Asian Stocks Rally Over Optimism About Europe

Asia-Pacific stock markets rallied Thursday, echoing the company's performance on Wall Street, investors took heart from a few U.S. data strong economic and hope that European policy makers to increase their efforts to strengthen the continent's debt problems.

Global markets are gyrating for several months now and no sign that European debt issues will be resolved in the near future, they are likely to remain volatile for the foreseeable future. The weak U.S. economy and the expansion in the engines of moderate growth, like China and India have also exacerbated the global nervousness.

Greek civil servants on 24-hour strike

Greek officials have walked away from work 24-hour strike, paralyzing the public sector in protest of the deepest savings the government is fighting to prevent a disastrous default.

Air traffic controllers joined the strike on Wednesday, grounding all flights at Greek airports.

Public hospitals operate with emergency staff, while lawyers, teachers and tax officials are also striking. Public transport workers hold work stoppages in the morning and evening, and events are planned later in the day.

Loadshedding-hit Punjab continues to simmer

The riots in the city of Gujranwala Monday after the second day, demonstrators set fire to two shops and looted many other shopping centers on the GT Road. Tear gas shelling, air strikes and lifting the stick left hundreds of people retiring with less damage.

District Bar Association office-bearers took out a rally and staged a demonstration at Chowk Gondlanwala after the boycott of the courts. Other protesters joined them and many stores bombarded with stones and set fire to two of them.

The protesters tried to storm the Gujranwala Electric Power Company (Gepco) headquarters, but police and security guards to empty their companies.

Senate bill punishes China over undervalued money

The Senate is advancing legislation to punish China for undervaluing its currency and taking away American jobs. At issue is whether the measure would boost the American economy or initiate a damaging trade war with a major trading partner.

The legislation has bipartisan backing and on Monday evening is expected to garner the 60 votes needed to move it to the Senate floor. But the bill faces considerable hurdles. The Obama White House is leery of taking bilateral action against China, and House Republican leaders have shown no interest in bringing it to a vote.

Supporters of the bill say the value of the yuan is as much as 40 percent below what it should be, keeping the prices of Chinese goods artificially low and U.S. products excessively high.

Thar Col Investment

Sino-Sindh Resources, a local subsidiary of Global Mining Company is investing in Thar Coal Block-1 for coal mining and power generation of 900 Mega Watt (MW). Chairman Board of Investment (BoI) Saleem H. Mandviwala informed after  a meeting with a six member delegation of Global Mining Company led by Liyuang Liu here on Tuesday.
 

The Chairman BOI informed that Global Mining Company had also signed  an MoU with government of Sindh for the project and the company plans to invest US $ 4.5 billion till 2016.