Karate team prepares for Asian Games 2014

ISLAMABAD: Pakistan karate team s preparations are in full swing for the upcoming Asian Games 2014 to be held in South Korea later this year.

National coach Khalid Noor said that the country s both male and female contingents had been working hard in the training camp here at Pakistan Sports Complex.

Total 17 male and 12 female players are attending the camp in two different sessions for rigorous physically and technical training according to the latest rules of the games for the Asia s mega event Noor added.

About performance of the players in the Asian Games, he said there were some brilliant players in the team who earned name in many international events.

“I m optimistic our players will produce good result in the Asian Games”, he said.

After featuring in the Asian Games Pakistan team would proceed to Germany for the 22nd edition of the World Karate Championships that takes place from November 5 to 9.

In an attempt to better prepare the side Pakistan has also planned tours of Turkey and Iran in August and September respectively the coach said.

Pakistan juniors make winning start at Asian snooker

MOHALI: Pakistan beat India in their opening match of the Asian Junior Snooker Championship in Mohali.

Pakistan’s Mohammad Majid Ali beat India’s Nikhil Sehgal 4-0.

In another match Pakistan’s Harris Nadeem beat Hong Kong’s Ming Wing Wa 4-3.

Asian shares mixed, eyes on Ukraine crisis

HONG KONG: Asian markets were mixed on Friday, with another upbeat lead from Wall Street overshadowed by concerns about the Ukraine crisis.

The euro maintained its momentum after a pick-up on Thursday fuelled by a healthy consumer confidence reading from Germany, while the dollar also edged higher against the yen.

Tokyo added 0.77 percent and Sydney was up 0.24 percent but Hong Kong dipped 0.55 percent, Seoul was 0.30 percent lower and Shanghai eased 0.10 percent.

US shares ended mostly higher on Thursday following another round of impressive corporate results as well as a second strong month of durable goods orders in March indicating the economy is rebounding from its winter slump.

The Nasdaq climbed 0.52 percent, boosted by a rally in Apple, which rose more than eight percent on better-than-expected earnings. The S&P 500 added 0.17 percent and the Dow was unchanged.

However, traders remain on edge over the situation in Eastern Europe. Russia on Thursday ordered new military exercises on the border of Ukraine and warned of "consequences" after Kiev launched a deadly assault against pro-Kremlin rebels occupying a flashpoint town.

Later US Secretary of State John Kerry accused Russia of a "full-throated effort to actively sabotage the democratic process through gross external intimidation" and described the military exercises as "threatening".

He also said Moscow had broken an agreement signed last week in Geneva aimed at easing tensions, adding that refusal to take any steps to end the crisis would "not just be a grave mistake, it will be an expensive mistake".

The veteran diplomat added "we are ready to act" as Washington tees up new economic sanctions against Moscow.

On currency markets the euro edged up to $1.3833 and 141.65 yen from $1.3830 and 141.53 yen in New York, boosted by news that the Ifo economic institute´s closely watched German business climate index rose in April following a dip in March.

The dollar fetched 102.41 yen, against 102.32 yen in New York late Thursday.

Traders were largely unmoved by data showing Japanese inflation rose for a 10th straight month in March, with rising energy costs behind the increase.

Oil prices rose. New York´s main contract, West Texas Intermediate for June delivery, was up seven cents at $102.01 and Brent North Sea crude for June climbed 16 cents to $110.49.

Gold fetched $1,291.96 an ounce at 0240 GMT compared with $1,271.96 on Thursday. (AFP)

Asian stocks mixed on Obama visit, US dip

TOKYO: Asian shares lacked a clear direction in early Thursday trading as players took a mostly wait-and-see view ahead of talks between Japan´s prime minister and visiting President Barack Obama.

Adding to the mixed view was the fall on Wall Street overnight, despite a solid earnings report from Apple Inc. that sent that issue higher. Other earnings reports were disappointing.

The Nikkei, the benchmark for the Tokyo Stock Exchange, lost 0.15 percent within the first hour of trading to 14,524.66. South Korea´s Kospi inched up 0.1 percent to 2,002.44.

Asia is abuzz this week with Obama´s arrival late Wednesday in Tokyo for the first state visit by an American president to Japan in nearly 20 years. He will later go to South Korea, Malaysia and the Philippines.

Focus is on what Obama and Prime Minister Shinzo Abe may say about negotiations on a wide-reaching trans-Pacific trade agreement, despite resistance from local interests on both sides to wiping out tariffs.

Sentiment on Asian markets were dampened by worries about the U.S. economy, highlighted by a surprise drop in new home sales as well as dismal earnings.

The Standard & Poor´s 500 index lost 4.16 points, or 0.2 percent, to 1,875.39. The Dow Jones industrial average lost 12.72 points, or 0.1 percent, to 16,501.65 and the Nasdaq composite fell 34.49 points, or 0.8 percent, to 4,126.97.Elsewhere in the world, stocks mostly slid Wednesday.

The pessimism overshadowed confirmation from the European Union that Greece achieved a primary surplus in 2013 — what´s left when interest payments are stripped out.

In Europe, the FTSE 100 index of leading British shares closed down 0.1 percent at 6,674.74 while Germany´s DAX fell 0.6 percent to 9,544.19. The CAC-40 in France ended 0.7 percent lower at 4,451.08.

The dollar was little changed in early Asian trading at 102.47 yen from 102.51 yen late the previous day. The euro was higher at $1.3820 from $1.3716.A barrel of benchmark New York crude was down 14 cents at $101.61. (AP)

Oil prices rebound in Asian trade

SINGAPORE: Oil prices rebounded in Asian trade Thursday as heightened tensions in Ukraine overshadowed data showing US commercial crude inventories reaching an all-time high.

New York´s West Texas Intermediate for June delivery, was up 30 cents at $101.74 a barrel in afternoon trade, and Brent North Sea crude for June rose 24 cents to $109.35.Both contracts tumbled Wednesday on the US stockpiles data, which indicate softer demand at a time of robust production in the world´s biggest oil consuming nation.

Stocks rose 3.5 million barrels to 397.7 million for the week ended April 18, official figures showed, larger than the 2.4 million expected by analysts.

"While key economic data from US and Europe will be released this week, oil markets will continue to be influenced by geopolitical events," said Sanjeev Gupta, who heads the Asia-Pacific Oil & Gas practice at professional services firm EY.

In Eastern Europe an agreement between Ukraine, Russia and Western powers in Geneva last week to pull the country from the brink of civil war appeared shaky after a gunfight on Sunday killed at least two pro-Moscow rebels.

On Wednesday, Russia hinted it will strike back if its "legitimate interests" in the former Soviet state are attacked after Kiev sent in forces to dislodge militants who have occupied government buildings there.

Asian shares mixed, eyes on Ukraine crisis

HONG KONG: Asian markets were mixed on Friday, with another upbeat lead from Wall Street overshadowed by concerns about the Ukraine crisis.

The euro maintained its momentum after a pick-up on Thursday fuelled by a healthy consumer confidence reading from Germany, while the dollar also edged higher against the yen.

Tokyo added 0.77 percent and Sydney was up 0.24 percent but Hong Kong dipped 0.55 percent, Seoul was 0.30 percent lower and Shanghai eased 0.10 percent.

US shares ended mostly higher on Thursday following another round of impressive corporate results as well as a second strong month of durable goods orders in March indicating the economy is rebounding from its winter slump.

The Nasdaq climbed 0.52 percent, boosted by a rally in Apple, which rose more than eight percent on better-than-expected earnings. The S&P 500 added 0.17 percent and the Dow was unchanged.

However, traders remain on edge over the situation in Eastern Europe. Russia on Thursday ordered new military exercises on the border of Ukraine and warned of "consequences" after Kiev launched a deadly assault against pro-Kremlin rebels occupying a flashpoint town.

Later US Secretary of State John Kerry accused Russia of a "full-throated effort to actively sabotage the democratic process through gross external intimidation" and described the military exercises as "threatening".

He also said Moscow had broken an agreement signed last week in Geneva aimed at easing tensions, adding that refusal to take any steps to end the crisis would "not just be a grave mistake, it will be an expensive mistake".

The veteran diplomat added "we are ready to act" as Washington tees up new economic sanctions against Moscow.

On currency markets the euro edged up to $1.3833 and 141.65 yen from $1.3830 and 141.53 yen in New York, boosted by news that the Ifo economic institute´s closely watched German business climate index rose in April following a dip in March.

The dollar fetched 102.41 yen, against 102.32 yen in New York late Thursday.

Traders were largely unmoved by data showing Japanese inflation rose for a 10th straight month in March, with rising energy costs behind the increase.

Oil prices rose. New York´s main contract, West Texas Intermediate for June delivery, was up seven cents at $102.01 and Brent North Sea crude for June climbed 16 cents to $110.49.

Gold fetched $1,291.96 an ounce at 0240 GMT compared with $1,271.96 on Thursday. (AFP)

Asian shares mixed, China manufacturing improves

HONG KONG: Asian markets were mixed on Wednesday following another Wall Street rally while a provisional report showed a slight improvement in Chinese manufacturing activity this month.

The dollar held on to recent gains against the yen, with traders keeping watch on US President Barack Obama´s visit to Asia that starts in Japan later in the day.

Tokyo rose 0.57 percent by the break, Sydney gained 0.69 percent and Seoul was up 0.21 percent but Shanghai eased 0.23 percent and Hong Kong was 0.30 percent off.

HSBC said its preliminary purchasing managers index (PMI) for China came in at 48.3 in April, up from 48.0 in March. While the figures points to a continuing contraction in manufacturing activity in the Asian economic giant, the rate has slowed.

A figure below 50 suggests shrinkage, while anything above points to growth.

The result will provide a little comfort to traders about the Chinese economy after data last week showed it grew 7.4 percent year on year in January-March, more than expected but sharply down from the previous three months.

"Domestic demand showed mild improvement and deflationary pressures eased, but downside risks to growth are still evident as both new export orders and employment contracted," HSBC economist Qu Hongbin said in a statement, according to Dow Jones Newswires.

Eyes are now on the release of early PMI figures for Europe and the United States later in the day after recent figures have pointed to a pick-up in the global economy.

On currency markets the dollar bought 102.63 yen against 102.60 yen in New York Tuesday, while the euro bought $1.3802 and 141.69 yen, compared with $1.3804 and 141.65 yen.

The Australian dollar fell to 93.14 US cents from 93.75 cents after data showed Australian inflation was lower than expected in the first three months of the year. The figures raise the possibility the country´s central bank will lower interest rates to boost the faltering economy.

In New York the three main indexes enjoyed another positive day following a series of deals between pharmaceutical giants Novartis, GlaxoSmithKline and Eli Lilly that shuffled more than $20 billion in assets.

Added to that were solid or strong earnings from Comcast, Lockheed Martin, Netflix, Travelers and Xerox, among others. The S&P 500 added 0.41 percent and the Nasdaq jumped 0.97 percent, with each index clocking up a sixth successive advance after earlier this month suffering heavy selling.

The Dow climbed 0.40 percent, a third straight gain.

Analysts will be watching Obama´s three-day visit -- the start of an Asian trip -- for any mention of a Pacific-wide trade zone that has stumbled in recent weeks over differences between the US and Japan on the auto and agriculture sectors.

Oil prices were up. New York´s main contract, West Texas Intermediate for June delivery, was up six cents at $101.81 in early Asian trading. Brent North Sea crude for June rose 16 cents to $109.43. Gold fetched $1,283.97 an ounce at 0242 GMT, compared with $1,291.73 on Tuesday. (AFP)

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Thursday as dealers weighed lingering concerns over the Ukraine crisis with a weaker-than-expected US stockpiles report, analysts said.

New York´s main contract, West Texas Intermediate for May delivery, was up 23 cents at $103.99 in mid-morning trade and Brent North Sea crude for June eased seven cents to $109.53.Singapore-based Phillip Futures said events in Eastern Europe continued "to peg crude prices at elevated levels" ahead of Geneva talks on Thursday between Ukraine, Russia, the European Union and Washington.

Foreign ministers involved in the talks will seek to diffuse the tense situation in the east of the country, where government forces trying to reassert control have faced pro-Russian resistance.

Traders fear that any full-scale armed conflict in the region will disrupt supplies and send oil and gas prices rocketing because Ukraine is a major conduit for Russian gas to western Europe.

A failure of Thursday´s talks could result in another round of sanctions against Russia.

Oil prices rise in Asian trade

SINGAPORE: Oil prices rose in Asian trade Tuesday on renewed fears about Ukraine after pro-Russian protesters seized government buildings in the eastern city of Donetsk.

New York´s main contract West Texas Intermediate (WTI) for May delivery rose 46 cents to $100.90 a barrel in mid-morning trade and Brent North Sea crude for May gained 31 cents to $106.13

Oil prices ease in Asian trade

SINGAPORE: Crude prices dropped in Asian trade Monday after rebels agreed to reopen two of the four blockaded oil terminals in eastern Libya, analysts said.

New York´s main contract West Texas Intermediate (WTI) for May delivery dropped 26 cents to $100.88 a barrel in mid-morning trade and Brent North Sea crude for May slid 82 cents to $105.90.

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in subdued Asian trade Friday as dealers stood on the sidelines bracing for the release of a key US jobs report, analysts said.

New York´s West Texas Intermediate for May delivery rose four cents to $100.33 a barrel in mid-morning trade while Brent North Sea crude for May was down two cents at $106.13.

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Thursday as investors weighed a surprisingly robust US stockpiles report with an expected return of Libyan supply after a months-long disruption in exports, analysts said.

New York´s West Texas Intermediate for May delivery eased 21 cents to $99.41 a barrel in mid-morning trade and Brent North Sea crude for May was up 12 cents at $104.91.

"There is some downward pressure from the Libyan side," Tan Chee Tat, investment analyst at Phillip Futures in Singapore, told AFP.

Tan said investors are digesting reports that the North African state, a member of oil producing cartel OPEC, may be close to reaching a deal with rebels who have blockaded oil terminals since July.

"This would release about 600,000 barrels of crude per day into the market," he said. Libyan exports have dwindled to around 250,000 barrels a day from 1.5 million following the blockade, initially sparked by protesters demanding jobs.

Negative sentiment over the prospective surge in global supply was however pared by an upbeat US stockpiles data that confounded market expectations.

The US Energy Information Administration said Wednesday American crude inventories slid 2.4 million barrels in the week to March 28, contrary to analyst expectations for a gain of 700,000 barrels.

The latest figures suggest higher demand in the world´s top crude consumer, though the figures may have been distorted by a transport bottleneck after an oil spill shut down a key Texas coast channel last week.

Tan said investors will next be closely watching US jobless claims figures out later Thursday for clues about the strength of recovery in the US economy.

Asian Parliamentary Assembly to be made vibrant: Nayyer Bokhari

ISLAMABAD: Chairman Senate and President of Asian Parliamentary Assembly Syed Nayyer Hussain Bokhari on Wednesday reiterated the commitment to reinvigorate Asian Parliamentary Assembly (APA) to its fullest potential.
He said it is aimed at achieving the objectives envisaged in Islamabad Declaration, whic was adopted during the 6th Plenary in Pakistan last December.
He said that APA is an important forum and collective efforts would be made to realise the dream of establishment of Asian Parliament come true.
He expressed these views while talking to Dr. M.H Nejad Hosseinian, Secretary General APA in a meeting here.
The Chairman Senate observed that Asian region is faced with common challenges and member states share commonality of views on issues being faced by the region.
As President of APA, the Chairman Senate stated that he would play an active role to give a practical shape to the line of action delineated in the Islamabad Declaration.
It is pertinent to mention here that Chairman Senate was elected as the President of the Asian Parliamentary Assembly for two years during the 6th Plenary of APA.
The Chairman Senate also highlighted the importance of bilateral relations between Pakistan and Iran.
He observed that Pakistan desires to further strengthen ties for mutual benefit.
APA Secretary General Dr. M.H Nejad Hosseinian appreciated the remarks of the Chairman Senate and expressed the hope that under the leadership of Syed Nayyer Hussain Bokhari as President of APA, the forum would be able to play an active role for regional integration and prosperity of the member states.
Modalities with regard to organizing Troika Plus meeting were also discussed during the meeting.
The Secretary General APA assured all his support for operation and administration of Troika Plus meeting.