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Monday, 08 February 2016

 

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U.N. Security Council slams North Korea's missile launch -
UNITED NATIONS, Feb. 7 (APP): The U.N. Security Council Sunday strongly condemned North Korea's missile launch and vowed to "expeditiously" adopt a new resolution with "significant" new sanctions against Pyongyang. In a statement issued statement after an emergency meeting on Sunday, the 15-member Council underscored that launches using ballistic missile technology, "even if characterized as a satellite launch or space launch vehicle" contribute to North Korea's development of systems to deliver nuclear weapons.



Highly radioactive leak found at NY nuclear plant -
NEW YORK, Feb 7 (APP): New York State Governor Andrew Cuomo has called for an investigation after an apparent overflow at a nuclear power plant spilled highly radioactive water into an underground monitoring well, but nuclear regulators said the public was not at risk. Officials at the Indian Point Energy Center in Buchanan, New York,  reported that water contaminated by tritium leaked into the groundwater under the facility.



Highly radioactive leak found at N.Y. nuclear plant -
NEW YORK, Feb. 7 (APP): New York State Governor Andrew Cuomo has called for an investigation after an apparent overflow at a nuclear power plant spilled highly radioactive water into an underground monitoring well, but nuclear regulators said the public is not at risk. Officials at the Indian Point Energy Center in Buchanan, New York, reported that water contaminated by tritium leaked into the groundwater under the facility.


UNSC to hold emergency meeting on North Korea missile launch -
UNITED NATIONS, Feb 7 (APP): The United Nations Security Council has scheduled an emergency meeting on Sunday to discuss the North Korean missile launch, as UN Secretary-General Ban Ki-moon called on Pyongyang to  halt its "provocative actions and return to compliance with its international obligations. Following a request by United States, Japan and South Korea, the 15-nation Council  will hold closed-door consultations on Sunday, the U.N. press office said.



Migration, multilateralism will be hallmarks of 2016: UN official -
UNITED NATIONS, Feb 6 (APP): The top United Nations migration official has called for deceive multilateral action to tackle "the global issues lurking behind today's vast movement of people" fleeing war, instability or persecution. The UN Special Representative of the Secretary-General for International Migration, Peter Sutherland, said in Geneva Friday that 2016 "is the year of migration and multilateralism," and that series of comprehensive initiatives was needed to drive home - and effectively address - the global nature of the issue.



Sport News
Lianna grabs another medal
ISLAMABAD, Feb 7 (APP): Lianna Swan won another medal for Pakistan in swimming in the South Asian Games at India. Lianna won a silver medal in 100m Breaststroke, says a press release issued here.

 
Naveed bags bronze in swimming
ISLAMABAD, Feb 7 (APP): Naveed Hussain won a bronze medal for Pakistan in swimming during the South Asian Games in India. Naveed won the bronze medal in 200 m Backstroke with time of 2.19:57, says a press release issued here.

 
ICC bans Yasir Shah till March 27 over anti-doping code violation
ISLAMABAD, Feb 7 (APP): The International Cricket Council (ICC) Sunday banned Pakistani leg-spinner Yasir Shah from playing all types of cricket for a tenure of three months, accepting cricketer's stance in anti-doping code violation case. Following the announcement, Yasir Shah, who was banned from playing cricket on December 27, 2015; will be able to play cricket from March 28, 2016, a private news channel reported on Sunday.

 
Pakistan victorious in squash quarterfinals
ISLAMABAD, Feb 6 (APP): Pakistan earned victories in squash quarter finals of the South Asian Games (Men & Women) played at Guwahati, India. In the Men Event (Individual) Farah Zaman (Pakistan) beat Ravindu H Laksiri (Sri Lanka) 11/8, 16/14, 11/9. Nasir Iqbal (Pakistan) beat Arhant Keshar Simha (Nepal) 11/4, 12/10, 11/0.
 
Irfan, Bacha to face Nouman, Taimur in Men Badminton doubles final
PESHAWAR, Feb 6 (APP): Irfan and Bacha Khan of Tarnab village will face Nouman and Taimur Khan of Palosia village in the final of the Peshawar District Inter-Club Men Badminton Championship played here at local Hujra at Landi Arbab, a suburban village of Peshawar, on Saturday. In the first semi-final Nouman and Taimur Khan defeated Sajid and Sana Ullah of Tehkal Payan by 3-1, the score was 21-18, 21-19, 21-16 and 21-19 while in the second semi-final Irfan and Bach outclassed Tahir and Arif of Landi Arbab village by 3-0, the score was 21-19, 21-15 and 21-19.
 
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UK-based Pak bank launches Islamic deposits scheme PDF Print E-mail
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LONDON, Feb 02 (APP)-A UK-based Pakistani bank has launched its Islamic deposit products to cater to the needs of both the business community as well as individuals interested in conducting their economic activities in accordance with the tenets of Islamic Shariah.United National Bank which was created in 2002 and is now a joint venture of United Bank Limited, a major share holder with 55 per cent, and National Bank of Pakistan which has 45 per cent stake.

The management is under the control of United Bank Limited now owned by the UK’s richest British-Pakistani businessman Sir Anwar Pervez who also has other extensive business interests in Pakistan.

These deposit products are 90 Days Notice Deposit account and Fixed Term deposits for six months and one year and are based on Mudaraba structure, a permitted Sharia mode.

Speaking on the occasion, UNB CEO Mansoor Khan said London has emerged as a global hub for Islamic Finance and a huge market potential exists in the UK market for Islamic products.

He further said the bank is focussing on the South Asian Muslim community and have set them as their initial target market for these products.

“Predominantly over a one million people are clustered across the UK and the philosophy behind launching their products is a belief that savings play a vital role in managing future needs.”

“The people generally try to save a portion of their income with a view to protecting themselves from future financial hardship and also to enhance their earnings for their benefit and the benefit of their family,” said Mr.Khan.

Explaining further, he noted most of the Muslim community does not believe in accepting interest (ribah) as it is prohibited in Islam and therefore tend to keep their savings in current accounts or in the shape of cash at home or in their lockers.

He said the UNB Islamic deposit products will provide them an opportunity to invest their surplus funds in the new scheme to protect their capital and earn purely “halal” profit with no fear of interest.

Setting out future strategy of the bank, Mr.Khan said this will be based on introducing new technology such as debit cards and internet banking. “We intend to bring in the new technology across all our British branches by the end of this current year.”

The CEO said though UNB is not competing with other major UK high street banks, yet it knows its target market and hope to do well in selling the new products.

The bank has branches in London, Birmingham, Bradford, Glasgow and Manchester. He spoke of the hugely successful remittance scheme launched by the bank which deliver free, secure next day cash payment in Pakistan at over 700 UBL branches.

Atif Bukhari, President, UBL, and Board Director, UNB, who flew in especially from Karachi for the launching of the Islamic deposit product, told the media that UNB was already offering Ijara Mortgages to its customers and has booked a sizeable portfolio.

UNB, he added, has taken the lead to offer a complete Shariah compliant solution where the customers will have peace of mind that their money has been invested in a sound product and they are sharing profit not interest.

The marketing head of the bank Mir Muhammad Akhlaq said the Islamic products are also very attractive to the general public by virtue of their product features and benefits.

Ehsan Mani, a bank Director and Aamir Karachiwala, Chief Controller, also spoke on the occasion, and said the deposits generated through these products will be utilised in the bank’s existing Ijara mortgage product.

 
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