Shaheed Lt Yasir was only brother to 3 sisters

LAHORE: Lt Yasir Abbas who embraced Shahadat during a militants attack on PNS Mehran in Karachi belonged to a Lahore based family with military background, which is proud of him for his taking bullets on his chest like a man for the sake of the country.

Lt. Yasir Abbas was born in 1987 at his father Col. (Retd.) Jaffar Abbas’s home. The Shaheed, whose grand father had also retired as a Colonel, was the only brother of three sisters.

Lt. Yasir Abbas had met with his family eight months back on the occasion of Eid.

On Sunday night he was speaking to his mother on the phone when he heard a blast and took permission from her mother to leave and was first to lead in the fight against militants.

During the gun-battle Lt. Yasir Abbas braved three bullets on his chest.

The Shaheed was all set to get settled in the next few months.

His family members said that they believed the blood of Lt. Yasir will not go in waste and the country would soon get rid of the scourge of terrorism.

Euro sinks on new Greek debt worries

LONDON: The euro fell heavily on Monday, striking a two-month low against the dollar, as Greek debt worries resurfaced with a bang and as data pointed to slowing economic growth across the eurozone.

The European single currency tumbled to $1.3982 in London trading from $1.4155 late in New York on Friday. Monday's level was the lowest since March 18.

Against the Japanese currency, the dollar dropped to 81.52 yen from 81.70 yen on Friday.

"The Eurozone debt and banking crisis continues to deteriorate with recent newsflow highlighting credit rating downgrades and differences of opinion amongst EU policymakers over the contentious issue of Greek debt restructuring," said Neil MacKinnon, an analyst at VTB Capital.

Ahead of the weekend, ratings company Fitch slashed Greece's rating by three notches to B+, citing its growing problems in getting its public finances in order.

European partners are pushing the government in Athens to press the button on 50 billion euros of public asset sales in exchange for lessening the burden on the existing bailout.

Meanwhile rising concerns emerged on Monday over the state of European economic recovery -- with key indicators slowing sharply, and eurozone stragglers behind Germany and France showing signs of stagnation.

London-based research giant Markit's composite eurozone index for manufacturing and services output suggested eurozone growth slowed to a seven-month low in May.

Its index fell from 57.8 in April to 55.4 this month. Any score above 50 indicates growth, and May marked the 22 successive months of economic expansion. But the deceleration in the rate of growth was also the largest since November 2008, Markit said.

"It is not clear the extent to which this reflects temporary factors such as the timing of Easter and disruptions to supply chains emanating from the earthquake in Japan," said Chris Williamson, Markit chief economist, a view backed by external economists.

"But a deterioration in business confidence in the service sector to the weakest since July 2009 suggests that a more fundamental slowing in the pace of economic growth is occurring."

In London on Monday, the euro changed hands at $1.3982 against $1.4155 late in New York on Friday, at 114.06 yen (115.66), #0.8682 (0.8715) and 1.2336 Swiss francs (1.2421).

The dollar stood at 81.52 yen (81.70) and 0.8834 Swiss francs (0.8772).

The pound was at $1.6115 (1.6236).

On the London Bullion Market, gold prices grew to $1,510.43 an ounce from $1,491 late on Friday.

Euro sinks further on Greek sovereign debt woes

TOKYO: The euro fell against other major currencies in Asia on Monday, weighed down by rekindled worries about eurozone sovereign debt after Greece's credit rating was slashed, dealers said.

The euro fell to $1.4083 in Tokyo morning trading from 1.4155 in New York late Friday. The single European currency fetched 115.50 yen, down from 115.66.

The dollar rose to 81.99 yen from 81.70 yen.

The euro "may face continued selling pressure today, following last week's trend, against the backdrop of sovereign risks," Junichi Ishikawa, FX analyst at IG Markets Securities in Japan, told Dow Jones Newswires.

The euro dropped to an all-time low of 1.2348 Swiss francs in early trade before pulling back to 1.2367, against 1.2417 late Friday.

The European currency dived after Fitch Ratings on Friday slashed Greece's credit rating by three notches to B+, citing its growing problems in getting its public finances in order.

There has been much speculation that Greece might have to restructure or reschedule its debt, a move that some fear could plunge the eurozone back into the kind of turmoil it suffered during the financial crisis of 2008.

Fitch said the move reflected the "scale of the challenge facing Greece in implementing a radical fiscal and structural reform programme necessary to secure solvency of the state and the foundations for sustained economic recovery."

However, it expects substantial new money will be provided to Greece by the EU and IMF, and therefore "Greek sovereign bonds will not be subject to a 'soft restructuring' or 're-profiling' that would trigger a 'credit event' and default rating," it said.

Standard & Poor's downgrade on Friday of its outlook for Italy from "stable" to "negative" dealt another blow to the beleaguered euro.

The downgrade came amid concerns that the fragility of the government's centre-right coalition would hamper attempts to slash the country's vast debt.

Safety experts warned ash from an erupting Icelandic volcano that closed the country's airspace may blow across large swathes of western Europe, raising fears of new flight chaos.

But experts said the impact should not be as far-reaching as 2010, when a similar event caused widespread flight cancellations.

Molki Salamati per ghor kai liyay kabena ki difai kameti ka ijlaas

Four of 6 militants killed in Naval operation: Rehman

Karachi Four of the six militants who were involved in the armed raid on Pakistan’s Naval air base have been eliminated in the retaliatory operation by the security forces while two managed to escape, Interior Minister Rehman Malik said here Monday.

He put the number of martyred armed forces personnel at 10 and the injured at 15.

Talking to media men here at Chief Minister House after his visit to the PNS Mehran, the Interior Minister said the martyred troops would be awarded Sitara-e-Shujaat posthumously.

Laced with sophisticated weapons, six-seven militants, aged between 20 and 25 years, made their way into the PNS Mehran by climbing over the boundary wall and targeted P-3C Orion aircraft, the Minister said giving details of the attack.

Geo News Report on Death of Osama Bin Laden geo video

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 KARACHI: Tehrik-e-Taliban Pakistan (TTP) has denied the reports that Osama Bin Laden was killed, Geo News reported.

50 Minutes - 4th March 2011 - Sixer Of Peace!

50 Minutes - 4th March 2011 - Sixer Of Peace!

Aaj Kamran Khan Ke Sath - 4th March 2011
Aaj Kamran Khan Ke Sath - 4th March 2011 - Once again, MQM forced Government To Reduce Petroleum Prices