Thursday, September 27, 2007

Mercedes-F700

 

 

 

Thanks and Regards,

Ali Saqib Janjua

Associate I Financial Institutions I Client Relationships

Tel: 009221-2450992

Fax: 009221-2416416

E-mail: ali.janjua@pk.standardchartered.com

 

 

 

 

 

 

All great things start from a dream, so this was a dream

 

1

 

But they worked hard to make it reality

 

2

 

Yes they succeeded

 

3

 

Its not a toy, its real

 

5

 

 

It is out there on the road, ( for a test drive)

 

5

 

Oh shut up and let me look at the car....

 

 

 

You get this car and u get girls like her for free ... Really!

 

 

Thursday, September 20, 2007

IHT.com Article: Pakistan schedules presidential election for Oct. 6

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------------------------------------------------------

Pakistan schedules presidential election for Oct. 6
The Associated Press
Thursday, September 20, 2007

General Pervez Musharraf will seek a new five-year term as president in an election scheduled Oct. 6, officials said Thursday, even as his opponents urged the courts to stop him from running and vowed to quit Parliament in protest.


After Musharraf signaled his plan to resign as head of the Pakistani Army if he is re-elected, the Election Commission announced that the vote by federal and provincial lawmakers would be held early next month.


Musharraf, who seized power in a coup in 1999, aims to stay on as president despite a sharp drop in his popularity and growing pressure for the restoration of democracy. The governing coalition says it has enough votes to re-elect him.


Opposition parties are threatening to boycott the vote to deny it legitimacy. There is no sign they will field a candidate of their own.


Government officials confirmed that Musharraf intended to run. Information Minister Mohammed Ali Durrani said the announcement of the election date was "a good day in the history of Pakistan."


Musharraf's current term expires Nov. 15.


The main threat to Musharraf's plan appears to be its disputed legality. The Supreme Court continued Thursday to hear a raft of complaints, including those over recent changes to the election rules that favor Musharraf.


A ruling on the general's eligibility could be handed down within days.


Opponents - including Nawaz Sharif, an exiled former prime minister whose government fell to Musharraf's coup eight years ago, and a six-member alliance of Islamist parties - said their lawmakers would quit if the Election Commission accepted Musharraf's nomination papers.


They vowed to mount street protests as well as more legal challenges to stop the president.


"The letter and the spirit of the Constitution do not permit President Musharraf to be a candidate," said Sadiq ul-Farooq, a leader of Sharif's party, the Pakistan Muslim League.


The deputy information minister, Tariq Azim, dismissed the concerns of the opposition.


"The opposition should come up with its own candidate to participate in the contest, if they have any," he said.


The party of another former prime minister, Benazir Bhutto, whose talks with Musharraf over a possible power-sharing deal have stalled, has threatened to join the opposition boycott unless the president relinquishes his army post first.


Musharraf became a key ally of the United States after the Sept. 11, 2001 terrorist attacks there and the subsequent U.S. offensive in Afghanistan.


As well as facing calls for the restoration of democracy, he is struggling to contain a surge in violence by Taliban and Qaeda militants.


In the latest attack, a bomb exploded outside a hotel in the northern city of Swat on Thursday, killing a police officer and wounding four hotel guards, the police said.


<strong>Qaeda targets Pakistani chief</strong>
Osama bin Laden will soon make public a message declaring war on Musharraf, Al Qaeda announced Thursday, according to The Associated Press in Cairo.


The announcement was made as Qaeda released a new video in which bin Laden's deputy, Ayman al-Zawahri, boasted that the United States was being defeated in Afghanistan, Iraq and other fronts.


Speakers in the video promised continued fighting in Afghanistan, North Africa and the Darfur region of Sudan.


The messages are part of a stepped-up propaganda campaign by Qaeda around the anniversary of the Sept. 11 attacks by Islamic terrorists against the World Trade Center in New York and the Pentagon.


Earlier this month, bin Laden made public two messages - including his first appearance in a new video in nearly three years.


A banner posted on an Islamic militant Web site Thursday advertised that another message would be issued, although it did not say whether bin Laden would appear in a video or speak in an audiotape.


"Soon, God willing: 'Come to Jihad' from Sheik Osama bin Laden, God protect him," the banner read.


"Urgent, Al Qaeda declares war on the tyrant Pervez Musharraf and his apostate army, in the words of Osama bin Laden," the banner added.


Such advertisements usually precede the release of a video by one to three days, according to IntelCenter, a U.S. counterterrorism group that monitors militants' messages.

http://www.iht.com/articles/2007/09/20/asia/pakistan.php

Tuesday, September 18, 2007

FW: IHT.com Article: Formula One tells its spy story

------------------------------------------------------

Formula One tells its spy story
By Brad Spurgeon International Herald Tribune
Saturday, September 15, 2007

A day after the world of Formula One was shocked by a $100 million fine
over spying, the racing federation on Friday revealed some extraordinary
details of the scandal.


In a 15-page account - including details from e-mails and cellphone
text messages - the International Automobile Federation explained its
punishment of the previous day against McLaren Mercedes. What came out
was a tale of intrigue, and insight into the workings of the pinnacle of
motor racing.


In Formula One, each team spends hundreds of millions of dollars each
season to build a car to gain precious seconds on the competition.
Sharing intellectual property is, to a degree, part of the game, with
teams employing photographers to take pictures of the elaborate
technology belonging to the opposition to garner the slightest
advantage.


But the federation concluded that the McLaren team probably had gained
an unfair advantage by obtaining data from its rival Ferrari. On
Thursday, in addition to the fine, it excluded McLaren from the
constructors' championship this season.


The case first broke in the media in the days leading up to the British
Grand Prix on July 8. But its beginnings can be traced to the retirement
from Ferrari of Michael Schumacher last year after 11 seasons with the
team, and the resulting sabbatical of Ross Brawn, the team's technical
director.


Nigel Stepney, a right-hand man to Brawn, was unhappy about his new
boss. According to the federation report, as early as the first race of
the season in mid-March, the Australian Grand Prix at Melbourne, Stepney
began to communicate with his friend and former colleague, Mike
Coughlan, McLaren's chief designer, about details on Ferrari's car and
team strategy.


When the scandal broke in July, it focused only on a 780-page document
found at Coughlan's home in England.


Ferrari claimed that it had been tipped off about the document by an
employee of a copy shop in Woking, England, where McLaren is based, as
the employee was a Ferrari fan and became suspicious about the document.
But, according to Stepney, in an interview with the British media in
early July, Ferrari had been following his movements all season.


On July 4, McLaren said that the data had not been transferred to the
car or used by anyone else within the company, and that it had been an
isolated incident involving a rogue employee.


But the evidence issued Friday suggests otherwise. Coughlan and Stepney
were shown not only to be communicating regularly since before the first
race of the season - won by Kimi Raikkonen of Ferrari - but also to
be contact with two drivers of the McLaren tam.


Coughlan had worked with the McLaren test driver, Pedro de la Rosa, on
another team years ago. Coughlan shared some information in e-mail
exchanges with de la Rosa.


"Hi Mike, do you know the Red Car's Weight Distribution?" de la Rosa
wrote in an e-mail to Coughlan on March 21, three days after the first
race. "It would be important for us to know so that we could try it in
the simulator." At the hearing Thursday, de la Rosa confirmed that
Coughlan had responded by text message "with precise details of
Ferrari's weight distribution."


De la Rosa then sent an e-mail to Fernando Alonso, the McLaren driver
and reigning world champion, setting out the Ferrari's weight
distribution to two decimal places on each of Ferrari's two cars as they
were set up for the Australian Grand Prix.


"Its weight distribution surprises me," Alonso responded in an e-mail.
"I don't know either if it's 100 percent reliable, but at least it draws
attention." De la Rosa responded on 25 March, saying: "All the
information from Ferrari is very reliable. It comes from Nigel Stepney,
their former chief mechanic."


De la Rosa then mentioned to Alonso in the e-mail that in the first
race of the season, Stepney was "the same person who told us" before the
race the exact lap on which Raikkonen would make his first pit stop in
the Ferrari.


Other information provided included such things as a special gas that
Ferrari used to inflate its tires to reduce the internal temperature and
blistering of the rubber.


"We'll have to try it, it's easy," de la Rosa wrote to Alonso.


E-mail exchanges continued through April, when de la Rosa asked Coughlan
for details on Ferrari's braking system, and Coughlan told him.


In June, Ferrari started proceedings in court in Modena, Italy, against
Stepney.


The Italian police provided the racing federation with evidence that
showed Coughlan and Stepney had exchanged 288 text messages and 35
telephone calls between March 11 and July 3.


For the federation, this evidence seemed to nullify the argument that
two rogue employees had simply been sharing data.


"The advantage gained may have been as subtle as Coughlan being in a
position to suggest alternative ways of approaching different design
challenges," the report says.


The report says that the evidence led the federation "to conclude that
some degree of sporting advantage was obtained, though it may forever be
impossible to quantify that advantage in concrete terms."


After the report was released Friday, Dennis continued to deny that the
team had gained any advantage and he also pointed out that he had
himself supplied some of the final evidence after he learned about it at
the Hungarian Grand Prix on Aug. 5.


"We now have seven days to appeal and are carefully considering the
company's position once we have a full understanding of the FIA's
findings," Dennis said, referring to the federation.

http://www.iht.com/articles/2007/09/14/business/prix.4-134266.php

FW: IHT.com Article: Barclays wins shareholder backing for ABN AMRO bid

------------------------------------------------------

Barclays wins shareholder backing for ABN AMRO bid
By James Kanter International Herald Tribune
Friday, September 14, 2007

The British bank Barclays won shareholder backing on Friday for its offer for ABN AMRO of the Netherlands, now worth about €58 billion. But a rival bid and ongoing turbulence in financial markets left the outcome of the world's biggest banking battle still uncertain.


The chief executive of Barclays, John Varley, said a tie-up with ABN AMRO still made sense because it offered "growth, certainty and deliverability." But he acknowledged that the $80 billion offer, which is mostly in shares, had lost value since a recent slump in bank stock prices due to the crisis over risky mortgage loans in the United States.


Varley said the offer now was worth about €5.50 less per share than another offer by Royal Bank of Scotland, Fortis Group of Belgium and Banco Santander Central Hispano. Theirs is worth about €70 billion.


Varley said Barclays was "prepared to walk away" if it failed to strike a deal with ABN AMRO on the right terms - a strong hint Barclays would not raise its bid. But he also said the fight was far from over because the share price of ABN AMRO was significantly trailing the rival bidders' offer price.


In a normal situation, the price of ABN AMRO should have jumped to match the best offer price, but some analysts say investors are skeptical that the consortium will be able to raise the money for its bid in current market conditions.


"The stock market, which is seldom wrong about these things, is indicating at the moment that the outcome is far from certain," Varley said.


ABN AMRO next week will issue a so-called reasoned opinion, which will compare the offers by Barclays and by the consortium, although it may not necessarily make a recommendation on which offer shareholders should accept.


Analysts said ABN AMRO probably would be even-handed in its assessment of the bids, in part to maintain Barclays as a rival to the consortium.


"With Barclays sitting there, the consortium is not likely to be ready to lower its price," said Julian Chillingworth, a fund manger at Rathbones in London.


ABN AMRO had previously recommended the bid by Barclays, but the board changed its stance to neutral in July because of the change in valuations.


A spokesman for ABN AMRO, Neil Moorhouse, said Friday that the opinion would be issued at least four days before ABN AMRO shareholders gathered for an extraordinary general meeting, which is scheduled for Thursday. Shareholders will discuss the offers at the meeting, but no vote will be held.


The offer by Barclays would include a strategic alliance with China Development Bank and Temasek Holdings of Singapore, the result of a three-way financing deal reached in July.


The bid by the Royal Bank of Scotland consortium is mostly cash and would result in a breakup of the Dutch lender.


Some investors have said the bid led by the Royal Bank of Scotland group could be appealing to hedge funds investing in ABN AMRO because it is mostly in cash.


Yet that bid hinges on the approvals of shareholders of all three bidders involved in the consortium.


They have until Oct. 4 to tender shares to Barclays and until Oct. 5 to the consortium.


Even as the struggle for control of ABN AMRO continues, Barclays may be seeking a new potential merger partner in case its offer fails, some analysts said.


"It's a classic rule that who ever has a failed takeover behind him is now a takeover target himself," said Herman Bots of Theodoor Gilissen Bankiers in Amsterdam. "Barclays may be saved from this for now as mergers and acquisition activities have cooled because of the recent troubles in the credit market, but that calm may only last one or two months."


Bots said he thought Citigroup could make an offer for a stand-alone Barclays, while Barclays could make offers for Bank of Ireland and the Scandinavian bank Nordea.


http://www.iht.com/articles/2007/09/14/business/bank.php

FW: IHT.com Article: Formula One tells its spy story

This IHT.com article has been sent to you by:

------------------------------------------------------

Formula One tells its spy story
By Brad Spurgeon International Herald Tribune
Saturday, September 15, 2007

A day after the world of Formula One was shocked by a $100 million fine
over spying, the racing federation on Friday revealed some extraordinary
details of the scandal.


In a 15-page account - including details from e-mails and cellphone
text messages - the International Automobile Federation explained its
punishment of the previous day against McLaren Mercedes. What came out
was a tale of intrigue, and insight into the workings of the pinnacle of
motor racing.


In Formula One, each team spends hundreds of millions of dollars each
season to build a car to gain precious seconds on the competition.
Sharing intellectual property is, to a degree, part of the game, with
teams employing photographers to take pictures of the elaborate
technology belonging to the opposition to garner the slightest
advantage.


But the federation concluded that the McLaren team probably had gained
an unfair advantage by obtaining data from its rival Ferrari. On
Thursday, in addition to the fine, it excluded McLaren from the
constructors' championship this season.


The case first broke in the media in the days leading up to the British
Grand Prix on July 8. But its beginnings can be traced to the retirement
from Ferrari of Michael Schumacher last year after 11 seasons with the
team, and the resulting sabbatical of Ross Brawn, the team's technical
director.


Nigel Stepney, a right-hand man to Brawn, was unhappy about his new
boss. According to the federation report, as early as the first race of
the season in mid-March, the Australian Grand Prix at Melbourne, Stepney
began to communicate with his friend and former colleague, Mike
Coughlan, McLaren's chief designer, about details on Ferrari's car and
team strategy.


When the scandal broke in July, it focused only on a 780-page document
found at Coughlan's home in England.


Ferrari claimed that it had been tipped off about the document by an
employee of a copy shop in Woking, England, where McLaren is based, as
the employee was a Ferrari fan and became suspicious about the document.
But, according to Stepney, in an interview with the British media in
early July, Ferrari had been following his movements all season.


On July 4, McLaren said that the data had not been transferred to the
car or used by anyone else within the company, and that it had been an
isolated incident involving a rogue employee.


But the evidence issued Friday suggests otherwise. Coughlan and Stepney
were shown not only to be communicating regularly since before the first
race of the season - won by Kimi Raikkonen of Ferrari - but also to
be contact with two drivers of the McLaren tam.


Coughlan had worked with the McLaren test driver, Pedro de la Rosa, on
another team years ago. Coughlan shared some information in e-mail
exchanges with de la Rosa.


"Hi Mike, do you know the Red Car's Weight Distribution?" de la Rosa
wrote in an e-mail to Coughlan on March 21, three days after the first
race. "It would be important for us to know so that we could try it in
the simulator." At the hearing Thursday, de la Rosa confirmed that
Coughlan had responded by text message "with precise details of
Ferrari's weight distribution."


De la Rosa then sent an e-mail to Fernando Alonso, the McLaren driver
and reigning world champion, setting out the Ferrari's weight
distribution to two decimal places on each of Ferrari's two cars as they
were set up for the Australian Grand Prix.


"Its weight distribution surprises me," Alonso responded in an e-mail.
"I don't know either if it's 100 percent reliable, but at least it draws
attention." De la Rosa responded on 25 March, saying: "All the
information from Ferrari is very reliable. It comes from Nigel Stepney,
their former chief mechanic."


De la Rosa then mentioned to Alonso in the e-mail that in the first
race of the season, Stepney was "the same person who told us" before the
race the exact lap on which Raikkonen would make his first pit stop in
the Ferrari.


Other information provided included such things as a special gas that
Ferrari used to inflate its tires to reduce the internal temperature and
blistering of the rubber.


"We'll have to try it, it's easy," de la Rosa wrote to Alonso.


E-mail exchanges continued through April, when de la Rosa asked Coughlan
for details on Ferrari's braking system, and Coughlan told him.


In June, Ferrari started proceedings in court in Modena, Italy, against
Stepney.


The Italian police provided the racing federation with evidence that
showed Coughlan and Stepney had exchanged 288 text messages and 35
telephone calls between March 11 and July 3.


For the federation, this evidence seemed to nullify the argument that
two rogue employees had simply been sharing data.


"The advantage gained may have been as subtle as Coughlan being in a
position to suggest alternative ways of approaching different design
challenges," the report says.


The report says that the evidence led the federation "to conclude that
some degree of sporting advantage was obtained, though it may forever be
impossible to quantify that advantage in concrete terms."


After the report was released Friday, Dennis continued to deny that the
team had gained any advantage and he also pointed out that he had
himself supplied some of the final evidence after he learned about it at
the Hungarian Grand Prix on Aug. 5.


"We now have seven days to appeal and are carefully considering the
company's position once we have a full understanding of the FIA's
findings," Dennis said, referring to the federation.

http://www.iht.com/articles/2007/09/14/business/prix.4-134266.php

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Monday, September 17, 2007

IHT.com Article: Pakistan announces change in election rule that could favor Musharraf

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------------------------------------------------------

Pakistan announces change in election rule that could favor Musharraf
The Associated Press
Monday, September 17, 2007

Pakistan's Election Commission announced on Monday a rule change that would apparently allow President Gen. Pervez Musharraf to seek a new five-year term without resigning first as army chief.


Opposition parties decried the move as a brazen violation of the Constitution and accused the U.S.-allied military leader of trying to bulldoze away legal obstacles to his remaining in office.


Musharraf seized power in 1999 after a decade of chaotic civilian rule and pledged to eradicate Islamic extremism and bring "real" democracy to Pakistan. But he has yet to say publicly when he will give up his parallel position as army chief, the main source of his authority.


On Monday, the Election Commission said it had changed a rule for the presidential vote, which is due by Oct. 15, so that an article of the Constitution barring government employees â€" such as army officials â€" from running no longer applies.


"The chief election commissioner of Pakistan has made the requisite amendment, with the approval of the president," the commission said in a statement.


The move appeared to signal Musharraf's determination to extend his rule and dimmed the promise of already-stalled talks between Musharraf and exiled former leader Benazir Bhutto on a potential power-sharing deal.


It could also deepen divisions within the ruling Pakistan Muslim League-Q party and pile pressure on the Supreme Court to guide Pakistan away from a political crisis that some fear could lead to street protests and martial law.


In addition to his political woes, Musharraf is struggling to respond to the resurgence of Taliban and al-Qaida militants and a spate of suicide bombings.


In the latest violence, the army said it had lost touch Monday with 16 soldiers at an outpost near the Afghan border hours after they reported killing 14 militants in a battle.


Musharraf's standing has plummeted since March, when he tried to fire the country's independent-minded chief justice, sparking a pro-democracy campaign.


He retook the political initiative last week by sidelining former Prime Minister Nawaz Sharif, the man he toppled eight years ago in a bloodless coup, by sending him back into exile in Saudi Arabia.


However, in doing that, he set up another showdown with the Supreme Court that had earlier ruled that Sharif could return to Pakistan.


Bhutto forecast that the change in the election rules would further enrage the lawyers who mounted a determined and well-organized campaign for the reinstatement the chief justice.


"All political parties, irrespective of whether they were moderates or religious, regional or national, came together to back the lawyers and their movement and I think the same would happen again," Bhutto told The Associated Press late Sunday, when Pakistani media first reported the rule change.


Bhutto said her party may join other opposition groups in resigning from Parliament. She said that for Musharraf to seek re-election in uniform would be "illegal."


Bhutto and Musharraf have discussed a pact including constitutional amendments to remove legal problems with his running again and let her return and seek a third term as prime minister in parliamentary elections due by January.


But negotiations have snagged amid opposition from right-wingers in the ruling party who could be eclipsed if Bhutto makes a triumphant return.


Monday's announcement by the five-member Election Commission, whose chief is appointed by the president, seemed to remove the need for such a pact.


The commission said it was updating its rules to reflect Supreme Court rulings in 2002 and 2005 that Article 63 of the Constitution did not apply to Musharraf.


The article bars civil servants, including members of the military, from running for elected office. It also says that former civil servants must wait for two years before they become eligible. Some argue that makes Musharraf ineligible even if he quits as army chief.


The 2002 and 2005 court cases challenged the legality of Musharraf's presidency, including his holding of the office of president and army chief at the same time.


Qazi Hussain Ahmed, head of a six-party coalition of Islamist opposition parties, said the latest move could destabilize Pakistan by discrediting the Election Commission.


"Gen. Musharraf is not getting off the bulldozer he has been riding" since toppling Sharif, Ahmed told AP. "Now he is bent upon further ruining the Constitution."


"We will block his way through street power and through every available forum," he said.


However, Mushahid Hussain, the ruling party's secretary general, forecast that Musharraf would step down as army chief shortly after winning the presidential vote.


"I expect him to be sworn in as a civilian president," Hussain said, but added: "It's my own personal view. I'm not in the government."


He declined to comment on the Election Commission's decision because it would likely be challenged in court.


On Monday, the Supreme Court resumed hearing six petitions, including one filed by Ahmed's Jamaat-e-Islami party, on Musharraf's eligibility to run again. Its eventual verdict could override the decision of the Election Commission.


____


Associated Press writers Zarar Khan and Sadaqat Jan contributed to this report.


http://www.iht.com/articles/ap/2007/09/17/asia/AS-POL-Pakistan-Politics.php

IHT.com Article: ADB raises economic forecast for developing Asia thanks to robust growth in China, India

Content-Type: text/plain; charset=utf-8

Message-Id: <20070917194721.5E6D6FA1E@dumpty.iht.com>
Date: Mon, 17 Sep 2007 15:47:21 -0400 (EDT)


This IHT.com article has been sent to you by: asjanjua@gmail.com

------------------------------------------------------

ADB raises economic forecast for developing Asia thanks to robust growth in China, India
The Associated Press
Monday, September 17, 2007

Exceptional growth in China and India prompted the Asian Development Bank on Monday to raise its economic growth forecast for developing Asia this year to a collective 8.3 percent from 7.6 percent.


The Manila-based lender also raised its forecast for 2008 from 7.7 percent to 8.2 percent, but warned that the improved prospects for the region have pitfalls, including volatile oil prices and the impact of credit market strains on the U.S. economy, a key export market.


"This reassessment stems from the exceptionally strong performance of Asia's giants â€" the People's Republic Of China and India," said Ifzal Ali, the ADB's chief economist.


"The headline numbers for 2007 have also been lifted by faster-than-expected growth in Indonesia and the Philippines," he said.


China and India make up 55.3 percent of developing Asia's total gross domestic product. China's economy grew 11.5 percent in the first half of 2007, its fastest rate in 13 years, and India expanded 9.3 percent in the first quarter.


Without the two giants, the rest of Asia is forecast to post 5.7 percent growth in 2007, and 5.6 percent in 2008.


China's annual growth forecast was raised to 11.2 percent from 10 percent. In 2008, China is seen expanding 10.8 percent.


Ali warned that rapid growth in fixed asset investment, exports and consumption in China were leading to an overheated economy. Rising inflation has led to a jump in lending rates, and "this tightening will also lead to a pressure to depreciate the currency," he said.


China needs to restrain investment growth, rebalance disparities in its economy, lift private consumption and tackle inflation if growth is to be maintained, Ali said.


India, meanwhile, is expected to grow 8.5 percent in the fiscal year through March 2008, and again the following fiscal year.


"South Asia at this juncture is particularly vulnerable to political instability," Ali said, noting major signs of political instability in Pakistan and an interim government in Bangladesh.


But the subcontinent is probably the least vulnerable to the gyrations in the international credit markets because the economies in South Asia are basically closed markets whose growth are fueled by domestic demand, he said.


"Developing Asia's defenses against external shocks are solid and it can weather a slowdown in the United States," said Ali. "The region's growth prospects will continue to depend on how well the countries address their internal challenges."


The report said a possible U.S. recession, depending on its timing, could trim Asia's growth by 1 percentage point to 2 percentage points.


"While a cold in the United States may definitely lead to maybe some kind of flu in our part of the world, it's not going to lead to pneumonia," Ali said.


The report said a replay of the 1997 Asian financial crisis was unlikely because Asia's reserves provide a strong buffer against external shocks, domestic financial institutions are stronger and the corporate sector has reduced its exposure to debt.


Southeast Asia is now expected to grow at 6.1 percent this year, with Vietnam seeing expanding 8.3 percent.


The bank also raised its forecast for Philippine growth to 6.6 percent due to its fastest first-half growth in almost 20 years.


Indonesia continues to edge up and is now expected to post 6.2 percent growth in 2007, while growth in Thailand is expected to be close to an earlier estimate of 4 percent as political uncertainties continue to undermine consumer and private investment confidence, the bank said.


---


On the Net:


Asian Development Bank: <a href="http://www.adb.org">http://www.adb.org


http://www.iht.com/articles/ap/2007/09/17/business/AS-FIN-ECO-Asia-Economic-Outlook.php

IHT.com Article: Pakistan's Supreme Court hears petitions on Musharraf's re-election plans

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This IHT.com article has been sent to you by: asjanjua@gmail.com

------------------------------------------------------

Pakistan's Supreme Court hears petitions on Musharraf's re-election plans
The Associated Press
Monday, September 17, 2007

Pakistan's Supreme Court was set to hear a slew of petitions against President Gen. Pervez Musharraf on Monday in a new challenge to the U.S.-allied leader at a court that has already shaken his authority.


A nine-member panel of judges has taken up the six petitions, including one by Jamaat-e-Islami, Pakistan's largest Islamic group, urging the court to disqualify Musharraf as a candidate in upcoming presidential elections.


The presidential vote by lawmakers is likely in early October, but Musharraf has not yet indicated publicly whether he will leave his job as army chief first.


In its petition, Jamaat-e-Islami said that a 2004 parliamentary act that enabled Musharraf to become president while he still held the army chief post was against the Constitution.


Musharraf's "candidature for the election of the office of the president of Pakistan ... for the next term is void, malafide, unconstitutional, without lawful authority and of no legal effect," said the petition, a copy of which has been provided to The Associated Press.


It was unclear when the court would make a ruling.


The outcome could have a significant impact on Pakistan's turbulent politics as Musharraf maneuvers to extend his eight-year rule. Former Prime Minister Benazir Bhutto is also planning her return from exile Oct. 18 to contest parliamentary elections that must be held by mid-January.


Musharraf seized power in a bloodless coup in 1999 when he toppled the government of the then-Prime Minister Nawaz Sharif.


The general's authority slipped when he tried to remove Supreme Court chief judge Iftikhar Mohammed Chaudhry this March, sparking a pro-democracy protest movement. The court later reinstated Chaudhry.


Imran Khan, another opposition lawmaker, is among the five other people whose petitions were scheduled for hearing at the Supreme Court on Monday.


In another legal challenge, Sharif's party has petitioned the Supreme Court to begin contempt proceedings against the government for deporting Sharif to Saudi Arabia last Monday hours after he arrived back in Pakistan after seven years in exile. On Aug. 23, the court had ruled that Sharif had the right to return.


A hearing on that petition has not yet been fixed.


http://www.iht.com/articles/ap/2007/09/17/asia/AS-GEN-Pakistan-Musharraf.php

Just Joined...Finally

I have been musing over putting up my own blog for the last three years. Finally when my life is taking a new turn i feel that this might be a good opportunity for me to share how i feel and express myself openly.

MY ultimate aim would be to be as openly and honestly as possible ,share thoughts and maybe act as a s an example for some and act as an element of some humor for others.

JUST getting my bearings straight on blogger.

Next time I will be sharing with you experiences from my work, my family life and the happenings in the lovely city of Karachi