Sunday 18 December 2011

Euro firms in Asia after smooth Spain bond auction

Euro
TOKYO: The euro rose against major currencies in Asian trade Friday, helped by a successful Spanish bond auction, as market players began turning their attention to the forthcoming holidays, dealers said.

The euro stood at $1.3037 and 101.49 yen in Asian trade, up from $1.3017 and 101.41 yen in New York Thursday.

The dollar bought 77.84 yen, easing from 77.89 yen in New York.

"The market will be gradually shifting to holiday season mode, with position squaring likely to dominate activity," Kengo Suzuki, forex strategist at Mizuho Securities, told Dow Jones Newswires.

The lack of bad news over the European debt crisis and solid Spanish bond auction results Thursday have helped ease risk concerns, dealers said.

Spain enjoyed a bumper bond sale on Thursday, raising nearly twice the amount it had hoped for as it snatched the chance to lock in competitive borrowing rates in the swirling eurozone debt crisis.

Spain's treasury raised 6.0 billion euros ($7.8 billion) - far above its 2.5-3.5 billion euro target -- in the closely watched auction, the Bank of Spain said.

Investors made bids for a combined total 11.234 billion euros of the four-, nine-, and 10-year bonds, more than three times the original maximum target.

Strong US data, including new jobless claims that hit a three-year low last week, also helped calm nerves, dealers said.

Elizabeth Taylor pearl sells for $11.84 million

Elizabeth Taylor's Pearl
NEW YORK: A huge pearl once worn by European royalty and last owned by Hollywood siren Elizabeth Taylor sold for a record $11.84 million at a blockbuster auction in New York on Tuesday.

"La Peregrina," depicted in art works over the centuries and coveted by kings and queens, was bought for Taylor by her actor husband Richard Burton in 1969.

Suspended from a Cartier necklace, the pearl had been estimated to sell by Christie's for $2-3 million but the figure shot up in fierce bidding, reaching the highest price for any pearl jewelry at auction.

The pear-shaped white pearl was a highlight of Christie's sale of the legendary jewelry and fashion collections amassed by Taylor, the so-called "Crown Jewels of Hollywood."

The actress, who died in March at the age of 79, had seven husbands during her glamorous life, countless admirers and a passion for jewelry.

An emerald and diamond necklace by Bulgari went for $6.1 million, catapulting over the pre-sale estimate of $1-1.5 million. Perfectly matching the stunning piece were a Bulgari brooch at $6.6 million and a set of ear pendants at $3.2 million, estimated before the auction at a maximum of $700,000 and $200,000 respectively.

Another big seller was a Van Cleef & Arpels diamond ring at $2.3 million, while Bulgari pearl and diamond ear pendants fetched $2 million.

The sale of Taylor's belongings follows a public viewing that attracted thousands to the New York auction rooms.

"It is by far the greatest jewelry collection to be offered in a century," said Marc Porter, chairman of Christie's Americas.

Live sales were to be held through Friday. Running concurrently was an Internet-only sale of nearly 1,000 items such as jewelry and accessories like designer handbags.

Hundreds of haute couture dresses from Chanel, Christian Dior, Givenchy, Valentino, Versace or Yves Saint Laurent, jackets, caftans, handbags and other accessories were on sale and they tell both the story of the star and also the changes in fashion during her eventful career.

The dress Taylor wore to her first marriage was predicted to go for between $40,000 and $60,000.

It would be hard, however, to match the beauty and history of "La Peregrina." Apart from its remarkable size -- 203 grains, the equivalent to 50 carats -- and association with the Taylor and her equally glamorous husband,
the pearl comes with a story matched by few necklaces.

Discovered in the 16th century in the Gulf of Panama, one of the first recorded owners was King Philip II of Spain. It passed on to the Spanish queens Margaret and Elisabeth, who proudly wore the pearl in 17th century portraits painted by Velazquez.

The treasure went into French hands in the 19th century when Napoleon's brother, Joseph Bonaparte, briefly ruled Spain. Richard Burton paid $37,000 at auction, outbidding a member of the Spanish royal family.

Boat sinks off Indonesia, hundreds missing

Boat sinks off Indonesia, hundreds missing
JAKARTA: A boat carrying 380 migrants, most of them from the Middle East, sank off the coast of east Java in Indonesia Saturday and hundreds of the passengers were missing, a senior emergency official said.

Only 76 people had been rescued, said Sahrul Arifin, the head of emergency and logistics at the East Java Disaster Mitigation Center.

He said strong waves wrecked the wooden boat about 90 km (56 miles) out to sea. "Our search and rescue team have begun sweeping the water around where the accident took place but we are now sending body bags to that area," Arifin said.

He said the passengers were believed to be illegal migrants. Many boat people from the Middle East and Asia use Indonesia as a transit point en route to Australia.

The next crop of politicians: sons and daughters

Next Politicians
ISLAMABAD: The talented sons and daughters of political heavyweights are bracing up to find their niche in Pakistan's political landscape with some currently playing a supporting role, often forced to defend the deeds or misdeeds of their illustrious fathers in the murky political arena.

Their growing political ascendance is basically because of their hereditary politics in South Asia. They are relishing the official patronage that their elders have at their disposal to offer; are ensconced in the commanding power corridors like the presidency, the prime minister's house or chief minister house; and are enjoying the protocol and protection at the official expense.

A veteran observer of the political scene, Rawalpindi leader Sheikh Rashid Ahmad has said it publicly repeatedly that the next generation of the existing leaders is more corrupt than their peers. This is, however, yet to be established about most of the sons and daughters joining politics.

Mariam Nawaz, Bilawal Bhutto Zardari, Fizza Batool Gilani, Syed Ali Musa Gilani and Salman Shahbaz are the rising stars, who were waiting in the wings for quite some time, now shining in the political sky. Gifted sons like Hamza Shahbaz, Abdul Qadir Gilani and Chaudhry Moonis Elahi, born with golden spoons, already occupy the parliamentary space.

"Since Begum Saheba" (Begum Kalsoom Nawaz) "is no more active to extend a helping hand to Nawaz Sharif in the political field due to her post-op back problem, Mariam has been launched to do her bidding," a senior Pakistan Muslim League-Nawaz (PML-N) leader told The News. "This is Mariam's soft induction in politics."

He said that she would be representing the party at several functions that the PML-N chief could not preside due to his hectic engagements. For the moment, he did not believe that the young lady whose husband, Capt (Retd) Safdar, is member of the National Assembly, would contest elections. "Since there is no other female member of the Sharif family, who is active in politics, Mariam has been formally introduced."

The PML-N leader said Begum Kalsoom though always a housewife had made a mark in politics during his 15-month stint from October 1999 to December 2000 when Nawaz Sharif and several other members of the clan were jailed. Although it was a totally new field for her, she had conducted herself gracefully and never faltered, causing any embarrassment to herself or the party, he recollected. "She turned out to be a powerful campaigner."

However, other PML-N leaders believed that Mariam would be PML-N candidate from a Lahore constituency in the next parliamentary polls. They said the basic idea behind heractivation was to attract young voters that Pakistan Tehrik-e-Insaaf (PTI) was charming.

They pointed to somewhat taking the limelight from Hamza Shahbaz after the famous Lahore rally that was no match to Imran Khan's show at the Minto Park a few days later.

Mariam has started with a clean slate, another PML-N leader said and added that her occasional political comments that she made when Nawaz Sharif and others were incarcerated were highly incisive against the Musharraf regime. She was politically silent for the past one decade. Nawaz Sharif's two sons, Hussain and Hassan, are apolitical young men and are more focused on their businesses while his other daughter, Asma, who is daughter-in-law of Ishaq Dar, is disinterested in politics.

While Hamza is relatively quiet now, his younger brother Salman made an appearance in a recent Geo talk show a couple of weeks back in which he defended his family's expanding business empire. The young man was impressive for the mere fact that like a true politician he did not list the family factories or any business but just provided its details (right during the live programme through email or fax) to the anchor to recite if she willed. That was Salman's debut in defending his family businesses. He, however, did not unfold his political plan.

Facing young Sharifs in the political field is Bilawal, who has been deputed by his ailing father, President Asif Ali Zardari, to mind things in the PPP and learn the tricky art of statecraft while working closely with Yusuf Raza Gilani in the vaulted environs of the Prime Minister House, in his absence from Pakistan. His name and remarks now often find space in the official statements issued by Gilani's office.

Unlike Mariam, the 23-year old Bilawal is under age and thus ineligible to contest a national or provincial seat. He has still two years to go to qualify for an electoral fight. Although he has lived abroad most of his life and is not much acquainted with local traditions and customs, he is trying to give looks of a Pakistani politician and a local touch at least from his attire as he is, at times, shown, in officially released photographs, wearing shawl and Sindhi cap.

A few months back, Prime Minister Gilani activated his only daughter, Fizza Batool, in politics, and she was quickly made Goodwill Ambassador for the Empowerment of Women. Insiders say she was launched well before the forthcoming election to half of the Senate in February next with a view to induct her in the Upper House. Her statements are also issued by Gilani's office. President Zardari has not deemed it proper to seek the presence of his daughters, Bakhtawar and Asifa, who are studying abroad, in Pakistan to take care of the party affairs in his absence. It is not yet known whether or not he would want them in politics.

Gilani's son, Ali Musa, is all set to contest the by-election to NA-148 Multan that was vacated by former Foreign Minister Shah Mehmood Qureshi. Another son Abdul Qadir is already member of the Punjab Assembly.

While Mariam, Ali Musa and Fizza Batool start their political stints without a blemish on them, others have skeletons in their cupboards, which will continue to haunt them in future. Salman, who is yet to take political start, also has no taint to suffer.

Abdul Qadir was accused of taking a bulletproof jeep as a gift in the notorious Haj scam, which was still before the Supreme Court.

Bilawal jointly owns the Park Lane Estate with his father in whose name 24,00 kanals (300 acres) of land near Sangjani, Islamabad, which is subject of a corruption reference, still pending with the National Accountability Bureau (NAB), was quietly transferred after the present government came in place in 2008. The land frozen due to the reference was unfrozen on the force of the National Reconciliation Ordinance (NRO), and then transferred in the name of the Park Lane Estate. However, after the quashment of NRO by the Supreme Court it was again frozen by the Islamabad administration on the NAB direction, which is its present status.

Moonis Elahi was recently acquitted from the scandal of opening of fake bank accounts in which a portion of the defrauded National Insurance Company Limited (NICL) money was deposited. The case is still before the Supreme Court. Hamza was massively embarrassed, humiliated and maligned by the outbursts of Aisha Ahad Malik, who claimed to be his (third) wife.

Geo News unearths Veena in Mumbai

Veena Malik

MUMBAI: Pakistani actress Veena Malik, who was missing for the last few days days was finally found Sunday resting in a hotel, Geo News reported.

Veena is in the heat of a scandal, after her controversial photo shoot for an Indian Fashion magazine.

Veena on being unearthed by Geo News said she was tired from working 18 hours a day and needed rest.

The actress says she did not want to be disturbed by anyone and therefore she had put her mobile phone off and neither passed on any information to her relatives or friends in Mumbai about her whereabouts.

Earlier Veena had mysteriously gone missing from her Mumbai residence.

Veena’s business manager Prateik Mehta and filmmaker Hemant Madhukar had revealed that Veena was untraceable since the morning of December 16.

Veena was shooting for a horror flick ‘Mumbai 125 kilometres’ in Goregoan (West) before disappearing.

Hemant and Veena’s manager had approached the local Bandra Police to help them find Veena Malik.

Later, Indian media this morning had reported that Veena Malik had secretly arrived in Pakistan through Wagah border on Friday, ostensibly for renewal of her visa.

Geo News taking a cue from the Indian media reports started investigating and ultimately came out successfull solving this mystery by tracing Veena Malik in a Mumbai hotel.

President Zardari return likely tonight

Asif Ali Zardari
KARACHI: We have learnt through reliable sources that President Asif Ali Zardari may return to Pakistan from Dubai any time tonight, Geo News reported on Sunday.

The medical team of President Zardari has declared him completely fit, allowing him to resume his official activities.

The sources further said that the President's plane, having 10-12 seats, stood standby at Dubai airport. It is expected to leave Dubai airport at 9:00 PM (Dubai time) tonight.

Security from Karachi Airport to Bilawal House has already been beefed in the anticipation of President's arrival.

Hugh Hefner On Spicing Up Lindsay Lohan’s Playboy Reshoot: ‘She Hadn’t Bared It All In The First One’

Lindsay Lohan, Shaun Robinson, Hugh Hefner, Marilyn Monroe,
Lindsay Lohan’s Playboy issue hit newsstands today and Access Hollywood’s Shaun Robinson caught up with Hugh Hefner to get the details on the actress’ Marilyn Monroe-inspired shoot. Hef says the tribute was a last-minute choice after he was disappointed with what the photographer first shot with Lindsay.
“I saw the results of the first day of shooting and it was not what I was looking for,” Hef told Shaun in an interview at the Playboy Mansion on Thursday. “[Lindsay] hadn’t bared it all in the first one and she looked like she had just come out of rehab… She looked like she just got up in the morning.
“I wanted her to do something that would be truly unforgettable,” he added.
Inside the pages of Playboy, Lilo’s poses are nearly identical to those of Marilyn’s iconic 1953 spread in the men’s mag. While Lindsay was on board for the reshoot, her handlers — at first — were not, because this time she would be fully nude.
“They wanted a little more clothing and I said, ‘You know, this is going to be what it’s going to be, because we’re doing a tribute here to the original nudes,’” Hef explained.
“Marilyn Monroe’s comment after the original shoot was, when they asked what she was wearing, [she] said, ‘All I had on was the radio.’ All Lindsay Lohan had on during this was the radio!”
When asked if the actress arrived to the photo shoot on time, the Playboy magnate wasn’t able to provide an answer, but said if she was truly channeling Marilyn, punctuality would not be one of her strongest points.
“I don’t know the answer to that, [but] if she’s doing a tribute to Marilyn Monroe, I assume that means she probably didn’t show up on time because Marilyn didn’t show up on time,” he told Shaun.
“Marilyn was late also?” Shaun asked.
“Oh yes, with regularity,” Hef answered.
Despite the unauthorized, premature release of Lindsay’s pictorial, Hef still has high hopes for the issue.
“I think you can count on it,” he told Shaun, when asked if he believes Lindsay’s issue will be a bestseller. “The publicity surrounding it and the anticipation is remarkable.”