IslamabadTaking cognizance of massive cutting of trees and dust pollution caused by development activity at the site of the Zero Point Interch

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MUMBAI: India’’s stock market fell sharply Monday, reversing early gains, amid uncertainty over the political and economic outlook after terrorist attacks killed more than 180 people in the country’’s financial capital.Also weighing on investors were fresh signs that economic downturns in the U.S. and Europe, both major export markets, were weakening demand for Indian-made goods.The Bombay Stock Exchange Sensitive Index, or Sensex, closed down 252.85 points, or about 2.8 per cent, at 8,839.87 on light volume after opening higher. The index rose 0.7 per cent on Friday after being shut on Friday.While the attacks could keep tourists and foreign investors away, at least in the short term, analysts attributed Monday’’s declines to a temporary hit to sentiment rather than a loss of confidence about India’’s economic prospects.”There’’s nobody interested in the market right at this moment,” said Gul Teckchandani, a Mumbai-based investment analyst. “Everybody is glued to the television as to what the politicians are going to do in improving security in the city and how they plan to tackle problems going forward.”Don”t forget, people involved in the market have lost friends and family,” he added. “It is playing on our minds, there is discomfort.”Adding to the unease, government data showed Monday the country’’s exports fell 12.1 per cent last month compared to a year ago, further evidence that the global slowdown was taking a toll on India’’s economy.Shares of Maruti Suzuki India Ltd., the nation’’s largest car company, tumbled 8.7 per cent after it reported a sharp drop in sales last month. It dragged down other automakers along the way, with Tata Motors Ltd. and Mahindra Mahindra Ltd. losing 3.1 per cent each.Banks were also lower as some investors lost hope that the central bank would cut interest rates further anytime soon.The decline came as Indian Prime Minister Manmohan Singh took charge of the finance ministry. He replaced the current top finance official, who in turn replaced a chief security official, who resigned over the attacks.

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IslamabadPointing out education and employment as two most pronounced issues of youth today, the delegates of National Youth Summit on Monday

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NEW YORK: US stocks dived deeper into the red today after an official panel confirmed that the economy has been in recession since December 2007, sparking fresh worries amid the global financial crisis. The Dow Jones Industrial Average plummeted 443.80 points (5.03 per cent) to 8,385.24 at 1807 GMT after five winning sessions. The tech-heavy Nasdaq slid, 94.57 points (6.16 per cent) to 1,441.00 and the broad-market Standard Poor’’s 500 index dropped 53.86 points (6.01 per cent) to 842.38. Stocks extended opening losses after a panel of economists charged with the official designation of business cycles said that world’’s largest economy has been in recession since December 2007. The Business Cycle Dating Committee of the National Bureau of Economic Research said it made the determination during a conference call on Friday. It uses its own criteria to determine a recession, generally defined as two consecutive quarters of declining activity.

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Pakistan News

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has vowed that any one found involved in city’’s violence and rioting will not be spared and protection to the life and property of people will be ensured at all cost. He said that rioting in Karachi started under a planned conspiracy and these are being investigated. “Our foremost priority is the restoration of law and order for which strict directives have been issued to police”, he said while talking to a 6-member delegation of Jamaat Islami, led by Naib AmirJI, Prof Ghafoor Ahmed that called on him at Chief Minister House Monday. The delegation included Amir JI Karachi Mohammed Hussain Mehanti, Nasrullah Shajih, Yunus Barai, Hamidullah Khan, Hafiz Naimur Rehmanand Raja Arif. Qaim Ali Shah said that restoration of peace in Karachi is the moral obligation of all political parties as well besides the government and he is contacting all the parties and taking them into confidence as part of steps for restoration of peace. He reiterated that there is no existence of Tallibanization in Karachi. There could be apprehensions but this has no relevance to reality, he added. He condemned Indian allegations against Pakistan in regard to Mumbai Mayhem and said President Asif Ali Zardari and Prime MinisterYousuf Raza Gilani have contacted leaders of all the political parties and a conference of those leaders has been called on Tuesday to develop national consensus. Chief Minister said that during his recent visit to Karachi, President Asif Ali Zardari had not made any remark in relation to registration but had spoken about maintaining watch on illegal immigrants and foreigners.

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ISLAMABAD: Pakistan will receive $4 billion from the World Bank (WB), Asian Development Bank (ADB), Islamic Development Bank (IDB) and other bilateral

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FARIDKOT, Pakistan — For the past three days Pakistani intelligence agents and police have been combing this sleepy village in search of clues to the identity of the lone gunman captured in the Mumbai terror attacks, residents said on Monday.

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ISLAMABAD: Chief Justice Abdul Hameed Dogar on Monday ordered for taking strict action against the deputy superintendent of police (DSP) for releasing

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Pakistan News

ISLAMABAD: The Senate Standing Committee on Education, Science and Technology on Monday cancelled the invitation to the Editor Investigations of The N

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ISLAMABAD: The clarification issued by the Federal Board of Intermediate and Secondary Education (FBISE) will prove to be a charge-sheet against Chief

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