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ЛОНДОН: Private equity firm CVC Capital Partners confirmed on Tuesday that investors Waddell & Reed , Norges Bank and BlackRock had paid $1.6 billion in cash for a 21 percent stake in the Formula One motor racing business. “We look forward to working with our new partners over the coming years,” said Donald Mackenzie, a managing partner at CVC, calling the investment great news for Formula 1. CVC, which had owned 63.4 percent of the business, said it would continue to be Formula 1′s largest and controlling shareholder.
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CHICAGO: NATO set an “irreversible” course out of Afghanistan on Monday but President Barack Obama admitted the Western alliance’s plan to end the deeply unpopular war in 2014 was fraught with peril. A landmark NATO summit in Chicago endorsed an exit strategy that calls for handing control of Afghanistan to its own security forces by the middle of next year but left questions unanswered about how to prevent a slide into chaos and a Taliban resurgence after allied troops are gone. The two-day meeting of the 28-nation military bloc marked a major milestone in a war sparked by the September 11 attacks that has spanned three U.S.
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Staff Report GUJRANWALA: Police allegedly tortured two brothers brutally on behest of their rivals in Gujranwala today, SAMAA reported on Tuesday. The police stamped burn signs on the bodies of both brothers with hot iron rods during alleged torture
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Staff Report KARACHI: MQM leader Raza Haroon Tuesday condoled with the families of those killed in firing on a political rally in Karachi. Twelve people were killed and many more were wounded when unknown gunmen opened firing on an Awami Tehrik’s rally in the city
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JERUSALEM: Israel expressed deep suspicion on Tuesday about an expected deal between the U.N.
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Мумбай: The rupee hit a record low to the dollar for the fifth straight session on Tuesday, weighed down by large dollar demand from oil firms and weak global risk sentiment, especially after Fitch downgraded Japan’s ratings. The falls came even after the Reserve Bank of India (RBI) announced on Monday measures to target arbitrage and speculation in futures and options markets, with traders saying this market segment was too small to have a big impact. The RBI has announced a string of measures to curb the rupee’s falls, none of which has so far succeeded.
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Staff Report LAHORE: The Government of Punjab announced Tuesday it would regulate the private education institutions operating in the province. It said the private schools would not be allowed to impose discretionary fees.
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GENEVA: Myanmar opposition leader Aung San Suu Kyi will address an International Labour Organization conference in Geneva next month during her first trip outside Myanmar in 24 years, the ILO said on Tuesday. Suu Kyi will give a speech on the final day of the ILO conference on June 14. “Aung San Suu Kyi will be addressing the conference,” said ILO director general Juan Somavia, adding that it will be the first time Suu Kyi “will speak internationally” since she was released from house arrest in 2010
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Staff Report ISLAMABAD: PTI Chairman Imran Khan said Tuesday that the government had ridiculed the verdicts of the Supreme Court. Addressing a news conference here, Khan said that anyone could ridicule the courts if a government would do it. He said that anybody who was against the free judiciary was against the democracy
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Staff Report KARACHI: Sindh Information Minister Shazia Marri has condemned the firing incident on journalists during Awami Tehreek’s rally here on Tuesday. Marri ordered for a thorough investigation into the incident
