In an echo of America’s growing engagement with the region, the European Union on Wednesday stepped up its contacts with Pakistan, offering aid, trade concessions and help on counterterrorism at a high-level meeting here.
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(Corrects reference to deficit in first paragraph.) June 18 (Bloomberg) — Pakistan , wracked by a war with Taliban insurgents and a record current-account deficit, is this year’s best bond investment, according to JPMorgan Chase & Co. indexes.
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The European Union held its first summit meeting with Pakistan on Wednesday, offering aid, trade concessions and help on counterterrorism.
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An intriguing battle is on the cards when favourites South Africa clash with buoyant Pakistan in the semi-final of the World Twenty20 on Thursday.
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June 18 (Bloomberg) — Pakistan , wracked by a war with Taliban insurgents and a record current-account deficit, is this year’s best bond investment, according to JPMorgan Chase & Co. indexes. Money managers say the stock market, the region’s cheapest, may be next.
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Pakistan News
Pakistan’s offensive against Taliban militants has won praise from Washington but may bring little benefit to US forces in neighboring Afghanistan, experts and US officials say.
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Of the four teams left in the World Twenty20 cricket tournament, which starts its semifinals in England on Thursday, Pakistan represents both continuity and passion.
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June 18 (Bloomberg) — Pakistan , wracked by a war with Taliban insurgents and a record budget deficit, is this year’s best bond investment, according to JPMorgan Chase & Co. indexes. Money managers say the stock market, the region’s cheapest, may be next.
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NEW YORK: The price of crude climbed above $70 a barrel on Wednesday after a key government report said that U.S. inventories fell for the third straight week. Benchmark crude for July delivery added 56 cents to settle at $71.03 on the New York Mercantile Exchange. Most of the trading already has switched to the August contract, which added 54 cents to settle at $71.70 a barrel. The U.S. Energy Information Administration report said crude inventories fell 3.9 million barrels last week, or 1.1 percent, to357.7 million barrels. Despite the drop, U.S. inventories are still bloated with the most oil than they”ve held in nearly 16 years. The report also said that gasoline reserves grew 3.4 million barrels, or 1.7 percent, to 205 million barrels. Demand for gasoline was up 1.1 percent from last year, averaging nearly 9.3 million barrels a day over the four weeks ended June 12,the report said. Analysts had expected a 1.7 million-barrel drop in crude oil reserves, according to a survey by Platts, the energy information arm of McGraw-Hill Cos. A reading above or below estimates can influence market trading. Oil prices this week have come off eight-month highs near $73 a barrel amid some signs that the U.S. economy, while past the worst of a severe recession, is still weak. They were helped Wednesday by a weakening dollar. Because crude is priced in U.S. currency, oil tends to rise when the dollar falls. Meanwhile, U.S. retail gas prices climbed for the 50th straight day Wednesday, the longest streak in records dating to 1996. Pump prices added a half cent overnight to a new national average of $2.679 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service. In other Nymex trading, gasoline for July delivery tumbled 3.85cents to settle at $2.0326 a gallon and heating oil added 3.8 cents to settle at $1.863. Natural gas for July delivery gained 12.4 cents to settle at $4.253 per 1,000 cubic feet. In London, Brent prices added 61 cents to settle at $70.85 a barrel on the ICE Futures exchange.
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NOTTINGHAM: An intriguing battle is on the cards when favourites South Africa clash with buoyant Pakistan in the semi-final of the World Twenty20 here on Thursday. Geo Super will telecast the action live from the ground at 2230 PST.The South Africans have showed their all-round prowess during an unbeaten run in the tournament, including emphatic wins in all three Super Eight games against the West Indies, England and defending champions India. The latest success came at Trent Bridge on Tuesday when the Proteas fought back after being restricted to a modest 130-5 on a slow wicket to keep off-colour India down to 118-8. Pakistan bounced back after losing their first Super Eights game to Sri Lanka to defeat New Zealand by six wickets before ensuring their place in the semi-final by packing off minnows Ireland by 38 runs. In the preliminary round, the enigmatic Pakistanis had shown a similar never-say-die attitude by thrashing England-conquerors Netherlands by 82 runs after losing their opening match against the hosts. “We are slow starters but we never give up,” said Pakistan captain Younus Khan. “If we lose a game we regroup fast and go out and prove ourselves.” Pakistan have been lifted by a sensational display by seamer Umar Gul, who claimed five wickets for six runs against New Zealand at the Oval last Saturday, the first five-wicket haul in Twenty20 internationals. Gul, who was the highest wicket-taker in the inaugural World Twenty20 in South Africa when Pakistan ended as runners-up to India, again tops the list with 12 scalps in this tournament. “Gul is a class act,” said Pakistani coach Intikhab Alam. “He has shown that the best way to restrict a side in T20 is by taking wickets. He is definitely a trump card.” Suggestions from the New Zealand camp that Gul extracted reverse swing during his five-wicket haul against them was dismissed by the on-field umpires. But when Pakistan returned to the field against Ireland on Monday, umpires Rudi Koertzen and Rod Tucker regularly checked the ball. Younus, however, wanted his team to overcome the embarrassment and focus on the semi-final. “It will be a tough game because South Africa have proved they are a very good side, but we will be ready for the challenge,” he said. “The bowlers have done a great job so far, but I think the batsmen do not give them enough runs to defend. We can”t let that happen against South Africa.” Graeme Smith’’s side have the advantage of having played two matches at Trent Bridge during the tournament, while Pakistan’’s games were all confined to Lord’’s or Oval in London. “Pakistan are a talented team who will arrive expecting to beat us,” said Smith. “Regardless of who deserves to win going into a semi-final, it’’s about who plays best on the day. It’’s a simple matter.” Smith, however, warned Pakistan his team will not be beaten easily. “We are professional and clinical but I think we have also proved that we have enough flair and enough options available to us to be the all-round package,” he said. “We have played at all the grounds, we have faced many different challenges on different wickets and defended low totals. “So I think we are a well-rounded team going into the semis. We just need to give ourselves the best chance on Thursday and play our type of cricket.” Sri Lanka face the West Indies in the other semi-final at the Oval on Friday, with the final scheduled to take place at Lord’’s on Sunday.
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