Tuesday, 17 December 2013

Top searches in Pakistan are for Indian content, Google Zeitgeist reveals

Aashiqui 2, Chennai Express among the top searches in Pakistan for 2013. PHOTO: PUBLICITY
Google announced its annual Year End Zeitgeist, a look at 2013′s top searches and trends. The Pakistan section revealed that the maximum number of overall searches were focused on Indian content, and Bollywood in particular.
According to a press release, this year’s searches showed a growing interest in sports, Bollywood, news, the elections and Turkish dramas.
The top people search indicated that Pakistanis follow a variety of local and international personalities. The top three names searched for were Paul Walker, Jiah Khan and Nelson Mandela.
Following sports online remained Pakistan’s top trending search, while Aashiqui 2, a Bollywood blockbuster earned the second top search spot. Chennai Express bagged the top third search position.
Top Trending Searches for 2013
1.    PTV Sports Live
2.    Aashiqui 2
3.    Chennai Express
4.    Bigg Boss 7
5.    Dunya News
6.    ZindagiGulzarHai
7.    Jang newspaper
8.    ECP
9.    Krrish 3
10.  Mera Sultan
Top Trending People for 2013
1.    Paul Walker
2.    Jiah Khan
3.    Nelson Mandela
4.    Maryam Nawaz
5.    ShraddaKapoor
6.    AltafHussain
7.    Imran Khan
8.    Alia Bhatt
9.    Sara Bharwana
10.  SurajPancholi
Top 10 Global Trending Queries for 2013

  1. Nelson Mandela
  2. Paul Walker
  3. iPhone 5s
  4. Cory Monteith
  5. Harlem Shake
  6. Boston Marathon
  7. Royal Baby
  8. Samsung Galaxy S4
  9. PlayStation 4
  10. North Korea

Making it affordable: Gold for as low as Rs50

Investors could initiate a request for physical delivery to a broker as soon as their investment amount becomes equivalent to 10 tolas of gold. PHOTO: FILE
KARACHI: 
The Pakistan Mercantile Exchange (PMEX) launched the first-of-its-kind, gold-based savings product yesterday that enables small investors to buy, sell and accumulate the precious metal with ease and peace of mind.
Milli Tola Gold allows investors to purchase gold in small amounts, starting from as low as Rs50. Gold is stored in PMEX’s vaults and will be electronically tradable. Milli Tola Gold provides the option of taking physical delivery of the product as well.
Tameer Microfinance Bank Chief Executive Officer Nadeem Hussain conducted the first transaction at the PMEX premises, as his bank has partnered with the body to introduce Milli Tola Gold contracts through its Sarmaya centres.
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PMEX and Tameer Microfinance Bank had signed a memorandum of understanding in March 2013 to offer a gold-based product, which would provide an opportunity to all income strata to invest in gold with trust, security and convenience.
Speaking on the occasion, PMEX Managing Director Ejaz Ali Shah said the product is available in small lot sizes, which makes it easy for people to invest in gold with cash flow ease and convenience and save it securely in PMEX’s custody.
“On one hand, it enables every Pakistani to invest in gold with convenience, security and ease of liquidity, and on the other hand, it offers a huge opportunity to PMEX brokers to expand their business by offering services to a much wider market segment,” Shah said, while adding that this could be accomplished by cultivating partners having access to the customers like credit cards and telecom companies in order to take this product to every house in Pakistan.
Hussain, while speaking about ‘Milli Tola’, said that the product will promote financial inclusion in society through small savings and investments in gold.
He said that the product had been designed to be as liquid as possible with the feature to encash investments within 24 hours.
Likewise, he added that the product allowed investors to safely store gold in PMEX’s vaults without any additional cost, while ensuring that each Milli Tola Gold contract is backed by physical delivery of gold.
“Gold is one of the most popular investment vehicles among Pakistanis. Using this product, they can start saving in gold through small lot sizes,” Hussain said, while adding that an investor could initiate a request for physical delivery to a broker as soon as their investment amount becomes equivalent to 10 tolas of gold.

PASSCO managing director faces corruption probe

Latafat alleged that Managing Director Lieutenant Colonel (Retired) Muhammad Younis had withdrawn Rs2.8 million illegally from the organisation in the name of “arrears” and a general manager also did the same and withdrew Rs1.5 million. ILLUSTRATION: JAMAL KHURSHID/FILE
LAHORE: The managing director of Pakistan Agriculture Storage and Services Corporation (Passco), which is expected to buy wheat worth Rs55 billion in the harvesting season next year, is facing charges of corruption and abuse of authority, The Express Tribune has learnt.
The Auditor General of Pakistan, on the directive of Finance Minister Ishaq Dar, has asked an audit firm to take custody of Passco’s record pertaining to pay structure, payments, procedure for fixing and re-fixing the pay, last pay certificates of the accused and personal files.
The move came following an application sent by All Passco Staff Union President Rana Latafat to the finance minister on November 7.
Latafat alleged that Managing Director Lieutenant Colonel (Retired) Muhammad Younis had withdrawn Rs2.8 million illegally from the organisation in the name of “arrears” and a general manager also did the same and withdrew Rs1.5 million.
Younis, General Manager Human Resources, was given the additional charge of managing director when the federal government removed the incumbent on August 24 over complaints of dubious recruitments.
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In May, the Passco management, under the former managing director, allegedly recruited 50 men in a dubious manner during the tenure of the interim government against quota for promotion of serving employees.
“The recruitments were made on national pay scales 5 to 19 from junior clerks to the deputy general manager without meeting the criteria and standards,” said an official who requested anonymity.
Of these, seven were retired army men including five lieutenant colonels and two majors, who were offered hefty packages.
According to Latafat, a probe into leakage of paper during the recruitment process and induction of new men is going on. In this case, Younis is the main accused.
The Passco staff union also wrote two letters to the prime minister over the recruitments to seek his intervention and, resultantly, the former managing director was called back by the Establishment Division.
“We have requested the prime minister to post a competent and honest MD from the civil services to save Passco and ensure purchase of wheat worth Rs60 billion in transparent ways,” said Qasim Tarar, Union’s General Secretary.
In the past, the government, in the absence of a permanent managing director, constituted a penal of three senior general managers to strike financing deals with banks for commodity purchase to avoid abuse of authority.
“Now, a single man who is facing corruption charges is doing all tasks,” another official said.
When approached, Younis stressed that there was no truth in the corruption charges and the union was resorting to blackmail to harass the management.
“Passco has not yet received any final wheat procurement target from the ministry and all arrangements will be finalised at an appropriate time,” he said.
Recruitments in the past were made considering the merit, but the union was raising hue and cry as its interests were not protected in the process, Younis claimed.
No permanent head
“Passco, a state-owned organisation with the critical task to ensure food security in the country, is being run without a permanent head since August and is encountering hurdles to finalising loan deals with banks for wheat purchase,” an official aware of the matter said.
Owing to this, arrangements for the purchase of 1.4 million tons of wheat as well as purchase of gunny bags, polypropylene, kits, pesticides and tarpaulin were in jeopardy, he said.
According to the procurement manual, Passco should start finalising all arrangements from mid-December to start the procurement process in May.

World Bank interested in providing $192m, say officials

SIDA has been entrusted with implementing the Water Sector Improvement Project-I, at a total cost of $175m, to be completed by 2015. PHOTO: FILE
KARACHI: Officials of the Planning and Development Department said the World Bank is interested in providing financial aid of up to $192 million to improve the earthen watercourses during a meeting held at the Chief Minister House on Monday, adding that negotiations were underway.     
Chairing the meeting, Sindh Chief Minister Syed Qaim Ali Shah said the Sindh Irrigation and Drainage Authority (SIDA) needed to be revamped and re-organised to enhance its capacity and to ensure its performance up to growers’ expectations.
The chief minister constituted a committee, headed by Additional Chief Secretary Development with Secretary Irrigation, Managing Director SIDA and a representative from Sindh Chamber of Agri-Culture, to discuss, deliberate, collect ideas and expertise before submitting proposals within two weeks.
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The chief minister said that the Sindh government places importance on the irrigation sector and, as such, an annual Rs12 billion has been allocated for development works, while Rs35 million is provided to SIDA for its operational activities per year. He said the benefits of such a huge amount must reach the final consumers.
Shah added that, conceptually, SIDA was a good and viable organisation for equitable water distribution through the participation of beneficiaries themselves, but there are some structural, administrative and power sharing difficulties that hold the organisation back from its true potential.
The chief minister said that in addition to the development projects assigned to it, SIDA has been entrusted with implementing the Water Sector Improvement Project-I (WSIP-I), at a total cost of $175 million, and complete it by 2015.
Addition Chief Secretary, Arif Ahmed Khan, said that keeping in view future requirements, another project that would be aimed to improve and line the 5,000 water earthencourses was being conceived.
He said that though the SIDA has not delivered up to expectations, there are some bottlenecks in the system that needed to be removed. He also floated a proposal for the application of the method of public private partnership for distribution of irrigation water.

Getting ready: SITE body calls for GSP Plus preparation

Younus Bashir stressed upon the need of self-sustainable special economic zones for the purpose of producing exportable commodities on a 24-hours basis. PHOTO: AFP/FILE
KARACHI: SITE Association of Industry Chairman Younus Bashir said that the government should prepare a comprehensive strategy for the textile sector to ensure that the country benefits from the grant of GSP Plus status which is very important under the current circumstances.
He stressed upon the need of self-sustainable special economic zones for the purpose of producing exportable commodities on a 24-hours basis.
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“Such a zone will be very successful where a developer can develop an area, produce its own energy requirements, place effluent treatment plant and implement international labour organisation regulations and other social compliances,” said Bashir.
He hailed the decision of the European Parliament granting the status to Pakistan and said that the industrialists of SITE – one of the oldest and biggest industrial zones in the country – are overwhelmed by this decision.
“This is a success of the government that did proper lobbying at the right forum” Bashir added.

Sandman movie wakes up with Joseph Gordon-Levitt

Joseph Gordon-Levitt
Sleeping on the job ... Joseph Gordon-Levitt. Photograph: Robyn Beck/AFP/Getty Images
An adaptation of Neil Gaiman's Sandman comic books has taken a step closer with the news that Joseph Gordon-Levitt has become attached to the project, with a view to directing and/or acting in the resulting film.
The 500 Days of Summer and Inception star is currently riding high after the success of his directorial debut Don Jon, which has given him increased creative clout in Hollywood. He has joined forces with Batman Begins/Man of Steel writer David S Goyer to work on the project, though no writer has yet been hired.
Gaiman's Sandman series, which originally ran between 1989 and 1996, and which revolve around a figure called Dream, has been regularly targeted for film adaptation, but nothing as yet has materialised.

Gordon-Levitt subsequently tweeted: "I've signed on as a producer on Sandman. The rest remains to be seen. Delighted you guys are excited. I am too!" Gaiman, a prolific user of social media, is yet to issue any comment, though his retweeting of Gordon-Levitt's announcement suggests he approves. An earlier tweet from Gordon Levitt implies Gaiman himself is involved in the adaptation.

Meanwhile, Gordon-Levitt has also tweeted a photo of himself recording the English language voice track for Hayao Miyazaki's The Wind Rises.The latest film from the Japanese animation maestro has proved controversial as it is a biopic of the designer of the country's feared wartime Zero fighter plane, but it has not prevented the film from registering a presence on the US awards circuit, including a Golden Globe nomination for best animated film.

Car insurance too high, says Competition Commission

Car insurance premiums
The Competition Commission is also concerned about the relationship between price comparison websites and insurers. Photograph: Rui Vieira/PA
Car insurance premiums are too high, with the way no-fault claims are settled and contracts between insurers and price comparison sites among the issues driving up costs for consumers, the competition watchdog has said.
The Competition Commission's investigation of the £11bn motorinsurance market found it was not working well for motorists . It said too many drivers were footing the bill for unnecessary costs incurred during the claims process following an accident, and that this is adding between £150m and £200m a year to motorists' premiums.
These costs are initially borne by the insurers of at-fault drivers, but they feed through into increased insurance costs for all drivers.
The watchdog is also concerned about the relationship between price comparison websites and insurers, saying that when comparison sites demand exclusive deals this can reduce competition and push up premiums.
Alasdair Smith, who is leading the investigation, said: "We are now considering a range of possible measures – some of them far-reaching reforms – to ensure that the market better serves the interests of customers."
Smith said that in most cases the party managing the accident claim – typically the non-fault insurer or intermediary – was not the party liable to pay the costs of the claim.
"There is insufficient incentive for insurers to keep costs down, even though they are themselves on the receiving end of the problem," he said.
The commission is considering whether to make a driver's own insurer responsible for providing a replacement vehicle or to give at-fault insurers greater opportunity to take control over managing claims.
There may also be caps on the cost of providing a replacement vehicle and on repair costs, as well as compulsory audits of repair quality after the watchdog found that following an accident too many repairs were not completed to the required standard.
Other provisional findings identify problems with the sale of add-on products, as it is hard for consumers to find the best-value products.
It said motorists have limited information about such insurance products, while insurers have point-of-sale advantage.
The Association of British Insurers (ABI) said it hoped the commission's work would lead to lower premiums for customers.
Its head of motor insurance, James Dalton, said: "As an industry we remain absolutely committed to improving the car insurance market for hard-pressed motorists.
"We asked for the commission's inquiry into the market to help insurers continue the work we are already undertaking to remove costs that unnecessarily drive up car insurance premiums. So today's possible remedies are a further step along the road to getting a market that enables insurers to deliver fully for consumers."
He added: "We look forward to continuing to engage with the Competition Commission as it carries forward its work and we hope this will lead to further improvements in the market and lower premiums for customers.