ISLAMABAD: The Supreme Court on Thursday dismissed constitutional review pleas of a number of those judges who had taken oath under Provisional Constitutional Ordinance on November 3, 2007, against orders of its Registrar office jurisdiction to place objections.

A five-member bench comprising Justice Nasirul Mulk, Justice Raja Fayyaz Ahmed, Justice Jawwad S. Khawja, Justice Rahmat Hussain Jafferi and Justice Tariq Parvez dismissed the plea after Dr Abdul Basit, the counsel for former judges, contended that first, he wanted a written order on his preliminary objection to presence of two judges of the bench who had recused on last hearing.

Dr Abdul Basit resuming his arguments said that when a judge recused himself from a case, he could not join a review.

He said without deciding the preliminary objection, it would be a partisan approach to the issue especially after insertion of Article 10-A in the Constitution through 18th Amendment which strongly stressed upon right to fair trial.

He requested the bench to decide the matter of objections placed on their pleas by the Registrar office.

Justice Nasir ul Mulk told him that they had noted down his point and he could proceed on merits of the case.

He maintained that after decision on their pleas, the Court could proceed in contempt matters.

Dr Basit said that after decision against PCO judges those fellow judges were served with contempt notices under Section 204 of the Contempt of Court Act 1976 instead Section 209.

He said under Article 204 of the Constitution read with Sections 3 and 4 of the Contempt Act, the Registrar office returned their pleas against which he raised his objections.

“Our fault was that we had taken oath as judges which was prerequisite. We have followed the principle laid down in Zafar Ali Shah case in which it had been held that it would be fault on part of a judge to perform his duties without taking an oath of the office,” he added.

Taking to media personnel after proceedings he said that the Office could not impinge upon his right of appeal and the institutional branch could not perform functions of judicial officers.

Basit said that institutional branch had returned its constitutional plea with objections that he had already availed that remedy.

He said that judicial powers could be exercised by the concerned officers and not by administrative side.

The pleas were filed by former Justice Iftikhar Hussain Chaudhry former CJ LHC, Justice Hasnat Ahmed Khan, Justice Syed Shabbar Raza and Justice Syed Hamid Ali Shah.

Hearing review petitions filed by PCO judges affected by the apex court’’s July 31 verdict, a 14-member larger bench headed by Chief Justice of Pakistan Iftikhar Muhammad Chaudhry had served contempt of court notices upon those judges after observing that they had violated its earlier order and tried to violate the Constitution therefore, liable for contempt of court.

The contempt of court notices were served upon 60 judges of the Lahore, Peshawar and Sindh high courts. A number of them had rendered unconditional apology and resigned from their posts.

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ISLAMABAD: In a latest twist to the worsening dispute between the Punjab and Sindh over the Chashma-Jhelum Link Canal, the Indus River System Authorit

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HONG KONG: Asia-Pacific stocks surged on Thursday thanks to a strong lead from Wall Street, receding worries about Europe and sound employment figures from Australia.

The Nikkei index of the Tokyo Stock Exchange added 2.76 percent to reach 9,535.74 points, led by exporters and euro-sensitive stocks, which benefit when the yen is weaker.

The upswing came despite numbers showing a much sharper fall than expected in Japan’’s core private-sector machinery orders, a key indicator of corporate capital spending.

The orders dropped 9.1 percent in May from the previous month, compared with a forecast 3.0 percent.

Investor sentiment was buoyed by hopes that soon-to-be released results of “stress tests” could show European banks are in reasonable shape.

The Nikkei index could reach 10,500 if the test results meet expectations, said Yutaka Shiraki, senior equity strategist at Mitsubishi UFJ Morgan Stanley Securities.

“As jitters over European financials” stress tests wane, excessive market pessimism is starting to fade,” he said.

Among the gainers were exporters such as Mazda Motor, up 3.92 percent and Sony, which rocketed 4.39 percent.

Australian stocks had their biggest rally in a month, with better-than-expected jobs data powering up the market 2.4 percent.

Unemployment held steady at 5.1 percent in June, matching May’’s rate, which was revised down.

The benchmark SP/ASX200 gained 102.1 points to 4,356.7.

Banks led the charge, mirroring Wall Street, with ANZ finishing 4.29 percent higher and the other major banks all up over two percent.

“We got a bit of a kick along from the strong jobs data,” said CMC markets analyst Matt Lewis.

Hong Kong was up 0.97 percent, with traders pointing to a slight boost from
Wall Street but the market generally lacking lustre.

The benchmark Hang Seng index closed up 193.49 points at 20,050.56 on turnover of 45.48 billion Hong Kong dollars (5.84 billion US), led by bank and finance heavyweights such as HSBC (up 2.5 percent) and Standard Chartered (up 4.5 percent).

Shanghai closed down 0.25 percent, with investors remaining cautious ahead
of Agricultural Bank of China’’s blockbuster trading debut next week, dealers
said.

The Shanghai Composite Index, which covers both A and B shares, was down 5.97 points at 2,415.15.

Chen Jinren, an analyst at Huatai Securities, said AgBank’’s expected weak debut would hurt already poor sentiment.

Singapore’’s Straits Times Index closed up 1.26 percent at 2,897.15, with container shipping firm Neptune Orient Lines gaining 4.7 percent.

Wall Street surged earlier on the back of solid gains chalked up by financial companies, with the Dow ending 2.8 percent higher to close above 10,000 points.

The International Monetary Fund said on Thursday that while Asia would grow strongly, “downside risks” had intensified due to turmoil in the eurozone area, a key market.

The IMF raised its gross domestic product growth forecast for Asia in 2010 to 7.5 percent from 7.0 percent, but said a drawdown of stimulus programmes in several countries would mean Asian GDP moderating to 6.8 percent in 2011.

“Many Asian economies… are highly dependent on external demand, and their export exposure to Europe is at least as large as their export exposure to the United States,” the report said.

In Tokyo however the euro rose to an eight-week high against the dollar as risk-taking sentiment grew with the higher stock prices and good Australian data.

The euro briefly rose past 1.2680 dollars to trade at its highest level since mid-May before easing back to 1.2653 in the afternoon, still up from 1.2630 dollars in New York late Wednesday.

The euro rose to 111.77 yen from 110.99 yen. The dollar climbed to 88.34 yen from 87.80 yen.

On Asian oil markets, New York’’s main contract light sweet crude for August delivery was up 46 cents at 74.53 dollars a barrel and Brent North Sea crude, also for August, was up 43 cents at 73.94 dollars.

Gold ended at 1,204.00-1,205.00 US dollars an ounce in Hong Kong, up from Wednesday’’s close of 1,190.00-1,191.00 dollars.

In other markets:

– Manila closed 1.44 percent higher, with the composite index rising 48.08 points to 3,398.16.
Top-traded Philippine Long Distance Telephone rose 1.03 percent to 2,445 pesos and DMCI Holdings rose 4.17 percent to 18.75 pesos.

– Taipei’’s weighted index rose 0.99 percent, or 74.39 points, to 7,608.85.
Formosa Plastics rose 1.86 percent to 71.3 Taiwan dollars and TSMC was 1.52 percent higher at 60.4.

– Seoul closed 1.37 percent higher on foreign and institutional buying of blue chips. The benchmark KOSPI ended up 22.99 points at 1,698.64.

– Kuala Lumpur closed up 0.32 percent, or 4.28 points, at 1,316.03.
Budget carrier AirAsia climbed 1.5 percent to 1.36 ringgit and CIMB bank rose 0.7 percent to 7.05 but plantations giant IOI Corp slid 0.6 percent to 5.06.

– Bangkok edged up 0.35 percent, or 2.89 points, to 817.57.
Banpu fell 10.00 baht to 622.00, while PTT Plc ended flat at 247.00 baht.

– Jakarta rose 0.48 percent, or 13.86 points, to 2,915.90 as gains in automotive and select mining blue chips kept the index positive.
Car distributor Astra International gained 1.6 percent to 47,000 rupiah, while miner Antam rose 1.5 percent to 1,960 rupiah.

– Mumbai rose 1.03 percent on optimism about economic growth and robust
monthly car sales data. The benchmark 30-share Sensex index closed up 180.7 points at 17,651.73.
Banking and software stocks rose: India’’s largest bank, State Bank of India, rose 2.29 percent, or 52.8 rupees, to 2,356.75, while major software exporter TCS rose 1.7 percent, or 13 rupees, to 776.8.

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ISLAMABAD: Newly-appointed ICC President Sharad Pawar says immediate resumption of cricket ties between India and Pakistan is not possible.

“Immediate ties between both countries are not possible. It is not in the hands of the Cricket Boards. It is a diplomatic issue. This is a decision taken by the Indian government,” quoting Pawar an Indian television channel reported Thursday.

Asked about demands for the introduction of day-night Tests to save the longer format of the game, Pawar said the “issue has not reached his ear”.

“We are only administrators. If needed, I will let the experts take a call (on the issue),” he said.

To a query whether the ICC was mulling to shift its headquarters back to England, Pawar said, “In England, there are 40 per cent taxes while there are no taxes in Dubai. The moment England thinks similarly about cricket we will consider it.”

Pawar said he was confident about BCCI President Shashank Manohar`s integrity to handle the controversial Lalit Modi issue.

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LAHORE: Pakistan cricket team coach Waqar Younis said missing senior players Yusuf and Younis unfortunate for Pakistan team.

In an interview, Waqar said Pakistan will miss Yusuf and Younis in Test matches against England and Australia because both are experienced players. It is unfortunate that both players could not be a part of playing squad despite several efforts.

Waqar expressed confidence on young players and said he is expecting positive results from them also in Test matches.

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LAHORE: Pakistan Muslim League (PML-N) chief Mian Nawaz Sharif said it was a public support that contributed to the restoration of the judiciary, Geo News reported Thursday.

Talking to media before leaving for London along with Punjab Chief Minister Shahbaz Sharif, he said the government measures are posing hazards to democracy, urging the government to accept the verdicts of the higher judiciary.

The government should not try to behave as court, he stressed.

Reacting to the present stand-off between judiciary and the government, Nawaz said the institutions are being ridiculed and the entire country is witnessing it.

Deploring the letter written by the official of National Accountability Bureau (NAB) to judiciary as highly condemnable, Nawaz said the effort is afoot at present to make the courts controversial, adding his party cannot attest to this maligning drive, which is aimed to keep under wraps government failures.

On this occasion, the PML-N chief said he wont play a silent spectator on grave misconduct of the government, adding, ?We should support the courts.?

Voicing his mistrust and disapproval of the Nab, as being the contrivance of a specific mindset and a tool created by former General (rtd) Pervez Musharraf for translating his nefarious designs, he said the Bureau has been established to persecute and torment innocent people like Javed Hashmi.

Rs50 billion involves the scam of Bank of Punjab (BoP), which amounts to half of the Kerry-Lugar Bill, Sharif informed adding this is such a huge amount that the PML-N cannot let the issue go unattended.

He continued, ?The government should show out the suicide bombers present among government ranks, who would ultimately ruin the government to the core.?

Speaking on the occasion while responding a question, Punjab Chief Minister Shahbaz Sharif said the Punjab government never commented on any sabotage activity in any part of the country; instead, ?we prayed to Almighty Allah with our raised hands to accord the country a life in peace.?

?We had a disastrous bombing at Marriott Hotel in Islamabad; but, we did not react by saying the federal government failed on tackling the terror issue.?

Nawaz added that Punjab government always responded positively on such occasions when terror befell any part of the country.

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ISLAMABAD: Tehreek-e-Insaf Chief Imran Khan Thursday said he has proof of rigging carried out by Punjab government in the by-elections of PP-160 and that he will soon challenge the poll results.

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KARACHI: While commenting on the Indus River System Authority’’s (Irsa) decision to release water into the Chashma-Jehlam Link Canal, Sindh Minister for irrigation, Syed Murad Ali Shah has blamed the authority for pitching the provinces against each other for the last ten years.

He was speaking to Geo News after a meeting at CM House, presided over by the Sindh CM Syed Qaim Ali Shah. He supported the statement of Punjab CM Shahbaz Sharif that the Punjab would not give his share of water to anybody.

The minister criticized Irsa and Wapda, Irsa for taking such a controversial decision without convening the meeting and Wapda for implementing it.

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KARACHI: The Karachi Stock Exchange’’s (KSE) benchmark 100-share index, ended 0.73 percent, or 71.30 points, higher at 9,860.99. Turnover was 77.94 million shares, up from 50.55 million shares traded on Wednesday.

The index edged higher amid renewed interest from local investors on hopes that margin buying would soon be reintroduced in the market.

KSE authorities and the Securities and Exchange Commission of Pakistan (SECP) met last month to discuss margin buying and other leveraged products, and decided to form a committee required to submit its recommendations within 15 working days.

A meeting of the stakeholders to discuss the issue took place on Thursday, dealers said, though further details were not immediately available.

“The ongoing meeting regarding leverage products enticed Investors enough to remain active through out the day,” said Samar Iqbal, a dealer at Topline Securities.

“Continued institutional support enhanced volumes, while modest profit taking from retailers was also witnessed towards the end of the session.”

The rupee edged further lower on Thursday to close at yet another record closing low against the dollar - its third in as many days - but dealers said sharp falls were unlikely in coming days.

The rupee ended at a record 85.65/70 to the dollar, down from 85.61/66 on Wednesday.

“The demand for the dollar from importers is persisting, therefore, we saw the rupee slide further today,” said a dealer at a local bank.

“However, we also saw some exporters selling dollars in the market to take advantage of the higher values, which improved dollar supplies,” he said.

Dealers said they expected the rupee to hover around current levels in days ahead, and said while it can ease slightly further, any major fall was unlikely as dollar supplies improved and demand also expected to subside.

In the money market, overnight rates rose to end at 12 percent from 11.0-11.5 percent a day earlier, and dealers expected them to remain around current levels near-term.

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LAHORE: Dangerous for human consumption, liquid cat food is being sold as juice in Lahore, an investigation revealed Thursday. The said juice is very popular among the kids, report added.

The product was tempered with to look like a fruit juice.

Western scientists have declared this unfit for cats as well. Whiskas is a famous international cat food brand.

Renowned veterinary surgeon Prof Athar Khan told Geo News that the said food was given to animals with medicine.

Lahoriites have shown great concerned over the issue, saying sale of animal food as human food in the country?s one of biggest cities has put the question mark on government’’s efficiency.

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