Friday, 28 February 2014

Salman Toor: Using his canvas to alter reality

Artist melds consumer and social fantasies perpetuated with a Renaissance-era spirit of light, technique and idealism.
LAHORE: 
Every time he works in the studio, he is compelled to create a masterpiece, like it’s the last painting he’ll ever paint. This is Salman Toor, a painter who graduated from The Pratt Institute with an MFA in 2009.
Traditional storytelling devices attract him — such as the way narratives unfold in the fiction of Daniayal Mueennuddin, the 19th century French writer, Guy de Maupassant, children’s storybooks and illustrations, and the Renaissance compositions of colourful Venetian painters like Paolo Veronese. He doesn’t expect the common reader to know the significance of these painters, but it might be enough to know that they were Christian painters who rediscovered the Roman love affair with the human body. They created decorations for the churches and palaces of Venice during the economic boom, now known as the Venetian Renaissance.
The main challenge for Toor is to use the sensual qualities of paint and the human body in a context larger than itself. Toor says, “When I paint, one of the things I think about is the ubiquitous (and quite tiresome, given the prevalence of Smartphone use) role of photography in today’s world.”
He believes that painting can only be relevant if it transforms our perception in a way that photography possibly cannot. The way the world is edited when reality is translated by a draftsman on to a plain surface, is where the magic of figurative paintings resides. A painter can exercise the kind of total tyrannical control over the image, in a way that photography cannot.
Skill is usually considered quite a useless thing in today’s art world (with a few famous exceptions). What matters most is the gesture, the concept, the bare distillation and ambitious scale. “In that respect I feel like I have more in common with a talented local carpenter than I do with a contemporary visual artist (except for my education). Uncomfortable situations that describe the identities of participants of our society are particularly fun to paint for me,” he says.
In his paintings, poverty, glamour and beauty oscillate between caricature and reverence in a land of daisies and four-leaved clovers. He often uses smiling faces in his work, because sometimes images or poses are culled from advertisements, but when they’re translated in paint, the images that look mundane and forgettable acquire a foreboding quality under the veneer of frivolity.
He tries to meld consumer and social fantasies perpetuated by the mass-media of urban India and Pakistan, with a Renaissance-era spirit of light, technique and idealism in order to present a unique vision of the complexities and exchanges between South Asian popular culture and the historical traditions of Western idealization.
Maid with flowers 
One of his recent paintings, Maid with Flowers, has been made using oil on canvas. It’s a maid with a vase of flowers on a tray with teacups, walking in an imaginary cartoony landscape. You can see a glimpse of it at the bottom. The landscape consists of rolling hills, poplar trees and a cosy little hut, similar to art seen on truck-art and calendars with Swiss landscapes. The landscape represents the vulnerability of the liberal upper and middle classes, whose wonderland is as thin as a soap bubble. Toor says, “This story gives me a chance to combine two very different worlds: one of all the possible implications of the servitude of an attractive servant girl, and the other of the world of Alice’s adventures in wonderland, Hansel and GretelJack and the Beanstalk, and The Little Mermaid.”
Schoolgirls
Schoolgirls was made using Charcoal & Ink on Paper. With this drawing, Toor started out wanting to do a cartoon of a schoolgirl, but it developed into an actual person. The idea of a schoolgirl in this country has been transformed in the past few years.  She is the essence of all things vulnerable and innocent. She is a popular victim of the tyranny and terror of religious fanatics. This is the feeling about a schoolgirl he wanted to convey in the picture. He wanted her to be like Little Red Riding Hood in a seemingly safe setting with cute little flowers and streams and old trees. Toor said, “In this way I hoped to give a sense of her cluelessness with regard to the rites of passage of a potentially dangerous place.”
Toor is inspired by the best moments of over 300 painters, whose works are primarily in museums in Europe and the United States — Anthony Van Dyck, Rubens, Velazquez, Titian, Bernardo Strozzi and Veronese, to name a few

Health experts emphasise media's role in spreading polio awareness

PHOTO: FILE
KARACHI: Health experts believe that the role of the media is crucial when it comes to reporting on polio, for if done effectively, it can help understand where the problems actually exist.
This was the consensus at the one-day training held for journalists on reporting polio. The event, held at the Pearl Continental Hotel on Thursday, was organised by the United Nations Children’s Fund (UNICEF) in collaboration with the Extended Programme on Immunization (EPI) Sindh and the World Health Organization.
Explaining the precarious situation and threats of polio cases in different parts of the country, especially in Karachi and Peshawar, experts urged that it was the need of the hour to involve all the people of Pakistan to save the country’s future.
“Pakistan’s position was much better than India in 2010 and the neighbouring country has almost overcome the situation. We can do it too,” stressed Dr Iqbal Ahmad Memon, the president of Pakistan Pediatric Association Centre. “The EPI centres should be visible and accessible to the general public as they could voluntarily visit them.”
Appreciating the government’s efforts and responsibility, Dr Memon said that Rs17,000 to Rs18,000 are being spent on each child, saying that over 98 per cent of the issue has been resolved across the world since 1988 due to vaccination.
“If there is no polio case reported for three consecutive years, it means that the country is polio-free,” he said.
Dr Durenaz Jamal, the EPI Sindh’s deputy programme manager, admitted that 2013 was not a good year for Sindh.
“At least ten polio positive cases surfaced and all possible efforts are being taken to overcome the situation this year,” said Dr Jamal.
Briefly elaborating on the situation across the province, Dr Jamal said that the Sindh government was seriously considering replicating the polio drive in Peshawar.
“Eight cases were reported in Karachi in 2013 as compared to zero case in 2012 and nine cases in 2011,” she briefed.
“The responsibility of the media is very important and without understanding the issue, reporting on sensitive issues like polio is very difficult,” said Badar Alam, the editor of Heraldmagazine. He advised participants not to rely on single sources, saying to be accurate, brief and clear on every story.
Tahira Yasmeen, a social worker who works in Karachi’s high risk area, Gadap, appealed to the media to report positively instead of creating hype. “This will only disturb our efforts. We need to take extra care when reporting polio stories.”
An office bearer of the Rotary International, Asher, said that his organisation was involved in polio eradication tasks in various parts of the country, including the country’s borders as well as Sindh’s.
According to him, the implementation plan was being enforced in Sindh’s Mirpurkhas, Karachi’s Gulshan-e-Iqbal Town, as well as Peshawar, Nowshera, Quetta, Loralai and Turbat

2,000-km march for 'missing' persons nears end

Relatives of missing persons pass through a road during Long March rally. PHOTO:PPI
RAWALPINDI: After 2,000 gruelling kilometres on the road, a band of families led by a 72-year-old are due to reach the end of their protest march over missing relatives in the federal capital on Friday.
They are the relatives of people who have disappeared in Balochistan, allegedly at the hands of the country’s security services.
The marchers, led by a retired banker known as Mama (uncle) Qadir, hope to present a petition to UN officials in Islamabad and meet foreign diplomats to raise awareness of their cause.
“We want to tell (the world) that people are being kidnapped every day in Balochistan, districts are being bombarded and almost every day we are receiving mutilated bodies,” Qadir told AFP on the road close to Rawalpindi.
“We have no more hope in the Pakistani government, which is why we want to talk to international organisations, so they can apply pressure.”
Qadir’s son Jalil Reki, a member of the Baloch Republican Party which is suspected of links to the armed insurgency, was found shot dead in 2011 after going missing.
The marchers set out from Quetta last October, walking first 700 kilometres to Karachi, on the shores of the Arabian Sea, before turning their steps northwards to Islamabad, nestling in the foothills of the Himalayas.
Balochistan, the size of Italy and rich in copper, gold and natural gas, is Pakistan’s largest but least populous province.
It is also the least developed, which has exacerbated a long-running ethnic Baloch separatist movement that wants more autonomy and a greater share of its mineral wealth.
The latest armed insurgency rose up in 2004 and separatist groups still regularly attack Pakistani forces.
Rights groups accuse the military and intelligence agencies of kidnapping and killing suspected Baloch rebels before leaving their bodies by the roadside.
According to Human Rights Watch, more than 300 people have suffered this fate – known as “kill and dump” – in Balochistan since January 2011.
The security services deny the allegations and say they are battling a fierce rebellion in the province.
The Supreme Court has also been investigating cases of missing people in Balochistan, issuing warnings to the government to recover these people.

Aga Khan compares Sunni-Shia conflict to Ireland

The Aga Khan, spiritual leader of Ismaili Muslims, addresses a joint session of Parliament as House of Commons Speaker Andrew Scheer listens in Ottawa February 27, 2014. PHOTO: REUTERS
OTTAWA: The hereditary spiritual leader of the world’s 15 million Ismaili Muslims Thursday compared a conflict between Sunni and Shia Muslims to Ireland, urging the West to engage both branches of Islam.
Speaking to both houses of Canada’s parliament, the Aga Khan said tensions between the two denominations “have increased massively in scope and intensity recently and have been further exacerbated by external interventions.”
“In Pakistan, Malaysia, Iraq, Syria, Lebanon, Bahrain, Yemen, Somalia and Afghanistan it is becoming a disaster,” he warned.
To help bring an end to the strife in these countries, the Aga Khan said “it is important for (the West) to communicate with both Sunni and Shia voices.
“To be oblivious to this reality would be like ignoring over many centuries that there were differences between Catholics and Protestants. Or trying to resolve the civil war in Ireland without engaging both Christian communities.”
Highlighting the span of the crisis, he said: “What would have been the consequences if the Protestant-Catholic struggling in Ireland had spread across the Christian world as is happening today between Shia and Sunni Muslims in more than nine countries.”
Canada is home to approximately 100,000 Ismaili Muslims, who found refuge in this country after being expelled by Ugandan President Idi Amin in 1972.
The Aga Khan himself was made an honorary Canadian citizen in 2010.

Thursday, 27 February 2014

Bradford students union wants IK to sacked ??

imranwide
Serious discontent has grown among students of the University of Bradford over the constant absence of its vice chancellor Imran Khan.
Khan has been so embroiled in Pakistani politics that he hasn’t attended a single graduation ceremony since 2010.
The University’s student union has now floated a motion to drop the cricketing legend turned politician in Pakistan from the highest post. The motion raised by Mohsin Tanveer will be voted on by the student’s union next month.
Tanveer said, “Many students are unhappy with the fact that they have been denied the opportunity to engage with the chancellor on a regular basis.”
Khan was appointed to the post in December 2005 and is the fifth chancellor of the University since its inception in 1966.
The University defended Khan with its chief executive Professor Brian Cantor who runs the university asking students to show sympathy.
Cantor said, “Our chancellor has a major political role in Pakistan, a country which has serious problems with terrorism, education and poverty. While I understand that it is frustrating for students that Khan has not attended an award ceremony at Bradford for some time, I have urged students to be sympathetic to the situation in Pakistan and the responsibility Khan has to improving the state of the country. I have appealed to the better nature of our student body to be more supportive of the work Khan has to carry out as a politician.”

The Germans get serious about making great in-ear headphones

InEar StageDiver headphones
(Credit: InEar)
InEar is a new name to me, but it's an established German maker of high-end headphones. ALO's Ken Ball contacted me a few months ago about trying out some InEars and he sent over two models, the StageDiver 2 and StageDiver 3.
They look similar to custom-molded in-ear monitors from Ultimate Ears and Westone, but the StageDivers are universal-fit models that come with silicone ear tips. The large earpieces rest on the folds of your outer ear, so the fit feels more secure than in-ears that stick out from your ears. Both InEar models have user replaceable cables, and both are balanced armaturedesigns. The StageDiver 2 has two drivers, while the StageDiver 3 has three.
The sound is remarkably clear, but never lean or bass light. There's an open quality to the imaging I find attractive, and I could keep the StageDiver 2 in my ears for hours at a time without ever feeling fatigued. I listened to both StageDivers for several weeks -- that's longer than I usually have time for -- and was consistently impressed by their sound.
Next, I directly compared the StageDiver 2 with a custom $399 Ultimate Ears 4 Pro headphone that are molded to my ears. Both models use dual balanced armature drivers, so it was a fair match. First thing, the UE 4 Pro definitely produces better isolation from environmental noise, but purchasing any custom molded headphone requires a visit to an audiologist to make ear molds, and that usually runs $50 to $75. That's not required with the Stagedivers -- just pop on the silicone tips and you're good to go.
The UE 4 Pro sounds perfectly clear, but the StageDiver 2 has more "juice." Its richer and warmer balance flatters all types of music. Voices sound more natural; they have more body, and the bass and drums pack more of a wallop. Then there's the stereo imaging: it's wider and more spacious over the StageDiver 2. So other than isolation from noise, the StageDiver 2 outshined the UE 4 Pro in every way.
Next up, I pitted the StageDiver 2 against one of my reference in-ears, the custom-molded Jerry Harvey JH-13 ($1,099). That one was more transparent and pure sounding, but the StageDiver 2's richer tonal balance was still impressive. Moving up to the StageDiver 3 warmed up the balance even more, so if you like to really feel the bass, go for the StageDiver 3. The bass isn't muddy or bloated, there's just more of it. The StageDriver 3's big, wide-open imaging doesn't bunch up the sound inside your head. I'm not a bass freak, so I'd stick with the StageDiver 2. The JH-13 is better overall, but it's more than double the price of the StageDiver 2.
The InEar StageDiver 2 ($449) and StageDiver 3 ($599) headphones are available in the US from the ALO Web site.

California couple finds $10 million in buried treasure while walking dog

A 19th century gold coin is shown in this undated handout photo courtesy of Kagin's, Inc
LOS ANGELES-
A trove of rare Gold Rush-era coins unearthed in California last year by a couple as they walked their dog may be the greatest buried treasure ever found in the United States, worth more than $10 million, a currency firm representing the pair said on Tuesday.
The 1,400 gold pieces, dating to the mid- to late 1800s and still in nearly mint condition, were discovered buried in eight decaying metal cans on the couple’s land last April, said coin expert David McCarthy of currency firm Kagin’s.
“We’ve seen shipwrecks in the past where thousands of gold coins were found in very high grade, but a buried treasure of this sort is unheard of,” McCarthy said. “I’ve never seen this face value in North America and you never see coins in the condition we have here.”
Kagin’s has declined to identify the couple, who according to the firm want to remain anonymous for fear treasure hunters will descend on their property in Northern California’s so-called Gold Country, named after the state’s 1849 Gold Rush.
The couple had been walking their dog when they came across a rusty metal can sticking out of the ground and dug it out. After finding gold coins inside they searched further and found the rest of the cache.
Also unclear is who hid the gold pieces, which were minted between 1847 and 1894, in a variety of 19th-century metal cans on land that eventually became part of the couple’s yard.
McCarthy said it was curious that the containers were discovered scattered across one section of the property at different depths, suggesting that they were not all put there at the same time.
The $20 gold pieces appeared to have been new when they went into the ground and had suffered little damage from being in the soil for so long.
McCarthy said the couple wisely refrained from cleaning the coins themselves and brought a sampling of them to him in little baggies, still covered in soil.
“I picked up one of bags. It was an 1890 $20 gold piece. It was covered in dirt,” McCarthy said, recalling when he first saw one of the gold pieces. “An area of the coin was exposed and the metal looked as if it had just been struck yesterday.”
His company took what became known as the “Saddle Ridge Hoard” to an independent coin-grading service, which found that it was comprised of nearly 1,400 $20 gold pieces, 50 $10 gold pieces and four $5 gold pieces. One of the coins, a so-called 1866-S No Motto Double Eagle, is said to be valued at $1 million on its own.
“The Saddle Ridge Hoard discovery is one of the most amazing numismatic stories I’ve ever heard,” said Don Willis, president of Professional Coin Grading Service. “This will be regarded as one of the best stories in the history of our hobby.”
McCarthy said Kagin’s will sell most of the coins on Amazon for the couple and that a sampling will be displayed at the upcoming American Numismatic Association show in Atlanta later this month

Apple issues fix for glaring security flaw on Mac computers


The Apple logo hangs inside the glass entrance to the Apple Store on 5th Avenue in New York City,

SAN FRANCISCO
Apple Inc has issued fixes for a security flaw in its Macintosh computers that allows hackers to intercept data such as email, patching a major and embarrassing glitch that came to light several days ago.
The security update for users of Apple’s OS X computer operating software follows a fix issued for iPhones last week, meaning all Apple device users now have access to the patch.
The flaw allowed attackers with access to a mobile user’s network, such as a shared unsecured wireless service offered by a cafe, to see or alter exchanges between the user and protected sites such as Google Inc’s Gmail or Facebook.
Governments with access to telecom carrier data could do the same, experts said.
On Tuesday, Apple said in a statement that the Mac security update also improved features such as its FaceTime videoconferencing service and email.
The flaw appeared related to the way in which well-understood protocols were implemented, and how Apple’s software recognizes digital certificates used by websites to establish encrypted connections.
Researchers have said the bug could have been present for months. Apple has not said when or how it learned about the flaw in the way iOS handles sessions, in what are known as secure sockets layer (SSL) or transport layer security. Nor has it said whether the flaw was being exploited.
A spokesman for the company declined to comment on Tuesday.

Beard transplants latest fad for Brooklyn’s hip young men

beard
NEW YORK
Young men wearing pork-pie hats, knitted snoods and stylishly drab clothing are crowding doctors’ waiting rooms in a burgeoning trend: Brooklyn hipsters seeking beard transplants.
Toting photos of perpetually scruffy-faced actors like Jake Gyllenhaal and Ryan Gosling, an increasing number of men in their late 20s to early 40s are undergoing the procedure that can cost up to $7,000, Yael Halaas, MD, a facial plastic surgeon based in Manhattan said on Wednesday.
“The demand for it has definitely increased,” agreed Jeffrey Epstein, MD, a New York facial plastic surgeon who said he did 175 beard transplant procedures in 2013. “One reason is that whole hipster, casual way people like to look.”
Demand for the out-patient procedure completed under local anesthesia, which involves transplanting hair from the top of the head to the face, is growing quickly among those living in Brooklyn’s coolest neighborhoods.
“They are young people who live in Brooklyn, look cool and hip and tend to work in the visual arts,” Halaas said. “I’ve had pork-pie hats in my office and that kind of beige and olive wardrobe they tend to wear.”
New York’s coolest go as far away as Florida to undergo the one-day transformation without raising suspicion.
“We’re seeing Brooklyn hipsters,” said Glenn Charles, a cosmetic surgeon from Boca Raton, Florida, who said a third of his beard transplant patients are from New York.
“They are hiding away for a little while. It takes a week or so to heal up so you’ll have remnants of the surgery show for a week.”
Some smooth-faced young men ask for bushy beards, others are looking for a chic square of hair under the lower lip, known as a soul patch, Charles said.
Some patients seek to fill in bald patches caused by scarring, sometimes from acne, others have difficulty growing any facial hair at all on their own.
While 90 percent of the transplanted hair tends to flourish, it can take up to 10 months to see the full fuzzy result, Halaas said.

Now there’s a smartphone that will self destruct to save its keeper!


smartphone

Boeing Co on Wednesday unveiled a smartphone that appears to come straight from a James Bond spy movie.
In addition to encrypting calls, any attempt to open the casing of the Boeing Black Smartphone deletes all data and renders the device inoperable.
The secure phone marks an extension of the communications arm of the Chicago-based aerospace and defense contractor, which is best known for jetliners and fighter planes.
Such a phone might have prevented damage to Washington’s diplomacy in Ukraine from a leaked telephone call. A senior U.S. State Department officer and the ambassador to Ukraine apparently used unencrypted cellphones for a call about political developments in Ukraine that became public.
Boeing’s tamper-proof phone is aimed at government agencies and contractors who need to keep communication and data secure, according to Boeing and filings with the U.S. Federal Communications Commission.
Made in the United States, the phone runs on Google Inc’s Android operating system. The 5.2-by-2.7-inch (13.2-by-6.9 cm) handset, slightly larger than an iPhone, uses dual SIM cards to enable it to access multiple cell networks instead of a single network like a normal cellphone.
Due to the phone’s security features, Boeing is releasing few details about the wireless network operators or manufacturer it is working with, and has not provided a price or date by which the phone might be widely available, but said it has begun offering the phone to potential customers.
Boeing’s website says the phone can be configured to connect with biometric sensors or satellites. Other attachments can extend battery life or use solar power.
The phone can operate on the WCDMA, GSM and LTE frequency bands and offers WiFi and Bluetooth connectivity.
The company has been developing the phone for 36 months, said Boeing spokeswoman Rebecca Yeamans.
“We saw a need for our customers in a certain market space” that Boeing could meet with its technology expertise, she said.
A sample purchase contract submitted to the FCC says the phone would be sold directly by Boeing or its agents

Indo-Pak Express through to semi-finals of ATP 500

The ‘Indo-Pak Express’ came back strong after suffering from a setback to beat their rivals. PHOTO: AFP
DUBAI: Pakistani tennis star Aisamul Haq Qureshi and his Indian counterpart Rohan Bopanna managed to clinch a spot in the semi-finals of the ATP 500 Dubai Duty Free Championships on Thursday, reported NDTV Sports.
Dubbed as the ‘Indo-Pak Express’, had suffered an early setback losing the first set 5-7 to the powerful tennis duo of Mahesh Bhupathi (India) and Denis Istomin (Uzbekistan).
However, they rallied back 7-6(3), 10-7 through a super tie breaker to clinch the tie.
After playing two sets, the two pairs were neck-to-neck in the first 10 points after the tie breaker. Qureshi and Bopanna then took three points subsequently and put their rivals under pressure.
Bhupathi and Istomin were down by three match points, but only managed to save one as the Indo-Pak Express duo dominated the match within the span of 90 minutes.
The Indo-Pak Express will face Poland’s Tomasz Bednarek and Czech Republic’s Lukas Dlouhy in the semi-final.

Bolt nominated for Laureus award

Jamaican sprint ace Usain Bolt has been nominated for what would be a record fourth Laureus Award. PHOTO: AFP
KUALA LUMPUR: Jamaican sprint ace Usain Bolt has been nominated for what would be a record fourth Laureus Award, while US tennis player Serena Williams is also in the star-studded short-list, organisers said Wednesday.
Joining Bolt as nominees for the prestigious “Laureus World Sportsman of the Year Award” are British distance runner Mo Farah, US basketball star LeBron James, tennis ace Rafael Nadal of Spain, Portuguese footballer Cristiano Ronaldo and German Formula One champion Sebastian Vettel.
Besides Serena, the “Laureus World Sportswoman of the Year” could go to German football player Nadine Angerer, US swimmer Missy Franklin, Jamaican sprinter Shelly-Ann Fraser-Pryce, pole vaulter Yelena Isinbayeva of Russia or Slovenian skier Tina Maze.
US golfer Tiger Woods has been nominated for “Laureus World Comeback of the Year”, together with Brazilian footballer Ronaldinho, Nadal, Isinbayeva and two others.

PR to lay new track between Karachi, Gwadar


pakistan-railways-5431
Pakistan Railways (PR) is planning to lay track to link Karcahi to Gwadar seaport to facilitate traders.
PR sources said on Sunday that the new track would fulfil the needs of transportation of goods to Gawadar in future. Moreover, the PR was in contact with China for preparing studies for construction of Khuzdar, Baseemah, Jacobabad and Dera Ghazi Khan main line ( ML-2) and China would finalise the studies till the end of December 2015.
China will bear all expenditures of the study of laying the new railway line. The PR is focusing on speeding up revenue generating activities under the direction of Minister Khwaja Saad Rafique.
The PR is also working on restoration of ECO train for Turkey via Tuftan and Zahdan. The train will help traders  to transport their goods through train among Turkey, Iran, India and Pakistan.
The department is also planning to construct a dry port for container-holding at Havelian near Abbotabad for facilitating trade with China. After construction of the port, about two million tons of goods could be transported between Khunjrab and Havelian.
The PR minister hoped the railways would soon be able to overcome its deficit.

Corporate results: Indus Motor revs up earnings

The company earned Rs473 million in the second quarter (2QFY14), much better than the Rs287 million it earned in second quarter of fiscal year 2013. PHOTO: FILE
KARACHI: Indus Motor Company (IMC) – the second largest car-maker in Pakistan – has announced a profit after tax of Rs1.35 billion during the first half of fiscal year 2013-14 (1HFY14) ending December 31, 2013, up 38% compared to Rs978 million in the corresponding period last year.
Earnings per share (EPS) of the company increased to Rs17.20 in 1HFY14 compared to Rs12.44 in 1HFY13.
The company earned Rs473 million in the second quarter (2QFY14), much better than the Rs287 million it earned in second quarter of fiscal year 2013.
Global Research on Wednesday reported that the earnings of the company were lower than its estimates of Rs1.44 billion or EPS of Rs18.42. It said that it happened when the import cost of Completely Knocked-Down (CKD) units jumped because of rupee depreciation against the dollar in the first quarter of FY14.
The company also announced an interim dividend of Rs6 per share, which was lower than the estimates of Rs10 per share, the report added.
AKD Research also said that earnings of the company were below its expected 1HFY14 net profit of Rs1.44 billion or EPS of Rs18.39, owing to lower than expected gross margins.
The company’s revenues clocked in at Rs26 billion during 1HFY14 against Rs24.27 billion during the same period of the last year, up 7% year on year (YoY).
The increase in revenues was chiefly supported by a 4% YoY increase in the company’s CKD sales to 15,179 units. On a quarterly basis, revenues depicted a decline of 9% YoY to Rs11.73 billion. IMC’s profits declined in fiscal year 2013 by a significant 23% to Rs3.35 billion compared to Rs4.30 billion in fiscal year 2012.

Trial: Mobile phone operators to test 3G, 4G services

Mobile operators will be granted a free trial licence for 3G and 4G to prepare before its complete adoption. PHOTO: FILE
ISLAMABAD: Mobile phone operators, under the regulator’s decision of granting them a free trial permission on non-commercial basis for 3G and 4G services, will test and finetune services before the spectrum auction takes place.
The Pakistan Telecommunication Authority (PTA) had announced that all mobile operators will be granted a free trial licence for 3G and 4G so that they prepare accordingly before its complete adoption.
A web-based telecom site on Wednesday reported that after the announcement, operators had requested PTA for a No Objection Certificate (NOC) for commencing trial services.
The regulator, in response, had asked the Frequency Allocation Board (FAB) to allocate the required spectrum to cellular companies so they may start offering trial 3G/4G services.
The FAB now has all the necessary approvals from the cabinet division and mobile phone companies are set to launch trial such services soon.
It merits mentioning here that such a testing of 3G services are for trial and non-commercial basis, as operators would not offer high-speed 3G broadband services to customers.
Instead, they will internally test the infrastructure and equipment to get prepared for the proper launch after the auction, planned for April 2014.
The subscribers will be able to enjoy 3G (and possibly 4G as well) within two weeks after the licence auction in April.
When contacted, an official at PTA confirmed that mobile phone operators are being provided with limited permission by the FAB with an aim that telecoms can identify their technical challenges before rolling out the new services to the masses.

Fizzling revenue: Capacity tax could be increased further

The three-main players of the industry are now ready to enter into an agreement with government to increase the tax by another 60%. PHOTO: FILE
ISLAMABAD: 
As the tailor-made capacity tax on production of beverages industry failed to yield results, the three-main players of the industry who designed the system to their benefits are now ready to enter into an agreement with government to increase the tax by another 60%.
Despite significant increase in tax rates the obligations of these players are not likely to go up, as they are successfully under-declaring their capacity to evade taxes, said sources in the beverages industry. However, the obligations of other industry players are likely to increase further.
They are willing to enter into a new arrangement after they failed to uphold their promise of ensuring a 25% increase in tax revenues from the industry after the change in the tax regime.
The change in the mode of taxation from percentage to the fixed amount has already made many small and medium size players uncompetitive, and any further increase in rates will also force major players, except the influential three, to knock the door of the court, according to sources in the Ministry of Finance and the industry. Some of the small players have already gone to the court.
According to the proposal, the tax rate of Rs4.7 million per filling valve or spout on factories, which only have foreign origin filling machines or a mix of foreign and local origin filling machine, is recommended to be increased to Rs7.5 million per filling valve – a 60% increase.
The proposal was pushed by three out of seven main dealers of Pepsi, after the government’s revenues from the industry turned negative despite promises made by these players that there will be a 25% increase in revenues, the sources added. They added that Coca Cola was willing to accept this proposal as its concentrate price was far less than Pepsi, keeping it competitive even after paying higher taxes.
On the recommendation of the players, the rate for the second category which includes factories using local machinery, and third category which includes factories with less than 40 filling valves or spouts installed, had been set at Rs3.76 million per filling valve and Rs1.2 million per filling valve respectively.
The sources said these rates will also be proportionally revised upward.
In the current budget, the PML-N government had increased the rate of federal excise duty on aerated water from 6 % to 9%. However, on the recommendation of these three players, a capacity tax was introduced.
The sources said that these three players were under declaring their capacity, putting other major players at disadvantageous position. The capacity tax system had been abandoned in the 90s after it failed to yield the desired results.
Finance Minister Ishaq Dar and Federal Board of Revenue Chairman Tariq Bajwa had expressed reservations to some of these decisions, revealed sources in the Ministry of Finance.
The sources said that if the capacity system continued, it could become a potential case for National Accountability Bureau (NAB).
The big three sold the capacity tax idea to check massive evasion of a small player that was gradually growing bigger as a result, and hit the interests of one of the major players while taking a significant share of the Faisalabad market, the sources said.
Instead of advising the government to bring the evader under the radar by monitoring and tracking its production and sales through electronic and other means that are available under the Sales Tax law, these players decided to exploit the system to their benefit by using their clout, revealed the sources.
A commission, formed by the Lahore High Court, recommended suspending the capacity tax system.

Pak-India trade normalisation: Dar stresses on non-discriminatory market access

Federal finance minister Ishaq Dar (2nd L) and Federal minister for commerce and textile Khurram Dastagir Khan (L) in a meeting on trade with India. PHOTO: PID
ISLAMABAD: Finance minister Ishaq Dar, in a meeting on examining trade with India on Thursday, said that it should be ensured all concessions offered are on a reciprocal basis with meaningful market access and level playing field for Pakistan’s exports to India.
Held at the finance ministry, commerce secretary Qasim Muhammad Niaz briefed the committee on examining trade with India on the pros and cons of normalisation of trade relations with Pakistan’s eastern neighbours, the benefits that will accrue in export of textile and manufactured goods and on the broader framework of the roadmap to move ahead on non-discriminatory market access for Pakistan’s exports.
Dar chaired the meeting which was informed that all stakeholders have been taken into confidence and concerns of our industry will be addressed in the process.
Commerce Minister Khurram Dastagir Khan briefed the committee on the progress made on addressing Pakistan’s genuine concerns during his last visit to India.
The finance minister said that it should be ensured that all the concessions are on reciprocal basis and concerns of our industry should be taken care in the future arrangement.
Dar added that import from India should substitute our import from other countries which will save valuable foreign exchange.
The minister emphasised that there should be meaningful market access and level playing field for Pakistan’s exports to India.
The committee will present its detailed report to the Cabinet for consideration.
Special Adviser to Prime Minsiter on Foreign Affairs Tariq Fatmi, FBR Chairman Tariq Bajwa, former commerce secretary Zafar Mehmood , Nestle Pakistan Chairman Syed Yawar Ali, Adviser to Finance Ministry Rana Asad Amin and senior officials of the concerned ministries also attended the meeting.

In two years, navy may lose sub-sea edge over Pak

The accident on board Russian-built INS Sindhuratna comes at time when the Indian Navy is grappling with fast deteriorating underwater force levels.
The navy is projected to lose its sub-sea superiority against Pakistan over the next two years. Also, it is nowhere close to China in terms of its submarine fleet.
The Indian Navy currently operates 12 submarines. However, the “viable strength” of India’s submarine arm is much less, factoring in the operational availability of the boats.
By 2015, the force will be left with merely five to six submarines as it begins phasing out the Russian Kilo-class and German HDW Type 209 submarines.

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The size of India’s submarine fleet will roughly be the same as that of the Pakistani Navy in two years. The Pakistan Navy has a fleet of five to six submarines.
China currently operates more than 50 submarines and has chalked out plans to build 15 additional Yuan-class attack submarines.
Even as China scales up its underwater capabilities swiftly, Indian navy’s submarine force levels would be at its lowest in history by 2015, as reported by HT last April, quoting from a confidential defence ministry report. The report had then warned India had “never before been poised in such a vulnerable situation” and the undersea force levels were “at a highly precarious state.”

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“As this critical (undersea) capability is eroded, there is an inverse increase in both capability and strength of the Chinese and Pakistani navies,” the report warned. Six Scorpene submarines are currently being built at the Mazagon Dock Ltd in Mumbai with technology from French firm DCNS under a Rs. 23,562-crore project codenamed P-75. But the first of these boats will not be ready before 2016-17.

In the wake of the recent accidents, the defence ministry may ask the navy to carry out a “safety stand-down,” a designated time for crews to focus on safety-related matters and training to deal with the daunting challenge of reducing mishaps.

Could DiCaprio finally win Oscar?

Could DiCaprio finally win Oscar?
AFP
LOS ANGELES-Could this finally be Leonardo DiCaprio’s year?
Twenty years after his first Oscar nomination, the 39-year-old actor is hoping that he may at last win one of Hollywood’s most prized statuettes come Sunday night. Matthew McConaughey has long been the frontrunner for the best actor Oscar for his turn in “Dallas Buyers Club” - but DiCaprio is increasingly cited as a possible come-from-behind winner.
Critics have lavished praise on the actor for his portrayal of financial crook Jordan Belfort in Martin Scorsese’s “The Wolf of Wall Street,” fueling speculation that Oscar voters could finally give him the Academy Award. DiCaprio portrays the debauched and drug-fueled New York trader from his early days through his relentless rise to the top of Wall Street in the 1990s, and then his disgrace at the hands of FBI investigators.
The hilarious scene where DiCaprio struggles across the floor to get to his car, his limbs paralyzed by an overdose of Quaaludes, risks becoming one of his defining screen moments, along with the prow-of-the-ship “Titanic” scene with Kate Winslet. “Look, there’s a lot of disgusting behavior in this movie,” the 39-year-old - who took home a Golden Globe for the role - acknowledged at a recent lunch for this year’s Oscar nominees.
“We wanted this to be a cautionary tale, and we wanted to accurately portray this darker nature of our culture.” While DiCaprio has never won an Oscar, he was first nominated at the age of 19, for 1993’s “What’s Eating Gilbert Grape?,” and then again for 2004’s “The Aviator” and 2006’s “Blood Diamond.” But his work in films including “Romeo and Juliet” (1996), “Gangs of New York” (2002), “The Departed” (2006) and “Shutter Island” (2010) was overlooked by the Academy of Motion Picture Arts and Sciences.