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News Desk
Economic Affairs Editor

News's Articles

Tech firms and their founders: Monarchs versus managers

THE epic struggle between two billionaires over the future of Dell has gone to another round. Michael Dell, the ailing computer-maker’s founder and biggest shareholder, has now been forced twice to postpone a vote on his proposal to buy out the firm and take it off the stockmarket, for fear that the deal’s critics, led by Carl Icahn, a veteran shareholder activist, may have enough support to scupper the plan.On July 24th, having stopped the ballot as it was about to take place, Mr Dell and Silver Lake, a private-equity firm that is backing him, said they would add $150m to their offer of $24.4 billion. But in return they want a special committee of Dell’s independent directors to change the rules of the vote, now schedu...

July 27, 2013 at 5:32 am | News Desk

TSMC: A fab success

Still going strong WHEN he founded Taiwan Semiconductor Manufacturing Company (TSMC) in 1987, Morris Chang recalls, “Nobody thought we were going anywhere.” Back then the rule was that semiconductor companies both designed and made chips. TSMC was the first pure “foundry”, making chips for designers with no factories, or “fabs”, of their own. The doubts of others suited TSMC nicely. Mr Chang, at 82 still chairman and in his second stint as chief executive, says that meant it suffered no competition in its first eight years.These days the idea is more popular. Last year foundries made about half of all logic chips (the ones that carry out computations, as opposed to memory chips, a more commoditised mar...

July 27, 2013 at 5:32 am | News Desk

New Barca coach tells Man Utd Fabregas not for sale

BARCELONA, Catalonia: Gerardo Martino, officially unveiled as Barcelona’s new manager on Friday, wasted no time in telling Manchester United that Cesc Fabregas was not for sale. On Thursday, United boss David Moyes revealed that the English champions’ attempts to sign the former Arsenal captain were “ongoing” after two reported bids, one of £30 million ($38 million) had been rejected. Martino, asked about Fabregas at a Nou Camp press conference, insisted: “If the club has signalled its refusal twice, then I signal it a third time – and so he (Fabregas) will be staying here.” Barca vice-president Josep Maria Bartolomeu confirmed: “We are not thinking of selling Cesc. “That United ...

July 27, 2013 at 5:32 am | News Desk

PML-N Ishaq Dar wished-for ‘Haleem’, ‘Pakoray’ with MQM Altaf Hussain

KARACHI: Remembering pleasant moments passed with Muttahida Qaumi Movement (MQM) chief Altaf Hussain, Pakistan Muslim League Nawaz (PML-N) prominent leader has expressed his wishes in an interesting manner by saying to have ‘Haleem’ and ‘Pakoray’ dishes together. PML-N delegation had went to MQM headquarter 90 ‘nine-zero’ situated in Azizabad area of Karachi city for gaining their ‘political’ confidence for its presidential candidate, Mamnoon Hussain, in upcoming election. PML-N belonged leader Ishaq Dar presented ‘unique’ desired while talking with MQM chief Altaf Hussain to refresh the memories by  having two traditional Pakistani dishes ‘Haleem’ and ‘P...

July 27, 2013 at 5:32 am | News Desk

Pakistani model Mathira wishes president Zardari happy birthday

ISLAMABAD: Pakistani model Mathira wishes the country’s president Asif Ali Zardari happy birthday. Mathira said “We remember Shahrukh Khan’s birthday, we remember Katrina Kaif’s birthday, but we never remember the birthday of the man who runs this country,” said Mathira. Expressing her fondness for President Zardari, she said “the man has a personality.” “I really like that guy I think he’s great. I wanted to do something special for him on his birthday and so I did.” The News Tribe – UK-based bilingual news website covering politics, technology, sports, health and lifestyle from US, Pakistan, Middle East and around the world Click here for more information The News Tr...

July 27, 2013 at 5:32 am | News Desk

MQM unconditional support for PML-N hurts PPP

KARACHI: Pakistan’s second largest mandate holder and opposition political party, Pakistan People’s Party (PPP), got detriment from its provincial ally Muttahida Qaumi Movement (MQM) when it announced ‘unconditional support’ for Pakistan Muslim League Nawaz (PML-N) presidential nominee on Friday. MQM officially announced its “unconditional support” for ruling party PML-N candidate Mamnoon Hussain in the upcoming presidential elections instead of boycotting like its opposition allies Pakistan People Party, Awami National Party (ANP) and Pakistan Muslim League Quaid (ANP). PPP has not showed any reaction after MQM’s announcement but its opposition partner MQM gave them shock on which they were rely...

July 27, 2013 at 5:32 am | News Desk

Ohio kidnapper pleads guilty, accepts will die in jail

CHICAGO, Illinois: An American man who kidnapped three women and held them for a decade as sex slaves agreed Friday to serve life in prison in a deal that allows him to escape the death penalty. Ariel Castro, a 53-year-old Ohio bus driver, told a court in Cleveland that he had agreed to serve a life sentence plus 1,000 years for a string of violent and sexual offenses. The deal allows him to escape execution, which he could have faced if he had later been convicted at trial of the murder of an unborn fetus carried by one of his victims. “Because of the plea deal, I will plead guilty,” he said, as Judge Michael Russo read the first count — one of aggravated murder — on the lengthy charge sheet. He went on to plead g...

July 27, 2013 at 5:32 am | News Desk

Shahbaz Sharif announces financial assistance for position holder student of Kasur

LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif has announced financial assistance for meeting the educational expenditure of a student Haroon of Kasur who has achieved prominent position in matriculation examination. According to TheNewsTribe’s correspondent from Punjab capital city Lahore, Haroon is the son of a local plumber. The Chief Minister said that the students like Haroon are a precious asset of the nation who despite financial problems achieved prominent position in examinations through their hard work and determination. “All problems can be overcome with courage and steadfastness.” Shahbaz Sharif said that Punjab government is implementing a comprehensive programme for the encouragement of talented...

July 27, 2013 at 1:50 am | News Desk

‘Same gun used’ in Tunisia political killings

TUNIS: Protests and a general strike swept Tunisia Friday after gunmen killed an opposition head with the same gun used to kill a colleague, a minister said, as under-fire authorities pointed to Al-Qaeda links. Mohamed Brahmi was gunned down with the same weapon used to kill another opposition politician, Chokri Belaid, six months earlier, Interior Minister Lotfi Ben Jeddou said. He said the main suspect in Brahmi’s killing was a member of the radical Sunni Muslim Salafist movement linked to Al-Qaeda. “The first elements of the investigation show the implication of Boubaker Hakim, a Salafist extremist,” he said a day after Brahmi was gunned down outside his home near Tunis by two gunmen on a motorcycle. The 30-year-old P...

July 27, 2013 at 1:50 am | News Desk

Police hold Spain train crash driver for ‘recklessness’

SANTIAGO DE COMPOSTELA, Spain: Spanish police said Friday they have detained the driver of a speeding train that crashed in the nation’s deadliest rail disaster in decades, accusing him of criminal recklessness. The country was in mourning over Wednesday’s horrific tragedy, which police said had killed 78 people including foreigners and left many more injured. The 52-year-old driver faces criminal accusations including “recklessness” over the crash near the pilgrimage city of Santiago de Compostela, said Jaime Iglesias, police chief in the northwestern Galicia region. The grey-haired driver, who reportedly boasted of his love for speed online, was detained Thursday in hospital where he had been under police surveil...

July 27, 2013 at 1:50 am | News Desk

18th U.S.-China Dialogue: Washington will discuss Human Rights issue with Beijing

WASHINGTON: United States and China will discuss Human Rights during the next session will be held in Kunming, China. (more…)

July 27, 2013 at 1:50 am | News Desk

“Measures on war footing for resolving energy crisis”

ISLAMABAD: Punjab Chief Minister Muhammad Shahbaz Sharif has said that government is taking measures on war footing for resolving energy crisis and the promise to remove shortage of electricity will be fulfilled at any cost. (more…)

July 27, 2013 at 1:50 am | News Desk

The End: Barnes & Noble in Silicon Valley

Barnes & Noble tried to transform the book business for the digital age. Too bad it forgot about the books Click here for more information Businessweek.com -- Most Popular

July 26, 2013 at 3:27 am | News Desk

New Chevy Impala Is Nearly as Good as a Tesla, Consumer Reports Says

It's the first time in two decades that an American brand has topped rivals from Europe and Japan Click here for more information Businessweek.com -- Most Popular

July 26, 2013 at 3:27 am | News Desk

Homeland Security's Future Home: A Former Mental Hospital

The Department of Homeland Security struggles to build its headquarters, in what may be the craziest Washington project of them all Click here for more information Businessweek.com -- Most Popular

July 26, 2013 at 3:27 am | News Desk

Eleven Pakistani teachers to attend UNT-NUML fellowship program at University of North Texas

ISLAMABAD: A group of 11 selected faculty members of National University of Modern Languages (NUML) will soon be leaving for University of North Texas (UNT) to attend a 40-day long UNT-NUML Research Fellowship program at UNT, America. It was announced during a ceremony where the four (4) male and seven (7) female faculty members of English Studies Department of NUML were handed over the tickets and health insurance cards by the Rector Maj Gen (R) Masood Hasan. Rector NUML Maj Gen (R) Maood Hasan along with DG Brig Azam Jamal and Prog Dr Masood Ashraf Raja is giving away the tickets to scholars to attend Research Fellowship at UNT Introducing about the program, Registrar (also the Project Director of NUML-UNT Partnership program from NUM...

July 26, 2013 at 2:00 am | News Desk

Pope tours Rio slum before meeting young Catholics

RIO DE JANEIRO: Pope Francis toured a Rio shantytown Thursday after receiving the keys to the city and blessing the Olympic flag, before meeting with throngs of young Catholics on Copacabana beach. Under pelting rain, the pontiff arrived aboard his white jeep at the Varginha favela, a community of 1,000 people which for decades was under the sway of narco-traffickers until it came under police control less than a year ago. Earlier, the Argentine-born pontiff, who is on a week-long visit to Brazil, received the keys to the city at a city hall ceremony attended by Mayor Eduardo Paes and state governor Sergio Cabral. The pontiff blessed hundreds of well-wishers, including many children, gathered in the city hall gardens. “Good morning ...

July 26, 2013 at 2:00 am | News Desk

Dream of reunification fades in S. Korea

SEOUL: Sixty years after the end of a war which killed millions and sealed the Korean peninsula’s division into communist North and capitalist South, the dream of reunification is fading in South Korea. After more than a thousand years as a united nation, the separate Koreas came into being in 1948 but went to war two years later when the North invaded. They have remained technically at war since the conflict ended on July 27, 1953, with an armistice but no peace treaty. Officially, at least, reunification remains the holy grail for both Seoul and Pyongyang. But sentiment in the prosperous South has continued to sour in recent years, as more people tire of regular threats from their impoverished neighbour and fret about the potentia...

July 26, 2013 at 2:00 am | News Desk

Ramadan rating? Geo TV’s Aamir Liaquat Hussain giving away babies in his prime-time show

ISLAMABAD: In a battle of television rating during Ramadan, Pakistan prominent television Geo giving away abandoned babies to childless couples during its prime-time show. (more…)

July 26, 2013 at 2:00 am | News Desk

Spain’s pilgrim city prays for train crash victims

SANTIAGO DE COMPOSTELA, Spain: Under the towering stone arches in the Cathedral of Santiago de Compostela, hundreds of worshippers held a mournful mass on Thursday for the 78 people killed in the worst train crash of Spain’s recent history. Facing the high gold altar, they prayed to Saint James — the apostle who gives his name to the cathedral and the city — for those killed and the more than 140 injured in Wednesday evening’s devastating crash on the town’s outskirts. “Saint James, we ask you to keep protecting us always,” said one of the celebrants, before clerics in black and red robes and public officials in suits filed out grim-faced to sombre strains from the organ. The veneration of Saint J...

July 26, 2013 at 2:00 am | News Desk