KARACHI: The unknown militants shot dead the activists of two political parties near Sindhi hotel, Geo news reported on Thursday.According to police the dead bodies have been moved to hospital and the case against unknown militants has been lodged.The deceased were identified as Nadeem (28) alias Aro and his friend Adnan (25), sources added.
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NEW YORK: Oil prices approached 70 dollars per barrel on Thursday after a new forecast from US investment bank Goldman Sachs anticipating global economy recovery.New York’’s main futures contract, light sweet crude for delivery in July, hit a high of 69.60 dollars per barrel before closing at 68.57 dollars, up 2.45 dollars from Wednesday’’s close. Thursday’’s close was the highest since November 4. London’’s Brent North Sea crude for July delivery gained 2.83 dollars to close at 68.71 dollars a barrel, the highest since October 21. Prices took off as Goldman said prices could strike 85 dollars per barrel by the end of 2009.Also helping was news that new claims for jobless benefits in the United States fell for a third consecutive week, fueling hopes the recession gripping the world’’s biggest energy conuming nation may be easing. The price rally “precipitated on Goldman Sachs” report raising their crude oil target for the end of the year to 85 dollars and advising their clients to exit their short position on crude oil,” said Andy Lipow, president of Lipow Oil Associates. “There is a fair amount of investment money on the sidelines that doesn”t want to miss a boom of commodities if the world economy stabilizes and begins to improve, that’’s really what we are seeing,” he said. Goldman Sachs said its bullish price forecast stemmed from a global economy recovery and energy shortage. “As the financial crisis eases, an energy shortage lies ahead,” it warned in a report. “The recent rally in prices is likely to be but the first stage in the oil price rally that we expect will accompany a recovery in economic activity. “We are raising our end-of-2009 price forecast (for New York crude) to 85 dollars per barrel from 65 dollars per barrel,” the bank added. Further ahead, Goldman predicted that prices could strike 95 dollars per barrel by the end of 2010. After plunging from record highs above 147 dollars last July, oil prices touched multi-year lows in December, at one point nearing 32 dollars a barrel. They have since clawed back ground, bouncing higher this week as the weak US currency made dollar-priced crude cheaper for buyers holding stronger currencies, in turn stimulating demand and pushing up prices. Another factor for the price rise Thursday was a report indicating easing unemployment in the United States. The Labor Department said the number of initial claims for jobless benefits in the week ending May 30 dipped to 621,000 from the previous week’’s revised figure of 625,000.
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WASHINGTON: The World Bank on Thursday approved $900 million in loans to improve education in Pakistan’’s Punjab and Sindh provinces and support a poverty-fighting fund for local community groups.The World Bank money comes as Pakistan struggles with a balance of payments crisis and fighting in the northwest of the country that has left 2.5 million people homeless.The World Bank said the $650 million in financing for the Punjab and separate Sindh education sector reform projects were aimed at encouraging more children to go to school and improve the quality of schooling.Also, another $250 million for the Third Pakistan Poverty Alleviation Fund, which the Bank has supported since 2000 and has reached more than 2 million people, will seek to support community groups with financing, micro-credit loans and skills training for the poor.
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MIRANSHAH: US surveillance planes made low flights in North Waziristan Agency areas, causing fear among the local people, Geo News reported Friday.
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SWAT: The curfew will remain relaxed in some parts of Swat today, Geo news said.According to Swat media center, the areas include Kango, Imam Dhari, Dhamghar, Kozq, Bandah, Baran Bandah, Goraija, Chota Kalam and Shakardara.The areas of the following people have been directed to vacate their homes and to get to relief camps during the relaxed hours from 06 am morning to 03 pm in the evening, sources added.Government has also arranged transport facility for the people migrating from the area, sources maintained.
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Pakistan News
June 5 (Bloomberg) — Pakistan’s Prime Minister Yousuf Raza Gilani pledged to revive the Swat Valley as the military said it is winning the battle to drive Taliban fighters from the northeastern region.
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LAHOREThe Lahore High Court was assured on Thursday that the appointment of a qualified Khateeb (prayer leader) at Data Darbar Masjid will be
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Islamabad The influx of job seekers and labourers has resulted in a sharp increase in the number of slums in the metropolis. According
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June 4 (Bloomberg) — The World Bank said it approved $900 million in loans for Pakistan aimed at improving education in Punjab and Sindh provinces and expanding a development project already operating in 35,000 villages.
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KHAIRPUR: Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry has issued inquiry orders into the reports of fake police encounter incident in Khairpur district whereby three students ageing 13-15 years were allegedly killed in cold blood.According to sources, the CJP, taking suo motto notice of the reports of fake encounter, ordered probe to be conducted by an independent inquiry officer.
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