Pakistan's forex reserves climb to $12.96 bln

KARACHI: Pakistan's total liquid foreign exchange reserves rose to 12.96 billion dollars following the receipt of 1.2 billion dollars from IMF.
Spokesman of the State Bank of Pakistan (SBP), Wasimuddin said this while talking to Geo News on Thursday.
According to break-up, foreign reserves held by SBP were 9.468 billion dollars while net forex reserves held by banks (other than SBP) 3.494 billion

Lockerbie bomber arrives in Libya

A Libyan former agent jailed for the 1988 Pan Am Flight 103 bombing over the Scottish town of Lockerbie has landed in Libya after being freed from prison on the orders of Scotland's justice minister.
Abdel Basset al-Megrahi, 57, who is dying of prostate cancer, flew home on Thursday after Kenny MacAskill said he should be released on compassionate grounds.
"It is my decision that Mr al-Megrahi ... be released on compassionate grounds and be returned to Libya to die," he said.
The announcement has been met with heavy criticism from the United States government and some victims' families, who believe al-Megrahi, held responsible for the 270 deaths in the bombing, should remain behind bars.
Barack Obama, the US president, described the release as a "mistake" and said that al-Megrahi should be placed under house arrest on his return.
Al-Megrahi 'relieved'
Al-Megrahi returned to Libya after boarding a plane at Prestwick airport in Glasgow,
Scotland.
He was earlier released from Greenock prison and escorted by a police convoy to the airport.
In a statement following his release, al-Megrahi said: "I am obviously very relieved to be leaving my prison cell at last and returning to Libya, my homeland.
"The remaining days of my life are being lived under the shadow of the wrongness of my conviction.
"I have been faced with an appalling choice: to risk dying in prison in the hope that my name is cleared posthumously or to return home still carrying the weight of the guilty verdict, which will never now be lifted.
"The choice which I made is a matter of sorrow, disappointment and anger, which I fear I will never overcome."
'Going to die'
Amr El-Kahky, Al Jazeera's correspondent in Tripoli, the Liban capital, said Libyans were "triumphant" at his return.
"Al-Megrahi's mother said she has her home door open, because she won't believe that he is free unless she sees him for herself," he said local press had reported.
MacAskill ruled out allowing al-Megrahi to live in Scotland due to security concerns, deciding instead that he be returned to his homeland.
"Al-Megrahi now faces a sentence imposed by a higher power," MacAskill said.
"It is one that no court in any jurisdiction could revoke or overrule.
"It is terminal, final and irrevocable. He is going to die."
MacAskill said the decision was made because Scottish law required that "justice be served, but mercy be shown".
He also said he was conscious that there "were deeply held feelings and that many may disagree".
The decision has been met with divided opinion from politicians and relatives of the bombing victims.
US anger
The US said it "deeply regrets" the decision made by the Scottish executive, in a statement made by the White House.
"As we have expressed repeatedly to officials of the government of the United Kingdom and to Scottish authorities, we continue to believe that Megrahi should serve out his sentence in Scotland," it said.
Nick Spicer, Al Jazeera's correspondent in Washington DC, said the US government had been writing to British leaders to try to influence the decision.
"But Scottish justice is sovereign, and it is recognised that the US cannot change the outcome of the decision by the Scottish justice minister," he said.
Libyan dilemma
Speaking to Al Jazeera, Omar Turbi, an expert in US-Libyan relations, said: "I think it [the release] really represents a dilemma for the Libyans.
"Will they move forward in their history and time, thinking ok we want the world to think that we took revenge over America's bombing of Tripoli in 1986, or shall we really take this stigma out of the world's view of us and clear it once and for all.
"Libya is going to live with this stigma forever if it does not take a proactive step to clear its name.
"The US and the UK are one and the same, they are in the same camp everywhere in the world.
"In the bigger scheme of foreign policy, world events, this is a very, very, very small event as far as the UK and the US are concerned.
"And I predict that within the next weeks to come this will virtually blow with the wind."
Appeal dropped
The Libyan government had appealed to the court to consider a prisoner transfer or release on compassionate grounds for al-Megrahi.
MacAskill rejected the application for a prisoner transfer, stating the US government believed there was an agreement to keep anyone convicted over the Lockerbie bombing imprisoned in Scotland.
Frank Duggan, president of US Victims of Pan Am 103, told Al Jazeera he was "disappointed" that Britain's government did not make discussions over the terms of al-Megrahi's imprisonment clear.
"Mr MacAskill said the British government said it had no obligation to honour its agreement that the prisoner would serve his term in Scotland. They said they gave no such assurances to the US government and that's just not true," he said.
"It is clear that the agreement was made that he would spend his entire term, the rest of his life, in Scotland."
Al-Megrahi's release comes days after he dropped his second appeal against his conviction, a condition necessary for the applications to be considered.
Libya responsibility
Al-Megrahi, who has repeatedly protested his innocence, lost an appeal in 2002 and last year failed to secure his release on the grounds he was dying.
However, there is a fear that, unless a public inquiry into Lockerbie is held, evidence that would have come to light at al-Megrahi's appeal will never be publicly known.
His lawyers began an appeal in May this year against his conviction at a court in Edinburgh, saying the case against him was flawed.
The attack, which occured on December 21 1988, killed all 259 people on board and 11 on the ground when it crashed into the town of Lockerbie.
Four years after al-Megrahi's conviction in 2001, Libya accepted responsibility for the bombing and agreed to pay about $2.7bn in compensation to the families of those killed.
That move prompted the lifting of international sanctions against Libya and led to a restoration in diplomatic ties between Tripoli and the West.

CBS Ad Puts Video Inside a Magazine

In a marketing stunt to promote its fall TV series, CBS Corp. is inserting thousands of tiny screens in copies of the Time Warner Inc. publication Entertainment Weekly.
The screens measure two and a quarter inches diagonally and play about 40 minutes of clips from new and old CBS shows.
The video begins with a cheeky intro to the "video-in-print" technology, starring characters from the show "The Big Bang Theory."
After that, the reader/viewer can push a spot on the cardboard insert that holds the screen and watch a clip of the sitcom "Two and a Half Men." Push another to see a preview of the new crime-investigation spinoff "NCIS: Los Angeles." Another delivers an ad for PepsiCo Inc., which is helping fund the promotion.
The player, developed and made by Americhip Inc. of Los Angeles, is much like the chips that play music in some greeting cards and magazine ads and is rechargeable.
CBS wouldn't disclose what the inserts or the screens themselves cost. "More than a can of Pepsi," George Schweitzer, CBS's president of marketing, said at a news conference Wednesday.
Apparently, they cost quite a bit more than a soda. According to Paul Caine, president of the Time Inc. magazine group that includes Entertainment Weekly, the ballpark dollar cost for one of these video units is in the "low teens," although he said the cost may come down before the issue comes out.
Time Inc. wouldn't disclose how much it is charging to run the novelty ad, which has to be hand inserted at the printing plant. It is much-needed revenue, though, as Entertainment Weekly ad pages were down 32% in the first half of this year compared to a year ago.
The insert will appear only in copies sent to some subscribers in New York and Los Angeles. A CBS spokesman wouldn't say how many screens would be inserted, saying only that it would be thousands.
It isn't the first time magazines and technology have teamed. Last year, the cover of October's Esquire magazine splashed blazes of electronic ink. Using the same technology as Amazon.com's Kindle, panels on the cover and an ad inside from Ford Motor flashed with messages and an illusion of a car on the road.
CBS has been especially active. In 2007, it placed ads with lickable mojito-flavored strips in Rolling Stone to promote a show about a family with a rum-and-sugar business. In 2005, it embedded People magazine with singing sound chips to promote an Elvis Presley miniseries.

PAF begins drone planes production

KAMRA- Pak Air Force has formally started the production of pilotless drone planes in collaboration with an Italian company, Geo News reported Thursday.

According to details issued by the PAF, the Pakistan Aeronautical Complex Kamra has commenced producing the pilotless planes Falco UAV in collaboration with Selex Galileo of Italy.

Aeronautical Complex chief Air Marshal Farhat Hussain said pilotless Falco UAV highly important for the country’s defence, adding the production of the planes will greatly add to the professional capabilities of PAF.

Farhat said Pakistan is now a member of the club of countries manufacturing drone planes.

The system will be used mainly for aerial reconnaissance and information gathering, although the PAF will later also induct UAVs equipped with weapon systems to carry out offensive operations.