Tag Archives: disappointment

Canadian dollar falls after highest job losses since recession 4 years ago

Canadian Dollar Tumbles After Unexpected March Employment Loss

By Ari Altstedter

The Canadian dollar fell in its biggest decline in nine months against its U.S. peer after the nation unexpectedly lost jobs last month by the most since the last recession four years ago.

The currency declined against 13 of its 16 major peers as Canada had 54,500 fewer jobs in March, compared with the 6,500 gain predicted in the median estimate of a Bloomberg survey of 24 economists. The nation’s jobless rate increased to 7.2 percent from 7 percent. The U.S. added 88,000 jobs in March, versus estimates of a 190,000 gain. The Bank of Canada’s March 6 policy statement called for the economy to “pick up through 2013” on its way to 2 percent annual growth.

“Huge miss on both numbers, but particularly the Canadian number after many months of surprisingly strong employment data, we’ve finally seen some give back, so pretty swift reaction for the Canadian dollar,” said Blake Jespersen, managing director of foreign exchange at Bank of Montreal, by phone from Toronto. “There’s a lot more room for this to run, I think this is just the beginning of what could be a series of weaker employment numbers in Canada.”

The loonie, as the Canadian dollar is known for the image of the C$1 coin, fell 0.5 percent to C$1.0176 at 5 p.m. in Toronto. Earlier, it fell 1.1 percent to C$1.0236 per U.S. dollar, the largest drop since June 28. One loonie buys 98.27 U.S. cents.

Bonds Gain

Canada’s benchmark 10-year government bonds rose, with yields falling four basis points or 0.04 percentage point to 1.75 percent, touching the lowest level since Dec. 11. The 1.5 percent security maturing in June 2023 rose 36 cents to C$97.68.

Crude oil, the country’s biggest export, fell 0.3 percent to $93.02 per barrel in New York, after touching its lowest point since March 7. The Standard & Poor’s 500 Index of U.S. stocks fell 0.4 percent.

Canada’s jobs figures brings the labor market more in line with other parts of the economy, where output growth slowed to a 0.6 percent annualized pace in the fourth quarter and inflation has lagged the central bank’s 2 percent target since May. Last month’s figures mean Canada posted a net loss of 25,700 jobs in the first three months of the year.

’Ugly Across’

“It was ugly across the board, there wasn’t one redeeming feature for the Canadian employment report,” said Mark Frey, chief market strategist at Cambridge Mercantile Group, a corporate currency broker, by phone from Victoria British Columbia. “When you look at the overall employment figures for Q1 in Canada, you’re seeing a pretty bleak outlook that has turned almost on a dime from the last five months of 2012.”

A separate report showed Canada recorded its 11th straight merchandise trade deficit in February, the longest streak in at least 25 years, with the shortfall unexpectedly widening as exports of metals declined.

The deficit of C$1.02 billion ($1 billion) followed a January figure that was revised to C$746 million from C$237 million, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg forecast the string would end with a C$100 million surplus, based on the median of 21 forecasts.

“Obviously disappointment on both sides of the border,” said David Tulk, chief macro strategist at Toronto-Dominion Bank (TD)’s TD Securities unit by phone from Toronto. “The labor market is sort of catching up to the wider economic backdrop that we’ve always argued is still quite subdued, so this helps a little bit.” ….

Read more » Bloomberg
http://www.bloomberg.com/news/2013-04-05/canadian-dollar-extends-loss-after-unexpected-march-jobs-decline.html

PPP’s Oct 15 Hyderabad Public Gathering yet another big Disappointment

By: Dr. Azhar A. Shah

PPP’s Oct 15, 2012 Hyderabad Public Gathering was yet another big disappointment indeed. None of the speakers’ could dare to justify the controversial & infamous SPLG Act 2012 and to refute the criticism logically. All they did was unethical character assassination of the nationalist leaders! They conveyed the message that PPP is not in a position to have dialogue on the SPLGA but it is ready for len den (political bribe)!

The feudal lords of PPP gathered their peasants and workers only to tell them that they had nothing to say about SPLGA 2012. Even the minister for Local Government and the Sindh Chief Minister didn’t bother to justify how SPLGA and its various provisions would be beneficial for the people of Sindh and how the criticism of nationalist leaders was invalid! They couldn’t cite any working examples of the newly passed controversial law anywhere in the world.

Having listened to all the speeches of PPP leaders one could easily conclude that they are no more eligible to be called people’s representatives. One of the PPP leader publicly says that he has firm belief that ‘aik zardari sab pe bhari(one zardari more than all). When this is the norm that one person is more than all then what do we expect about democracy! He indeed publicly confessed that it is Mr. Zardari who engages in all this game and he and other members of PPP have no role what so ever!

The take home message of PPPs public gathering for the people of Sindh was to go and get ready for revolution; we have nothing to offer you; elect your proper alternatives who could Save Sindh. That’s a good message indeed!

Courtesy: Sindhi e-lists/ e-groups, 16 Oct. 2012

Draconian & Apartheid LG ordinance backlash: Sindhi poet to return his Tamgha-e-Imtiaz in protest

LG ordinance backlash: Sindhi poet to return his Tamgha-e-Imtiaz in protest

By Sarfaraz Memon

SUKKUR: Poet, writer and research scholar Dr Dur Mohammad Pathan, expressing his disappointment over the ruling Pakistan Peoples Party (PPP) performance, announced on Sunday that he will return his Presidential Tamgha-e-Imtiaz.

Talking to the media, he blamed the PPP and Muttahida Qaumi Movement (MQM) for ‘trying to harm the integrity and solidarity of Sindh’, which he said could not be tolerated. He was referring to the controversial local government ordinance. Pathan added that despite opposition from all over Sindh, PPP not only encouraged the Sindh governor to promulgate the ‘black ordinance’, but passed it in a record half hour.

Continue reading Draconian & Apartheid LG ordinance backlash: Sindhi poet to return his Tamgha-e-Imtiaz in protest

Is this Justice???

Pakistan Peoples Party Washington DC condemns the decision made by Supreme Court against elected prime minister of Pakistan Syed Yousaf Raza Gillani.

In their statement PPP said that PM was just following the constitution of Pakistan.

It also noted with disappointment that while no dictator had been punished for suspension and abrogation of the Constitution a democratically and terorist like Malik Ishaq had been granted bail but an elected Prime Minister had been sentenced for upholding the Constitution. They also criticize media’s role in being a cheer leader of right-wing, Islamist politicians and populist judges is an unfortunate departure from its often stated role of being a “fair and balanced” presenter of the news and of informing the public.

PPP demands Supreme Court to invest time in issues which are concern to Pakistan and its people such as Younas Habib case instead of becoming a tool to destabilize democracy in country.

The participants of meeting said that Mr. Nawaz Shrif must remember his past actions before suggesting PM to resign as it is not PPP who attacked Supreme Court but was Mr. Shrif and his party members. The participants also noted that it is about time for Sharif brothers to support democracy in Pakistan as federation and stop beating provincial band.

The meeting of the PPPUSA congratulated the Prime Minister over his stance in defending the Constitution.

Meeting was attended by:

Senator Mohammad Akbar Khawja, Ali Nawaz Memon, Sr.Vice President PPP USA, Syed Iftikhar Zaidi, Sr.Vice President PPP USA, Masood Zakria Ch., Additional Sec Gen PPP USA, Dr. Javed Manzoor President PPP USA, Jawad Shirazi, Sr.,Vice President PPP Washington DC, Mansoor Qureshi, Sec. General PPP Washington DC, Munirullah Butt, Syed Imran Zaidi, Sec. Information PPP Washington DC, Junaid M Choudhary, Ali Awan, Junaid Chudhry, Haider Asghar, Jaffer Shah, Nawazish Shah

Judiciary stressing its suzerainty: Kamran Shafi

By Adnan Farooq

I am sorely disappointed both with Nawaz Sharif himself going to court, and by the walk-out of the party from the National Assembly during the democracy vote on the 16th January’, says Kamran Shafi.

Pakistan’s leading columnist and a public debater frequently appearing at TV talk shows, Kamran Shafi, writes a regular column for the Express Tribune. He is a known critic of Pakistan military’s unconstitutional actions. In an interview with Viewpoint, he throws light on current political scenario in Pakistan. Read on:

What the present stand-off would lead to?

Hopefully to the realisation by all that it is best to stay within the confines of the Constitution as prescribed for all institutions.

What do you say about the role of judiciary. It was expected that the Advocates Movement would deliver the end of ‘Doctrine of Necessity’. But it seems, judiciary is once again ready to serve the Khaki interests?

I think judiciary is not serving ‘khaki interests’, only stressing it’s suzerainty over every other institution which can prove to be extremely dangerous.

Continue reading Judiciary stressing its suzerainty: Kamran Shafi

Salivating for a coup..

By Omar Ali

Its always hazardous to comment on “proximate politics” and the threat of a coup has not yet disappeared in Pakistan, but it does seem to have receded a bit, even if the story is by no means over and the struggle continues. Still, the fact that it has not yet happened is a huge disappointment for some media persons (Kamran Khan comes to mind) who were all dressed up and ready for a coup a few days ago and now look visibly depressed (though still hoping that the paknationalist judiciary will deliver what the paknationalist army did not) and for sections of the middle class. And behind these disappointees there is another section of even more seriously heart-broken people: the young scions of Pakistan’s inbred military-bureaucratic elite, who were already imagining themselves taking over PIA or Pakistan Railways to “reform” the institution and fix the mess created by “corrupt politicians”. I feel their pain..

For background, a quick review; pressure for a coup in Pakistan comes from several sources, including:

Continue reading Salivating for a coup..

China is not eager to jump in Afpak conflict

– Analysis: China to keep Pakistan embrace at arm’s length

By Sui-Lee Wee

BEIJING: (Reuters) – Pakistan, facing a crisis with the United States, has leaned closely to longtime partner China, offering its “all-weather friendship” with Beijing as an alternative to Washington.

But Pakistan will be disappointed if it hopes to replace American patronage with the same from China.

While China does not welcome the U.S. presence near its border, it wants stability on its western flank and believes an abrupt withdrawal of Washington’s support for Pakistan could imperil that. It also does not want to upset warming relations with India by getting mired in subcontinent security tension.

Maintaining that delicate balance, China will continue supporting economic cooperation with Pakistan but go slow on defense cooperation. While outwardly all smiles and warm pledges of friendship, China will quietly keep things at arms length.

“I think they see what’s going on in the U.S.-Pakistan front at the moment as reason to tread very carefully,” said Andrew Small, a researcher at the German Marshall Fund think-tank in Brussels who studies China-Pakistan ties and often visits both countries.

“They are taking extra care to make sure that what’s going on in the relationship is correctly understood, not reflecting any willingness to rush in or fill the gap or exploit differences.”

Pakistan’s brittle relationship with the United States, its major donor, has turned openly rancorous. Washington accused Pakistan’s powerful ISI spy agency of directly backing the Afghan Taliban-allied Haqqani network and of providing support for a September 13 attack on the U.S. mission in Kabul. ….

Read more → Reuters

Mukhtar Mai Case – Women, rights bodies shocked by Pakistan Supreme Court verdict

Women, rights bodies shocked by SC verdict

NEW YORK/ISLAMABAD/KARACHI: The New York-based Human Rights Watch (HRW) and Pakistan`s National Commission on the Status of Women (NCSW), Insani Huqooq Ittehad (IHI) comprising 10 NGOs and other women and human rights organisation have expressed “deep shock” and “disappointment” at the Supreme Court verdict acquitting the accused who had raped Mukhtar Mai about nine years ago.

“This is a setback for Mukhtar Mai, the broader struggle to end violence against women and the cause of an independent rights-respecting judiciary in Pakistan,” the HRW said in a statement and urged the government to ensure her safety. …

Read more : DAWN

Pakistan: Wide spread disappointment with performance of the new government

by Ali Nawaz Memon

There is a wide spread disappointment with performance of the new government. Yes, people of Sindh and all of Pakistan are suffering and there is a need to do more to achieve their political rights. AS A WORKER OF PPP, I PREFER TO WORK FOR BETTERMENT OF PEOPLE THROUGH REFORM IN PPP. THERE ARE MANY OF US WHO ARE CONTINUALLY DRAWING ATTENTION OF ZARDARI SAHEB AND OTHER LEADERS. WE CONTINUE TO URGE THEM TO REMEMBER PPP MANIFESTO AND PROMISES TO PEOPLE. I URGE ALL OF YOU TO RAISE VOICE FOR REFORM WITHIN PPP. WHENEVER YOU HAVE CONTACT WITH ANY LEADER, PLEASE TALK ABOUT NEED FOR IMPROVED GOVERNANCE.

Dec. 28, 2008