Pak News Wire

Tropical cyclone pounds Australia

Tropical cyclone pounds Australia

Tropical Cyclone Marcia packed powerful winds as it slammed into Australia's eastern coast Friday morning.

Mian Mansha plans $300 million cement plant in Pakistan

Mian Mansha’s DG Khan Cement Ltd — the county’s third-largest maker of the construction material – plans to build an $ 300 million plant near Karachi as economic growth boosts demand, <a href="http://www.bloomberg.com/news/articles/2015-02-20/billionaire-mansha-plans-300-million-cement-plant-in-pakistan" target="_blank">Bloomberg reported </a>on Thursday. “There will be a shortage domestically in three years if there is 10 percent growth in demand each year,” Chief Financial Officer Inayat Ullah Niazi said in an interview at the company’s headquarters in Lahore on Thursday. The company’s two cement plants have operated near full capacity in the past two years, Bloomberg reported. The company is building its first plant since 2007. Pakistan’s output is projected to expand 4.3 percent in the year ending June 30 and 4.75 percent in the following fiscal year by the International Monetary Fund, the news outlet reported. The new plant near Hub, west of Karachi, will produce about 2 to 2.5 million tons of cement a year, Niazi said. Construction is targeted for completion late in 2018. The plant will be financed 40 percent through internal cash and the rest through debt, Niazi said. “Expansion means the company will enter the southern region of the country,” Tahir Abbas, an analyst at brokerage Arif Habib Ltd. said by phone in Karachi. “This will impact the entire industry and could start a price war.” Earnings  Earlier in the month, DG Khan Cement <a href="http://tribune.com.pk/story/839994/corporate-results-dg-khan-cement-posts-strong-profit-up-27/" target="_blank">announced a net income of Rs3.39 billion</a> for the first six months ended December 2014, up by a healthy 27% compared to Rs2.67 billion in the same period of previous year. Earnings per share (EPS) also jumped to Rs7.75 compared to an EPS of Rs6.09 in the first half of the previous year. On a quarterly basis, the company’s earnings surged by 93% quarter-on-quarter (QoQ) to Rs2.24 billion or an EPS of Rs5.10 during the second quarter of fiscal year 2015. “The earnings were significantly above our estimates due to higher-than-estimated other income and lower-than-expected taxation charges,” Global Research reported on Tuesday. With stable off-take and prices, the revenues increased by 2% year-on-year (YoY) to Rs12.66 billion during the first half of fiscal year 2015 because of an improved sales mix. Revenues jumped by 18% QoQ to Rs6.8 billion during the second quarter because of a likely 16% QoQ increase in total off-take to one million tons. Margins of the company declined by one percentage point YoY to 33% during the first half because of higher average energy costs and increased maintenance expenditures. On a quarterly basis, margins recovered by three percentage points QoQ to 34% because of higher volumetric off-take and an improved sales mix. DG Khan Cement’s other income improved by 18% YoY to Rs1.13 billion during the first half because of higher income from its investments. Meanwhile, other expenses declined by 11% YoY to Rs315 million during the first half because of a lower quantum of exchange losses. Financial charges plummeted by 57% YoY to Rs156 million because of a 43% YoY decline in the company’s average debt to Rs5.3 billion. On a quarterly basis, financial costs increased by 34% QoQ to Rs89 million during the second quarter because of an increase in short-term borrowings.

Mian Mansha plans $300 million cement plant in Pakistan

Mian Mansha’s DG Khan Cement Ltd — the county’s third-largest maker of the construction material – plans to build an $ 300 million plant ne...

Mother and child safety a top priority, says PM Nawaz

ISLAMABAD: Prime Minster Nawaz Sharif said on Friday that mother and child safety through proper immunisation and better nutrition are a major priority for the government. He was talking to a high-level mission of the Global Alliance for Vaccines and Immunization (GAVI) led by GAVI CEO Dr Seth Berkley at the PM House. Other members of the delegation included WHO Regional Director for the Eastern Mediterranean Dr Ala Alwan and Bill Gates Foundation Global Development Program President Dr Christopher Elias. <blockquote class="twitter-tweet" width="500">Excellent mtg with Prime Minister Nawaz Sharif & senior leadership of <a href="https://twitter.com/gavi">@gavi</a> high level mission; honest discussion of immunisation challenges — Seth Berkley (@GaviSeth) <a href="https://twitter.com/GaviSeth/status/568663006621536256">February 20, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> The prime minister said that routine immunisation is important and that  provincial governments have been directed to take effective measures for speeding up the process so that the areas lagging behind in immunisation can catch up. The delegation appreciated the personal interest the prime minister took, and the Health Ministry’s role in the implementation of the polio eradication programme and routine immunisation. They also appreciated the Punjab government for setting a target of 80% coverage in routine immunisation in the province by the end of the year. <blockquote class="twitter-tweet" width="500">Just finished a press conference with <a href="https://twitter.com/WHO">@WHO</a> & <a href="https://twitter.com/UNICEF">@UNICEF</a> leadership in <a href="https://twitter.com/hashtag/Islamabad?src=hash">#Islamabad</a> on improving Pakistan EPI performance <a href="http://t.co/SFqXyyXmFv">pic.twitter.com/SFqXyyXmFv</a> — Seth Berkley (@GaviSeth) <a href="https://twitter.com/GaviSeth/status/568348262970757120">February 19, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> Federal Minister for Health Saira Afzal Tarar informed the premier that the confusion regarding procurement of vaccines in the aftermath of the 18th Amendment has recently been cleared and now the federal government will procure vaccines through a National Procurement Committee composed of representatives from all provinces. She said this would not only streamline the system but also save Rs1 billion annually. <blockquote class="twitter-tweet" width="500">Grt for <a href="https://twitter.com/gavi">@gavi</a> high level mission 2meet w Pakistan Minister of National Hlth regul. services & coord Saira Azal Tarar <a href="http://t.co/avNuYcC6ak">pic.twitter.com/avNuYcC6ak</a> — Seth Berkley (@GaviSeth) <a href="https://twitter.com/GaviSeth/status/568347093074448384">February 19, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> Talking about the polio eradication initiative, she said a concrete and robust plan has been put in place and its proper implementation would bring about drastic reduction in polio cases. The WHO representative informed the meeting that 25% reduction can be brought about in child mortality in Pakistan through immunisation and 30% cases of child mortality can be prevented through better nutrition. <blockquote class="twitter-tweet" width="500"><a href="https://twitter.com/hashtag/DYK?src=hash">#DYK</a>? ~3 million kids in <a href="https://twitter.com/hashtag/Pakistan?src=hash">#Pakistan</a> miss out on a full course of basic vaccines every year. Together we can change that! <a href="https://twitter.com/hashtag/vaccineswork?src=hash">#vaccineswork</a> — Gavi (@gavi) <a href="https://twitter.com/gavi/status/568387265082343424">February 19, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> The prime minister said these two are closely linked to each other and concerned provincial government departments should work in coordination with the Ministry of Health to overcome the challenges. He said international best practices should be replicated in Pakistan to achieve better results. The delegation appreciated the ministry of health for taking the bold step of increasing tobacco health warnings. Federal Minister for Planning and Development Ahsan Iqbal also attended the meeting.

Mother and child safety a top priority, says PM Nawaz

ISLAMABAD: Prime Minster Nawaz Sharif said on Friday that mother and child safety through proper immunisation and better nutrition are a ma...

Is Seville Europe’s greatest cycling city?

Is Seville Europe’s greatest cycling city?

A few years ago, barely anyone in this southern Spanish city rode a bike. Now two-wheeled transport is growing exponentially.

Report: Iran to resume nuke talks with U.S.

Report: Iran to resume nuke talks with U.S.

Cyclone lashes Australia

Cyclone lashes Australia

Tropical Cyclone Marcia packed powerful winds as it slammed into Australia's eastern coast Friday morning.

Misbah rubbishes reports of panic, voices concerns over batting

CHRISTCHURCH: Pakistan captain Misbah-ul Haq dismissed talk of panic in the ranks on Friday but conceded their batting woes needed to be addressed ahead of their crunch World Cup match against the West Indies. The two sides go into Saturday’s match at Hagley Oval in Christchurch desperate to get points on the board after both lost their first matches in Pool B. Pakistan suffered a dramatic batting collapse when they were outclassed by India while the West Indies were upset by Ireland. “This is an important game, and both teams need to win. We know that,” Misbah said, adding Pakistan knew they had to rectify their problem batting. But he added “we are not panicking,” when questioned whether there would be changes to the side to face the West Indies. Misbah’s 76 against India was the only half century in the Pakistan innings but he said he should not have been responsible for holding the innings together. “It doesn’t mean that all the time it should be me. It should be two other guys out of six or seven batsmen that are playing,” he said. “This is how normally cricket is being played. Every time all seven batsmen don’t perform and maybe two or three just score runs and you just win the game. “The guys who are not at the moment performing, we know that they are good enough players, and they can just come to the party in the next games.” Pakistan reached 102-2 against India before the batting imploded with three wickets for one run before they limped through to 224, well short of India’s 300. Misbah said moving him up the order from his number four slot was not the answer. “We just collapsed in the middle order, so it wasn’t a problem at the top. What we are missing, I think, is that we need to have better partnerships on a regular basis, whether it’s at the top, whether it’s in the middle order. “Any pair who is batting, they need to just develop a partnership, and that’s what we missed in India’s game. After losing the second wicket we just lost three wickets in nine balls and that really cost us the game.” Although Pakistan are without proven match-winner Saeed Ajmal — who pulled out of the Cup because of his disputed spin bowling action — Misbah felt comfortable with his bowlers. “It’s a little bit difficult when you are used to somebody (Saeed) for three or four years, but I think now our pacers are really doing well in the last two, three games,” he said. “They are really coming to the party in the way they are bowling, especially in the death overs, improving, so we’ll have to live with that.” He said speedster Mohammad Irfan, whose form against India dropped away after he was twice warned for stepping on the wicket, had been working on his action in practice since then and “he’ll be fine in the next game.”

Misbah rubbishes reports of panic, voices concerns over batting

CHRISTCHURCH: Pakistan captain Misbah-ul Haq dismissed talk of panic in the ranks on Friday but conceded their batting woes needed to be ad...

Caracas mayor accused of Venezuela coup plot

Caracas mayor accused of Venezuela coup plot

The mayor of Venezuela's capital was arrested during a raid carried out by more than 150 intelligence agents, his office told CNN en Esp...

DSK pimping trial protested by topless women

DSK pimping trial protested by topless women

Former IMF chief Dominique Strauss-Kahn testified that he didn't know prostitutes were involved in the sex parties he attended. CNN'...

Seb Ogier: What drives the rally champion

Seb Ogier: What drives the rally champion

The French rally racer has dominated his sport over the past two seasons. CNN's Human to Hero series finds out what drives him.

Crowds pack streets to protest Argentine prosecutor’s death

Crowds pack streets to protest Argentine prosecutor’s death

It was supposed to be a silent march when demonstrators packed the streets of Buenos Aires.

Frozen Niagara Falls draws tourists

Frozen Niagara Falls draws tourists

What? Not enough snow, ice and cold for you? You say you STILL need some "Frozen" references in your life?

Opinion: Terror not driven by deprivation

Opinion: Terror not driven by deprivation

Terrorists spring out of all backgrounds, including the middle class and the wealthy, writes Peter Bergen.

Ukrainian troops abandon key battleground city

Ukrainian troops abandon key battleground city

In the midst of a supposed ceasefire, the important town of Debaltseve has changed hands. CNN's Nick Paton Walsh reports.

UK jets intercept Russian aircraft

UK jets intercept Russian aircraft

Two UK Royal Air Force jets intercepted a pair of Russian aircraft flying near British airspace this week, the British Defence Ministry said...