Abu Dhabi Islamic sees double-digit growth in H2 – CEO

July 18 (Reuters) – UAE lender Abu Dhabi Islamic Bank ADIB.AD expects to report “double digit” profit growth in the second half of the year, its chief executive said on Sunday.

“Our plan is to continue to show double digit growth for the rest of the year,” Chief Executive Tirad Mahmoud told Reuters.

The bank, the second largest Islamic lender in the UAE, posted a 56 percent rise in second-quarter profit earlier in the day as provisions fell. [ID:nLDE6650AH] (Reporting by Stanley Carvalho, Editing by Andrew Callus)

UAE’s Abu Dhabi Islamic Bank Q2 profit jumps

(Reuters) – UAE lender Abu Dhabi Islamic Bank ADIB.AD reported a 56 percent increase in second quarter profit as it recorded lower credit provisions, beating analysts’ forecasts.

The bank, the second largest Islamic lender in the UAE, made a profit of 301.6 million UAE dirhams ($82.1 million) in the three months to June 30, up from 193.1 million dirhams in the same period last year, it said in a statement on Sunday.

Analysts at EFG-Hermes had estimated second quarter profit of 251 million dirhams.

ADIB also said total credit provisions in the second quarter fell to 134.6 million dirhams from 171.4 million a year ago and that total provisions stood at 1.93 billion dirhams as at the end of the quarter.

Shares in ADIB had closed before the announcement was made, ending down 0.4 percent on the day at 2.45 dirhams.

Abu Dhabi Islamic Bank reported a 9.3 percent jump in first quarter profit, but said it may need to take further credit impairments in 2010.

(Reporting by Stanley Carvalho, Writing by Andrew Callus; Editing by Dinesh Nair)

IMF to urge Japan to make early tax hike -Asahi

(For more stories on the Japanese economy, click [ID:nECONJP])

TOKYO July 14 (Reuters) – The International Monetary Fund will propose to Japan’s government that it raise taxes soon to help lower its bulging public debt, the Asahi newspaper reported on Wednesday.

The proposal could come as early as this week, the Asahi reported, citing sources with ties to the IMF. The non-binding recommendation would be part of the IMF’s annual economic assessment of the individual countries that make up the fund, the Asahi said. (Reporting by Stanley White)

Japan Noda: need to carefully prepare next FY budget

July 12 (Reuters) – Japanese Finance Minister Yoshihiko Noda said on Monday the government would have to carefully prepare the budget for next fiscal year, after the ruling Democratic Party and its coalition partner were denied a majority in an upper house election the previous day.

Noda, speaking to reporters, also said the election would lead to the beginning of multiparty debate on reforming the tax code, including the sales tax.

Voters dealt the Democrats a stinging rebuke in the upper house election on Sunday, depriving it and its tiny ally of a majority less than a year after the Democrats swept to power with promises of change. (Reporting by Stanley White)

Pak Army denies taking orders from US

Islamabad, May 12 (ANI): Reacting to statements made by senior military and civilian US officials, the Pakistan Army has said the military leadership does not take dictates from outside the country.

Commenting on a statement of US General Stanley McCrystal that he did not ask Chief of Pakistan’s Army Chief General Pervez Kayani for details regarding operation in North Waziristan, military sources said it clearly indicated that the military leadership does not take dictates from outside Pakistan.

Pakistan is a sovereign state and its military to military relations with other countries are based on equality and mutual interest, The Nation quoted the source, as saying.

“Therefore, there is no question that someone from US will dictate terms to us,” the sources added. (ANI)

Karzai visits wounded Afghan troops at Bagram Air Force base

Bagram Air Force Base (Afghanistan), May 8 (ANI): Wounded Afghan troops received a surprise visitor on Saturday — their President, Hamid Karzai, at the Bagram Air Force base medical facility on the outskirts of Kabul.

Praising their courage, Karzai handed over envelopes of cash to them.

The Afghan President was accompanied by General Stanley McChrystal, the commander of U.S. and Nato forces in Afghanistan.

A foreign news agency quoted him, as saying: “Afghanistan and the United States have began a journey together now for almost eight years to bring security and stability to Afghanistan and to the United States and by extension to the rest of the world and in this undertaking you alongside the Afghan forces are doing all that you can to bring us success.” (ANI)

Teenager faces charges over road death

A teenager has been charged over a fatal crash in Tasmania’s north-west in February.

The 19-year-old from Forest is facing a number of charges, including causing death by dangerous driving, drink-driving and driving while disqualified.

The charges relate to a crash on the Bass Highway at Wiltshire, near Stanley, that killed Drew Betts and seriously injured an 18-year-old woman.

The man has been released on bail to reappear in court at a later date.

Japan Kan:BOJ sees limit to monetary policy for deflation

(For more stories on the Japanese economy, click [ID:nECONJP])

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TOKYO, April 12 (Reuters) – The Bank of Japan thinks monetary policy is effective in combating deflation but that it has its limits, Japanese Finance Minister Naoto Kan said on Monday.

Kan, speaking to reporters after a speech, also said that the government and central bank do not accept that Japan is mired in deflation. (Reporting by Stanley White)

Emirates NBD CFO Sanjay Uppal to step down – sources

DUBAI, April 11 (Reuters) – The chief financial officer of Emirates NBD ENBD.DU, the United Arab Emirate’s third biggest bank by market value, will step down, sources familiar with the matter said on Sunday.

Sanjay Uppal joined Emirates Bank International — which merged in 2007 with National Bank of Dubai to form Emirates NBD — in 2005 as chief financial officer. He previously worked at Standard Chartered (STAN.L). Emirates NBD is one of two local banks that are part of a seven-member panel leading negotiations with debt-laden conglomerate Dubai World [DBWLD.UL]

(Reporting by Nicolas Parasie and Stanley Carvalho; Editing by Amran Abocar)

Riewoldt to have surgery

Injured St Kilda captain Nick Riewoldt will have surgery on Monday to repair a right hamstring injury that is expected to sideline the forward star for two months.

Scans on Saturday revealed a high-grade muscle tendon injury.

Riewoldt is almost certain to miss up to two months, perhaps more, and his absence will be a blow to the club’s finals ambitions.

St Kilda said in a statement that the tendon had not come off the bone, however it was a “significant hamstring injury”.

The surgery will repair the damaged tendon but “does not involved the bone attachment”.

He hurt himself leaping for a mark just before half-time in Friday night’s 10.9 (69) to 4.17 (41) win over Collingwood.

Lyon pointed to the win as evidence the Saints could cope without their star forward, who was last year’s All-Australian captain.

Despite Riewoldt missing the second half and Justin Koschitzke not playing because of suspension, the Saints kicked six goals and kept the Magpies goalless after the long break.

“It’s going to be a challenge, no doubt about it,” Lyon said of the task of replacing Riewoldt.

“Let’s look at the facts, he’s a key forward, he’s pretty special.

“It’s going to be a challenge but we proved we can cope. We had 19 shots, kicked 4.3 in the last [quarter] when the game was up for grabs.

“Koschitzke will be back soon and we’ve got (Rhys) Stanley and (Michael) Gardiner’s a pretty good forward.

“We’ve got to improvise, but everyone else has challenges. Obviously it’s a significant one, but we’re looking forward to coping with it.”

Japan Kan: explained govt fiscal policy to BOJ

(For more stories on the Japanese economy, click [ID:nECONJP])

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TOKYO, April 9 (Reuters) – Japanese Finance Minister Naoto Kan said on Friday that he explained the government’s fiscal policy in a meeting with the Bank of Japan’s governor and deputy governor the same day.

Kan, speaking to reporters after the meeting with Prime Minister Yukio Hatoyama, BOJ Governor Masaaki Shirakawa and BOJ Deputy Governor Hirohide Yamaguchi, said the government wanted to keep communicating with the central bank to end deflation and ensure an economic recovery. (Reporting by Tetsushi Kajimoto and Stanley White)

BOJ Gov: PM made no requests in chat on economy

TOKYO, April 9 (Reuters) – Bank of Japan Governor Masaaki Shirakawa said he and Prime Minister Yukio Hatoyama exchanged views on the economy and the financial situation on Friday.

“The prime minister asked questions about the economy and the financial situation, and I explained our views to him,” Shirakawa told reporters after the meeting, which lasted almost two hours.

Asked if Hatoyama made any requests during the meeting, Shirakawa said: “He didn’t make any requests.”

He said the two sides plan to hold such meetings every three months. (Reporting by Tetsushi Kajimoto and Stanley White)

Granite Belt produces new plum

A new type of plum that has been grown for added nutrition will soon make its way onto tables.

The Queensland Government and a private company will sell the Queen Garnet Plum and turn it into nutritional drinks.

The plum was developed at research stations on the Granite Belt and is high in anti-oxidants.

Dr Roger Stanley from the Department of Employment, Economic Development and Innovation says the plum will be exported all year round.

“As a processed fruit you can process it at peak condition and sell the extract for 12 months of the year and indeed export the extract so that it can be sold into the marketplace and advertising to promote the health properties,” he said.

Dubai World offer better than UAE fin min expected

ABU DHABI, March 28 (Reuters) – Dubai World’s [DBWLD.UL] debt restructuring offer surpassed expectations of the United Arab Emirates’ finance ministry and it will have a positive impact on banks, a senior ministry official said on Sunday.

Industrials

“The Dubai World offer is better than what we expected,” Younis al-Khouri, director general at the UAE finance ministry told reporters. “It will have a positive impact on banks.”

(Reporting by Stanley Carvalho)

Strategic dialogue between US-Pak should be all encompassing: Gilani

Islamabad, Mar.19 (ANI): Pakistan Prime Minister Yousuf Raza Gilani has said that the forthcoming strategic dialogue between Pakistan and the United States should cover the full spectrum of bilateral relations between the two countries.

Speaking during a meeting, which was called to chart out a comprehensive, coherent and well-coordinated strategy for the March 24 talks, Gilani said the dialogue must include all issues concerning both the nations.

During the high-level meeting Gilani directed officials to mutually develop a review mechanism to monitor the decisions taken during the strategic dialogue, The Daily Times reports.

The United States has also been making ground for the upcoming talks with several high-ranking officials making trips to Pakistan in the recent past.

Commander of the International Security Assistance Force (ISAF) in Afghanistan, General Stanley McChrystal called on Pakistan Army Chief General Ashfaq Parvez Kayani to brief him other officials on the ongoing operations in Afghanistan and the forthcoming strategic dialogue.

According to sources, the US State Department’s coordinator for counterterrorism, Daniel Benjamin, will soon be visiting Islamabad on a three-day visit to discuss matters concerning the ‘war on terror’ and the upcoming dialogue. (ANI)

Sleeping with partner could be bad for health and relationship

London, Sept 9 (ANI): The secret to a long, healthy and happy marriage might lie in having separate beds, claims a sleep expert.

A research has found that sharing a bed often led to poor quality sleep as people were regularly disturbed by their loved ones during the night.

Speaking at a special seminar on sleep at the British Science Festival, Dr Neil Stanley, a sleep expert at the Norfolk and Norwich University Hospital, said: “A normal double bed is 4ft 6inches wide. That means you have up to nine inches less per person in a double bed than a child has in a single bed.

“Add to this another person who kicks, punches, snores and gets up to go to the loo and is it any wonder that we are not getting a good night’s sleep?

“To save your marriage and your health you should have a discussion about your sleep.”

However, despite the detrimental effects of snoring, teeth grinding and tossing and turning, people tolerated it because culturally sleeping together is considered a sign of intimacy, reports The Telegraph.

Stanley, who follows his own advice and sleeps in a different room to his wife, said that double beds are just not conducive to a good night’s sleep.

He said the tradition of the marital bed began with the industrial revolution, when people moved into cities and found themselves short of living space. Before the Victorian era it was not uncommon for married couples to sleep apart.

“Intimacy is good for emotional health but good sleep is good for physical and mental health,” he said.

Stanley, who set up the Sleep Lab at the University of Surrey, said: “Sleep is a selfish thing to do. No one can share your sleep. If you know that your partner is next to you, then you are awake. If you are sleeping together and it is all right then carry on. If not then you should do something about it, not just tolerate it. Getting a good night’s sleep is as important as diet and exercise.”

The expert also suggested various ways through which couples could improve their sleep, if sleeping in separate beds was too much of a leap.

They included buying a bigger bed, having separate duvets and having darker curtains. (ANI)

Too early for Pakistan to declare victory in Swat: Holbrooke

Islamabad, June 29 (ANI): The US special envoy to Pakistan and Afghanistan, Richard Holbrooke, has said that it is too soon for Pakistan to declare victory in the Swat Valley, where the Army has purportedly put the Taliban insurgents on the back foot.

Holbrooke, attending a G8 conference on stabilizing Pakistan and Afghanistan in Italy, said in an interview that it was too early for Pakistan to announce victory in Swat.

“The true test is when the refugees go back to Swat. Will they have security? Will they be protected?” The Nation quoted Holbrooke, as saying.

“Will the Army be able to keep the Taliban from coming back down over the hills? And the bill for reconstruction in Swat is going to be enormous – over a billion dollars, maybe over 2 billion.

“We’re very gratified that the Army led the charge back into Swat and that they’ve driven the militants out of the Swat Valley. But we have a long way to go before we know the end of the story. So there is a lot left in this saga,” he added

Asked about whether he knew about the number of civilians killed in Swat during the ongoing offensive of the Pakistan Army against the Taliban, Holbrooke flatly replied “No.”

Responding to another question on whether there would be more casualties after the hike in US troops in Afghanistan, he said: “I don’t know if the increased troops will lead to increase casualties. It happens often, but I’m not going to concede that. We have a new commander, a brilliant new commander, Gen. (Stanley) McChrystal, and he is devising new strategies and tactics.”

“The Taliban are going to be put under pressure like they’ve never seen before. And coupled with our elimination of things like crop eradication so we don’t alienate the people, coupled with Gen McChrystal’s new rules over the use of airpower in an attempt to reduce civilian casualties, we may find that things go much better than expected.”

The 45 nations and multilateral organisations at the G8 conference issued a statement pledging to look at ways to boost humanitarian aid to Pakistan, where fighting has displaced nearly two million people. (ANI)

‘US to restrict use of air strikes in Afghanistan’

New York, June 22 (ANI): General Stanley A. McChrystal, the new American commander in Afghanistan, has said he would sharply restrict the use of airstrikes here, in an effort to reduce the civilian deaths, which were undermining the US-led mission.

In interviews over the past few days, General McChrystal said the use of air strikes during firefights would in most cases be allowed only to prevent American and other coalition troops from being overrun.

Even in the cases of active firefights with Taliban forces, he said, air strikes will be limited if the combat is taking place in populated areas, the very circumstances in which most Afghan civilian deaths have occurred.

The restrictions will be especially tight in attacking houses and compounds where insurgents are believed to have taken cover, The New York Times reports.

“Air power contains the seeds of our own destruction if we do not use it responsibly. We can lose this fight,” General McChrystal told a group of his senior officers during a videoconference last week.

“When we shoot into a compound, that should only be for the protection of our forces. I want everyone to understand that,” he said.

The statements by General McChrystal signaled the tightening of the rules for using air strikes, which, while considered indispensable for protecting troops, have killed hundreds of civilians.

In December, then American commander at the time, Gen. David D. McKiernan, issued guidelines ordering his soldiers to use force that was proportional to the provocation and that minimized the risk of civilian casualties. (ANI)

The tennis-loving falcon that shows off ballboy skills!

London, Jun 20 (ANI): A three-year-old falcon has showed off his talents on the tennis court by picking up stray tennis balls and returning them to its owner.

Stanley, a Striated Caracara falcon, first displayed his ballboy skills when his owner Trevor Hill, 43 was playing tennis with a pal a few weeks ago.

“Stanley was flying at my place near the court and managed to get over the wire fence,” the Sun quoted Hill as saying.

“I was about to fetch him when he scurried over with a ball in his mouth. Stanley brought it over obediently, just like the ballboys and girls at Wimbledon,” he added. (ANI)

Drunken oil dealer loses job for putting bank at risk of 10M dlrs

London, May 22 (ANI): An drunken oil dealer, who made a series of deals that put a bank at risk of 10 million dollars, has been struck off by the City regulator.

David Redmond, 28, a former Morgan Stanley trader, was banned by the Financial Services Authority for two years following the incident, reports the Daily Express.

In its judgment, the regulator said that Redmond had an “extended lunch break between 13.14 and 16.41,” and was under the influence of alcohol when he got back to the trading floor.

The trader then went on a trading spree, making deals on the oil futures market with an order on average every 7.5 seconds.

He then “panicked” and tried to hide the position through further deals using a colleague’s accounts.

He “traded out” of the deals the following day and made a profit, but Morgan Stanley later dismissed him.

Redmond was found “not to have acted out of personal gain”. ANI)