom had $14.3 million in sales in the fiscal year that�ended in January, down from $20.9 million in the previous year,�the Journal reported.Nordstrom spokeswoman Tara Darrow said that the retailer did�not provide the Wall Street Journal with data on Ivanka Trump�s�sales."We have not and will not share specific sales results�numbers related to this brand or any other brand," Darrow said�in an email.In addition to the president, others in the administration�expressed support for Ivanka Trump�s business.�Senior White�House adviser Kellyanne Conway was accused of violating ethics�rules after she went on television to urge people to buy Ivanka�Trump�s products in what she called "a free commercial."Republican Jason Chaffetz, chairman of the House of�Representatives Oversight committee, said on Thursday he had�asked the Office of Government Ethics to review Conway�s�comments and recommend disciplinary action against her if�warranted.
 Donald Trump�s daughter Ivanka got a plum spot at America�s highest table Monday, attending her father�s meeting with Canadian Prime Minister Justin Trudeau and businesswomen from both countries.Ivanka sat next to the 45-year-old Canadian premier in the White House Cabinet Room, and opened the discussion after both leaders had spoken.The appearance comes amid questions over the separation of Trump family businesses from the official roles of the president and his relatives.Trump is the first president in modern times to refuse to release his tax returns or divest from his business interests -- choosing instead to put his sons in charge.His daughter also has significant business interests that have become the focus for government ethics watchdogs.Trump last week tweeted that Ivanka had been "treated so unfairly" by Nordstrom, an upscale department store chain that dropped her fashion brand.And a key Trump aide is facing possible investigation after pitching the president�s daughter�s fashion brand on television.Speaking with the White House seal clearly visible over her shoulder, Kellyanne Conway gave Ivanka Trump�s clothing a rave review during a Fox interview, urging shoppers to "go buy Ivanka�s stuff."
 Oil pared gains on Tuesday as concerns about rising supply from U.S. shale output overshadowed an OPEC-led effort to cut global output, which has supported oil prices in a higher range.</strongBrent crude was 61 cents higher at $56.20 a barrel by 11:30 Eastern (1530 GMT), after earlier rising to $56.46 a barrel. U.S. light crude was up 45 cents at $53.38.The two benchmarks fell 2 percent on Monday. They are both now near the middle of $5-per-barrel trading ranges seen since early December.The Organization of the Petroleum Exporting Countries and other exporters including Russia have agreed to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017 in a bid to rein in a global fuel supply overhang.The market has largely priced in the production cuts that OPEC and other producers agreed to in November, leaving little room for prices to break out of the range, said Tariq Zahir, managing member of Tyche Capital in New York."It would take either a supply outage or serious cuts to move it," he said. "The first month, obviously, OPEC is going to do the best it can, but after that, let's see what the second and third month bring."Rising production in the United States, where increased drilling activity especially by shale oil producers, has undermined these efforts. U.S. crude output is up 6.5 percent since mid-2016 to 8.98 million bpd, its highest level since April last year.U.S. shale oil production for March is expected to rise by the most in five months to 4.87 million bpd, its highest rate of since May last year, government data showed on Monday."Oil just appears to be caught in a range at the moment and mainly focused on those supply considerations," said Ric Spooner, chief market analyst at CMC Markets in Sydney.Although OPEC countries are largely sticking to their agreement with compliance around 90 percent, investors suspect the cuts may not be maintained, preventing them from having a bigger impact on prices."OPEC producers want the market to believe they will stick to the agreed production freeze (cut). But lessons from the past have made the market deeply suspicious," said Hans van Cleef, senior energy economist at ABN AMRO Bank in Amsterdam.Many analysts say oil producers will have to cut production more quickly to drain the global oversupply this year."Based on OPEC�s own numbers the message is loud and clear," said Tamas Varga, analyst at London broker PVM Oil Associates."Improve on compliance, cut production further and extend the deal for the second half of the year if you want to avoid yet another year of global oil inventory builds."
 The Government has announced to raise prices of petroleum products by one rupee here on Wednesday.Finance minister Ishaq Dar while talking with media regarding changes in prices of petroleum products told that an increase of one rupee each in prices of petrol and diesel had been made while the Government would give a subsidy on kerosene oil and light diesel. Thus, the previous prices of light diesel and kerosene oil will remain unchanged.He said the new prices of the petrol products would effective from 12 tonight. �
 The launch of Tesco Label products at Alpha Supermarkets in Pakistan was announced by the British High Commissioner Thomas Drew and Limestone Private Limited at the British Deputy High Commission in Karachi.</strongAccording to a statement issued by British Deputy High Commission here on Wednesday, the Tesco PLC is one of the world�s biggest companies and is a British multinational grocery and general merchandise retailer with stores in 12 countries across Asia and Europe.Tesco products will soon be available at Alpha Supermarkets in Pakistan including food and nonfood items in three categories: Tesco Goodness, Tesco Finest and Tesco Everyday.British High Commissioner to Pakistan, Thomas Drew, said on the occasion that �UK brands- especially those as big as Tesco� have a real advantage in Pakistan, as British brands are so recognizable already to the many people in Pakistan who have visited the UK.This is a particularly important year for this to be happening in Pakistan, as we are celebrating 70 years of UK-Pakistan relations.While we will, of course, be remembering all the things that have linked us over the last 70 years, we are just as focused on the future of our relationship. At the heart of this will be increased trade between our two countries and I hope Tesco�s launch is just the start of a new era of British-Pakistani trade�.
 Canadian Prime Minister Justin Trudeau said on Thursday that the whole world benefited from a strong European Union and that the bloc and his country needed to lead the international economy in challenging times.</strongTrudeau told the European Parliament that the Union was an unprecedented model for peaceful cooperation in a speech that marked his distance from both the United States under new President Donald Trump, who has questioned the value and future of the bloc, and from Britain, which has voted to leave it.An effective European voice on the global stage was not just preferable, but essential, Trudeau said."You are a vital player in addressing the challenges that we collectively face as an international community," he told EU lawmakers a day after they backed an EU-Canada free trade deal. "Indeed the whole world benefits from a strong EU."Trudeau, who will also visit Germany, said that Canada and the European Union shared a belief in democracy, transparency and the rule of law, in human rights, inclusion and diversity."We know that, in these times, we must choose to lead the international economy, not simply be subject to its whims," he said, according to a text made available in advance of his speech, adding both parties had shown they valued trade and a belief that it could bring prosperity to their citizens.With the passage of their trade deal, Canada and the European Union offer a counter to Trump, who has withdrawn from the Trans-Pacific Partnership (TPP) and wants to rework the North American Free Trade Agreement.For Canada the Comprehensive Economic and Trade Agreement (CETA) is important to reduce its reliance on the neighbouring United States as an export market.For the EU, it is a first trade pact with a G7 country and a success to hail after months of protests at a time when the bloc's credibility has taken a beating from Britain's vote last June to leave.Trudeau's speech, in English and French, got a warm welcome from lawmakers in Strasbourg as he signalled Canada's distance from both its big neighbour to the south under Trump and from London, where Brexit supporters argue that ties to Britain's old empire can help expand trade once out of the European Union.Both Canada and the EU, said Trudeau, needed to ensure that their Comprehensive Economic and Trade Agreement (CETA), set to enter force in months, worked for people."If we are successful, CETA will become the blueprint for all ambitious, future trade deals. If we are not, this could very well be the last. So make no mistake, this is an important moment for us."Trudeau said many people were worried that the current system only benefited society's luckiest few and that this was a valid concern.Trade, he said, must be inclusive, so that everyone benefited."And this agreement ... delivers just that."
 A 20-member delegation of Chinese companies on a visit to Pakistan looked into the opportunities to develop a sister economic zone in Sindh.</strongThe delegation, comprising companies doing business in disposal power generation, agriculture, steel industry, energy, technology, industrial zones, ship construction and biotech visited Karachi.Hassan Ali Shareef of Strategic Advisory Partners (SAP), said we are exploring opportunities to develop a sister economic zone in Sindh with the help of International Green Economic Association of China.The visit held under aegis of China-Pakistan Friendship Association (CPFA) was sponsored by Pakistan�s SAP.<br/><img alt="" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/CPEC-Sindh-2-T.jpg" width="100%"/The purpose of the visit was to explore arenas for business collaboration in different areas of mutual benefit especially with the private sector of Pakistan, Shareef said. 'They have very productive meetings with the Board of Investment Sindh as well.'Commenting on the prospects of joint business ventures, Vice Chairman IGEA, Michael Zhao said our visit is larger part of China-Pakistan Economic Zone (CPEC) as it is focusing more on real estate energy our delegation includes small and medium size companies which are closely linked with construction of big infrastructure projects.<br/><br/>It is becoming more successful as we are understanding the society more and studying the needs of Pakistani organizations, he said.'Most of the companies are here for the first time so as they are interacting with local companies, they will see how can they help their Pakistani counterparts.'<br/><img alt="" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/CPEC-Sindh-3-T.jpg" width="100%"/We are inviting Pakistani friends to come China to invest in �One Economic Zone� and many export oriented Pakistani companies have express interest in it, Zhao added.
 Oil slipped on Friday, pressured by growing global stocks, while expectations that an oil output cut by producers might eventually balance the market helped to underpin prices.</strongBrent crude futures were trading at $55.57 per barrel at 0945 GMT, 8 cents below their last close.U.S. West Texas Intermediate (WTI) crude futures were down 4 cents at $53.32 per barrel.Both appeared on track for losses on the week, though prices had moved higher earlier in the session in response to news that producer group OPEC could extend an output cut aimed at reining in a global supply overhang.The Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, plan to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017, and estimates suggest compliance by OPEC is around 90 percent.The cuts are aimed at curbing oversupply that has dogged markets since 2014.But inventories and supplies remain high, especially in the United States."You've got bullishness from the OPEC cuts, but the bearishness of the inventory report," Hamza Khan, head of commodities strategy at ING, said. "The question is, which of these is going to give first?"Brent and WTI have traded within a $5 per barrel price range this year, in what has become the longest and most range-bound period since a price slump began in mid-2014.In the United States, rising output has helped push up crude and fuel stocks to record highs.In Asia, oil flows into the region remain as high as they were before the production cuts, Thomson Reuters data shows, as exporters fight for market share.And there are also signs of faltering demand growth in core markets, China and India.In India, fuel demand growth fell in January, while in China sagging car sales and soaring gasoline and diesel exports also point to a slowdown in growth.That leaves Europe, where OPEC has significantly cut its sales. But Thomson Reuters data shows rising North Sea oil exports to Asia, indicating there is no real supply shortage in the region.Despite the supply glut, analysts expect oil markets to tighten in the longer term."In the fourth quarter of 2018, global oil demand will most likely surpass 100 million barrels per day," AB Bernstein said on Friday in a note to clients."If oil prices stay around $60 per barrel and GDP growth over 3 percent per annum, then oil demand growth will be stronger over the next 5 years, than the previous decade. What we are witnessing is a rather surprising renaissance of oil consumption," it said.
 China will suspend all imports of coal from North Korea starting Feb. 19, the country's commerce ministry said in a notice posted on its website on Saturday, as part of its efforts to implement United Nations sanctions against the country.</strongThe Ministry of Commerce said in a short statement that the ban would be effective until Dec. 31.The ministry did not say why all shipments would be suspended, but South Korea's Yonhap news agency reported last week that a shipment of North Korean coal worth around $1 million was rejected at Wenzhou port on China's eastern coast.The rejection came a day after Pyongyang's test of an intermediate-range ballistic missile, its first direct challenge to the international community since U.S. President Donald Trump took office on Jan. 20.China announced in April last year that it would ban North Korean coal imports in order to comply with sanctions imposed by the United Nations and aimed at starving the country of funds for its nuclear and ballistic missile programmes.But it made exceptions for deliveries intended for "the people's wellbeing" and not connected to the nuclear or missile programmes.Despite the restrictions, North Korea remained China's fourth biggest supplier of coal last year, with non-lignite imports reaching 22.48 million tonnes, up 14.5 percent compared to 2015.
 Tourists are slowly returning to Egypt, easing pressure on a key sector battered by years of turmoil and the 2015 bombing of a plane carrying Russian holidaymakers."There is an increase in the number of tourists. This situation was much better in January than in previous years," tourism ministry spokeswoman Omaima al-Husseini said.Visitors from China, Japan and Ukraine account for a large part of the growth.China�s top public travel agency, China International Travel Service, reported a 58 percent increase in tourists flying to Egypt compared with 2015."There are more bookings between October 2016 and January 2017 than last year," said Egyptian Federation of Tourism chief Karim Mohsen."There is an improvement, especially in cultural tourism in Cairo, Luxor and Aswan," key historical sites, he said.The uptick is a sign of hope for a country also reeling from the shock of an economic reform programme that has triggered massive inflation.Once a key foreign currency earner, the tourism sector crashed in 2011 after a popular uprising overthrew veteran strongman Hosni Mubarak, ushering in years of sporadic unrest.Recoveries in the sector since then have been set back by new crises.In June 2015, a massacre of tourists at a Luxor temple was narrowly averted when assailants armed with assault rifles and explosives bungled the attack and were intercepted by police.But in October that year, Islamic State group jihadists, who are waging an insurgency in the eastern Sinai Peninsula, struck again. They bombed a Russian airliner carrying holidaymakers home from the popular Red Sea resort of Sharm el-Sheikh.All 224 people on board were killed.Russia suspended flights to Egypt and Britain cut air links with Sharm el-Sheikh.Visitor numbers plunged from 9.3 million in 2015 to 5.3 million the following year, Husseini said.
 Women have been named to head Saudi Arabia�s stock exchange and a major bank, the institutions announced, despite the kingdom�s social restrictions on females.Samba Financial Group on Sunday said Rania Mahmoud Nashar had begun work as chief executive officer.The announcement came three days after the Saudi stock exchange, known as Tadawul, named Sarah al-Suhaimi as chairman of its board.While other Saudi women have already assumed corporate leadership positions, their rise comes against some of the world�s tightest restrictions on women.The kingdom is the only country in the world where women cannot drive.Under the "guardianship" system a male family member, normally the father, husband or brother, must grant permission for a woman�s study, travel and other activities.Although the government no longer requires guardian permission for women to work, activists have said many employers still demand guardian consent in order to hire a woman.In a notice to the Saudi stock exchange, Samba said Nashar had almost 20 year�s experience in banking and had followed an "executive career" programme at Samba.Samba also said that Nashar was the first Saudi woman certified as an anti-money laundering specialist by a respected American association of experts who combat financial crime.Her appointment as CEO followed the resignation of general manager Sajjad Razvi for personal reasons.Tadawul�s Sarah al-Suhaimi is the CEO of NCB Capital, the investment banking arm of National Commercial Bank.She was the first female head of a Saudi investment bank when named to that post in 2014, according to Bloomberg News.It said she is expected to remain at the bank while leading Tadawul, the Arab world�s largest bourse.As part of a wider-ranging social and economic reform drive to cope with fallen oil revenues, Saudi Arabia is trying to get more women working.In the third quarter of last year the unemployment rate for Saudi females was 34.5 percent, compared with 5.7 percent for Saudi males, according to figures cited by the firm Jadwa Investment.By 2020 the Islamic kingdom wants to boost the proportion of women in the job market to 28 percent from 23 percent last year.
 The United Arab Emirates (UAE) announced 4.07 billion dirhams ($1.11 billion) in defence procurement contracts on Tuesday, the third day of the biennial International Defence Exhibition (Idex) in Abu Dhabi.</strongThe UAE Armed Forces have awarded around 15.4 billion dirhams in contracts in the event's first three days, Reuters calculations show.Idex spokesman Rashid al-Shamsi told reporters he expected contracts worth 18 billion dirhams to be awarded at the event, where more than 1,200 companies are participating.The region's largest defence show closes on Thursday.($1 = 3.6723 UAE dirham)
 A State Bank of India (SBI) ATM in South Delhi dispensed fake Rs 2,000 notes, which could be passed off as genuine at first glance, are replete with errors and seem to be a prank at people�s expense.The notes, dispensed on February 6, read �Children Bank of India� in place of Reserve Bank of India and �Guaranteed by the Children�s Government� in place of Guaranteed by the Central Government. �Churan lable� in place of the latent image and a fake �PK� logo instead of the bank�s seal, are among some of the other obvious deviations on the note.Confirming the development, a senior police officer said that the ATM first dispensed four such Rs 2,000 notes to a customer. �We sent a sub-inspector to verify the allegations. He withdrew one Rs 2,000 note and that also turned out to be fake,� the officer said, adding that the other notes in the bundle were genuine.The man left with the fake notes said that all the four notes he withdrew were fake. He noticed the deliberate mistakes on the notes like �promise to pay the bearer two thousand coupons� and �Serial number 000000� and immediately brought it to police�s notice after which a sub-inspector was sent to the ATM located at the T-Point of Tigri in Sangam Vihar.The policeman was unable to find any other customer with a similar complaint, so he withdrew a note from the ATM. The note that was dispensed confirmed �allegations.Police said they are yet to identify the people behind this but they registered a case of manufacturing documents resembling currency notes, using forged or counterfeit notes and of cheating under IPC sections 489-b, 489-e and 420. An SBI spokesman has said they will be sending a team to investigate the matter.�
 Pakistani real estate giant Rafi Group made a ten-fold profit last year from its sale of hundreds of acres of land in the remote fishing town of Gwadar, acquired soon after the government announced plans for a deep-sea port there.</strongThe windfall came after 12 years of waiting patiently for the Gwadar port to emerge as the centrepiece of China's ambitious plans for a trade and energy corridor stretching from the Persian Gulf, across Pakistan, into western Xinjiang."We had anticipated the Chinese would need a route to the Arabian Sea," Rafi Group Chief Executive Shehriar Rafi told Reuters. "And today, all routes lead back to Gwadar."Gwadar forms the southern Pakistan hub of a $57-billion China-Pakistan Economic Corridor (CPEC) of infrastructure and energy projects Beijing announced in 2014.Since then, land prices have skyrocketed as property demand has spiked, and dozens of real estate firms want to cash in."Gwadar is a 'Made in China' brand and everyone wants a piece," said realtor Afzal Adil, one of several who shifted operations from the eastern city of Lahore in 2015.Last year, Pakistan welcomed the first large shipment of Chinese goods at Gwadar, where the China Overseas Ports Holding Company Ltd took over operations in 2013. It plans to eventually handle 300 million to 400 million tons of cargo a year.It also aims to develop seafood processing plants in a nearby free trade zone sprawled over 923 hectares (2,281 acres).The route through Gwadar offers China its shortest path to the oil-rich Middle East, Africa, and most of the Western hemisphere, besides promising to open up remote, landlocked Xinjiang.Last year, the Applied Economics Research Centre estimated the corridor would create 700,000 jobs in Pakistan and a Chinese newspaper recently put the number at more than 2 million.Authorities have completed an expressway through Gwadar, which has a 350-km (218-mile) road network. A new international airport kicks off next year, to handle an influx of hundreds of Chinese traders and officials expected to live near the port.The volume of Gwadar property searches surged 14-fold on Pakistan's largest real estate database, Zameen.com, between 2014 and 2016, up from a prior rate of a few hundred a month."It's like a gold rush," said Chief Executive Zeeshan Ali Khan. "Anyone who is interested in real estate, be it an investor or a developer, is eyeing Gwadar."Prices, which have risen two- to four-fold on average, are climbing "on a weekly basis," said Saad Arshed, the Pakistan managing director of online real estate marketplace Lamudi.pk.Regional fishermen have held strikes during the last two years, to protest against being displaced by the port.To keep pace with the interest, urban officials are struggling to computerise land management and record-keeping. "We are trying to upgrade as fast as we can," said Zakir Majeed, an official of the Gwadar Development Authority (GDA).But Gwadar lacks basic education and health facilities, in contrast to the gleaming towers and piped drinking water of the "smart city" envisioned by the GDA."For commercial projects, things are moving fast," Lamudi's Arshed said. "But people actually living there, that will take a long time."Port officials expect the population to hit 2 million over the next two decades, from about 185,000 now.strong>RISK</strongThe government commissioned work on the Gwadar port in 2002, but development was held up by chronic instability in the surrounding resource-rich province of Baluchistan, where ethnic separatist rebels have chafed against a military crackdown.Since China announced the corridor plan in 2014, security has improved, with Pakistan setting up a new army division to ensure protection, while hundreds of rebels surrendered arms.Real estate firms dismiss fears the "Gwadar bubble" might still burst, pointing to China's enduring interest."The risk is always there," Rafi said. "But our confidence comes from knowing this is not a Pakistani initiative, but a Chinese city on the Arabian Sea coast. And the Chinese will see that it is built."
�Alphabet on Thursday filed a lawsuit accusing Uber and its self-driving vehicle unit Otto of stealing technology from Waymo, a subsidiary of the Google parent company."Otto and Uber have taken Waymo�s intellectual property so that they could avoid incurring the risk, time and expense of independently developing their own technology," Waymo said in a San Francisco federal court filing.The suit contends that a Waymo manager took technical data with him when he left to launch a competing venture that went on to become Otto.
 Malaysia's Prime Minister Najib Razak announced on Monday that Saudi Arabia's state oil company will invest $7 billion into an oil refinery to be set up by Malaysian oil company Petroliam Nasional Bhd (Petronas).</strongNajib said the decision was made before noon on Monday after discussions between top executives from Petronas and Saudi Aramco to build the plant, part of Malaysia's Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang in the southern state of Johor.
 The government has increased petroleum product prices with effective from midnight today Tuesday.</strongFederal Finance Minister Ishaq Dar said the price of petrol has been increased by Rs1.71 and diesel by Rs1.52.With the latest hike, petrol and diesel prices stand at Rs73 and Rs82 per litre respectively.The prices of Kerosene oil and light diesel oil have been increased by Rs 0.75 and Rs 0.66 per litre respectively.The announcement comes a day after Oil and Gas regulatory authority (OGRA) submitted a proposal to the Ministry of Petroleum and Natural Resources asking for an increase in the prices of petroleum products.
 Uncertainty surrounding the sanctions on Iran and its relations with the United States pose a risk to the oil-producing nation�s economy, the International Monetary Fund said Monday.</strongThe comments were a reference to the new sanctions the Trump administration imposed early this month on individuals and companies supporting Iran�s ballistic missile program and the Revolutionary Guards military force.The measures came after Iran test-fired a medium range missile, which the White House contends violated a UN Security Council resolution proscribing missiles that could carry a nuclear device.Washington issued a tough warning that the United States and its allies had been "too tolerant of Iran�s bad behavior" under the 2015 six-nation agreement to monitor and contain the country�s nuclear weapons development."The Trump Administration will no longer tolerate Iran�s provocations that threaten our interests," former National Security Advisor Michael Flynn said early this month, before being forced to resign his post."The days of turning a blind eye to Iran�s hostile and belligerent actions toward the United States and the world community are over."The IMF�s annual report on Iran�s economy, known as the Article IV review, said "renewed uncertainty regarding sanctions is dampening sentiment."The IMF staff said in their assessment the country benefited from higher oil production and is expected to grow 6.6 percent in 2016/2017, before easing to 3.3 percent in the next year.However, the uncertainty surrounding the nuclear agreement "and especially relations with the US, could deter investment and trade with Iran and short-circuit the anticipated recovery," the report cautioned. "If the agreement is derailed, the economy could risk recession."Reimposing sanctions "would lower direct investment and capital inflows, and disconnect Iran from the global financial system."Jafar Mojarrad, IMF executive director for Iran, noted that, "Regrettably, remaining US sanctions and related uncertainty have hindered the return of global banks to the Iranian market and continue to hamper large-scale investment and trade."
 Byco Oil Pakistan Limited raised 3.12 billion rupees via sukuk using a credit gurantee and Ghani Gases raised 1.3 billion rupees via a privately-placed sukuk last month.In December, Fatima Fertilizer Company mandated banks to raise 10.5 billion rupees through a lease-based sukuk.Pakistan GasPort Consortium Limited plans to raise 8.6 billion rupees via seven-year sukuk to finance the construction of the country's second LNG import terminal.
Prime Minister Nawaz Sharif has proposed establishment of a Pakistan-Kuwait Joint Business Council for promotion of trade relations between the two countries.He was talking to Prime Minister of Kuwait Sheikh Jaber Al Mubarak Al-Hamad at Bayan Palace in Kuwait on Tuesday.The Prime Minister pointed out that Pakistan and Kuwait have been economic and trade partners for long and Pakistan wished to further enhance its relations with Kuwait in all spheres. The Joint Ministerial Commission provides the best platform to take stock of bilateral cooperation in various economic sectors and setting new benchmarks to carry this cooperation forward.Referring to the level of bilateral trade between the two countries, the prime minister reiterated that this needed to be further enhanced to its fullest potential. Encouraging greater private sector interaction could enhance the existing level of trade as well as bridge the imbalance in existing trade patterns.Nawaz Sharif said over 114,000 Pakistanis live in Kuwait which was evidence of the strong ties existing between the two countries. It also confirmed the immense importance that Pakistan attaches to relations with Kuwait.Nawaz Sharif also emphasized the importance of early resumption of GCC- Pakistan Free Trade Agreement negotiations with the support of Kuwait and most importantly spoke of the need for lifting of visa restrictions as it would remove a major hurdle in freedom of movement for the business community.He stressed that Pakistan was an investment friendly country and an attractive destination for foreign investors, due to its liberal investment policy and high rate of return.There are ample opportunities for investors, with one hundred percent equity or joint ventures in Pakistan. Over 1,000 leading multinational companies are currently successfully operating in various sectors of our economy.The Prime Minister said there were a number of energy and infrastructure development projects in Pakistan that could be considered by foreign investors. He said we would welcome further investments from Kuwait in mega infrastructure and energy projects being undertaken in Pakistan.Earlier, Nawaz Sharif was accorded a warm welcome upon arrival at the Bayan Palace with Guard of Honor.Meanwhile, talking to Speaker of Kuwaiti Parliament Marzouq Al-Ghanim in Kuwait City, the Prime Minister emphasized the need for greater parliamentary exchanges between Pakistan and Kuwait.He said these exchanges will enhance relations between the two countries.Speaker Marzouq briefed the Prime Minister about the proceeding of Kuwaiti Parliament.
 With related major energy and infrastructure projects being in full swing, China-Pakistan Economic Corridor (CPEC) has become the center-point where transit trade routes converge linking Russia with Central Asia.</strongPakistan has also provided a special security division to secure CPEC from all dangers, a Chinese official website �China.org.cn� opined on Tuesday.The Belt and Road (B&amp;R) kicked off with the CPEC, the first of its six corridors and the linchpin of the B&amp;R strategy, as it unlocks Central Asia, connects to Xinjiang, leads down to Gwadar port and then onwards to Africa, Iran and the Middle East.All this economic activity has also brought about a major geopolitical realignment in the form of the China-Russia-Pakistan power troika, an equation which, provides economic benefit while it addresses mutual security concerns.It also consolidates the entire region vis-a-vis the new dimension of U.S.-India ties. The B&amp;R initiative is a vital combination of geo-economics and geo-strategy.The Belt and Road (B&amp;R) is an innovative paradigm of global integration involving 65 countries, including one-third of the world�s GDP, impacting 65 percent of the world�s population and a quarter of all the goods and services, the website observed.Chinese President Xi Jinping announced the Belt and Road Initiative in late 2013. It comprises the �Belt,� which is a network of roads across the world, and �the Road� which is actually a network of shipping lanes and ports.The project has a geo-strategic component focused on advancing China�s economic goals and utilizing its industrial potential. It serves to remove China�s dependence on the Malacca Strait for oil imports, improves trade connectivity, furthers China�s foreign policy and minimizes conflicts as it reconnects the world.This project of the century has kept the world economy afloat since 2013 by withstanding the crash of the trans-Atlantic banking systems.As PricewaterhouseCoopers reports, the �real value� in China�s economy and its investments in countries along its Belt and Road initiative is shifting to infrastructure projects and rising at a rapid pace.The B&amp;R is to be financed mainly by the Silk Road Fund and the Asia Infrastructure Investment Bank. Additionally, the collapse of the Trans-Pacific Partnership provides Beijing with the perfect opportunity to re-integrate Asian investment that used to find its way to American banks.Further prospects and direction of the B&amp;R initiative will be determined at the �two sessions� as the project is an integral part of China�s new reforms and an intrinsic part of its foreign policy.China is going to hold the Belt and Road forum this May and it would be a masterstroke by China if more countries like U.S. and India announce their participation or signal their approval with their presence at this forum; the great game is never really over and there is much more scope in Chinese wisdom and peaceful globalization in the Eurasian Century.
 Kuwait is building one of the world�s longest causeways to its remote north where it will pump billions into "Silk City", aiming to revive the ancient Silk Road trade route.</strongThe oil-rich emirate is eager to inject life into the uninhabited Subbiya region on its northern tip that has been chosen as the location for Silk City.The plan is to reinvigorate the ancient Silk Road trade route by establishing a major free trade zone linking the Gulf to central Asia and Europe.The 36-kilometre (22-mile) bridge, three-quarters of it over water, will cut the driving time between Kuwait City and Subbiya to 20-25 minutes from 90 minutes now.img alt="" class="full-image" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/212121.jpg"/Investment in the Silk City project is expected to top $100 billion, and a 5,000-megawatt power plant has already been built in Subbiya.At a cost of 904 million dinars ($3.0 billion), the Sheikh Jaber Al-Ahmad Al-Sabah Causeway, named after the emir who died in January 2006, is one of the largest infrastructure ventures in the region.It is already nearly three-quarters completed.Despite the sharp drop in oil income which made up 95 percent of public revenues, the emirate has pledged to keep spending on capital projects almost intact.strong>- �A strategic link� -</strongKuwait boasts a $600-billion sovereign wealth fund, and is in the middle of a five-year development plan stipulating investments worth $115 billion."The causeway project is a strategic link connecting Kuwait City to the northern region," said Ahmad al-Hassan, assistant undersecretary for road engineering at the public works ministry.He told AFP that in addition to the fully integrated residential Silk City, other economic ventures are planned for Subbiya and its surroundings.A large container port is also under construction on nearby Bubiyan, Kuwait�s largest island.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/892739.jpg" width="650"/Completing the causeway and harbour projects will pave the way for transforming the area into a commercial and investment hub with a free trade zone planned on five small islands nearby.The causeway project consists of the main bridge north to Subbiya and a 12.4-kilometre (7.7-mile) bridge running west, dubbed the Doha Link.The two bridges start from the same point at Shuwaikh Port, the country�s main commercial port."If we take the Subbiya bridge alone, it is the fourth longest in the world," Hassan said.The Lake Pontchartrain Causeway in the United States is the world�s longest bridge over water, stretching 38.44 kilometres (23.8 miles).The two Kuwaiti bridges are scheduled for completion in November next year, project engineer Mai al-Messad said.strong>- Economic gateway -</strong"We have already completed 73 percent of the project and hope to finish it ahead of the contractual period," Messad told AFP.The Subbiya bridge sits on more than 1,500 piles with a diameter of up to three metres (10 feet) each, some of which have been driven as deep as 72 metres (240 feet) into the loose clay seabed, Messad said.The bridge is between nine metres and 23 metres (30 feet and 75 feet) above sea level.The Silk City project itself has been proceeding at a slow pace, but the government recently sent a draft bill to parliament to establish a special authority to oversee development in the area.Parliament is expected to start debating the bill soon.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/334434.jpg" width="650"/Under the original blueprint, the city�s completion date was 2030 and was to include a 1,001-metre (3,284-feet) tower and a population of 700,000.In late 2015, the cabinet gave the green light to establish a free economic zone on the five islands near Subbiya and the coastlines of Iraq and Iran.It is hoped that once complete, the zone, spread over several thousand square kilometres (square miles), will become the economic gateway to the northern Gulf.However, nothing tangible has yet been done to advance the free economic zone project itself.The Subbiya Causeway contract was awarded to a consortium led by South Korea�s Hyundai Engineering and Construction Co. along with Kuwait�s Combined Group Contracting Co.Another South Korean firm, GS Engineering &amp; Construction, won the smaller Doha Link contract.
 Russia and Turkey signed a memorandum on Friday creating a joint investment fund into which each country will invest up to $500 million.The Russian Direct Investment Fund (RDIF) and T�rkiye Wealth Fund (TWF) signed the memorandum in the presence of Russian President Vladimir Putin and Turkish President Tayyip Erdogan during a visit by Erdogan to Moscow."A common approach to the investment process will promote the development of economic cooperation and make it more effective. RDIF and TWF are already in talks on a number of potential joint investment projects," Kirill Dmitriev, the head of the Russian fund said in a statement.The joint fund is one of the first international initiatives of the newly established T�rkiye Wealth Fund, Mehmet Bostan, its chief executive, said in the same statement.RDIF and TWF did not elaborate on the sectors into which the fund would invest. Russia's Kommersant newspaper reported earlier on Friday that the new fund would invest in healthcare and tourism.
 Dasu hydroelectric power project would provide more than 8,000 jobs to local residents while helping the Pakistan government modernize and expand the energy sector of the country, shifting from thermal generated electricity to clean, low-cost high reward hydroelectricity.</strongThe project, consisting of the main dam, affiliated facilities, a powerhouse, a residential complex and transmission lines, will also help boost the development of local industry, agriculture and tourism, �China Daily� reported on Friday.It said, China has contracted to build the project situated in remote mountainous terrain in the Upper Indus valley in the district of Kohistan of Khyber Pakhtunkhwa province.China Gezhouba Group Co Ltd has agreed to invest more than $1.72 billion for the construction of the main works of the 5,400 MW hydropower project.According to Deng Yinqi, vice president of CGGC, a member company of the China Energy Engineering Corporation, the power project on completion would be capable of generating 12 billion kilowatt hours annually.A Chinese newspaper �Global Times� quoting experts say, the project will benefit both Chinese enterprises and improve livelihoods in Pakistan.The CGGC said in a statement that the project will be one of the most difficult hydropower stations to build, and will have the largest capacity and investment in Pakistan.It will also alleviate local power shortages and create a large number of employment opportunities, it said. The project is expected to create 8,000 jobs for the local community, according to news portal people.com.cn.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/34343.jpg" width="650"/Zhou Rong, a senior research fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, said it is worth noting that these employment opportunities will be brought to an underdeveloped region.�When people set foot on the path of prosperity, with the help of Chinese builders, they will develop a heartfelt feeling toward China, providing double assurance to the iron-clad relationship between China and Pakistan,� Zhou told the Global Times.The Dasu project is a flagship project of the China-Pakistan Economic Corridor (CPEC), a part of the Belt and Road initiative.Zhou noted, �this project getting the green light shows China�s efforts to make the development of the CPEC more balanced between the developed and undeveloped regions, and between safer and riskier regions of Pakistan.�img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/23322.jpg" width="650"/Many of the CPEC projects are located in Punjab and Sindh, which makes economic sense as these more developed provinces are home to about 80 percent of the Pakistan population, but there are voices from other provinces that the CPEC should be more balanced.Zhou said the Dasu project demonstrates that the CPEC will benefit all of Pakistan.Lin Boqiang, director of the Center for Energy Economics Research at Xiamen University, said, �China has a strong hydropower industry. The success of huge projects like Dasu will lead to more cooperation in the future.
11 p.m. ET) fallen 42 cents, or 0.82 percent, to its lowest since Nov. 30 at $50.95 per barrel. It closed the previous session down 1.6 percent at $51.37 a barrel.U.S. West Texas Intermediate crude (WTI) declined 50 cents, or 1.03 percent, to $47.99 a barrel, its weakest since Nov.29.U.S. drillers added oil rigs for an eighth consecutive week, Baker Hughes said on Friday, as energy companies increased spending to take advantage of a recovery in crude prices since the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut output late last year.OPEC and other major oil producers including Russia reached a landmark agreement last year to cut production by almost 1.8 million barrels per day (bpd) during the first half of 2017.Overshadowing the cuts, crude inventories in the United States, the world's top oil consumer, surged last week by 8.2 million barrels. <br/> <br/> "With the market still digesting the big increase in inventories, oil prices are likely to remain under pressure today," ANZ bank said in a note.Hedge funds and other money managers cut their net long U.S. crude futures and options positions in the week to March 7, according to data from the U.S. Commodity Futures Trading Commission (CFTC) on Friday.
 A company owned by the family of President Donald Trump�s son-in-law, Jared Kushner, is set to receive more than $400 million from a Chinese firm that is investing in its Manhattan office tower, Bloomberg reported Monday.</strongThe Kushner Companies deal with Anbang Insurance Group for the property at 666 Fifth Avenue is worth $4 billion, with real estate experts calling it an unusually favorable deal for the Kushners, the report said.It would value the 41-story tower at $2.85 billion, the most ever for a single building in wealthy Manhattan.Anbang has "murky links to the Chinese power structure" and its previous investments in the United States have raised concerns over national security, Bloomberg said.The investment deal gives Kushner Companies a cash payout, an equity stake in a new partnership and refinancing of $1.14 billion in existing mortgage debt, said Bloomberg, which obtained details of the agreement which is being circulated to attract other investors.A large chunk of a $250 million loan will be forgiven, allowing it to be cleared for $50 million, the report said.Kushner Companies spokesman James Yolles was reported as saying that Jared Kushner has sold his stake in 666 Fifth Avenue so there is no conflict of interest.Kushner, the husband of Trump�s daughter Ivanka, stepped away from his business interests in property development and magazine publishing to take on a role as Trump�s senior advisor.
 Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world�s biggest oil exporter said on Tuesday, as prices fell below $48 a barrel.</strongOPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels per day (bpd) as part of a concerted effort to curb a global oil glut.Saudi Arabia "is committed and determined to stabilise the global oil market by working closely with all other participating OPEC and non-OPEC producers", the energy ministry said in a statement.An OPEC report released Tuesday said that Saudi Arabia reported an increase in oil production for February, saying it pumped 10.011 million bpd last month, up from 9.748 million bpd in January.But the energy ministry said the amount of crude it supplied to the market in February was 9.9 million bpd, down from 9.99 in January."The difference between what the market observes as production, and the actual supply levels in any given month, is due to operational factors that are influenced by storage adjustments and other month to month variables," it said.Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases in oil production, said last week that OPEC compliance with the output reductions had exceeded the target because of higher Saudi cuts, but non-OPEC compliance has been modest.
 The Xinjiang Uygur autonomous region will invest heavily in more high-speed railways and highways to build a high-quality transportation network that can truly support the Belt and Road Initiative.</strongThe region has decided to inject record funding of 170 billion yuan ($24.8 billion) into new roads, up nearly six fold from 2016, and investment in roads, railways and airports this year will top the total funding for transportation infrastructure from 2011 to 2015."Poor transportation infrastructure is the biggest obstacle for Xinjiang to become China's trade hub linking countries along the Silk Road Economic Belt," Shokrat Zakir, chairman of the region, said on Sunday.Northwest China's Xinjiang borders eight countries, including Pakistan and Kazakhstan with a border of more than 5,600 kilometers. Xinjiang was once a key transportation and trade hub on the ancient Silk Road.During this year's annual session of the National People's Congress, the Xinjiang delegation proposed the construction of high-speed railways linking the regional capital of Urumqi and southern Xinjiang's Kashgar, the starting point of the China-Pakistan Economic Corridor (CPEC), as well as another one connecting Urumqi and northern Xinjiang's Horgos, a land port on the China-Kazakhstan border.The delegation also proposed starting construction on the China-Kyrgyzstan-Uzbekistan railway, which has long been discussed and planned. The national lawmakers from Xinjiang believe it is urgent to start construction on the railway to enhance economic cooperation with the two Central Asian countries.A total of 223 westbound trains carrying construction materials, agricultural produce, garments and other merchandise traveled via nine cross-border routes linking Xinjiang to Central Asian countries in 2016, said Hu Kaijiang, director of the Xinjiang Economic and Information Commission.This year, Xinjiang plans to expand operations to run 400 westbound cross-border trains to facilitate exports of technology and equipment and seek new growth opportunities, Hu said.Geographic location, rich natural resources and preferential policies introduced to encourage opening-up have given Xinjiang advantages in becoming the core area on the economic belt, Shokrat said. Becoming a key player on the economic belt will also benefit the region's social development.Besides improving its transportation network, the region will focus on the development of key cities along the economic belt. Xinjiang aims to achieve more than 7 percent economic growth this year and to see "substantial" progress in making the region serve as the transportation, logistic, financial, cultural and medical center on the modern Silk Road, he added.
 Beijing's last large coal-fired power plant suspended operations on Saturday, meaning the capital has become China's first city with all its power plants fueled by clean energy.</strongThe Huangneng Beijing Thermal Power Plant was built up and put into operation in June 1999. It has five coal-fired units with a total installed capacity of 845,000 kilowatts and heating capacity of 26 million square meters.Du Chengzhang, general manager of the plant, said it is an efficient and environmental friendly plant with advanced emission treatment equipment. The plant has provided important support to the stable operation of Beijing's electric power system and the heat-supply system.After the suspension of the plant, about 1.76 million tonnes of coal, 91 tonnes of sulfur dioxide and 285 tonnes of nitrogen oxide emissions will be cut annually.According to a clean air plan by Beijing from 2013 to 2017, Beijing will build four gas thermal power centers and shut down the four large coal-fueled thermal power plants during the period.Another three plants which used to consume over 6.8 million tonnes of coal each year were closed in 2014 and 2015.Du said Huangneng will prepare to serve as an emergency heat source for the capital's heating system after operations cease.Three of the four gas thermal power have already been built and are in use.Beijing has 27 power plants, all fueled by clean energy with a total installed capacity of 11.3 million kilowatts.According to the city's plan, Beijing will build no more large-scale power plants.
 The World Bank on Sunday announced $57 billion in financing for sub-Saharan Africa over the next three fiscal years.</strongOf that total, $45 billion will come from the International Development Association, the World Bank fund that provides grants and interest-free loans for the world�s poorest countries.The package will also feature an estimated $8 billion in private sector investments from the International Finance Corporation, a private-sector branch of World Bank, and $4 billion will come from the International Bank for Reconstruction and Development, the bank�s unit for middle-income nations, World Bank president Jim Yong Kim said in a statement.Germany, which hosted a meeting of the G20 countries Friday and Saturday, said that a partnership called "Compact with Africa" would be a priority of its presidency this year of that club of powerful nations. Of all the countries in Africa, only South Africa is a G20 member."This represents an unprecedented opportunity to change the development trajectory of the countries in the region," Kim said."With this commitment, we will work with our clients to substantially expand programs in education, basic health services, clean water and sanitation, agriculture, business climate, infrastructure and institutional reform," he added.Kim left for Rwanda and Tanzania on Sunday in a show of World Bank support for the entire region.The new financing from the International Development Association will target 448 projects that are already underway in sub-Saharan Africa. The region accounts for more than half of the countries eligible for this kind of financing from the IDA, the bank said.
 Arcelik, the home appliances arm of Turkey's biggest industrial conglomerate Koc Holding, is working on acquisitions to speed up its international expansion, particularly in Asia, its chief executive said on Monday.</strongThe company, which sells washing machines, dryers and refrigerators under labels including Beko and Grundig, wants more such "white goods" brands, but could also look at small appliances such as coffee makers and food processors."(M&amp;A) is important because we have global ambitions," CEO Hakan Bulgurlu told Reuters in an interview in London.He forecast "significant demand growth" in southeast Asia and the Indian subcontinent, including Indonesia, Vietnam and the Philippines, as well as Bangladesh, Pakistan and India."They're all focus areas for us," he said.Geography is a much more important factor than price, Bulgurlu added. Arcelik could easily do another deal like last year's roughly $250 million purchase of Pakistan's Dawlance, but could also do something several times bigger, he said."We're opportunistic. We're not restricted on size in any way."Bulgurlu said international markets should account for 65 percent of Arcelik's sales this year, up from 60 percent in 2016, reaching 80 percent in a few years.Europe currently accounts for the large majority of international sales, though the company has a growing presence in Africa through its 2011 purchase of South Africa's Defy Appliances.GLOBAL UNCERTAINTYBulgurlu stood by Arcelik's forecast for revenue to grow 20 percent this year from 16.10 billion Turkish lira ($4.43 billion) in 2016, even though its overall home market could grow faster than the 3 percent it had previously forecast.The stronger market in Turkey is due to a recent government move to reduce a tax on white goods in order to spur demand. Still, the weak lira has made raw materials such as oil, steel and plastic more expensive, impacting profitability."There's a lot of uncertainty in the world," Bulgurlu said, also citing the weak pound that has caused inflationary pressure in Britain, which accounts for 10 percent of sales.The company had to raise prices on some UK products and expects that to temper demand, especially after there was a surge due to expectations of future price rises."I think demand will taper off a little," Bulgurlu said, noting however that Arcelik still aimed to double its business in Britain in the next five years, even as the country's exit from the European Union raises questions about the economy and the future of foreign workers."It will continue to be our most important market outside Turkey," he said.Arcelik opened a research and development center in Cambridge, eastern England, last year, in an effort to take advantage of a British tradition for scientific innovation."We want to tap into that and take that pure research and make it applicable to appliances," Bulgurlu said, citing potential for smart appliances such as refrigerators that know when food is going bad and ovens that can keep food cool until its time to cook.
 Saudi Arabia plans to tighten restrictions on foreign workers to pressure companies into hiring more Saudi citizens and reduce unemployment among Saudis, government sources said on Monday.</strongThe new policy could help the kingdom achieve one goal of economic reforms launched last year to ease joblessness among Saudis from the current 12.1 percent to 9 percent by 2020.But by making it harder for firms to employ low-paid foreign workers, thereby raising costs, the policy may complicate other aspects of the reform drive such as developing private sector businesses and diversifying the economy beyond oil.The new rules could potentially affect large numbers of people since about 12 million foreigners work in Saudi Arabia, doing many of the strenuous, dangerous and lower-paid jobs shunned by 20 million Saudi citizens. About two-thirds of Saudi workers are employed by the public sector.Under a program launched in 2011 and known as Nitaqat, the Labor Ministry grades firms according to the ratios of Saudis in their workforces. Companies with higher ratios get preferential treatment when obtaining visas for foreign workers or licenses; those in lower categories face penalties.Under the new policy, construction firms with between 500 and 2,999 workers would have to employ 100 percent Saudis to be in the top "platinum" category; if they employ 10 percent, they are rated "lower green". This compares to current levels of 16 percent for platinum and 6 percent for lower green.In the retail sector, a large company's current percentages are 35 percent for platinum and 24 percent for lower green. This would rise to 100 percent for platinum and 35 percent for lower green, according to an official document seen by Reuters.Policy will also tightened in many other sectors, according to the document, which lists more than 60 industries in which restrictions will be applied.Some change is already occurring in Saudi employment practice, with many citizens now working as cashiers and sales people in retail shops - the sort of jobs previously seen as undesirable. But there is still a scarcity of Saudis willing and qualified to work in the construction sector.The tighter policy has been approved by Labor Minister Ali bin Nasser al-Ghafis, the sources said. It is scheduled to take effect on Sept. 3, one source said, declining to be named because an official announcement has not yet been made.
 A Chinese rail company has won a contract in the United States recently despite President Donald Trump�s �America First� campaign and promise to support local industry.</strongTrain and rail equipment manufacturer, China Railway Rolling Stock Corp won the contract beating Canada�s Bombardier Inc and South Korea�s Hyundai Rotem.Philadelphia city government on Thursday approved the purchase of 45 multilevel coaches from the Chinese train giant's subsidiary, CRRC MA, for its regional rail network, People�s Daily reported Saturday.The contract award was based on technical ratings and pricing, said the authority, with CRRC's proposal offering the best value. The multilevel coaches will meet "Buy America" requirements, with 60 percent or more of the parts, labor and fabrication done in the US.CRRC MA came in with a low bid of $137.5 million, easily besting competitors Bombardier, which bid $171.5 million and the $187.8 million bid by Hyundai Rotem.CRRC MA's deal includes an option for 10 more cars, which, if exercised, would result in the contract's value rising to $161 million, still below the base bids by Bombardier and Hyundai Rotem.The first of the coaches are expected to be delivered in late 2019. They will be paired with SEPTA's new electric locomotives, which are being built by Siemens of Germany.<br/>The multilevel coaches will be produced primarily at CRRC MA's main US manufacturing facility in Springfield, Massachusetts.It is the latest win for CRRC. Last week, CRRC Sifang America broke ground in Chicago for a $100 million plant that will build railcars for the city's transit authority.
 Dubai International Airport and its flag carrier Emirates began implementing a ban on laptops and tablets on direct flights to the US Saturday, on one of the busiest travel weekends of the year.</strong1.1 million people are expected to pass through the busiest international airport as the city marks UAE spring break, Dubai Airports� senior vice president for communications Anita Mehra said.An estimated 260,000 travellers were expected to pass through each day from Friday through Monday. Dubai International Airport expects 89 million passengers this year.The United States announced a ban on all electronics larger than a standard smartphone on board direct flights out of eight countries across the middle East. US officials would not specify how long the ban will last, but Dubai-based Emirates told AFP that it had been instructed to enforce it until at least October 14.Travellers using 10 airports across the Middle East and North Africa are subject to the ban.The ban also covers all electronics sold at Dubai Duty Free, Dubai Airports CEO Paul Griffiths told local radio earlier this week.Government-owned Emirates operates 18 flights daily to the United States out of Dubai. In an attempt to appease its customers, the airline announced it would be offering complimentary packing and shipping services at gates to enable passengers to use their electronic devices after check-in and until boarding.Adding to the complication on Saturday, a number of flights out of Dubai and Abu Dhabi airports were delayed due to thunderstorms, including an Emirates flight to Houston.The US ban affects nine airlines from eight countries: Turkey, Morocco, Jordan, Egypt, the United Arab Emirates, Qatar, Saudi Arabia and Kuwait.Britain has also announced a parallel ban, effective Saturday, targeting all flights out of Egypt, Turkey, Jordan, Saudi Arabia, Tunisia and Lebanon.Abu Dhabi, home to UAE national carrier Etihad Airways, is one of the few international airports with a US Customs and Border Protection Facility, which processes immigration and customs inspections before departure."All Etihad Airways guests travelling to the United States clear US Immigration and Customs at the US Preclearance facility in Terminal 3, the only one of its kind in the Middle East," read a statement emailed to AFP."When guests land in the US, they arrive as domestic passengers with no requirement to queue for immigration checks again."The bans have come under criticism for targeting majority-Muslim countries. The US ban in particular has raised eyebrows for covering airports from which US airlines do not operate direct flights.The United States and Britain have cited intelligence indicating passenger jets could be targeted with explosives planted in such devices.
 Former Prime Minister, Shaukat Aziz said on Sunday that the relationship between Pakistan and China has stood the test of time and the two countries are looking to deepen that relationship through the Belt and Road Initiative.</strong�The two countries have maintained a close friendship based on mutual respect, peace and harmony and the relationship is not against any third country,� Aziz told �China Daily� on the sidelines of the Boao Forum for Asia in Hainan province.He said, the two countries already have cooperated closely on multiple infrastructure projects under the Belt and Road Initiative and will on more projects that will take place in the future.Shaukat Aziz said, the Belt and Road Initiative have strengthened the links between China and Pakistan in the areas of telecommunication, transport and digitalization.Aziz also expressed high expectations of Chinese President Xi Jinping, who he sees as a �great leader� and �man of peace� who is doing what it takes to move China forward.
 Uber has grounded its fleet of self-driving cars pending an investigation into the crash of an Uber autonomous vehicle in Arizona, a spokesperson for the car-hailing service said Sunday.</strongNo one was seriously injured in the accident which occurred Friday in Tempe, Arizona while the vehicle -- a Volvo SUV -- was in self-driving mode, the company said."We are continuing to look into this incident and can confirm we had no backseat passengers in the vehicle," the Uber spokesperson said.The accident occurred when the other vehicle "failed to yield" while making a left turn, Tempe police spokeswoman Josie Montenegros said."The vehicles collided causing the autonomous vehicle to roll onto it�s side. There were no serious injuries," she said.Self-driving Uber vehicles always have a driver who can take over the controls at any time.Montenegro said it was uncertain whether the Uber driver was controlling the vehicle at the time of the collision.The company grounded its self-driving vehicles in Arizona after the accident, and then followed up on Saturday pulling them off the road in Pittsburg and San Francisco, the two other locations where it operates self-driving vehicles, the company said.The car-hailing service has been dented by a series of bad news stories, including disclosures about a culture of sexism, cut-throat workplace tactics and covert use of law enforcement-evading software.A number of executives have left the company in recent weeks, including president Jeff Jones, as troubles have mounted.Advocates of self-driving cars say that they can cut down on deadly traffic accidents by eliminating human error.But there have been accidents, including a fatality in Florida in May when a truck struck a speeding Tesla that was on autopilot.An investigation found no safety-related defects with the autopilot system, but concluded that the driver may have had time to avert the crash if he had been paying closer attention.
 Byco Oil Pakistan Limited raised 3.12 billion rupees via sukuk using a credit gurantee and Ghani Gases raised 1.3 billion rupees via a privately-placed sukuk last month.In December, Fatima Fertilizer Company mandated banks to raise 10.5 billion rupees through a lease-based sukuk.Pakistan GasPort Consortium Limited plans to raise 8.6 billion rupees via seven-year sukuk to finance the construction of the country's second LNG import terminal.
Prime Minister Nawaz Sharif has proposed establishment of a Pakistan-Kuwait Joint Business Council for promotion of trade relations between the two countries.He was talking to Prime Minister of Kuwait Sheikh Jaber Al Mubarak Al-Hamad at Bayan Palace in Kuwait on Tuesday.The Prime Minister pointed out that Pakistan and Kuwait have been economic and trade partners for long and Pakistan wished to further enhance its relations with Kuwait in all spheres. The Joint Ministerial Commission provides the best platform to take stock of bilateral cooperation in various economic sectors and setting new benchmarks to carry this cooperation forward.Referring to the level of bilateral trade between the two countries, the prime minister reiterated that this needed to be further enhanced to its fullest potential. Encouraging greater private sector interaction could enhance the existing level of trade as well as bridge the imbalance in existing trade patterns.Nawaz Sharif said over 114,000 Pakistanis live in Kuwait which was evidence of the strong ties existing between the two countries. It also confirmed the immense importance that Pakistan attaches to relations with Kuwait.Nawaz Sharif also emphasized the importance of early resumption of GCC- Pakistan Free Trade Agreement negotiations with the support of Kuwait and most importantly spoke of the need for lifting of visa restrictions as it would remove a major hurdle in freedom of movement for the business community.He stressed that Pakistan was an investment friendly country and an attractive destination for foreign investors, due to its liberal investment policy and high rate of return.There are ample opportunities for investors, with one hundred percent equity or joint ventures in Pakistan. Over 1,000 leading multinational companies are currently successfully operating in various sectors of our economy.The Prime Minister said there were a number of energy and infrastructure development projects in Pakistan that could be considered by foreign investors. He said we would welcome further investments from Kuwait in mega infrastructure and energy projects being undertaken in Pakistan.Earlier, Nawaz Sharif was accorded a warm welcome upon arrival at the Bayan Palace with Guard of Honor.Meanwhile, talking to Speaker of Kuwaiti Parliament Marzouq Al-Ghanim in Kuwait City, the Prime Minister emphasized the need for greater parliamentary exchanges between Pakistan and Kuwait.He said these exchanges will enhance relations between the two countries.Speaker Marzouq briefed the Prime Minister about the proceeding of Kuwaiti Parliament.
 With related major energy and infrastructure projects being in full swing, China-Pakistan Economic Corridor (CPEC) has become the center-point where transit trade routes converge linking Russia with Central Asia.</strongPakistan has also provided a special security division to secure CPEC from all dangers, a Chinese official website �China.org.cn� opined on Tuesday.The Belt and Road (B&amp;R) kicked off with the CPEC, the first of its six corridors and the linchpin of the B&amp;R strategy, as it unlocks Central Asia, connects to Xinjiang, leads down to Gwadar port and then onwards to Africa, Iran and the Middle East.All this economic activity has also brought about a major geopolitical realignment in the form of the China-Russia-Pakistan power troika, an equation which, provides economic benefit while it addresses mutual security concerns.It also consolidates the entire region vis-a-vis the new dimension of U.S.-India ties. The B&amp;R initiative is a vital combination of geo-economics and geo-strategy.The Belt and Road (B&amp;R) is an innovative paradigm of global integration involving 65 countries, including one-third of the world�s GDP, impacting 65 percent of the world�s population and a quarter of all the goods and services, the website observed.Chinese President Xi Jinping announced the Belt and Road Initiative in late 2013. It comprises the �Belt,� which is a network of roads across the world, and �the Road� which is actually a network of shipping lanes and ports.The project has a geo-strategic component focused on advancing China�s economic goals and utilizing its industrial potential. It serves to remove China�s dependence on the Malacca Strait for oil imports, improves trade connectivity, furthers China�s foreign policy and minimizes conflicts as it reconnects the world.This project of the century has kept the world economy afloat since 2013 by withstanding the crash of the trans-Atlantic banking systems.As PricewaterhouseCoopers reports, the �real value� in China�s economy and its investments in countries along its Belt and Road initiative is shifting to infrastructure projects and rising at a rapid pace.The B&amp;R is to be financed mainly by the Silk Road Fund and the Asia Infrastructure Investment Bank. Additionally, the collapse of the Trans-Pacific Partnership provides Beijing with the perfect opportunity to re-integrate Asian investment that used to find its way to American banks.Further prospects and direction of the B&amp;R initiative will be determined at the �two sessions� as the project is an integral part of China�s new reforms and an intrinsic part of its foreign policy.China is going to hold the Belt and Road forum this May and it would be a masterstroke by China if more countries like U.S. and India announce their participation or signal their approval with their presence at this forum; the great game is never really over and there is much more scope in Chinese wisdom and peaceful globalization in the Eurasian Century.
 Kuwait is building one of the world�s longest causeways to its remote north where it will pump billions into "Silk City", aiming to revive the ancient Silk Road trade route.</strongThe oil-rich emirate is eager to inject life into the uninhabited Subbiya region on its northern tip that has been chosen as the location for Silk City.The plan is to reinvigorate the ancient Silk Road trade route by establishing a major free trade zone linking the Gulf to central Asia and Europe.The 36-kilometre (22-mile) bridge, three-quarters of it over water, will cut the driving time between Kuwait City and Subbiya to 20-25 minutes from 90 minutes now.img alt="" class="full-image" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/212121.jpg"/Investment in the Silk City project is expected to top $100 billion, and a 5,000-megawatt power plant has already been built in Subbiya.At a cost of 904 million dinars ($3.0 billion), the Sheikh Jaber Al-Ahmad Al-Sabah Causeway, named after the emir who died in January 2006, is one of the largest infrastructure ventures in the region.It is already nearly three-quarters completed.Despite the sharp drop in oil income which made up 95 percent of public revenues, the emirate has pledged to keep spending on capital projects almost intact.strong>- �A strategic link� -</strongKuwait boasts a $600-billion sovereign wealth fund, and is in the middle of a five-year development plan stipulating investments worth $115 billion."The causeway project is a strategic link connecting Kuwait City to the northern region," said Ahmad al-Hassan, assistant undersecretary for road engineering at the public works ministry.He told AFP that in addition to the fully integrated residential Silk City, other economic ventures are planned for Subbiya and its surroundings.A large container port is also under construction on nearby Bubiyan, Kuwait�s largest island.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/892739.jpg" width="650"/Completing the causeway and harbour projects will pave the way for transforming the area into a commercial and investment hub with a free trade zone planned on five small islands nearby.The causeway project consists of the main bridge north to Subbiya and a 12.4-kilometre (7.7-mile) bridge running west, dubbed the Doha Link.The two bridges start from the same point at Shuwaikh Port, the country�s main commercial port."If we take the Subbiya bridge alone, it is the fourth longest in the world," Hassan said.The Lake Pontchartrain Causeway in the United States is the world�s longest bridge over water, stretching 38.44 kilometres (23.8 miles).The two Kuwaiti bridges are scheduled for completion in November next year, project engineer Mai al-Messad said.strong>- Economic gateway -</strong"We have already completed 73 percent of the project and hope to finish it ahead of the contractual period," Messad told AFP.The Subbiya bridge sits on more than 1,500 piles with a diameter of up to three metres (10 feet) each, some of which have been driven as deep as 72 metres (240 feet) into the loose clay seabed, Messad said.The bridge is between nine metres and 23 metres (30 feet and 75 feet) above sea level.The Silk City project itself has been proceeding at a slow pace, but the government recently sent a draft bill to parliament to establish a special authority to oversee development in the area.Parliament is expected to start debating the bill soon.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/334434.jpg" width="650"/Under the original blueprint, the city�s completion date was 2030 and was to include a 1,001-metre (3,284-feet) tower and a population of 700,000.In late 2015, the cabinet gave the green light to establish a free economic zone on the five islands near Subbiya and the coastlines of Iraq and Iran.It is hoped that once complete, the zone, spread over several thousand square kilometres (square miles), will become the economic gateway to the northern Gulf.However, nothing tangible has yet been done to advance the free economic zone project itself.The Subbiya Causeway contract was awarded to a consortium led by South Korea�s Hyundai Engineering and Construction Co. along with Kuwait�s Combined Group Contracting Co.Another South Korean firm, GS Engineering &amp; Construction, won the smaller Doha Link contract.
 Russia and Turkey signed a memorandum on Friday creating a joint investment fund into which each country will invest up to $500 million.The Russian Direct Investment Fund (RDIF) and T�rkiye Wealth Fund (TWF) signed the memorandum in the presence of Russian President Vladimir Putin and Turkish President Tayyip Erdogan during a visit by Erdogan to Moscow."A common approach to the investment process will promote the development of economic cooperation and make it more effective. RDIF and TWF are already in talks on a number of potential joint investment projects," Kirill Dmitriev, the head of the Russian fund said in a statement.The joint fund is one of the first international initiatives of the newly established T�rkiye Wealth Fund, Mehmet Bostan, its chief executive, said in the same statement.RDIF and TWF did not elaborate on the sectors into which the fund would invest. Russia's Kommersant newspaper reported earlier on Friday that the new fund would invest in healthcare and tourism.
 Dasu hydroelectric power project would provide more than 8,000 jobs to local residents while helping the Pakistan government modernize and expand the energy sector of the country, shifting from thermal generated electricity to clean, low-cost high reward hydroelectricity.</strongThe project, consisting of the main dam, affiliated facilities, a powerhouse, a residential complex and transmission lines, will also help boost the development of local industry, agriculture and tourism, �China Daily� reported on Friday.It said, China has contracted to build the project situated in remote mountainous terrain in the Upper Indus valley in the district of Kohistan of Khyber Pakhtunkhwa province.China Gezhouba Group Co Ltd has agreed to invest more than $1.72 billion for the construction of the main works of the 5,400 MW hydropower project.According to Deng Yinqi, vice president of CGGC, a member company of the China Energy Engineering Corporation, the power project on completion would be capable of generating 12 billion kilowatt hours annually.A Chinese newspaper �Global Times� quoting experts say, the project will benefit both Chinese enterprises and improve livelihoods in Pakistan.The CGGC said in a statement that the project will be one of the most difficult hydropower stations to build, and will have the largest capacity and investment in Pakistan.It will also alleviate local power shortages and create a large number of employment opportunities, it said. The project is expected to create 8,000 jobs for the local community, according to news portal people.com.cn.img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/34343.jpg" width="650"/Zhou Rong, a senior research fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, said it is worth noting that these employment opportunities will be brought to an underdeveloped region.�When people set foot on the path of prosperity, with the help of Chinese builders, they will develop a heartfelt feeling toward China, providing double assurance to the iron-clad relationship between China and Pakistan,� Zhou told the Global Times.The Dasu project is a flagship project of the China-Pakistan Economic Corridor (CPEC), a part of the Belt and Road initiative.Zhou noted, �this project getting the green light shows China�s efforts to make the development of the CPEC more balanced between the developed and undeveloped regions, and between safer and riskier regions of Pakistan.�img alt="" class="txtarea_aligncenter" height="380" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/23322.jpg" width="650"/Many of the CPEC projects are located in Punjab and Sindh, which makes economic sense as these more developed provinces are home to about 80 percent of the Pakistan population, but there are voices from other provinces that the CPEC should be more balanced.Zhou said the Dasu project demonstrates that the CPEC will benefit all of Pakistan.Lin Boqiang, director of the Center for Energy Economics Research at Xiamen University, said, �China has a strong hydropower industry. The success of huge projects like Dasu will lead to more cooperation in the future.
11 p.m. ET) fallen 42 cents, or 0.82 percent, to its lowest since Nov. 30 at $50.95 per barrel. It closed the previous session down 1.6 percent at $51.37 a barrel.U.S. West Texas Intermediate crude (WTI) declined 50 cents, or 1.03 percent, to $47.99 a barrel, its weakest since Nov.29.U.S. drillers added oil rigs for an eighth consecutive week, Baker Hughes said on Friday, as energy companies increased spending to take advantage of a recovery in crude prices since the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut output late last year.OPEC and other major oil producers including Russia reached a landmark agreement last year to cut production by almost 1.8 million barrels per day (bpd) during the first half of 2017.Overshadowing the cuts, crude inventories in the United States, the world's top oil consumer, surged last week by 8.2 million barrels. <br/> <br/> "With the market still digesting the big increase in inventories, oil prices are likely to remain under pressure today," ANZ bank said in a note.Hedge funds and other money managers cut their net long U.S. crude futures and options positions in the week to March 7, according to data from the U.S. Commodity Futures Trading Commission (CFTC) on Friday.
 A company owned by the family of President Donald Trump�s son-in-law, Jared Kushner, is set to receive more than $400 million from a Chinese firm that is investing in its Manhattan office tower, Bloomberg reported Monday.</strongThe Kushner Companies deal with Anbang Insurance Group for the property at 666 Fifth Avenue is worth $4 billion, with real estate experts calling it an unusually favorable deal for the Kushners, the report said.It would value the 41-story tower at $2.85 billion, the most ever for a single building in wealthy Manhattan.Anbang has "murky links to the Chinese power structure" and its previous investments in the United States have raised concerns over national security, Bloomberg said.The investment deal gives Kushner Companies a cash payout, an equity stake in a new partnership and refinancing of $1.14 billion in existing mortgage debt, said Bloomberg, which obtained details of the agreement which is being circulated to attract other investors.A large chunk of a $250 million loan will be forgiven, allowing it to be cleared for $50 million, the report said.Kushner Companies spokesman James Yolles was reported as saying that Jared Kushner has sold his stake in 666 Fifth Avenue so there is no conflict of interest.Kushner, the husband of Trump�s daughter Ivanka, stepped away from his business interests in property development and magazine publishing to take on a role as Trump�s senior advisor.
 Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world�s biggest oil exporter said on Tuesday, as prices fell below $48 a barrel.</strongOPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels per day (bpd) as part of a concerted effort to curb a global oil glut.Saudi Arabia "is committed and determined to stabilise the global oil market by working closely with all other participating OPEC and non-OPEC producers", the energy ministry said in a statement.An OPEC report released Tuesday said that Saudi Arabia reported an increase in oil production for February, saying it pumped 10.011 million bpd last month, up from 9.748 million bpd in January.But the energy ministry said the amount of crude it supplied to the market in February was 9.9 million bpd, down from 9.99 in January."The difference between what the market observes as production, and the actual supply levels in any given month, is due to operational factors that are influenced by storage adjustments and other month to month variables," it said.Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases in oil production, said last week that OPEC compliance with the output reductions had exceeded the target because of higher Saudi cuts, but non-OPEC compliance has been modest.
 The Xinjiang Uygur autonomous region will invest heavily in more high-speed railways and highways to build a high-quality transportation network that can truly support the Belt and Road Initiative.</strongThe region has decided to inject record funding of 170 billion yuan ($24.8 billion) into new roads, up nearly six fold from 2016, and investment in roads, railways and airports this year will top the total funding for transportation infrastructure from 2011 to 2015."Poor transportation infrastructure is the biggest obstacle for Xinjiang to become China's trade hub linking countries along the Silk Road Economic Belt," Shokrat Zakir, chairman of the region, said on Sunday.Northwest China's Xinjiang borders eight countries, including Pakistan and Kazakhstan with a border of more than 5,600 kilometers. Xinjiang was once a key transportation and trade hub on the ancient Silk Road.During this year's annual session of the National People's Congress, the Xinjiang delegation proposed the construction of high-speed railways linking the regional capital of Urumqi and southern Xinjiang's Kashgar, the starting point of the China-Pakistan Economic Corridor (CPEC), as well as another one connecting Urumqi and northern Xinjiang's Horgos, a land port on the China-Kazakhstan border.The delegation also proposed starting construction on the China-Kyrgyzstan-Uzbekistan railway, which has long been discussed and planned. The national lawmakers from Xinjiang believe it is urgent to start construction on the railway to enhance economic cooperation with the two Central Asian countries.A total of 223 westbound trains carrying construction materials, agricultural produce, garments and other merchandise traveled via nine cross-border routes linking Xinjiang to Central Asian countries in 2016, said Hu Kaijiang, director of the Xinjiang Economic and Information Commission.This year, Xinjiang plans to expand operations to run 400 westbound cross-border trains to facilitate exports of technology and equipment and seek new growth opportunities, Hu said.Geographic location, rich natural resources and preferential policies introduced to encourage opening-up have given Xinjiang advantages in becoming the core area on the economic belt, Shokrat said. Becoming a key player on the economic belt will also benefit the region's social development.Besides improving its transportation network, the region will focus on the development of key cities along the economic belt. Xinjiang aims to achieve more than 7 percent economic growth this year and to see "substantial" progress in making the region serve as the transportation, logistic, financial, cultural and medical center on the modern Silk Road, he added.
 Beijing's last large coal-fired power plant suspended operations on Saturday, meaning the capital has become China's first city with all its power plants fueled by clean energy.</strongThe Huangneng Beijing Thermal Power Plant was built up and put into operation in June 1999. It has five coal-fired units with a total installed capacity of 845,000 kilowatts and heating capacity of 26 million square meters.Du Chengzhang, general manager of the plant, said it is an efficient and environmental friendly plant with advanced emission treatment equipment. The plant has provided important support to the stable operation of Beijing's electric power system and the heat-supply system.After the suspension of the plant, about 1.76 million tonnes of coal, 91 tonnes of sulfur dioxide and 285 tonnes of nitrogen oxide emissions will be cut annually.According to a clean air plan by Beijing from 2013 to 2017, Beijing will build four gas thermal power centers and shut down the four large coal-fueled thermal power plants during the period.Another three plants which used to consume over 6.8 million tonnes of coal each year were closed in 2014 and 2015.Du said Huangneng will prepare to serve as an emergency heat source for the capital's heating system after operations cease.Three of the four gas thermal power have already been built and are in use.Beijing has 27 power plants, all fueled by clean energy with a total installed capacity of 11.3 million kilowatts.According to the city's plan, Beijing will build no more large-scale power plants.
 The World Bank on Sunday announced $57 billion in financing for sub-Saharan Africa over the next three fiscal years.</strongOf that total, $45 billion will come from the International Development Association, the World Bank fund that provides grants and interest-free loans for the world�s poorest countries.The package will also feature an estimated $8 billion in private sector investments from the International Finance Corporation, a private-sector branch of World Bank, and $4 billion will come from the International Bank for Reconstruction and Development, the bank�s unit for middle-income nations, World Bank president Jim Yong Kim said in a statement.Germany, which hosted a meeting of the G20 countries Friday and Saturday, said that a partnership called "Compact with Africa" would be a priority of its presidency this year of that club of powerful nations. Of all the countries in Africa, only South Africa is a G20 member."This represents an unprecedented opportunity to change the development trajectory of the countries in the region," Kim said."With this commitment, we will work with our clients to substantially expand programs in education, basic health services, clean water and sanitation, agriculture, business climate, infrastructure and institutional reform," he added.Kim left for Rwanda and Tanzania on Sunday in a show of World Bank support for the entire region.The new financing from the International Development Association will target 448 projects that are already underway in sub-Saharan Africa. The region accounts for more than half of the countries eligible for this kind of financing from the IDA, the bank said.
 Arcelik, the home appliances arm of Turkey's biggest industrial conglomerate Koc Holding, is working on acquisitions to speed up its international expansion, particularly in Asia, its chief executive said on Monday.</strongThe company, which sells washing machines, dryers and refrigerators under labels including Beko and Grundig, wants more such "white goods" brands, but could also look at small appliances such as coffee makers and food processors."(M&amp;A) is important because we have global ambitions," CEO Hakan Bulgurlu told Reuters in an interview in London.He forecast "significant demand growth" in southeast Asia and the Indian subcontinent, including Indonesia, Vietnam and the Philippines, as well as Bangladesh, Pakistan and India."They're all focus areas for us," he said.Geography is a much more important factor than price, Bulgurlu added. Arcelik could easily do another deal like last year's roughly $250 million purchase of Pakistan's Dawlance, but could also do something several times bigger, he said."We're opportunistic. We're not restricted on size in any way."Bulgurlu said international markets should account for 65 percent of Arcelik's sales this year, up from 60 percent in 2016, reaching 80 percent in a few years.Europe currently accounts for the large majority of international sales, though the company has a growing presence in Africa through its 2011 purchase of South Africa's Defy Appliances.GLOBAL UNCERTAINTYBulgurlu stood by Arcelik's forecast for revenue to grow 20 percent this year from 16.10 billion Turkish lira ($4.43 billion) in 2016, even though its overall home market could grow faster than the 3 percent it had previously forecast.The stronger market in Turkey is due to a recent government move to reduce a tax on white goods in order to spur demand. Still, the weak lira has made raw materials such as oil, steel and plastic more expensive, impacting profitability."There's a lot of uncertainty in the world," Bulgurlu said, also citing the weak pound that has caused inflationary pressure in Britain, which accounts for 10 percent of sales.The company had to raise prices on some UK products and expects that to temper demand, especially after there was a surge due to expectations of future price rises."I think demand will taper off a little," Bulgurlu said, noting however that Arcelik still aimed to double its business in Britain in the next five years, even as the country's exit from the European Union raises questions about the economy and the future of foreign workers."It will continue to be our most important market outside Turkey," he said.Arcelik opened a research and development center in Cambridge, eastern England, last year, in an effort to take advantage of a British tradition for scientific innovation."We want to tap into that and take that pure research and make it applicable to appliances," Bulgurlu said, citing potential for smart appliances such as refrigerators that know when food is going bad and ovens that can keep food cool until its time to cook.
 Saudi Arabia plans to tighten restrictions on foreign workers to pressure companies into hiring more Saudi citizens and reduce unemployment among Saudis, government sources said on Monday.</strongThe new policy could help the kingdom achieve one goal of economic reforms launched last year to ease joblessness among Saudis from the current 12.1 percent to 9 percent by 2020.But by making it harder for firms to employ low-paid foreign workers, thereby raising costs, the policy may complicate other aspects of the reform drive such as developing private sector businesses and diversifying the economy beyond oil.The new rules could potentially affect large numbers of people since about 12 million foreigners work in Saudi Arabia, doing many of the strenuous, dangerous and lower-paid jobs shunned by 20 million Saudi citizens. About two-thirds of Saudi workers are employed by the public sector.Under a program launched in 2011 and known as Nitaqat, the Labor Ministry grades firms according to the ratios of Saudis in their workforces. Companies with higher ratios get preferential treatment when obtaining visas for foreign workers or licenses; those in lower categories face penalties.Under the new policy, construction firms with between 500 and 2,999 workers would have to employ 100 percent Saudis to be in the top "platinum" category; if they employ 10 percent, they are rated "lower green". This compares to current levels of 16 percent for platinum and 6 percent for lower green.In the retail sector, a large company's current percentages are 35 percent for platinum and 24 percent for lower green. This would rise to 100 percent for platinum and 35 percent for lower green, according to an official document seen by Reuters.Policy will also tightened in many other sectors, according to the document, which lists more than 60 industries in which restrictions will be applied.Some change is already occurring in Saudi employment practice, with many citizens now working as cashiers and sales people in retail shops - the sort of jobs previously seen as undesirable. But there is still a scarcity of Saudis willing and qualified to work in the construction sector.The tighter policy has been approved by Labor Minister Ali bin Nasser al-Ghafis, the sources said. It is scheduled to take effect on Sept. 3, one source said, declining to be named because an official announcement has not yet been made.
 A Chinese rail company has won a contract in the United States recently despite President Donald Trump�s �America First� campaign and promise to support local industry.</strongTrain and rail equipment manufacturer, China Railway Rolling Stock Corp won the contract beating Canada�s Bombardier Inc and South Korea�s Hyundai Rotem.Philadelphia city government on Thursday approved the purchase of 45 multilevel coaches from the Chinese train giant's subsidiary, CRRC MA, for its regional rail network, People�s Daily reported Saturday.The contract award was based on technical ratings and pricing, said the authority, with CRRC's proposal offering the best value. The multilevel coaches will meet "Buy America" requirements, with 60 percent or more of the parts, labor and fabrication done in the US.CRRC MA came in with a low bid of $137.5 million, easily besting competitors Bombardier, which bid $171.5 million and the $187.8 million bid by Hyundai Rotem.CRRC MA's deal includes an option for 10 more cars, which, if exercised, would result in the contract's value rising to $161 million, still below the base bids by Bombardier and Hyundai Rotem.The first of the coaches are expected to be delivered in late 2019. They will be paired with SEPTA's new electric locomotives, which are being built by Siemens of Germany.<br/>The multilevel coaches will be produced primarily at CRRC MA's main US manufacturing facility in Springfield, Massachusetts.It is the latest win for CRRC. Last week, CRRC Sifang America broke ground in Chicago for a $100 million plant that will build railcars for the city's transit authority.
 Dubai International Airport and its flag carrier Emirates began implementing a ban on laptops and tablets on direct flights to the US Saturday, on one of the busiest travel weekends of the year.</strong1.1 million people are expected to pass through the busiest international airport as the city marks UAE spring break, Dubai Airports� senior vice president for communications Anita Mehra said.An estimated 260,000 travellers were expected to pass through each day from Friday through Monday. Dubai International Airport expects 89 million passengers this year.The United States announced a ban on all electronics larger than a standard smartphone on board direct flights out of eight countries across the middle East. US officials would not specify how long the ban will last, but Dubai-based Emirates told AFP that it had been instructed to enforce it until at least October 14.Travellers using 10 airports across the Middle East and North Africa are subject to the ban.The ban also covers all electronics sold at Dubai Duty Free, Dubai Airports CEO Paul Griffiths told local radio earlier this week.Government-owned Emirates operates 18 flights daily to the United States out of Dubai. In an attempt to appease its customers, the airline announced it would be offering complimentary packing and shipping services at gates to enable passengers to use their electronic devices after check-in and until boarding.Adding to the complication on Saturday, a number of flights out of Dubai and Abu Dhabi airports were delayed due to thunderstorms, including an Emirates flight to Houston.The US ban affects nine airlines from eight countries: Turkey, Morocco, Jordan, Egypt, the United Arab Emirates, Qatar, Saudi Arabia and Kuwait.Britain has also announced a parallel ban, effective Saturday, targeting all flights out of Egypt, Turkey, Jordan, Saudi Arabia, Tunisia and Lebanon.Abu Dhabi, home to UAE national carrier Etihad Airways, is one of the few international airports with a US Customs and Border Protection Facility, which processes immigration and customs inspections before departure."All Etihad Airways guests travelling to the United States clear US Immigration and Customs at the US Preclearance facility in Terminal 3, the only one of its kind in the Middle East," read a statement emailed to AFP."When guests land in the US, they arrive as domestic passengers with no requirement to queue for immigration checks again."The bans have come under criticism for targeting majority-Muslim countries. The US ban in particular has raised eyebrows for covering airports from which US airlines do not operate direct flights.The United States and Britain have cited intelligence indicating passenger jets could be targeted with explosives planted in such devices.
 Former Prime Minister, Shaukat Aziz said on Sunday that the relationship between Pakistan and China has stood the test of time and the two countries are looking to deepen that relationship through the Belt and Road Initiative.</strong�The two countries have maintained a close friendship based on mutual respect, peace and harmony and the relationship is not against any third country,� Aziz told �China Daily� on the sidelines of the Boao Forum for Asia in Hainan province.He said, the two countries already have cooperated closely on multiple infrastructure projects under the Belt and Road Initiative and will on more projects that will take place in the future.Shaukat Aziz said, the Belt and Road Initiative have strengthened the links between China and Pakistan in the areas of telecommunication, transport and digitalization.Aziz also expressed high expectations of Chinese President Xi Jinping, who he sees as a �great leader� and �man of peace� who is doing what it takes to move China forward.
 Uber has grounded its fleet of self-driving cars pending an investigation into the crash of an Uber autonomous vehicle in Arizona, a spokesperson for the car-hailing service said Sunday.</strongNo one was seriously injured in the accident which occurred Friday in Tempe, Arizona while the vehicle -- a Volvo SUV -- was in self-driving mode, the company said."We are continuing to look into this incident and can confirm we had no backseat passengers in the vehicle," the Uber spokesperson said.The accident occurred when the other vehicle "failed to yield" while making a left turn, Tempe police spokeswoman Josie Montenegros said."The vehicles collided causing the autonomous vehicle to roll onto it�s side. There were no serious injuries," she said.Self-driving Uber vehicles always have a driver who can take over the controls at any time.Montenegro said it was uncertain whether the Uber driver was controlling the vehicle at the time of the collision.The company grounded its self-driving vehicles in Arizona after the accident, and then followed up on Saturday pulling them off the road in Pittsburg and San Francisco, the two other locations where it operates self-driving vehicles, the company said.The car-hailing service has been dented by a series of bad news stories, including disclosures about a culture of sexism, cut-throat workplace tactics and covert use of law enforcement-evading software.A number of executives have left the company in recent weeks, including president Jeff Jones, as troubles have mounted.Advocates of self-driving cars say that they can cut down on deadly traffic accidents by eliminating human error.But there have been accidents, including a fatality in Florida in May when a truck struck a speeding Tesla that was on autopilot.An investigation found no safety-related defects with the autopilot system, but concluded that the driver may have had time to avert the crash if he had been paying closer attention.
 The New Development Bank plans to co-finance infrastructure projects with the Asian Infrastructure Investment Bank (AIIB) along the Belt and Road economies after more members join in, the NDB�s vice president said.</strong�There will be unlimited opportunities to co-finance projects with the AIIB in the future along the Belt and Road, because we share so much in common while selecting projects,� Leslie Maasdorp told China Daily during the Boao Forum for Asia.One year older than its peer multilateral bank AIIB, the NDB was opened in Shanghai in 2015, founded by the BRICS emerging economies, which include Brazil, Russia, India, China and South Africa.�We are both interested in investing in projects that are sustainable, commercially viable and have long term economic benefits,� he said. �Countries along the Belt and Road have huge demand for such projects, and we can work together to fill the infrastructural gap.�Future projects can be those that would produce spillover effects to neighboring economies, similar to the latest one approved by the NDB, an offshore wind project located in Xiamen, Fujian province, according to Maasdorp.Maasdorp said one major difference between the two banks is that the NDB now only focuses on meeting the demands of five founding members, because the capital comes from the five, while AIIB has a universal procurement policy.But the policy might change in the future as the NDB looks at new members in the coming years, Maasdorp said.Similar to AIIB, the bank is keeping its door open to all members in the United Nations, Maasdorp said.Maasdorp said the bank welcomes applicants along the Belt and Road. The ultimate membership composition would be 80 percent of developing countries and 20 percent of developed countries, as the NDB wrote in its founding documents.
 Karachi-based technology incubator, The Nest I/O organized �Startup Weekend� to bring together entrepreneurs and industry leaders to collaborate on ideas, polish them and take them to the next level.</strongGoogle-powered �Startup Weekend� event is a global campaign, which is organized in over 150 cities all over the world. In Karachi, it was held from 24th to 26th March.The 54-hour event brought together local entrepreneurs and industry leaders to collaborate on ideas, form teams, and pitch in front of a panel of judges. This year more than 80 attendees came together to form 27 teams, and worked on 60+ ideas ranging across a diverse mix of fields.During this period all teams were coached and mentored by a number of experts, carefully chosen by local organizers to make sure that all teams made the best product pitches possible.After four marathon sessions of pitching, team formation, building and presentation, the judges announced the winners.The winner of the event was �Mirror Magician�, a mirror that would take a picture using augmented reality and picture automation, while the runner up was �TrashIt�, a composting bin which enables people to dispose off their trash more efficiently.The second runner up was �Gardener�, an online gardening service, which provides gardening services through an App.img alt="" class="full-image" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/17425921_1295297090519477_8245902622336077088_n.jpg"/A special mention was also given to �Auctee�, a real-time auctioning service through secure accounts and �Champion Mango�, a service offering premium mangos with great packaging through a variety of distribution channels.Daniyal Zuberi, the brain behind Mirror Magican, was excited on winning the �amazing� competition. It was a wonderful 3-day journey that started with my idea being rejected and ended up by stealing the show, he said.The three winning teams were given trophies, while all attendees got participation certificates. dir="ltr" lang="en">Cool characters in the gardener app pitch <a href="https://twitter.com/hashtag/thenestio?src=hash">#thenestio</a> <a href="https://twitter.com/hashtag/swkhi17?src=hash">#swkhi17</a> <a href="https://twitter.com/hashtag/startupweekend?src=hash">#startupweekend</a> <a href="https://t.co/HYy3i4fasF">pic.twitter.com/HYy3i4fasF</aIt was fantastic event, here we learned the art of realizing our dreams, said Muhammad Samad, the co-founder of the winning idea.Sharing her excitement on the successful programme, Jehan Ara, The Big Bird at the Nest I/O, told The News �our mission is to empower the next generation of entrepreneurs in Pakistan�.img alt="" src="https://www.thenews.com.pk/assets/front/tiny_mce/source/17498484_1295293073853212_6040510996268407073_n.jpg"/The panel of judges comprising industry leaders, include Yusuf Jan, Co-Founder of Dotzero; Badar Khushnood, partner at Bramerz; Faizan Siddiqi, Managing Director Interlink Multi Media, a technology services company of the Jang Media Group; Rabia Garib , Co-Founder &amp; Chief Editor at TheNewSpaces; Midhat Fatima, Director at TEXT; Raza Matin, Marketing &amp; Business Consultant - Pakistan at Google; and Talha Izhar, Co-Founder &amp; COO at Bakeware.The judges seemed contented with the level of participation and the outcome. Yusuf Jan said, I'd say if every weekend was a 'Startup Weekend', youthful energy and passion to innovate and break all barriers and succeed�.Jehan Ara thanked the partners for supporting the event. We are fortunate to have the support of strong technology partners like �Google for entrepreneurs� whose mission aligns with ours, she added. <link href="https://www.thenews.com.pk//assets/front/css/photoswipe.css" rel="stylesheet"/> <link href="https://www.thenews.com.pk//assets/front/css/default-skin/default-skin.css" rel="stylesheet"/> <link href="https://www.thenews.com.pk//assets/front/css/site.css" rel="stylesheet"/> <script src="https://www.thenews.com.pk//assets/front/js/photoswipe.min.js"></script> <script src="https://www.thenews.com.pk//assets/front/js/photoswipe-ui-default.min.js"></script>